Wall Street WARZONE
10 Reasons: Never Trust the Economic Predictions of Cable News “Talking Heads”
by Paul B Farrell, JD, PhD
| Discuss | | 2/19/2010

Remember all the dotcom talking-head snake oil salesmen: Merrill Lynch’s Henry Blodget, Morgan Stanley’s Mary Meeker, Goldman Sachs’ Jack Grubman and others. These high-priced prognosticators constantly pushed the investor’s “buy buttons” by increasing our anxieties not just about buy-sell-trade investment decisions, but across-the-board with every other short-term decision we make as consumers and with family, friends, workers.

America really loved “the action” during the go-go days of nineties “new economy,” dotcoms, tech and ”information revolution.” And Wall Street got tons of free advertising while main-lining their message into the brains of the relatively naïve masses, thanks to their “co-conspirators” in the media. For example, cable channels like CNBC and CNN would easily get thirty or more high-paid Wall Street pundits and stock market gurus on-air every day—for free! Today, Wall Street and their advertisers are still rapidly increasing their control over media editorial policies, as publishers make more and more concessions to hold onto a declining base of advertisers. (More)