01.13.13

The Week’s Best Business Longreads: Business Beast’s Picks for Jan. 12, 2013

The man who thought of a $1 trillion coin and the one super-popular tablet that Apple isn’t buying. The Daily Beast brings you the best in business and finance journalism for the week of Jan. 12.

“Hillary Clinton’s Business Legacy at the State Department”
Elizabeth Dwoskin, Bloomberg Businessweek

 
Hillary Clinton wasn’t just America’s top diplomat. She was a great saleswoman for American business.

“From High Energy Clubs to Dashed Dreams: Herbalife Tales”
Herb Greenberg, CNBC

 
Herbalife is in the news because of a clash between two hedge-fund titans. But to the army of low-income dreamers that make its distribution base, Herbalife is a chance for a higher income that rarely pans out.

“A Bold Dissenter at the Fed, Hoping His Doubts Are Wrong”
Binyamin Appelbaum, The New York Times

 
Jeffrey Lacker has been an unceasing—and lonely—critic of the Federal Reserve’s efforts to stimulate the economy. What motivates this outsider in the most powerful club of economic-policy makers in the country?

“Meet the Genius Behind the Trillion-Dollar Coin and the Plot to Breach the Debt Ceiling”
Ryan Tate, Wired

 
It all started with a Wall Street Journal article about frequent-flier miles and a blog’s comment sections. Now the White House spokesperson is answering questions about using a $1 trillion coin to prevent default if Congress refuses to raise the debt ceiling.

“Bank Made Huge Bet, and Profit, on Libor”
Jean Eaglesham, The Wall Street Journal

 
Deutsche Bank made $654 million on trades pegged to interest-rate movements. What were those rates pegged to? LIBOR. And LIBOR was being manipulated by everyone.

“Apple Refuses to Make the One Mobile Device Taking Over the World—but Not for Long”
Christopher Mims, Quartz


Half tablet, half phone, 100 percent of the future of mobile computing?

“The Ghost in the Gulfstream”
Rich Cohen, Vanity Fair


The inside story on writing the impossible memoir of private-equity billionaire Teddy Forstmann.