Today’s New York Times hyperventilates about financial industry bonuses. There are no fewer than three articles, each with an angle on what appears to be a major topic. So I think we need to take a deep breath and approach things more calmly. First: we should not conflate the entire financial industry with Wall Street. […]

For a variety of reasons I cannot let this pass. Today’s Wall Street Journal has an interesting story about the tension between the Federal Reserve Board and Bank of America. Unfortunately the story is hidden behind their subscription service wall so I won’t pass on the link to you. A summary of the story is […]

Today’s release from the Department of Labor continues our run of bad news. Initial claims for unemployment insurance increased yet again, this time reaching 626,000, the highest level in 26 years. Here’s the press release: ETA Press Release: Unemployment Insurance Weekly Claims Report I have said before, but it bears repeating: this is not the […]