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  Wednesday, 26 Jan 2011 | 11:34 AM ET

Side Running: A Time-Honored Wall Street Tradition

Posted By: John Carney
The Merrill Lynch bull logo inside the New York Stock Exchange.
Photo: Oliver Quillia for CNBC.com
The Merrill Lynch bull logo inside the New York Stock Exchange.

The Wall Street Journal has a great write-up of the SEC case against prop traders at Merrill Lynch, who are accused of copying trades from client orders.

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  Wednesday, 26 Jan 2011 | 9:30 AM ET

Why Aren't These People More Freaked Out?

Posted By: John Carney

So the other day, a door on a Metro North train randomly opened somewhere between 125th Street and Grand Central Terminal. The morning commuters, terrifyingly, were unphased.

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  Wednesday, 26 Jan 2011 | 8:57 AM ET

President Talks Jobs, Recovery, and Deficits

Posted By: Ash Bennington

Global Competitiveness at Center of State of the Union [Wall Street Journal] "President Barack Obama used his State of the Union address Tuesday to ask the nation to meet the challenges of a global economy, framing what he called a competitiveness agenda that includes traditional Democratic proposals like increased education spending, alongside gestures to Republicans seeking deep budget cuts. Mr. Obama said the nation needs to address its rising budget deficit but couldn't afford to back away from new spending on programs that he said would allow the U.S. to compete with rising powers like China and India—an approach Republicans were quick to reject as unaffordable. Mr. Obama also laid out areas of potential cooperation between the parties, such as a call to rewrite the corporate tax code."

President Talks Jobs, Recovery, and Deficits [NY Times] "President Obama challenged Americans on Tuesday night to unleash their creative spirit, set aside their partisan differences and come together around a common goal of outcompeting other nations in a rapidly shifting global economy. In a State of the Union address to a newly divided Congress, Mr. Obama outlined what he called a plan to “win the future” — a blueprint for spending in critical areas like education, high-speed rail, clean-energy technology and high-speed Internet to help the United States weather the unsettling impact of globalization and the challenge from emerging powers like China and India. 'The rules have changed,' he said. But at the same time he proposed budget-cutting measures, including a five-year freeze in spending on some domestic programs that he said would reduce the deficit by $400 billion over 10 years."

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  Wednesday, 26 Jan 2011 | 8:38 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

No more waiting for Wednesday, you Lisa Loeb fan you. Here's what you may have missed while you were out celebrating the first SOTU of 2011 into the wee morning hours:

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  Tuesday, 25 Jan 2011 | 4:44 PM ET

SEC Votes for Shareholder's 'Say on Pay'

Posted By: Ash Bennington

Blackrock Profits Double on Rising Asset Prices [Financial Times] "BlackRock, the world's largest money manager, more than doubled earnings in the fourth quarter as rallying markets lifted assets under management. Boosted by the $13.5bn takeover of Barclays Global Investors in late 2009, BlackRock reported earnings well ahead of Wall Street expectations. Net income jumped from $256m in the fourth quarter of 2009 to $657m in the last three months of 2010 as revenues rose from $1.54bn to $2.49bn."

SEC Votes for Shareholder's 'Say on Pay' [Business Week via Bloomberg] "The U.S. Securities and Exchange Commission gave shareholders the right to weigh in on pay packages for top executives to increase scrutiny of compensation practices blamed for fueling Wall Street risk-taking. SEC commissioners voted 3-2 today to enact the say-on-pay measure that will subject compensation plans to non-binding shareholder votes as often as once a year. The proposal is part of the agency's rulemaking under the Dodd-Frank Act."

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  Tuesday, 25 Jan 2011 | 4:32 PM ET

CEO Guest List For State of the Union Hints at Tax Reform

Posted By: John Melloy
President Barack Obama
Getty Images
President Barack Obama

Among those sitting in the box with First Lady, Michelle Obama, for the President’s State of the Union speech tonight will be Wendell Weeks, chief executive of glass maker Corning , an iconic American exporter that garners nearly three-fourths of its sales overseas. A mention by the President of a temporary holiday on the 35 percent repatriation tax for multinationals surely would get Weeks on his feet.

It might also add give reason for Ursula Burns, CEO of another classic American company, Xerox , to cheer because her company gets nearly half of its profits from overseas. GE CEO Jeff Immelt, who was just named chair of the President’s council on jobs, runs a company which has 54 percent in foreign sales, according to data gathered by Strategas Research.

While the President certainly won’t lead his speech with a corporate tax break proposal, investors and pundits ready to read between the lines tonight believe Obama may hint at some sort of corporate tax “reform.” An obvious first step in that direction would be a relaxation of this repatriation tax because the President could spin it as a way to bring more cash home for companies to build plants and hire workers. » Read more on Behind The Money

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  Tuesday, 25 Jan 2011 | 4:15 PM ET

The Case Against Austerity

Posted By: Ash Bennington
Demonstrators block a police car on the parking lot of the Madrid transport bus company during the general strike held in whole Spain in Madrid as unions launched a 24-hour general strike all around Spain to protest tough government labor reforms and austerity measures.
Josep Lago | AFP | Getty Images
Demonstrators block a police car on the parking lot of the Madrid transport bus company during the general strike held in whole Spain in Madrid as unions launched a 24-hour general strike all around Spain to protest tough government labor reforms and austerity measures.

The companion piece to my earlier Case for Austerity — in light of today's dismal economic data from the UK.

Perhaps the strongest argument in favor of fiscal stimulus—and against austerity—is history itself: Specifically, the double dip ravages of the worst economic crisis in living memory—The Great Depression.

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  Tuesday, 25 Jan 2011 | 3:48 PM ET

The Greatest Internet Scam Ever

Posted By: John Carney

Nicholas Carlson points out that the overwhelming portion of AOL’s profits come from selling people internet access they don’t need.

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  Tuesday, 25 Jan 2011 | 3:12 PM ET

The Case for Austerity: A Primer

Posted By: Ash Bennington

The dismal economic data from the UK today prompted me to discuss the 'austerity debate' in my last post .

Here's a primer on the case for austerity.

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  Tuesday, 25 Jan 2011 | 2:51 PM ET

Meredith Whitney Gets Dissed Again

Posted By: Cadie Thompson

Meredith Whitney's dismal prediction for municipality defaults is wrong and Whitney should probably do some more homework on the muni bond market, said Suzanne Shank, CEO and co-founder of Sibert Brandford Shank & Co, a municipal investment bank.

»Read more

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  • Jeff Cox is finance editor for CNBC.com.

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    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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