Felix Salmon

Those evil synthetic CDOs

Yves Smith has another long broadside today against Goldman Sachs, Morgan Stanley, and any other bank which made money on synthetic CDOs. She links approvingly to yesterday’s NYT editorial, which concludes:

The Daily Curator

Mick Weinstein, the editor-in-chief of Seeking Alpha, has unveiled his latest side project, the Daily Curator. And I love it. Mick says it’s a “pre-pre beta”, but I hope he doesn’t change too much besides the range and depth of content, because the gorgeous simplicity of the site makes it a joy to use.

Right about earnings? Win a wiretap!

Prosecutors of white-collar crime are a bit like investigative journalists, trying to connect dots. But reading Susan Pulliam’s account of how the Galleon case was put together, I’m struck by how unprepossessing some of the most crucial dots were.

Counterparties

I’m enjoying Brad’s new book. But arguably he’s even better as a photographer — DeLong

The changing landscape of the TV business

Andrew Vanacore has a long and sometimes confusing overview of the state of play in the television industry, which concentrates on the possibility that one or more networks might convert into cable channels sooner or later. But there seem to be lacunae in the story — not least the large number of cable channels which pay for the privilege of being featured in the cable-TV lineup, rather than being paid by the cable companies.

Don’t trust those servicers

Michael Powell has real-world examples of why it’s really just better to walk away than it is to try to deal with evil and/or incompetent mortgage servicers:

Changing banks

Should people move their money from the big four commercial banks to smaller community banks? Arianna Huffington is making a big push, but I’ll believe it when I see it: moving banks is hard, and people are lazy.

Inside the legislative sausage factory, banking committee edition

Ryan Grim and Arthur Delaney have the must-read story of the day, on the politics of the House financial services committee. It’s long — 6,500 words, spread over three pages — and it took five journalists in all to piece it all together: don’t say that HuffPo doesn’t do original reporting!

Is 3G wireless doomed in cities?

Is AT&T’s inability to provide decent wireless broadband in tech-savvy cities like New York and San Francisco a simple matter of physics? Phorgy says yes: