CNBC's Latest Try At Showcasing David Faber

CNBC has been heavily promoting a new hour-long program, entitled Strategy Session, featuring its very capable and intelligent reporter, David Faber.


Gary Kaminsky, who is, I believe, the retired CIO of Neuberger Berman, is the co-host.

I happened to be around to view the inaugural episode yesterday afternoon. I can't recommend that it is unusually worthy of viewing.

For example, John Mack, former CEO of Morgan Stanley, was the first episode's marquee guest. Others promised this week are also heavy hitters, calculated to pique interest.

Of course, Mack was lauded as the chief of a major....well, commercial bank, now...but once an investment bank. Faber and Kaminsky dutifully hung on Mack's every word and quizzed him on various business topics about which I would venture to say Mack doesn't really have expertise.

What they didn't bother to do was ask Mack how he managed to nearly ruin Morgan Stanley? How his choice of risk and fixed income managers nearly sank the firm? How they took so much mortgage banking risk at precisely the wrong time?

Or even how he managed to get outmaneuvered by Phil Purcell years ago in the ill-advised Morgan Stanley-Dean Witter hookup?

I like David Faber. I think he has a razor sharp mind, good analytical skills, and a desirable penchant for speaking candidly about company behaviors and strategies in solo appearances.

However, as with nearly all CNBC on-air anchors, he clams up and tosses softball questions to real-time, present guests. Like Mack.

The program didn't seem, at least to me, to live up to its hype about giving viewers some inside track on M&A activity, deal strategies, or any other particular financial topic. It seemed to be just another allegedly-specialized, hour-long segment purporting to add value that it didn't.

CNBC has tried, several times, to package Faber on his own in an hour-long format. I regret to say, raw intelligence and candor doesn't seem to have the legs for a daily hour of content of that type. Adding Gary Kaminsky and guests just makes Faber seem like yet another run-of-the-mill CNBC anchor.