Daily Digest - April 26: All's Fair in the Free Market
What you need to know to navigate today's most critical debates.
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Romney's Radical Theory of Fairness (New York)
Jonathan Chait writes that Mitt Romney has good news for all of us: getting rich or being born that way means you're simply better than most other people, so we've already achieved perfect economic fairness. On to the next topic!
How Europe's Double Dip Could Become America's (Robert Reich)
Reich has a warning for those tempted to gloat about economic slowdowns and political upheaval in the eurozone and China: When your next door neighbor's house catches fire, it's not a good idea to just sit back and watch the light show.
Fed Policy Remains on Hold (Money Watch)
Mark Thoma recaps the statement from today's Fed policy meeting, which notes that there's no real risk of creating high inflation, just like there's no risk of them doing more to stimulate job creation because they're so worried about inflation.
Wall Street-Inflated Student Debt Bubble Hits $1 Trillion; Debtors Rally for Relief (AlterNet)
Sarah Jaffe writes that student debt has grown from a mere bubble to the equivalent of the globe Atlas carried on his back, except an entire generation is shouldering the burden and it's policymakers who seem to be responding with a shrug.
Rep. Brad Miller Speaks Out on Why He Wasn't Hired for Mortgage Fraud Task Force (The Nation)
Rep. Miller of North Carolina claims he was one of Eric Schneiderman's top picks to direct the mortgage task force, but was passed over due to either his lack of prosecutorial experience or his desire to see the task force do some stuff.
Let's beef up Social Security benefits instead of cutting them (LAT)
Michael Hiltzik makes the radical argument that instead of destroying Social Security now to prevent the horror of having to mildly tweak it in a couple of decades, we should expand and improve its benefits to help more Americans in need.
Arizona, Immigration, and the Supreme Court: A Dispatch from Foxnewsistan (MoJo)
Adam Serwer writes that the tone of yesterday's Supreme Court hearing on Arizona's immigration law suggested not just that the conservative justices have already made their minds up, but that Lou Dobbs has made them up for them.
Law-enforcement Leaders Agree: State Anti-immigrant Laws Encourage Discrimination (HuffPo)
Ali Noorani notes that while Justice Scalia may have decided in his infinite wisdom that anti-illegal immigration laws have nothing to do with racial profiling or discrimination, those who are actually in charge of upholding them beg to differ.
Chasing Fees, Banks Court Low-Income Customers (NYT)
Jessica Silver-Greenberg and Ben Protess write that financially strapped Americans may no longer need to turn to payday lenders and check cashers to rip them off, since more run-of-the-mill banks are now offering that service as well.
Taxes for union busting (Salon)
Josh Eidelson notes that an executive order stating that companies cannot receive government reimbursement for anti-union activities has been applied with a peculiar definition of the word "cannot" that translates to "might as well go ahead and."
With additional research by Elena Callahan.