GO
Loading...

Enter multiple symbols separated by commas

Finance NetNet

More

  Friday, 11 Feb 2011 | 3:32 PM ET

Don’t Look Now, but the Obama Administration Just Proposed Creating Fannie Mae All Over Again

Posted By: John Carney
fannie_freddie_logos3.jpg
CNBC

It’s welcome news that the Obama administration proposes to wind down the mortgage giants Fannie Maeand Freddie Mac.

Unfortunately, this news is coupled with something far less welcome—a proposal to recreate the government sponsored entities all over again.

» Read More
  Friday, 11 Feb 2011 | 2:54 PM ET

What's Worse Than Losing Egypt's Presidency? Answer: Losing $40 Billion

Posted By: Ash Bennington
Egyptian President Hosni Mubarak
Getty Images
Egyptian President Hosni Mubarak

The news for Hosni Mubarak keeps getting worse: First he loses power in Egypt—now the Swiss government has announced that Switzerland is freezing accounts belonging to Mubarak and his family.

Some believe Mubarak may lose up to $40 billion if things really go south for him.

That hypothetical involves two principal assumptions: First, an estimate of the Mubarak family's enormous wealth; second, that Egyptian protesters will get their way—and have corruption charges brought against the Mubarak clan, which will result in the disgorgement of substantial amounts of cash.

» Read More
  Friday, 11 Feb 2011 | 2:20 PM ET

Sizing Up Boot Sales

Posted By: Stephanie Landsman
Ugg Boots
Source: Chris Beckett
Ugg Boots

It appears boot sales aren't taking a hike anytime soon.

At a time when retailers are trying to create enthusiasm for Spring, the harsher than usual winter is creating the perfect storm for boot demand.

» Read More
  Friday, 11 Feb 2011 | 1:32 PM ET

Insider Trading Probe Shutters $4 Billion Hedge Fund

Posted By: John Carney
cemetary_stone.jpg

So the government has killed Level Global Investors LP.

This morning David Ganek sent a letter to investors in the $4 billion hedge fund announcing that it expects to sell all of its holdings by the end of March.

Ganek founded Level Global in 2003 with Anthony Chiasson. Both are alumni of Steven Cohen's SAC Capital Advisors.

» Read More
  Friday, 11 Feb 2011 | 12:53 PM ET

Field Marshal Tantawi Allegedly in Charge in Egypt—What's a Field Marshall?

Posted By: Ash Bennington
Egypt's Defence Minister Mohammed Hussein Tantawi
Khaled Desouki | AFP | Getty Images
Egypt's Defence Minister Mohammed Hussein Tantawi

After Hosni Mubarak's resignation, ZeroHedge is reporting that Field Marshal Mohamed Hussein Tantawi is in control of Egypt—though, possibly, on an interim basis.

Tantawi has been a commissioned officer in the Egyptian military since 1956, although he did not ascend to his current rank of Field Marshal until 1991.

What exactly is a field marshal?

» Read More
  Friday, 11 Feb 2011 | 12:38 PM ET

Muni Call Right, in That Meredith Whitney Kind of Way

Posted By: Jeff Cox
Meredith Whitney on Closing Bell
CNBC
Meredith Whitney on Closing Bell

When it comes to her call on municipal bonds, it seems that Meredith Whitney is likely to be right in that Meredith Whitney kind of way.

That’s to say that she’s correct figuratively but probably wrong literally.

Ever since the doom-saying banking analyst predicted a wave of defaults in municipal bonds she has been subject to severe backlash. Her critics have called her ill informed and a financial fish out of water, delving into an area in which she has no expertise nor serious data to back up her opinions.

» Read More
  Friday, 11 Feb 2011 | 12:08 PM ET

What's Sharm el-Sheikh—and Why is Mubarak Hiding Out There?

Posted By: Ash Bennington
Sharm el Sheikh, Egypt
Nicholas Pitt | Photodisc | Getty Images
Sharm el Sheikh, Egypt

Sharm el-Sheikh, the Egyptian city where Hosni Mubarak is holed up, is an interesting place for an autocrat to attempt to ride out a revolution.

Sharm—as the locals are known to charmingly call it—claims tourism for its major industry: It's basically an isolated resort town on the Red Sea coast.

» Read More
  Friday, 11 Feb 2011 | 11:27 AM ET

Kinder Morgan's Giant IPO

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

So much for the death of the IPO.

The 95.5 million shares of the pipeline company Kinder Morgan hit the streets at $30 this morning and immediately popped 6 percent.

» Read More
  Friday, 11 Feb 2011 | 11:06 AM ET

Budget or Bust: The GOP's Manifesto

Posted By: Lori Ann LaRocco
NN_c_suite_200.jpg

Next week will be budget or bust on Capitol Hill as the House Leadership gets ready to vote on budget cuts. Some within the GOP are saying the $43 million in proposed cuts proposed by Budget Committee Chairman Paul Ryan (R-WI) are not enough. On the other side of the aisle, they are saying the cuts go too far.

I decided to ask Tim Phillips, President and CEO of Americans for Prosperity, for his thoughts on the GOP game plan. You may have heard about AFP. President Obama called out Americans for Prosperity nearly a dozen times in his stump speeches last election year. AFP has quickly emerged as one of the most influential conservative groups in the country with more than 1.6 million activists in 31 chapters across 50 states.

» Read More
  Friday, 11 Feb 2011 | 10:20 AM ET

The Most Sordid Insider Trading Scandal Ever

Posted By: John Carney
handcuffs
AP
handcuffs

Sometimes it just feels like God is conspiring with nature to arrange the events of the world in such a way to make Bess Levin the perfect chronicler of our times.

» 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.

 

Wall Street