Felix Salmon

How insider trading becomes endemic

This week’s New Yorker has George Packer’s massive, 11,000-word article on Raj Rajaratnam, his prosecutor Preet Bharara, and financial prosecutions. Highly recommended. But there was one line in particular which jumped out at me:


Google’s websites had more than a billion unique visitors in May — WSJ

Why is wine getting hotter?

I’ve long suspected that this is true, but now there’s a formal academic paper proving it:

Nocera vs Sorkin, bank capital edition

One of the consequences of Joe Nocera’s move to the NYT op-ed page is that his column now appears on the same day as that of Andrew Ross Sorkin. Which can sometimes result in a great lesson on the difference between how Wall Street is viewed from the outside and how it is viewed from the inside.


Foursquare reaches 10,000,000 members — 4sq

$250/mo for bike parking on E 12th St — Twitpic

Club Penguin Down After Disney Fails To Renew Domain Name — Mashable

Something still doesn’t smell right, here, on the Skype firings — Techcrunch

Groupon’s idea of going quiet

If you want a great example of the kind of mean things that people are saying about Groupon in the run-up to its IPO, you could do a lot worse than Rocky Agrawal’s TechCrunch essay entitled “Why Groupon Is Poised For Collapse”. It’s a great example of overstretch and dubious logic, with a couple of moments of brilliance and genuine insight thrown in at the same time. Groupon, of course, being in its quiet period, can’t react. Except, it just can’t help itself, and has put up a whiny post, supposedly authored by the company cat, about how unfair the whole situation is.

Charts of the day: The rise in structural unemployment

Is this jobless recovery a peculiarly American phenomenon? This chart, from a new paper seeking to unentangle cyclical from structural unemployment, would suggest that it possibly is:

When Uncle Sam forecloses

You probably won’t be surprised to hear that Wells Fargo is sparring with the government on the subject of foreclosures. But you might be surprised to see who’s on which side:

Could the EFSF engineer a Greek restructuring?

We’re now close enough to a Greek default that the likes of Daniel Gros are coming up with schemes for how to avoid such a thing: