10 Sunday Reads – The Big Picture

Avoid eyes! my Sunday morning See Incompetence, Corruption and Policy Failure:

The nonstop scam economy is costing us more than just money A constant wave of sophisticated phone and online scams is affecting people’s mental health. (Washington Post)

Donald Trump’s tampering, a rioter’s remorse, and other takeaways from the January 6 hearing Committee members vowed the latest hearing would be a “profound moment of reckoning” for America next week. (Vox) see more The DOJ must prosecute Trump: January 6th was Trump’s project all along and the Justice Department has enough evidence to prosecute him. (Atlantic)

Switzerland, the playground of Russian oligarchs, emerged as the weak link in sanctions Ownership changes and tradition of secrecy thwart efforts by Alpine financial haven to punish billionaire allies of Vladimir Putin (WSJ)

‘Hit the kill switch’: Uber used secret technology to foil government operation Regulators walked into Uber’s offices only to see computers go dark before their eyes. (Washington Post) see more Uber broke the law, evaded police and secretly lobbied the government, leaks reveal More than 124,000 confidential documents leaked in the Guardian file reveal efforts by Joe Biden, Olaf Scholz and George Osborne to secretly help lobby Uber in France, with texts revealing the company used a ‘kill switch’ during the operation to stop police from seeing the information. Executives ‘violence guarantees success’. (parent)

Inside Celsius: How One of Crypto’s Biggest Lenders Stopped Former employees and internal documents suggest that a reckless pursuit of high returns has left the company in a vulnerable position to ride out this year’s market turmoil (Financial Times). see more Crypto collapse: 3AC, Voyager, Celsius and other Defy casualties: All Bankman-fried can do is buy time. The whole cryptosystem is exploding. People are finally realizing that most of the money they had in crypto was fictitious. You didn’t lose money in the crash — you lost your money when you bought crypto. (Amy Castor)

A massive leak of tens of millions of Chinese government data tests a new privacy law Food orders, crime reports and personal details: A historic data breach reveals the inner workings of China’s surveillance state. (grid)

Big business goes after another regulator to do its job, which is protecting consumers Chopra is not cut from that cloth. As chair of the CFPB, he targeted credit card late fees and bank overdraft fees, which he called “junk fees” through which “large financial institutions prey on their customers” and make them feel “guilty.” A January press conference announced an investigation into the allegations (Los Angeles Times)

Right-wing smear campaign against a doctor who helped a 10-year-old rape victim An editorial published in the Wall Street Journal on Tuesday evening called it a “fictional story that is too good to be true.” Ignoring first-hand accounts, the editorial claimed that “there is no evidence that the girl ever existed.” The piece criticized not providing details that could reveal the identity of the 10-year-old, calling it a hoax. Fox News says abortion rights advocates have invented a “fake” rape victim. (Popular Information) see more Stories of unimaginable miscarriages will become more common. American journalism ready? After the end of Roe v. Wade in America, a bold source on the record is often the best we’re going to get. Countless other stories will not be told. (Nieman Labs)

What happened to Michael Flynn? In military intelligence, he was renowned for his ability to connect the dots and track down terrorists. But somewhere along the way, his dot detector started spinning out of control. (Atlantic)

How Conservatism Conquered America—and Corrupted Itself The conservative victories of the past month were decades in the making. Three books on the right reveal what it cost the movement. (Vox)

Be sure to check out our Masters in Business this week with Antti Ilmanen, Co-Head of AQR Capital, Portfolio Solutions Group. Ilmanen’s market theory and research is highly respected, and he has won multiple awards, including the Graham and Dodd Award, the Harry M. Markowitz Special Distinction Award, multiple Bernstein Fabozzi/Jacobs Levy Awards and CFA Institute’s Leadership in Global Investments Award. His recent book “Investing in low expected returns

US + China emissions = loss to other countries about $4tn
Source: The Guardian

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