The only state-owned bank in the U.S. (an institution more widely associated with communist China than the Republican Party) can be found in ruby-red, rural North Dakota.
Economy
Herbalife Defends Itself Against Pyramid Allegations. But Does the Market Believe?
One of the more entertaining spectacles in the financial world this past month has been the recent battle between hedge fund manager Bill Ackman and nutritional supplement company Herbalife.
A Heaping Helping of Chutzpah: AIG Considers Suing the U.S. Government For Bailing It Out
Hank Greenberg thinks taxpayers ripped him off in the bailout deal, and he will meet with AIG’s board today in an attempt to convince the company to join his company, Starr International, in a law suit against the federal government.
Debt: How to Win When Everyone Loses
In Washington, consolation prizes–pleasing the base, appearing tough and strong, handling negotiations better–are really the only victories in town.
Good News: Young Americans On the Move Again
Since the recession, American mobility — the rate at which we move between states, counties, and even neighborhoods — has fallen to record lows, which is both a reflection of economic troubles and a hindrance to recovery.
Why Yesterday’s Fed Announcement Is a Big Deal
The Federal Reserve is a famously inscrutable institution.
The Best Way to Cut Government Spending: Get Really Tough on Fraud
As America slides toward the fiscal cliff, both sides are debating ways to reduce the deficit in 2013 and also over the longer term.
Is the Student-Loan Debt Crisis Worse than We Thought?
A new report from the Federal Reserve Bank of New York delivers generally positive news about the economy with one glaring exception: student-loan debt.
Fiscal Cliff: Why Congress Might Have to Mess with the 401(k)
One of the earliest fears about tax-favored savings accounts like IRAs and 401(k) plans was that when this pool of savings grew large enough Congress would not be able to resist tapping it to help solve the nation’s debt problems.
Why the Fiscal Cliff is the Wrong Thing to Worry About
When asked what it was like living through the German bombing of Crete during World War II, British novelist Evelyn Waugh replied that it began impressively enough but went on far too long.
Fiscal Cliff Leaves Non-Profits on Edge
Charities are worried this may be the last season of giving.
As Fiscal Cliff Approaches, Mayors Warn of the Toll on Cities
The so-called fiscal cliff looming on Jan. 1 will increase taxes on just about all Americans and hamper an array of federal programs.
Explainer: Did That $6 Billion in Campaign Spending At Least Help the Economy?
After each election, the media tends to brood over a predictable set of issues, like the small mindedness of campaign policy proposals to the nastiness of negative advertising.