How the Wealthy Waged War on Each Other

Last week, I wrote that the Republican claim that Obama is fighting a war against the rich was bogus. Over the weekend, I thought better of it. It turns out there is a war on the rich. Only it's not being waged by vicious overlords in Washington intent on depriving honest, hardworking stiffs of their livelihoods. Rather, it's a civil war, a war between the rich. It's Park Avenue marauding through SoHo, Buckhead rampaging through Hilton Head, Palm Beach shelling Bal Harbour with the big cannons.Call it the War Between the Estates.In the past two years, since the market peaked, investors have suffered some $11 trillion in stock losses. Of course, stock ownership is more widely spread today than it has been in the past. But wealth is also much more concentrated than it has been at any point since the 1920s. And so while all ships are swamped by a rising tidal wave, some of the yachts have suffered the most damage. The worst of the losses haven't been in mutual funds and college-savings...

Daniel Gross: Won't Anyone Give Bush a Job?

For many of President Bush's critics, the fact that he is now seeking work in the worst job market in a generation is poetic justice. As 43 noted in his farewell press conference, he is too much of a Type A for "sitting with a big straw hat and a Hawaiian shirt, sitting on some beach." (He might want to reconsider. Thanks to the economic malaise, tropical resorts are running great promotions.) Given recent history, Bush has reason to think he might be able to monetize his presidency. Bill Clinton reported income of more than $90 million between 2000 and 2007.But Bush probably shouldn't expect to post Clintonian numbers. Ex-presidents peddle image, presence and experience; in Bush's case, each is tarnished. To aggravate matters, many of the industries in which ex-presidents make easy money are (a) doing poorly, and (b) based in the Axis of Acela, the Washington-Boston corridor in which Bush hostility runs deep.An ex-president's first move is usually a book deal—Bill Clinton got an...

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