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...liabilities at about 50 banks and other financial institutions - Germany could raise as much as $12 billion a year. Would that be enough to protect banks in the case of another meltdown? Of course, proper government and regulatory scrutiny can guard against a repeat of the recent crisis. But in the event of a disaster on a similar scale, "you're never going to get a fund big enough to cover all that," says Simon Maughan, a banking analyst at MF Global in London. "The taxpayer is always going to be the backstop. So why not improve the situation today...
...might take even longer for true strength to be evident in the housing market. "Recent estimates suggest that it would take about 33 months to clear all troubled mortgages at the current pace of liquidations," wrote Merrill Lynch analyst Michael Hanson in a recent note. Alex Barron, founder and senior research analyst at Housing Research Center LLC, has similar worries: "We need to be concerned about the homes that are significantly underwater but haven't yet defaulted," he says. "It may take another two, three or four years before we're well on our way towards a real recovery...
...relentless assault of fish 'n' chips and other greasy Scottish clubhouse fare. This 300-year-old former coaching inn, which sits on the edge of a desolately beautiful field, is run by husband-and-wife duo Geoffrey and Katherine Smeddle and has just been awarded a Michelin star. A recent meal had the rewarding combination of surprise (cannelloni of hare) and comfort (roast rib eye of beef in red-wine sauce). But the all-round experience is the real joy. (See 10 things to do in London...
...unlike previous Facebook mishaps, such as the recent spamming of private messages to users in America, these profile updates were no mistake. Tens of thousands of Facebook users in the South American nation took down their pictures to commemorate the estimated 30,000 people who were disappeared during the country's Dirty War. (Watch a video about celebrity doppelganger week on Facebook...
...balked at White House demands earlier this month that Israel refrain from further construction in East Jerusalem. Indeed, he used his time in Washington to repeatedly restate his government's policy on Israeli settlement in East Jerusalem that had triggered a crisis during U.S. Vice President Joe Biden's recent visit to Israel. And the White House made no effort to conceal the discord, condemning new Israeli construction plans revealed during Netanyahu's visit and dispensing with the traditional photo opportunity and joint statement during Netanyahu's White House visit Tuesday evening. While U.S. officials sought to press Netanyahu...