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  Friday, 11 Feb 2011 | 12:08 PM ET

What's Sharm el-Sheikh—and Why is Mubarak Hiding Out There?

Posted By: Ash Bennington
Sharm el Sheikh, Egypt
Nicholas Pitt | Photodisc | Getty Images
Sharm el Sheikh, Egypt

Sharm el-Sheikh, the Egyptian city where Hosni Mubarak is holed up, is an interesting place for an autocrat to attempt to ride out a revolution.

Sharm—as the locals are known to charmingly call it—claims tourism for its major industry: It's basically an isolated resort town on the Red Sea coast.

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  Friday, 11 Feb 2011 | 11:27 AM ET

Kinder Morgan's Giant IPO

Posted By: John Carney
Kinder Morgan
Source: kne.com
Kinder Morgan

So much for the death of the IPO.

The 95.5 million shares of the pipeline company Kinder Morgan hit the streets at $30 this morning and immediately popped 6 percent.

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  Friday, 11 Feb 2011 | 11:06 AM ET

Budget or Bust: The GOP's Manifesto

Posted By: Lori Ann LaRocco

Next week will be budget or bust on Capitol Hill as the House Leadership gets ready to vote on budget cuts. Some within the GOP are saying the $43 million in proposed cuts proposed by Budget Committee Chairman Paul Ryan (R-WI) are not enough. On the other side of the aisle, they are saying the cuts go too far.

I decided to ask Tim Phillips, President and CEO of Americans for Prosperity, for his thoughts on the GOP game plan. You may have heard about AFP. President Obama called out Americans for Prosperity nearly a dozen times in his stump speeches last election year. AFP has quickly emerged as one of the most influential conservative groups in the country with more than 1.6 million activists in 31 chapters across 50 states.

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  Friday, 11 Feb 2011 | 10:20 AM ET

The Most Sordid Insider Trading Scandal Ever

Posted By: John Carney
handcuffs
AP
handcuffs

Sometimes it just feels like God is conspiring with nature to arrange the events of the world in such a way to make Bess Levin the perfect chronicler of our times.

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  Friday, 11 Feb 2011 | 9:31 AM ET

Citi & Morgan Stanley Closer to Collapse Than We Ever Knew

Posted By: Ash Bennington
Citigroup Building
Getty Images
Citigroup Building

In the depths of the financial crisis, Citigroupand Morgan Stanley were teetering on the precipice of total disaster, according to official documents. The new information, recently released by the Financial Crisis Inquiry Commission, paints a dark picture of both banks during the fall of 2008, as reported by Susanne Craig and Ben Protess in The New York Times DealBook.

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  Friday, 11 Feb 2011 | 8:48 AM ET

A Comparison of U.S. Treasury Debt to Other Triple-A Credits

Posted By: Ash Bennington
  Friday, 11 Feb 2011 | 7:13 AM ET

Financial Crisis Smackdown: Nocera vs. Wallison, Round 2

Posted By: John Carney
Glow Images | Getty Images

The battle between New York Times business writer Joe Nocera and Peter Wallison, one of the Republican commissioners on the Financial Crisis Inquiry Commission, rages on.

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  Thursday, 10 Feb 2011 | 4:45 PM ET

Mubarak To Egypt: Drop Dead

Posted By: Ash Bennington
  Thursday, 10 Feb 2011 | 4:22 PM ET

Allentown, PA Explosion and Google: Yikes!

Posted By: Ash Bennington

One of the problems with computers is this: The word choice sometimes seems tragically inappropriate.

When you think about it, it's not funny.

At all.

Postscript: Eliza Kruger still leading shirtless congressman Christopher Lee by a nose.

»Read more
  Thursday, 10 Feb 2011 | 4:06 PM ET

Will The Egyptian Army Force Mubarak Out?

Posted By: John Carney
Egypt's Mubarak addresses nation
CNBC
Egypt's Mubarak addresses nation

Egypt's President Hosni Mubarak announced Thursday that he would not step down until new elections are held in September. But he may have already lost control of his country.

The announcement came hours after numerous media organizations, including CNBC, had reported that Mubarak would step down as early as night.

In an apparent concession to his critics, he said he would hand over some of the authority for day to day government operations to his vice-president. It was Mubarak’s third televised speech since the uprising started on January 25th.

But earlier today the armed forces issued something called "Communique No.1", announcing what some feared was a military coup. The armed forces said they were moving to preserve the nation and the aspirations of the people. “Communique No. 1” emerged from a meeting of the Higher Army Council. Mubarak was not present at the meeting, which prompted many to speculate that Mubarak had already lost control over the armed forces.

It’s not clear that the armed forces will accept Mubarak’s scheme to remain in power. The army might be particularly disinclined to accept Mubarak remaining in office if the crowds in the streets of Egyptian cities continue the uprising.

»Read more

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