OLD Media Moves

Business journalists with axes to grind

March 3, 2006

Bill Cara, who writes a blog on the market, has an interesting post about what he sees on CNBC and how that is perceived by Wall Street.

Cara writes: “Te whole group on Kudlow tonight was super bullish. I’m saying that having only caught the last ten minutes of the show. But do you don’t have to watch any more to see that it’s the same old people with the same old ideas – American bond’s are always great, American stocks are always great, the U.S. Dollar is always great, the French, the Russians, the Chinese (etc) are always bad, the bears are perma-bears / naysayers, yada-yada.

“On TV, there is this type of talking head, and then there are the people like certain CNBC personalities who act like they’re the center of the universe, trying to engineer the news. What the buy-side needs is an independent and objective media – people with high journalistic standards who don’t have an axe to grind.

“And then when they opine that the bulls (or the bears) are on the run, and how and why, and so forth, then we might tune in to the whole show. And we might learn something.”

Read the post here.

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