Does anybody in the federal government know or could know “who, what, where and when” of the massive, complex, vertical, horizontal, global collapse of Wall Street and its planetary tentacles in over 100 countries abroad? Step forward if you exist! Uncle Sam needs you!

Is the multi-million dollar bailout of this financial mess and house of cards, this phantom wealth mummy hitting air beyond the federal governments’ salvage capability?

For Clarissa Young, a highly qualified, articulate 36-year-old from Ascot in Berkshire, waking up each morning in a bunk bed in her parents’ spare room is not where she envisaged being at this stage in life, when most of her friends are married with their own children in bunk beds.
“To make matters more laughable, when my 32-year-old brother Jared came home over Christmas, he had to sleep in the top bunk, so there we both were, feeling we’d regressed back to childhood,” says Clarissa, who finds herself one of the “boomerang generation”: people in their 20s or even 30s who, usually thwarted by lack of mortgages, precarious careers or the rising cost of living, move back home with their parents.

The research claimed the number of rental properties advertised on their portal has almost doubled, rising 8pc in the last month alone.
But even with the increase in enquiries, with visitors to the site’s rental list rising by 22pc, supply still outstrips demand.

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 0.5%, and to undertake a programme of asset purchases of £75 billion financed by the issuance of central bank reserves.
World activity continued to weaken, reflecting both depressed confidence and the persistent problems in international credit markets. In the United Kingdom, output dropped sharply in the fourth quarter of 2008. That reflected lower consumer spending, a further fall in business investment and a rapid run-down in stocks, in part offset by stronger net exports as the past depreciation of sterling began to take effect. Business surveys continue to point to a similar rate of contraction in the early part of this year. Unemployment has risen markedly. Credit conditions faced by companies and households remain tight.

Taxpayers are to be forced to bail out a £21.5 billion programme for new hospitals, schools and roads as private funding collapses in the recession.
Chancellor Alistair Darling is tomorrow expected to set up a fund – essentially a mini-bank – to inject extra state funding into controversial private finance initiative projects.

Let’s not get too worked up about the £40 billion loss by RBS – those foolish bankers that went into a bidding war to buy ABN Amro at peak.
If the Nationwide figures are any reflection of the true value of houses in the UK then we have just witness about £1 trillion wiped off the value of the nation’s housing stock in the same time it has taken for the full lunacy of the ABN Amro deal to be realised.

Economic growth is plummeting around the world. The United States has just produced its worst figures for 26 years. The UN’s development arm, Unctad, says this could be the first year in a generation that the entire world economy shrinks. And the democracies of Eastern Europe, which emerged blinking and hopeful into the capitalist sunshine not yet 20 years ago, today look ready to fall over like dominoes.
These are undoubtedly the most difficult and dangerous economic times anyone alive has lived through. So how does Britain react? By getting into a lather about Sir Fred Goodwin’s pension. Yesterday Harriet Harman was just the latest minister to fulminate against the former RBS chief, warning that he should not “count on” keeping his money. But while she and others are responding in part to public anger, this row is rather too convenient for ministers.

British Prime Minister Gordon Brown will press President Barack Obama for details on his plans to fix the ailing U.S. financial sector in talks Tuesday that will focus on the global economic crisis.
The two leaders will also discuss ways to tighten lax financial regulations, a major topic for the summit of the Group of 20 developed and emerging economies that Brown will host in London on April 2.

TOP secret contingency plans have been drawn up to counter the threat posed by a “summer of discontent” in Britain.
The “double-whammy” of the worst economic crisis in living memory and a motley crew of political extremists determined to stir up civil disorder has led to the extraordinary step of the Army being put on standby.

The Bank of England is set this week to begin “printing money” in a ground-breaking move that will mark its most forceful action yet to curb the slump in the economy.
The Bank’s Monetary Policy Committee is expected to act on Thursday, as soon as it is given a final green light from Alistair Darling to begin the so-called quantitative easing.