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.

» Read More
  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:

» Read More
  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 :

» Read More
  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.

» Read More
  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!"

» Read More
  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.

» Read More
  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.

» Read More
  Thursday, 27 Jan 2011 | 9:43 AM ET

Here's The Video of Sean Parker You've Been Waiting For

Posted By: Kerima Greene

Sean Parker, Founders Fund LLC CEO and early Facebook investor, stops long enough to tell CNBC he doesn't have time to talk.

» Read More
  Thursday, 27 Jan 2011 | 9:00 AM ET

Trichet Goes Gansta' on Inflation: 'We Will Do What is Necessary'

Posted By: Ash Bennington

Jobless Numbers Worse Than Expected — Snow Blamed [Reuters via CNBC] "New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday. Initial claims for state unemployment benefits jumped 51,000 to a seasonally adjusted 454,000, the highest since late October, the Labor Department said. That was the largest weekly increase since September 2005. Economists polled by Reuters had expected claims to be little changed at 405,000."

NY Metro Area Slammed by Another Monster Storm [NY Post] The Big Apple was brought to a virtual halt early this morning by another monster storm — this one not only shutting area airports, but also closing city public schools and non-emergency government offices, as well as forcing the suspension of all buses citywide.

» Read More
  Wednesday, 26 Jan 2011 | 5:05 PM ET

Economy Not Improving Enough to End QE2

Posted By: Ash Bennington

Economy Not Improving Enough to End QE2 [CNBC] "The Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program. In a statement following its policy-setting meeting, the central bank also said measures of underlying inflation were "somewhat low" although it acknowledged rising commodity prices that have fueled global inflation worries."

Treasuries Dip as QE2 Sticks Around [Bloomberg] "Treasuries declined as Federal Reserve policy makers maintained a $600 billion program of debt purchases while saying the economic expansion is continuing at an insufficient pace to reduce unemployment. Government securities dropped earlier after a report showed sales of new homes rose more than forecast in December and the U.S. sold $35 billion of five-year notes. Ten-year Treasury Inflation-Protected Securities show bondholders expect the consumer price index to increase 2.26 percentage points a year on average over the life of the debt, compared with a forecast for an increase of 1.7 percent this year by economists surveyed by Bloomberg News."

» Read More

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."

Wall Street