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How Wells Fargo's CEO Could Have Avoided His Senate Belly Flop


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The Census Bureau reported that median household income jumped 5.2% in 2015, and 3.5 million people rose out of poverty. The Washington Post called it “a spike that broke a years-long streak of disappointment for American workers.”

Bloomberg columnist Barry Ritholtz said that the numbers showed that the recovery from the Great Recession is finally taking hold. “Unlike in recent years, when much of the gains went to an increasingly narrow group at the top of the economic strata, last year’s improvements were broad and deep.”

The New York Times noted the “eye-popping improvement in economic fortunes” but put it in context: “real incomes of most American households still are smaller than in the late 1990s. And large swaths of the country—rural America, industrial centers in the Rust Belt and Appalachia—are lagging behind.” A few days later, though, the Times said that a reported finding that incomes had actually fallen in rural areas was wrong, a result of a definitional change; incomes rose 3.4% in rural areas in 2015.

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Contributors


Laurence Capron
Professor of Strategy, INSEAD

Professor Gary Gorton
Gary B. Gorton
Frederick Frank Class of 1954 Professor of Management & Professor of Finance

Professor Douglas Kysar
Joseph M. Field '55 Professor of Law, Yale Law School

Carolyn Everson
Vice President of Global Marketing Solutions, Facebook

Bryan Kim
Head of Strategy and Marketing for Biosimilars, Boehringer Ingelheim

Dean Karlan
Professor of Economics, Yale University

Ann Olivarius


Tom Zacharias
Chief Operating Officer, W.P. Carey Inc.

Linus Dahlander
Associate Professor of Strategy and KPMG Chair in Innovation, ESMT European School of Management and Technology