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Watch Margaret Thatcher Slap Down A Socialist Politician For Wanting To Make The Poor Even Poorer

Watch Margaret Thatcher Slap Down A Socialist Politician For Wanting To Make The Poor Even Poorer

Joe Weisenthal | Apr. 8, 2013, 8:18 AM | 2,849 | 12

The sad news today is that former UK PM Margaret Thatcher has died.

She was incredibly influential among conservatives, and she was beloved for stuff like this.

Watch as she slams an opposition labor politician, for, in her words, advocating policies that would prefer to make the poor poorer so long as it resulted in more equality.

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10 Memorable Quotes From Margaret Thatcher ; “Economics are the method; the object is to change the heart and soul.”

10 Memorable Quotes From Margaret Thatcher — One Of The Most Quoteworthy Politicians In History

Rob Wile | Apr. 8, 2013, 8:49 AM | 10,357 | 17

Former British PM Margaret Thatcher has died.

Thatcher was one of the more quotable politicians in recent memory.

Her wit and sharp lines about socialism have helped cement her reputation as “The Iron Lady.”

Via Wikiquote, here are some great ones.

“I don’t think there will be a woman Prime Minister in my lifetime.” — BBC, March 5, 1975

“If a Tory does not believe that private property is one of the main bulwarks of individual freedom, then he had better become a socialist and have done with it.” — Daily Telegraph, Jan. 30, 1975.

“The Russians are bent on world dominance, and they are rapidly acquiring the means to become the most powerful imperial nation the world has seen. The men in the Soviet politburo don’t have to worry about the ebb and flow of public opinion. They put guns before butter, while we put just about everything before guns. They know that they are a super power in only one sense—the military sense. They are a failure in human and economic terms.” Speech, Jan. 19, 1976 (The Russians would respond by calling her the “Iron Lady.”) —

“Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them.” Speech, Feb. 5, 1976

“Pennies don’t fall from heaven, they have to be earned here on earth.” Speech, Nov. 12, 1979

“No one would remember the Good Samaritan if he’d only had good intentions; he had money as well.” Weekend World, Jan. 6, 1980

“Economics are the method; the object is to change the heart and soul.” Sunday Times, May 1, 1981

“I came to office with one deliberate intent: to change Britain from a dependent to a self-reliant society — from a give-it-to-me, to a do-it-yourself nation. A get-up-and-go, instead of a sit-back-and-wait-for-it Britain.” Speech, Feb. 8, 1984

“It was a lovely morning. We have not had many lovely days. And the sun was just coming through the stained glass windows and falling on some flowers right across the church and it just occurred to me that this was the day I was meant not to see.” Channel 4, Oct 15, 1984, following an assassination attempt by the IRA.

“I like Mr. Gorbachev. We can do business together.” — BBC, Dec. 17, 1984

“No. No. No.” — House of Commons, Oct. 30, 1990

Margaret Thatcher, the former British prime minister who became one of the most influential global leaders of the postwar period, died at age 87

Updated April 8, 2013, 8:03 a.m. ET

Margaret Thatcher Dies

By ALISTAIR MACDONALD

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LONDON—Margaret Thatcher, the former British prime minister who became one of the most influential global leaders of the postwar period, died on Monday, three decades after her championing of free-market economics and individual choice transformed Britain’s economy and her vigorous foreign policy played a key role in the end of the Cold War. Mrs. Thatcher, who grew up in an apartment without hot water above her father’s grocery store in Grantham, eastern England, went on to become Britain’s first female prime minister and arguably the country’s dominant political figure since Winston Churchill. She was 87.

She was a key ally and close friend of former U.S. President Ronald Reagan, sharing with him a view on free-market, monetarist solutions to the economic problems of the day, as well as an uncompromising stance on how to handle the former Soviet Union, earning her the nickname “the Iron Lady.” Together the two led a rightward shift in Western politics that extolled the virtues of a free-market economic system with little government intervention that has largely endured, though aspects, such as the deregulation of financial services, have been questioned during the credit crisis. In moves that were widely copied, Mrs. Thatcher took on Britain’s all-powerful trade unions and privatized state-run industries, governing with a take-no-prisoners style that earned her both admiration and dislike.

In China, off-balance-sheet lending risks lurk in the shadows

In China, off-balance-sheet lending risks lurk in the shadows

3:33am EDT

By Gabriel Wildau and Shengnan Zhang

SHANGHAI (Reuters) – China’s banks are feeding unwanted assets into the country’s “shadow banking system” on an unprecedented scale, reinforcing suspicions that bank balance sheets reflect only a fraction of the actual credit risk lurking in the financial system.

Banks’ latest earnings reports only added to concerns. Despite the slowest economic growth in 13 years in 2012, the banking system’s official non-performing loan (NPL) ratio actually declined, renewing a debate about how reliable those figures are.

But the key question is no longer how much risk banks are carrying. Rather, it’s how many risky loans have been shifted to the lightly regulated shadow banking institutions – mainly trust companies, brokerages and insurance companies.

The risk to the overall financial system is not clear, because of insufficient data about the quality of credit in the shadow banking sector. Read more of this post

China’s President Xi Jinping said the days of “ultra-high speed” growth in the world’s second-largest economy – which many hope can spur a global recovery – are probably over.

China’s Xi says “ultra-high speed” growth probably over

POSTED: 08 Apr 2013 5:32 PM

China’s President Xi Jinping said Monday the days of “ultra-high speed” growth in the world’s second-largest economy – which many hope can spur a global recovery – are probably over.

BOAO, China:  China’s President Xi Jinping said Monday the days of “ultra-high speed” growth in the world’s second-largest economy — which many hope can spur a global recovery — are probably over.

“I don’t think we will be able to sustain an ultra-high speed of economic growth and it is not what we want either,” Xi told about two dozen foreign business figures on the southern island of Hainan. Read more of this post

Hey, Fund Companies: Share the Wealth; The oft-practiced but rarely disclosed tactic of securities lending has landed BlackRock and State Street in the courts. Here’s what this practice is, and why it matters to you

SATURDAY, APRIL 6, 2013

Hey, Fund Companies: Share the Wealth

By BRENDAN CONWAY | MORE ARTICLES BY AUTHOR

The oft-practiced but rarely disclosed tactic of securities lending has landed BlackRock and State Street in the courts. Here’s what this practice is, and why it matters to you.

When funds lend their holdings to short sellers, shareholders take on all of the risk—but they don’t always get to keep all of the profits.

A handful of pension funds and trusts are suing giant asset managers, includingBlackRock (ticker: BLK) and State Street (STT), over the arcane realm of securities lending. The claim: The firms kept too much profit from this corner of fund management for themselves, instead of disbursing more of those profits to exchange-traded-funds’ shareholders and other fund investors.

The lawsuits focus attention on an industrywide practice whereby asset managers lend (usually to institutional short sellers) stock held by its funds in exchange for various fees and cash collateral, on which they collect interest. Securities lending is common enough that it probably contributes to your funds’ returns—so long as the asset manager rewards you with most of the income it collects, instead of keeping gobs of it at the corporate level. The latter is at the heart of the continuing lawsuits, and while it might not be a bad thing for the firms’ stockholders, it behooves you to know who’s getting what. It’s the fund shareholders, after all, taking on the risk of lending the securities. Read more of this post

Shanghai McDonalds Slashes McNuggets Price By Nearly Half As Birdflu Fears Drive Away Buyers

Shanghai McDonalds Slashes McNuggets Price By Nearly Half As Birdflu Fears Drive Away Buyers

Tyler Durden on 04/07/2013 22:48 -0400

How do you know when the people “just say no” to chicken over rampant bird flu concerns? When even McDonalds (whose ad campaign for the past decade “I am loving it” continues to be an anagram for “ailing vomit“) is forced to slash chicken-related prices, in this case the 20 piece McNuggets, from CNY36 to CNY20. Pretty soon not even giving away the McMystery meat will clear out the shelves of all chicken-related fast food first in Shanghai and soon elsewhere in China. Finally, we dread to imagine the horrors that will befall Yum (read China KFC sales), now that after so much pain, the fast-food chain had finally reported a modest bounce in Chinese sales. So much for that.

McD Nuggets Shanghai

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