AP Photo/Nam Y. Huh

Welfare outpaces median income in some states

The labor force participation rate was 62.1% last month, notably lower than the 63.4% mark it was at before the coronavirus pandemic struck the United States in March 2020. There are numerous reasons that unemployed Americans aren’t entering the workforce, including ongoing fears of COVID-19, disabilities such as “long COVID,” and other care responsibilities. One […]

New York Folk

New FTX CEO says SBF engaged in ‘old fashioned embezzlement”

FTX’s bankruptcy-era CEO, John J. Ray III, appointed to shepherd the collapsed crypto exchange through Chapter 11 reorganization, testified on Tuesday that the company’s founder and former CEO, Sam Bankman-Fried, made multiple misstatements about his companies’ financials. Ray, who oversaw Enron’s infamous corporate fraud, characterized FTX’s actions as “old fashioned embezzlement.” “This is just taking […]