I was once a Merrill Broker. If they go next, I'll say it couldn't have happened to a nicer "firm." (The firm in quotes, as they are a sales shop... Clients always came second.)
These guys on CNBC get so spew it, and there is ZERO that can be done to them by the regulators. No repercussion at all!!!! They put out their financial porn, and unlike a licensed broker, or advisor, they get away with it. If it were a B/D or RIA spewing garbage like that, they would be shut down, and broke from the fines. CNBC is a huge headache for Advisors these days, as people watch that garbage, and go put their money in CD's. They tell me (once I finally get it out of them why they are 100% in cash), "the news (CNBC mainly) is always coming out ("breaking news") with stocks dropping, and an economic crisis is coming." Long story short, the negative shit that sells on CNBC has created an environment where people don't know what to do. What do they do, when they don't know what to do? Nothing! That's human nature. Maybe the "moms and pops" out there who have been beaten down by CNBC financial porn, can sue them for Opportunity Cost? After that, maybe the CNBC talking heads will become accountable to the regulators for anything they spew! Ooh rah! (I like Santelli though.)
"Gasparino has the real pulse and real sources on the street." Huh? He has been pumping up BSC for a long time on complete bullshit rumors. I have heard him on just about every CNBC show talking about the firm being taken over and now its hanging by a thread from bankruptcy. "... the pulse on the street ", ??? He was a shill/ patsy the whole time. He was either a complete fool or a tool that the firms insiders used to keep the stock up.
Why are the investment banks and security dealers getting tax payer money from the fed this just blows my mind. Its wrong just plain wrong.
A fool and his money... The quintessential CNBC viewer these days: http://www.elitetrader.com/vb/showthread.php?s=&threadid=122108
Because if the system collapses there will be NO Money at all. Did I need to spell that out for ya? See Dick Run. See Jane Run.
When the house next door is on fire, why is the government spending tax dollars to bring in the fire brigade to put out the fire. Maybe so the whole neighborhood doesn't catch fire and your house doesn't burn down, too? Is that also plain wrong?