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10.26.12

The Week’s Best Business and Finance Longreads: Business Beast’s Picks for October 26, 2012

From the Randian CEO of the company that got the biggest government bailout of all time to the secret fortune of the Chinese premier’s family, The Daily Beast picks the best business and finance journalism from around the Web this week.

The Randian and the Bailout
Jessica Pressler, New York
 
 
Bob Benmosche has a palatial Croatian villa and is stricken with cancer. He’s also a libertarian heading up AIG, the company that got more than $180 billion in bailout assistance.  
 
A Tale of Money, Sex and Power: The Ellen Pao and Buddy Fletcher Affair
Adam Lashinsky and Katie Benner, Fortune 
 
Ellen Pao went to war against the storied Silicon Valley venture-capital firm where she claims she was sexually harassed, Alphonse “Buddy” Fletcher sued his apartment building, the legendary Dakota, for racial discrimination. They’re married. One of his investment funds is bankrupt.

Why Freddie Mac Resisted Refis
Jesse Eisinger, ProPublica 
 
How one of the government-sponsored housing giants delayed and obstructed efforts to help homeowners refinance—in part because some insiders feared mass refinancing might improve the economy.

Tim Pawlenty’s About-Face on Wall Street
Paul M. Barrett, Bloomberg Businessweek 
 
When he was running for president, the former Minnesota governor was a right-wing, populist bank critic. Now he’s the industry’s lobbyist.

Billions in Hidden Riches for Family of Chinese Leader
David Barboza, New York Times 
 
How the family of China’s premier managed to accumulate $2.7 billion.

May the Odds Be Ever in Your Favor
Chadwick Matlin, Tomorrow Magazine

Have we really gotten any better at predicting the future? Can we?