FixCNBC.com

The liberal group Media Matters for America has a new website up, fixcnbc.com, which is demanding changes at CNBC.

You screwed up badly. Don’t apologize – fix it!
CNBC should publicly declare that its new overriding mission will be responsible journalism that holds Wall Street accountable. As a down payment, we ask you to hire some new economic voices – people who have a track record of being right about the economic crisis and holding Wall Street executives’ feet to the fire.

Oh boy. Neither CNBC nor Jim Cramer are responsible for the credit crisis. If you think they are, then you don’t understand the crisis.
The idea that they need to hire “people who have a track record of being right about the economic crisis” is laughable. No economist predicted what happened because no economist could have predicted it. Some people got parts of it right, but were way off on many, many other aspects. And being right on one prediction doesn’t mean much about your next prediction.
One more thing. You can only ask for a down payment if you own something and someone else wants to buy it. Ironically, it was people who didn’t understand the concept of a down payment that Media Matters should be upset with. They can blame themselves.

Posted by on March 16th, 2009 at 4:52 pm


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