Matt Nesto

Beck Highlights the Sharp Contrast of Two NBC Universal Products – CNBC and MSNBC Reactions over BP Oil Spill
By Jeff Poor | June 18, 2010 | 8:16 AM EDT

The media reaction to the Obama administration's handling of the BP Gulf oil spill crisis has been a mixed bag. But it hasn't been good.

Some are arguing President Barack Obama has gone too far and overstepped his legal authority and some are arguing he hasn't gone far enough with the "boot on the throat" mentality. And on his June 17 Fox News Channel program, Glenn Beck played three separate examples of these differences you normally wouldn't associate with one another - CNBC's Matt Nesto, liberal flame-thrower and comedian Rosie O'Donnell and MSNBC's Ed Schultz.

"Even the people at NBC are noticing maybe something is not right," Beck said.

Beck was referring to comments made by Nesto on CNBC's June 16 "Closing Bell," which Nesto emphasized his concerned over the President's action.

CNBC Reporter Attacks Obama for Creating 'His Own Sense of a Legal System' over Oil Spill
By Jeff Poor | June 16, 2010 | 5:28 PM EDT

There has been a lot of criticism hurled at President Obama over his handling of the BP oil spill. Some on the left are upset the president hasn't been more forceful with the oil giant. Those on the right generally argue Obama's leadership has been inadequate.

Rarely has the president been criticized for specific actions on this issue. But on "Closing Bell" June 16, CNBC's Matt Nesto was asked whether BP acted appropriately by agreeing to the White House's terms by cutting its dividend payments and agreeing to a $20 billion escrow account.

Nesto argued that the administration was circumventing the legal system with such acts. 

CNBC's Bartiromo: 'That is Ridiculous. This Really Sounds Like Market Manipulation to Me'
By Jeff Poor | May 6, 2010 | 5:57 PM EDT

While everyone is scratching their heads and trying to figure out how the Dow Jones Industrial Average (DJIA) lost nearly 1,000 points before rallying back to lose only 347 points - it appears not to be limited to just one stock.

On CNBC's May 6 "Closing Bell," correspondent Matt Nesto explained that investigators for both the stock exchanges and for Citigroup, the firm that some are pointing fingers at for a so-called trader error, have narrowed it down to a futures index called the E-mini S&P 500.

"A person familiar with the Citi investigation said one focus of the trading probes were the futures contracts tied to the S&P 500 stock index known as the E-mini S&P 500 futures and in particular that two-minute window in which 16 billion of the futures were sold," Nesto said. "Again, those sources are telling us that Citigroup's total E-mini volume for the entire day was only 9 billion, suggesting that the origin of the trades was elsewhere."