Felix Salmon

The SEC comes round to private markets

Jean Eaglesham has a big piece of news today: yes, the SEC is looking into the private share dealings in Facebook. But not necessarily with any kind of enforcement in mind. Instead, it’s thinking about raising the 500-shareholder limit which marks the point at which companies need to start making public filings.

Counterparties

El-Erian predicts Eurozone debt restructurings “well before 2013″ — Bloomberg

Larry Gagosian, billionaire

On Wednesday, if all goes according to plan, I’ll be attending Marion Maneker’s first Artelligence conference, and interviewing art collector Adam Lindemann for a Reuters video after he and his wife have delivered their talk on “the truth and fiction of art as an asset class”. I’m also very much looking forward to the panel on art funds, which I hope includes one or two die-hard skeptics. (If it doesn’t, I’m willing to pinch-hit!)

Charts of the day, payrolls accuracy edition

Many thanks to Steven Guichard and Zubin Jelveh, who picked up my gauntlet and ran the numbers on whether payrolls numbers released at the beginning of the month are any less accurate than payrolls numbers which come out a bit later.

The carry-trade rewind

Remember the sharp and painful rally in the yen following the Japanese earthquake in March? I described the 4% move as a “monster,” adding that “Japan, after being hit first by an earthquake, then by a tsunami, and then by nuclear disaster, is now going to have to suffer the effects of a volatile and overvalued currency as well.”

Counterparties

Saletan on the lobbying power of NATO, a/k/a Big Popcorn — Slate

FakeAPStyleBook: The True Story — The Bureau Chiefs

Tasmania’s Museum of Old and New Art — Hyperallergic

Five Ways Banks Could Learn From Apple’s iPad — WSJ

1099 repeal finally passes, on the 7th attempt — Portfolio

Flying a kite for total disclosure on wine labels — Jancis Robinson

How does the payrolls report come out so quickly?

Grumpy Editor is grumpy — and today he’s grumpy about the monthly payrolls report.

Did Sokol violate Berkshire policies?

Did David Sokol and/or Charlie Munger violate the Berkshire Hathaway ethics policies which the WSJ has now posted online? The key bit is this:

Zoellick’s failure of nerve

When I talked to Chrystia Freeland on Monday about World Bank chief Bob Zoellick’s big speech on the Middle East and North Africa today, I said I was looking for two things: concrete promises to do specific things, on the one hand, and a recognition, on the other hand, that the World Bank was working for the struggling citizens of these countries rather than their entrenched elites. The revolutions in the region have shown that politics is inextricably bound up with economics, and that you can’t affect the latter without dealing with the former.