Corruption

A WhiteHouse.gov petition calling on Obama to introduce a gun control bill has become the site's most popular ever

Only hours after news broke of the tragedy at Sandy Hook Elementary, thousands took to the White House website, calling on the Obama administration to lead on gun control by introducing a bill to Congress.
The goal of this petition is to force the Obama Administration to produce legislation that limits access to guns. While a national dialogue is critical, laws are the only means in which we can reduce the number of people murdered in gun related deaths.

The Twinkie, it turns out, was introduced way back in 1930. In our memories, however, the iconic snack will forever be identified with the 1950s, when Hostess popularized the brand by sponsoring “The Howdy Doody Show.” And the demise of Hostess has unleashed a wave of baby boomer nostalgia for a seemingly more innocent time.

Harvard historian Niall Ferguson ran into an online buzzsaw this week. He says the "liberal blogosphere" was out to do him in, and that was part of it. But there's something bigger at work: a groundswell of resentment for and frustration with the "thought leaders" who craft our conventional wisdom, get paid big speaking fees for it, yet often behave in ways that don't accord with this status. First Jonah Lehrer, then Fareed Zakaria, now this — and surely there will be more such brouhahas to come.

In the year since I stepped down as the special inspector general of the Troubled Asset Relief Program, the sadly predictable consequences of the government’s disparate treatment of Wall Street and Main Street have only become worse. As the banks amass size and power, Main Street continues to get pummeled.

The recent scandals at Barclays Plc, JPMorgan Chase & Co., Goldman Sachs Group Inc. and other banks might give the impression that the financial sector has some serious morality problems. Unfortunately, it’s worse than that: We are dealing with a drop in ethical standards throughout the business world, and our graduate schools are partly to blame.

Our romance with capitalism is a Faustian bargain, but two critiq:ues warn that giving free rein to markets comes at the cost of giving up a part of our soul

Martin Sandbu reviews:

What Money Can’t Buy: The Moral Limits of Markets, by Michael Sandel, Allen Lane /Farrar, Straus and Giroux

How Much is Enough? The Love of Money, and the Case for the Good Life, by Robert and Edward Skidelsky, Allen Lane

Opening paragraph:

It's not completely clear how the fire started, but most historical accounts hold that burning trash in a landfill near an abandoned strip mine ignited an exposed coal vein. The fire spread throughout a labyrinth of coal mines beneath the town, creating a giant underground inferno. 

That was 50 years ago today. 

Half a century later, Centralia, Pennsylvania still burns.  

Academics, donors and some aid agencies have begun measuring what works. Development is becoming a science

I knew I was going to love this job here,” says Anthony Lake, Unicef’s executive director, pointing at his heart beneath his suit jacket. “But,” he points to his head, “it is fascinating here too. There are no boring bits.”

An insider points out the holes that still exist on Wall Street and in the banking system. Exile on Wall Street is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown.