In most histories of how Americans became so polarized, the Great Inflation of the 1970s is given short shrift. But inflation was as pivotal a factor in our national crackup as Vietnam and Watergate. New York Times
Before the catastrophic Camp Fire destroyed Paradise, Calif., the Pacific Gas and Electric Company was worth more than $25 billion. Now its C.E.O. has stepped down and the company, which provides natural gas and electricity to 16 million people in California, has filed for bankruptcy as it confronts billions of dollars in potential liability claims following recent wildfires. New York Times
Pacific Gas and Electric faces damage claims estimated at $30 billion for wildfires started by its equipment. New York Times
Deutsche Bank lent or participated in loans to Mr. Trump and his companies totaling more than $2.5 billion. The failed loan request in 2016 is an untold chapter in Mr. Trump’s long and tortured relationship with the banking industry. New York Times
Heat and drought extremes are consistent with scientific consensus: More greenhouse gas emissions in the atmosphere bring a greater likelihood of abnormally high temperatures and make extreme weather more frequent and more intense. (New York Times)