Felix Salmon

Citi finally sells Phibro

It’s been obvious that Citi had to sell Phibro since April, so the first reaction to today’s news is “what took you so long”.

Counterparties

What’s the opposite of adverse? Anyway, that’s the kind of selection that Kaiser Permanente is up to — MR

Let’s cut Ken Lewis’s payout

Millions of Americans know that Bank of America doesn’t care about numbers in the hundreds or thousands of dollars. It seems the government is in a similar situation:

The men with Geithner’s ear

The AP tallies Tim Geithner’s phone calls:

In the first seven months of Geithner’s tenure, his calendars reflect at least 80 contacts with Blankfein, Dimon, Citigroup Chairman Richard Parsons or Citigroup CEO Vikram Pandit…

How much is Twitter worth to high-frequency traders?

Kara Swisher says that Twitter might start selling access to its “firehose” — the full stream of all public tweets from its tens of millions of users — to Google and Microsoft. Such companies, she says, might be willing to pay “several million dollars” for such a product.

Steve Tuttle, economic prophet

What would you consider a reasonable cost of borrowing $20? On an annualized basis, my guess is you’d say something between 5% and 100%, or $1 and $20. Which means that you’re not Steve Tuttle:

The credit-card burden

Yesterday’s news about the drop in consumer credit made sense to me: if people are saving more, that means they’re likely to be paying down their debts. But one thing jumped out at me in the official statistical release: it had figures going back to 2004 for credit-card interest rates, and the latest numbers are the highest of the lot.

The FT’s very peculiar news judgment

There are two big, above-the-fold stories on the front page of today’s FT. One is the fact that, yes, Santander’s IPO of its Brazilian operations went according to schedule. And the other is headlined “Obama under fire over falling dollar”.

Counterparties

This article on the rise of debt cards really should have mentioned overdraft fees — WaPo