Robert Smith
@bondhack.ft.com
Corporate Finance Editor at the Financial Times.
Have a tip? Email: robert.smith@ft.com / robert.smith.ft@proton.me | Signal: robert_smith_ft.55
Have a tip? Email: robert.smith@ft.com / robert.smith.ft@proton.me | Signal: robert_smith_ft.55
Pinned
If you're after a wild weekend read, check out our deep dive into the flashy Utah leasing firm that somehow racked up $2bn of exposure to the First Brands debt debacle
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
One amusing thing that just occurred to me in the whole Trump/BBC furore: because the Panorama documentary was first broadcast over a year ago, isn't he time-barred from bringing a defamation claim in English courts anyway?
November 10, 2025 at 11:37 PM
One amusing thing that just occurred to me in the whole Trump/BBC furore: because the Panorama documentary was first broadcast over a year ago, isn't he time-barred from bringing a defamation claim in English courts anyway?
Cracking profile from Tom Wilson of the incredibly euro commodities wunderkind who became a centimillionaire trading Russian oil
on.ft.com/3WOdnpW
on.ft.com/3WOdnpW
How this 31-year-old made $250mn in 30 months
Christopher Eppinger kept trading Russian oil when sanctions meant others stopped
www.ft.com
November 10, 2025 at 8:23 PM
Cracking profile from Tom Wilson of the incredibly euro commodities wunderkind who became a centimillionaire trading Russian oil
on.ft.com/3WOdnpW
on.ft.com/3WOdnpW
Reposted by Robert Smith
another nice piece on MSTR from @thekrazykobra.bsky.social
November 10, 2025 at 1:29 PM
another nice piece on MSTR from @thekrazykobra.bsky.social
"My 'we do very, very normal due diligence' shirt has people asking a lot of questions already answered by my shirt."
November 10, 2025 at 1:07 PM
"My 'we do very, very normal due diligence' shirt has people asking a lot of questions already answered by my shirt."
Reposted by Robert Smith
Maybe Keir should demand the heads of major US news networks any time they imply Britain is on the brink of civil war or that we live under sharia law. Or does it not work both ways?
November 10, 2025 at 11:29 AM
Maybe Keir should demand the heads of major US news networks any time they imply Britain is on the brink of civil war or that we live under sharia law. Or does it not work both ways?
Reposted by Robert Smith
As with the NHS, I think part of the problem is how the institution has been so thoroughly sentimentalised in both the public imagination and its own imagination, to the extent that even a minor infraction is greeted like the Werthers’ grandad going on a five-day ket rampage.
The BBC will fuck things up from time to time. Lots of major news organisations do; just look at The Times having to memoryhole several fake news stories in a matter of weeks.
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
UK newspaper editor calls Bill de Blasio fake interview blunder ‘humiliating’
A Times associate editor reportedly addressed situation in an email to staff, saying: ‘We should have been on our guard’
www.theguardian.com
November 10, 2025 at 10:19 AM
As with the NHS, I think part of the problem is how the institution has been so thoroughly sentimentalised in both the public imagination and its own imagination, to the extent that even a minor infraction is greeted like the Werthers’ grandad going on a five-day ket rampage.
The BBC will fuck things up from time to time. Lots of major news organisations do; just look at The Times having to memoryhole several fake news stories in a matter of weeks.
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
UK newspaper editor calls Bill de Blasio fake interview blunder ‘humiliating’
A Times associate editor reportedly addressed situation in an email to staff, saying: ‘We should have been on our guard’
www.theguardian.com
November 10, 2025 at 9:53 AM
The BBC will fuck things up from time to time. Lots of major news organisations do; just look at The Times having to memoryhole several fake news stories in a matter of weeks.
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
No one is calling for the abolition of The Times, however.
www.theguardian.com/us-news/2025...
Very normal scenes at a very normal session of the very normal United States Bankruptcy Court for the Southern District of Texas
More First Brands drama here from the incomparable @pollard.bsky.social and @sindap.bsky.social
www.ft.com/content/7f58...
More First Brands drama here from the incomparable @pollard.bsky.social and @sindap.bsky.social
www.ft.com/content/7f58...
November 7, 2025 at 1:28 PM
Very normal scenes at a very normal session of the very normal United States Bankruptcy Court for the Southern District of Texas
More First Brands drama here from the incomparable @pollard.bsky.social and @sindap.bsky.social
www.ft.com/content/7f58...
More First Brands drama here from the incomparable @pollard.bsky.social and @sindap.bsky.social
www.ft.com/content/7f58...
Reposted by Robert Smith
Learn to cook, fuckwit
November 7, 2025 at 12:44 PM
Learn to cook, fuckwit
If you financed thousands of windscreen wipers in Mexico, but that collateral was then “commingled”, who owns the windscreen wipers? Where exactly are the windscreen wipers? Why did anyone think that buying windscreen-wiper-backed bonds was a good idea in the first place? www.ft.com/content/b492...
Utah’s First Brands whale even leased the office furniture
A non-bank lender with the motto ‘been there, leased that’ finds out
www.ft.com
November 7, 2025 at 9:08 AM
If you financed thousands of windscreen wipers in Mexico, but that collateral was then “commingled”, who owns the windscreen wipers? Where exactly are the windscreen wipers? Why did anyone think that buying windscreen-wiper-backed bonds was a good idea in the first place? www.ft.com/content/b492...
💸🙏🏻 IN LEX WE TRUST 🙏🏻💸
A year before Greensill Capital’s collapse plunged Sanjeev Gupta’s GFG Alliance into crisis, the British steel tycoon described Australian financier Lex Greensill as “our perpetual god” who had “poured insane amounts of money” into his companies.
on.ft.com/47Etco8
A year before Greensill Capital’s collapse plunged Sanjeev Gupta’s GFG Alliance into crisis, the British steel tycoon described Australian financier Lex Greensill as “our perpetual god” who had “poured insane amounts of money” into his companies.
on.ft.com/47Etco8
‘Perpetual god’: Gupta trial reveals cash crunch and Greensill reverence
[FREE TO READ] Dubai case sheds light on UK steel tycoon’s business empire before main lender’s collapse plunged it into turmoil
on.ft.com
November 7, 2025 at 8:01 AM
💸🙏🏻 IN LEX WE TRUST 🙏🏻💸
A year before Greensill Capital’s collapse plunged Sanjeev Gupta’s GFG Alliance into crisis, the British steel tycoon described Australian financier Lex Greensill as “our perpetual god” who had “poured insane amounts of money” into his companies.
on.ft.com/47Etco8
A year before Greensill Capital’s collapse plunged Sanjeev Gupta’s GFG Alliance into crisis, the British steel tycoon described Australian financier Lex Greensill as “our perpetual god” who had “poured insane amounts of money” into his companies.
on.ft.com/47Etco8
Reposted by Robert Smith
turns out that when you owe the bank $2b, that can indeed be the bank's problem
If you're after a wild weekend read, check out our deep dive into the flashy Utah leasing firm that somehow racked up $2bn of exposure to the First Brands debt debacle
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
November 5, 2025 at 3:23 PM
turns out that when you owe the bank $2b, that can indeed be the bank's problem
In the last few days, the First Brands situation has escalated from “suspected” to “alleged” fraud.
Our crack bankruptcy reporters @sindap.bsky.social and @pollard.bsky.social have had you covered.
Our crack bankruptcy reporters @sindap.bsky.social and @pollard.bsky.social have had you covered.
November 4, 2025 at 6:58 PM
In the last few days, the First Brands situation has escalated from “suspected” to “alleged” fraud.
Our crack bankruptcy reporters @sindap.bsky.social and @pollard.bsky.social have had you covered.
Our crack bankruptcy reporters @sindap.bsky.social and @pollard.bsky.social have had you covered.
Reposted by Robert Smith
Nigel Farage, who has so far registered a total of £280,500 for four hours a month as a "brand ambassador" for a company selling gold bars, thinks a £10 an hour minimum wage for young people is too high bylinetimes.com/2025/11/03/n...
Nigel Farage Says Minimum Wage Should Be Cut for Young People
The Reform leader said cutting the minimum wage for young people would boost business, as he attacked plans to raise taxes on the wealthy
bylinetimes.com
November 3, 2025 at 1:05 PM
Nigel Farage, who has so far registered a total of £280,500 for four hours a month as a "brand ambassador" for a company selling gold bars, thinks a £10 an hour minimum wage for young people is too high bylinetimes.com/2025/11/03/n...
This is phenomenal reporting from @radleybalko.bsky.social, although be warned, the term "gut punch" doesn't even cover it radleybalko.substack.com/p/accusing-j...
Accusing Jordan Silverman
A D.C. teaching assistant was accused of molesting up to 15 kids. Multiple law enforcement agencies cleared him. But his nightmare was just beginning.
radleybalko.substack.com
November 3, 2025 at 12:05 AM
This is phenomenal reporting from @radleybalko.bsky.social, although be warned, the term "gut punch" doesn't even cover it radleybalko.substack.com/p/accusing-j...
I don't usually criticise my colleagues in public, but I'm dismayed that this FT article has overlooked the capital's true proprietary trading whale.
I am of course taking about East London's GSR (Gary Stevenson Research).
www.ft.com/content/8a65...
I am of course taking about East London's GSR (Gary Stevenson Research).
www.ft.com/content/8a65...
London becomes ‘quant’ powerhouse as traders rake in revenues
A pipeline of skilled graduates is helping the UK build out its expertise in algorithmic trading
www.ft.com
November 2, 2025 at 12:44 PM
I don't usually criticise my colleagues in public, but I'm dismayed that this FT article has overlooked the capital's true proprietary trading whale.
I am of course taking about East London's GSR (Gary Stevenson Research).
www.ft.com/content/8a65...
I am of course taking about East London's GSR (Gary Stevenson Research).
www.ft.com/content/8a65...
Reposted by Robert Smith
The FT does some of the best and most engaging financial reporting in the world. They have made the story of a dodgy car parts company that borrowed billions fascinating.
November 1, 2025 at 9:45 PM
The FT does some of the best and most engaging financial reporting in the world. They have made the story of a dodgy car parts company that borrowed billions fascinating.
So many great details in this compelling @annanicolaou.bsky.social profile of the guardian of Michael Jackson's estate, but from a financial perspective I particularly enjoyed his unique approach to taking on distressed debt mavens Fortress www.ft.com/content/f425...
November 1, 2025 at 5:51 PM
So many great details in this compelling @annanicolaou.bsky.social profile of the guardian of Michael Jackson's estate, but from a financial perspective I particularly enjoyed his unique approach to taking on distressed debt mavens Fortress www.ft.com/content/f425...
If you're after a wild weekend read, check out our deep dive into the flashy Utah leasing firm that somehow racked up $2bn of exposure to the First Brands debt debacle
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
November 1, 2025 at 2:35 PM
If you're after a wild weekend read, check out our deep dive into the flashy Utah leasing firm that somehow racked up $2bn of exposure to the First Brands debt debacle
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
Featuring prominent Mormon sports stars, a private jet, cheerleaders and an epic corporate rap video
www.ft.com/content/f0ae...
Reposted by Robert Smith
This week on Behind the Money, we're taking you inside the collapse of car parts supplier First Brands Group and the ripple effects out into Wall Street (thanks to the @financialtimes.com's Ortenca Aliaj and @bondhack.ft.com)
Listen 🎧: podcasts.apple.com/us/podcast/b...
Listen 🎧: podcasts.apple.com/us/podcast/b...
October 30, 2025 at 2:49 PM
This week on Behind the Money, we're taking you inside the collapse of car parts supplier First Brands Group and the ripple effects out into Wall Street (thanks to the @financialtimes.com's Ortenca Aliaj and @bondhack.ft.com)
Listen 🎧: podcasts.apple.com/us/podcast/b...
Listen 🎧: podcasts.apple.com/us/podcast/b...
Reposted by Robert Smith
Good to see @dailymail.co.uk @thetimes.com and @telegraphnews.bsky.social all delete their articles - sad the lies went up in the first place
Totally untrue garbage from @thetimes.com & @dailymail.co.uk today - smear dressed up as journalism. Some facts:
- There is no “£900 desk”
- my constituency office has Ikea desks/chairs
- we significantly underspent the new MPs allowance to set up an office
www.thetimes.com/uk/politics/...
- There is no “£900 desk”
- my constituency office has Ikea desks/chairs
- we significantly underspent the new MPs allowance to set up an office
www.thetimes.com/uk/politics/...
Treasury minister leading budget plans spent £900 on desk
Torsten Bell, who is working with Rachel Reeves to fill a £30 billion hole in finances, also used his parliamentary expenses to claim £600 for three chairs
www.thetimes.com
October 27, 2025 at 4:55 PM
Good to see @dailymail.co.uk @thetimes.com and @telegraphnews.bsky.social all delete their articles - sad the lies went up in the first place
Finally got round to reading Jim's opus on the Camorra-adjacent snail farmer and it's even better than I hoped
I think this is the weirdest story I've ever reported. www.londoncentric.media/p/terry-ball...
The snail farmer of London, his mafia friends, and a £20m vendetta against the taxman
Terry Ball runs elaborate mollusc-based tax avoidance schemes that are costing London councils millions of pounds. Yet when London Centric tracks him down, an even stranger story emerges.
www.londoncentric.media
October 27, 2025 at 6:36 PM
Finally got round to reading Jim's opus on the Camorra-adjacent snail farmer and it's even better than I hoped
This may be one of the most brutal book reviews I’ve ever read and deservedly so www.washingtonpost.com/books/2025/1...
Review | In her new book, Biden’s former press secretary lets Democrats have it
Karine Jean-Pierre’s memoir offers a critique of Biden and the Democrats that is outdated, impractical and driven more by personal grievance than policy.
www.washingtonpost.com
October 26, 2025 at 3:00 PM
This may be one of the most brutal book reviews I’ve ever read and deservedly so www.washingtonpost.com/books/2025/1...
Increasingly clear why Jeff Bezos described AI as the “good” kind of bubble!
Exclusive: Anthropic spent $2.66 billion on Amazon Web Services in the first three quarters of 2025, around 100% of their estimated revenue. Its costs appear to increase with their revenue, showing little path to profitability.
www.wheresyoured.at/costs/
www.wheresyoured.at/costs/
This Is How Much Anthropic and Cursor Spend On Amazon Web Services
So, I originally planned for this to be on my premium newsletter, but decided it was better to publish on my free one so that you could all enjoy it. If you liked it, please consider subscribing to su...
www.wheresyoured.at
October 21, 2025 at 7:16 AM
Increasingly clear why Jeff Bezos described AI as the “good” kind of bubble!