Sunday, March 8, 2009

The Shredding of CNBC

I have always enjoyed watching The Daily Show with Jon Stewart. I am old enough to remember Jon when he was doing social commentary/stand-up back in the late '80s. Naturally, as a commie pinko, I can always appreciate a fellow progressive, but what makes The Daily Show so funny is the manner in which Jon knocks people down a peg who thoroughly deserve it.

Over the past several years, CNBC, as well as Fox Business, and most of the so-called business channels and shows have sat by and watched while our country was stolen out from beneath us by the people they cover. I will never forget the manner in which Enron tried to counter Bethany McLean's piece on the company's overpriced stock, presaging the collapse of the company by the malefactors who purposely ran it into the ground. Business reporting is not unlike sports reporting. You are expected to be a water carrier for who you are covering, with the understanding that if you are not then there will be no future access for the reporter or anchor.

Just watch this now classic piece to see the consequences of this form of 'journalism.'


The irony in all this is that it takes a fake news show to tell the truth and do the job of an entire channel and network of people who have no clue as to what they are doing.

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