How responsible were the t.v. financial talking heads in the meltdown?

[techs]

Saw something this morning that really got me thinking.
Along with the rise of talk radio and FoxNews, places where people turn to get there world view from, their has been a huge growth in tele-financialists.
These people literally screamed at Americans to buy, buy, buy houses. Screamed at them to invest in market, invest in the market, etc, etc.
They screamed the market will go up forever, if you don't buy you will lose out.
With the huge increase of people who knew nothing about the markets, getting into the markets, they turned to these media outlets for guidance.

When the meltdown started they all screamed, SELL, SELL, SELL. You're gonna lose your house, your car, your pension. It's THE END OF THE WORLD.

The point being, that Americans have gotten into a mode where they get their direction, beliefs, world views, from these t.v. and radio outlets.

And the "crisis of confidence" has been fed by the tele-financialists.

 

[Kuragami]

Like the media that lead America and Canada into war they are fully responsible for the mess we are in. It was quite usual for people who dissented against the MSM orgy on the market to be attacked during interviews with outright lies and to try and paint them as some sort of nut. Assuming they were interviewed at all. People like Ron Paul have been on TV before but hardly anyone took them seriously least of all the MSM.

This is not about hindsight being 20/20. I'm not talking about specifics but rather the overall propaganda that followed lock step with Bush after 9/11 without allowing any real dissent. They spent hours, days analyzing how well the market does and didn't spend one minute talking about how it works and the possible side effects of current action. It's not like this never occurred before but the media has a history background going back about two weeks and you are lucky if they can even remember the BS they were spewing a few weeks before (hello all those watching Mad Money), let alone study history. God forbid anyone dare to educate viewers on how money and the system works and how similar situations played out previously.

The media and their talking heads and editors would be on top of my list for criminal prosecution. Being naive is not a pension for the media to propagandize the market and walk away from it coolly. They hold a public trust, arguably the most important one as without it you can't have freedom, and having abused it should be held publicly liable for their actions.