A lot of you wonder why CNBC "appears" to pump up the market, shrug off bad news, and spins bad news into good news. It seems much more apparent lately than 3 months ago.
The answer is quite easy actually. Call it a conspiracy theory but her is how it goes...
Back in January, CNBC had some pretty negative comments and would invite some pretty prominent perma-bears on their shows. It created negative sentiment in the market and some say it helped propel the market lower.
In very late February, you notice the Obama administration started a campaign of positive news. About at this time, you saw that CNBC stopped inviting prominent bear economists and analysts during the trading day, and only invited a few of them very early in the morning, well before the market opened. You also noticed that Charlie Gasperino (sp?) faded away as did some other "reporters" with negative views. At the same time, Donnie Deotch (sp?) comes onto the scene and the entire crew appears very positive about the market. Rick Santelli stops bashing Washington.
Quite a contrast. Well, something appears to have happened. And the clues are not hard to figure out.
CNBC is owned by GE and it is not a secret that GE execs had meetings with Obama about his energy plans. GE has a very good chance of landing a good portion of those contracts. It doesn't take much of a stretch of imagination to see Mr. Obama asking GE to tone down CNBC and help promote the market and the economy in general in return for getting those contracts.
Take it as you might, but these seems like politics as usual.