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Jon Stewart Slams CNBC
In recent posts, my column in Financial Advisor, and at the Financial Crisis Webinar Series I've suggested that advisors stay away from CNBC's flawed coverage of the global economic crisis.
Reading print coverage in Financial Times, The Wall Street Journal, and The New York Times is much better because the print reporters organize their ideas in writing. Then they rewrite their copy and get edited.
Plus, print reporters can find the best experts around the world and summarize their most important ideas. They do not have to rely on sources who can get to a studio.
Moreover, unlike TV reporters, print reporters aren't pressured to provide instant analysis or instigate shouting matches.
My criticism of CNBC is mild, however, compared with what Jon Stewart said on The Daily Show Wednesday night.
Stewart is totally on the money, something you can't say for CNBC. If it wasn't true, Stewart's scathing rant would be even funnier.
