What? Media bias at an "NBC"? - CNBC Report that Bain Advised Obama Administration on Auto Company Bailout Has Been Refuted

I would read Businessweek and watch CNBC and get the feeling that their reporters and commentators did not have a clue about business. It was as if they worked for TASS, Izvestia or Pravda in the old Soviet. I was only wrong in this respect, they worked for the American Media of their New Soviet. ♘

WITHDRAWN: CNBC Report that Bain Advised Obama Administration on Auto Company Bailout Has Been Refuted - By Andrew C. McCarthy - The Corner - National Review Online

UPDATE: CNBC HAS WITHDRAWN ITS EARLIER REPORT THAT MITT ROMNEY’S FORMER FIRM, BAIN CAPITAL, ADVISED THE OBAMA ADMINISTRATION ON THE AUTO BAILOUT. CNBC says the “Bain Consulting” in the report turns out not to be related to Romney’s Bain firm.

I am deleting my earlier post about it, though I will save it in the event there needs to be some record of it — I haven’t thought that through, but in fairness to the Romney campaign, I want to delete the earlier post now.

HERE IS AN EXAMPLE OF THE NEW SOVIET IN REPORTING:

CNBC Screw Up On Auto-Bailout Story Nearly Becomes A Campaign Headache For Romney

Linette Lopez | Jan. 13, 2012, 2:36 PM
By the time this election is said and done, Mitt Romney's experience in private equity will have been discussed a million times. And for most Americans, there will STILL be no clarity about what private equity actually is or what Romney did at Bain.

Take, for example, CNBCs recent gaffe. Their correspondent, Eamon Javers, reported that Bain Capital was one of the consulting companies that took part in the auto-bailout, and that the consulting firm recommended that the number of dealerships in the U.S. be reduced.

CNBC has since retracted that report because it was Bain Consulting that was involved in the auto bailouts, and that company has no relationship with Bain Capital.

Unfortunately, there's the internet. That means that conservative blogs like Hot Air and The National Review pounced on the story. Here's the scathing original report on it from Hot Air:

Read more: http://www.businessinsider.com/cnbc-wrong-report-on-auto-industry-connection-to-bain-capital-2012-1#ixzz1jNZccqqG