Economy and Business

Toxic CEO Pay Story

As a critic of runaway CEO pay, I have a lot of scars from debates I’ve done on cable TV business shows. But my most memorable pummeling was in August 2007, when I nearly got my head bitten off for criticizing Countrywide Financial CEO Angelo Mozilo on the CNBC show Squawk Box.

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Gambling: Upbeat, but Slipping

Casino developers have to plunk down a lot of their own chips these days. Few researchers doubt that risk-taking is hard-wired into a slew of human brains, but at what point does over saturation cause the developer to lose his shirt?

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At Last, Larry’s Going Away

Thank God and Harvard–Larry Summers is going away. But not before doing extraordinary damage to America’s middle class and to the man who hired him. Summers, chief architect of Barack Obama’s squirrelly Wall Street policies, says he’ll move on at the end of the year.

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Raise the Minimum Wage

When he was campaigning in 2008, President Barack Obama promised to raise the federal minimum wage, declaring “people who work full-time should not live in poverty.” Obama proposed raising it to $9.50 by 2011. That would merely adjust the minimum wage for inflation and restore its 1968 purchasing power.

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