Figures from the Internal Revenue Service suggest that nonfinance companies based in the United States are holding more than $5 trillion in cash, triple what the Federal Reserve reports—idle money that Reuters columnist David Cay Johnston suggests would be better spent creating jobs, paying dividends and sharing the burden of taxes.
While European economies stutter and protests in a number of European countries continue to go unanswered, it’s almost hilarious that we may turn to 1990s soccer sensation Eric Cantona for help. A Cantona interview has become a YouTube sensation, launching an online political movement based on non-participation within capitalism.
Fabulist James Frey says on an unaired segment of Oprah that he won’t seek to cash in on his lies. | story We applaud his promise. In the meantime, should we be surprised if his new book, “My Friend Leonard,” turns out to be ridden with mere “essential truths”? Also, see a clip of Frey’s Oprah appearance: video (Internet Explorer req’d)