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  Monday, 7 Mar 2011 | 4:44 PM ET

How Do You Know the US Isn't Bankrupt?

Posted By: Ash Bennington
  Monday, 7 Mar 2011 | 4:13 PM ET

Why John Carney Is Wrong to Oppose a No-Fly Zone for Libya

Posted By: Ash Bennington
Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011
Mustafa Ozer | AFP | Getty Images
Demonstrators hold up a banner featuring Libyan leader Moamer Kadhafi reading 'Kadhafi is a murderer' as they stage a protest outside the Libyan embassy in Istanbul on February 21, 2011

My colleagueJohn Carney is half right in his opinion piece about Libya —and where he is wrong he is wrong for the best of reasons.

Carney has taken the position that a US enforced no-fly zone in Libya should be avoided in favor of offering Qaddafi the carrot of amnesty in exchange for his immediate departure from the country.

Here is the backbone of his anti-no-fly zone argument:

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  Monday, 7 Mar 2011 | 2:55 PM ET

Just Say No to a ‘No Fly Zone’ Over Libya

Posted By: John Carney
Libyans shout slogans against Libyan leader Moamer Kadhafi while holding a cartoon depicting Kadhafi being hit with a hammer symbolising 'the people's will'.
Gianluigi Guercia | AFP | Getty Images
Libyans shout slogans against Libyan leader Moamer Kadhafi while holding a cartoon depicting Kadhafi being hit with a hammer symbolising 'the people's will'.

Now that senior senators from both the Republican and Democratic parties are putting pressure on the Obama administration to put a “no-fly zone” in place over Libya, it’s incumbent that skeptics of this kind of belligerence speak out.

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  Monday, 7 Mar 2011 | 2:28 PM ET

The College Bubble Is Leaking

Posted By: John Carney

Last summer, Barack Obama promised a new education program that would produce 8 million more college graduates by 2020.

Few people at the time raised the obvious question: do we really need an additional 8 million college graduates? Where’s the evidence for a coming shortage of college educated workers?

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  Monday, 7 Mar 2011 | 1:38 PM ET

Bud Fox & Hunter S. Thompson

Posted By: Ash Bennington
Charlie Sheen as Bud Fox in "Wall Street"
Source: 20th Century Fox
Charlie Sheen as Bud Fox in "Wall Street"

There's a clever meme bouncing around cyberspace: It's an online quiz from New York Magazine.

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  Monday, 7 Mar 2011 | 12:31 PM ET

Did the SEC Open an Escape Hatch for Ratings Agencies?

Posted By: John Carney
Emergency Escape Hatch
Iconica | Juan Silva | Getty Images
Emergency Escape Hatch

Despite almost universal recognition that the failures of the credit ratings agencies to perceive and disclose the risk in asset-backed securities played a pivotal role in setting the stage for the financial crisis, they’re still an integral—and legally mandatory—part of our financial system.

They’re so influential, in fact, that they can effectively veto efforts to regulate them.

Recently the ratings agencies exercised their veto power over attempts to subject them to liability for faulty ratings.

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  Monday, 7 Mar 2011 | 11:41 AM ET

Ten People You Should Befriend on Wall Street

Posted By: Ash Bennington
Getty Images

A successful Wall Street career requires people skills. In the first place, you need to know who to avoid. Unfortunately, however, it’s not enough to avoid people. There are some people you absolutely have to make your allies.

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  Monday, 7 Mar 2011 | 10:39 AM ET

Happy Birthday to Me and YOU!

Posted By: Nicole Lapin
Philip J Brittan | Photodisc | Getty Images

Parties, presents, cake—these are the things that come to mind when most people think about birthdays. You don’t typically think of famine, disease, or oppression. But I would argue that it’s when we’re at our luckiest—one year older, one year wiser—that we should be thinking of those who aren’t so lucky.

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  Monday, 7 Mar 2011 | 9:39 AM ET

Guns N' Roses—and Money

Posted By: Ash Bennington
Duff McKagan
Duff McKagan

There are second acts in American life—and when former Guns N' Roses bassist Duff McKagan's pancreas exploded from years of drug and alcohol abuse in the mid-nineties it seemed like a good time to find one

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  Monday, 7 Mar 2011 | 8:43 AM ET

Greece Lashes Out at Moody's

Posted By: Julia La Roche

"Moody's Downgrades Greek Sovereign Debt by 3 Notches"[CNBC.com via Reuters]

Then...Greece Lashes Out at Moody's [Hellenic Republic Ministry of Finance]

Barclays Chief Awarded $11 Million Bonus [Bloomberg]

London Stock Exchange reportedly considering Nasdaq takeover bid, too. [Reuters]

"Ex-Lehman banker made number three at Nomura" [Financial Times]

"Sheen Is Surrounded by a Coterie of Enablers" [NYTimes]

»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."

Wall Street

  • A gas flare burns as Jim Zumwalt, a driver with Black Hills Trucking, monitors a water tank while loading saltwater from an oil well storage tank near Sidney, Montana.

    Oil trader Andy Hall has closed out his bearish bets on oil and is predicting a price recovery in crude sooner than many analysts expect.

  • A man at a gas station in Dellwood, Mo.

    As a result, expected improvements in sales data and economic growth in general have fallen short of the expectations.

  • Microsoft CEO Satya Nadella

    These tech names could be set to break out, and many of them are still below their 15-year-old, all-time highs.