Rice at seven - in her first appearance on the list. "She debuts in second place," says Forbes, "as she tries to stave off financial panic amid a worldwide credit crisis."

It should be noted that the list came out two days before Republican presidential candidate John McCain named Sarah Palin as his 'Veep', a

wild card who might end up as easily the world's most powerful woman if McCain does win in November.

Bair, in the meantime, is perfectly, if ironically, qualified to play scold to the spoiled sons and daughters of the world's affluent consumer societies who are now trembling before the prospect of global economic meltdown. This is because her only public appearance before the Forbes accolade has been as the author of an illustrated children's book dedicated