NBC is reporting that, in one of the least surprising choices of recent days, Barack Obama is going to tap Tim Geithner as Treasury Secretary. Former Treasury chief Larry Summers had been the subject of the most discussion in recent weeks, mainly because he’s said so many entertaining things through the years, but the actual [...]
I’ve got a new column online and in the issue of TIME with a tongue depressor (and a tongue) on the cover. It begins: The phenomenon we now know as Chapter 11 bankruptcy was born during the financial panics that regularly pummeled the U.S. economy in the 1800s. Railroads had emerged as the country’s first [...]
