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Bail-out won’t fix the fiasco
The injection of £37-billion of taxpayer money into the capital base of three UK banks is the gravest event in the modern financial history of the UK.
Will Hutton
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American follies
Few people outside the United States understand the revolutionary nature of American conservatism and the profundity of its ambitions. Nobel Prize-winner Joseph Stiglitz’s careful dissection of the follies of the "roaring Nineties" and the conservative thinking that produced them — penetrating the Clinton administration — is as good as it gets, writes Will Hutton.