Monday, March 16, 2009

CNBC and Media Matters Petition

The TAX-EXEMPT, Left-wing group Media Matters has CNBC in the cross hairs.

NEW YORK (AP) -- Some critics are seizing on comedian Jon Stewart's attacks of CNBC to launch an online petition drive urging the network to be tougher on Wall Street leaders.

The liberal media watchdog Media Matters for America and some economists are behind the effort, launched Monday. They're asking CNBC to hire economic voices with a track record of being right about the current crisis and do more to hold business leaders accountable.

In reality, Media Matters is launching the petition because CNBC's Rick Santelli and Jim Cramer bashed Barack Obama. It's as simple as that. This isn't really about Wall Street leaders. It's about big Obama love.

Here's an outrage:

Media Matters is a blatantly political group, yet it has tax-exempt status.

Sweetness & Light points out that Media Matters violates its status as a 501c3 organization.

I don't have a problem with Media Matters launching a petition. Whatever.

I do have a problem with the group's tax-exempt status when its violations are in plain view.

2 comments:

Anonymous said...

Take a look at Jim Cramer's MSFT recommendations over a 2 year period. You can see that he flip-flopped quit a bit and likely lost viewers money.

http://www.stocktagger.com/2007/07/jim-cramer-microsoft-corporation-msft.html

Mary said...

So what?

He's not responsible for what people do with their money.

It's TV. It's ratings-driven. Cramer is a performer.

People should take what Cramer says with a grain of salt. If viewers get their sole financial advice from a TV personality, they aren't too savvy.

I want to know why Media Matters retains its tax-exempt status though it is in clear violation.