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  Wednesday, 13 Oct 2010 | 8:55 AM ET

JP Morgan Chase Earnings: Bad News For Wall Street

Posted By: John Carney
Although JP Morgan Chase beat analysts estimates this morning, the details of the latest quarterly report are bad news for Wall Street. »Read more
  Wednesday, 13 Oct 2010 | 8:51 AM ET

Siebert: Shedding Light On the Dark Pools

Posted By: Lori Ann LaRocco
What will the midterm elections mean for Wall Street? »Read more
  Wednesday, 13 Oct 2010 | 8:27 AM ET

Deflation: Looming Disaster for Banks?

Posted By: Ash Bennington
A roundup of the morning headlines. »Read more
  Tuesday, 12 Oct 2010 | 4:45 PM ET

Don't Hate Us For This, Erin...

Posted By: Ash Bennington

CNBC's Olick: Foreclosure Gate May Be Worse Than Lehman (CNBC)

Fed still wrestling with issues ahead of its Nov 2-3 meetings (NY Times)

Anatomy of a documentation disaster (Financial Times... flow charts included)

Casting in for big screen Too Big to Fail. (Clusterstock.... Highlight: James Woods as Dick Fuld.)

Tech stocks at bargain basement prices (CNBC via Reuters)

Halted with righteous indignation, deep water drilling makes quiet return (NY Times)

Why foreclosure fraud threatens property rights (The Big Picture)

FASB revises debt restructuring rules (CNBC.com)

Complexities of foreclosure fraud got you down? Fear not: Mike at Rortybomb has your back. His five part primer is clearly written and covers the entire sordid mess -- from origination to the inevitable cavalcade of lawsuits:

Part I - Part II - Part III - Part IV - Part V


Don't hate us for this, Erin: we thought it was adorable (Mediaite)

»Read more
  Tuesday, 12 Oct 2010 | 3:54 PM ET

On the Buy Side

Posted By: Stephanie Landsman, Producer for "Squawk Box"

They survived the financial Armageddon of 2008 with their careers, finances, and houses intact. So the question is: are the good times rolling again?

Man shopping for clothes
UpperCut Images | Getty Images
Man shopping for clothes

Before firms dole out holiday bonuses, we're taking a look at how a some leading strategists and money managers are budgeting. What they've bought, what they've held, and how generous they plan to be. Our roster today includes a Pimco portfolio manager, a president of a high net worth investment firm, and the chief economist of an institutional trading firm.

» Read More
  Tuesday, 12 Oct 2010 | 3:43 PM ET

FOMC Minutes Released -- Delphic Discussions on the Future Direction of QE

Posted By: Ash Bennington

Earlier this afternoon, The Federal Reserve Board released minutes from a Committee meeting held on September 21, 2010. Summary and excerpts follow:

Economic Situation

Overall economic picture: economic expansion slowed, inflation stayed low.

"The information reviewed at the September 21 meeting indicated that the pace of the economic expansion slowed in recent months and that inflation remained low. Private bus

Getty Images

inesses increased employment modestly in August, but the length of the workweek was unchanged and the unemployment rate remained elevated. Industrial production advanced at a solid pace in July and rose further in August. Consumer spending continued to increase at a moderate rate in July and appeared to move up again in August. The rise in business outlays for equipment and software looked to have moderated recently following outsized gains in the first half of the year. Housing activity weakened further, and nonresidential construction remained depressed. After falling in the previous three months, headline consumer prices rose in July and August as energy prices retraced some of their earlier decline while prices for core goods and services edged up slightly."

Economic Situation

Overall economic picture: economic expansion slowed, inflation stayed low.

"The information reviewed at the September 21 meeting indicated that the pace of the economic expansion slowed in recent months and that inflation remained low. Private bus

» Read More
  Tuesday, 12 Oct 2010 | 2:44 PM ET

Eavesdropping On Lloyd Blankfein (Maybe)

Posted By: John Carney

So was Goldman Sachs CEO Lloyd Blankfein trashing Tim Geithner in a Manhattan restaurant recently?

Goldman Sachs CEO Lloyd Blankfein
Getty Images
Goldman Sachs CEO Lloyd Blankfein

Earlier today, Bess Levin of DealBreaker revealed that one of her sources was sitting next to a Wall Street chief executive at dinner. The source overheard four bits of information. But Bess is playing coy and not revealing who the chief executive is.

Well, we think it's probably Blankfein. First, we'll give you the email from the DealBreaker source, followed by our rationale for pinning the tale on the Blankfein.

» Read More
  Tuesday, 12 Oct 2010 | 2:42 PM ET

The End Of Equity: All Cash M&A Deals More Than Doubled In A Decade

Posted By: Ash Bennington

Over the last ten years, the percentage of M&A deals done with all cash has more than doubled, from 13.9% in 2000 to 29% in 2010.

Negotiating Pay
CNBC.com
Negotiating Pay

And those numbers are not being distorted by a rising share of cash deals in a declining M&A deal market either: Over the same period, the total number of M&A transactions done all cash also more than doubled — rising from 1,393 in 2000 to 2,799 in 2010. \(For those of you scoring at home, that would bring the total number of M&A deals in 2000 to just over 8000, and the total number of M&A deals in 2010 to about 9650.\)

» Read More
  Tuesday, 12 Oct 2010 | 1:33 PM ET

Has Congress Been Scared Straight On Insider Trading?

Posted By: John Carney

As a follow-up to yesterday’s Page One Wall Street Journal story about possible insider trading by Capitol Hill Staffers, the WSJ’s Deal Journal tracked down the professor whose 2004 study started the controversy over political insider trading.

A bit of background. It had been suspected for years that lawmakers engaged in insider trading. Anecdotally, there were plenty of stories about lawmakers going long stocks that might benefit from legislation or shorting stocks that could be hurt.

But In 2004, Alan Ziobrowski concluded several years of study with a report that found stock picks by US Senators beat the market by about 12 percent each year, while regular folks underperformed the market by about 1.4 percent.

The implication was that either we had elected a bunch of really good stock pickers to the Senate or the Senators were front-running legislation or trading on information they learned in their capacity as lawmakers. Since not many Senators leave to become hedge fund managers, it seems pretty clear it’s not their stock picking prowess that explains the results.

» Read More
  Tuesday, 12 Oct 2010 | 11:58 AM ET

Has The Foreclosure Crisis Already Triggered A Double Dip?

Posted By: Lori Ann LaRocco

Foreclosure Gate dominates the headlines.

But for Jim Rickards and Chris Whalen none of this is very surprising. Rickards and Whalen, the Senior Managing Director of Market Intelligence at Omnis, and Co-Founder and Managing Director of Institutional Risk Analystics respectively, sounded the alarm about the foreclosure crisis in this very column on September 29th.

I tossed out the question that an economic tusunami warning was being sounded and if bank investors were listening. I guess I should have added Congress and State Attorney Generals.

Since I last spoke with them, there is movement to halt all foreclosures. But is this a knee jerk over-reaction lead to more harm than good to the ailing real estate market? I decided to ask both Rickards and Whalen.

» 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."

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