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  Wednesday, 30 Mar 2011 | 10:01 AM ET

BlackRock And Fidelity Are Ready To Bet Big On One Of Spain's Big New Savings Banks

Posted By: Gregory White, Business Insider
BlackRock headquarters
Mark Lennihan
BlackRock headquarters

BlackRock and Fidelity are both looking into investing in one of the new Spanish savings banks carved out of the country's troubled banking sector, according to Expansion .

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  Wednesday, 30 Mar 2011 | 9:16 AM ET

"Elizabeth Warren's Olive Branch to Big Business"

Posted By: Julia La Roche
NN_morning_call_200.jpg

"Elizabeth Warren's olive branch to big business" [CNN Money]

"Deals Rush Pushes Takeovers to the Most Expensive Since Lehman" [Bloomberg]

Neil Barofsky's op-ed on "Where the Bailout Went Wrong" [NYTimes]

Jim Rogers: Oil to Rise; Nuclear Energy Will Come Back [CNBC.com]

Economic data today includes the ADP employment report and mortgage applications [CNBC.com via Reuters]

Earnings reports include Family Dollar and Mosaic Group. [CNBC.com via Reuters]

»Read more
  Tuesday, 29 Mar 2011 | 5:38 PM ET

Goldman Sachs Senior Swaps Trader Leaves for Bank of America

Posted By: Kate Kelly
The Goldman Sachs booth on the floor of the New York Stock Exchange
Getty Images
The Goldman Sachs booth on the floor of the New York Stock Exchange

Craig Reynolds, a senior swaps trader from Goldman Sachs , has jumped ship for Bank of America .

Reynolds, a managing director at Goldman, will run U.S. rates trading for B of A, say people briefed on his job move, which was announced in an internal e-mail at his new firm on Tuesday morning.

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  Tuesday, 29 Mar 2011 | 4:39 PM ET

Obama Might Win In a Government Shutdown

Posted By: John Carney
  Tuesday, 29 Mar 2011 | 3:41 PM ET

Adam Smith Testifies In Raj Trial: "Research Is Doing Your Homework, Getting the Number Is More Like Cheating on the Test"

Posted By: Katya Wachtel, Business Insider
Raj Rajaratnam
cnbc.com
Raj Rajaratnam

Adam Smith began his testimony in the Raj Rajaratnam trial today.

He's the first former Galleon employee to take the stand against his old boss.

In the morning session, Smith told jurors that Galleon "used insider tips as an “edge” in a strategy to make money" when company revenue details differed from expectations on Wall Street, Bloomberg reported.

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  Tuesday, 29 Mar 2011 | 2:10 PM ET

The New FDIC Risk Retention Rules Reject Insurance

Posted By: John Carney
Government Regulation
CNBC.com
Government Regulation

One of the more controversial provisions of the new mortgage risk retention rules proposed by financial regulators today is that they don’t allow banks to correct weaknesses in mortgage pools by purchasing credit protection.

Before the financial crisis , banks regularly wrapped mortgage-backed securities with insurance in order to get a higher credit rating. The idea was that the insurance diminished the possible investor losses on the securities, since the insurance company would have to pay if the underlying mortgages defaulted.

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  Tuesday, 29 Mar 2011 | 1:20 PM ET

Meet Adam Smith: The Ex-Galleon Portfolio Manager And Controversial Star Witness That Says Raj Is Guilty, And His Brother Is Too

Posted By: Katya Wachtel, Business Insider
Raj Rajaratnam co-founder of the Galleon Group hedge fund.
Getty Images
Raj Rajaratnam co-founder of the Galleon Group hedge fund.

This afternoon, former Galleon trader Adam Smith will take the stand in the Raj Rajaratnam insider trading trial.

He plead guilty to insider trading earlier this year, and is one of the government's star witnesses.

"I knew what I was doing was wrong," Smith told the court in January . "I am forever remorseful about this terrible mistake."

In their complaint against Smith, the SEC said:

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  Tuesday, 29 Mar 2011 | 12:16 PM ET

The FDIC Introduces New Risk Rules for Banks

Posted By: John Carney
american_bank.jpg

The new risk retention rules proposed by regulators today are far more stringent than major banks had hoped they would be.

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  Tuesday, 29 Mar 2011 | 11:25 AM ET

Could Peru Threaten Global Economic Recovery?

Posted By: Jeff Cox
Peru
Steve Allen | Brand X Pictures | Getty Images
Peru

The turmoil in Peru may not exactly match up to what’s happening in Libya, Japan or some of the other world’s hotspots, but traders are carefully watching political upheaval in the metal-producing South American nation.

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  Tuesday, 29 Mar 2011 | 10:41 AM ET

Does JPMorgan's AT&T Loan Signal a Credit Bubble?

Posted By: John Carney
JPMorgan3_new.jpg
Getty Images

The giant $20 billion bridge loan JPMorgan Chase made to finance AT&T's acquisition of T-Mobile USA may be a leading indicator that a new credit bubble is forming.

Moody's is warning that the loan might encourage other banks to take on too much risk in pursuit of underwriting fees, in a repeat of the mad rush to make loans we saw in the second half of 2007, according to the Financial Times .

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