NBC

Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.

Did Comcast think it can poach the crack Power Lunch (no pun intended) CNBC team all on its own? Turns out the answer is a flat out no. According to Reuters not only will GE likely exit its Comcast venture within 4 years (apparently the Comcast deal is virtually a certainty now, much to the chagrin of the Squawk Box team et al), but others media conglomerates are also considering getting involved in what could soon become a heated bidding war for the ample assets partially hidden by variousgrotesquely stretched sweaters.

Developing story: David Faber reports Comcast would end up owning 51% of NBC Universal. Ironically, this may finally make CNBC somewhat objective. More importantly, over/under on Dennis Kneale contract extension?

Comcast denies having an agreement to buy NBC Universal. Which means the proxy is coming out within the week (excluding the pseudo non-un-referenced Merrill loss and bonus arrangements)

The Internet retorts that it is even more concerned by spread of disinformation by NBC/GE subsidiaries.