WESTCHESTER COUNTY, N.Y. (TheStreet) -- What's billions of dollars and ten months between friends? At issue here is Morgan Stanely ( MS), which has enough problems without the business media and their maddeningly vague ways.Just look at The New York Times ( NYT). Every trader and their brother has been worried about Morgan Stanley's exposure to lame French banks. As such, getting a bead on Morgan Stanely's precise condition regarding French banks is essential, to say the least. This is what the Times told us, which was insufficient: "One filing that quickly gained attention in the market revealed that Morgan Stanley had one of the biggest exposures among Wall Street companies to the ailing French banks -- about $39 billion at the end of last year, before factoring in offsetting hedges and collateral. Morgan Stanley has not provided investors with more up-to-date information." What's wrong with this passage? Two big things, both of which The Wall Street Journal ( NWS) addressed. For one, while referring obliquely to an underlying number, the Times did not distinguish between gross and net numbers here. The Wall Street Journal does, rightly adding that there has been considerable "confusion." Moreover, the current "net" number, which factors into the items referred to only quickly by the Times stand at roughly zero. Secondly, The New York Times is trafficking in a gross number that is 10 months old. Though the Times said it was impossible, the Journal dredged up a more modern gross numbers which--wouldn't you know it--was half the size of the one culled from the end of 2010.