Perhaps in light of the recent discussions about rumor mongers being sent to pound-me-in-the-ass prison for their supposed role in spreading falsities about Bear Stearns, Charlie Gasparino reports that two of his hedge fund sources-- who were not short BSC but prime brokerage clients of the bank-- started to lose confidence in the place way before the "liquidity issues" chatter began. One of them began creating custodial accounts the Friday before the rumors started, and the other had done so by Tuesday. In short, the rumors followed the run on the bank rather than the run following the rumors. This sort of behavior-- the manifestation of a lack of trust in Bear's ability to keep things together-- seems to have begun at least as early as December, and maybe had something to do with the two fabulously named hedge funds imploding, the guy in charge of them writing movie reviews, Jimmy Cayne going to 8-week long bridge camp, and the patrons of the 24th floor men's room's unfamiliarity with "the fundamentals of good hygiene" being signs that wheels were coming off.
Charlie Gasparino: Bear Was Going Down Before The Rumors About Bear Going Down Started
Posted by Bess Levin, Jul 09, 2008, 1:28pm
Comments
Posted by guest, Jul 09, 2008 1:33PM
Doesn't someone always know something, I mean its not like its against the law....... Oh riiiiiiiight, that insider trading thing.
Posted by pdtrading, Jul 09, 2008 1:37PM
I think all of these clowns are a bunch of cake eaters. Yeah, Jamie, it's all about the short sellers. It has nothing to do with you geniuses completely fucking up your balance sheets by acting like a bunch of 15 year-olds in Dad's liquor cabinet.
Dennis Kneale is a clown. How CNBC keeps trotting out guys who, day after day, are utterly wrong is beyond me. Until I remember it's CNBC. Hey, Erin Burnett's nice to look at but girlfriend don't know diddley about the markets.
Charlie Gasparino actually called that one right, but he's still a clown. He's a total suck-ass out for publicity. Lest we forget how he broke the story several months back about Ambac getting a bunch of financing, which catapulted the stock. Turned out to be totally bogus.
CNBC is a market rumor mill. Nothing more. Anyone who takes those guys seriously and loses money deserves it.
Posted by guest, Jul 09, 2008 1:44PM
The only new info in the Vanity Fair piece was about how much of a hack channel CNBC is. Imagine the anchors will shit on a company simply because someone else scored an interview with an exec? Ridiculous. I believe the article said there was no adult supervision at CNBC. To think that Joe Public makes investments based on these jokers.
Posted by Anal_yst, Jul 09, 2008 2:36PM
Think I'm gonna try to be a CNBC anchor, just show up for work sloshed every day, i mean WASTED, guaranteed only to elevate the level of news/analysis/bs coming from the network, hopefully they've gotta gangster health plan for the liver transplant though
Posted by guest, Jul 09, 2008 2:39PM
Good observation guest 1:44pm.......I used to but, not anymore. The people who are trying to do right by we, the viewer/investor, FOX Business. Even Bloomberg is giving it to us straight...they just don't showcase leg and cleavage as much. CNBC had some talent in some places but, I can't remember where. Go Liz Claman. (That'll piss someone off.)
Posted by reporter, Jul 09, 2008 2:46PM
i love guys like "pdftrading" who hide behind alias's when they're name calling.
Posted by guest, Jul 09, 2008 2:55PM
Gasparino is a guido doosh, pure and simple. he should be making fresh mozzarella, not reporting on the markets. Charlie, you couldnt work on the street so you report on it instead? Interesting. This report was a joke from start to finish
Posted by guest, Jul 09, 2008 3:19PM
Reporter, thats original. Are you Gasparino? If so, go stick your head in an oven, Im tired of you sniffing peoples asses
Posted by guest, Jul 09, 2008 3:24PM
Now we are not spelling 'doosh' correctly either?!!
The terrorists have won.
Posted by guest, Jul 09, 2008 3:26PM
BL: I love it when you use Going Down twice in the same headline. It kills me.
Posted by guest, Jul 09, 2008 5:15PM
I think calling people "guido dooshes" is rude and pointless. No one controls to whom he or she was born. Why shoud anyone be told to go make a paricular ethnic food? That's just dumb. Charlie Gasparino excites a lot of strong feeling on this site, but I don't think it's just because of his ethnicity. It has to do with his level of pretentiousness and self-importance, and the number of glaring errors made. Charlie, perhaps it IS time to look inward.
Anal_yst, I agree with you about the reporters on the set of CNBC looking wasted. Erin Burnett giggles inappropriately and fails to make eye contact, Charlie Gasparino's eyes go from clear in the morning to completely cloudy and befuddled after lunch, and we all know that Cramer shorted out a long time ago. This crew is not exactly inspiring confidence.
Posted by guest, Jul 09, 2008 7:40PM
Why do Gasparino's critics fail to recognize his many accomplishments and consistent reporting. Simply put, they are talentless underachievers. Rather than making a real contribution, they choose to attack Gasparino using his ethnicity and other very remedial tactics. Here is some advice for his critics: look in the mirror. Ask yourselves what you have ever done? Gasparino keep reporting and please don't let jealous underachievers distract you. Besides, there is nothing more cowardly than name calling using an alias
Posted by guest, Jul 09, 2008 7:42PM
Why do Gasparino's critics fail to recognize his many accomplishments and consistent reporting. Simply put, they are talentless underachievers. Rather than making a real contribution, they choose to attack Gasparino using his ethnicity and other very remedial tactics. Here is some advice for his critics: look in the mirror. Ask yourselves what you have ever done? Gasparino keep reporting and please don't let jealous underachievers distract you. Besides, there is nothing more cowardly than name calling using an alias
Posted by guest, Jul 09, 2008 8:15PM
Charlie G is a guido douche.
Hector P Valenti
Former Star of Stage and Screen
Posted by guest, Jul 09, 2008 8:36PM
Many accomplishments. Hello, are you on this planet? The guy is little more than an ignorant thug. He has absolutely no financial training or expertise. Would not know a debit from a credit, an income statement from a balance sheet or his ass from his elbow. He has continuous lied about every individual who he has covered to include former sources like Jimmy Canye. He has purposely destroyed people who have worked hard to help him out like Elizabeth Ventura at Bear who bent over backward to help him. Right about now, she would like to drop kick him in the balls. So, just how is he qualified to evaluate anything on Wall St? The answer is simple: he ain't!
Posted by guest, Jul 09, 2008 8:37PM
Dear Guest(2:55pm) and Hector, my name is Dr. Platt. I'm a specialist in body dysmorphia and disorders of gender identity. I have published more than 50 articles in peer-reviewed journals, and written numerous book chapters on gender identity. First, please understand I'm here to help. After reading your comments about Gasparino, and your reference to him as a “Guido doosh -bag”, it became clear that you(and Hector) have issues with Gasparino that go far beyond his reporting. Further, I feel strongly that your comments posted on this site reflect a strong sexual attraction to Gasparino, and a visceral desire to engage in recipient anal sex with him. Please consider the following analysis, and understand that I can help you(and Hector). The “guido”reference is a manifestation of your attraction to strong, masculine Italian men. Since you(and hector) view yourself as a woman, it's only natural that you(and Hector) are attracted to Gasparino. Next, the “doosh bag” reference reflects your inner need for recipient anal sex. This needs no further elaboration. My advice to you (and Hector) is to embrace your sexuality, and not to let your sexual attraction to Gasparino interfere with your assessment of his writing. Kind regards.
Posted by guest, Jul 09, 2008 8:39PM
Right on Hector. Even Judge Judy is going to enjoy that one.
Posted by guest, Jul 09, 2008 8:44PM
Bye Bye Gasbagarumor. The inside scoop is that you will be fingered for the Bear misinformation (geez, there's a surprise) and will be shit canned next week. Ahhh, too bad - but thank you for saving us all VF. He's going to be able to hang out at the Y with Eliott Spitzer. lol
I can see the headline now: Gasbagarumor was going down before the rumor that Gasbagarumor was going down started. Haaaaa.
Four levels of lying:
Lies.
Damned Lies.
God Damned Lies.
Gasbagarumor Lies.
Posted by guest, Jul 09, 2008 8:52PM
Did anyone actually see Gasparino's segment that this article is written about? Caruso- Cabrera interrupted Gasparino just as he was about to tie it all together and CNBC immediately shifted to a live feed of Sec. of Defense Gates announcing the anullment of a defense contract - interesting maybe but certainly not break-in material. Somebody wanted Gsparino silenced at taht very moment. After the 30-second cutaway to Gates, Power Lunch resumed and steered clear of Gasparino, with nothing more said. Try and watch the video clip on CNBC's website - this stinks!
Posted by guest, Jul 09, 2008 9:32PM
Hey moron, For the record, everyone wants Gasbagarumor silenced at every moment! A cut the conspiracy crap and the shit on MCC. Gasbagarumor has cut off more people than a NY towel-head cab driver and is rude and obnoxious on a good day. Do you honestly believe that this fucking moron had a point and someone prevented him from making it? You must be his secret buttfuck. So, are you the pitcher or the cather on your team? So, quit making shit up to coverup for the incompetence of your lover, you cum swallowing fool.
Love the 8:44 post!
Posted by guest, Jul 09, 2008 9:40PM
Wow. Now we have a doctor in the house? Smells fishy (not tuna or TUNA). You attempt to write like you have some physc training but are very shallow with your sexual references. My guess is that you are the Gasbagarumor himself. Just an observation. And I don't have any idea or Hector or 2:55 or anyone else is here. The above comment just looks totally contrived and there is really only one guy this all points to GASBAGARUMOR!
Posted by guest, Jul 09, 2008 11:11PM
Good try 10:49 aka Gasbagarumor. You never worked for ML. They would never hire the likes of you!
Posted by guest, Jul 10, 2008 8:26AM
Dr. Platt,
As an open and flaming homosexual, I have no idea what you are talking about. I suggest you log on to your university and request a tuition refund for your PHD.
Fondest Regards,
Hector P Valenti
Former Star of Stage and Screen
Posted by guest, Jul 19, 2008 10:23PM
Why all the hate for Gaspy? At least he's right half the time and ya gotta admit, you stop what youre doing when he's on. And no way does it piss off my trading floor when the 2:39 post says Go Liz Claman. We live for that babe at 3pm on Foxy Biz. We call her the Red Fox. She puts Maria and company to shame. Why? she's smart, got laser green eyes, sexy red hair oh and um yeah, those two friends just south of her heart. So you all can pull apart Gaspy, draw and quarter him, but in the end, CNBC is a bunch of hacks who nip and bite at each other with no cred. bye
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Posted by guest, Jul 09, 2008 1:30PM
I "work" with a guy that rode a short on Bear from ~$70 to ~$30. Tried to get back in a couple of days before but could not. Someone knew something.