* Editorial: Budget ax falls, but not on state prisons (Sacramento Bee)
California lawmakers made major spending cuts to help fill budget holes for the current year and for 2009-10. But one area of the budget was conspicuously spared: the prison system.
* Printing money: Has Mervyn King turned into Paul Daniels? (Alistair Osborne., Telegraph)
Quantitative Easing is not a required trick for membership of the Magic Circle. But maybe it will be, once Alistair Darling and Mervyn King have perfected conjuring money out of thin air.
* Printing money: an easy guide to quantitative easing (Telegraph)
Interest rates are now as close as they can get to zero without causing malfunctions in the financial system.