CNBC is usually sort of like commercial hip-hop for really nerdy people: even if you are totally broke, it is still kind of fun to get in on the giddy clubby lingo of the wealth creating classes, babbling incomprehensibly about the ETFs and munis and benchmark outperformers financing the ice and Benzes and G4 jets of middle-aged white guys and throwing massive tantrums directed at any haters standing in wealth's way. Well okay but not today! It is a decidedly toned-down day on CNBC, because as the Times's Andrew Ross Sorkin already told you no one got any sleep last night and everyone besides Erin Burnett looks like death. But don't let that put you off! As the CIA can vouch, sleep deprivation is like truth serum for some people!And this morning it was worth watching the money network for rare footage of the laissez fairest of all making such uncharacteristic proclamations as: financial stocks shouldn't trade higher than six or seven times earnings, Alan Greenspan was a fuckup, no one has any clue what the hell is going to happen and the whole thing was the inevitable result of a trillion ton stockpile of hubris. Rare real (and real tired) talk from Bush's old plutocrat tax slasher Larry Lindsey, former Salomon Brothers chief and Liar's Poker excessophile John Gutfreund and market-friendly finance journalists like CNBC's David Faber and the Times's Andrew Ross Sorkin when you click the video. Oh also some people wanted to blame CNBC for Bear Stearns' implosion but it is clear from their coverage today that CNBC would never do such a thing on purpose.
