Wednesday, November 19, 2008


The stock market seems to have no bottom, with stock prices going down several hundred points per day. Today was no exception. The DJIA fell over 400 points. Thus this might be an appropriate time to describe some of the people who populate CNBC's market coverage.

1. Pete Najarian, a panelist on Fast Money - a loud-mouth who believes his points are stronger when he yells them. Pete always tries to recommend options. Of course, he and his brother John Najarian own and operate a retail options firm. Nice tie-in, right?

2. Joe Kernen, one of the hosts of Squawk on The Street - not too nice a person. Always takes the side against labor unions, Democrats, and against government intervention except when that intervention will safeguard the value of his own 401(k), as in the 700 billion+ bailout of Wall Street banks.

3. Michelle Cabruso Cabrera - a tough girl from NYC. She smiles too much. Her politics are suspect - she always seems to side with the Republican shills like CNBC's reporter Charlie Gasparino, The Wall Street Journal's Steve Moore and CNBC's house idiot Larry Kudlow.

4. Jim Cramer, host of Mad Money - about the only bright spot in today's blog lineup. Cramer frequently gets his stock picks bashed after he recommends them, but this might be the result of his enemies on the street shorting precisely those stocks he selects. But Cramer has been right on the general direction of this market - DOWN. Cramer has been urging his viewers over the past year to lighten up on their stock portfolios. And Cramer has been right to stress that without assistance for besieged homeowners in danger of foreclosure, the market will tank and everyone's 401(k) will be decimated.

More in later posts.

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