Categories: OLD Media Moves

The Ambac rumors on CNBC

Barry Ritholtz writes on his The Big Picture blog that he wonders who fed CNBC reporter Charles Gasparino information about the bailout of Ambac Financial that turned out to be false.

Barry RitholtzRitholtz wrote, “Then we learn that the deal was dead, and that Ambac needs to raise $1.5 billion dollars. Thus, all of those rumors and CNBC appear to have been patently false.

“But here’s the question that keeps coming up: Who are the people leaking this information? And, is this legal? Now, we have learned that all of these attempts at manipulating the market were based on rumors that proved to be false.”

Later, he wrote, “CNBC reporter Charlie Gasparino has repeatedly caveated this to death on any of his reporting: He recommended people be ‘cautious’ about trading on the latest rumors, and specifically noted that a deal has been rumored to be ‘close’ before and none had come to pass.”

Read more here.

AddThis Website Tools

Recent Posts

WSJ names Tran director of content strategy

Vivyan Tran has been named director of content strategy at The Wall Street Journal. She has…

4 hours ago
Boston Globe seeks a transportation reporterBoston Globe seeks a transportation reporter

Boston Globe seeks a transportation reporter

The Boston Globe is hiring a transportation reporter to cover our public transit system, Greater…

5 hours ago
WSJ names Dubouis director of strategic initiativesWSJ names Dubouis director of strategic initiatives

WSJ names Dubouis director of strategic initiatives

Kevin Dubouis has been named director of strategic initiatives at The Wall Street Journal. He has…

5 hours ago
Insurance Insider hires Bangalore as a reporterInsurance Insider hires Bangalore as a reporter

Insurance Insider hires Bangalore as a reporter

Insurance Insider has hired Sanvi Bangalore as a reporter. She will start in May. Bangalore interned for…

5 hours ago
How a Gulf financial news startup collapsedHow a Gulf financial news startup collapsed

How a Gulf financial news startup collapsed

Kelsey Warner of Semafor writes about Moniify, a financial news site backed by an Egyptian billionaire,…

7 hours ago
Bloomberg News, WSJ among the IRE award winnersBloomberg News, WSJ among the IRE award winners

Bloomberg News, WSJ among the IRE award winners

Bloomberg News and The Wall Street Journal are among the winners of the 2024 Investigative…

7 hours ago