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Finance NetNet


  Thursday, 17 Feb 2011 | 4:15 PM ET

Ben Bernanke Goes to the Movies

Posted By: Kerima Greene

Ben Bernanke spotted at the movie theaters earlier this month."True Grit" playing on the big screen.

"He seemed to really enjoy it…laughing and cheering throughout..although it was a little weird to see him doing 'normal stuff," said one eyewitness.

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  Thursday, 17 Feb 2011 | 3:49 PM ET

Wall Street’s $86 Million Kinder Morgan Pay Day

Posted By: John Carney
Kinder Morgan
Source: kne.com
Kinder Morgan

Last week’s Kinder Morgan public offering was a fee bonanza for Wall Street. A total of nearly $86 million was paid out to the thirteen banks involved in the offering.

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  Thursday, 17 Feb 2011 | 3:21 PM ET

Hot Money & Sweet Little Lies

Posted By: Ash Bennington
Photo by: Tracy O.

The problem with controlling the flow of information is that you need to keep track of all the stories you're spinning: For the most populous nation on earth, that challenge may be Sisyphean.

Yesterday, as China reported food inflation surging over 10 percent, allegations circulated that the Chinese government had 'massaged' their aggregate inflation number by manipulating the market basket.

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  Thursday, 17 Feb 2011 | 2:53 PM ET

Why I Don't Trust The Muni Bond Experts

Posted By: John Carney
Simon Willms | Stone | Getty Images

Stone Street Advisor’s detailed story about John Paulson’s October 2010 interview with the Financial Crisis Inquiry Commission easily qualifies as a must read.

It far surpasses any of the conventional media stories about Paulson’s testimony, taking full advantage of the fact that blogs don’t suffer from handicaps such as space limits.

SSA lets the story run long because Paulson’s testimony deserves to be studied at length.

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  Thursday, 17 Feb 2011 | 1:49 PM ET

What Will Kill a Bull Market? Good News

Posted By: Jeff Cox
Getty Images

The best of times for the economy can be the worst of times for the stock market, and that may prove especially true in a market driven by trillions of dollars in monetary stimulus.

As the market keeps surging ever higher, doubling its March 2009 lows and on a high-speed journey to infinity and beyond, the biggest game in Wall Street is trying to figure out when the bull run finally runs out of rocket fuel.

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  Thursday, 17 Feb 2011 | 12:47 PM ET

Homeowner Forecloses on Wells Fargo

Posted By: Ash Bennington
Wells Fargo bank
Paul Sakuma
Wells Fargo bank

You read the headline correctly: A homeowner has begun foreclosure proceedings on a local Wells Fargo office in Pennsylvania.

This is how it happened. A Philadelphia homeowner named Patrick Rodgers, who mortgage banks with Wells Fargo, was told by Wells that he needed to take out a $1 million homeowner's policy on his house. Rodgers bristled at the demand: Because the market value of his house was far below a million bucks—he'd purchased it for $180,000 in 2002—and because the insurance policy cost $2,400. (Wells wanted the house insured for its replacement value—and the 100 year old Victorian would cost a fortune to recreate; hence, the difference in valuation.)

Here's where the stories gets fun, as Susanna Kim reported for ABC News .

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  Thursday, 17 Feb 2011 | 11:50 AM ET

The Departure of Wells Fargo's CFO Is Still a Mystery

Posted By: John Carney
Howard Atkins, CFO, Wells Fargo
Howard Atkins, CFO, Wells Fargo

What led to the abrupt departure of Wells Fargo Chief Financial Officer Howard Atkins?

There's a lot of speculation in banking circles right now about what could behind the resignation, which took everyone by surprise.

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  Thursday, 17 Feb 2011 | 10:46 AM ET

Goldman's Bungled Facebook Deal Irked Clients

Posted By: John Carney
Goldman Sachs
Getty Images
Goldman Sachs

The original private placement dealGoldman Sachs attempted for Facebook angered or annoyed many of the firm's wealth management clients.

The firm initially opened participation in the deal to all of its wealth management clients, requiring only that they contribute a minimum of $2 million. The high level of client interest, however, meant that Goldman would have to turn away many would-be investors—a prospect that wealth management professionals at Goldman dreaded would spur some clients to walk away from the firm altogether.

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  Thursday, 17 Feb 2011 | 10:01 AM ET

The Quiet Before the Storm? 

Posted By: Lori Ann LaRocco

The unrest in the Arab World and in the Middle East continues to spread.

The Egypt-style demonstrations in Bahrain turned deadly and on Thursday in Libya protestors are holding "a day of anger/" Similar protests were also staged in Algeria as well as in Iran, where at least 50 people were reported hurt.

Iran, Algeria and Libya are some of the world’s largest oil producers. I decided to catch back up with Richard Soultanian Co-President of the utility cost management firm, NUS Consulting, to get his outlook on the protests and what it could mean for oil.

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  Thursday, 17 Feb 2011 | 9:08 AM ET

Budget History 101

Posted By: Nicole Lapin
US Capitol Building with cash
US Capitol Building with cash

It’s time for a little history lesson, boys and girls. I'm feeling inspired by my recent trip to the nation's capital, so the subject of the day is: the federal budget.

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