Actually, they simply want to have their cake and eat it too: they dream of a way out of a crisis generated by an excess of public debt that does not entail a retrenchment of government activities.

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First, Westinghouse's financial crisis had generated a large potential tax write-off, which it could set against profits in future years.

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After a half century of observation, examination, and consultation, as a classroom teacher, university lecturer, academic advisor, pastoral counselor, and ER crisis counselor, I have concluded that our image filled minds are generated as complex mental holograms by our equally complex, functioning brains.

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That said, today's banking White Paper from the Treasury, which translates Vickers into firm policy, contains all sorts of other measures to limit the exposure of taxpayers to our banks - such as ring-fencing retail operations, so-called resolution procedures for breaking up banks in a crisis, and forcing banks to hold more debt able to absorb the losses that are generated when things go horribly wrong.

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