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CNBC, Oil Speculation and a Factor of 1000

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How much can a media outlet simply fuck up a story?  How about this:

Go to CNBC.com and find the story about President Obama's plan to rein in speculation in the oil commodity market.  According to CNBC, it is a $52 billion plan.

$52 Billion!!!  

That could buy about a dozen aircraft carriers!!  It could fund the school I teach at for over 2100 years!!

The real cost is $52 million.  1000 times less than the CNBC story.  The NY Times and Bloomberg report the correct amount.  After five or so hours, they haven't made the correction.  


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