CNBC anchor accuses politician of tanking market — by appearing on CNBC

Michelle Caruso-Cabrera

Evan McMorris-Santoro of Talking Points Memo writes that CNBC anchor Michelle Caruso-Cabrera accused an Arizona congressman of making the stock market drop because he decided to appear on CNBC.

McMorris-Santoro writes, “Rep. Raul Grijalva (D-AZ) tanked the market, she said, by refusing to budge on his contention that Medicare cuts should be off the table in negotiations surrounding the so-called fiscal cliff. Democrats accused the anchor of trying to ‘shame’ them into cutting entitlement cuts by directly blaming Grijalva’s words for the market’s decline.

“Grijalva, co-chair of the House Progressive Caucus, appeared on CNBC to talk about the debt talks and his view that it was unfair to talk about Medicare and other entitlement programs when Republicans remain publicly unwilling to significantly increase government revenues.

“Caruso-Cabrera said Grijalva’s words were literally hurting the economy in real time. It’s something that’s happened before when members of Congress appear on the air, she added.

“‘Representative? You know what, as we’re talking the market is selling off once again,’ she told Grijalva. ‘Every time members of Congress come on, and I’ve got to tell you sir, I think you’re contributing to the fears that we’re going off the fiscal cliff because it doesn’t sound like there’s any compromise in what you’re saying. Do you care that markets are selling off dramatically when it looks like you guys can’t come to a deal?'”

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Sandi says:
November 28, 2012 at 1:16 pm
Why is growth suddenly so important? Zero (0) growth from 01 - 09 with lone exception of 05. That we are finally growing is nothing short of a miracle to the 110 Mil adults (over 18) live on $50,000 a YEAR OR LESS. Taking away goods and services on over 100 million real people to give to real cash to the already rich. The people who's "work" is turning real money into "air money". Cash that is inflated by interest added & futures investing. Need cash? Sell the air money to someone else who is willing to give you real cash for it. Then turn around and do it again. Just hope nothing goes wrong. BUT, if it does don't worry tentacles are so far reaching that governments around the world will be forced to cover your ass.
Governments are in place to see that ALL the citizens of it's country have access to necessary goods and services other can afford on their own. Corporations are in business to create wealth for their investors by every means possible.
This is where trickle down economics kicks in. Governments responsible for corporations, who are people too. Governments get pinched, they are forced to cut back to pay for your bad judgement. Loop it and do it again.
Geoff Lewis says:
November 29, 2012 at 10:03 am
Delusional. This is part of the CNBC self-referential PR positioning: We move markets. The conceit is that smart money is glued to to CNBC and is trading on the fantastic insights spilling forth. It is ludicrous. (Ditto for other media outlets, including Bloomberg, btw)