Guido – I should probably have said the value of its shares fell 48% in after market pricing, or some similar gobbledygook. As your other commenters point out the issue of whether there is a futures “market” is philosophically moot. Unfortunately the words “futures market” were in a piece of paper printed off into my hands literally as the 5-strong team of makeup women and masseurs was prepping me for my live appearance and seconds before we went on air. The words “futures market” entered my brain while I was puzzling whether the 48% fall really mattered in such an illiquid market. But hey, guys: if you think I sound like a hysterical Trot, you should listen to McCain!
Fair enough. Guido is in no position to criticise someone for screwing up live on Newsnight…
There are electronic markets where stocks trade after hours. Perhaps that is what he meant? With Newsnight’s market reporting you just never know.
It does seem odd to have a Trotskyite sympathiser as the business reporter on the BBC’s flagship news and current affairs show. It is all very well him briefing his comrades tonight on “The Recession – What does it mean for us?” (Suspect it will mean that capitalism is in terminal crisis since it has always been according to the Trots who sell newspapers).
Guido just wishes Comrade Mason would concentrate less on supporting the workers revolution and more on making sure that Newsnight manages to reliably report whether the FTSE is up or down on the day. How hard can that be?
UPDATE : Ooh – Crick says people really are “pissed off”.