There has certainly been a lot going on in recent months with regard to the U.S. financial system and the global implications of recent bank failures, and we cover several recent developments in this week's Cabinet News and Views.

So in both the U.S. and the UK, it will be nice to enjoy a long weekend, with Memorial Day and late May bank holiday, respectively. 

It is tempting in the U.S. to view the holiday as the unofficial start of the summer season, with a long weekend of outdoor activities, picnics and barbecues, and shopping. But let's step back for a moment and remember that Memorial Day reminds us of the heroic men and women of the U.S. Armed Forces who sacrificed their lives for our freedom. Earlier today, soldiers of the 3rd U.S. Infantry Regiment – the oldest active-duty infantry unit in the Army, dating back to 1784 – began to carry out a decades-old tradition, placing American flags at each of the 400,000 gravesites at Arlington National Cemetery in Virginia. And on Monday, at 3 p.m. local time, musicians all across the country will participate in "Taps Across America" – playing the traditional 24-note melody for fallen heroes on bugles and other musical instruments. 

As we honor the true meaning of Memorial Day in the U.S., let's remember these words: “Our flag does not fly because the wind moves it. It flies with the last breath of each soldier who died protecting it.”

Daniel Meade 
Partner and Editor, Cabinet News and Views