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  Monday, 20 Sep 2010 | 9:05 AM ET

Global Regulators Hit Pause On Greek Banking Solvency Tests

Posted By: Ash Bennington

Déjà Vu All Over Again: Re-Inflating The Credit Bubble? \(Wall Street Journal\) As investors suck up debt, yields fall. But has anyone bothered to read the indentures?

»Read more
  Monday, 20 Sep 2010 | 8:51 AM ET

Note to Institutions: I Can Save You $600 Million

Posted By: James Altucher, founder and managing partner at Formula Capital

I was talking to a friend of mine who used to work for former hedge fund manager, Bernie Madoff (he was a market maker on the legitimate market-making side of the business).

"Are hedge funds dead?" I asked him.

"Of course not," he said. "With the current volatility and 0% interest rates you have to have your money in the game."

In fact, hedge fund total assets at $2 trillion are now higher than their pre-2008 levels.

But here’s my problem, I explained to him.

» Read More
  Friday, 17 Sep 2010 | 5:12 PM ET

Hedge Fund Managers Set Up for Next Acts

Posted By: John Carney
  Friday, 17 Sep 2010 | 4:38 PM ET

A Brush With Billions

Posted By: Elizabeth Gerst

The flash downpour that whipped through Manhattan Thursday night did not dampen the mood in Chelsea, where hundreds of revelers toasted the 50th anniversary of the Pace Gallery.

Chuck Close, Arne Glimcher, and Milly Glimcher
Photo: Billy Farrell Agency
Chuck Close, Arne Glimcher, and Milly Glimcher

Against a backdrop of works by Warhol and Mondrian, legendary artists such as Chuck Close, Jim Dine, and Claes Oldenberg \(all of whom are represented by the gallery\) greeted longtime collectors, including billionaires Eli Broad and Estee Lauder Chairman Emeritus Leonard Lauder. A quick calculus of the room \(both the artwork and the net worth of those in it\) yielded a tally well over $10 billion.

» Read More
  Friday, 17 Sep 2010 | 3:42 PM ET

Kanjorski Finally Set for a Fall?

Posted By: Jeff Cox

The third time may well be the proverbial charm for Lou Barletta and his quixotic bid to unseat veteran Democratic Rep.Paul Kanjorski.

Sen. Paul Kanjorski
Bill Clark | Roll Call | Getty Images
Sen. Paul Kanjorski

Kanjorski, the influential senior Financial Services Committee member and frequent “Squawk Box” guest on CNBC, is fighting nothing less than a legacy-challenging battle to keep his seat.

Kanjorski was instrumental in putting together this year’s financial reform legislation, particularly the areas that addressed the too-big-to-fail institutions that triggered the credit crisis. So his seat is a biggie in terms of the Washington governmental structure.

As a 13-term incumbent representing northeastern Pennsylvania, Kanjorski had been breezing through election after election until Barletta started challenging him in 2002.

» Read More
  Friday, 17 Sep 2010 | 3:07 PM ET

Irish Banking Troubles and Debt Problems Still Very Bad

Posted By: Cadie Thompson

The Irish have got a lot of things right... beer, scenery, accents. But they just can't seem to get their finances in order.

A Barclays note released Thursday, which proposed the government should consider some form of debt-for-equity swap with banks' debt holders, further rattled the country's troubled banking sector, which in-turn spurred the cost of insuring the country's sovereign debt to a record high. Ireland's 5-year credit default swap hit 425 basis point Friday.

And with rumors flourishing that Ireland may need to reach out to the European Union and the International Monetary Fund to help cover its debts, markets remain highly sensitive. » Read More at CNBC.com

»Read more
  Friday, 17 Sep 2010 | 12:45 PM ET

Kanjorski Bashes Fannie and Freddie's 'Reckless Risk-Taking'

Posted By: Lori Ann LaRocco

Uncle Sam's ugly, unmarriable children, Fannie and Freddie already have a mountain of misery and challenges and their problems are about to get bigger as signs of the softening real estate market and anticipated foreclosures are expected to climb and continue.

The troubled twins have already reclaimed nearly as many of the homes as they did in 2009 and the year isn't over yet.

Today I went across the aisle to speak with Rep. Paul Kanjorski \(D\) Pennsylvania, Chairman of the Capital Markets Subcommittee to ask him his solutions on what to do with Fannie and Freddie.

» Read More
  Friday, 17 Sep 2010 | 11:39 AM ET

Who Wants To Speculate On The Chinese Real Estate Bubble?

Posted By: John Carney

It's been years since I found myself staring agape at an IPO.

The IPO for SouFun Holdings opened at $67 this morning, after pricing 2,933,238 shares at $42.50. That was already thought to be the high end of the expected $40.50-$42.50 range. But SouFun blew right through those numbers.

» Read More
  Friday, 17 Sep 2010 | 10:08 AM ET

You've Got To Get In Their Face

Posted By: John Carney

Economics of Contempt offers some unsolicited advice for bank regulators:

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  Friday, 17 Sep 2010 | 8:17 AM ET

Elizabeth Warren Is A Blogger

Posted By: John Carney

Reluctant Realtors: Fannie, Freddie (Wall Street Journal) Talk about shadow inventory in the banking system. Fannie and Freddie own nearly 200,000 homes.

»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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