Critic: Time to rein in Cramer, Velshi

Baltimore Sun television critic David Zurawik writes Tuesday that the business media should do something to control what advice commentators such as CNBC’s Jim Cramer and CNN’s Ali Velshi tell people about the market.

Zurawik writes, “I really believe American business journalism can do better — and we have never needed it more in recent history. Does anyone remember Louis Rukeyser? (Here’s an obit I wrote about him in 2006.) He had his quirks and conflicts, but wouldn’t it be nice to have him on PBS today?

“I wrote last week about Velshi’s flawed performance as lead correspondent on CNN’s breaking coverage of the rejection of the Wall Street bailout plan by the House. He was all opinion and few facts — insisting in a loud and excited voice that the bailout plan must pass or a financial crisis would immediately follow.

“I posted before Velshi really went off and got in a shouting match with another talking head who dared to disagree with him. Financial experts appearing out of control are not what we need to see on TV these days. For contrast, think of the calm, measured tones in which BBC has reported the economic turmoil abroad.

“And now comes CNBC talk show host Jim Cramer, appearing on the Today Show Monday telling viewers to get out of the stock market as fast as they can.”

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