creditcrunch

We might be in the midst of a global recession but that’s not going to stop punters from having a flutter on the Grand National, says a leading bookmaker.

Coral’s David Stevens predicts that over £350 million will be bet over the three day event, following a very good turnout for Cheltenham Festival at the beginning of March.

"Betting turnover at Cheltenham held up really well in the current climate, matching last year's record levels, and we're hopeful that interest in the Grand National meeting will prove to be just as resilient.

This is Matt Frei's prose poem on the financial cataclysm. I think this is wonderful writing to pictures, and both words and pictures have great rhythym: "the SUV, the large TV". Also, Frei is good with pauses: he lets the pictures breathe. Wonderful.
Scroll down on this page to "Rotten Roots of the Crunch" to locate this clip

This historian's perspective on the future of capitalism offers a tremendous insight into the value of our old friends context and perspective. You don't need to agree with David Marquand to appreciate the weight of his argument.  

The lead package on Channel 4 News tonight was exquisite. It started with a coruscating tease (the hospice for sick children that has lost a fortune in an Icelandic bank) and moved on through sharp writing, succulent graphics and lancing interviews.

Amid collapsing banks, yo-yoing share prices and widespread insecurity it is natural to look for a culprit. The difficult bit is choosing the villain. Did the banks - particularly the de-mutualised building societies - completely lose touch with reality in their hunger to expand market share? Should their senior executives shoulder all the blame, or is there such a thing as political responsibility?

We briefly discussed the ideas of Nassim Nicholas Taleb today in conference, and I started to wonder: who among the world leaders, both present and future, is in the best position to navigate these murky economic seas and get us all out in one piece?