Dick Durbin’s bodyslam of Jamie Dimon on the subject of debit interchange is, simply, a must-read. If Durbin ever had any dreams of a cushy sinecure on JP Morgan’s board, those have surely now been quashed forever — but being able to write a letter like this on official US Senate letterhead makes it oh so very worth it:
Anders Petterson of ArtTactic put together a presentation on the Warhol market for his talk at Artelligence yesterday. There are some astonishing numbers in it, none more so than the fact that Warhol paintings accounted for 17% of all contemporary-art auction sales in 2010. But there’s much more where that came from.
After the Financial Crisis Inquiry Commission fractured into bipartisan incommensurability, I had little hope for the Senate’s report into the financial collapse. But my initial impression is that it’s a great piece of work — almost incredibly so, given that it’s got bipartisan support.
The dean of tax reporters, David Cay Johnston, has a fantastic cover story in the Willamette Week (of all places and 40 other alt-weeklies), shining a bright light on just how unfair and unequal the US tax system is. The whole 3,000-word article is well worth reading in full, but here are some highlights:
I spent most of this morning at SecondMarket, having a long conversation with Adam Oliveri, the person in charge of their private company market. That’s the part of the company which gets the most attention: it’s where stock in companies like Twitter and Facebook change hands, for instance. I learned a huge amount while I was there, and have now changed my mind on whether Facebook is going to go public: I finally understand exactly why companies need to do an IPO once they have more than 500 shareholders.