The Cable Gamer has noted the paradox of CNBC hosting a few noisy conservatives (Larry Kudlow, Rick Santelli, and Mark Haines), plus some other liberal Obama skeptics (Jim Cramer), while at the same time, sister company MSNBC panders to the Obama administration and parent company GE curries favor with the TARP Lords at Treasury. How long could GE CEO Jeff Immelt tolerate such diversity of opinion?
Answer: Not for too much longer. The straws are already in the wind, as noted by Jeff Poor, of the Business and Media Institute at the Media Research Center. In an important piece, headlined, "Liberals Complain, CNBC Caves In/Business network goes from inspiring anti-tax 'tea parties' to adding left-wingers like Dean, Huffington," Poor outlines the transformation--which is, of course, a sellout.
With the economy suffering a steep downturn and a new hands-on approach by the federal government to correct it, financial news outlets have received increasing scrutiny. None more so than CNBC.
The cable channel, along with its left-of-center sister network MSNBC, operates under the umbrella of NBC Universal. One openly liberal NBC network apparently isn’t enough. The left – from the White House to think tanks to bloggers – has targeted CNBC because of its traditional pro-investment point-of-view. After a few weeks of criticism, the network seems to be taking the criticism to heart and making a big left turn.
CNBC went from comparing President Barack Obama to Lenin in January to saying he was “pro-shareholder” two months later. The network that inspired anti-tax “tea parties” and criticized the Obama administration as economically destructive became the same one that features Howard Dean as contributor and Arianna Huffington as a guest host.
The whole of Poor's piece is a must-read. So is the BMI, and so is MRC.
So sayonara, CNBC. You had a moment when you were hot, but then you sold out. Or more precisely, you were sold out by your bosses, and when you got the order to veer left, you saluted and did what you were told. That's good order-following, but it's bad journalism.
