In the August 5, 2007 New York Times Book review of Robert H. Frank’s new book FALLING BEHIND: How Rising Inequality Harms the Middle Class, Daniel Gross the reviewer notes: Knowing that Steve Schwarzman of the Blackstone Group made almost $400 million last year, or that he spent $3 million last February on his 60th-birthday party, doesn’t simply make the...

Music drifts into our back yard from the benefit party almost one mile away and it’s only 5:00 pm. This is the land of benefits; almost every Democratic candidate for President comes to the Hamptons in the summer to raise money. Last night we attended two parties, to one we were invited, to the other we were not. At the first we met Lloyd C. Blankfein,...