Business

05.05.13

The best longreads in business and finance for the week of May 4

From the hunt for the world’s best trader to the post-resignation blues of a former bank CEO, the Daily Beast brings you the best of business and finance journalism for the week of May 4.

The Hunt For Steve Cohen
Bethany McLean and Bryan Burrough, Vanity Fair

Hedge fund Steve Cohen got off the hook when his firm, SAC, paid $616 million to the SEC to settle insider trading charges. But was that the beginning of the end for the world’s greatest trader?

Robert Diamond’s Next Life
Andrew Ross Sorkin, New York Times Magazine

When Robert Diamond was CEO of Barclays, he didn’t know how the LIBOR submission process worked. One $450 million settlement later, he was out of his job at the behest of the governor of the Bank of England. What’s he doing next? Maybe starting another banking company. But for now, he’s going to lots of Brooklyn Nets games.

It’s All About the Bitcoin, Baby
Jessica Roy, New York Observer

“I had to get money from my mom to start this company. No investor would give me anything. And now they all want in.”

How the Bank of Japan Staged Its Big Bang
Leika Kihara, Reuters

How did Haruhiko Kuroda convince the Bank of Japan to go along with the most aggressive monetary policy actions since the financial crisis? With his “nerdy charisma” and the influence of BOJ officials itching for more.

Anshu Jain Brings Deutsche Bank to World as Client's Man
Nicholas Comfort, Bloomberg Markets

Germans have long been suspicious of high finance, so can an Indian-born London banker keep Germany’s biggest bank safe, sound, and profitable?