Socialism for U.S. Tycoons, Capitalism for the Rest: Kristof at the New York Times Reports that Crony Capitalism Comes Home

Kristof has it right at the New York Times,
writing inter alia in Crony Capitalism Comes Home that:

"[I]n recent years, some financiers have chosen to live in a government-backed featherbed. Their platform seems to be socialism for tycoons and capitalism for the rest of us. They're not evil at all. But when the system allows you more than your fair share, it's human to grab. That's what explains featherbedding by both unions and tycoons, and both are impediments to a well-functioning market economy."

We agree. Read the whole op-ed here.

Greek Debt Reduction Deal Forged in Europe

Europe has agreed on a solution to Greek debt reduction. Stephen Fidler and David Enrich have the story at the Wall Street Journal Online at Europe Leaders Forge Greek Bond Deal.

This solution was generally foreseeable.

It is regrettable that so much prior yellow journalism on this topic has marked news stories by mainstream media, who seem more interested in selling sensationalistic doomsday stories than in reporting on the serious, prudent process of solution decision-making in the European Union.

UK Supreme Court Changing Ideas in the United Kingdom About Law and the Judiciary

Martin Kettle has the story
at The Guardian
in
The UK supreme court is changing the way we think about law.