Word: stockely
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That is why Buffett is not in the cable-news business. For as the economy nose-dives, CNBC - the TV darling of the turn-of-the-century stock boom - is proudly letting the emotion overcome it. (Read about Buffett's tell-all biography...
...reporter Rick Santelli launched into an on-air rant against helping "losers" with their mortgages, a viral-video hit that made Santelli the poor man's Rush Limbaugh - or is that the rich man's? Kudlow Report host Larry Kudlow opined that President Obama "is waging war against capital." Stock picker and professional gasket blower Jim Cramer trained his bulging eyes on Washington, accusing Obama of "the greatest wealth destruction I've ever seen by a President...
...been to dive off both sides of the line at once. On the silver-lining-hunt side, its straight-news interviewers now spend uncomfortable days (even when not talking about parent company GE's woes) pleading with gloom-saying guests to declare a bottom to the market or find stock picks. "Do you have just one?" Steve Liesman asked an investment adviser, almost plaintively...
CNBC's reaction is colored by its stressed-out day trader's focus on the short term. When ordinary people think about the economy, they think about jobs, college, retirement. Sure, the stock market affects them in the long run - but so do job security and the threat of getting wiped out by health-care bills. When CNBC considers the economy, it means Wall Street's numbers that day, that hour, that minute. CNBC may pay lip service to the long term, but it has the time horizon of a fruit...
...before the meeting of the Faculty of Arts and Sciences lost some of its luster yesterday. Instead of the thick, glossy paper typically used for the minutes of the past month’s Faculty meeting, the most recent documents stacked on the tables were printed on conventional thin stock. “Today is the last day you’ll see a wide variety of printed material available to us in the Faculty meeting,” FAS Dean Michael D. Smith said in his first piece of news regarding the ongoing financial crisis. Future Faculty meetings will...