John Carney covers Wall Street and finance for CNBC.com, where he runs NetNet, the go-to blog to get the low-down and the high jinks of Wall Street.
Carney joined CNBC in 2010 after serving as managing editor of Business Insider's Wall Street and economics section. Prior to that he was editor in chief of DealBreaker.com, a Wall Street online tabloid.
His writing has appeared in The Wall Street Journal, The New York Times, The New York Sun, Page Six Magazine, the New York Post, Fortune, Gawker and New York magazine.
He is a frequent guest on CNBC's "Power Lunch" and public radio′s "Marketplace." His writing often takes controversial positions on business topics. He has argued, for example, that failed banks should not be bailed out, that Lehman′s collapse was not a disaster and that insider trading should be legal.
Carney received a law degree from the University of Pennsylvania and practiced corporate law at firms such as Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins. He primarily represented banks, hedge funds and private equity firms.
Follow John Carney on Twitter @Carney.
The idea of decriminalizing insider trading—and perhaps even removing some of the securities regulation rules that impose civil sanctions on insider trading—is finally becoming respectable.
Although deal volume is still running at less than half of the 2007 peak of nearly $1 trillion, M&A is making a comeback this year. A good portion of the growth has come not from the headline grabbing mega-mergers but from middle market deals ranging from $50 to $500 million, according to the independent research firm Accordion Partners.
When the pilgrims who came to Plymouth they initially established a system of holding all property in common, pooling the proceeds from their hunting and farming. The predictable results of this small scale socialism ensued, producing corruption, famine and death, because the colonists lacked incentives to work.
James Altucher describes one of the alleged insider trades made by Galleon:
“They could have just as easily come in before hours and gotten what they wanted,” said an employee at Diamondback Capital Management. “Why did this have to be in a dramatic, Hollywood manner?”
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