Banking Insight Comes from Pitcher's Sore Arm
Amity Shlaes, Bloomberg
Can this economy go the distance? The U.S. expanded by 3.2 percent in the last quarter. Americans long for an economy that grows at 4 percent, quarter after quarter, strong enough to shrug off revolution in Egypt, central bank machinations in China and Steve Jobs's health. We want an economy as strong and resilient as a superstar athlete. For that to happen, more people have to be like Gil Meche, the Kansas City Royals pitcher who refused his 2011 salary of $12 million. He decided not to hold his employer to what he was owed under the terms of his contract. Meche wanted to keep pitching....
Can this economy go the distance? The U.S. expanded by 3.2 percent in the last quarter. Americans long for an economy that grows at 4 percent, quarter after quarter, strong enough to shrug off revolution in Egypt, central bank machinations in China and Steve Jobs's health. We want an economy as strong and resilient as a superstar athlete. For that to happen, more people have to be like Gil Meche, the Kansas City Royals pitcher who refused his 2011 salary of $12 million. He decided not to hold his employer to what he was owed under the terms of his contract. Meche wanted to keep pitching....