OLD Media Moves

CNBC still trusts Cramer

March 23, 2009

Brian Stelter of the New York Times writes Monday that business news network CNBC continues to run the “In Cramer we Trust” commercials for “Mad Money” host Jim Cramer despite the drubbing he took on “The Daily Show.”

Stelter writes, “CNBC declined to comment on the commercials. But the network has aggressively defended itself from the complaints of Mr. Stewart and others that it had inadequately covered the origins of the financial crisis. Last week Jeff Zucker, the chief executive of NBC Universal, told attendees of an investors conference that ‘to suggest that the business media or CNBC was responsible for what is going on now is absurd.’

“In a statement Friday, the network said that it is ‘built for balance’ and said that ‘since the crisis began the most notorious bears have appeared regularly to debate the most prolific bulls.’

“‘If people are looking to pass out the blame, there are numerous offenders who are way ahead of the media: the lenders, mortgage brokers, speculators, legislators and regulators, who have billions in budget and thousands of employees,’ the statement said.”

Read more here.

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