Facebook Hires YouTube's Moneyman

FINANCE
• YouTube's former finance chief joins Facebook as CFO. Sales drums bang louder. [WSJ]
• Mark Lenowitz, a stock picker for Chelsey Capital and Q Capital Investment, admitted to insider trading. [Reuters via DealBook/NYT]
• James O'Shaughnessy, a Bear Stearns exec once called "the father of strategy indexing," will leave the bank to start his own firm. [MarketBeat/WSJ]

LAW
• Do you want a clerkship? You have exactly one hour to decide. [Law Blog/WSJ]
• American law firms are bringing their aggressive ways and loud voices to France. [NYT]
• Taking the bar this week? Hope the laptop you were using didn't lose your essay. [Above the Law]

MEDIA
• Just one day after CNN hired Campbell Brown to replace some unnamed prime-time anchor, Paula Zahn announced that she will step down. [NYT]
• Some Wall Street Journal staffers compare director Michael Elefante with Neville Chamberlain. A sale in our time! [NYO]
• Jack Schafer wants the word "loophole" banned from news stories. [Slate]

FASHION
• CFDA/Vogue Fashion Fund nominees announced: Phillip Lim and the ThreeasFour designers make the short list. [British Vogue]
• Jennifer Lopez will adorn sixteen Condé Nast titles as the cover girl for Fashion Rocks in August. [WWD]
• The Prada phone has sold over 300,000 units since it launched in March. [Fashion Inc./Portfolio]