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Posted Wednesday, September 30, 2009 - 4:08pm

James,

I appreciate your critique of Capitalism: A Love Story and am happy to publish it. Discussing the film around the office, we felt like your review would serve as a great launching pad for further conversation about this provocative but flawed movie.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

Readers Say It Doesn’t Matter If the MRI Bankrupts the Country

Posted Friday, September 25, 2009 - 2:22pm

Mark Gimein’s piece on MRIs, “The Machine That’s Bankrupting America” was not received well by TBM readers. “Wow. Thanks for misrepresenting the state of Americn healthcare,” milano87 writes before itemizing her clarifications on the piece and the healthcare system.

Pay at Goldman Sachs To Get Even Bigger


Posted Friday, September 25, 2009 - 1:31pm

You'll recall the howls of outrage earlier this year when onetime ward-of-the-state Goldman Sachs (GS) announced that it was setting aside $11.6 billion in compensation for the first half of the year. Surely, given that public outcry and given the bureaucratic gnashing of teeth going on now at the Pittsburgh G20, Goldman has learned its lesson, right?

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

Word of the Week

Posted Friday, September 25, 2009 - 9:04am

In his testimony before the members of the House Financial Services Committee on Wednesday, Treasury Secretary Timothy Geithner talked a lot about the new Consumer Financial Protection Agency. That’s the independent body that will be in charge of safeguarding consumers from misleading or abusive credit card, mortgage, and other loan practices. Geithner said that the agency won’t treat all financial firms as equals though. “The CFPA will allocate its oversight resources on the basis of risk to consumers,” he said.

  • Caitlin McDevitt is an editorial assistant at The Big Money.

Fix Wall Street! But ... How?


Posted Wednesday, September 23, 2009 - 3:41pm
A year after the demise of Lehman Bros., the effort to reform Wall Street is stalled. Why? Simple: Everybody wants to reform Wall Street in theory. But the reality is that the thing we really want to fixreduce the systemic risk to prevent the kind of domino effect of failing financial firms that we were on the very brink of last yearis the hardest reform to execute in practice.

Madoff's Inflated Losses: We Told You So


Posted Wednesday, September 23, 2009 - 12:04pm

An AP story today notes that the estimates of how much investor money Bernie Madoff lost have been wildly exaggerated. You'll recall that since Madoff's arrest last December, the figure of $50 billion was widely cited.

A Good Housekeeping Exchange


Posted Tuesday, September 22, 2009 - 3:07pm

On Friday, Sept. 11, The Big Money published a story by Paul Smalera titled “The Deal Behind the New Good Housekeeping Seal.” It argued that the magazine’s new green award is bogus. Good Housekeeping disputed elements of the article in a comment, and Editor in Chief Rosemary Ellis sent a more detailed critique that evening.

Word of the Week

Posted Friday, September 18, 2009 - 3:11pm

This week, the Securities and Exchange Commission moved forward with its attempt to shed light on the “dark corners” of the U.S. stock market. The commission proposed a ban on so-called “flash orders,” which “allow a select group of traders to see requests to buy and sell stocks and other securities a split second before the rest of the market,” the Washington Post reports.

  • Caitlin McDevitt is an editorial assistant at The Big Money.

The Anglicization of the Wall Street Journal


Posted Wednesday, September 16, 2009 - 2:33pm

Global ownership of media is not intrinsically bad, which is good considering it's inevitable these days. In general, Rupert Murdoch's purchase of the Wall Street Journal has had many salutary effects on the paper that far outweigh a few things I could do without.

That said, the audience for the Journal remains overwhelmingly American, and it serves no one's purpose to publish a paper that its audience can't understand. I have noticed a steady increase in the use of British phrases that aren't commonly, if ever, used by Americans.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

What's Your Question for Rosabeth Moss Kanter?


Posted Monday, September 14, 2009 - 9:31am

Later this month, The Big Money Editor James Ledbetter will conduct an exclusive one-on-one interview with Rosabeth Moss Kanter, Harvard Business School professor and author of the just-released book SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth and Social Good.

Meltdown Anniversary Watch, Part 5

Posted Monday, September 14, 2009 - 8:41am

Over the weekend, two remarkably similar articles argued that Lehman's collapse was a sacrificial lamb. That is, the fourth-largest investment bank in the United States had to go into bankruptcy in order to create a sense of crisis strong enough to save the rest.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

What's Your Question For Zipcar's Founder?


Posted Saturday, September 12, 2009 - 3:02pm

Later this month, The Big Money Editor James Ledbetter will conduct an exclusive one-on-one interview with Robin Chase, founder and former CEO of the pioneering car-sharing service Zipcar, and currently the CEO of the ride-sharing service GoLoco. We'll be talking about car-sharing, innovation and technology.

TBM Readers Respond: Save College As We Know It!

Posted Friday, September 11, 2009 - 2:13pm

Earlier this week, Zephyr Teachout argued that just like newspapers, universities will be dismembered by the Web. Reader responses ranged—some agreed while others remained quite skeptical. Here are a few choice highlights:

Word of the Week

Posted Friday, September 11, 2009 - 2:07pm

A front-page story in Sunday’s New York Times discussed what the paper describes as Wall Street’s next big money-making scheme: buying “life settlements.” What’s a life settlement? Basically, it’s the selling of your life insurance policy to some third party in exchange for cash. The buyer becomes your policy’s beneficiary and takes over payment of the premiums. Upon your death, whoever bought your policy no longer has to pay the premiums and gets to collect your death benefit.

  • Caitlin McDevitt is an editorial assistant at The Big Money.

Van Jones’ Unsurprising Fall From Grace

Posted Tuesday, September 8, 2009 - 12:05pm
Photo by Ethan Miller/Getty Images

It is not hard to imagine Van Jones signing a piece of paper he did not read. Back in April, I wrote a profile of Jones for TBM just as he was starting to work for the White House. When I visited, he was juggling two BlackBerrys and a briefing binder and kept mentioning how disorganized he was. When he wasn’t giving a speech, his thoughts were never in one place for more than 60 seconds. He is a jumble until he opens his mouth to speak the green-economy gospel.

Photo by Ethan Miller/Getty Images

Meltdown Anniversary Watch, Part 4

Posted Tuesday, September 8, 2009 - 9:22am

As we approach the anniversary of Lehman Brothers' bankruptcy, new meltdown memes are entering the media stream. Over the weekend, Richard Beales of Breakingviews.com assessed the state of the prime brokerage business (that is, helping hedge funds to manage and trade against their holdings) and concluded: Everything has changed.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

Word of the Week

Posted Friday, September 4, 2009 - 11:46am

According to Monday’s Wall Street Journal, “Through more than 50 deals known as ‘loss shares,’ the FDIC has agreed to absorb losses on the detritus of the financial crisis—from loans on two log cabins in the woods of northwestern Illinois to hundreds of millions of dollars in busted condominium loans in Florida.” OK, this sounds confusing. What’s a loss share and why are log cabins involved? 

  • Caitlin McDevitt is an editorial assistant at The Big Money.

Meltdown Anniversary Watch, Part 3

Posted Friday, September 4, 2009 - 10:01am

Floyd Norris’s New York Times column this morning is not exactly pegged to this month’s anniversary of the meltdown. Nonetheless, Norris offers up a meme we suspect will recur throughout this month’s coverage, namely: Ben Bernanke is a genius.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

TBM Now on Kindle


Posted Thursday, September 3, 2009 - 1:33pm

Part of modern publishing means embracing as many platforms as practical. Here at The Big Money, in our first year we've not made a huge push to optimize our site for mobile devices, but we are making progress.

How To Buy a Facebook Friend


Posted Thursday, September 3, 2009 - 8:58am

Facebook has rarely been the platform for propriety. And yet, when a barrier is crossed like, say, buying people, it shocks the senses. That’s where uSocial comes in.

“Friends: people say they can't be bought, though in this day and age it's simply not the case,” is the marketing battle cry of this upstart with a simple mission. They promise that their Facebook marketing service can net you friends “in packages up to 5,000.”

  • Amy Tennery is a proud former intern of The Big Money. She is currently an editorial assistant at The Real Deal and can be reached at at@therealdeal.com.

Meltdown Anniversary Watch, Part 2

Posted Tuesday, September 1, 2009 - 10:02am

In today's Wall Street Journal, Dennis Berman offers a variation on Joe Nocera's Meltdown Anniversary meme: Don't look there for the meaning of the meltdown, look here.

  • James Ledbetter is editor of The Big Money, and of The Great Depression: A Diary, published this month by Public Affairs.

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