The Magnetar Song


If the lengthy story in ProPublica wasn't enough, Magnetar Capital now has to deal with a show tune created about its infamous trade called "Bet Against the American Dream."

The song, written by the guys from Avenue Q, the Tony award-winning musical, was played during a broadcast of This American Life, the popular NPR radio show hosted by Ira Glass. NPR teamed up with ProPublica, which broke the story, for a show on Saturday focused on the hedge fund.

Bet Against The American Dream from Planet Money on Vimeo.

A Show Tune About A Hedge Fund: 'Bet Against The American Dream' [NPR]


Europe Also Screwing The Caymans

Not only is Europe’s debt problems bludgeoning the U.S. markets today, but the continent is also on the verge of dealing a huge blow to the hedge fund industry and its favorite tax havens.

The SEC Gives Staffers Another Way to Access Online Porn

Finally! After six grueling months of negotiations with the union representing Securities and Exchange Commission’s employees, the agency plans to issue 294 BlackBerry’s to certain staffers by the end of July. We're not sure whether the new devices will be the old-school Berry’s with the side-scroll wheel or the newfangled 3G models with web browsing, but you can be sure SEC favorites like will be blocked.