Fed Decision Comes, Biz Nets Cover... What Next?

The markets are rallying, the Fed has announced a longer-term Treasury's purchase scheme of $300bn over the next six months, not quite quantitative easing but not far off, and as expected, the biz nets covered the announcement in great detail.  Of course, the market continues its rally, but is it a sign that the recession is coming to an end?  Probably not is the most likely answer.  Infact, there is probably another test of the lows to come.  The biggest issue here for the business networks is their credibility.

CNBC has taken a huge hit in recent weeks, but they are not alone.  More and more viewers of business news are turning to unlikely business outlets such as Lou Dobbs on CNN, and also, non-news shows such as the daily show with Jon Stewart.  So, is the business network dead?  Well no.  Business channels serve a purpose, and whilst Jon Stewart, and other ill-informed broadcasters like Bill O'Rielly continue their hate campaigns against CNBC in particular, it is still the biz nets that pull the punches and break the major business news.

From my point of view, and as I've ranted in the last week, I'll be the first to slam those that think they can pass comment without knowing the facts, infact, Jon Stewart is rumoured to have been coached by his brother who works in the financial industry.

If it wasn't for inconsiderate bankers, like those at AIG, Bear Stearns, and Lehman Brothers but to name a few, the Biz Nets wouldn't even be in the spot light.  Those who feel qualified, but aren't are in the target sights of World Business News, and we will uncover you.