News Media Accused of Failure to Inform
What is or is not reported and how it is reported is a crucial matter in a Democracy. Our founding fathers though it was so important that they specifically mention "freedom ... of the press" in the FIRST amendment to the constitution:
Jon Stewart Eviscerates CNBC
First is the issue of how the media failed to report on the true condition of our economy. Specifically CNBC TV, the NBC financial cable outlet, one of the leading sources of financial information for the public was taken to task by, of all people, Jon Stewart on the Comedy Channel's "Daily Show" (Comedy Channel - Mon.-Thur. 11:00PM with repeats the next day at 1:30AM, 10:00AM, 2:00PM, 8:00PM.)
Starting Wednesday, March 4, 2009, using video clips of CNBC's coverage of the financial markets, Jon Stewart made a serious point using comedy as the punctuation mark. He eviscerated CNBC's coverage of the U.S. financial system. It turned into a media feud as Jim Cramer, CNBC 's host of "Bad Money" (CNBC Daily @ 6:00PM) responded on NBC's Today show and elsewhere and Jon Stewart replied, etc. etc. until Jim Cramer appeared as a guest on the Daily Show on Thur. 3/14/09. Frankly, if it wasn't for the damage the feud could have done to Jim Cramer's credibility it looked like a setup to me.
Jim Cramer was contrite, apologizing for his failure to present the dangers lurking in the financial markets and for hyping the stock market, which helped augment price inflation. Stewart maintained a non comedic demeanor making the point that it wasn't Cramer who was the object of his attack, but rather CNBC for not fulfilling its journalistic responsibility to investigate and report on the underlying weaknesses in the economy.
There are a number of video clips available on the Daily Show web site (thedailyshow.com). If you are going to watch any of these clips, the one to watch is the March 12 show where Cramer is the guest. It come in 2 versions; the full show and clips of individual segments of the show. Another one to watch is where Jon Stewart initiates his attack on CNBC (March 4th) following the incident where CNBC commentator Rick Santelli attacks the proposed bailout of homeowners who have lost their homes through foreclosure. In that attack he called the homeowners "losers".
Media Matters: The Media's Deliberate Stupidity
The second incident is addressed in this week's Media Matters newsletter. They discuss how the media handled the Republican attack on the "pork" in both the $787 billion Economic Recovery Act (The Stimulus) and the Omnibus funding bill for the balance of fiscal year 2009.
Using John McCain's attack on the "pork" in both bills, especially on the Omnibus funding bill where McCain ridiculed the spending item for honeybee research, the Media picked up McCain's arguments verbatim and repeated the charge ridiculing the expenditure. In the newsletter Media Matters complains that no one did even a simple research on the expenditure, which they claim could have been done by doing a simple Google search. Had they done so they would have found out the importance of the expenditure to our economy.
So here is an example of the media failing to perform its important function of making sure the public learns the truth rather than just accept the spin. To get the details supporting Media Matters complaint you should read the newsletter here. It is an eye opener to see how the Republicans are intent on attacking Obama and the Democrats without regard for the truth.
"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."This week there are two glaring examples of the media failing to meet their obligations vis-a-vis freedom of the press, highlighted by 2 separate sources.
Jon Stewart Eviscerates CNBC
First is the issue of how the media failed to report on the true condition of our economy. Specifically CNBC TV, the NBC financial cable outlet, one of the leading sources of financial information for the public was taken to task by, of all people, Jon Stewart on the Comedy Channel's "Daily Show" (Comedy Channel - Mon.-Thur. 11:00PM with repeats the next day at 1:30AM, 10:00AM, 2:00PM, 8:00PM.)
Starting Wednesday, March 4, 2009, using video clips of CNBC's coverage of the financial markets, Jon Stewart made a serious point using comedy as the punctuation mark. He eviscerated CNBC's coverage of the U.S. financial system. It turned into a media feud as Jim Cramer, CNBC 's host of "Bad Money" (CNBC Daily @ 6:00PM) responded on NBC's Today show and elsewhere and Jon Stewart replied, etc. etc. until Jim Cramer appeared as a guest on the Daily Show on Thur. 3/14/09. Frankly, if it wasn't for the damage the feud could have done to Jim Cramer's credibility it looked like a setup to me.
Jim Cramer was contrite, apologizing for his failure to present the dangers lurking in the financial markets and for hyping the stock market, which helped augment price inflation. Stewart maintained a non comedic demeanor making the point that it wasn't Cramer who was the object of his attack, but rather CNBC for not fulfilling its journalistic responsibility to investigate and report on the underlying weaknesses in the economy.
There are a number of video clips available on the Daily Show web site (thedailyshow.com). If you are going to watch any of these clips, the one to watch is the March 12 show where Cramer is the guest. It come in 2 versions; the full show and clips of individual segments of the show. Another one to watch is where Jon Stewart initiates his attack on CNBC (March 4th) following the incident where CNBC commentator Rick Santelli attacks the proposed bailout of homeowners who have lost their homes through foreclosure. In that attack he called the homeowners "losers".
Media Matters: The Media's Deliberate Stupidity
The second incident is addressed in this week's Media Matters newsletter. They discuss how the media handled the Republican attack on the "pork" in both the $787 billion Economic Recovery Act (The Stimulus) and the Omnibus funding bill for the balance of fiscal year 2009.
Using John McCain's attack on the "pork" in both bills, especially on the Omnibus funding bill where McCain ridiculed the spending item for honeybee research, the Media picked up McCain's arguments verbatim and repeated the charge ridiculing the expenditure. In the newsletter Media Matters complains that no one did even a simple research on the expenditure, which they claim could have been done by doing a simple Google search. Had they done so they would have found out the importance of the expenditure to our economy.
So here is an example of the media failing to perform its important function of making sure the public learns the truth rather than just accept the spin. To get the details supporting Media Matters complaint you should read the newsletter here. It is an eye opener to see how the Republicans are intent on attacking Obama and the Democrats without regard for the truth.
posted by Michael | 10:38 PM
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