CNBC Anchors Change Tune On Obama (VIDEO)

For a long while, CNBC has been one of the White House's most fervent critics, what with all the "wealth destruction" and the support for "loser's mortgages" and Robert Gibbs' refusal to give Rick Santelli coffee. The fact that President Barack Obama didn't seem to have Wall Street's best interests at heart -- and by that I mean "didn't seem to exclusively subordinate everyone else's interests to those of the titans of finance, to whom CNBC has paid long and dearly for access" -- caused massive angst for CNBC. But now, the White House has announced their bank bailout plan, and if there's one thing that's clear, it's that all of the people who caused the economy to crater in the first place will not be held in any way accountable, and will in fact receive a sweetheart, no-risk stake in the farcically-named "public-private partnership" that will buy up toxic assets and give the taxpayers a haircut if they end up being as toxic as the name suggests.

So guess what you're hearing out of CNBC today? Total change in attitude! Erin Burnett and Jim Cramer made an appearance on the Today Show and brought everything but the pom-poms. Burnett offered the heretofore-considered radical opinion that people needed to be patient with the stimulus package! "One of the things that's finally happening," Cramer remarked, "is that assets are finally going up." YES! Inflated value! It's finally happening, for assets! It's a frabjous day for assets! Along the way, broad predictions that lending would be coming as early as springtime. And executive compensation? It needs reform! But let's not get too reformy.

"The President has become pro-shareholder," Cramer enthused.

"Uhhhhlll-right," croaked Lester Holt, dimly.

By the way, Cramer feels great about the fact that bank nationalization is "off the table," so please, nobody tell him about this.

[WATCH.]

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Comments

[Kiabell04]

Why am I not surprised. I guess not all publicity is good publicity.

[heartsick]

You can't blame Erin Burnett for her behavior on Morning Joe. He is such a bul ly. Everybody on his show is forced to agree with him or be forced into listening to Joe talk over them. Cramer is another case entirely. John Stewart revealed his lack of brilliance and his volume has forever been turned down. As an additional benefit, Stewart helped to save the hearing of those working with Cramer.

[kennyfasugbe]

I propose that no CEO may make more than 100 times the lowest paid employee of the firm. That is still a mightily generous offer! We have seen that after all, they are nothing special.

[dagdavid]

Erin Burnett is nothing more than a pretty face. Seriously. I see her every morning on Morning Joe (love to hear Scar burough spout nonsense) and she has nothing to say beyond praising wall street. She, and others of her ilk, have long admired the wall street titans and have gone out of their way to promote their criminal intents. And Jim Cramer - come on.

[kashifsaeed28]

The media has long used policies for supporting or damaging politicians and people in the white house. This should be stopped. The role of media should only be to cover the truth and not to influence the public or get policies changed.

My blog:
http://project-you-are-not-alone.blogspot.com

[NevaforLeadership]

As long as Jim Cramer remains at CNBC, it has no credibility.

We are still, and always will be, disgusted at the video featured on this site, on which Cramer openly admitted to having manipulated the market when he was a hedge-fund manager. He bragged about both creating trading activity and pumping out stories to send stocks up or down, depending on whether his fund was long or short in those stocks. This man needs to be investigated by the SEC for possible securities violations, not rewarded with a spot on CNBC.

Why is he still on CNBC?

[Owltree]

Why is he not in jail? Are there not laws prohibiting this sort of thing?

[dylansfan]

And he admitted to breaking the law on tape ... Yes, he should be indicted and thrown in jail,

[peter777]

Any cable or broadcast channel that constantly rags on President Obama is either living on a different planet or under a rock on this one. Unless you are one of the financial elites, top 5% in salary, or make your money from sucking up to them, there is nothing to like about Republican government (or non government) I do not ever watch the ultra right channels or tune into them. Sponsors, take note.

[shamaniceconomist]

The political time scale has changed -- a month is now "a long while."

[nivek]

Erin Burnett, why do you have such a low opinion of organized labor? It seems that you are personally leading a campaign to undermine the UAW. I don't see why you insist on assigning blame to the production personnel of our nations auto industry, after all, they are working for wages, not salaries. Didn't GM, Chrysler and Ford make millions, no billions of dollars employing these same employees? During an interview you conducted last month you asked your guest if the unions weren't to blame for the automakers woes. When he did not agree with your assertion, you emitted an audible sigh that could only be described as disappointment, end of interview. I celebrate your right to think, feel and opine in the manner of your choosing, but do not understand why you consistently misrepresent this issue. Are you not represented by a union yourself?

[hoodoomeatbucket]

so what's your plan, genius? i read a lot of snide dumping on obama's attempts at cleaning up bush's mess, but less IDEAS than the republican budget proposal. and what exactly is wrong with stocks (you know, "assets") going up finally? maybe you have all your money under your futon but here in the real world 60% of us have an interest in seeing our retirement portfolios not crash and burn any further, and god forbid we should get a return! wow, thanks for your constructive contribution to the conversation.

[carl99e]

CNBC is not that charitable. They have been receiving lots of emails from their listeners to tone down the rhetoric on Obama and to give his plan time to work. A lot of their audience really don't like a lot of what they hear but since it is the only game in town you gotta tune in with a weary eye to the "facts" they present along with the guest who more often than not are full of bull. Yet these "B S artist" are for the most part never challenged if they toe the Republican barge.

[bellabeach]

You have that right carl99e....people are speaking up and it is about time!!

[SouthernBlueBelle]

One word "Bloomberg", that is the answer to cnbc and the shills that work there.

[covered]

Professionals have to run cnbc for "the tape," which they have the exclusive on with the data vendor. Everyone I know in finance runs cnbc on "mute" 98% of the time. Bloomberg's tape is not adequate but their programming is a lot better. The two worst offenders at cnbc are Kudlow and Michelle Cabrerra. They slam BO like they work at fox.

[citizen of the universe]

I've seen Erin Burnett on CNBC and recently on Bill Maher and she seemed steady to me. She's knowledgable about finance and she seems like she takes a non-commital approach when providing her market insight. However, when she makes her appearance on "Morning Joe," it diminshes her character a little. Okay, I hate that show (Morning Joe), but to me she translates to the public well. Cramer on the other hand got shut down by John Stewart, so I'll let him be; His ego and arse is still stinging from that butt whupping!

[stevendedalus3]

"Erin Burnett is a brainless robot." You gotta be kidding! She's not only beautiful but one who shows sensible moderation among the many gross right wing CNBC commentators.

[dagdavid]

You gotta be kidding? This brainless robot does nothing but spout wall street nonsense.

[Chiligentilly]

Cramer was an Obama supporter through the election. What is surprising is how many CNBC anchors were supporting the Democrats in the election.

[Melchedekan]

Erin Burnett is a brainless robot.