For the first year since the recession, median household incomes did not decline in 2012. But it's hardly a reassuring picture. Incomes were flat despite the economic recovery and big gains in the stock market. That's a troubling aspect about today's labor market. It's four years since the official end of the recession and many households are worse off than when it started.
Originally published on Tue September 17, 2013 6:45 pm
When William M. Daley — son and brother of famous Chicago mayors, former Obama White House chief of staff and all-around Democratic pooh-bah — was President Clinton's commerce secretary, he kept in his office a framed passage from Theodore Roosevelt's "Citizenship in a Republic" speech.
"It's not the critic who counts. ... The credit belongs to the man who is actually in the arena."
A decision by a federal judge paves the way for the forfeiture of a 36-story Manhattan building that the U.S. alleges is secretly owned and controlled by the government of Iran.
The court agreed with the United States Attorney for the Southern District of New York that the owners are a front for the Iranian government and therefore in violation of the International Emergency Economic Powers Act, which restricts commerce with Iran.
A few years ago, Brown University commissioned a study of its own historical connection to the Atlantic slave trade. The report found that the Brown family — the wealthy Rhode Island merchants for whom the university was named — were "not major slave traders, but they were not strangers to the business either."