Kass: 'G Phone' and Other Street Chatter

This blog post originally appeared on RealMoney Silver on Sept. 6 at 7:46 a.m. EDT.

Every few weeks, I recap 10 tidbits I've picked up from trading desks and other industry sources. These items have not been confirmed, but either have affected, or could affect, the stocks mentioned. The first such column, in early January, proved prescient on several fronts. Here are this week's top 10.

1. The launch of the Google (GOOG) Phone appears close at hand. The architect, Rich Miner, has already exhibited the cell phone's prototype to a group of Boston venture capitalists and entrepreneurs after completing the design work in a Cambridge, Mass.-based office in Kendall Square. The G Phone will be based on a mobile variant of Linux and will be able to run Java virtual machines.

2. Democratic presidential aspirant Sen. Hillary Clinton (D., N.Y.) will shortly announce a broad, strategic and comprehensive $25 billion dollar bailout for U.S. homeowners, coupled with legislation geared against predatory lending. Assisted by input from Citigroup's Bob Rubin and from several senior Goldman Sachs officials, Clinton's initiative will be far greater than her previous recommendation, the 21st Century Housing Act, which was made early this year. (Clinton's cabal is so confident that she will win the Democratic presidential nomination that they are already considering vice presidential nominees.)

3. The planning for the Fox Business Network and the acquisition of former CNBC reporters continues apace. The Oct. 15 debut will be positioned on Time Warner Cable Channel 43, at which time, Fox News will move to Channel 44. The launch appears on target, and Director of Business News Alexis Glick (who will also be on air) is expected to bag CNBC's Liz Claman and Eric Bolling.