(The Telegraph - U.K.)

By Jamie Dunkley

US Federal Reserve chairman Ben Bernanke: "We're working on it. And I do think that we will get it stabilised, and we'll see the recession coming to an end probably this year. "We'll see recovery beginning next year. And it will pick up steam over time." (...)

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Text of the letter from Chrysler executives to employees:

Dear Employees,
Today, we are at a crossroads in the history of Chrysler.

Let's take a look at what's happened in the past few weeks. On February 17 and February 20, Chrysler submitted its Viability Plan to the U.S. Treasury and U. S. Administration; and to the Canadian governments, respectively. On March 30, U.S. President Barack Obama stated that Chrysler's Viability Plan was unacceptable.

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- the great banking crisis of 2008 is over. It began last September 15 when Lehman Brothers filed for bankruptcy and bottomed when Citigroup (C) traded below $1 last month"

- Douglas A. McIntyre, on Time Magazine

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- "China is the biggest engine that exists to lead the world beyond the crisis".

"A new world is being born, a new balance, the multipolar world that we have all dreamed about for a long time. The unipolar world went down, the power of the empire of the United States, and Mao Zedong ended up being right when he talked of the 'paper tiger' of the empire," the Venezuelan leader said

- Hugo Chavez, during a meeting on Wednesday with his Chinese counterpart, Hu Jintao

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- "I always lived very frugally. I flew around on a private jet. I had a boat. But I always lived very frugally. I'm not a high-fallutin guy."

- "What people have always said about me is that I'm more in touch with the valet and the maitre d' than I am with the president and CEO."

- Allen Stanford, Texas billionaire charged with orchestrating a massive Ponzi scheme

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China's New Strut (Beijing News via The New Yorker - China)

Chinese papers this week have cast the G-20 as a moment of ascendancy, describing China and the U.S. on an equal footing. The Beijing News declared: "Facing Crisis, China and the U.S. Huddle Together Around the Fire." The 21st Century Business Herald headlined its story, "Hu Jintao's Four Proposals Show the Responsibility of a Superpower."

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