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Best of the Blogs: Report Says Russian Hacker Leaked 6.5 Million LinkedIn Passwords Online


Plus, do prosecutors have a case against MF Global executives?

This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.
Link: 6.5 Million Encrypted LinkedIN Passwords Leaked Online [REPORT]

"It's not a good day for LinkedIn (LNKD). After reports that its iOS app potentially violates user privacy by sending detailed calendar entries to its servers, comes a report that 6.46 million encrypted LinkedIn passwords have leaked online."

The New York Times: DealBook
Link: Assessing a Case Against MF Global Executives

"Much as the mythical Icarus plunged to his death after he flew too close to the sun, the trustee's report on the demise of MF Global (MFGLQ) shows how the firm pushed the permissible uses of customer money to the edge until the firm collapsed. The question is whether prosecutors can build a criminal case or whether management stayed close enough to the line to avoid being charged.

"The report issued by James W. Giddens, the trustee tasked with returning the money to customers, describes the rapid growth of MF Global after Jon S. Corzine took over as chief executive in 2010. While he had global ambitions for the firm, its infrastructure never kept pace with the complexity of the broader financial system."

Financial Times: BeyondBRICS
Link: Islamic Bonds: Then There Was Light

"It's no fun being a bond investor these days. You either invest in safe havens like US and German bonds and get a negative return, or go on adventure in countries like Spain and can't be sure you'll get your money back.

"So the emergence of Shariah compliant sukuk offers an appealing middle way. With the London 2012 Sukuk Summit being held on June 6 and 7, beyondbrics reviews the latest developments in the market.

"First to catch the eye is a steady rise in sukuk indices in the last few months. The Dow Jones Sukuk Index, for example, which measures the total return on US dollar denominated Islamic bonds, ended higher in May for the sixth time in as many months. Since 2009, the index has performed twice as well as the Barclays Capital Bond Composite Global Index, a benchmark for bonds."

Zero Hedge
Link: Another Spanish Bailout Plan Taking Shape As Germany Folds

"Reuters reports, 'A deal is in the works that would allow Spain to recapitalize its stricken banks with aid from its European partners but avoid the embarrassment of having to adopt new economic reforms imposed from the outside, German officials say. While Berlin remains firm in its rejection of Spain's calls for Europe's rescue funds to lend directly to its banks, the officials said that if Madrid put in a formal aid request, funds could flow without it submitting to the kind of strict reform program agreed for Greece, Portugal and Ireland.'

"Whether this is merely more posturing out of Germany to telegraph it is willing to step in, without actually doing it will likely soon be tested. When that happens, expect a backlash: 'Merkel has also sent the message that she is open to Europe-wide supervision of the banking sector, albeit as a "medium-term" goal, one element of a proposed "banking union" to break the vicious circle of interdependence between Europe's financial institutions and its sovereigns."

All Things D
Link: With Galaxy S III, Samsung makes the Case That One Size Does Fit All

"With the the first Galaxy S phones, Samsung (SSNLF) managed to make sure each device was tagged as "a Galaxy S smartphone," even though each of the U.S. carriers had their own moniker, such as Fascinate, Vibrant and Captivate. With the Galaxy S II, there were still variations in design and screen size, though the Galaxy S II name was universally adopted. (Sprint did insist on appending the Epic 4G Touch to the name, giving its Galaxy S II a long name and a split personality.)

"This time around, Samsung is changing all that. Each U.S. carrier is selling essentially the same Galaxy S III device. It looks the same and packs nearly identical features, with the cellphone radio being the only key variable. (The phone supports LTE networks on Sprint (S), Verizon (VZ), and AT&T (T), while using HSPA+ on T-Mobile.)"

Twitter: @ChrisWitrak
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