Felix Salmon

Counterparties

In which Arrington fails to mention the main reason he sold to AOL (the money) — TechCrunch

Dodgy credit card of the day

While John Hempton was uncovering a dodgy Chinese stock on the New York Stock Exchange, Tim Chen of Nerdwallet was looking into a much smaller operation, Anacott Financial.

Beware municipal bonds

Meredith Whitney has a 600-page report warning of municipal bond defaults. I think she’s right — and I also think she makes a very smart distinction between municipal debt, as in the debt of towns and cities, and state-level debt.

The fuzziness of retirement math

Aviva has a huge new project up online on what it calls Europe’s pension gap: the problem that the continent’s pension systems are inadequate to the needs of an ageing population. Between them, Europe’s pensions systems need extra funding to the tune of a whopping €1.9 trillion a year, it concludes — a sum which is impossible to raise, and which is only growing.

How money flows to hedge funds

Why do American hedge funds make so much money? Macroeconomic Resilience reckons that most of it comes, ultimately, from the government:

The European crisis gets quietly worse

Edward Hugh has a must-read overview of the euro crisis as it stands right now: not nearly as panicked as when everybody was concentrated on Greece back in May, yet in many ways worse than that.

Counterparties

A sad day: The End of the Road for Xmarks — Xmarks

Me, discussing the future of housing prices — BNet

Bercovici to Forbes. Not a fan of this move — TBI

Koblin quitting NYO — VV

This would be so idiotic and short-sighted, on the part of magazine publishers, that it’s almost certainly true — Coatney

Don’t put MBAs in charge of loan servicing

Paul Jackson reckons that the idiotic way in which GMAC/Ally is handling its defaulted loans is partially a function of the thankless nature of the work:

More prosecutions of investment banks coming?

Has Gretchen Morgenson buried something explosive in her story today about the FCIC testimony of a mortgage-analysis executive in Sacramento? Here’s her 28th and 29th paragraphs: