Irony alert: CNBC doesn't want to be blamed for the Dow's dip

Blog ››› ››› ERIC BOEHLERT

This is rich.

CNBC talkers have no problem blaming Obama for the Dow's recent decline, conveniently ignoring months worth of disastrous economic news, over which the new president has had no control. But defensive CNBC anchors and personalities think it's unfair to blame them.

From the NYT article today on CNBC, here's the relevant passage:

When the CNBC anchor Erin Burnett appeared on "Real Time With Bill Maher" on HBO on Friday, Mr. Maher raised a similar issue. "This is the channel that Wall Street watches all day," Mr. Maher said. "I think this is more than a channel; I think it affects what happens on Wall Street. Why didn't anybody there predict what was going to happen?"

Ms. Burnett said that the dot-com bubble was predicted, too. "It's easy to say 'a bubble.' You don't know when it's going to burst," she said, adding that the questions of timing and magnitude were missed by many financial experts. Separately, in a telephone interview Friday, the "Squawk Box" co-host Joe Kernen said of the market turmoil, "Ask yourself whether you really think it's CNBC that caused it, or was it the housing bubble that caused it? I think we know what caused it."

See, CNBC didn't cause the market turmoil, it's the fault of the housing bubble. Except, of course when it's not and CNBC's talkers blame Obama.

Posted In
Economy
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