Cenk Uygur: The real problem with CNBC

(Huff Post)
I know that Jon Stewart and Jim Cramer have been in a bit of a "fight" lately. Of course, it's not really a fight because Stewart isn't doing this to pick a fight with Cramer or because he doesn't like him. He's making fun of him -- because that's what he does.

Over the last couple of days Cramer and Joe Scarborough have been using (comedian) as a pejorative, but that's the guy's job -- to make people laugh. They are pissed because he's good at it.

But if they think there is a kernel of truth in what Stewart is saying -- which, of course, is why they're actually angry -- they're right. Stewart also wants to make you think about what the role of the media is.

That's not the problem with CNBC. The real problem is their reporting -- or lack thereof. The CNBC reporters and anchors make the Bush press corps look like draconian inquisitors. They are obsessed with access.

I have a close friend who works at a business news station -- and here is the worst kept secret in show business -- it's all about the access. If you piss off the CEOs or the companies, you're going to get a call from your boss. You have jeopardized our relationship with them!

That is very thinly disguised code words for -- don't ever say anything negative about a company we cover otherwise your job is in the trouble. The message is clear -- go along to get along. This isn't journalism. It's public relations by another name.

CNBC never did any exposés about the enormous risks these financial companies took. They never exposed the insanity of the derivatives market. And they never told their audience that the executives of these companies have been robbing their shareholders blind. Because they didn't see that as their job. They saw their job as doing whatever it took to keep Wall Street happy and playing ball with them.

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