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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (50075)	3/6/1999 10:52:00 AM
From: Earlie	Read Replies (2) \| Respond to of 132070

Tommaso: After forwarding considerable material to CNBC for months and never seeing it ever used, a certain analyst I know had conversations with certain of their personnel about the "cheerleading". Response,..."we try to be balanced". More months went by and our intrepid analyst perceived no discernible change. That analyst finally expressed his opinion in print,....a lengthy paragraph in which it was pointed out that along with analysts' exaggerations and phony accounting, CNBC was a major cause of the extended bullishness among average investors, primarily as a result of the exaggerated bullish slant found in those interviewed. An analogy used in that opinion bugged them. The analyst received an email note that suggested that he cease forwarding material. He has happily complied with their suggestion ever since. (g) It will be fun to watch the senate hearings that take place after the crash, as scape goats are sought out and lined up against the wall (as was the case in the 30s). Will CNBC be one of them? Best, Earlie

To: Tommaso who wrote (50075)	3/6/1999 2:41:00 PM
From: Knighty Tin	Respond to of 132070

T, I think Ted David was more concerned about criticism of CNBC in general, and himself in particular. But the guy in Savannah is certainly right. I don't know any measure where we have ever had higher priced stocks in this country and I know of few periods where we have had worse earnings growth. And interest rates are now a tad over the postwar average, so that isn't the answer. I think debt is the answer and if I'm right, it has to end badly. Very badly. MB