Felix Salmon

Counterparties: Happy Tax Day! You’re not done paying

April 17, 2012

It’s Tax Day. You’ve just signed, sealed and mailed your least favorite civic duty. Now get ready to pay more.

Bruno Iksil and the CHIPS trade

By Felix Salmon
April 17, 2012

John Carney has been plugging away at what on earth Bruno Iskil, the so-called London Whale, might be doing with his reported $100 billion bet on an obscure off-the-run CDX index. Carney’s idea is that this is all part of some kind of inflation-protection trade, but as Ben Walsh says, if you want to protect against inflation, you just buy TIPS. Corporate credit default swaps aren’t going to help you out much on that front.

Why Richard Koo’s idea won’t save the Eurozone

By Felix Salmon
April 16, 2012

A lot of people were looking forward to Richard Koo deliver his paper at INET last week; it comes with associated slides, here. Koo is the intellectual father of the idea of the balance-sheet recession — an idea which was born in Japan, has increasingly been adopted in the US and the UK, and which is now gaining traction in the Eurozone.

Counterparties: The bailout according to Treasury

April 16, 2012

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com

The immigration-averse USA

By Felix Salmon
April 16, 2012

Ann Lee’s op-ed on the EB-5 visa program, which is designed to give visas to people who invest at least $500,000 in the country and create at least ten jobs, is worth reading in conjunction with the WSJ excerpt from Kip Hawley’s new book, explaining why and how TSA airport security is so broken.

Do Jubilee shares make any sense?

By Felix Salmon
April 16, 2012

One of the more intriguing concepts to come out of the INET conference was Steve Keen’s idea for what he calls “Jubilee shares”. It’s not exactly new — he’s been writing about the concept since October 2010 — but he refined the concept for INET, and it has a bizarre kernel of genius to it, for all its flaws.

Counterparties – Jamie Dimon and JPMorgan’s risk question

By Ben Walsh
April 13, 2012

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com

Is the World Bank board sure what Jim Kim thinks?

By Felix Salmon
April 13, 2012

William Easterly is uncharacteristically credulous today. He spoke to one of those Senior Administration Officials on Wednesday, and the Official gave Easterly the official explanation for why Jim Yong Kim has failed to RSVP for the CGD/Washington Post forum or for any other public appearance.

Google’s evil stock split

By Felix Salmon
April 13, 2012

Count me in with Robert Cyran: there’s something a little evil about the way that Google is splitting its stock, and in so doing creating a whole new class of non-voting shares.