"There's no such thing as good money or bad money. There's just money."
Charles 'Lucky' Luciano
"Why is JP Morgan getting so much heat? Maybe because it is a massive international crime syndicate."
02 October 2013
Seder and Taibbi Discuss JPM and the SpokesModels of the Financial Press
It may be unfair to take the measure of these news channels as journalists. For the most part they are not journalists, and these are not news channels, although they do sometimes display facts in small boxes on their screens.
In defense of CNBC, Fox and Bloomberg are no better. I have heard the same meme about money and Wall Street there many, many times.
There is a mind set that puts the Wall Street and their embedded entourage of enablers apart from the shared reality of the public. And the same thing is occurring with the press and politicians in Washington.
The financial press are too often spokesmodels acting in extended infomercials, talking about current events with financial graduates of the Charles Luciano School of Economics, produced and put forward by the corporate interests and billionaires that own them and their careers.
And this same problem of corporate cronyism is infesting the mainstream news departments as well.
Here is a link to Taibbi's column on this video in which he makes a few additional comments.