The main Stream financial press is outted and the proof is they are going after the bloggers. The bloggers who were ignored when they got it right about the housing and credit bubble. You gotta be able to stomach a whole lotta hypocrisy to do this little skit on CNBC.
None other than CNBC the home of No Bear Stearns is not Insolvent Cramer, Larry there is no housing bubble Kudlow and every stock pushing fund manager with a losing portfolio to push is attacking the bloggers. Why doesn't CNBC disclose that all those mutual fund managers they have on PAID for the airtime. That's right what they disguise as a financial news story or interview is in fact an advertisement for that mutual fund.
I could go on but Tyler Durden at Zero Hedge does a much better job, here's a snippet.
Charlie, here is a primer on how blogging works (and no Steve, it is called blogging, and not reporting, just because of the following) - it is feedback driven: if a blog does provide false and misleading data it is always called upon it, and people lose interest. Simple as that.