On the day that Rajan Tata gave details of the world’s cheapest car - the 100,000 Rupee Nano – I went to the US unveiling of what promises to be one of the most expensive: the new Rolls-Royce 200EX. Read more
I am a bit more hopeful about the Tim Geithner’s latest plan to take troubled assets off the balance sheets of US banks than the sceptical economists led by Paul Krugman.
Mr Krugman does not like the plan – at all – because he regards it as a mere reshuffling of the original Tarp plan suggested by Hank Paulson last autumn, which seems like ages ago. He points out, rightly, that it involves a government subsidy to private investors in the form of guaranteed debt. Read more