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CNBC Gets It Right. CNN Not So Much.

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Okay. So this is a bit meta. But while we're waiting for Ken Lay to be let out of the courthouse--apparently he's standing in prayer circle with his family--let's take a moment to note that CNN's coverage in the hour long build-up to the Enron verdict was basically premised on the idea that an early verdict meant there would probably be an acquittal. The bald dude they had outside the courthouse definitely predicted that the less long than expected jury deliberation meant that they were going to acquit. As it turns out, that's not exactly right. Or right at all.
CNBC got it right. Largely thanks to having former SEC boss Harvey Pitt on air, the impression conveyed by CNBC was that the early verdict meant that the jury had found Lay and Skilling guilty. We like to poke fun at them around here but they definitely made the right call here.