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I was recently watching CNBC (don't laugh) when I heard Maria Bartiromo yelling about a boom/bust economy and how it isn't necessarily a bad thing.  Apart from the fact that I couldn't disagree more, and that Maria, or any other journalist for that matter, shouldn't be inserting their economic opinion into broadcasts, it made me think about the financial media as a whole.  The financial media has had a hand in the recent importance of behavioral economics.  And I would be willing to guess that CNBC,Bloomberg, and the newer Fox Business Channel's ratings just so happen to go up during times of euphoria (2000, early 2008), as well as times of panic.  So even though the pundits may cry over the incentives on wall street, what about their incentives in covering wall street, and what that might lead to?

I once heard the phrase, and im paraphrasing that walking into an investment firm and seeing managers watching CNBC is like walking into a hospital and seeing doctors watching Grey's Anatomy.