The political message of the Schäuble plan is that Greece will be the last bail-out ever. As preparations for a bail-out reach an advanced stage, the German public reaction has become progressively more hostile. If the Schäuble plan had already been in place, Greece would already have headed to the exit. It is hard to conceive of a situation under the plan where a country simultaneously fulfills the criteria for aid, and needs it.

Let's bring back the robber barons...I say, bring 'em back, and the sooner the better....

She was the best student her adviser had ever seen (or so he said); it seemed like a dream when she was admitted to a distinguished doctoral program; she worked so hard for so long; she won almost every prize; she published several essays; she became fully identified with the academic life; even distancing herself from her less educated family. For all of those reasons, she continues as an adjunct who qualifies for food stamps, increasingly isolating herself to avoid feelings of being judged. Her students have no idea that she is a prisoner of the graduate-school poverty trap.

Ben Bernanke has been confirmed to a second term as head of the Federal Reserve.

Although he was Time magazine's Person of the Year , Bernanke's confirmation had been in question because of criticism of his approach to bank regulation before last year's financial crisis.

The final vote was 70-30 -- a record number of votes against a Fed chairman.

Unlike previous recessions, the current downturn was not caused by Federal Reserve tightening and therefore couldn't be reversed by lowering interest rates. President Obama was correct to conclude that boosting economic activity required a fiscal stimulus.
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