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Here’s What’s Wrong With Rand Paul’s ‘Audit the Fed’ Bill (WaPo)
Roosevelt Institute Fellow Mike Konczal argues that the Federal Reserve Transparency Act may sound like a nice idea, but it’s really just those opposed to the Fed creating another chance to question it. Reforming the Fed shouldn’t come from opposition.
Over 50 and Out of Work: Program Seeks to Help Long-Term Unemployed (NBC News)
Roosevelt Institute | Pipeline Fellow Nona Willis Aronowitz looks at Platform to Employment, a program in Bridgeport, CT that works with the the long-term unemployed. The program’s founder points out that his work exists because Washington isn’t doing enough.
Caught in a Revolving Door of Unemployment (NYT)
Annie Lowrey looks at the effects of long-term joblessness, which quickly becomes an impediment of its own in the job search. One of Lowrey’s subjects was told directly that the company didn’t hire the unemployed, and studies confirm that bias.
Regulations Are Killed, and Kids Die (The Nation)
Mariya Strauss reports on the tragic consequences of the Labor Department’s withdrawal of regulations that would have limited child workers in agriculture. The child labor protections were killed by pressure from the agricultural lobbies.
Labor Secretary: Raising Minimum Wage is ‘job one’ (MSNBC)
Ned Resnikoff reports that Labor Secretary Thomas Perez supports legislation that would raise the minimum wage and tie future hikes to the Consumer Price Index. White House support follows a wave of popular support demonstrated in this month’s elections.
Why No Bankers Go to Jail (Bloomberg View)
Paula Dwyer explains one federal judge’s theories on why prosecutors are charging the banks rather than executives with criminal wrongdoing. One theory focuses on the difficult and time-consuming nature of financial fraud investigations, which can take years.
JPMorgan’s Twitter Mistake (The New Yorker)
Emily Greenhouse looks at last week’s Twitter snafu by JPMorgan Chase, in which the company invited public questions and got piles of criticism. #AskJPM became proof that the bank doesn’t understand their standing in the power structures of social media.