At about 2:40 into this interview, CNBC's Michelle Caruso-Cabrera and Charlie Gasparino share some knee-slappers (at least in their opinion) that belittle finance blogs. Something about "moronic bloggers" being a redundant phrase and changing the "Zero Hedge" blog title to "Zero Intelligence." Even though these two seem to think they're the smartest people in the room, you can't help but get a sense that something deeper is at play with their criticism that probably has to do with the mainstream media continually losing share to blogs and other media outlets.
Those of us who have actually worked on Wall Street in a real trading room know that Tyler Durden and the other bloggers at Zero Hedge are for real and know what they are talking about. For real business news on tv, it's boring old Bloomie by a mile...
Posted by: tendollartommy | July 22, 2009 at 06:09 PM
Yea Wow - he is obviously well read...
Posted by: Vintage Filings | July 22, 2009 at 07:40 PM
Wow Michelle is a total knob. How pathetic.
Posted by: Joe | July 22, 2009 at 07:46 PM
I see very little substance on the Zero Hedge blog, just a lot of conspiracy theories and sensationalism. And almost every other post is about Goldman Sachs and their evil HFT programs.
Posted by: Cool | July 22, 2009 at 08:00 PM
not to mention that mr. zero has been dead wrong on the market for months
Posted by: b | July 22, 2009 at 09:04 PM
What gets me about Gasparino is he acutally thinks he is a journalist. He drinks some beers with a buddy who gives him some scuttlebutt about a company and Gasparino reports it as breaking news. Maybe he asks another guy at a different bar for his second source, but CNBC should require his stories be fact checked before airing them.
Posted by: Kirk | July 22, 2009 at 11:37 PM
That is something. Thanks for the post. The fact is this: if you are in the business, you know (or at least should know) who is credible and who is not almost the minute he or she speaks. You should be able to differentiate almost immediately. There are many high quality bloggers out there. CNBC is doomed to a life of leading sheep off the cliff. I'm in the business and I rarely watch it.
Posted by: Mike M | July 22, 2009 at 11:46 PM
If you look in a Pictionary under "Arrogant", you will Caruso-Cabrera's fugly mug. Gasparino would never have panned Durden if his last name ended in a vowell. Btw, mine does, but I don't engage in ethnic wars (& selective defense) like Charlie "o" does.
So are YOU going to say anything about this subject on YOUR next CNBC guest appearance ??
Posted by: dave | July 23, 2009 at 02:11 AM
Gasparino lost his touch long time ago as all his buddies were laid off :)
Michelle = she is for her looks on TV, not for her brain
CNBC = not to be taken serious ... IF, then Bloomberg
TV= past BLOGS= present and future
Have a good day!
Posted by: Oliver | July 23, 2009 at 02:57 AM
This is like the parasite throwing a fit because it killed its host. Quite possibly a symptom of excess greed.
Without a doubt as of late many financial blogs have proven themselves to be great contrarian indicators with regard to market direction. Then again, some might argue that same could be said for mainstream media through 2008 (not to name any specific TV show hosts).
I personally don't like to get my financial news from a comic book as I find it insulting to my intelligence. As the Bespoke post implies it seems all too obvious that mainstream media is perhaps feeling the heat of competition from independent media.
While I certainly do not wish for the corporate factions to resort to more draconian measures in order to ensure that the masses remain managable, I remain skeptical of several major publications or networks that may have abused their reputations for financial gain through the crisis.
Psychological operations will surely always abound, particularly in finance and course of empire. I only hope that any reinventions of major outlets to disguise themselves are seen through. I can think of a few blogs and even "alternative" radio programs and guests which might fit this mold. Another "hope" is that major outlets will somehow begin to take a more fair perspective and act with ethics in mind for the duration of their existance.
A large media mogul himself stated the he felt the need to regain the public's trust some time ago. We all make bad calls from time to time but it seems hard to believe the mogul's publication actually made an awful "Buy GM" call. Well media mogul, if your wife cheated on you and took your wallet would you take her back, or would you kick her to the curb?
Perhaps the mantra that there is "one born every minute" will play out in time and revenues will begin to flow again. In the meantime it is painful to see long lived large corporations with powerful influence resorting to ratings acheived with specials about p*rn and drug use while bashing purveyors of free speech. Alternatively, perhaps the best solution to this issue might be the creation of actual real jobs that will keep people too busy to think or use the internet for excessive personal research or public pontification as well as allow them to contribute to society.
Censorship is un-American. Intentionally misleading subscribers is unethical.
Posted by: X | July 23, 2009 at 04:30 AM
Why is CNBC even paying attention to these blogs with zero intellegence? All they help do is to drive more attention to them, for better or for worse. CNBC thrives on controversy, sometimes it's self made.
Also, CNBC has 28 listed blogs. http://www.cnbc.com/id/16561378/site/14081545/
Posted by: David3 | July 23, 2009 at 08:39 AM
cnbc is pr for the top handful of players on wallstreet...one slick pay-for-play promotional program after another.
P.S. I have worked on trading floors for 15 years.
Posted by: gman | July 23, 2009 at 07:12 PM
It sounds like many of the posters above listen to Bloomberg as i do & as many of my converted friends do. Bloomberg tends to treat the audience as adults.
For those who don't have Bloomberg in their cable TV pkg try radio http://www.bloomberg.com/tvradio/radio/ (Launch Audio Player)
Posted by: dave | July 23, 2009 at 09:10 PM
In a way, the news is somehow interesting.Thanks for the post.
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Nice post ! These financial blogs help in determining information on economic stabity and profit returns .
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Interesting post ! financial blogs help in determining information on economic stability and marginal profits .
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Posted by: expert witness | January 20, 2010 at 07:08 AM
I personally don't like to get my financial news from a comic book as I find it insulting to my intelligence. As the Bespoke post implies it seems all too obvious that mainstream media is perhaps feeling the heat of competition from independent media.
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