Credit crisis diary: There'll be a writ in the post any day now.

More bad news for British taxpayers. The rest of the world is about to sue us for the not inconsiderable sum of $35trn. Steven Grasse, a member of something called the International Coalition for British Reparations, claims the credit crisis is all our fault. His argument seems to be that since Adam Smith invented capitalism and he was British, we're to blame. Oh, and apparently Margaret Thatcher's City reforms in the Eighties caused a financial deregulation arms race. "Once again, British hubris, greed and complete indifference towards other nations, races and cultures has landed the world with a catastrophic predicament," Grasse concludes. Someone sell that man a sub-prime mortgage"