News Of The World

From the BBC:

BBC Business Editor Robert Peston says global taxpayers have now spent £5 trillion to shore up the world's banks...

The Bank of England's new estimate on global losses is double the estimate that it published in May...

Last week Bank governor Mervyn King said the British banking system had been closer to collapse earlier this month than at any time since the start of World War I.

He also said that a "little more boredom" would be no bad thing for the industry.

In other news, with admirable British understatement:

The trouble with cultivating the idea that you are good in adversity is that it only works if you have a convincing plan for extracting yourself from it.

It is starting to look as though presidential hopeful John McCain simply does not.

Hold on, it gets even better:

A historian reminded me last week of the extent to which Harry Truman had been written off in 1948 before he overhauled Thomas Dewey in the closing days of campaigning.

But if John McCain wins it from here it seems to me that he should be compared to Lazarus not just Thomas Dewey.

And of course:

One key to all this is the use of the internet.