Remember Flint, Michigan? Congress has appointed an all-powerful board of emergency managers that threaten to ruin the lives of three million Puerto Ricans.
The New York Times lead story describes how a series of private equity firms managed to repeatedly flip the venerable Simmons mattress company, earning themselves huge profits while the company became increasingly mired in debt and ultimately forced into bankruptcy and massive layoffs, with ordinary investors, employees, and company retirees taking a huge hit. I Read More
Last Thursday, April 30, there was a flood of stories that the evening news and the next morning’s papers had to cover: swine flu, Souter’s retirement from the Supreme Court, and the Chrysler bankruptcy, for starters. But the story with perhaps the largest public import somehow managed to escape attention, namely the Senate’s decision to Read More