Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel.
Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich. There is now a self-reinforcing pattern of high profits, low investment, and rising inequality – posing a threat not only to economic growth, but also to democracy.
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Can a public figure have a private life? Recent events in three countries have highlighted the importance of this question.
In the French presidential election, both candidates tried to keep their domestic life separate from their campaign. Ségolène Royal is not married to François Hollande, the father of her four children. When asked whether they were a couple, Royal replied, “Our lives belong to us.” Similarly, in response to rumors that President-elect Nicholas Sarkozy’s wife had left him, a spokesman for Sarkozy said, “That’s a private matter.”
The French have a long tradition of respecting the privacy of their politicians’ personal lives, and French public opinion is more broad-minded than in the United States, where an unwed mother of four would have no chance of being nominated for the presidency by a major party. Indeed, last month, Randall Tobias, the top foreign aid adviser in the US State Department, resigned after acknowledging that he had used an escort service described as providing “high-end erotic fantasy” – although Tobias said he only had a massage.
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