GO
Loading...

Enter multiple symbols separated by commas

NetNet

More

  Tuesday, 29 Mar 2011 | 7:26 AM ET

Was AIG Clueless or Criminal?

Posted By: John Carney
AIG
AIG

A top AIG executive’s testimony to the financial crisis panel reveals a profound lack of understanding of the mortgages derivatives business that helped cripple the insurance giant.

Andrew Forster headed up the London office of AIG Financial Products \(AIGFP\)—the group that sold credit protection on mortgage-backed securities. His group—sometimes called “ground zero of the financial crisis”—agreed with Goldman Sachs to provide credit protection on a mark-to-market basis for various mortgage securities.

» Read More
  Monday, 28 Mar 2011 | 4:44 PM ET

Muni Bonds in 'Deep Freeze'

Posted By: Ash Bennington
  Monday, 28 Mar 2011 | 4:16 PM ET

Two Reasons the Raj Defense Team Is Nervous About Today's Star Witness

Posted By: Katya Wachtel, Business Insider
Raj Rajaratnam
AP
Raj Rajaratnam

This afternoon, former Galleon trader Adam Smith, is expected to testify in the Raj Rajaratnam insider trading trial. He's already pleaded guilty to insider trading.

And the defense has already made attempts to diminish the damage his testimony could do their case.

» Read More
  Monday, 28 Mar 2011 | 2:52 PM ET

Libyan Rebels Form Their Own Central Bank

Posted By: John Carney
Libyan rebels progress westward from the town of Bin Jawad towards Muammar Gaddafi's home town of Sirte on March 28, 2011 as NATO finally agreed to take over full command of military operations to enforce a no-fly zone in Libya from a US-led coalition.
Aris Messinis | AFP | Getty Images
Libyan rebels progress westward from the town of Bin Jawad towards Muammar Gaddafi's home town of Sirte on March 28, 2011 as NATO finally agreed to take over full command of military operations to enforce a no-fly zone in Libya from a US-led coalition.

Libyan rebels in Benghazi say they have formed their own central bank.

The rebel group known as the Transitional National Council released a statement last week announcing that they have designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya, and that they have appointed a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi, according to Bloomberg.

» Read More
  Monday, 28 Mar 2011 | 2:09 PM ET

Cash-Hoarding Companies Put Economy, Stock Rally at Risk

Posted By: Jeff Cox
money_lock_2_200.jpg
Tetra Image | Getty Images

All that cash piling up on corporate America’s balance sheet could end up hurting an economic recovery and further gains in the stock market.

At 5.96 percent, the ratio of cash to total company assets is nearing a 45-year peak, according to the Federal Reserve and Credit Suisse . Such a high total has advantages for sure—the ability to do deals and to return money to shareholders to name just two—but it also has drawbacks.

» Read More
  Monday, 28 Mar 2011 | 12:46 PM ET

Irish Bank Liquidity and Wilbur Ross Deal

Posted By: Lori Ann LaRocco
ross_wilbur_200.jpg
Lucien Capehart | Getty Images

With Ireland's bank stress test results coming out on March 31st, the announcement of a possible European Central Bank liquidity chess move has the markets bracing for bad news.

The ECB is looking to expand its operational reach in Ireland by replacing a short-term funding plan known as the Exceptional Liquidity Assistance \(ELA\) with a new €60 billion medium-term “liquidity” loan plan.

» Read More
  Monday, 28 Mar 2011 | 11:23 AM ET

Banks Push to Weaken Dodd-Frank Risk Rules

Posted By: John Carney
Government Regulation
CNBC.com
Government Regulation

Bank regulators are set to hold an open meeting on Tuesday to discuss a controversial risk-retention rule for mortgages—and its even more controversial carve-out.

Under the Dodd-Frank financial reforms, banks are required to retain at least five percent of the risk on mortgages they securitize.

The idea was that banks would be more careful about making loans and structuring mortgage-backed securities if they were required to keep a part of the credit risk. From the start, that has had banks griping that this will choke off the mortgage market and raise borrowing costs of home-buyers.

» Read More
  Monday, 28 Mar 2011 | 11:09 AM ET

The Warren Buffett And Anne Hathaway Trade

Posted By: Ash Bennington
Anne Hathaway and Warren Buffett
Getty Images
Anne Hathaway and Warren Buffett

Anne Hathaway and Warren Buffett have recently been linked in the media—though not romantically, thank god.

No, this linkage is purely statistical.

» Read More
  Monday, 28 Mar 2011 | 10:27 AM ET

Goldman Sachs Employees Told Not to Leave Japan

Posted By: John Carney
Goldman Sachs
Getty Images
Goldman Sachs

At least four Goldman Sachs executives flew into Japan last week to speak with nervous ex-pat employees about radiation fears, according to a person familiar with the situation. They also conveyed another message: don't leave Japan and don't leave Tokyo.

» Read More
  Monday, 28 Mar 2011 | 10:27 AM ET

Wilbur Ross:Japan Car Market Was Weak Even Before the Tragedy

Posted By: Lori Ann LaRocco
NN_c_suite_200.jpg

Since the deadly earthquake and tsunami in Japan, the auto industry is facing supply chain shortages which are impacting their manufacturing decisions . But paint isn't the only challenge facing automakers. Some auto parts are manufactured in Japan.

Wall Street waits to see what kind of impact this will have on dealers when it comes to servicing their customer's cars.

I decided to ask legendary turnaround specialist Wilbur Ross, who owns the auto parts giant International Automotive Components Group, about how the disaster is impacting the auto parts industry.

» 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.

 

Wall Street