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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.

» Read More
  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.

» Read More
  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
  Tuesday, 25 Jan 2011 | 2:23 PM ET

Is Gold Breaking Down?

Posted By: Lori Spechler
Gold
Diamond Sky Images | Photodisc | Getty Images
Gold

Futures trading down to its lowest level in about 3-months has market watchers asking if this is the end of the big bull run in gold?

» Read More
  Tuesday, 25 Jan 2011 | 2:05 PM ET

Solutions to Cleaning up Corporate Boards 

Posted By: Lori Ann LaRocco

The bad decisions made by some of "Wall Street's finest" during the financial crisis are still being felt. Today the Securities and Exchange Commission will be meeting to consider implementing parts of the Dodd-Frank bank-reform law—including the all important shareholder votes on executive compensation.

CEO compensation becomes a hot topic at the end and the beginning of every year. Its especially juicy when a CEO gets a golden parachute that makes you so mad that you, yourself, could fail your way up to a fortune.

But the anger and disgust should not just be directed to the corner office. The boards should also be looked at. We all know boards are not perfect, so what needs to be done to make sure its not a bunch of golf buddies around a table? I decided to speak again with Sydney Finkelstein, Steven Roth Professor of Management at the Tuck School of Business at Dartmouth College.

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  Tuesday, 25 Jan 2011 | 1:23 PM ET

Bear Stearns Accused of Double-Dipping on Bad Mortgages

Posted By: John Carney
Tom Grill | Photographer's Choice RF | Getty Images

Court papers that JPMorgan Chase fought to keep under seal claim that former Bear Stearns mortgage executives who now run mortgage divisions of Goldman Sachs and Ally Financial cheated and defrauded investors in mortgage-backed securities.

Teri Buhl has some of the colorful details :

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  Tuesday, 25 Jan 2011 | 12:36 PM ET

'Austerity': The Coming Debate in England—and Beyond

Posted By: Ash Bennington
Euro bills
AP
Euro bills

The question of 'austerity' represents a fundamental schism in worldview among economists.

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  Tuesday, 25 Jan 2011 | 11:44 AM ET

Bank of America’s Countrywide Accused of “Massive Fraud”

Posted By: John Carney
A Bank of America trader inside the NYSE.
Oliver Quillia for CNBC.com
A Bank of America trader inside the NYSE.

The acquisition of Countrywide Financial by Bank of America is the grift that keeps on grifting.

Yesterday a dozen or so insurance companies that invested in Countrywide mortgage-backed securities from 2005 to 2007 filed a lawsuit accusing the mortgage lender of “massive fraud.”

Bloomberg gives some background :

» Read More

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    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

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