Hinckley wrote, “Not surprisingly, CNBC and FBN both covered pretty much the same stories yesterday, generally with similar perspectives and conclusions.
“CNBC was a little more bullish on the holiday shopping season and a little more cautious about whether rising oil prices are a good thing. FBN spent more time explaining why a weak U.S. dollar is what we want, since it helps the balance of trade.
“But the two channels were on most of the same pagesÂ — agreeing, for instance, that a crash like the one 20 years ago in October 1987 is much less likely today. In the Citigroup story, both channels spent considerable time with explanations that focused more on its implications for Citigroup’s stock price than for consumers.
“In its eagerness to establish itself as the channel for the average person, FBN may have done a little overpromising.”
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