Felix Salmon

Counterparties: How to fix libor

September 28, 2012

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Art-loan datapoints of the day, Peter Brant edition

By Felix Salmon
September 28, 2012

Miles Weiss and Katya Kazakina, of Bloomberg, have a fascinating article today about the art-finance activities of Peter Brant, who — like many big-time art collectors — is using much of his collection as collateral in order to borrow money. The Bloomberg report is pretty straight-down-the-line, however, which makes me suspect that they missed a rather more interesting story.

Counterparties: The state of the economy, restated

By Ben Walsh
September 27, 2012

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The caprice of publishers

By Felix Salmon
September 27, 2012

TSG and Edward Champion have found a flurry of lawsuits brought by Penguin various authors who never delivered the books they promised. The lawsuits are asking for the authors’ advances back — but they’re also asking for interest, at pretty high and arbitrary rates.

Sheila Bair against the world

By Felix Salmon
September 27, 2012

American Banker’s Donna Borak has found the juiciest bits of Sheila Bair’s book yet — and it turns out to be buried in, of all places, the chapter on Basel III. Bair’s backstory to the September 2010 Basel III announcement is full of insider gossip and score-settling, and from reading Borak’s account I’d definitely class Bair as a dubiously reliable narrator. But her story is fascinating, all the same.

Counterparties: The never-ending story of the Euro crisis

September 26, 2012

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The Poway deal gets fishier

By Felix Salmon
September 26, 2012

Remember Poway, and the exorbitant interest costs it was paying on its debt? At first glance, those costs were so huge because of the way the deal was structured: there were no interest or principal payments before 2033, and the final payments weren’t due until 2051.

Chart of the day: The long decline of labor

By Felix Salmon
September 26, 2012

2012-13-1w.gif

This chart comes from Margaret Jacobson and Filippo Occhino at the Cleveland Fed, and it’s reasonably terrifying — yet another one of those charts where the trend is down and to the right, and where it’s only gotten worse since the end of the recession.

Counterparties: Is QE3 working?

By Ben Walsh
September 25, 2012

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