Why Zucker was wrong, and CNBC deserves its criticism

Dan Solin writes on Huffington Post about the recent defense of CNBC by NBCU head Jeff Zucker and why Zucker is wrong and the business news network still deserves the criticism of being a Wall Street cheerleader.

Solin writes, “But the balance of the programming on CNBC is much more insidious. It consists of an unending stream of well-educated ‘financial experts’ pontificating to CNBC’s viewers about the direction of the markets, ‘hot’ mutual fund managers and stocks to buy ‘now.’

“There are no ‘boo-yas’ from this crowd. They talk like serious people whose advice should be followed…until you take a closer look.

“CNBC recently interviewed Michael Katz who runs the Matrix Advisors Value Fund (MAVFX).

“Mr. Katz had a prediction for CNBC viewers. He was bullish on the market and thought that it would start to recover ‘about now.’

“He may be right. But that misses the point. Does he (or any other CNBC pundit) know more than you?”

Read more here.