Vanity Fair has a habit of posting stub abstracts of their bigger articles. This isn’t exclusive to VF, Rolling Stone does it, too, but it is an annoying way of using the web. Barry Ritholtz takes them to task for this, and then publishes the PDF that they sent him to drum up publicity. If you can’t wait until next week to read Michael Lewis’ take down of Joe C and AIG that explores among other things:
How A.I.G. F.P. became the first stop for Wall Street banks looking to insure the massive amounts of debt they were buying, packaging, and selling: â€œWe were doing every single [credit-default swap] deal with every single Wall Street firm, except Citigroup,â€ says one A.I.G. F.P. trader. â€œCitigroup decided it liked the risk and kept it on their books. We took all the rest,â€
click above for the full article.
In other Michael Lewis news, you probably knew that the Siderbergh/Pitt vehicle, ‘Moneyball’, got axed last week. Here’s an insider’s version of events that doesn’t make anyone at Sony look very good. Sandra Bullock’s ‘The Blindside’ continues to truck, and still, for some reason, no one has made any moves to make ‘Liar’s Poker’.