Friday, March 13, 2009

Stewart vs. Cramer - TV the winner

I, like the rest of you, watched Jon Stewart take down CNBC (I don't say Jim Cramer since he's just a face/whipping boy for CNBC and does a show using bells and whistles to make the boring idea of finance TV more interesting and for this I give him a hell of a lot of credit). What no one is talking about is the power of good content and right now the content king is still TV. Sure the video has been watched my millions online and millions more words have been written about it on blogs and websites but the event happened on TV. The Obama Inauguration happened on TV. If you have good content people will turn out in droves.

On an aside, you can't always blame somebody for passing on bad information. CNBC was given bad information from company CEOs and acted on it. The White House, the British Government, the French and just about everyone else was given bad information about Saddam Hussein and acted on it. People lie to survive, make money, and advance. People will be taken advantage of. Does it hurt? Yes. Will we stop it? No, you can't change human nature.

Lastly, when it comes down to it CNBC is not even near the top of the list of villians surrounding this mess. As long as people were making money they were going to turn their heads. The SEC knew what was going on and it did not act. As long as home prices continued to climb who was going to say anything? As long as the stock market rose who was going to stop it?

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