CNBC Gaffe Sets Tongues Wagging

Do you laugh when you hear references to the Plunge Protection Team? How about the Working Group?

Policy makers are no doubt trying to pull a rabbit out of their hat while the markets remain at Defcon 4. Investments by sovereign wealth funds cannot prop this market up indefinitely. Is something bigger in the works? 

Today on CNBC Charlie Gasparino weighed in with his latest report from the trenches. While we are at it, we do have pay Charlie a compliment. His reporting throughout the crisis has been terrific. But conspiracy theorists might be working overtime today trying to figure out if there is a bailout of sorts brewing in Washington.

But Charlie’s appearance was notable fot something else. CNBC ran a headline, Treasury Dept. Getting Frustrated With a Slow Pace of Superfund, a reference to the SIV Superfund that is apparently going to managed by BlackRock. But they ran another headline, Treasury Dept. Considering Similar Bailout to the 80’s and 90’s

Does Charlie know something you don’t know? . But it is suspicious, particularly coming on the heels of yesterday’s breathtaking rally. We are always the last to know, and don’t have a clue. But as they say, where there is smoke, there is fire.

Is a historic bailout in the works? Or is it just a screwup by the channel?

The Treasury Dept. seems to be mum. Is there a news embargo in force? Maybe it is nothing, and Charlie did not really speak to it.

Bill Gross has been advocating a RTC like bailout. Maybe something big is indeed in the works.

-Stockjockey reporting from Roswell

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