Tavakoli versus CNBC, Investment Bankers etc.

Jon Stewart did a great job of bringing to the attention of the public, CNBC's tendency to protect the Wall Street elite. As I mentioned, Stewart's one handicap was that he is not a Wall Street insider, so he doesn't really have the expertise to provide the knockout blow. But, there is someone who does, and is not afraid to state things the way they really are, Janet Tavakoli.

She just emailed me this clip of a CNBC appearance she made last year. Notice how she is not afraid to name the underwriters, i.e., the investment bankers, as part of the scam, while CNBC's Charlie Gasparino tries to keep it limited to the ratings agencies. At the end of the clip, Gasparino says: “I am not buying Janet lunch!”

In her new book Dear Mr. Buffett (See my review), she relates that when she appeared on CNBC, they gave their viewers bad information contradicting her. Of course, she ultimately proved correct. There's a reason Warren Buffett hangs around with her.

If anybody out there has a connection to Stewart, get this clip over to him, so he gets Tavakoli on his show.