Tomorrow’s cover today: a useful debate has begun about America’s biggest domestic challenge, but it is comically shallow.
Do a Marx Bros. cover next week, guys.
Italy replaces Berlusconi with a technocrat: Mario Monti, an economist, just took power, and did it with a bunch of people who most assuredly aren’t politicians. Why? Well, Monti isn’t concerned about winning an election. He’s there to fix the country. And because he has such a specific role, he can do things people don’t like to solve the problem. Will this put them on the right track? Too soon to tell.
There are big, big holes in that Wall Street financial reform act — holes big enough for Wall Street traders to drive their Ferraris through. … I think we’re going to be left with a Wall Street that continues to grow more and more powerful and richer relative to the rest of the United States economy.Economist (and Bill Clinton’s Secretary of Labor) Robert Reich • Regarding the economic recovery and financial reform, which he says has not succeeded in helping the middle-class, but has succeeded in allowing the financial industry to get richer. It’s created a disparity that, according to Reich, hasn’t existed since the Great Depression. ”[The middle class] can’t go deeper and deeper into debt. They can’t work longer hours. They’ve exhausted all of their coping mechanisms,” he says. source
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