Public borrowing is costly these days, true, but interest rates on municipal bonds are still considerably lower than those borne by corporate debt.
Thomas FrankAmericans have known about mounting inequality and king-sized Wall Street bonuses for years. But we also had an entire genre of journalism dedicated to brushing the problem off.
Thomas FrankPrivatizing bits of the prison industry was a step in the right direction, but what we didn't have - until recently - were proper instruments for incentivizing the judiciary. That's what the 'kids for cash' judges were apparently experimenting with.
Thomas Frank