March 29, 2009
Here is a great video with an explanation of how pit traders communicate.
February 23, 2009
White House Press Secretary Robert Gibbs (smugly) tries to debunk Rick Santelli’s rebel rousing comments seen on CNBC late last week. In the beginning of the clip, he asks
“…I am not entirely sure where Mr. Santelli lives or what kind of house he lives in…”
Was that intended to provide a warning?
Keith Oberman got into the mix as he added Santelli to his “Worlds Worst” segment. The best line from Oberman has to be : When we try to fix what you all did to this country, just sit down and just hush up…”! Well, thanks for the great work, Keith. If blowhard could be a cure for economic ills, you would eradicate the disease. Other than that, sitting and pontificating does not qualify for working to fix the economy. Nice try though!
Here is the first video where Santelli pokes holes in the latest White House initiative to slow down the the increasing level of foreclosures.
Is Gibbs inferring something? Is he saying that any dissension will be met with harsh punishment? You be the judge….
July 2, 2008
Is CNBC responsible for downfall of Bear Sterns? In the upcoming issue of Vanity Fair, the collapse of Bear Stearns, that is the argument. On the morning of March 10th, CNBC began reporting a rumor that Bear Stearns was having liquidity problems. That sent shockwaves through the system and Vanity Fair’s author is proposing that CNBC was the root cause of the final collapse:
…Yet CNBC’s coverage remained anything but skeptical of the rumor. At two the network’s new “money honey,” Erin Burnett, headlined the hour by announcing “credit issues at Bear,” never mind that there was no such thing. She turned to correspondent David Faber, who observed, “Of course, no firm’s ever going to say that they are having trouble with liquidity, and, in fact, you’ve either got liquidity or you don’t. So if you don’t have it, you’re done. Those are the kinds of concerns in this market, concerns of confidence. You can have crises of confidence, causing meltdowns.”
By the end of the weekend, Bear Stearns was done. You know the rest of the story.
The destruction of a Wall Street giant all on an uncorroborated rumor fueled by CNBC correspondents that were more interested in topping each other than reporting the facts? Hard to believe, but who knows these days. Perhaps they took lessons from that NY Times writer from a few years ago…what was his name?
So, is CNBC guilty of this or just the messenger?
May 11, 2008
Brian Shactman joined CNBC in June 2007 as a general assignment reporter and fill-in anchor for CNBC’s Business Day Programming. Shactman joined CNBC after his four-year tenure at WVIT, the NBC owned-and-operated station in Hartford, Connecticut. The last three of which he served as the morning news anchor for “NBC 30 News Today,” the station’s top-rated program
Shactman covered a variety of stories, ranging from campaign finance reform and the scandal surrounding former Governor John Rowland, to the Red Sox winning the World Series in 2004.
Prior to joining NBC in 2002, Shactman held various positions at ESPN including analyst work on ESPNews, SportsCenter and on their flagship radio network. He also wrote, edited and produced content for ESPN.com. After leaving ESPN, Shactman remained active at the company, hosting a variety of Read more
March 23, 2008
Guest: Mike Huckman, CNBC Pharmaceutical Reporter brings great deal of timely information regarding the Pharma and Biotech sectors. We discuss Merck (MRK), Amgen (AMGN), Genentech (DNA), Dendreon (DNDN), Pfizer (PFE) and others.
Mike’s writes a terrific blog and appears daily on CNBC.
Andrew discusses the current markets and provides a few strategic moves for profit potential. Last week was a see-saw market and if positioned correctly, your portfolio could be holding up well. Even so, it looks as though the economic environment could continue to deteriorate. In this episode, we explore the next looming problem and how to protect yourself.
**AWARENESS and discussion of the Credit Card Crisis has not yet made it to the mainstream headlines, but we see that there is potential for additional economic fallout as Americans continue to build credit in order to pay for their increasingly expensive lifestyles.**
In this edition of The ZachZone, Visa (V) and upcoming IPOs are discussed.
(This edition of The ZachZone is sponsored by Newsflashr – Get a wide angle view of all of the hot topics making news – All on a single page. )
Other Stocks Mentioned in this and recent episodes: (V) (BSC) (LEH) (SPY) (SAFM) (GS) (MER) (QID) (SKF) (QQQQ) (IBKR)