If it walks like a duck...

"If it walks like a duck, quacks like a duck, looks like a duck, it must be a duck” proverb

On March 4th a financial reporter for CNBC, Rick Santelli decided to take on the Obama economic stimulus bill with a rant on the stock exchange trading floor, was suppose to make an appearance on The Daily Show with John Stewart. He didn’t. Steward responded to the no-show by Santelli, by doing a critical review of CNBC’s financial reporting and it wasn’t pretty. Examples were pulled from reports that gave a positive spin to stories about companies about to implode, with a follow- up that highlighted the implosion which took place days or weeks later. The emperor’s new clothes were revealed. The financial news isn’t news, it is entertainment, and now it seems that CNBC is having a hard time facing the facts. Jim Cramer, the expert analyst has been called upon to defend himself and the network.

On March 12th a follow up program was aired that featured Stewart and Cramer across the desk from each other. I have to give both individuals a great deal of credit. Cramer is on the hot seat for much of the show and without having to say too much, seems to acknowledge that the network he is standing in for missed important opportunities to ask tougher questions and do a better job of doing real reporting, educating the public, and not just playing the part of selling snake oil for the traveling medicine show. Stewart was excellent in asking the tough questions a reporter should be asking and supporting his points with timely visuals.

Is the Daily Show news or entertainment? It doesn’t call itself news, it is a timely program of entertainment that parodies the news, but it’s honesty about itself is what has given it the credibility that is lacking in so many programs that do call themselves news. There is a lot of time to fill on the many cable networks that now come into our lives. News programming should be based on honestly reporting the facts, entertainment tells stories that we like to hear, sometimes they make us laugh, sometimes they make us cry, and sometimes they make us afraid and want to go and hide, any way you look at it we love them but they are still entertainment.

It used to be that Stewart was one of the most trusted national reporters and was a ‘go to source’ for political news during the election campaigns, now the Comedy show is becoming the source for explaining the ups and downs of the economy as well.

Is it a duck, or is it not a duck?