Felix Salmon

The multimillionaire men of Lehman

By Ben Walsh
April 30, 2012

On Friday, the LA Times published the of pay for Lehman Brothers’ top 50 employees in 2007.  That’s employees as in managing directors and below: pay for “named corporate officers” like Dick Fuld was publicly disclosed. This is how much you make if you’re not running the company, but just working there and making lots of money.

Counterparties: The global economy’s Scarlet A

April 30, 2012

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Eli Broad’s conventional art

By Felix Salmon
April 30, 2012

166249456.JPGEli Broad’s new book comes out tomorrow, and the cover alone speaks volumes. The title is “The Art of Being Unreasonable: Lessons in Unconventional Thinking”. And the way that Broad has decided to illustrate how unreasonable and unconventional he is? He’s posing next to Jeff Koons’s Rabbit.

Microsoft enters the e-book wars

By Felix Salmon
April 30, 2012

You think markets are efficient? Check this out: Barnes & Noble stock opened 2012 at $14.75 per share and falling fast; by January 5, the opening price was just $9.50. At that price, the entire company was worth just $550 million, and there was a very real fear that the entire company could go to zero, following in the footsteps of Blockbuster and other real-world retailers selling content more easily bought online.

Two views of financial innovation

By Felix Salmon
April 29, 2012

The final hour of Frontline’s Money, Power and Wall Street documentary will air on Tuesday; I’ll be participating in an online chat about the program with producers Martin Smith and Marcela Gaviria on Thursday at 1pm ET. I watched a preview this weekend, while also reading the World Economic Forum’s 92-page report on “Rethinking Financial Innovation”.

Counterparties: Obama’s hypothetical middle-class tax hike

By Ben Walsh
April 27, 2012

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Is sovereign immunity hurting America?

By Felix Salmon
April 27, 2012

Back in November, Alison Frankel had a very sensible and clear-eyed analysis of the lawsuit which a Cayman-based hedge fund, Fir Tree, is bringing against, essentially, the government of Ireland. In short, Ireland has sovereign immunity, so, no dice. Sorry, better luck next time.

Can gold be used as a currency?

By Felix Salmon
April 27, 2012

It worked! Kinda. I took Matthew Bishop’s challenge, and tried to spend a gram of gold like I would any other currency. And, frankly, didn’t have a lot of luck — until I managed to find a small business where the owner just happened to be standing around. In the end, I got three lobster rolls (and free drinks, too) for one gram of gold. Which were very tasty — thank you Snack Box!

Counterparties: Occupy Wall Street’s Second Act

By Ben Walsh
April 26, 2012

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