GO
Loading...

NetNet

More

  Monday, 31 Jan 2011 | 10:58 AM ET

Walking Away in Spain

Posted By: Ash Bennington
CNBC.com

You can now walk away from your house in Spain—even if it has negative equity—just like you can in America.

Historically, the so-called jingle mail phenomenon—where borrowers walked away from mortgages when they were underwater—was relatively rare in Spain. The reason was simple: Spanish banks had 'full recourse' to go after the defaulting creditor's futures assets—often for decades.

» Read More
  Monday, 31 Jan 2011 | 9:16 AM ET

Goldman's Blankfein Gets a $3.6 Million Raise

Posted By: Ash Bennington

ExxonMobil beats the street with fourth quarter profits of $1.85 per share—up 45 percent from the same period last year. [CNBC]

The pressure from the opposition is mounting in Egypt. [WSJ]

Violence and looting are major concerns in Cairo. [Financial Times]

Goldman's Blankfein gets a $3.6 million raise. [CNBC via NY Times]

"Global shares continued to slide on Monday , while Europe's benchmark Brent crude was just short of $100 a barrel on fears political unrest in Egypt could spread among regional oil-producing nations." [Reuters]

Chinese inflation may reduce its trade deficit with the U.S. [NY Times]

Treasuries Drop on Speculation Report Will Show Personal Spending Climbed . [Bloomberg]

Syrian President Bashar al-Assad, who took power after his father's death,has signaled an openness to greater reform. [Wall Street Journal]

Sanofi and Genzyme have signed a nondisclosure agreement to discuss a possible merger. [DealBook]

In the movie business, never write off Harvey Weinstein. ("Remember the benevolent Bruce Willis character in 'The Sixth Sense' who wandered through the whole movie not knowing he was dead? That was Harvey Weinstein, except for the benevolent part.") [NY Times]

»Read more
  Friday, 28 Jan 2011 | 4:52 PM ET

Indices Tumble on Investor Fears About Egypt

Posted By: Ash Bennington
  Friday, 28 Jan 2011 | 4:46 PM ET

Gamal Mubarak’s Financial Crisis Advice

Posted By: John Carney
Gamal Mubaraks
Source: Wikipedia
Gamal Mubaraks

One of the odder things that has come to my attention today is that back in February 2009, Gamal Mubarak \(the son of soon to be former Egyptian leader Hosni Mubarak\) met with a US Senator and gave his advice on how to address our financial crisis.

» Read More
  Friday, 28 Jan 2011 | 4:44 PM ET

Amazing Egyptian Car Drives Sideways

Posted By: John Carney
Check this out. »Read more
  Friday, 28 Jan 2011 | 4:03 PM ET

Unemployed Americans Are Still Way too Optimistic

Posted By: John Carney

"Despite today's nearly double-digit unemployment rate, 4 in 10 unemployed Americans expect to get a job in the next four weeks and one in three underemployed have the same expectations with respect to obtaining a full-time job."

» Read More
  Friday, 28 Jan 2011 | 3:34 PM ET

Digital, Revolution, and the Digital Revolution

Posted By: Ash Bennington
An Egyptian demonstrator confronts riot police during a demonstration after the Friday noon prayer in Cairo on January 28, 2011, to demand the ouster of President Hosni Mubarak, 82, who has held on to power for more than three decades.
Mohammed Abed | AFP | Getty Images
An Egyptian demonstrator confronts riot police during a demonstration after the Friday noon prayer in Cairo on January 28, 2011, to demand the ouster of President Hosni Mubarak, 82, who has held on to power for more than three decades.

Technology is the classic two-edged sword.

In its broadest sense—as the knowledge or mechanism of achieving a result—technology is agnostic of its ends.

Fire cooks, warms, protects—burns, kills, and destroys.

» Read More
  Friday, 28 Jan 2011 | 3:11 PM ET

Unrest in Egypt Fueling Rally in Gold

Posted By: Lori Spechler
A combo of pictures shows Egyptian demonstrators tearing a huge portrait of President Hosni Mubarak during a protest against his rule in the northern port city of Alexandria on January 27, 2011.
AFP | Getty Images
A combo of pictures shows Egyptian demonstrators tearing a huge portrait of President Hosni Mubarak during a protest against his rule in the northern port city of Alexandria on January 27, 2011.

Unrest in Egypt putting the fear factor back into the gold trade—at least for today.

Ashraf Laidi, CMC Markets says today’s gold rally is “safe haven buying” and can also be seen in U.S. treasuries and oil. “Intensifying violence in Egypt” has “implications for MidEast policy & oil flow,” he says

Volume in April gold futures contract was about 35 to 40 percent above normal today, trading well over 200-thousand contracts.

According to traders, short covering by speculators is fueling more buying by computer-driven models that track order flow and momentum. “The market is definitely short in gold—you are definitely running some of the shorts out of the market today,” says Kevin Grady gold trader with MF Global. And that short-covering demand is fueling more buying by algorithmic systems that are programmed to look for volatility in the markets. “There is so much panic, the moves are not $5 or $10 moves but $30 or $40 moves,” says Kevin. » Read more

»Read more
  Friday, 28 Jan 2011 | 1:32 PM ET

What's Wrong With Simon Johnson?

Posted By: John Carney
Simon Johnson, the former chief economist of the IMF
Getty Images
Simon Johnson, the former chief economist of the IMF

Simon Johnson, the former chief economist of the IMF who is now a leading financial commentator at Baseline Scenario, is one of the more prominent critics of the view that blame for the financial crisis falls on affordable housing and fair lending policies. The problem is that his critique is extremely misguided.

» Read More
  Friday, 28 Jan 2011 | 12:47 PM ET

Hedge Fund Fisticuffs: Does Anyone Really 'Get It'?

Posted By: Ash Bennington
Digital Vision | Photodisc | Getty Images

Let's talk about risk.

As I pointed out this morning , the backlash against Goldman Sachs president Gary Cohn's remarks about hedge fund regulation continues.

Let's begin at the beginning.

» 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."

NetNet TV

Wall Street