Back in November 1942, near the small desert town of Al Alamein, Egypt, the Allies won their first major victories against the Nazis.
Three years of defeats at the hands of the Nazi war machine had left the allied nations battered, brutalised and utterly demoralised.
As a result, the victory in Egypt - while relatively minor in the overall context of the war - represented a major turning point in the conflict and provided the world with the morale boost it so desperately needed.
In his speech to the House of Commons, Winston Churchill explained what the Allies victory in the desert meant for the world in typically simple but effective fashion.
you need not use a central clearing trading. in addition, if you are talking about a contract that is not a standardized contract that the firm in needs, that is also not subjective the center requirements. there is enormous flexibility built in to the chairman s bill with respect to the need for commercial firms in our economy what we want to avoid is a situation in which the financial sector avoids central clearing and transparency requirements. the want to have a system in which anh bank should be using central clearing and exchange trading. that is important to the safety of our system. it is important for protecting the community banks from large wall street firms on the other side of the deals. there is a central counterparty. we think that is critical not to open up the possibilities. iwas going to point out some differences at the appropriate time, but i d the key race inappropriate point. we ought to discuss this now. room there are not many differences with the
hos[captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] these are in the best interest of the country in the best interests of the financial sector. i want to tell you with this reform looks like and why this matter. the bill is being considered in the senate would create what we did not have before. this is a way to protect the financial system and the more broader economy, and american taxpayers. this is in the event that a large financial firm begins to fail. if there is a lehman brothers and an aig. how will we respond in a way that that does not force taxpayers to take this. he is talking to wall street at cooper union. here is the headline on bloomberg. u.s. stocks rose, erasing the biggest effect of goldman sachs facing a lawsuit from the government. the los angeles times front- page has this headline. the pace quickens as there is a finance bill deadline. the regulatory overhaul vote is on monday. this