Laugh of the year: Bernanke claims bank bail outs cost the taxpayer nothing.

See here.

Runner up in the laugh of the year contest is Rupert Merdoch’s claim that he knew nothing about phone hacking.

And third prize goes to Jack Straw, Britain’s former foreign minister, for his claim that he knew nothing about the torture of those “rendered” to Libya from the UK before Gadaffi’s removal from power.

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