Check out this on-air live battle on CNBC yesterday (kudos to CNBC for actually posting the clip) http://urltea.com/2a2v.
Gasparino is supporting Ben Stein, whose Sunday New York Times column questioned Goldman Sachs’ efforts to sell what turned out to be toxic investments in mortgage-backed bonds secured by sub-prime mortgages while at the same time hedging those securities by selling them short in their own account (short sellers hope to profit by selling securities they don’t own and buying them back at a lower price later.)
Outside observers would easily see such sales as an admission that the firm was selling something that was a bad investment. People on Wall Street don’t seem to see any conflict in Goldman unloading these barrels of waste on teachers’ pension funds while going out the back door and shorting them. Watch how the host of the show and the guest gang up on Charlie.
Live business television at its most remarkable. Host and correspondent both lose their temper. Amazing stuff!