Felix Salmon

Counterparties: Cyprus births controls

March 27, 2013

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Paywalls rise

March 27, 2013

It’s paywall season right now: the Washington Post, the San Francisco Chronicle, the Telegraph, the Sun — all have recently announced plans to erect paywalls in an attempt to extract subscription revenues from their most loyal online readers. And other paywalls are being tweaked: the NYT paywall is getting less porous, while Andrew Sullivan’s is being tightened up, with a new $2/month option to complement the existing $20/year price point.

Counterparties: Kicking the kickback habit

March 26, 2013

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Counterparties: Dude, you’re getting a bidding war

March 25, 2013

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The Dijsselbloem Principle

March 25, 2013

If a gaffe is what happens when a politician accidentally tells the truth, what’s the word for when a politician deliberately tells the truth? Dutch finance minister Jeroen Dijsselbloem, the current head of the Eurogroup, held a formal, on-the-record joint interview with Reuters and the FT today, saying that the messy and chaotic Cyprus solution is a model for future bailouts.

Cyprus: It’s not over yet

March 25, 2013

This was not a good weekend for Russian billionaires. First, Boris Berezovsky was found dead at his English country estate. Now, all the uninsured depositors (read: Russian plutocrats) at Cyprus’s two largest banks are going to be hit much, much harder than they feared they might be when the Cyprus crisis first erupted last week.

America’s low-lying educational fruit

March 24, 2013

I can’t remember ever thinking that I might not go to college. Both of my parents have graduate-level degrees, as does my sister; I’m the least-educated member of my family. Which is why I’m shocked but not surprised by the amazing series of charts that Evan Soltas has put together about the way in which educational attainment is inherited.

Counterparties: The broken brokerage industry

March 22, 2013

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Cyprus: What are the Russians playing at?

March 22, 2013

Paul Murphy, watching Cypriot finance Minister Michael Sarris returning empty-handed from Moscow, says that “Medvedev and co could not have played a worse hand during this crisis — and it’s not immediately clear why”. His point is that the most likely outcome right now — he calls it “popping the red pill” — is that big depositors at Laiki Bank (read: rich Russians) are likely to lose some 40% of their money. Since that will make Russia very unhappy, why is Russia doing nothing to prevent it?