Protests Get Heated Outside G-20 Summit

The Obamas welcomed G-20 leaders to Pittsburgh, a group that today will claim the role of Board of Directors of the world economy.

Included are economic heavyweights China, India and Brazil.

Treasury Secretary Tim Geithner said a shift in their say makes sense.

“Given the change of balance of activity in the world and have that shift occur to those countries who have been for a substantial period of time among the most rapidly growing countries in the world,“ said Geithner.

The news puts pressure on host President Obama to produce results.

There are calls for G-20 nations to phase out subsidies for fossil fuels, a move aimed at climate change.

Also a to limit bonuses paid to bankers, in order to curb huge risk-taking.

The U.S. is on board with new rules.

“We want them to take effect now so they affect compensation practice today, not tomorrow, and that they bring about reforms in compensation by the end of this calendar year,“ said Geithner.

Not far from the G-20 talks protests overnight heated up.

Police used pepper spray and smoke to disperse the crowd.

Some demonstrators marched against capitalism and caused damage at nearby banks.

Some downtown businesses were ready for it and earlier boarded up.

“Usually there’s people walking around, vendors, no one come down, it’s like a ghost town down here today,“ said cafe owner David Colbert.

By this morning, protests had led to some arrests.