The Hypocritical Mainstream Financial Media
July 23, 2009 – 1:42 pmThe mainstream financial press is outed and they are going after the bloggers. Yes, that’s right. The scum in the mainstream media are now going after the bloggers, the very people who were ignored when they got it right about the housing and credit bubble. You gotta be able to stomach a whole lot of hypocrisy to do this little skit on CNBC.
None other than CNBC the home of Jim “No Bear Stearns is not Insolvent” Cramer, Larry “there is no housing bubble” Kudlow, and every stock-pushing fund manager with a losing portfolio to unload is attacking the bloggers. Why doesn’t CNBC disclose that all those mutual fund managers they have on PAID for the airtime. That’s right. What they disguise as a financial news story or interview is in fact an advertisement for that mutual fund.
I could go on, but Tyler Durden at Zero Hedge does a much better job. Here’s a snippet:
Charlie, here is a primer on how blogging works (and no Steve, it is called blogging, and not reporting, just because of the following) – it is feedback driven: if a blog does provide false and misleading…
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