Icelanders, burdened by more than four years of hardship, are poised to oust the government and return to power the parties that steered the island through a banking-led boom that ended in economic ruin 2008.
David Stockman first came to prominence as Ronald Reagan’s publicity-prone director of the Office of Management and Budget in the early 1980s. In the decades since he was fired from that job, his career in the leveraged-buyout business has been of no great distinction except that it included an indictment for fraud. (The charges were dropped and he paid $7.2 million to settle a civil case brought by the Securities and Exchange Commission.) Now here we are discussing his new book on the corruption of American capitalism, “The Great Deformation.”
Norway’s Prime Minister Jens Stoltenberg is making taxing the rich a focal point as he tries to overcome a deficit in the opinion polls seven months before elections in western Europe’s biggest oil producer.