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Finance NetNet


  Wednesday, 2 Mar 2011 | 12:59 PM ET

East Coast 'Entourage' Features Unemployed Former Bear Employee

Posted By: Ash Bennington
Ed Burns
Gary Gershoff | WireImage | Getty Images
Ed Burns

Ed Burns will play an unemployed former Bear Stearns employee in a new series produced by the creator of Entourage.

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  Wednesday, 2 Mar 2011 | 12:08 PM ET

Broun: "Obamacare" Will Push All States Into Severe Economic Problems

Posted By: Lori Ann LaRocco

We have been seeing the budget battles of some states playing out in the form of protests and now more than ever the fiscal challenges facing many states are making headlines almost on a daily basis.

One of the expenditures states are required to pay for is providing Medicaid coverage and with the passage of health care reform more individuals will be rolled into the program.

On Tuesday, three governors—Haley Barbour (R-MS), Gary Herbert (R-UT) and Deval Patrick (D-MA) descended into Washington, testifying before the House Energy Commerce Committee on the burdens imposed by health care reform.

I caught up with two House members, both former practicing MD's—Rep. Michael Burgess \(R-TX\) and Rep. Paul Broun \(R-GA\) on the price tag of health care reform and the impact it could have on the quality of health care.

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  Wednesday, 2 Mar 2011 | 11:22 AM ET

Will Rajat Gupta Destroy McKinsey?

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

McKinsey & Co is reeling from the revelation that the Securities and Exchange Commission believes one of its most high-flying alumni gave corporate secrets to a hedge fund manager who is now accused of being at the center of a large and complex insider trading scheme.

For a firm that thrives on its reputation, proximity to misdeeds of this sort could be fatal, according to former McKinsey consultants who spoke on the condition of anonymity.

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  Wednesday, 2 Mar 2011 | 10:53 AM ET

Drink the Recession Away? Bottoms Not Up!

Posted By: Nicole Lapin
Jack Andersen | FoodPix | Getty Images

So, during tough economic times, you'd think people drink their sorrows away. Apparently not so much. I was surprised to find that US beer sales were down an estimated 2.7 percent by volume for the first half of 2010.

So who's winning? The craft, microbrews, like the newly-public Kona Brewing . The CEO rolled on set this morning in flipflops and a Hawaiian shirt, straight off the plane from paradise. \(Seriously, he gets paid to drink beer and live in Hawaii—tough life but someone's gotta do it.\)

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  Wednesday, 2 Mar 2011 | 10:11 AM ET

China Still US's Largest Creditor, Probably

Posted By: Ash Bennington
Flag of the People's Republic of China
Eriko Koga | The Image Bank | Getty Images
Flag of the People's Republic of China

Earlier this week the U.S. Treasury released its Preliminary Report on Foreign Holdings of U.S. Securities.

This report contains the preliminary revised annual numbers from the Department of Treasury.

As Cardiff Garcia at the Financial Times Alphaville explains , these revised annual reports are generally thought to be more accurate than the monthly Treasury International Capital System \(TIC\) data.

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  Wednesday, 2 Mar 2011 | 9:31 AM ET

Steve Forbes Knows Who Runs Goldman

Posted By: Nicole Lapin
Steve Forbes
Tomas Hudcovic | isifa | Getty Images
Steve Forbes

"Goldman knows, even though it's a mighty company, it survives at the sufferance of the U.S. government," Steve Forbes said as my guest host on the show this morning.

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  Wednesday, 2 Mar 2011 | 9:01 AM ET

Buffett Says He Has an 'Itchy Trigger Finger' for Big Deals

Posted By: Julia La Roche

Buffett Says He Has an 'Itchy Trigger Finger' for Big Deals [CNBC.com]

"Apple Set to Unveil New iPad, With or Without Jobs" [Reuters via CNBC.com]

Will There be a Tablet Price War? [WSJ]

A batch of economic data this morning includes ADP National Employment Report [CNBC.com]and mortgage applications [Reuters via CNBC.com]

"It's a Mad, Mad, Mad, Mad-Off World" [CNBC's Jane Wells]

Whoa! Check out these overflowing water bills that cost as much as a mortgage payment [CNN]

»Read more
  Wednesday, 2 Mar 2011 | 8:41 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

If Steve-o Forbes can hang out with me for an hour from 5-6 in the morning, you can give me 5 seconds to skim the Cliffs Notes version of my show:

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  Tuesday, 1 Mar 2011 | 5:00 PM ET

Rajat Gupta: Bigger Than Madoff?

Posted By: John Carney
Rajat Gupta
Getty Images
Rajat Gupta

Rajat Gupta may be the most important businessman ever charged with a serious violation of securities laws.

The standard defendants in insider trading cases are low-level employees of corporations or Wall Street firms. Only very occasionally does anyone who has risen to the height of a Raj Rajaratnam—the founder of Galleon, and alleged co-conspirator of Gupta—get charged with serious violations.

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  Tuesday, 1 Mar 2011 | 4:28 PM ET

SEC Examines Hedge Fund' Side Pocket' Accounts

Posted By: Ash Bennington

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  • 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.


Wall Street

  • Federal Reserve Bank Board Chair Janet Yellen.

    Market conditions and stabilizing economic data could lead the Federal Reserve to raise interest rates in October, David Lebovitz said.

  • Job seekers attend a Job Fair Giant career fair in Sterling Heights, Michigan, Sept. 30, 2015

    Stocks sank and investors ran to Treasurys after a disappointing jobs report pushed off expectations for a Fed rate hike into 2016.

  • Job seekers wait in line to enter the Choice Career Fair in San Antonio, Texas.

    The economy created 142,000 jobs in September, a number that whiffed on expectations and could cool expectations that the Fed will start raising rates.