Monday, December 22, 2008

CNBC and the eight person cage match


Is it me or is CNBC plumbing new depths in childish behaviors lately. Normally I am glued to the screen however I find it particularly painful to comprehend what they are saying these days.
Firstly, Joe Kiernan is a f*cking idiot. I was hoping that a business show could keep its head above water on the election. He felt inclined to spout his political drivel every morning. Now he just sits there and sulks like a little baby everyday. I hope that they find a way to replace him soon because he is just downright depressing. Eight years of his bad attitude will turn many people, including me away.
There are few people that have any credibility left on that show. I favor Steve Liesman. I think his analysis of the markets and the economy is sound and accurate. My problem is that yon virtually see the producers waving frantically at him to dummy down his spiel so that the alpha male Neanderthal day traders can actually figure out what stocks they can short that day. Steve, if you are reading, stay smart, stay sharp, and continue to explain how the economy works. It is becoming abundantly clear that the vast majority of willing to put their money in the markets lack the basic understanding of the economy and markets.
The other person I still respect is Becky Quick, although the name fails to match the persona. I see a shrewd journalist that has the whole package (brains and beauty), I cringe when I hear he called Becky, for some reason I picture a freckled kid with pony tails.
David Faber, The Brain, still has journalistic credibility. He has reverted to actually reporting on things which is much better than what the other do which is spout off whatever catch phrase comes to mind next.
The absolute worst creation is the eight person Power -Lunch -Hollywood -Squares presentation that they do. My favorite (not) is watching them all be so eager to say their piece that they completely talk over each other. Each one of them trying to squeeze in the next zinger and get the last word.
My sense is that I am not the only one deciding to switch CNBC off . Why else would they hype the melodrama of the competition between Maria Bartiromo and Erin Burnett. Sex sells. Women fighting sells more. About the only thing left that would increase viewership is to throw some Jell-o on them to see them finish each other off.
CNBC has failed the basic test of journalistic integrity. Never be so self absorbed that you stop reporting the news and become the news. Each of these characters, except the ones I called out specifically have so visibly had their egos inflated they actually relish the idea that what they say moves the markets and can create or destroy fortunes. I just want the news and for me, that means switching to Bloomberg.
They will surely credit their demise in ratings to a falling market- who wants to hear bad news? They’ll miss the boat. They will actually get crushed by the weight of their own inflated egos. The show still lacks any parental supervision.

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