Happy Boycott CNBC Day!
Posted by Tracy Alloway on Feb 03 10:01.
StockTwits has proposed today be official ‘Boycott CNBC Day.’
Their reasoning for blacklisting the business channel is outlined below.
Boycott CNBC Day on Tuesday February 3
We are boycotting CNBC on Tuesday February 3, 2009 and ask you to join us.
We are boycotting CNBC because of what we perceive as a gross lack of accountability and editorial judgment.
We are boycotting CNBC because they produce shows with personalities who take zero responsibility for stock picks and markets calls which misinform viewers and distort the severity of the economic crisis.
from
http://ftalphaville.ft.com/blog/2009/02/03/51971/happy-boycott-cnbc-day/We are boycotting CNBC because they trot out so called expert guests who have cost investors millions without warning viewers and allow these guests to pump themselves up without demanding the disclosure of performance…
Of course, this isn’t the first call for a protest against the network. The Boycottcnbc blog was started last year, lambasting the channel for taking down an online poll, and more recently, Howard Lindzon accused the channel of serving up ‘financial terrorism.’
The most withering assessment we’ve seen of the network so far (and conversely the boycott), comes however, from Condor Options:
Stocktwits is calling for a boycott of CNBC for tomorrow, February 3rd.
Of course no one actually watches CNBC, except in the way that hipsters drink Pabst and grow mullets and go to monster truck rallies. It is enjoyably kitschy to hear Larry Kudlow praise the virtues of laissez faire capitalism as if the last two centuries hadn’t happened, and to watch the flashing banner alerts and wonder at how our culture has become so addicted to primary colors.
But their crass aesthetic and ideological immaturity aren’t the primary reasons to disregard the network. The real problem with mullets and Pabst and Toby Keith songs, and with CNBC, is that there are people, large swaths of humanity, in fact, who apparently regard the above unironically. And there are others who trade based on how they suspect the hoi polloi will react to the news of the hour. And so on. Conflicts of interest abound, performance assessments are entirely absent, and the only service provided is stimulation, not information.
So for those with any sense, a boycott of CNBC will make tomorrow no different from any other day.
Ouch.