http://www.nytimes.com/...
Back in the 1940s, '50s and '60s, most of the income gains experienced during expansions — the periods from the trough of one recession until the onset of another — accrued to most of the people. That is to say, the bottom 90 percent of earners captured at least a majority of the rise in income.
But in the first three years of the current expansion, incomes actually fell for the bottom 90 percent of earners, even as they rose nicely for the top 10 percent. The result: The top 10 percent captured an impossible-seeming 116 percent of income gains during that span.
The top 90% contributed more to all politicians than us. They deserve the gains. We can start complaining once we are able to match them.
In other news, tapes showing the govt's weak oversight of Goldman Sachs are probably going to rock Wall Street.
http://www.propublica.org/...
The NY Federal Reserve is supposed to monitor big banks. But when Carmen Segarra was hired, what she witnessed inside the Fed was so alarming that she got a tiny recorder and started secretly taping