Atrios and friends frequently take The New York Times  to task for its coverage of the economic issues facing its affluent readership.  The problem, an old one, is that the Times reader typically makes a lot of money compared to the average but they do not typically make so much money that they are care free wealthy.  This is because the economy does not actually gr

Early in my career at Forbes an editor introduced me to the quotation, "Everybody ought to be right," attributed to a 1929 Ladies Home Journal article by John Jakob Raskob, a financier for General Motors and Dupont and a darned good boom times investor.  What Raskob meant was:

"...a man is rich when he has an income from invested capital which is sufficient to support him and his family in a decent and comfortable manner - to give as much support, let us say, as has ever been given by his earnings."

Timothy Geithner is getting what some on Wall Street will jokingly refer to as his first "real job" as a President and Managing Director at private equity house Warburg Pincus.  At Business Insider, Joe Weisenthal's take is that it could have been worse from a conflict of interest standpoint -- at least he's not as a Too Big To Fail bank, lobbying against regulations.