A passing point. This A.M., I noticed that the CNBC Call Girl (Melissa) made a mistake. Frustratingly, one that none of her colleagues noticed. It is about the FDIC increased insurance proposal. She wondered what the insurance cost effect would be. Too bad that Senator Schumer had just (in two interviews, one on Bloomberg, the other on CNBC) said that the plan would hold the insurance cost constant while increasing only the coverage amount. Since CNBC holds so many eyeballs, this mistake will bounce around far too much. These small mistakes are caused by a need to talk over the hosts own head. They don’t listen, they look for a lead. This error is small, but so is rat crap. Neither are good signs of a well kept kitchen, nor a skilled staff. Still the soup is ladled out to the boyz on the str33t. The error may be corrected by one of the CNBC Street Talkers, but I’m on to other things, hope you are too.
EDIT: Thur Oct 02,08… I have just seen a partial interview with the FDIC chair. As I understand what she said (I will check) the “insurance” amount banks pay will go up. This means that B. Frank’s comments on Bloomberg were not correct. xin loi.