Jed Rakoff, a former prosecutor, has an interesting piece in the NYRB about why there have been no prosecutions of financial industry employees over the systemic fraud surrounding the financial crisis. The whole piece is worth a read, but here are the main points boiled down: 1) The FBI is consumed with terrorism, apparently cutting… Read more »
Some of the more pernicious theorized effects of income inequality is just what happens to accumulated wealth at the top. (Apple’s cash hoard is now something like $150 billion, just for an example.) Because when individuals and institutions accumulate money, due to longstanding cultural and business practice they expect to earn interest. With US debt… Read more »
This is quite a striking piece from the NYT: In a city of seemingly endless highways — with its daily parade of car accidents, frustrating traffic jams and aggressive drivers — the Los Angeles Police Department these days is training its sights on a different road menace: jaywalkers. …the enforcement has struck many of the… Read more »
Nudged by Bill Clinton, an economy based more on recreation than extraction is transforming the rural West.
That’s it for us this Christmas Eve lite blogging day, as always, thanks for reading and commenting. Here are some snippets for Santa to read on his iPad while zipping around this evening: 1. Interesting bit of history: the FBI once thought It’s a Wonderful Life was communist propaganda. Merry Christmas, Mr. Potter! 2. Dan… Read more »