NBC Universal

The Election Has Been Hacked: The Dismal Reality Of Having No Real Electoral Choices

Politics is a game, a joke, a hustle, a con, a distraction, a spectacle, a sport, and for many devout Americans, a religion. It is a political illusion aimed at persuading the citizenry that we are free, that our vote counts, and that we actually have some control over the government when in fact, we are prisoners of a police state. In other words, it’s a sophisticated ruse aimed at keeping us divided and fighting over two parties whose priorities are exactly the same so that we don’t join forces and do what the Declaration of Independence suggests, which is to throw the whole lot out and start over.

Frontrunning: April 29

  • Police enforce curfew in Baltimore, disperse protesters (Reuters)
  • Saudi king resets succession to cope with turbulent times (Reuters)
  • Euro-Area Bank Lending Increases for First Time Since 2012 (BBG)
  • Riksbank Increases Bond Purchases as Key Rate Left Unchanged (BBG)
  • Greek Banks Get More Funds as ECB Weighs Collateral Discount (BBG)
  • Greek bank deposits drop 1.36 pct in March for sixth month in a row (Reuters)
  • Sarao Remains in Jail After Failing to Pay Bail at Hearing (BBG)

Brian Williams' "Mis-Remembering" Will Cost Him $5 Million, Suspended By NBC For 6 Months

Having signed a new five-year contract in December reported to be worth $10 million a year, Brian Williams - the mis-remembering NBC News anchor - has been suspended by the network for six months without pay this evening, according to The NY Times. NBC Universal CEO Steve Burke remarked, "by his actions, Brian has jeopardized the trust millions of Americans place in NBC News. His actions are inexcusable and this suspension is severe and appropriate."

"Who Do You Trust?"

"We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must." - Cramer

"Seek not the favor of the multitude; it is seldom got by honest and lawful means. But seek the testimony of few; and number not voices, but weigh them." - Immanuel Kant

Frontrunning: July 31

  • Hilsenrath: Heat Rises on Central Banks (WSJ)
  • Some at Fed Are Urging Pre-Emptive Stimulus (NYT)
  • Obama Warns of Headwinds in Europe; Urges European Leaders to Take Decisive Action on Euro (WSJ) - also needs reelection
  • ECB thinks the unthinkable, action likely weeks away (Reuters)
  • Games Turn London Into ‘Ghost Town.’ (FT)
  • Greek Leaders Seek to Defer Austerity Cuts (FT)
  • Hong Kong Builders Unload Properties to Raise Cash for Land Rush (Bloomberg)
  • North India Crippled by Power Cuts (FT)
  • Euro-Area Unemployment Rate Reaches Record 11.2% on Crisis (Bloomberg)
  • Italy's Monti sees hope of end to euro crisis (Reuters)

"There Is No Chinese Wall. Please. Come On. This Is Wall Street"

Remember the look on one's face when one hears there is no Santa Claus, or tooth fairy? That, more or less, is what the visage on everyone's favorite CNBC anchors Becky Quick, Joe Kernen and Andrew Ross Sorkin was, when Chris Whalen matter of fact (because it is a fact) let a rare glimpse of reality on the NBC Universal distraction and entertainment show, when he said "There is no Chinese Wall. Please. Come on. This is Wall Street." Awkward silence follows. And why not: if the banks officially call frontrunning an "Asymmetric Information Initiative" to mask the simple illegality from the idiot regulators, why not call a spade a spade, and expose one more aspect of the lies and crime that is shoved down investors' throats every single day.

Bill Dudley's Financial Holdings Disclosed At Time Of AIG Bailout

Earlier today, the New York Fed was kind enough to voluntarily disclose the finacial holdings and assets of one former Goldman Sachs employee, and current FRBNY president Bill Dudley. Bill Dudley is also known as the gentleman to have received, when he was stil head of the PPT, aka the Fed's Open Markets Group, a waiver signed by one Tim Geithner on September 19, 2008, allowing him to keep not only his investment in AIG, which was "de minimis" at $1,200, but also in General Electric, which was not de minimis at $106,830. And while his modest holdings of AIG likely did not impact Dudley's protocol of bailing out the failed insurer, his interest in GE, and thus its then fully held subsidiary NBC Universal, parent of such comedy channels as CNBC, could potentially have been a source of conflict. Which is why the Fed has disclosed the full holdings of Dudley as of the 2008 year, in which we find that the bulk of Dudley's net worth was held by JPMorgan Chase Deferred Income Benefit Award (over $1MM) and JPM Chase Deferred Compensation ($500,001-$1,000,000). Was Mr. Dudley also completely conflict free vis-a-vis the bulk of his holdings, and their custodian, and did the New York's Fed largesse to bail out JPM among many others, have anything to do with this particular heretofore unknown detail? Of course not. After all, Jon Corzine is a free man. In other news, anyone who needs urgent access to the discount window or a $1 trillion overnight loan at 0.001% interest, should just call the Fed's 24/7 hotline: 877-52-FRBNY.

Daily Highlights: 12.7.09

  • Asia currencies fall, led by Rupiah, on bets US rates to rise.
  • China’s top leaders pledged to maintain a “moderately” loose monetary policy stance.
  • European stock markets fell as the dollar jumped to a five week high against the euro.
  • Nikkei hits 6-week high on weaker yen.
  • Sales at US retailers probably rose as consumer spending fuelled economy.
  • Treasury Dept to earn $146.5M from its auction of 12.7M Capital One Fincl warrants.

Daily Highlights: 12.3.09

  • Asian stocks rally most since May, led by Japanese exporters; Yen weakens.
  • E-commerce sales grew 5% YoY on Cyber Monday—first Monday after Thanksgiving.
  • Euro up to $1.5111 in European morning trade as investors await ECB meeting.
  • Gold sets third straight record; Newmont Mining forecasts $1,350/oz in 2010.
  • Hong Kong should tighten rules to control asset prices: IMF.
  • Japan shares jump nearly 4 percent to five-week high on weakening yen.

Daily Highlights: 12.1.09

  • Australia raises interest rates by 25 bps to 3.75% as economy rebounds.
  • Auto loan delinquency rate rises in 3Q but some states improve, hinting at recovery.
  • Bank of Japan leaves benchmark interest rate at 0.1%.
  • Bank of Japan said it will provide 10 trillion yen in short-term loans to commercial banks.
  • China’s manufacturing grew last month at the fastest pace since April 2004- HSBC survey.
  • Dubai, Abu Dhabi exchanges fall for 2nd day after Dubai World debt bombshell announcement.

Daily Highlights: 11.9.09

  • Asian stocks gain on G-20 stimulus, Axa takeover; treasuries, dollar fall.
  • China may “soon” issue measures to limit the use of debt in real-estate purchases.
  • Crude oil rises above $78/bbl as Hurricane Ida entered the Gulf of Mexico.
  • Gold surged to records (hits $1,105.11/oz) on a weakening dollar.
  • House health bill unacceptable to many in Senate
  • India will pull back on its easy fiscal stance next year, sees 7+% growth next year:PM
  • Treasuries fall as Asian stocks rose, US prepares to sell record $81B of debt this week.

CNBC's Days As GE's Propganda Puppet Are Almost Over

In what may end up being one of the best things for CNBC, if not for many of its anchors, the WSJ reports that the Comcast-GE deal for NBC Universal is practically complete. Next stop for the Englewood Cliffs brigade: 15th and Market. Fear not: the Walt Whitman rush our traffic is much more manageable than that of the George Washington. Also, Smokes has a 3 for 1 special for 40 year old anchorettes who will do anything to adjust the weighted average age of their bodies by 5 to 10 years lower.

CNBC Viewership Plunges 50% In October

If anyone wants to know why CNBC anchors are so pale and nervous these days, look no further. As Comcast CEO Brian Roberts considers what to keep and what to, well, cut, post his digestion of NBC Universal (assuming deal rumors are true naturally) his eyes likely cast casual nervous glances at Nielsen reports of CNBC viewership. Yet his nervousness is quite minor compared to what actual employees must be feeling after Nielsen reported a 50% plunge in CNBC viewership in October year over year. Specifically, CNBC has experienced a massive 52% decline in overall viewers during business day hours (5 am - 7 pm), and a not much better 49% drop in its demo (25-54) in the month of October as compared to last year. Specific shows that are likely to follow the fate of Dennis Kneale's recently cancelled 8pm gobbledygook are likely the Kudlow Report and Mad Money, which are down 59% and 56%, respectively.