GE CFO Appears ON CNBC To Pump Up GE, Which Owns (You Guessed It) CNBC! Conflict?

[Median Democrat]

You just have to love "the economic informericial known as CNBC." If they aren't blaming everything under the sun on Obama, they are kissing up to corporate American, including their parent corporation, General Electric:

http://www.buzzflash.com/articles/node/7906

/snip

We know this because Joe Nocera --the old-style real kind of financial journalist from the NYT who professionally dissected A.I.G. on "The Daily Show" the night that Jon Stewart decimated CNBC -- wrote a March 6th article in the NYT entitled, "Behind the Curtain at G.E." In that analysis of G.E.'s plummeting prospects, Nocera wrote:

“GE Capital,” wrote Nicholas P. Heymann and Matthew Kelley, two bearish analysts at Sterne Agee, “is now confronting the prospect that a downward trend in fundamental performance, fueled by weakening end markets and magnified by several liquidity constraints, could potentially lead to an extended period of steadily lower earnings, depleted loss provisions, lower credit ratings, rising borrowing costs” ... well, you get the picture. Mr. Heymann, who has followed G.E. for 27 years, issued his report on Tuesday morning — just two business days after G.E. cut its previously sacrosanct dividend by two-thirds.

Within 24 hours of Mr. Heymann’s report, the company’s stock, which had been $17 a share just a couple of months ago, dropped to under $6: “That’s a scary number for G.E.,” said Richard Hofmann, an analyst with CreditSights who is also a G.E. bear. The credit-default swaps spread suggested that investors were worried about default.

But when you own the media, you always have a megaphone for hyping up your faltering financial condition.

So it was hardly a surprise that as CNBC blames Obama for not cheerleading on an underperforming market (because of mismanagement and greedy financial plays by many CEOs and their manangement teams of "bonus baby" con artists), it also -- according to Nocera -- gives its parent company, GE, a national television audience to tout "how well" it is doing.

/snip

[Double T]

1. The epitome of a corporate propaganda network.

Not just one network but many to spew their self serving lies.

[peacetalksforall]

2. wag the tail ... any which way it will wag