Daily Highlights: 5.18.10

Tyler Durden's picture

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Invisible Hand's picture

The new Chief Secretary to the Treasury (UK), (Lib Dem's David Laws) upon arriving for his first days work, found a note on his desk from his predecessor (Labour's Liam Byrne).

"Dear Chief Secretary, I'm afraid there is no money.  Kind regards and good luck! Liam."

Mr. Laws had opposed spending cuts during the election but seems to rethinking that position.  Wonder why?

Will such an honest assessment of the situation ever be put on paper in the US?  I doubt it.