On yesterday's testimony by Fed Chairman Bernanke, a trader emails me:
CNBC goes to commercial as Ron Paul starts to speak !!!!
An LRC reader
emailed Lew Rockwell:
CNBC didn’t run any commercials during Bernanke’s testimony this morning, until Ron Paul began to speak. They came back live after his questioning, choosing to resume with Maxine Waters. State-controlled media indeed.
Keep in mind this is the same CNBC where Charlie Gasparino used to work. Gasparino
has said that Jack Welch, who was Chairman of GE when they owned 100% of CNBC, told him not to do market moving stories:
Jack Welch told me you do not want to do that. You really don't want to move the markets like that because one of these days you are going to get your brains blown out.
CNBC has always been a means to entertain and pacify the proletariat. It is the "circus" in bread and circus for the weekday viewer. I've made my living as a trader for 25 years and my collective time watching CNBC amounts to about five hours.
ReplyDeleteI noticed that too. It was so random and quick too, almost unprepared. The hosts at that time look startled.
ReplyDeleteIf you also noticed, as soon as Dr. Paul spoke, the volume magically lowered. I had to quadruple the volume on my TV just to hear him. After that, it reset.
As has been the case numerous times in the past.
Cramer tore Kelly Evans a new one the other night after she dared criticize the auto parts sector (apparently Cramer and/or his friends are trying to distribute into strength).
ReplyDeletehttp://www.ritholtz.com/blog/2011/03/smackdown-vigna-vs-cramer/