Felix Salmon

Will other banks go the way of MF Global?

October 27, 2011

John Carney wonders whether MF Global might turn out to be simply the first of many banks to go bust in a European financial crisis.

Chart of the day, Euro bailout edition

October 27, 2011


This, ladies and gentlemen, is how the sausage gets made — it’s yesterday’s eurozone rescue plan, as presented by an unidentified adviser to one of the European Union governments involved in the negotiations.

How to blog, Dealbreaker edition

October 27, 2011

If you want a masterclass in old-school econoblogging, check out this fantastic post from Dealbreaker’s Matt Levine.

Europe’s half-baked deal

October 27, 2011

Here’s one upside to the fact that Europe finds it almost impossible to agree on anything these days: even a half-baked deal like the one we got last night managed to significantly exceed expectations, making it seem that it’s being ratified by market action today.


October 26, 2011

Merkel raised the specter of European war, won a key EU rescue fund Bundestag vote — Telegraph

Self-promoter of the day: Keith McCullough

October 26, 2011

Here’s the most illuminating part of the Steve Liesman/Keith McCullough twitterfight:

The NYT’s silly trademark spat

October 26, 2011

Here’s what I don’t get about the NYT’s silly nastygram targeting HuffPo’s new Parentlode blog. It ends like this:

Market inefficiency of the day, Irish bank edition

October 26, 2011


You won’t be surprised to hear that shareholders in Allied Irish Banks have not done very well for themselves in the past five years. It did go bust, after all, and had to be nationalized; the share-price chart is above. But recently, as part of the recapitalization of the bank, the number of shares outstanding rose dramatically. Here’s the announcement, which doesn’t quite spell things out:

I am the 99%

October 26, 2011


The latest CBO report on income trends says nothing particularly surprising, although it does underline quite emphatically what we already knew about the 99% and the 1%. In particular, the key message, both in charts and text, is all about the 1% and how they’ve torn away from the rest of the population in the past 30 years.