"The message for strivers is that if you want to be very, very rich, start out very rich," is the wondrous conclusion Bloomberg BusinessWeek's Peter Coy has from delving into the details of the latest data on income growth in America. The richest 0.1 percent of the American population has rebuilt its share of wealth back to where it was in the Roaring Twenties.
Despite a devastating recession, the collective personal wealth of congressional members increased by more than 16 percent between 2008 and 2009, according to study released Wednesday by the Center for Responsive Politics.
The House Ethics Committee altered its method for documenting travel expenses for members of Congress that are paid for by outside groups. Until this year, members of Congress have been required to record these free trips on Financial Disclosure Statements, which are completed annually and accessible to the public.
Just when you thought the seemingly endless rabbit hole of Wall Street-Washington corruption, cronyism, co-option, crime and kickbacks may have finally come to an end, here comes the House Ethic Committee to pronounce that no ethics breaches were found among House members in its investigation involving the scandal surrounding Countrywide "VIP loans" and the "Friends of Angelo." And in just doing so, the House effectively cleared itself of any wrongdoing and that's it, case closed - move along... Move along.
That used to be one of the slogans for health-care reform: Every American should have the same insurance choices that members of Congress have. This obscured, to some degree, that members of Congress don't have very interesting choices: Most of them are covered by BlueCross BlueShield. But it sounded good.