Taxpayers face huge bailout to absorb toxic bank debts....

TAXPAYERS of the US and Europe will have to bail out their nations' tottering banks after a weekend meeting of G20 finance ministers agreed that governments must absorb toxic debts to kick-start the stuttering global economy.

But banks rescued from collapse under the plan will have to agree to strict conditions, including limits on dividends to shareholders and caps on salaries of their executives....

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Source: www.theaustralian.news.com.au

The Economy: Even 'Dr. Doom' Is Scared

A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months.

He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth...

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Source: yahoo! finance