When Goldman Sachs can’t make money you know times are tough in the banking business. In mid-September I wrote a feature story for TIME magazine about how our nation’s banks, despite the bailout, were far from fixed, and how that …
When Goldman Sachs can’t make money you know times are tough in the banking business. In mid-September I wrote a feature story for TIME magazine about how our nation’s banks, despite the bailout, were far from fixed, and how that was dragging down the economy. This week’s earnings reports from the big banks are new evidence of how true …
The 9-9-9 tax plan of Herman Cain, the former CEO of the Godfather’s Pizza chain who is now running for president, has a $29,000 problem. That’s roughly the difference between how much more the average American family would pay and how much less the richest 1% would pay Uncle Sam each year under the tax overhaul proposed by Cain last …
The idea that regulations eliminate jobs has been a persistent Republican talking point this year. At Tuesday night’s GOP presidential debate, former Massachusetts governor Mitt Romney said, “Of all the Obama regulations we say no. It costs jobs.” And he wasn’t alone. Texas governor Rick Perry said that regulations “are strangling the …
Back in 2007, America was experiencing a mini-baby boom. The recession brought that to a quick halt. As early as 2008, the country saw a significant drop in birth rates. Baby booms and busts do tend to follow economic cycles. But …
Back in 2007, America was experiencing a mini-baby boom. The recession brought that to a quick halt. As early as 2008, the country saw a significant drop in birth rates. Baby booms and busts do tend to follow economic cycles. But what was surprising was how quickly birth rates cratered, dropping even before it was clear we were in a …
Hip, hip hooray. We have jobs. But the fact that that’s the economic cheer of the day is a bit depressing.
Hip, hip hooray. We have jobs. But the fact that that’s the economic cheer of the day is a bit depressing.
Still, for the first time in months, the most important indicator of where the economy is headed was better than expected. And it showed that we are actually moving farther away from a recession, and not slipping into a slowdown …
Figuring out just what the Occupy Wall Street movement wants has been difficult for even reporters who are steeped in policy and liberal platforms. Ezra Klein of the Washington Post heads down to ground zero, both literally and figuratively, for Occupy Wall Street, and comes away with this:
Some of the people camped out Zuccotti Park
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A country populated by people whose nationality here doubles as the name of a sugary breakfast treat is probably the last place you would expect to take on fatty foods. But that’s exactly what’s happened. This week Denmark became the first country in the world to levy a tax on fats. Danes will pay an extra $0.12 at the register when …
The twist is on. On Monday, Ben Bernanke launched his latest effort to boost the economy. The stock market, for one, seems skeptical it will work.
The plan, which has been dubbed Operation Twist, is for the Fed to cash out of $400 billion worth of its short-term bonds and replace them with long-term debt. The first move came Monday …
Depending on how you look at it, U.S. banks could lose as much as $1 trillion if the current money troubles in Europe were to lead to a full blown financial crisis. Or they could lose close to nothing. It depends on who you believe. Understanding why there is a difference of opinion is at the heart of knowing whether U.S. banks are …
