2014: The Year of Outrage
Slate – 17 hours ago
Following the news in 2014 is a bit like flying a kite in flat country during tornado season. Every so often, a whirlwind of outrage touches down, sowing destruction and chaos before disappearing into the sky. These conditions are hardly ...
@LaurenLaCapra: I’m outraged that a Lena Dunham outrage had to fall on my birthday. [link]
@mathewi: Sad but true: "Cultural gaps and chasms that previously we never crossed we now cross by default" [link]
@TheStalwart: Oh man. Hadn’t seen this RT @woodruffbets: "in order to prove that women aren’t heard, it suppressed their voices" [link]
@BCAppelbaum: RT @VeraMBergen: "Slate tracked what everyone was outraged about every day in 2014" This is pretty great [link] http://t.co…
@johngapper: This is terrible. Someone must resign. [link] via @slate
@SimoneFoxman: Clearly, I have not been outraged enough this year. Missed out on so many of these, thank goodness! [link]
@Noahpinion: RT @ObsoleteDogma: "I didn’t become a journalist to peddle indignation on Facebook. But it sells” [link]
@munilass: "Don’t let the mob manage your company" Pt 2 [link]
@TimOBrien: “@Slate: Everything you were angry about on social media this year. A lot of things![link] [link]”
@delong: .@mathewi I confess I had missed all this when it went down, but @andrewgoldman convinced me today he’s a douchebag… [link]
@ObsoleteDogma: "I didn’t become a journalist to peddle indignation on Facebook. But it sells” [link]
@MattZeitlin: this is pretty great [link]
@eisingerj: Who says nobody cares about anything anymore? The year in twitter outrage: [link]
@matt_levine: The Slate outrage package is so good, and so definitive, that maybe we can stop having internet outrage now? [link]
@davewiner: The year of outrage 2014: Everything you were angry about on social media this year. [link]
@morningmoneyben: Outrageous “@igorvolsky: You must read @slate’s feature tracking what everyone was outraged about every day in 2014: [link]”
@cate_long: "how outrage has taken over our lives" From righteous fury to faux indignation: everything we got mad about in 2014 [link]
@ClaraJeffery: [clap emoji x3 ] Jody Rosen @jodyrosen Bravura @slate package, The Year in Outrage. [link]
@moorehn: RT @kgittleson: This is really good: [link]
@Neil_Irwin: Really nice, introspective piece by @JHWeissmann about feeding the Internet’s perpetual outrage machine. [link]
The Greatest Tax Story Ever Told
Bloomberg Businessweek – 12 hours ago
How U.S. companies learned to relocate their official addresses overseas and avoid taxes—in one operetta
@danprimack: The invention of tax inversions [link]
@DividendMaster: The Greatest Tax Story Ever Told [link]
@foxjust: RT @matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@johngapper: RT @matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@maxabelson: The most operatic article about tax cheating you’ll ever read! @ZachMider is a genius [link]
@petereavis: Wall St lawyers mocking the IRS in song; it’s amazing stories like this that encapsulate the era of the 1%. [link]
@EpicureanDeal: “The tax code [should be] completely scrapped.” - Liberal tax lawyer who invented inversions: [link] via @matt_levine
@matt_levine: 1. This @zachmider story about the tax lawyer who invented inversions is amazing. [link]
@Chris_Whittall: The Greatest Tax Story Ever Told [link]
@cate_long: RT @KYWeise: I *promise* you won’t regret reading this: The Greatest Tax Story Ever Told by @zachmider [link] [link]…
@munilass: "Don’t bet against the imagination of tax lawyers" [link]
Bloomberg Businessweek 2014 Jealousy List
Bloomberg Businessweek – 7 hours ago
Bloomberg Businessweek’s writers, editors, and designers, picked their 44 favorite pieces of journalism from other news outlets for our Second Annual Jealousy List.
@tcarmody: RT @mattdpearce: Love this: Businessweek reporters pick the 2014 stories they wish they had written. [link]
@mccarthyryanj: Love this RT @kurtsoller: The second annual @BW Jealousy List. Now with awesome graphics. [link]
@BCAppelbaum: Businessweek: "The 44 Best Stories We Didn’t Write.” [link]
@MattZeitlin: RT @Nataliekitro: .@jbsgreenberg and @RachelAbramsNY i’m jelly [link]
@lizzieohreally: RT @williamalden: The guy who put The Awl’s weather reviews on this list deserves a bonus [link]
@eisingerj: Our Red Cross piece picked by @jtozz in @bw’s Jealousy List. Nice to be included. [link]
@UpshotNYT: .@BW’s Jealousy List of stories they wish they had includes The Upshot’s migration project: [link] [link]
Deflation Warning Sounds as 2-Year Break-Even Rates Go Negative
Bloomberg – 5 hours ago
Even with the Federal Reserve reminding investors that policy makers remain on course to raise interest rates next year, one corner of the bond market is warning of the risk of deflation.
Business Insider: The Word ’Disinflation’ Is Booming
@LemaSabachthani: deflation warning sounds as 2-year break-even rates go negative [link]
@ObsoleteDogma: Deflation? Or are TIPS just terribly illiquid pieces of… ? The 2-year breakeven is now negative. [link]
@pdacosta: This is "a world with reduced growth expectations and reduced inflation expectations, and we’re not immune to that." [link]
@delong: 2 Year breakevens negative [link]
’Instagram Rapture’ Claims Millions Of Celebrity Instagram Followers
Business Insider – 3 hours ago
Rapper Ma$e lost so many followers he decided to completely delete his account.
@volatilitysmile: RT @DasanRedux: I love this. Idiots buying Twitter followers. [link]
@MikeIsaac: buying followers on social networks = saddest thing ever[link]
@DasanRedux: I love this. Idiots buying Twitter followers. [link]
@AntDeRosa: RT @BenDWalsh: “Ma$e lost so many Instagram followers he decided to delete his account entirely” [link]
Luxembourg abandons attempt to keep tax list secret
Financial Times – 1 hour ago
Luxembourg has agreed to hand over a list of the hundreds of tax deals signed with some of the world’s largest businesses after initially promising to take the European Commission to court in a bid to keep them secret. Prime Minister Xavier...
Uber Strikes Deal With Portland to Suspend Service for Three Months
Wall Street Journal – 1 hour ago
Uber reached an agreement with Portland to suspend operations in the city for three months while regulators work to revise rules around taxis that currently prohibit ridesharing apps.
@MikeIsaac: RT @dmac1: New on @WSJD: Uber Strikes Deal With Portland [link] (Updating soon w/ my right-place-right-time interview with …
@BuzzFeedBen: RT @dmac1: New on @WSJD: Uber Strikes Deal With Portland [link] (Updating soon w/ my right-place-right-time interview with …
@Techmeme: Uber Strikes Deal With Portland to Suspend Service for Three Months (@dmac1) [link] [link]
The Blacklist That Rules Wall Street’s Loan Market
Bloomberg – 12 hours ago
Unlike any other market in the U.S., the blacklist rules in leveraged loans. No regulator polices trading in the $800 billion market. Here, borrowers -- and the investors who control them -- choose who gets into the club. It would be as if Apple Inc. (AAPL) got to decide who could buy its stock.
@LaurenLaCapra: There’s a Blacklist in the $800 Billion U.S. Loan Market and It’s Not Illegal [link]
Business Insider: Wall Streeters Are Using Blacklists To Bully One Another Out Of Deals
@EpicureanDeal: Leveraged loan blacklists: [link]. It’s almost as if, say, Facebook prevented investors from buying a class of stock. Wait…
@Jeffrey_Cane: RT @WiltermuthJoy: Blacklists a la: [link] are in commercial real estate 2, @Jeffrey_Cane, like w’ loans on the Chrysler Bl…
@volatilitysmile: RT @business: Yup, you can be blacklisted from investing in U.S. loans, and it’s totally legal [link]
@munilass: Blacklisting takes hold in leveraged loan markets [link] This is fascinating, via @BenEisen
Paramount Cancels ’Team America’ Showings, Theaters Say
deadline.com – 5 hours ago
Forget those plans by Alamo Drafthouse Cinema and other theaters to run Team America: World Police in place of The Interview. The Austin-based chain says that Paramount has now decided not to offer...
@carlquintanilla: I KNEW the @SouthPark dudes would feel the wrath of #SonyHack, eventually. (h/t @MikeIsaac) [link]
@ClaraJeffery: RT @stevesilberman: Oh jeez: "Team America" showings now cancelled too. Just stay in your homes and cower. [link]
@SconsetCapital: YES!!!THE TERRORISTS WIN AGAIN!!!RT @DRUDGE_REPORT: REPORT: PARAMOUNT Bans Showing ’TEAM AMERICA’... [link]
@MikeIsaac: who ever thought this would be a headline[link]
Bankers See $1 Trillion of Investments Stranded in the Oil Fields
Bloomberg – 16 hours ago
In a stunning analysis this week, Goldman Sachs found almost $1 trillion in future project investment at risk from low oil prices. There are zombies in the oil fields.
@JimPethokoukis: RT @TheStalwart: Very interesting technical annotation on this chart from @tsrandall [link] [link]
@SonyKapoor: RT @ReDefineEurope: Very funny! @Bloomberg: Bankers see $1 trillion investments stranded in #oil fields [link] @tsrandall h…
@bySamRo: Bloomberg targeting a very specific demo with the skitching [link] [link]
@Convertbond: ZIRP for 6 years =Bankers See $1 Trillion of Investments Stranded in the Oil Fields [link]
@JohnLothian: Bankers See $1 Trillion of Investments Stranded in the Oil Fields - Bloomberg [link]
@Dvolatility: RT @mdc: Bankers see $1 trillion of OIL ZOMBIE(investment)S stranded in the fields: [link] @tsrandall
@pdacosta: Goldman Sachs estimates almost $1 trillion in investments in future #oil projects at risk [link]
The Conventional Wisdom On Oil Is Always Wrong
fivethirtyeight.com – 13 hours ago
That narrative isn’t necessarily wrong. But in my years watching the transformation up close, I took away a lesson: When it comes to energy, and especially shale, the conventional wisdom is almost always wrong.
@jasonzweigwsj: Why every prediction about anything involving oil has been wrong, by @bencasselman [link] #WSJ
reddit/Economics: The Conventional Wisdom On Oil Is Always Wrong
@petercoy: The Conventional Wisdom On Oil Is Always Wrong [link]
@NKingofDC: RT @bencasselman: .@NKingofDC’s 2008 oil-price contest remains one of my favorite stories. Timing was incredible.[link]
@munilass: The Conventional Wisdom on Oil is Always Wrong [link] via @pcdunham
A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia.
New York Times – 1 day ago
Sweden, Denmark and Norway may have a lesson for the United States. Their welfare benefits make it easier for people to work.
@mims: US welfare is overwhelmingly dispensed through tax credits. Turns out that might be a terrible idea. [link]
@Frances_Coppola: RT @MFordFuture: More People Choose to Work in Countries With High Taxes and a Generous Safety Net @Neil_Irwin [link] http:…
reddit/Economics: A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia. - NYTimes.com
@Noahpinion: RT @erikbryn: Time to re-think conventional wisdom. Denmark: higher benefits & taxes + more people working[link] http://t.…
@delong: RT @MFordFuture: More People Choose to Work in Countries With High Taxes and a Generous Safety Net @Neil_Irwin [link] http:…
@lucymarcus: A Big Safety Net and Strong Job Market Can Coexist. Just Ask Scandinavia. [link]
@SconsetCapital: Comparing the US to homogenous countries like Sweden and Norway is silly.RT @UpshotNYT: [link] [link]
MetLife Gets Risk Tag From U.S. Panel, Weighs Options
Bloomberg – 1 hour ago
MetLife Inc., the biggest U.S. life insurer by assets, was labeled a systemically important financial institution by a council of regulators and said it will consider whether to sue the government over the decision.
Elizabeth Warren Pins Wall Street Ills on Citigroup
Wall Street Journal – 5 hours ago
Citigroup, Inc. notched a victory last week when Congress approved a long-sought change to a rule in the Dodd-Frank overhaul of financial regulations. But instead of celebrating, the firm found itself under attack from a powerful critic: Se...
@LaurenLaCapra: RT @pdacosta: Too Big, and Powerful, to Fail: @SenWarren Pins Wall Street Ills on Citigroup[link]
@IvanTheK: Wrong. Citi illustrates what’s wrong with Citi.Sen.Warren says Citigroup illustrates what’s wrong with Wall St [link]
@moorehn: RT @ryanjtracy: Before she took on Citi this week, @Senwarren had "strong words" with Jamie Dimon. [link]
RadioShack Is Running on Credit Derivatives
Bloomberg View – 4 hours ago
Codere was a lovely trade, RadioShack is a lovely trade, but the world still awaits the Hegelian synthesis of the two.
@Dvolatility: RadioShack Is Running on Credit Derivatives [link] via @BV $RSH
@mdc: .@matt_levine explores morality, incentives, & highlights "pleasing symmetry" between RadioShack & Codere situations: [link]
@KidDynamiteBlog: Radio Shack is Running on Credit Derivatives - @matt_levine [link] $RSH
Fed Gives Banks More Time to Sell Private-Equity, Hedge-Fund Stakes
Wall Street Journal – 1 hour ago
The Federal Reserve said it would give banks two more years to sell private-equity and hedge-fund stakes covered by the Volcker rule.
More bad news for Putin: Russia’s banks need to be bailed out now
Washington Post – 1 hour ago
Russia’s economic crisis has turned into a currency crisis that’s morphed into a financial crisis.
Amazon Confirms Rollout of One-Hour Delivery Service
Wall Street Journal – 13 hours ago
Amazon.com Inc. on Thursday launched a new service in Manhattan to deliver daily essentials such as shampoo, paper towels and toys within an hour.
@jennablan: [link] launches ‘Superfast’ delivery in New York City [link] via @WSJ
@MichaelKitces: Wow. RT @WSJ: Amazon launches ’superfast’ service in NYC. 2-hr delivery free to Prime members, 1-hr delivery $7.99 [link]
@andrewtghill: Evidence of "impatience premium" (see [link]) MT @WSJ: AMZN launches 1-hr NYC service for essentials [link]
@MikeIsaac: omg i want to use this[link]
@newsycombinator: Amazon Confirms Rollout of One-Hour Delivery Service [link]
@BobBrinker: RT @oscartrelles: Amazon unveils 1-hour delivery service in Manhattan, 2-hour free deliveries for Prime subscribers [link]
Buy Anything With The Word ‘Cuba’ In It
Dealbreaker – 7 hours ago
A closed-end fund designed to profit from the end of the U.S.’s 53-year-long hissy-fit in Cuba’s direction—one with the enviable ticket symbol “CUBA,” no less—seems like a reasonable play following...
@JacobWolinsky: Buy Anything With The Word Cuba In It via @dealbreaker [link]
@EconBrothers: Buy Anything With The Word ‘Cuba’ In It - A closed-end fund designed to profit from the end of the U.S.’s 53-year-... [link]
@SimoneFoxman: RT @JacobWolinsky: Buy Anything With The Word Cuba In It via @dealbreaker [link]
Why Would the Saudis Deliberately Crash the Oil Markets?
Foreign Policy – 3 hours ago
On January 2, 1977, the Shah of Iran made a painful admission about his country’s economy. “We’re broke,” he confided bluntly to his closest aide,…
RadioShack Kept Alive by $25 Billion of Swaps Side Bets
Bloomberg – 21 hours ago
RadioShack Corp. (RSH) is finding an unlikely ally in its efforts to stay out of bankruptcy: credit derivatives traders who amassed more than $25 billion of trades speculating how much longer it can keep paying its bills.
@BarbarianCap: RadioShack Kept Alive by $25 Billion of Swaps Side Bets "28 times its debt, more than any other U.S. company [link]
@KidDynamiteBlog: this is a beautiful tale of $RSH CDS - how protection sellers funded the company: [link] via @matt_levine
@Dvolatility: RadioShack Kept Alive by $25 Billion of Swaps Side Bets [link] via @business
@IvanTheK: If RadioShack avoids bankruptcy thanks to the size of CDS protection buyers, that would be awesome (but unlikely). [link]
@AmyResnick: RadioShack Kept Alive by $25 Billion of CDS[link]
@Jeffrey_Cane: OMG: "The amount of credit-default swaps tied to RadioShack is 28 times its debt, more than any other U.S. company." [link]
@pmarca: "Amount of credit-default swaps tied to RadioShack is 28 times its debt..." Driving hedge funds to keep it alive! [link]