Our nation’s ongoing economic travails may be entering a new phase, but are not ending. The stock market has recovered from lows set in March, the rate of job losses may be easing and some indicators may show credit is…
Investors should flex muscle on exec pay
There is little argument that the CEOs of many major U.S. corporations are overpaid. The relevant questions involve the degree of overpayment and what, if anything, government should do to correct the problem. Of course, “overpaid” is a value judgment…
Bubbling over with optimism
Financial bubbles make smart people pour money down ratholes. That is an underappreciated aspect of bubbles like the one from which we currently are recovering. Gyrations in the value of houses or retirement savings capture people’s attention. So do bankruptcies…
New credit card rules come with a cost
Public discussion of the new credit card legislation makes clear that many people have not thought through the economic functions of this most ubiquitous form of modern consumer debt. Nearly all U.S. adults have a credit card and many of…