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OECD calls on Congress to “stop the rot”

Angel Gurria, secretary general of the Organization for Economic Co-operation and Development, says Congress must “stop the rot” being spread by toxic mortgage assets.

He says that now is not the time to focus on punishing executives but that there must be a plan agreed upon in order to stop the further contamination of Europe’s economy by economic hardship from the US.

He says: “We must take away bad assets. Last week the OECD released a statement saying that we support the logic of the plan. It will allow banks to recapitalise and stop the paralysis of the market.”


US bailout rejected

The US House of Representatives voted against the $700bn rescue plan that was set to save the US from recession.

Enterprise launches Platform exclusives

Enterprise Group has launched an exclusive range of fixed rate products from Platform which have gone live today on Enterprise’s Edge system.

Keep it simple, stupid

This month’s dispatch comes from the Labour Party conference in Manchester. One of the unalloyed joys of party conferences is the fringe – meetings that go on around the main conference on this or that issue in overheated and undersized hotel function rooms.


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