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Fed’s Raskin Bemoans Quality of New Jobs (WSJ)
Eric Morath and Victoria McGrane report that Federal Reserve Governor Sarah Bloom Raskin, a panelist at yesterday's Roosevelt Institute conference, said she became concerned about the kinds of jobs being created when she attended a job fair. The disconnect she's seeing is one where the jobs don't require the skills and education of the unemployed.
- Roosevelt Take: Richard Kirsch agrees that the quality of the jobs we create is just as important as the quantity.
Rich Countries Are Creating More Jobs By Creating Worse Jobs (The Atlantic)
Tim Fernholz says that bad jobs (as measured by wages, benefits, and hours worked) make up the bulk of the jobs being created in advanced economies internationally. No surprise, the lack of good jobs is leading to a shrinking middle class.
White House Threatens to Veto Spending Plans Unless Broader Budget Deal Reached (WaPo)
Lori Montgomery writes that unless the House comes up with a budget plan that includes eliminating sequestration and sufficient stimulus to kick-start the economy, the administration is threatening to veto every single spending bill that crosses the president's desk.
AIG, Prudential Financial, and GE Capital Receive Preliminary Designation as "Systemically Important" Financial Institutions (Slate)
Matt Yglesias explains why these firms, which aren't really banks, should still be subject to higher scrutiny under Dodd-Frank. These companies hold bank risks, and are the reason regulating bank size isn't enough when we consider "Too Big To Fail."
Price-Gouging Cable Companies are our Latter-Day Robber Barons (The Guardian)
Heidi Moore accuses cable companies of creating an environment where a near-essential service is inaccessible to many households due to cost. Worse, no one in Washington is even trying to regulate this industry, allowing the oligopolies to set whatever prices they like.
From Lottery to Oligopoly in Wireless Spectrum (NYT)
Eduardo Porter suggests that as the F.C.C. auctions off the last chunk of the spectrum preferred by wireless companies, it should place limits on what companies can buy in order to encourage competition.
Detroit’s embarrassing new get-out-of-debt scheme (Salon)
Jillian Steinhauer writes that no government should have to sell off cultural artifacts to get out of debt, but the Emergency Manager of Detroit disagrees and is having the collection of the Detroit Institute of Arts appraised. Would he suggest Greece slap a price tag on the Acropolis?