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  Friday, 11 Feb 2011 | 6:51 PM ET

SEC Charges Former IndyMac CEO and CFO With Securities Fraud

Posted By: Ash Bennington

The Securities and Exchange Commission filed securities fraud charges against three former IndyMac executives—including the former CEO and two former CFOs of the company.

The SEC complaint alleges that the former IndyMac executives made false and misleading claims in the company's 2007 annual report—as well as in offering materials for a $100 million stock offering.

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  Friday, 11 Feb 2011 | 5:00 PM ET

How to Catch A Train in Burma

Posted By: John Carney
  Friday, 11 Feb 2011 | 3:32 PM ET

Don’t Look Now, but the Obama Administration Just Proposed Creating Fannie Mae All Over Again

Posted By: John Carney
CNBC

It’s welcome news that the Obama administration proposes to wind down the mortgage giants Fannie Maeand Freddie Mac.

Unfortunately, this news is coupled with something far less welcome—a proposal to recreate the government sponsored entities all over again.

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  Friday, 11 Feb 2011 | 2:54 PM ET

What's Worse Than Losing Egypt's Presidency? Answer: Losing $40 Billion

Posted By: Ash Bennington
Egyptian President Hosni Mubarak
Getty Images
Egyptian President Hosni Mubarak

The news for Hosni Mubarak keeps getting worse: First he loses power in Egypt—now the Swiss government has announced that Switzerland is freezing accounts belonging to Mubarak and his family.

Some believe Mubarak may lose up to $40 billion if things really go south for him.

That hypothetical involves two principal assumptions: First, an estimate of the Mubarak family's enormous wealth; second, that Egyptian protesters will get their way—and have corruption charges brought against the Mubarak clan, which will result in the disgorgement of substantial amounts of cash.

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  Friday, 11 Feb 2011 | 2:20 PM ET

Sizing Up Boot Sales

Posted By: Stephanie Landsman
Ugg Boots
Source: Chris Beckett
Ugg Boots

It appears boot sales aren't taking a hike anytime soon.

At a time when retailers are trying to create enthusiasm for Spring, the harsher than usual winter is creating the perfect storm for boot demand.

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  Friday, 11 Feb 2011 | 1:32 PM ET

Insider Trading Probe Shutters $4 Billion Hedge Fund

Posted By: John Carney

So the government has killed Level Global Investors LP.

This morning David Ganek sent a letter to investors in the $4 billion hedge fund announcing that it expects to sell all of its holdings by the end of March.

Ganek founded Level Global in 2003 with Anthony Chiasson. Both are alumni of Steven Cohen's SAC Capital Advisors.

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  Friday, 11 Feb 2011 | 12:53 PM ET

Field Marshal Tantawi Allegedly in Charge in Egypt—What's a Field Marshall?

Posted By: Ash Bennington
Egypt's Defence Minister Mohammed Hussein Tantawi
Khaled Desouki | AFP | Getty Images
Egypt's Defence Minister Mohammed Hussein Tantawi

After Hosni Mubarak's resignation, ZeroHedge is reporting that Field Marshal Mohamed Hussein Tantawi is in control of Egypt—though, possibly, on an interim basis.

Tantawi has been a commissioned officer in the Egyptian military since 1956, although he did not ascend to his current rank of Field Marshal until 1991.

What exactly is a field marshal?

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  Friday, 11 Feb 2011 | 12:38 PM ET

Muni Call Right, in That Meredith Whitney Kind of Way

Posted By: Jeff Cox
Meredith Whitney on Closing Bell
CNBC
Meredith Whitney on Closing Bell

When it comes to her call on municipal bonds, it seems that Meredith Whitney is likely to be right in that Meredith Whitney kind of way.

That’s to say that she’s correct figuratively but probably wrong literally.

Ever since the doom-saying banking analyst predicted a wave of defaults in municipal bonds she has been subject to severe backlash. Her critics have called her ill informed and a financial fish out of water, delving into an area in which she has no expertise nor serious data to back up her opinions.

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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.

» 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."

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