Call it the cold shoulder. Or frosty reception. In any case, seven English Councils are now being accused of “negligence” due to their previous acts involving depositing money into banks that went bust soon after. While the overall amount is a measly 3% of the total cash reserves of the council, at this stage of the economy, there is no such thing as small money. Besides, the amount is about 33 Million pounds and it is surely nothing to scoff at. The amount ... Read More

British Prime Minister Gordon Brown is going on a stimulus tour. In an effort to get a global consensus or a multi-national fronted thrust for greater fiscal stimulus and better financial regulation, the Prime Minister is calling on heads of states to follow his and US President Barrack Obama’s example. Just like President Obama, Brown believes that more spending and perhaps a sustained fiscal stimulus will help solve the economic crisis or at least minimize the effects of it on the people. ... Read More