World Economics

Excellent piece from Robert Peston (BBC's best Business & Market Analyst by a country mile) about the scary possibility that a single rogue trader - the French chap on the run from SocGen - has forced the recent dramatic rate cut by Federal Reserve bank.

It does raise the question of whether the US would be better served protecting themselves from accidental (or otherwise) economic attack, rather than spending the billions of dollars they have in stopping a so far non-existent terrorist attack.

Although this could just be the funniest thing the French have ever done to the US.