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  Tuesday, 1 Mar 2011 | 5:00 PM ET

Rajat Gupta: Bigger Than Madoff?

Posted By: John Carney
Rajat Gupta
Getty Images
Rajat Gupta

Rajat Gupta may be the most important businessman ever charged with a serious violation of securities laws.

The standard defendants in insider trading cases are low-level employees of corporations or Wall Street firms. Only very occasionally does anyone who has risen to the height of a Raj Rajaratnam—the founder of Galleon, and alleged co-conspirator of Gupta—get charged with serious violations.

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  Tuesday, 1 Mar 2011 | 4:28 PM ET

SEC Examines Hedge Fund' Side Pocket' Accounts

Posted By: Ash Bennington
  Tuesday, 1 Mar 2011 | 4:11 PM ET

Is Rajat Gupta a Lunatic, Logo, or Luckless Innocent?

Posted By: Ash Bennington
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

Rajat Gupta, the business titan charged today with insider-trading by the SEC, was at the center of Wall Street—and the crimes he has been accused of committing allegedly occurred at the very heart of Wall Street as well.

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  Tuesday, 1 Mar 2011 | 3:28 PM ET

Small Business Indicator: Labor Market Continues to Be Soft 

Posted By: Lori Ann LaRocco

Any time I speak with my contacts about jobs it always goes back to the small businessman. Being the driver of jobs, the health of small business is key to a growing U.S. economy.

Today Intuit released its monthly Small Business Employment Index which aggregates online employment data from approximately 60,000 small business employers that have less than 20 employees. I asked Susan Woodward, the economist who worked with Intuit to create the index on this month's highlights.

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  Tuesday, 1 Mar 2011 | 2:33 PM ET

Rajat Gupta Had Inside Information on $61 Billion P&G Deal in 2005

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

The insider trader charges against Rajat Gupta raise the question: if he leaked to Raj Rajaratnam about the Goldman-Berkshire Hathaway deal, what else might he have leaked?

Gupta ran McKinsey & Co, one of the top advisors to corporate America, from 1994 to 2003. That position gave him almost unlimited access to inside information. Could Gupta have been leaking back then?

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  Tuesday, 1 Mar 2011 | 2:27 PM ET

Predatory Homeowners Run Amok!

Posted By: Ash Bennington
Sold sign
Sold sign

A predatory homeowner paid off her mortgage 24 years early—depriving the bank of 288 valuable interest payments—and then has the nerve to complain about her FICA score!

From The Chicago Trib :

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  Tuesday, 1 Mar 2011 | 1:41 PM ET

Did the Europeans Just Invent a New Government Backed Derivative?

Posted By: Ash Bennington
M. Lorden | Taxi | Getty Images

The chief executive of the European Financial Stability Facility has written a letter to the Financial Times to explain why EFSF bonds are not CDOs.

CDOs, or collateralized debt obligations, are a type of structured financial product that is funded by payments made from bonds or other fixed-income securities. CDOs typically have multiple tranches, which represent different payment priorities. \(For example, junior tranches of the CDO would get paid after senior tranches. Junior tranches, therefore, would pay higher rates of interest to compensate investors for their additional risk.\)

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  Tuesday, 1 Mar 2011 | 1:29 PM ET

Goldman Ex-Director Insider Trading Charges May Solve Long-Running Market Mystery

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.

The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant,provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used the inside information to trade on behalf of hedge funds controlled by his company, Galleon. \(Click here to read the breaking news story from CNBC.com.\)

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  Tuesday, 1 Mar 2011 | 12:05 PM ET

Ex-Goldman Director Accused Of Leaking Inside Information

Posted By: CNBC.com
Rajat Gupta
Eric Piermont | AFP | Getty Images
Rajat Gupta

A former board member of Goldman Sachs was accused by the SEC of providing inside information about the investment bank—including its earnings and a pending investment by Berkshire Hathaway— to Galleon hedge fund founder Raj Rajaratnam.

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  Tuesday, 1 Mar 2011 | 11:24 AM ET

US Company Close to Deal to Buy UK's Second Largest Electricity Generator

Posted By: Lori Ann LaRocco

U.S. energy supplier PPL Corp is close to a $6 billion cash deal to buy the UK electricity grid distribution business of E.ON AG, according to a person close to the deal.

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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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