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  Tuesday, 15 Feb 2011 | 9:15 AM ET

Buffet Dumps his Bank of America Shares—at a Huge Loss

Posted By: Ash Bennington

Buffet dumps his Bank of America shares—at a huge loss. [Bloomberg]

US hedge funds report their quarterly holdings. DealBook provides the highlight reel. [DealBook]

Facebook's 'Frenemies': In Silicon Valley, the line between partner and competitor is a thin one.

Commodity prices are jumping

—and those costs are creeping into consumer goods. [NY Times]

After much high-minded discussion of allowing states to file for bankruptcy, the backlash against that option has begun in Congress. [CNBC via FT]

Bahrain's "Day of Rage" leads to clashes with police—and deaths. [Financial Times]

Reuters gives advice on avoiding 'a Madoff' when picking your financial advisor . (One suspects the advice would have been equally welcome prior to 'The Madoff'.) [Reuters]

Being sober is boring: Just ask Charlie Sheen. [NY Post]

»Read more
  Monday, 14 Feb 2011 | 7:20 PM ET

MERS Dealt Severe Blow by Federal Bankruptcy Court

Posted By: Ash Bennington
  Monday, 14 Feb 2011 | 4:43 PM ET

'Justice' Will Not Be Denied

Posted By: Ash Bennington

Big money—and big names—are behind a new buyout firm called Justice Holdings.

Justice holdings, a special-purpose acquisition company \(SPAC\), has just raised £900 million, which is just under $1.5 billion.

» Read More
  Monday, 14 Feb 2011 | 4:38 PM ET

National Taxpayers Union: "Savings" in President's Budget Are Smoke and Mirrors 

Posted By: Lori Ann LaRocco

The budget battle is official on and it's going to get ugly fast. Criticism over the proposal has been puring out all day and it will hit a feverish pitch on Wednesday when the House has its first cut on Budget cuts.

Some policy analysts are predicting the Obama administration's budget is already dead on arrival and that the White House's real strategy is to sit back and watch the Republicans call for Draconian cuts and bring about a government shut down.

To get the full breakdown of what this budget means to the American taxpayer, I spoke with Pete Sepp, Executive Vice President of the moderate, conservative group, the National Taxpayers Union who did a line by line cost analysis and exclusively gave me the breakdown.

The National Taxpayers Union Foundation \(NTUF\), the research affiliate of the National Taxpayers Union, broke down the numbers.

» Read More
  Monday, 14 Feb 2011 | 4:25 PM ET

Diamonds Are Q1’s Worst Friend

Posted By: Nicole Lapin
CNBC

Bling not in little blue boxes is looking to a lackluster Q1. Blue Nile , an online jewelry retailer, saw its stock fall 12 percent just after the company announced that it was expecting a weaker quarter.

» Read More
  Monday, 14 Feb 2011 | 3:40 PM ET

Why Ending the Mortgage Interest Deduction Would Save the Economy

Posted By: John Carney
Mortgage
CNBC.com
Mortgage

Earlier today, the White House released a budget proposal that included trimming the mortgage interest deduction for taxpayers in the top income tax brackets.

This is the first step in eliminating what many economists view as an expensive and inefficient housing subsidy.

» Read More
  Monday, 14 Feb 2011 | 3:14 PM ET

Goldman Sachs Cannot Stop Taking Over the Government

Posted By: John Carney
Goldman Sachs
Source: goldmansachs.com
Goldman Sachs

A little bit earlier today I got sarcastic and cynical about Goldman Sachs hiring a top FDIC dealmaker. It’s the sort of thing that happens all the time—top regulators going to Wall Street banks, and vice versa—but it’s worth taking notice of.

» Read More
  Monday, 14 Feb 2011 | 2:36 PM ET

Revolving Door Swivels Again: Regulator Goes to Goldman

Posted By: John Carney
Ryan McVay | Photodisc | Getty Images

One of the chief banking rescue deal guys has decamped the FDIC for the more profitable climes of Goldman Sachs .

» Read More
  Monday, 14 Feb 2011 | 2:00 PM ET

Why the Unemployment Rate Has Become a Bad Joke

Posted By: Jeff Cox
Unemployment
Unemployment

The national unemployment rate is becoming an increasingly meaningless statistic when it comes to painting a true picture of economic and job growth.

» Read More
  Monday, 14 Feb 2011 | 1:17 PM ET

Attention UBS Folks: Beware of Honda Civics

Posted By: Ash Bennington
2011 Honda Civic NVG
Source: Honda
2011 Honda Civic NVG

If you're looking to get a meeting with the president of a Swiss bank, 'gesturing' with a bat may not be the most effective way to achieve your goal.

» Read More

About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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