Erin Burnett Can't Take The Heat

In yesterday's post I expressed my dismay that Erin Burnett, as a pundit on Meet The Press, was so dismissive of the public who have expressed outrage at Wall Street's greedy ways.

Indeed, she was condescending towards Senator Claire McCaskill (D, Missouri), Vice President Biden and President Obama because they had criticized the $18.5 billion of bonuses given to bank employees after the TARP funds had already been disbursed. Ms. Burnett called such criticism "populism" and "rhetoric," as if these three leaders had no idea of what they were talking about.

Here are Burnett's comments (with additional inserted observations):



Well, the story has gotten more interesting. This morning Adam Green of Progressive Change Campaign Committee posted an article on the Huffington Post also criticizing Burnett for her being "embedded" on Wall Street and, therefore, giving the party line for banks and financial institutions.

Evidently, later today, Burnett expressed her dismay at Green's concern to Jim Cramer, who then became her protector and ending up calling Green a "bozo." The entire situation is explained on Green's updated post, "An Open Invitation to Erin Burnett." Green invited Burnett to have an open exchange on a live blog, for all to observe.



I emailed Burnett, and cc'd David Gregory of Meet The Press, my disappointment with how she handled herself on the show. If you listen to Burnett's exchange with Cramer, she indicated she was upset that Green had not contacted her in advance. In his post, Green says he had indeed emailed her before posting his first article.

Here's the email that I sent to Burnett:

Dear Ms. Burnett,

I am writing to tell you that I was very disappointed with your Meet The Press performance yesterday, Sunday, 2/1/09. What bothered me the most was how condescending you were to the viewers - as well as to Senator McCaskill, Vice President Biden, and President Obama. I find it amazing that you would use the terms "populism" and "rhetoric" to criticize their expression of dismay over the Wall Street bonuses of $18.8 billion.

You were totally dismissive of the pain that people are feeling at this time. You said you understand the outrage. But do you understand the pain? Do you understand the injustice? Do you understand that the compensation of a Wall Street employee just might be excessive?

Even in your explanation of why an employee (Steve Forbes in your example) should get compensated for a job well done, you did't mention how much 'bonus' he should receive. So, if you would be kind enough, could you reply to me to let me know what the average bonus is for a Wall Street employee?

And, if that's not a 'bonus," what does such an employee make in salary? I'd just like to have those figures next time someone says I don't understand why $18.5 billion in bonuses should be given out in these times, with tax payer money (regardless of whether there is one pool of funds for disbursement or a thousand).

I have a request to make of you, Ms. Burnett. Would you please go over to the The Catholic Worker in NYC or the Sojourners Community in Washington DC and volunteer to feed the homeless. Or, volunteer to help build homes with Habitat for Humanity. Or, go visit an ER and talk with a poor mother who is there with her child for asthma treatment. And, then, only then go back to Jim Cramer and complain to him that the viewers didn't understand your condescension.

Finally, I have written Meet The Press and requested that they use a more balanced panel in the future. Two economists of opposing viewpoints would be better, and inform me more, than what I witnessed yesterday.

I look forward to hearing back from you regarding Wall Street compensation and about your experiences with the poor.

Sincerely,
mikecraud


I'll be interested to see if Ms. Burnett replies to my email. I'm not holding my breath, but I'll keep you posted.