Silicon Valley’s elite sits in a pink room

This morning The Daily Deal told me that Wallstrip has a little West Coast competition. I don’t know if I’d go that far. Jesse Draper, recent UCLA theater grad, cable TV actress, and, oh yeah, daughter of venture capitalist Tim Draper (see, for context: Hotmail, Skype, Baidu), is Valley Girl (original and timely), a big-smiled, [...]

Less junk mail: the upside of the credit crunch

Grisly news today from the Federal Reserve’s July survey of senior bank loan officers. Loan-writing standards are tighter across the board, but especially for prime mortgages (74% of banks reported tighter standards, compared to 62% in the April survey), and credit card loans (67% of banks reported tighter standards, compared to 32% in the April [...]

The usefulness of rent ratios

My colleague Jim Poniewozik’s epic post about why he didn’t write about the John Edwards affair sooner got me to thinking about a story I haven’t yet shepherded into print—the rent-ratio heat maps at Hotpads.com. Okay, not exactly equivalent, but I wanted an excuse to mention Jim’s amazing post, which was eye-opening even to someone [...]

The Curious Capitalist: Olympics edition

I couldn’t help but notice over the weekend that there are some people in China playing some games. But what, I found myself asking, will it all mean for GDP? Brad Humphreys, a professor of economics at the University of Alberta, who co-authors a blog about the economics of sports, sheds some light on that [...]

News of California and Beijing

I am about to leave on the Curious Capitalist family’s annual California vacation. Won’t be back in the office until August 25. I may do a couple posts from the road, or at least put up some pretty pictures, but basically this will be Barbara’s blog for the next couple of weeks. I told her [...]

Citigroup pays big for shoving risk under the rug

Here’s what fueled much or maybe most of Wall Street’s growth over the last few years: Investment banks (and by that I also mean the investment banking arms of giant banks like Citigroup and UBS) found ever more ways to sell gobs of risky securities while a) telling the buyers they weren’t risky, in many [...]

Car companies aren’t the only ones adjusting their leasing outlook

Thanks to the falling prices of used vehicles, especially trucks and SUVs, GM and Ford are scaling back their leasing programs, and Chrysler is getting out of the game altogether. This morning I had a chat with Sergio Stiberman, the CEO of LeaseTrader.com, and he had some interesting data from the secondary market. LeaseTrader.com is [...]

Are small-town newspapers thriving because they’re better, or because they happen to be located in small towns?

I’ve tried to make the case before that the horrible times afflicting the nation’s metropolitan daily newspapers have far more to do with the collapse of a monopoly distribution model than with the quality of reporting in those newspapers. But now Paul Davis, publisher of the weekly Tuskegee News in Alabama, is making me do [...]

Silber: William McAdoo 1, Hank Paulson 0

I did a bunch of interviews for my Hank Paulson article that didn’t make it into the piece. One of the most interesting was with William L. Silber, the Marcus Nadler Professor of Finance and Economics at NYU’s Stern School. Silber is the author of When Washington Shut Down Wall Street: The Great Financial Crisis [...]

Hank Paulson wants to live in a country where financial institutions are allowed to fail

On Monday, July 28, my TIME colleague Michael Duffy and I paid a visit to the Treasury building in Washington to talk to Treasury Secretary Hank Paulson. Parts of the interview made their way into my article in the current issue of the magazine. After the break, you can read some more parts. The interview [...]