Dumbing Down Regulation

If only our financial regulations were dumber! It’s not a cry you hear often. But phrased a little differently, it may be the most cogent criticism of the convoluted regulatory approach of recent decades–and one that applies to most of the Obama Administration’s financial-reform proposals. The argument goes like this: the biggest flaw in current financial regulation is not that there is too little of it or too much, but that it relies on regulators knowing best.

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How to Reach Teens in a Recession? Ask Aeropostale

Can a recession actually cause teenage daughters and their moms to shop peacefully together at the mall? Believe it or not, yes. At a New York City shopping center one recent June evening, Adina Armstrong, 13, and her mother Tracy sauntered out of teen retailer Aéropostale, Adina cheerily chirping away on her cell phone, Tracy happily holding a bag full of t-shirts.

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Dear Grandpa, Here’s a Printout of My Facebook Updates…

At 90, Chandler Murray’s mailbox, not counting bills and solicitations, receives only a handful of seasonal letters from a few old friends. “People just don’t write letters anymore,” says his daughter, Heather Bellanca. And by people, she means anyone more than 20 years younger than Murray, who lives by himself in Middlebury, Vt.

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Finally, a British Inquiry into the Iraq War

Former British Prime Minister Tony Blair resisted public pressure for a comprehensive inquiry into the Iraq war. On June 15, his successor, Gordon Brown, raised the white flag, informing the House of Commons that he had ordered an inquiry even before British troops complete their withdrawal from Basra this summer. “Thanks to our efforts and those of our allies over six difficult years, a young democracy has replaced a vicious 30-year dictatorship,” said the Prime Minister.

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Consumer Borrowing Is Down, But For How Long?

Americans relied less on borrowed money in April than they did in March a sign that the pullback on debt-fueled spending continued into the spring. New data from the Federal Reserve shows that outstanding consumer credit which includes credit cards, auto loans and tuition financing, but not mortgages, fell by $15.7 billion to $2.52 trillion, an annualized drop of 7.4%

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Sony, Nintendo unveil game offerings at E3

With the big three gaming-system makers all previewing new or upgraded motion-sensing controllers this week, a new arms race is under way in the video game industry. Joysticks and push-button controllers seem to be on their way out, replaced by simpler, more intuitive devices — similar to Nintendo’s Wii — that let gamers move their arms and legs to guide their avatars’ movements onscreen

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Ex testifies about the man she thought was a Rockefeller

The former wife of a man accused of kidnapping their daughter told a jury Monday about the unraveling of her 12-year marriage to a man she thought was a member of the moneyed Rockefeller family. Financial consultant Sandra Lynn Boss, 42, was stone-faced and repeatedly referred to her former husband as “the defendant” as she took the witness stand Monday at his kidnapping trial. She now lives in London, England, with the girl, Reigh, who just turned 8.

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Twitter’s Biggest Egos, Exposed

Jean-Paul Sartre only had it half right when he wrote that “hell is other people.” Real hell is other people on Twitter. Maybe the trendy messaging web site coaxes contributors into feeling anonymous and uninhibited. Perhaps its short-burst format encourages streams of consciousness that go tragically unedited.

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