CNBC Is Really Taking It Up The Ass

But seriously, they are.

Okay, first we watched this Frontline episode all about the economic meltdown that was a fucking horror show to witness. I'm trying to look past PBS trying to paint a sad picture of Henry Paulson, because I'm fairly sure that hawk is off sipping margaritas by now. Enjoy your personal billions, Hank. No, what really blew my mind about the show was how you can see how much power a rumor can have on Wall Street, especially if it's being shouted about on CNBC. Fox News: Right Wing Republicans as CNBC: Wall Street, savvy?

Side note: Is it weird that I'm attracted to Paul Krugman? What does that say about me?


Then, Jon Stewart ripped CNBC a new one last week when Rick Santelli cancelled on The Daily Show. I saw this Santelli clip when it happened, him shouting about Socialism and bailouts. I felt like punching him in the nads. Then Stewart did. Christ, I will even forgive Stewart's Death to Smoochy haircut for this eight and a half minutes of joy.


Erin Burnett fared a little better with Bill Maher a couple of days later, but this argument about "soaking the rich" is starting to wear a little thin. I may mostly be coming back to this clip because Cory Booker is the shit. Seriously. He's boss.


Look, I'm the first to admit that Economists and Weathermen are basically interchangable as educated guessers. I don't think talking heads are prognosticators. I don't expect Mad Money to be my primary source of financial advice (I actually can't even watch it and I usually like shouting). But it is interesting to examine the culpability of a NEWS NETWORK in a financial crisis when they are not just reporting news but shaping it. Bear Stearns went down on a fucking rumor. I could hire twenty great actors and put them in suits and have them stand down on the street outside of the CNBC offices where all the smokers gather together and just start a crazy rumor with people talking on cell phones and speaking in confidential tones. It. Could. Happen.

So anyway, I get all pissy about this kind of thing all the time. So, then I watch this video again and all is right with the world.