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 AffairAdam 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 RefisJesse 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 LeaderDavid Barboza, New York Times How the family of China’s premier managed to accumulate $2.7 billion.
May the Odds Be Ever in Your FavorChadwick Matlin, Tomorrow Magazine
Have we really gotten any better at predicting the future? Can we?