Felix Salmon

Why sell-side analysts are wrong

By Felix Salmon
June 21, 2010

Aaron Pressman has a good report on the sell-side failure to perceive the risks surrounding BP in the wake of the Deepwater Horizon catastrophe. Why was Wall Street so very bullish on the stock even as it was being pummeled in the markets?

How to avoid a fiscal panic

By Felix Salmon
June 21, 2010

Edmund Andrews adjudicates dueling op-eds by Paul Krugman and Alan Greenspan on the subject of fiscal policy, and although he purports to come down somewhere in the middle, by the time he’s finished his prescriptions end up sounding very much like those of Krugman.

Counterparties

By Felix Salmon
June 21, 2010

Renminbi ruminations: a great roundup — Alphaville

“In BP, we see a company that undertook a phony transformation and now lies in ruin.” — NYMag

Why companies will stick with Twitter

By Felix Salmon
June 21, 2010

I was offline for much of Friday for various reasons, with the World Cup not even being the main one. Instead, I was across the street from Reuters, at the Nasdaq, sitting on one panel and giving a keynote speech to a group of financial PR professionals interested in social media in general, and Twitter in particular.

Are foreclosures racist?

By Felix Salmon
June 18, 2010

If you’re a high-income Latino with a mortgage, you’re almost twice as likely to be facing foreclosure than a high-income non-Hispanic white person. And in general, the foreclosure crisis is hitting blacks and Latinos much harder than it is whites, according to a startling new report from the Center for Responsible Lending.

Counterparties

By Felix Salmon
June 18, 2010

German ETFs enable investors to stop paying taxes on dividends — Index Universe

When states don’t pay their debts

By Felix Salmon
June 17, 2010

Greg Ip reports on how Illinois is going to have to start making unnecessary unemployment payments just because it’s refusing to pay its debts:

English masters of the dead bat

By Felix Salmon
June 17, 2010

John Gapper isn’t letting the World Cup get to him: he knows that when it comes to Tony Hayward’s Congressional testimony today, the sports metaphor of choice has to come from cricket rather than football. “Tony Hayward plays a dead bat to Congress” is his headline, and he’s right: Hayward isn’t interested in winning anything, here, he’s just interested in letting the hearing time out by being infuriatingly passive and unhelpful. He’s simply letting the attacks come, refusing to show any spark of humanity or willingness to engage.

Interchange and free checking

By Felix Salmon
June 17, 2010

Why do most people hate their bank? Because their relationship is based on the lie of “free checking”, and a relationship based on a lie is always going to be a dysfunctional relationship. Checking is never free, but in recent years banks have been able to conjure the illusion of free through a system of regressive cross-subsidies, where the poor pay massive overdraft fees and thereby allow the rich to pay nothing.