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One of Goldman Sachs's senior advisers in London has said that British taxpayers should "tolerate the inequality" stemming from the investment bank's plans to dole out a record $22bn (£13.4bn) in pay and bonuses this year for the sake of the "common good".
Employers yesterday called upon the Government to get to grips with its ballooning debts as a new study put the true size of the public sector's net liabilities at £2,200 billion, almost three times official figures.
A lot of us have been feeling the pinch living here in the UK, and this study does not go anywhere to help us believe that "things are going to get better" anytime soon.  Share with us your experiences - are they different to what the league table reports?  ps - the Top 3 countries are France, Spain and Denmark
The Federal Reserve should be forced to identify companies that received loans from the central bank because it can't demonstrate that borrowers would be harmed by the disclosure, according to lawyers who won a Freedom of Information Act lawsuit.
This article from the SMH illustrates the current rise of the bull market in dissent. Now we just need to keep harnessing the people power... 

Hell hath no fury like a mummy blogger scorned - a lesson quickly learnt by Nestle this week after its attempt to buy bloggers' affections backfired spectacularly.
"climate change and poverty are inextricably linked" - wise words from Hugh Jackman.  Copenhagen cannot work without an understanding of the inter-relationship with the economy and some debate if the western model is actually the best for developing countries. Perhaps there is a better solution?  Read the full article below.
How quickly a year flys.  What has happened to the memory of Governments, regulators after the destruction inflicted last year in the banking sector.  Apparently now we are meant to see them as economic saviors....  An interesting article from The Times.
Nobel Prize-winning economist Joseph Stiglitz says the US has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers.

"In the US and many other countries, the too-big-to-fail banks have become even bigger," Stiglitz said in an interview overnight in Paris. "The problems are worse than they were in 2007 before the crisis."
In an extraordinary ruling, U.S. District Court Judge Loretta Preska ordered the Federal Reserve to turn over records of the details concerning the lending of taxpayers' money to financial institutions and banks.
An article from the Sydney Morning Herald showing us how ''economic modelling'' can be perverted by vested interests to suit their own purposes.
Dirk J Bezemer from Groningen University has presented a paper on Understanding Financial Crisis Through Accounting Models.

This paper presents evidence that accounting (or flow-of-fund) macroeconomic models helped anticipate the credit crisis and economic recession. Equilibrium models ubiquitous in mainstream policy and research did not.
The mood among UK business leaders has hit its highest level for a year, with a small majority believing that the bottom of the business cycle has been ...
Foxtons, the now cash-strapped estate agency that came to epitomise the London housing boom, is in talks with banks about a debt-for-equity swap that would see lenders agree to write off between £60m and £90m in return for taking a large stake in the company.

http://www.guardian.co.uk/business/2009/apr/12/foxtons-debt-write-off-business 


Federal Reserve chief Ben Bernanke said on Tuesday that there were initial signs that the prolonged US recession may be easing sighting that "tentative signs that the sharp decline in economic activity may be slowing," from data on home sales, home-building and consumer spending, including sales of new motor vehicles.

http://news.smh.com.au/breaking-news-world/tentative-signs-us-recession-easing-fed-chief-20090414-a6d5.html


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