Every country has detailed procedures to govern private sector bankruptcy. These allow the residual assets of the insolvent company to be divided equitably between creditors. The insolvent party can begin again, reputation damaged but at least able to move forward with the slate wiped clean.
One of the oddest parties I have ever attended was held at 'Ground Zero', the courtyard in the heart of the Pentagon so named because it was a key target for the Soviet nuclear arsenal in the event that the Cold War suddenly turned hot.
The concerted global fiscal stimulus of 2009 is an example of excellent policy-making, the more outstanding because subsequent policies have been ineffectual in addressing the weak recovery in advanced economies. Why did success morph so quickly into the fiscal policy
The Conclave in the Vatican surprised with its election as Pontiff Jorge Mario Bergoglio, Archbishop of Buenos Aires. Pope Francis represents a number of firsts for the Roman Catholic Church. He is the first Pope from South America, the first non-European in 1200 years, the first Jesuit, and the