The image of former Merrill Lynch boss (and 740 Park penthouse owner) John Thain‘s wife asking for a plain paper bag when she went shopping at Hermès not long ago — and then being ridiculed for it — highlights the disconnect between the media’s “the sky is falling” reporting on the economy and the real big picture. The big picture is that people need to be encouraged to start spending again, albeit more carefully, not be shunned for it. So herewith a modest proposal. Since, Andrew Cuomo notwithstanding, odds are we’ll never be able to claw back big bonuses from … Continue reading