Jerry Brown, California AG, Squabbles With CNBC (VIDEO)

Yesterday, California Attorney General Jerry Brown announced an enormous, $200 million lawsuit against Boston-based State Street Bank. But, when Brown went on CNBC to discuss the lawsuit, he ran into some serious -- and extremely odd -- skepticism about his motivations for bringing the suit.

Brown alleges that State Street overcharged California's two largest pension funds by $56 million and is seeking millions more in damages.

CNBC's Michelle Caruso-Cabrera offered a rather half-baked implication regarding Brown's intentions, suggesting that Brown was bringing the lawsuit only because he plans to run for governor. (Brown says that the lawsuit was initiated by whistleblowers who had inside information on State Street's actions.)

Caruso-Cabrera said: "What do you say to people who look at this who say this is a perfect example of the demagoguery of attorneys general when they want to run for governor?"

Here's Brown's response:

"OK, first of all, if you don't want the interview, shut it off," Brown said, covering his face with a piece of paper. "It was your idea, so that's pretty silly. You feed off this just like any other media outlet....It's kind of symptomatic of the insensitivity and the arrogance of the Eastern financial elite that you would say, 'Oh, $56 million, why don't you suck it up and forget it?'"

Later, Brown added: "Are you guys pimping for the defendant in this case? I can't believe it."

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Comments

[MaToo2]

Jerry Brown is too old. He should practice grace, pick someone he's mentored under 45 and let go of his ego to help land a young, innovative person as Governor. Put all that experience into giving someone fresh the driver's seat and "guide" as an elder from behind the scenes. Let's look to California's future instead of the past... so what he had ideas 35 years ago? There are Californians that old with stalled careers thanks to the grey ceiling. Those born in his first term are now old enough to lead California. No one OLDER than 45 gets my vote in any upcoming election.

Anna Quindlen did it right and she's not even as old as Jerry. Jerry, if you're reading this, take a page from this classy playbook:
http://www.huffingtonpost.com/2009/05/03/anna-quindlen-giving-up-e_n_195300.html

It was nice to see your byline again in Newsweek, Anna. Miss your columns and wish you well.

[PrairieView]

Cute. Invite Brown for an on air interview and then call him a demogogue for publicly discussing what he is doing.

[kgeakin]

Yeesh, I had no idea cnbc sucked so hard. Glad I don't even bother with network news.

[senorlou]

These CNBC folks are gross. They are so brainwashed that a sum like $56 million doesn't constitute a crime. The prisons are filled with people who stole far less and will spend the rest of their days in jail. CNBC is just as bad as FOX, truly. They have helped Wall Street and their crowd steal hundreds of billions from the American tax payer. Their financial "geniuses" have been wrong about everything. How do these people get on TV is what I'd like to know.

[RaShaan Owens]

it is not a coincidence that CNBC was once headed by Roger Ailes of Faux News

[nopilikia]

Money talks. But when the truth comes out their BS walks.

[blueskybigstar]

Got to love Jerry. The media makes me believe this quote more every day.

Former Director of the CIA William Colby quote: The Central Intelligence Agency owns everyone of any significance in the major media.

[MosheDayanHero]

this is silly childishness.

[PrairieView]

Not really.

[runnerwanabe]

Way to go, Jerry Brown! You knocked it right out of the park and put those corporate pawns in their places. Thank god we have you as our attorney general!

[mateoconifer]

of course CNBC is pimping for the MAN

[pfc1369]

Those tv talkers vs. Jerry Brown.

What a mismatch!

[MosheDayanHero]

Let's inject some reality into this subject.
some points:

Is CNBC a Republican corporate stooge network-- yes!
Does the reporter has right to ask Brown about the connection between his gov. run and this lawsuit-- absolutely.
Is Brown trying running for governorship-- of course.
Is he willing to talk about now- Nope.
Is Brown following Spitzer M.O.--Yes.
Do I hope Brown becomes the governor--Yes!!!

If it's too complex, read a few times before responding.

[TheBaffler]

Why can't you be this clear sighted on matters pertaining to the turrist nation of Ishrael?

[MosheDayanHero]

Here you go
Is Is-el the only true democracy in the ME--yes.
Do P-nians have a chance to have a demilitarized and peaceful state -- yes. Any time.
Will they ever have a state while continuing their engagement in terrism---- Nope..
Will any of their neighbors accept Pal-ne with a standing army--zero chance.

Next subject...

[mjtaylor22]

pluck cnbc
she said he was tryign to run for govt to discredit the case he is brign agaisnt thsoe who defrauded the state.
so should we not prosecute fruad.
then he said was that a pribvate law firm...
not did they really defraud the state was the contract breached, none of that.
they are corp lap dogs, and not on the side of the people

[mjtaylor22]

CNBC
CORPORATE LAP DOGGS
"MR STANFORD HOW DOES IT FEEL TO BE A BILLIONAIRE...
cnbc-followus
adn you will be broke.

[TruelyFedUp]

This story would not exist in a resource based economy - see www.thevenusproject.com for details.

"A Resource-Based Economy is a system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few.

The premise upon which this system is based is that the Earth is abundant with plentiful resource; our practice of rationing resources through monetary methods is irrelevant and counter productive to our survival. Modern society has access to highly advanced technology and can make available food, clothing, housing and medical care; update our educational system; and develop a limitless supply of renewable, non-contaminating energy.

By supplying an efficiently designed economy, everyone can enjoy a very high standard of living with all of the amenities of a high technological society. A resource-based economy would utilize existing resources from the land and sea, physical equipment, industrial plants, etc. to enhance the lives of the total population. In an economy based on resources rather than money, we could easily produce all of the necessities of life and provide a high standard of living for all. " Jacques Fresco

Truly

[Miketou]

What's with the news media? They are attacking a politician who is actually "doing" his job. Malibu Barbee was really smug and way off base. Keep up the good work Jerry!

[bccmeteorites]

Desperate non-housewife.

[ibsteve2u]

Think about it:

What do you call it when you tell people that you can make them rich, accept money from them, pay some of the people off - the connected ones, the ones on "the ground floor" who can then swear to the gullible about how much money they've made and can even prove it - all while diverting ever larger chunks of the investment that the gullible are making into your own pocket?

Bernie Madoff went to jail for it...

But our banks and Wall Street are slicker than Bernie; to those who are incapable of seeing the forest for the trees, Wall Street and banking are just guilty of paying exorbitant salaries and bonuses....