Just outstanding work.

It wouldn’t be the first time a fraud has been cracked by a blogger before the big media and regulators lumber around to it. Alex Dalmady broke the Stanford scandal, with a big push from Felix Salmon, then at Portfolio—and got disgracefully little credit by the media.

This is going to be a big story. I’ll be eyeballing the press closely to see how it handles attributing the news to the Bronte Capital blog.

(h/t Felix Salmon)

Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.