But Britain's existing railways were largely built by private companies, whose backers eventually lost their shirts.

ECONOMIST: The politics if not the economics are turning in favour

Try telling that to banks that have lost their shirts on top-notch mortgage-linked securities.

ECONOMIST: An enjoyable but incomplete look at Mammon's ups and downs

When, this winter, they duly did, nearly half the people lost their shirts.

ECONOMIST: Albania

Some investors who lost their shirts in 1994 are starting to ask whether this is the start of another global bear market.

ECONOMIST: American interest rates

But another result was to save Salvatore Cacciola, owner of one of the two banks, from personal bankruptcy (it was only his investors who lost their shirts).

ECONOMIST: Brazil

Some investors lost their shirts on Millennium.

FORBES: Biotech Battle Scars

Most of the others lost their shirts.

FORBES: Perspectives

They lost their shirts.

FORBES: Digital Rules

So the ladies kept their shirts on, while the farmer lost his.

ECONOMIST: From Calvinism to cruising