You wonder how professionally run banks could have so severely hamstrung themselves to a degree that turned around to make them, the creditors, eventually insolvent. An expert characterized most of the loans as being mismatched – that is, they were long-term propositions in a situation of short-term investments.

HILARY Rodham Clinton the 67th American Secretary of State swung through seven African countries in 11 days ending August 14. She was like an old conservative headmistress scoring her pupils in examinations she had not conducted, and making remarks on their moral conduct and fitness.

IN the 1930s many developed nations of the Western World faced what was described as the worst economic crisis. Prices of commodities fell, abysmally and the New York Stock Exchange collapsed. That was followed by a severe loss of confidence in the economy, leading to failure of businesses.

The British under Lugard perceived the north as the location of the superior race. Islamic religion of the so called finer race was a better regarded form of paganism than the fetish practices of the savage south.

For sure, everything became uncertain after the crash last year of the money and capital markets in the world’s financial capitals and all dependent on them such as Nigeria, except one thing: the world is going to get far smaller than it has always been.