1.Banks are indispensable for a working economy; badly-run banks ignoring sound banking principles are not. What is needed in a depression is not more central bank money for distressed banks but government deficit money to sustain full employment with living wages. – Henry C K Liu The burden of elitism

2.HONG KONG – Although Mao Zedong died 33 years ago, the founding father of communist China seems to still be alive in the hearts of many Chinese.Tough times breed nostalgia for Mao

3.THE federal Budget will be in deficit for up to six years, according to reports. Budget in the red ‘for six years’

4. Over the past month, I have heard quite a few people declare this to be the start of a new bull market. The kindest thing I can say in response to that is the jury is still out, but the weight of the evidence is inconclusive. Market Rally: 1974 or 1982?

5.South Korea has enjoyed miraculous economic growth for the past four decades, setting it apart from many of its Asian peers. But as an engine of export and an overleveraged economy, it is now highly exposed to the global financial crisis. Eastern exposure

6. Bob Barbera, protege of Minsky and an intellectual heir to Schumpeter, forecasts stability but not growth There’s creative destruction, and then there’s this

7.Yes, this time the banks are the gangsters. They’re robbing Main Street’s treasury.Cheering  the crisis antihero

8.Report says profits up 88% to $3.2 billion, mostly driven by high-priced coal.B.C. mining industry posts record results in 2008

9. In an investing environment where a huge paradigm shift has occurred, investors run the risk of losing even more from their investments if they fail to assess the new risks that have emerged. In that environment, doing nothing means one is actually already doing something. Fixing a broken portfolio

10.France pressed its European Union partners on Tuesday to impose strict rules on hedge funds, in spite of Swedish warnings that even the tightest regulation would be no guarantee against a repeat of the current financial turmoil.France pushes for stricter hedge fund rules