Now this is very interesting – controversial American writer/memoirist/Oprah punching bag James Frey is in even hotter water after being accused of financially exploiting several young writers over his new “Full Fathom Five” teenage fiction imprint. With a floating royalty rate based on whether the budding writers collaborate with Frey directly, FFF is ostensibly designed to help unpublished writers have their work seen by major editors and agents. It’s had a few successes so far, but Frey is now being taken to task for the seemingly draconian contracts these writers are required to sign. It’s an interesting model, but going on the details in the two articles below, Frey reveals himself as much a hard-nosed businessman as a literary entrepreneur. Here are the stories in the Telegraph, and the Guardian.