Something odd happened this week; an issue that has been bubbling just below the surface of consciousness came up, but will probably be forgotten in a few weeks.

I never could understand financial news shows. You had hosts on these shows talking about buying and selling stock, never with any rhyme or reason. Like reporters covering the political scene, many of the financial reporters and pundits were so in bed with their subjects it seemed impossible for them to be objective.

Well, this week Ken Cramer was called to the carpet by none other than John Stewart, he of the comedy show The Daily Show. It's remarkable that a comedy show would be the conscious of the nation but that seems to be the case. Reporters applauded his boldness in asking the tough questions and pundits were pleased that he voiced the concerns of the people, yet very few of the reporters and pundits put the glaring spotlight on themselves.

Ken Cramer, CNBC and the other financial shows all promoted the reckless view that stocks could only go up and you should buy everything. Even in the face of economic decline they said to buy. In a telling scene, Stewart showed where Cramer said people should buy stock in a financial institution that was one of the first to fall due to the banking collapse. Of course, Cramer had interviewed the owner of the company who said everything was OK, so he took it to mean everything was OK.

Now, I believe what will happen is Cramer will be the poster child for the arrogance of reporters and the larger picture will be ignored. How can you cover a story with an objective, and some would argue, with a healthy dose of skepticism if you party with them and play golf with them?

We need a press, a pundit class, some group that is looking out for the majority of folks who honestly just want to get ahead in life but have no clue how to do it. They will fall for some 'expert' telling them what is right instead of listening to their gut or being told the plain cold facts. There are people every day who call our company, linked up to get rich quick marketing plans that don't work. They're blinded by the potential money, lured in by the easy street mentality that they're willing to pay hundreds of dollars on a scheme they know little about. While I might be willing to let those folks get weeded out (that's is something the Darwinist among us would say) there are so many of them we can't let them destroy things for the rest of us.

Reporters didn't do their job in this and many other cases in the past few years. While so much concern has been on pseudo celebrities and their foibles, the banks, Bernie Madoff and others have been slowly ripping of the citizens of this country and getting away with it. When we wonder how did it happen we have to look at the watchdogs of the press and wonder why they weren't looking into it. With all these issues going on, FoxNews, CNN, MSNBC and all other news channels are more concerned about missing children, missing women and battered stars than the real crisis many Americans have about losing their jobs and savings. Until this changes, yes we're probably going to have odd people like Stewart who will be uncovering wrongs in this country while reporters wonder how they missed the story.


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No One Watching the Gates - Mar 14, 2009
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