Jaime Fuller

Jaime Fuller is a former associate editor at The American Prospect

Recent Articles

The Eurozone Marathon

Today's Balance Sheet: Greece has a new eurozone bailout, but that doesn't mean the country is out of the woods just yet.

Early today, eurozone finance ministers finally approved the €130 billion rescue package to prevent Greece from defaulting, a move that will hopefully keep the country off the precipice before its bond repayment comes due March 20. Investors who own €200 billion of Greek debt have been asked to forgive 53.5 percent of the face value of the bonds, which will cut Greece's €350 billion debt load by €107 billion. This rescue package is contingent on Greece enacting stricter austerity measures. Although the eurozone is taking big actions to prevent a financial crisis from spreading, its members are nowhere near being out of the woods. March 20 will be an important milestone, but even then the eurozone won't be out of ulcer-inducing territory for months. As Olli Rehn, European monetary affairs commissioner, said after the 14-hour meeting that hammered out the bailout plan, “I have learnt that marathon is indeed a Greek word.” The Latest Bailout News Aids U.S. Futures The Wall Street Journal...

Foxconn Tiptoes Out of The Jungle

Today's Balance Sheet: Foxconn announced a 25 percent pay raise for their factory workers on Saturday.

Foxconn Technology—responsible for assembling iPhones, Xbox 360s, and Dell computers— announced a 25 percent pay raise for its employees at Chinese factories on Saturday. News of the raise comes after weeks of increased scrutiny of the working conditions at the plants, which together employ 1.2 million workers who work as much as 14 hours a day. The pay raise comes with a limit on overtime hours. “This is the way capitalism is supposed to work,” said David Autor, a MIT economist, to The New York Times. “As nations develop, wages rise and life theoretically gets better for everyone. The reaction from consumers will test the viability of moving away from low factory wages. As Autor said, "In China, for that change to be permanent, consumers have to be willing to bear the consequences. When people read about bad Chinese factories in the paper, they might have a moment of outrage. But then they go to Amazon and are as ruthless as ever about paying the lowest prices.” The Latest Surge in...

Happy Presidents' Day!

We'll be updating Vox Pop with new posts throughout the day, but expect it to be a little lighter than usual, it being a federal holiday and all. We'll be back in full force tomorrow though, getting excited for Wednesday's debate (the first one in 33 days ... not that we've been counting), and looking ahead to the Michigan primary on the 28th. Enjoy your day off!

Romney's Endgame

(AP Photo/Gerald Herbert)
Mitt Romney’s ambitions for the 2012 primary have never been mysterious. He’s in it to win it, and with a weak field, the primaries should have been a mere prelude to his coronation. Things haven't worked out that way. First there was Rick Perry in September, a chiseled Texan with conservative cred, undone by his inability to list more than two government agencies at a prime-time debate. Herman Cain, charismatic and entertainingly unpredictable, was finally brought down by a raft of sexual harassment-allegations in October. After the South Carolina primary, Newt Gingrich took the lead, but Gingrich couldn’t overcome his own reputation and inability to be likeable. Santorum, the former Pennsylvania senator with antiquated social views, seemed destined to sit on the bench the whole primary season, but has suddenly been catapulted to the front of the pack because of his appeal to the most conservative edge of the party. When facing the first few challengers, Romney wasn’t worried. He...

Money Makes Good Partners

Today's Balance Sheet: The United States is a bit nervous about getting any more involved with the euro crisis.

As Europe works toward bringing Greece back from the edge of default, the United States is trying to puzzle out how good of a partner we want to be to the eurozone. Lael Brainard, the Treasury's top international diplomat, told the Senate banking committee yesterday that the International Monetary Fund doesn't need an infusion of cash from the U.S. in order to create a buffer from whatever may happen with Greece and the other European economies. “The challenge Europe faces is within the capacity of the Europeans to manage,” she said. The IMF is trying to amass $500 billion for a safety lending fund in case Europe takes a turn for the worse, and with the U.S. sitting out and only $196 billion pledged from the eurozone, the organization is turning to emerging markets to make up the difference. Even without Brainard's caution, the Obama administration would likely shy away from giving billions to Europe during an election year overshadowed by domestic economic problems. The Latest...