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  Monday, 28 Feb 2011 | 12:30 PM ET

What's Next for Goldman's Ruzika?

Posted By: Ash Bennington
Richard Ruzika
Source: columbia.edu
Richard Ruzika

News broke on Friday that Richard Ruzika, head of Goldman Sachs' Special Situations Group was 'retiring'.

At 51, Ruzika, a former precious metals commodities trader, seems a bit young to spend his days ambling along on a golf course.

Which may make you wonder: What's the story behind the scenes at Goldman Sachs?

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  Monday, 28 Feb 2011 | 11:36 AM ET

Diane Swonk: Most Clients Are Worried About Inflation

Posted By: Lori Ann LaRocco
NN_c_suite_200.jpg

We're looking at busy week in terms of gauging the health of the U.S. economy. Monday is Consumer spending. On Tuesday, Federal Reserve Chairman Ben Bernanke testifies before the Senate Banking Committee. Friday is the all important jobs number.

I caught up with Diane Swonk, Chief Economist at Mesirow Financial, and asked her about the economic headwinds facing the country and s her outlook on the Mid East turmoil.

» Read More
  Monday, 28 Feb 2011 | 10:41 AM ET

Nicole Lapin Has Bieber Fever!

Posted By: Nicole Lapin
Justin Bieber
Gabriel Bouys | AFP | Getty Images
Justin Bieber

First Nouriel Roubini called the financial meltdown at the hands of mortgage-backed securities. Then Meredith Whitney predicted the collapse of several of the nation’s biggest banks. And now: Justin Bieber speaking out about the muni market?

As Bieber himself would say, “Never say never.”

From Joe Queenan’s column :

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  Monday, 28 Feb 2011 | 9:48 AM ET

Gaddafi Wants to Abolish Switzerland

Posted By: Ash Bennington
Libyan leader Muammar Gaddafi
Getty Images
Libyan leader Muammar Gaddafi

Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.

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  Monday, 28 Feb 2011 | 9:30 AM ET

'Fed May Need to Take Break From Easing: Bullard'

Posted By: Cadie Thompson
NN_morning_call_200.jpg

JPMorgan Wants a Piece of the Twitter Action [FT via CNBC.com]

'Fed May Need to Take Break From Easing: Bullard' [CNBC.com]

Rodgers: Commodities Market=Win [CNBC.com]

Another Possible IPO: Looks like Glencore, the world's largest commodities trader,is considering an IPO[Reuters via CNBC.com]

Looks like Goldman is going to get the 'ok' to repay Berkshire [Bloomberg]

Financial Documentary 'Inside Doc' Wins Oscar, Film's Director Slams Wall Street Execs in Speech: “Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that’s wrong,” Charles Ferguson, the film's director, said at the beginning of his speech. [NYTimes]

Your Oscar Take-Away :

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  Monday, 28 Feb 2011 | 9:07 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin
lapin_waking_up_200.jpg

Remember, we're all working for the weekend—you just got paid and it felt great, right? Now, time to pay it forward! Here's what you missed while I got a jump start on my weekend fund.

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  Friday, 25 Feb 2011 | 4:39 PM ET

More Bad News on the Bonus Front, This Time at RBS

Posted By: Ash Bennington
  Friday, 25 Feb 2011 | 4:20 PM ET

Here's How We Get to Energy Independence

Posted By: Bradley P. Schaeffer
american_flag_oil_barrel_200.jpg
Henrik Weis | Lifesize | Getty Images

Respected columnist and author Thomas Friedman has been among the most audible voices in warning the USA about our dependency on foreign oil and our need to end our addiction to this commodity post haste. But his latest call for a $1.00 per gallon gasoline tax to curtail our fuel consumption, the proceeds of which would go towards deficit reduction, misses the mark.

First of all, where Mr. Friedman is absolutely correct is his concern itself which is well founded. Consider: in 1970 the USA imported 30 percent of its crude oil. That figure has effectively doubled in the last thirty years to just shy of 60 percent.

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  Friday, 25 Feb 2011 | 3:57 PM ET

The Threat to Corporate America from Union Shareholders

Posted By: John Carney
construction_worker_serious_200.jpg
Fuse | Getty Images

Proxy access is supposed to make corporate governance more democratic. But evidence from recent shareholder proposals suggests something very different is happening—labor unions are gaining more power.

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  Friday, 25 Feb 2011 | 3:11 PM ET

Signal & Noise in the Energy Markets

Posted By: Ash Bennington
oil_barrell_money2.jpg

Teasing out short term trading noise from durable economic news is tricky business.

As I wrote about earlier this morning, a ten dollar per barrel increase in oil price can have an equivalent economic effect of negating $120 billion in payroll tax cuts.

So what are we to make of it when we are treated to headlines such as this one , from the Associated Press: "As Oil Markets Calm, Shares on Wall Street Rise."

» Read More

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  • 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.

 

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