Monthly Archives: June 2008

The Cultural Permeation of Books and Music

Posted on June 30, 2008 by Felix

Daniel Hall has "two beliefs about pop culture that initially sound incompatible": 1. There will never again be a musical act that attains the popularity and cultural permeation of the Beatles. 2. It is nigh inevitable that a book or … Continue reading →

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Extra Credit, Monday Edition

Posted on June 30, 2008 by Felix

Central bank independence under threat: A Free Exchange blog post with a byline! Here’s hoping for many more. Gentrification: Not Ousting the Poor? Barbara Kiviat reports on this paper. Mittal joins Goldman Sachs board Anheuser-Busch Rejects InBev Proposal as Financially … Continue reading →

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How Bear Died

Posted on June 30, 2008 by Felix

Bryan Burrough has a compulsively readable 10,000-word blow-by-blow account of the demise of Bear Stearns in August’s Vanity Fair. Go read it: it’s the best thing yet on what happened. And it does a good job of answering two of … Continue reading →

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Yes, Vikram Pandit Is a Robot

Posted on June 30, 2008 by Felix

Yesterday, going on the strength of a WSJ op-ed, I wondered whether Vikram Pandit was actually a robot. Turns out that yes, he is. Bess Levin has an email he’s sent out to every single Citi employee: You may have … Continue reading →

Posted in banking, leadership | 1 Comment

Counterfeiting Statistics Watch, CFO Edition

Posted on June 30, 2008 by Felix

Randy Myers has a 2200-word article on the economics of counterfeiting in CFO magazine, which displays none of the critical thinking for which the Economist Group is famous. Instead, it just regurgitates all the bullshit statistics which have been thoroughly … Continue reading →

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The Economics of Frequent-Flier Surcharges

Posted on June 30, 2008 by Felix

Call it the frequent flier arbitrage: rack up lots of miles when oil prices are low and flights are cheap. Wait a year or so for oil prices to skyrocket and fares to rise. Then cash in your miles, receiving … Continue reading →

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When Pundits Discover the Repo Market

Posted on June 30, 2008 by Felix

If you want to get a good idea of the disconnect between politics and the markets, try looking across the pond, to Will Hutton’s 1200-word jeremiad against hedge funds. Hutton is a highly respected political commentator, but he clearly knows … Continue reading →

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WTC: Even More Delayed Than You Feared

Posted on June 30, 2008 by Felix

Alex Frangos has the depressing news: the much-delayed fiasco that is the WTC reconstruction is going to be even more delayed than most of us had feared. The challenges center on the Port Authority’s planned transit hub and the memorial, … Continue reading →

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The Curious Case of Hernan Arbizu, Cont.

Posted on June 30, 2008 by Felix

I’ve now seen various complaints that JP Morgan filed against rogue private banker Hernan Arbizu in the Southern District of New York, which between them clear up a few of the many questions in this case. Firstly, the complaints say … Continue reading →

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Is Vikram Pandit a Robot?

Posted on June 29, 2008 by Felix

I’ll leave to others commentary on any substantive points which may or may not have been made in Vikram Pandit’s WSJ op-ed on Friday; I’m more interested in his use of language. Here’s his first and last paragraphs: If there … Continue reading →

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