America's Most Ineffectual Billionaire

Michael Hiltzik writes today about who's really the most important moneybags in contemporary American politics: The most influential billionaire in America is Peter G. Peterson. The son of Greek immigrants, Peterson, 86, served as Commerce secretary under President Nixon, then became chairman and chief executive of Lehman Bros. Subsequently, he made his big money as co-founder of the Wall Street private equity firm Blackstone Group. ....Peterson's views are subtly infiltrating the Washington deb...