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  Tuesday, 18 Jan 2011 | 12:53 PM ET

Email of the Week: NetNet as a Contrarian Indicator

Posted By: John Carney
Rose | Mueller | Stock4B | Getty Images

A reader by the name of "Jim K." writes in to comment on our coverage of the banking sector. He's a bull who is really hoping we don't change our bearishness.

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  Tuesday, 18 Jan 2011 | 12:07 PM ET

Tim Pawlenty: Congress Is Sitting on Top of a Ponzi Scheme

Posted By: Lori Ann LaRocco
Tim Pawlenty
Getty Images
Tim Pawlenty

Former Republican Minnesota Governor Tim Pawlenty may not have officially announced his candidacy for President but the Governor is busy laying out his plan on how to cut the government spending.

Pawlenty is advocating legislation that would block any attempt to raise the debt ceiling, while putting in place a rule prioritizing spending so that the US wouldn't default on its debt when the ceiling is hit.

I spoke with him on this fiscal measure and what the country needs to do before Uncle Sam drives off the fiscal cliff.

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  Tuesday, 18 Jan 2011 | 12:04 PM ET

Does Medical Leave Pose An Ethical Challenge For Steve Jobs?

Posted By: Lori Ann LaRocco

Apple shareholders got a shock Monday.

While the U.S. markets were closed for the Martin Luther King Jr. holiday, Steve Jobs sent a letter to his employees saying he was taking a medical leave of absence but was still retaining his title of CEO. Chief Operating Officer Tim Cook would again be responsible for the day to day activities.

His leave begs the question again of transparency and disclosure. Just how much should the company disclose to its shareholders on their CEOs health and when does disclosing too much breach Jobs' privacy? I decided to ask Bruce Weinstein, BusinessWeek.com's Ethics Columnist those questions.

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  Tuesday, 18 Jan 2011 | 12:02 PM ET

Eurozone Policy: Still a Work in Progress?

Posted By: Ash Bennington
Euro bills and coins
AP
Euro bills and coins

What exactly is the balance of supranational versus national monetary policy in the Eurozone?

It's an excellent question: And, if the ongoing policy parsing over Ireland is any indications, it's an issue that's far from closed.

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  Tuesday, 18 Jan 2011 | 11:49 AM ET

Get Ready For Another Housing Crash

Posted By: John Carney
Foreclosure
Fuse | Getty Images
Foreclosure

The best evidence that we're headed for a double-dip in housing is the quality of the mortgages during the recent period in which the housing market seemed to improve in many areas.

In the Freddie Mac review of Citigroup’s performing loans that I mentioned earlier today, the portion rated as “Not Acceptable Quality” was as high as 32 percent in the fourth quarter of 2009. While this has obvious implications for the repurchase or "put-back" liability of Citigroup , it also has broader implications for the housing market and the economy.

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  Tuesday, 18 Jan 2011 | 11:12 AM ET

Did Goldman Just Admit That It Leaked The Facebook Offering?

Posted By: John Carney
Goldman Sachs
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Goldman Sachs

While the news that Goldman Sachs is restricting its Facebook investment fund to investors outside the US is already prompting cries that US securities regulations have become perverse, the media seem to be missing an important part of this story. It seems fairly likely that Goldman has discovered—or fears the government will discover—that the news of the proposed $1.5 billion Facebook fund came from within Goldman Sachs itself.

Andrew Ross Sorkin, who broke the news of Goldman's investment and fund with Susan Craig, explains why Goldman now believes it must restrict its offering to non-US investors:

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  Tuesday, 18 Jan 2011 | 11:11 AM ET

Looking for a New Theme for Your Nightmares:Try Smallpox

Posted By: Ash Bennington
Biochemical Warefare Masks
Getty Images
Biochemical Warefare Masks

Smallpox is the only disease in human history to be eradicated through vaccination. So why on earth would anyone want to maintain disease stocks of the horrible virus in laboratories? In a word: Bioterrorism.

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  Tuesday, 18 Jan 2011 | 9:43 AM ET

Citi Still Churned Out Flawed Mortgages Into 2010

Posted By: John Carney
Citigroup Building
Getty Images
Citigroup Building

The assumption that big banks stopped selling defective mortgages to Fannie Mae and Freddie Mac after the housing bubble burst is wrong.

That's the clear message from a study by Freddie Mac of hundreds of mortgages sold to the government-owned mortgage giant in 2009 and 2010.

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  Tuesday, 18 Jan 2011 | 8:42 AM ET

China's Lending Binge

Posted By: Ash Bennington

Citi Misses [CNBC] "Citigroup posted a quarterly profit but missed analyst estimates as revenues from securities and banking operations weakened. The company's net income was $1.3 billion and total revenue for the quarter was $18.4 billion"

"Success Questions at Apple after Jobs's Latest Medical Leave" [Wall Street Journal] "Steve Jobs's latest medical leave from Apple Inc. renews questions about the depth of the company's executive bench. In the near term, there's little doubt the Cupertino, Calif., company can be run ably by Chief Operating Officer Tim Cook, who has successful"

China's Lending Binge [Financial Times] "China has lent more money to other developing countries over the past two years than the World Bank, a stark indication of the scale of Beijing’s economic reach and its drive to secure natural resources."

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  Tuesday, 18 Jan 2011 | 7:17 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

I know you feel good after celebrating the life, legacy and day off MLK gave us. Here's what you missed while you were re-reading the "I have a dream" speech into the wee hours of the morning and need to know to channel those good-vibes into powering through this 4-day week:

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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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