Steven Cohen, the billionaire who is widely reported to be the ultimate target of prosecutors investigating insider trading at his hedge fund, has to be either crazy-reckless or supremely confident of his innocence. Either way, the master-of-the-universe buying spree he went on last week must make him the ultimate nightmare for the savvy financial PR firm that represents him, Sard Verbinnen &Co.
Stories I’d like to see
1. Obama administration malingers on hospital bill collecting abuses:
Here’s a compelling story for any reporter who wants to shine light on a failure of basic competence – or maybe it’s backbone – by the Obama administration on an issue that affects millions of middle class and poor Americans and that was supposed to be the president’s number one priority.
1. Another threat to newspapers’ business models?
This article in the New York Times last Friday and this one in the National Journal pinpoint two important developments in the media business that could collide to pose yet another threat to the financial viability of journalism.
1. Quick questions for Paul Ryan:
1. Looking in on the old money:
This and other articles last week reporting that the Rothschilds and the Rockefellers are joining together to expand their wealth advisory and asset management enterprises reminds me of a story I’ve wanted to see for a long time: In an age when we’re entranced by the wealth of twentysomething dot-commers, someone should look at some of the old-name American fortunes and see how much wealth remains today for the dozens, or hundreds, of their descendants.
1. The Kennedys’ take on the Caro book:
Robert Caro’s stunning new volume on Lyndon Johnson has received enormous coverage, but one angle I haven’t seen is what the reaction to it is of John F. Kennedy family members and loyalists. Caro’s depiction of how LBJ was treated by JFK and his team (especially Robert Kennedy) during his vice-presidency and how he basically resuscitated the Kennedy administration’s domestic agenda – which seemed doomed in Congress had Kennedy lived, because of how JFK and his aides fumbled the ball on Capitol Hill – presents a pretty damning picture of the Age of Camelot. Are there any Kennedy people out there willing to argue otherwise?
1. The $5 billion moving bill:
Reports last week that the U.S. had agreed with Japan to transfer 9,000 of its 19,000 troops out of Okinawa stated matter-of-factly that the move will cost $8.6 billion – that’s billion, or $955,000 per service member. Even with Japan paying $3.1 billion of the bill, that leaves the U.S. with $5.5 billion of the tab.