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  Tuesday, 1 Mar 2011 | 1:41 PM ET

Did the Europeans Just Invent a New Government Backed Derivative?

Posted By: Ash Bennington
M. Lorden | Taxi | Getty Images

The chief executive of the European Financial Stability Facility has written a letter to the Financial Times to explain why EFSF bonds are not CDOs.

CDOs, or collateralized debt obligations, are a type of structured financial product that is funded by payments made from bonds or other fixed-income securities. CDOs typically have multiple tranches, which represent different payment priorities. \(For example, junior tranches of the CDO would get paid after senior tranches. Junior tranches, therefore, would pay higher rates of interest to compensate investors for their additional risk.\)

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  Tuesday, 1 Mar 2011 | 1:29 PM ET

Goldman Ex-Director Insider Trading Charges May Solve Long-Running Market Mystery

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.

The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant,provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used the inside information to trade on behalf of hedge funds controlled by his company, Galleon. \(Click here to read the breaking news story from CNBC.com.\)

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  Tuesday, 1 Mar 2011 | 12:05 PM ET

Ex-Goldman Director Accused Of Leaking Inside Information

Posted By: CNBC.com
Rajat Gupta
Eric Piermont | AFP | Getty Images
Rajat Gupta

A former board member of Goldman Sachs was accused by the SEC of providing inside information about the investment bank—including its earnings and a pending investment by Berkshire Hathaway— to Galleon hedge fund founder Raj Rajaratnam.

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  Tuesday, 1 Mar 2011 | 11:24 AM ET

US Company Close to Deal to Buy UK's Second Largest Electricity Generator

Posted By: Lori Ann LaRocco

U.S. energy supplier PPL Corp is close to a $6 billion cash deal to buy the UK electricity grid distribution business of E.ON AG, according to a person close to the deal.

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  Tuesday, 1 Mar 2011 | 11:08 AM ET

Prop Trading Moves Down the Hall at JPMorgan

Posted By: Ash Bennington
Getty Images

JPMorgan is moving its proprietary trading unit out of its investment banking division and into its asset management division.

The Journal reports on the current state of affairs:

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  Tuesday, 1 Mar 2011 | 10:20 AM ET

Organization for International Investment: Foreign Direct Invest Is on the Rise Again

Posted By: Lori Ann LaRocco

The deal between the Deutsche Boerse and the NYSE Euronext will be reviewed by The Committtee on Foreign Investment in the United States (CFIUS) and while insiders expect the deal to go through since it approved the Nasdaq OMX and Borse Dubai deal, the concerns about "national security" continue to be tossed around.

U.S. Subsidaries play an important role in the U.S. economy, some five percent of all jobs are created by them. I decided to ask Nancy McLernon President and CEO of the Organization for International Investment which represents U.S. subsidiaries, about her outlook on this merger and why U.S. Subsidaries are kicking up more cash to have a slice of American business.

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  Tuesday, 1 Mar 2011 | 9:33 AM ET

Uh Oh: Mark Zandi Just Said There Is 'Zero' Chance of a Major Muni Default

Posted By: John Carney
Photo by: John Carney

Just when I was starting to feel less worried about the municipal bond market, along comes Mark Zandi.

Bloomberg reports :

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  Tuesday, 1 Mar 2011 | 9:08 AM ET

Morgan Stanley Hacked?!

Posted By: Julia La Roche

"Middle East in Crisis: a Worst-Case Scenario" [CNBC.com's Patrick Allen]

US approves first deepwater oil drilling permit since BP oil spill [NYTimes]

Morgan Stanley hacked?! [Bloomberg]

What's Twitter really worth? [CNBC's Herb Greenberg]

European Court of Justice says men are not worse than women drivers [Reuters via CNBC.com]

Check out "Five Things We're Watching: March 1, 2011" [CNBC's Nik Deogun, Matt Levine]

Feeling a little low? Maybe you need to visit the world's first naked (yes, really naked) therapist [The Daily]

»Read more
  Tuesday, 1 Mar 2011 | 8:44 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

So, this time next week, I will be a year older, but probably not a year wiser—just a week wiser. Here’s what I learned while you were working on REM sleep:

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  Monday, 28 Feb 2011 | 4:47 PM ET

Collect Call From Mr. Madoff: Will You Accept the Charges?

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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