As a former stockbroker, I watch CNBC during the day to keep tabs on things.
But I read an interesting story recently regarding my money-gal Maria and CNBC:
A few months ago, CNBC was charged by media hounds with “conflict of interest” when it assigned anchor (my) Maria Bartiromo to interview Sanford Weill, the chairman of Citigroup. Maria, smarty that she is, owned 1,000 shares of Citigroup stock. Ouch.
But, the thing is, she owned-up to that fact during the interview unlike, I suspect, 99.999% of the media interviewers today. I credit her for being upfront and honest. Others did not. As media analyst Robert Steele pointed out, “Disclosure doesn’t resolve a conflict of interest; all it does is reveal that a conflict exists.” True enough.
Editor’s note: Sadly, a software upgrade failed in its duty to upgrade the link to the article as it promised to do. Definitely not an operator error.
PTBC was founded by Mr. Johannesen in 2000.
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