In today’s NYT, David Leonhardt digs up some obscure Labor Department statistics to document something I’ve been touching on in this blog: So far, at least, this recession can only be said to be the worst since 1982. Including discouraged workers … the unemployment rate was 7.6 percent last month. Another 5.2 percent of the [...]
From the prologue to Phillip L. Zweig’s Wriston: Walter Wriston, Citibank, and the Rise and Fall of American Financial Supremacy (1995): To bring Citicorp back from the brink in the face of endless criticism, John Reed drew on the capacity for pain he had tapped into as chief of the once-troubled consumer business. As the [...]
