CNBC has a show called "Fast Money" where every afternoon a group of traders and insiders chat about how to make money in each day's market and they have the usual corporate representatives, CEO's, investment company hotshots, etc. It is a total promotion of why every day is another opportunity to buy and make your broker rich, that is expected on this business channel, CNBC. Today, however, they got a shock when one of the wise gray hair types dropped a genuine news item about BP. Actually watching the reaction of the talkiing heads was more interesting than the prediction of the demise of BP---former Secretary of Labor Robert Reich put that out already, but follow me--please-for some funny stuff--ok for a business network--funny stuff-
For a moment of enjoyment featuring BP as the topic, go watch Matt Simmon, a retired energy investment guru on CNBC June 8, predict the demise of BP. See:
BP Not A Public Company By End Of Summer?
Published: Tuesday, 8 Jun 2010 | 5:48 PM ET
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By: Lee Brodie
Producer
A widely regarded authority in the energy sector tells Fast Money, ""I don’t think BP will last as a company for more than a matter of months."
You read that right – not a a public company by end of summer.
Go to : http://www.cnbc.com/...
The real enjoyment comes in watching the totally pro business talking heads sputter and fuss, trying first to imply he was working for some competition or making a statement to affect his portfolio, only to have him say he is retired and had no conflicts. More sputter and fuss as they talk about making headlines and being in total shock that someone would come on the show, with business credentials no one can challenge, and predicting the demise of BP.
Sometimes the financial press and TV can be worth watching!