Financial Regulation in the Twenty-First Century
Washington Post Death Spiral Watch (Fred Hiatt Edition)

She "Lost" Her Phone, Ha-Ha!

Megan McArdle says that she has to buy a new-model iPhone today because she "lost" her cell phone:

Megan McArdle: What do you do with your old iPhone?: Well, today's the day that Jobs is supposed to unleash his new creation on the world--and not a moment too soon, as I seem to have lost my old cell phone...

I would snark without mercy, except that I really did lose my cell phone last week. Honest. Swear. I can provide affidavits...

For those who have not lost their iPhones, she has advice:

For those who are still in full possession, however, this presents a problem, at least if they are iPhone owners. The new phone will have better data speeds, probably better call quality, and several new features like GPS. This suddenly renders the price of their old phones--well, probably you can still trade it in that currency composed entirely of gigantic stones. The word on the street from my shadowy hipster associates is that the thing to do is jailbreak the phone and then ebay it internationally to some country where the iPhone is not yet sold through a carrier. In those fabled lands, a jailbroken iPhone 1.0 is probably worth almost as much as you paid for it.