No Winners in CNBC’s Tobias Tale

CNBC's special on the life and death of Seth Tobias was about as successful as a levered long position in Bear Stearns, and as satisfying as a $5 dollar sushi dinner. A titillating show at times, but ultimately less exciting than the typical Credit Suisse Conference, circa 1999.

There will be few winners from this sad tale. Seth is dead and his family is seemingly locked out their share of Seth's $25 million estate, due to his failure to amend his will.

But losers abound . Billy Ash, aka Mr. Madam, was left cowering in his apartment threatening CNBC reporter Scott Cohn with a citizen's arrest if he set foot on his property. Andrew Ross Sorkin, who is clearly killing time waiting for the next up cycle in private equity, sullied the Grey Ladies dwindling reputation with his semi-accurate coverage. Debra Opri has unpaid legal bills to collect. And Seth's investors were served up mediocre returns the last years of Seth's life as he spent more time carousing with his wife than managing his business.

And Tiger? He is out of the porn business, and apparently never even met Seth:

The Money Shot


The special was called For the Love of Money, but Scott Cohn and CNBC jumped the shark. And in death, Seth's counterparties were similar to those he met in life on the Street. Liars and cheats.

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