Felix Salmon


Calvin Trillin’s banker-pay theory is right! — Baseline Scenario

Simon Singh wins right to appeal! Another good day for free speech — IOC

“For returning charisma and breezy confidence to the beleaguered dollar, it’s hard to find a better image than Jack Nicholson” — TBM

Awful investing advice of the day, distressed-mortgages edition

Michael Osinski has an interesting article on nymag.com about how he, a CMO-structurer-turned-oyster-farmer, is playing in the riskier end of the distressed-debt market.

Naked-shorting datapoint of the day, Carl Icahn edition

Nathan Vardi, to his credit, doesn’t use the term “naked shorting” in his story today about a dispute between Carl Icahn’s High River Limited Partnership and Goldman Sachs. But that’s what he’s talking about — and, interestingly, the securities in question aren’t stocks. They’re bank loans:

The Vulcan bank meld

Kevin Connor has found something rather interesting with respect to the Wells Fargo-Wachovia merger: Donald Rice, who was Wells Fargo’s chairman until 2007, sits on the board of a company called Vulcan Materials. Also on the Vulcan board are Donald James and John Baker, who sat on the Wachovia board.

Anti-CFPA lobbying effort of the day

Is there a risk that the new Consumer Financial Protection Agency will start cracking down on media companies? A couple of advertising industry associations seem to think so:

Felix Salmon egg-on-face datapoint of the day

So, that happened. Guess I was wrong about this. But if you’re never wrong, you’re never interesting, nicht wahr?

The problem with smart bankers

Calvin Trillin, in his own inimitable way, has now weighed in on the causes of the financial crisis. It’s great stuff:


BusinessWeek value goes from $1 billion in 2000 to less than $5 million nine years later — BW

Blithe Blankfein

Lloyd Blankfein’s op-ed in the FT today doesn’t break much in the way of new ground, but it’s still worth reading closely. That’s the only way you can notice where his logic falls apart: