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In Thrall to Sheldon Adelson

Instead of repudiating a casino mogul’s billions, Mitt Romney and Paul Ryan get even closer and jeopardize the integrity of their campaign. Read the complete editorial: http://www.nytimes.com/2012/08/17/opinion/in-thrall-to-sheldon-adelson.html?smid=pl-share ...

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Vanishing pensions

Less than 30% of firms offer The time-honored American institution of a company-financed pension is going the way of the company car. The defined-benefit pension is a vestige of a bygone era, says Alex Pollock, a scholar at the American Enterprise Institute, who also questions the idea of Uncle Sam guaranteeing pensions. That is a system that started back in the 1970s at the suggestion of Nat Weinberg, an e ...

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Funding the ‘Final Frontier’

The day after Curiosity touched down on Mars, an incredible once-in-a-lifetime technological achievement for NASA, a giant step for scientific research, and a dramatic affirmation of America's legacy of pioneering spirit, CNBC came up with this beauty: "Perhaps one of the most significant parts of last might's landing is the renewed debate over space and as taxpayer exploration funding -- a necessity or sim ...

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Let Detroit Go Bankrupt

Mitt forecast disaster if the Obama Administration did what it promised to do. His approach was not possible: there was no private investment money for a managed bailout. And he was wrong in results: the industry is doing quite well. But that doesn't stop Mitt: He now takes credit for the Administration's success. November 18, 2008 A managed bankruptcy may be the only path to the fundamental restructuring t ...

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F.D.A. Makes It Official: BPA Can’t Be Used in Baby Bottles and Cups

July 18, 2012 This decision doesn't go as far as it should, but it sounds like the chemical industry did the right thing, whether for the right reasons or not. Of course, teabaggers and libertarians may be upset that their children can no longer drink from cups that contain a chemical that mimics estrogen. The agency’s decision to prohibit the industrial chemical bisphenol A in baby bottles and children’s d ...

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My Big Fat Belizean, Singaporean Bank Account

July 29, 2012 Mitt Romney has been criticized for hiding his money in offshore bank accounts. Of course, he sees nothing wrong with the practice, and has said the American people wouldn't respect a person who paid more than his legal share of taxes. That may be true, at least among those Americans with the wealth and corporate power to take full advantage of the opportunities to pay less -- and to keep as m ...

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Journalism’s Misdeeds Get a Glance in the Mirror

July 29, 2012 The hacking scandal in Britain has mostly been treated as a malady confined to an island, rather than a signature event in a rugged stretch for journalism worldwide. Read more: http://www.nytimes.com/2012/07/30/business/media/holding-up-a-mirror-to-journalism-the-media-equation.html?smid=pl-share ...

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Regulators knew Libor was rigged

July 21, 2012 The Libor scandal hit US shores this week, but bank regulators just shrugged their shoulders. It appears from their reactions that problems with the London Interbank Offered Rate — which is used to price trillions of dollars in US mortgages, car loans and credit cards as well as derivatives — aren’t a big deal. Fed chief Ben Bernanke said during Capitol Hill testimony last week that he was tro ...

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O’s “Bain” There

July 22, 2012 Private equity has been the focal point of this year’s presidential campaign. Democrats and the White House have used Republican Mitt Romney’s past private-equity deals to paint the image that Bain Capital helped destroy companies and put Americans out of work. Still, President Obama is closely aligning himself with supporters who have PE deals in their own closets with less than stellar resul ...

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40 Economists Say The GOP Has Abandoned Economic Reality

July 25, 2012 A survey of forty economists from across the ideological and partisan spectrum has concluded that on some of its most cherished issues, the Republican Party has simply taken leave of economic reality. For instance, economists Betsey Stevenson and Justin Wolfers noted that one of the results from the survey — run by the University of Chicago’s Booth School of Business, which is hardly known for ...

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