Erin Burnett ’98 was on “Meet The Press” last week (go to the six minute mark).

For those to busy to view, here is the the passage.

MS. BURNETT: We need more clarity, though, on where these two and a half million jobs are going to come from because, as I say, I think that’s a lot less than a lot of people on Wall Street were expecting to hear out of Obama, maybe a larger number. But if you’re going to talk about restructuring here, you’re going to lose jobs no matter what. And finding some sort of an immediate transition seems to be very important. And if you’re talking about infrastructure, there’s only about $18 billion of projects ready to go that you could really put people to work on. So there is this sort of no man’s land that we’re going to go into where you could have a lot of people looking for work in addition to where we are right now and not really having anywhere to go right, right yet.

Indeed. Steve Sailer makes a similar point.

More Burnett quotes below.

MR. BROKAW: We’re back. We’ve got lots to talk about this morning with Erin Burnett of CNBC; Paul Ingrassia, the former Detroit bureau chief for The Wall Street Journal; Gene Robinson of The Washington Post; and Chuck Todd, political director of NBC News. Welcome to all of you.

Erin, you’ve been around the world and back in the last 10 days or so. You were in Moscow, you’ve been talking to Hank Paulson and other people. Of course you’ve been keeping track of the markets nanosecond by nanosecond because that’s what’s required today. What do you think the response will be, and I always hate that amorphous term, of the markets tomorrow to this announcement that Barack Obama plans a two and a half million job economic stimulus program of some kind?

MS. ERIN BURNETT: It’s so hard to tell what the market will do, you’re right, nanosecond by nanosecond, but if you take Friday as an indication to Timothy Geithner as head of the Treasury, obviously that did cause a last minute surge, and it broke a couple of bad days for the market. So you could say that might be an indication the market would take it positively. Two and a half million jobs, though, really isn’t that many. That would still leave you with a net loss next year, and many people might say OK, that’s good, but not overly ambitious, particularly those on Wall Street who are lukewarm on the idea of a massive infrastructure project. So maybe it indicates he’s being a little cautious on the infrastructure side, and that would be received warmly.

MR. BROKAW: Isn’t the more critical need to do something about Citibank and the other financial institutions that are in free fall?

MS. BURNETT: Citibank is an incredible story. And some reports that I’ve heard is that the vast majority of trading last week was people betting the stock would go down. You look at the cash position of Citigroup, it may be too big to manage, it may be a company with a lot of problems, all of that is true, but that company has $800 billion in deposits. There has been no fear, no fleeing, and to see that institution go down so quickly is truly shocking and, as you said, would be shocking to the Treasury secretary as well.

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