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What’s Wrong With the U.S. Job Market? (Businessweek)
Peter Coy tries to answer the million-dollar question from the supply and demand angle, also noting solutions like Roosevelt Institute Senior Fellow Jeff Madrick’s call for companies to pay workers enough to buy their own products. Built-in marketing!
Economists See Deficit Emphasis as Impeding Recovery (NYT)
Jackie Calmes and Jonathan Weisman report that the Serious People are starting to corroborate what the filthy hippies have been saying for four years, as economic growth reports consistently include regretful footnotes about what Washington’s up to.
Bernanke, Blower of Bubbles? (NYT)
Paul Krugman argues that there’s little evidence of a bond or stock bubble emerging despite the misgivings of Ben Bernanke’s critics, who wish the Fed would forget the unemployment thing and focus on other problems, even if they don’t actually exist.
Congress Moves to Weaken Dodd-Frank Reforms That Officials Want Strengthened (Think Progress)
Travis Waldron notes that the House Financial Services Committee has advanced a package of six bills that would weaken derivatives regulations and ensure that federally insured banks don’t feel like we’re asking too much in exchange for our money.
Unions to Banks: Pay Up (Prospect)
Sarah Jaffe highlights a new plan embraced by labor leaders fighting cuts to public employees’ pensions: close state budget gaps by making banks pay back what they stole through LIBOR-rigging and shady muni deals. Better check the silverware, too.
Fed says some were underpaid in U.S. foreclosure settlement (Reuters)
First the initial round of checks issued to victims of foreclosure abuse bounced. Now it turns out that about 96,000 checks issued in the second round were made out for less than what borrowers were owed. Go home, Rust Consulting. You’re drunk.
How colleges are wooing the rich and sticking the poor with the bill (WaPo)
Dylan Matthews notes that while colleges are receiving massive federal subsidies intended to make higher education more affordable, a new report suggests they’re shifting that money around to lure in future wealthy alumni rather than needy students.
The Price of Safety: Why Cheap Regulation Creates Expensive Crises (The Atlantic)
James Kwak writes that when it comes to airplane inspections or financial chicanery, regulators lack the resources to provide adequate oversight, and leaving it up to firms to monitor their own risk is like letting a four-year-old come up with his own meal plan.