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XMFSinchiruna (27.83)

Squawk's Dishonorable Media Circus

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October 07, 2009 – Comments (4)

Is anyone else blown away by the new low to which the financial media has sunk? I just flipped on CNBC to get a live gold quote, and thought I was catching C-Span-like coverage of a Congressional hearing on the economy .... only to discover that it's actually the Squawk anchors sitting below the participating reps in a collective interview designed to mimic a congressional hearing.

If I'm not mistaken, the panelists were just caught on tape playing make-believe ... pretending to be representatives of the people.

Oh great oracles of our financial future sitting up on high, please grace us peasant-folk with your mighty plans for dressing a compound fracture with a band-aid!

What an unbelieveable circus act! I feel nauseous.

Whatever it takes to keep the thin veil of optimistic spin lain over an untenable financial quagmire...

We don't need our media to place politicians on a pedestal for us, they're plenty proficient at doing that for themselves.

Pure theater!

4 Comments – Post Your Own

#1) On October 07, 2009 at 9:21 AM, pastordisaster (< 20) wrote:

+1

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#2) On October 07, 2009 at 9:25 AM, brickcityman (< 20) wrote:

Yeah when I looked at the futures this AM I was disgusted by that too...

 

But this isn't the first time they've done it and one also has to wonder why they are seemingly the only ones to do it... 

 

Is it that their parent company has an undue degree of access and cooperation from the representatives that participated (as well as those that helped secure the use of the room)? 

 

I'm all for turning the tables and letting people in the audience ask the questions when it comes to our "esteemed" representatives, I just wish this precident was set with people who knew anything about how to ask a probing question or at the very least expressed some kind of desire to do so.

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#3) On October 07, 2009 at 10:29 AM, biotechmgr (36.09) wrote:

Corporate ownership of the media has corrupted it altogether. Will the bear market wipe away this spot of tarnish eventually? When people are sick of stocks, they will be sick of Squawk. We can only hope as well that people will be sick of the media ownership by the corporate oligarchy running things and give GE and Disney the boot from owning the news.

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#4) On October 07, 2009 at 2:33 PM, Tastylunch (29.29) wrote:

Is anyone else blown away by the new low to which the financial media has sunk?

sadly no I'm not.

I gave up on CNBC in the 90's when they started to trumpet the whole valuation doesn't matter thing.

It does seem like over time in the 24 news cable news hour era, since there isn't enough huge stories to fill the day (well stories the talent understands anyway) that they all eventually start playing the hypothetical game.

If you ever want a painful experience watch any of the legal shows (nancy grace, great van sustern etc). All they do is conjecture about crap all day long. :(

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