One thing that has been obvious today is that our networks and cable news channels are completely inadequate to the task of covering a story like this weekend's Lehman Brothers negotiations. CNN, MSNBC and Fox News all remained steadfast in their political coverage. We couldn't imagine a weekend when we were less interested in listening to Barack and Joe, John and Sarah and all their surrogates trade mostly-dull "barbs" over policy issues. Bloomberg TV broadcast prefab news for most of the day, with hourly updates today. CNBC didn't broadcast any new content yesterday, and is right now showing an infomercial entitled "Houses for $300," which seems unhelpful.
Fortunately, that's about to change tonight. Starting at 8 PM ET CNBC will run a "Special Report" about the fall of Lehman Brothers. It will be anchored by Dylan Ratigan and Melissa Lee. Special will include reports from CNBC Global Headquarters from CNBC On-Air Editor Charlie Gasparino and CNBC Senior Economics Reporter Steve Liesman. It is scheduled for one-hour, but might go longer depending on breaking news.
Posted by guest , Sep 14, 2008 5:00PM
I love Melissa Lees. Wooohoo!!
Posted by guest , Sep 14, 2008 5:01PM
I love Melissa Lee. Wooohoo!!
Posted by Seaman Bodine , Sep 14, 2008 5:05PM
cover or not cover - same amount of useful data
Posted by guest , Sep 14, 2008 5:08PM
oh great - Gasparino on the case- did he take his blotter of acid ?
Posted by guest , Sep 14, 2008 5:12PM
Pre-paid advertising......so the scheduled shows have to air. But then again as far as everything else goes it's all about money too. Love used to make the world go around now it's $$$$
Posted by guest , Sep 14, 2008 5:13PM
Bloomberg TV has hourly updates on LEH and the BofA-Merrill $25/share merger announcement all Sunday....
Posted by John Carney , Sep 14, 2008 5:20PM
Yeah. Bloomberg has had updates, that's true. We'll give them credit.
Posted by guest , Sep 14, 2008 5:22PM
I'm surprised that they would rather take the ratings hit over putting on a special report with talking heads all day - where is the "breaking news" that they interrupt everything for?
I have been channel surfing to get any kind of analysis - but there is none. info-mercials all day. I can't believe they would make more money from them over live coverage of LEH and BoA/Merrill
Posted by guest , Sep 14, 2008 5:33PM
Well, maybe not bloomberg, but the rest of the stations play to the entire country, remember? The news stations know that the big stories for most of the country are Ike and the candidates, even know. Most Americans didn't know what Lehman Brothers did last week, and they still won't know next week. And the scary part is, they couldn't care less.
Posted by guest , Sep 14, 2008 5:43PM
the problem is that the "guy on the street" has no idea what any of this means.
Posted by guest , Sep 14, 2008 5:44PM
I get the impression that there really isn't that much to cover at this point. The details of the negotiations are patchy, and the consequences are just too unpredictable.
Posted by guest , Sep 14, 2008 5:52PM
Vietcong would vote for McCain!
http://online.wsj.com/article/SB122127000539031163.html?mod=googlenews_wsj
Loose lips sink ships.
Better off dead than red.
Love your mommy, kill a commie.
God Bless America.
Posted by guest , Sep 14, 2008 5:56PM
CNBC programming is "Ripped in 90 days". A weekend like this one could easily get ripped in, say, 20 minutes.
Posted by guest , Sep 14, 2008 6:00PM
Why would it be scary if people in middle America don't know what Lehman Bros. is? This is the same egocentric Wall Street mentality that led Df to think that his firm would have to be bailed out. No one cares!
Posted by guest , Sep 14, 2008 6:08PM
this chinawoman chick on bberg is really fucking annoying. meanwhile, cnbc has "look thinner instantly" (check it out -- about as believable as leh being worth something.) sham-wow!
Posted by guest , Sep 14, 2008 6:11PM
@14...It's scary because the collapse of LEH or other banks would affect the financial system in ways that would be felt in in flyover country. Dumbass. Go back to Kansas.
Posted by DrederickTatum , Sep 14, 2008 6:34PM
TV lacks the flexibility of the blogosphere... Seriously, Carney... Its a credit to this website - You've been among the most effective media sources out there.
Viva la blogosphere!
Posted by pdtrading , Sep 14, 2008 8:14PM
The media is pretty much clueless about what's going on in the financial markets - and has been clueless for a while, so I wouldn't expect it to be any different right now.
By the way, great coverage this weekend. Dealbreaker has been, far and away, the best place for news on this unfolding debacle.
Posted by guest , Sep 14, 2008 11:41PM
# 15
i don't know what's your nationality, maybe an Indian head, but "the chinawoman chick" is bad English.Don't report words with the same meaning as woman and chick have the same meaning.Also, if you are not sure about someone's nationality in Asia, you may either say Oriental or Asian otherwise you sound like you didn't finish Grade One or hardly.There's no such "Chinawoman" but Chinese woman
You said "fucking annoying" = that is if you don't know financial market's ins and outs.
Posted by guest , Sep 14, 2008 11:46PM
# 19
i agree.
# 15
don't share with someone your Moron Beer.