GUILTY, the rat bastards. Guilty, guilty, guilty. Professor Bainbridge is on the case, and is far more composed than I, as you might expect. In fact the Professor has put together an indispensable series of posts and links, so don't miss it.

Last summer I read The Smartest Guys in the Room, which was a brilliant page-turner, and Conspiracy of Fools, which was only slightly less so. I read them back to back, so the actual conviction was pretty much fait accompli for me, but it's still the biggest business news story of the year, so far.