Felix Salmon

Occupy defined-benefit pension funds!

I’m working my way through The Occupy Handbook, your excellent one-stop shop for analysis of the financial crisis and everything about it. A lot of really big names have pieces here: among the authors you’ll find Michael Lewis, Paul Krugman, Gillian Tett, John Cassidy, Raghuram Rajan, Bethany McLean, Daron Acemoglu, Carmen Reinhart, David Graeber, Nouriel Roubini, Pankaj Mishra, Ariel Dorfman, Barbara Ehrenreich, Peter Diamond, Brad DeLong, Martin Wolf, Scott Turow, Robert Reich, David Cay Johnston, Eliot Spitzer, Lawrence Weschler, Tyler Cowen, Jeff Madrick, Dan Gross, Jeff Sachs, and even Paul Volcker. (Full disclosure: I’m in there too.)

The unemployment debit-card scandal

Few people despise paper checks as much as I do. They’re expensive, insecure, anachronistic, and dangerously reliant on the less-than-stellar delivery record of the US Postal Service. Recently, banks in my neighborhood have been swapping out their ATMs with new machines which read checks — something which must be a hugely expensive investment, for them, in a technology which deserves to be killed off with extreme prejudice.