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  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.

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  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.

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  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.

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  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 .

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  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.

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  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
  Monday, 14 Feb 2011 | 12:52 PM ET

What It's Like to Meet With the King of All Hedge Funds

Posted By: John Carney
Stephen A. Cohen
Source: SAC Capital Partners
Stephen A. Cohen

James Altucher has written a heartbreaking tale of how he managed to score a meeting with hedge fund overlord Steve Cohen, parlay that into a potential business deal, then bungle the whole thing when he lost confidence in himself.

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  Monday, 14 Feb 2011 | 11:47 AM ET

Former IndyMac CEO's Lawyer Blasts SEC

Posted By: Ash Bennington

An attorney representing former IndyMac CEO Mike Perry fired back at the SEC, in the wake of the agency's fraud charges against their client on Friday .

Here are some highlights from Perry's attorney Jean Veta, a partner at Covington & Burling:

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  Monday, 14 Feb 2011 | 10:42 AM ET

How to Eliminate the Mortgage Interest Subsidy Without Raising Taxes

Posted By: John Carney
Mortgage application
Mortgage application

President Barack Obama unveiled his $3.73 trillion spending blueprint today. It promises $1.1 trillion in deficit savings over the next decade through spending cuts and tax hikes, including slashing the mortgage interest deduction for Americans already paying the top tax rates.

It’s good that Obama has put the mortgage interest deduction on the table. This is a huge housing subsidy that severely distorts the economy. But Obama doesn't go far enough. The mortgage interest deduction should be eliminated altogether.

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  Monday, 14 Feb 2011 | 8:48 AM ET

President Obama Proposes $1.1 Billion in Budget Cuts—and the Debate Begins

Posted By: Ash Bennington

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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