The Blame Game Needs To Include The Media

What a terrific sparring match we are witnessing now as The Daily Show’s Jon Stewart squares off against CNBC’s Jim Cramer-and everyone else!

The clip of Stewart’s crusade is below-over 8 minutes of ranting against the personalities who we see every day on CNBC-and who influence our collective market behavior-perhaps more than market fluctuations themselves!

The crux of the matter lies in the hypocrisy of the media----supposed watchdogs on our behalf—as they point fingers at everyone from CEO’s to politicians over the demise of our economy. Stewart’s simple question is worth an answer:

“How come the dedicated financial network didn’t see the trouble on the horizon”? “How come they didn’t warn the American public of the impending meltdown”? After all, they are the “experts”, no? They bragged about being on the “inside”---maybe TOO MUCH inside.

Watch the clip and enjoy:




http://www.youtube.com/watch?v=LXlFnYV0y4M

Unlike many other issues where the media merely reports the goings on of politics and our elected officials, this seems like a case where CNBC was unknowingly complicit in the crisis by:

a) not seeing the warning signs or
b) seeing them and not reporting them or
c) either a) or b) combined with a healthy dose of bad “advice” for the public
d) all of the above

In a world where there is plenty of finger-pointing, CNBC has to admit its own role in deceiving the American public—whether through ignorance or as the byproduct of being sucked into the vortex of the “old boy network”-where access to the CEO’s would be compromised if the really tough questions were actually asked and pursued.

CNBC may now stand for: Cowards Not Being Candid.