Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Morning six-pack: Cocaine, bankers, botox, and Catholics

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Snow day! At least here in New York City we're seeing the kind of mild and soft snowfall that they consider a blizzard in our nation's capital. Here's what's we're obsessed with this morning.

China's Treasury holdings rise to $1.304 billion. That amounts to almost $4000 for every American or almost one and a third trillion dollar platinum coins.

JP Morgan, Deutsche ban multi-dealer chat rooms. Traders talking across banks in chat room fixed interest rates. Or tried to. Now they'll have to use snapchat.

Nigella Lawson's assistant says her banknotes were covered with white powder and many were rolled into small tubes. She's a cook so, obviously, it's flour and minature rolling pins, as Simon Constable points out.

Ramesh Ponnuru says that the Pope doesn't understand free markets. In America, we might not have free markets but freedom certainly markets you.

Botox faces backlash. Nobody wants to do botox because it makes celebrities look like monsters. Imagine what it will do to regular people and then imagine what it will do to the monsters who already work on Wall Street.

JPMorgan will announce that junior bankers must take one weekend off a month. This follows Goldman Sachs' rule banning work from Friday night through Sunday morning. Theory: it's not coincidence that both Lloyd Blankfein and Jamie Dimon have kids the age of junior analysts and associates.

—By CNBC's John Carney. Follow him on Twitter @Carney