Posted 11:39 AM by Gene

An answer to the EDWARD R. MURROW OF COMEDY and his latest attempt to win the P-ULITZER PRIZE for WITTY PUNDITING:

Many of the most sweeping criticisms also come from folks who are the furthest from the action. A number of the loudest critics, from the Audit to The Washington Post's Howard Kurtz to any number of bloggers to "The Daily Show," which this week thrashed CNBC, with the help of the Times' Joe Nocera, to (for comic relief) Ben Affleck, who recently blamed Newsweek for the mess because it was nice to Henry Paulson, should ask themselves the following question: What were you up to when the disaster was building? Why didn't you ring the alarm bell? Their answer is usually, well, it wasn't my job or no one would listen to me. These turn out to be not unlike excuses proffered by many financial journalists -- to wit, I was covering my beat, which didn't extend into every toxic nook and cranny of finance. (OK, not Affleck, Kurtz or Jon Stewart: Their answer is that they were busy making lots of money in show biz.)

Unfortunately he goes on to excuse financial news hacks with terms like opacity and complexity and blahblahblah, which did not stop some of the bizhacks from praising the heads of opaque, complex companies, like LEGENDARY WELCH, or JOHN THAIN.

Which doesn't make EDDIE or HOWIE HAIRSHIRT any LESS prigs.

(Via MediaBistro)