CNBC, the broadcaster that so graciously gave Bill Gross near endless airtime to propagandize for an unfettered bailout of all debt holders of Fannie Mae and Freddie Mac, permitting his company PIMCO, the nation's largest bond trader to clear between 1.7 and 1.8 billions in profits on the backs of American taxpayers, is at it again. This afternoon at around 2pm (please see "CNBC's Fawning Coverage Helping Bond Billionaires Fleece Main Street," 09.15.08) Gross has been invited back on CNBC to give his insights on the current bailout plan.
Question: will he be asked to reveal his book and will he be asked exactly how the bailout will impact his fund's bond holdings, and to what degree of profit? Or will he simply be given free rein to lecture us about the stormy seas ahead and what needs be done for PIMCO's sake -- oops, sorry, I mean for our sake.
By the way, for those who were listening, Warren Buffet was on earlier this morning on CNBC. Now there is someone worth listening to and who plays with an open deck.