Thursday, 27 Jan 2011 | 4:56 PM ET

Rachel Sterne Takes New York

Posted By: Lori Spechler
Rachel Sterne
Rachel Sterne

Did NYC just buy an $115,000 marketing campaign?

If you follow the blogosphere, you’ve probably already heard some of the buzz about Rachel Sterne, the newly minted Chief Digital Officer (CDO) for the City of New York.

From the straight ahead article on WNYC.org “The Woman Upgrading Bloomberg’s Government: Rachel Sterne ” to the slightly more spicy article on The Observer, “Everybody Calm Down About Rachel Sterne, For Chrissakes ” \), people—or at least the press--seem duly interested in the first paid CDO for a major city.

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  Thursday, 27 Jan 2011 | 4:32 PM ET

What Do You Have To Do To Get Fired By The FBI Anyway?

Posted By: Ash Bennington
Digital Vision | Photodisc | Getty Images

Apparently, it takes a lot to get fired by the FBI.

Here is a list of a few things that will not, according to a CNN report , get you fired—if you work for The Federal Bureau of Investigations:

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  Thursday, 27 Jan 2011 | 3:14 PM ET

FCIC Dissent Shows Why The Market Underpriced Mortgage Risk

Posted By: John Carney
Martin Poole | Stockbyte | Getty Images

Another important insight from Peter Wallison’s must-read dissent from the FCIC report released today is that government policies created an artificial demand for risky mortgages—leading to a severe underpricing of risk.

Here’s how it worked. Beginning in the early 1990s, government regulations made FHA, Fannie and Freddie, mortgage banks and commercial banks of all kinds into highly motivated buyers of risky mortgages. What happened next was disaster.

Here’s an excerpt from the report :

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  Thursday, 27 Jan 2011 | 2:50 PM ET

How The Government Destroyed Fannie Mae And Freddie Mac

Posted By: John Carney
Peter Gridley | Photographer's Choice | Getty Images

Peter Wallison more or less demolishes the conventional wisdom —and now the official Federal Crisis Inquiry Commission view—when it comes to the collapse of Fannie Mae and Freddie Mac.

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  Thursday, 27 Jan 2011 | 2:34 PM ET

College Freshmen: Life Sucks

Posted By: Ash Bennington
Image Source | Getty Images

College freshmen are more miserable than they have been in 25 years.

That's not an opinion: The New York Times is reporting this, based on new survey of more than 200,000 college students.

Here's what you need to know:

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  Thursday, 27 Jan 2011 | 1:21 PM ET

The Scary Side of Obama as America's CEO

Posted By: John Carney
President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.
Saul Loeb | AFP | Getty Images
President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.

My baby brother Tim Carney has some good insight into Pres. Obama's approach to economics.

It's not a turn toward the center. It's not a pro-business pivot. It's certainly not a "prayer to free markets" (as Rachel Maddow put it).

So what is it? Here's Tim :

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  Thursday, 27 Jan 2011 | 12:07 PM ET

How to Fix Mortgage Lending: Rein in The Regulators

Posted By: John Carney

Over at Barry Ritholtz’s “The Big Picture,” Bill Black has been publishing a series of posts on how mortgage lending should be regulated. Black, who is the author of “The Best Way to Rob A Bank Is to Own One,” does an admirable job at pointing out how pervasive fraud arises and undermines market discipline.

Unfortunately, his proposals for changing the mortgage lending system to counter fraud just won’t work.

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  Thursday, 27 Jan 2011 | 11:19 AM ET

Wall Street To New York: Stop Whining, 19 Inches Ain't So Bad

Posted By: Ash Bennington
Getty Images

Wall Street pretty much shrugged off the blizzard.

If you set your alarm an hour early, put on a pair of gloves—and sucked up the pain—you probably made it in to work just fine. That seems to be the consensus opinion of those who didn't use the weather as an excuse to sleep in an extra hour.

When I asked BlackRock if they had any special operating procedures in place, due to the storm, a spokesperson said: "Nope: We're here!"

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  Thursday, 27 Jan 2011 | 10:32 AM ET

Gary Luquette: The Industry in The Gulf is on Life Support

Posted By: Lori Ann LaRocco

The Senate Energy and Natural Resources Committee kicked off their first hearing of the new Congress with one of the most controversial topics in the energy sphere: the safety of deep water drilling. The committee examined the report and recommendations issued by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling.

I decided to sit down and speak with Gary Luquette, President of Chevron's North America ExplorationandProduction , on his thoughts on the hearing and the impact the unofficial moratorium is having on the industry.

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  Thursday, 27 Jan 2011 | 9:52 AM ET

Davos Wives Versus Davos Mistresses Versus Aspiring Davos Mistresses

Posted By: John Carney
Sam Bassett | Riser | Getty Images

The single best column out of Davos this year has to be Anya Schiffrin’s piece titled “Jealous Davos Mistresses .”

Schiffrin, who is the wife of Joseph Stiglitz, describes the caste system created by the nametags handed out to attendees at the Davos World Economic Forum.

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