There’s a bid debate going on in the world of financial media about what really is news and what really is just entertainment.
Scratch that, it’s a debate going on in all media.
In terms of business news, though, no network has been more criticised than CNBC. The channel was mentioned over and over again in Heleine Olen’s recent book “Pound Foolish: Exposing the Dark Side of the Personal Finance Industry,” and even before that, USA Today, Jon Stewart and more accused the network of working investors into a frenzy for ratings.
Well now it’s The Onion’s turn. Check out this headline —‘Everyone Who Started Watching ‘Mad Money’ In 2005 Now Billionaires’.
An excerpt (from The Onion):
[Host] Jim Cramer turned out to be 100 per cent accurate with every stock he said to buy, sell, or hold; I started out by investing $600, and now I have a net worth of $4.1 billion,” said former dishwasher Paul Welling from the plush 100-seat TV room aboard his custom luxury yacht. “All I had to do was follow Jim’s investment instructions and then sit back as the millions upon millions rolled in every day for the past eight years. And actually, I myself watched no more than three times weekly, and today I own a media conglomerate.”