Finance, fraud, filings, and whatever else corporations do when no one is looking.

Welcome to the corner of the internet where we take the world’s most complicated systems—markets, regulations, investigations, corporate disclosures, whatever the CFO is currently explaining to federal agents—and make them strangely simple, accidentally funny, and occasionally useful.

This newsletter exists because modern finance has become a giant mystery built out of vibes, footnotes, and people saying “this is fine” while the server room smokes in the background. Someone should write about it. Unfortunately, that someone is me.