CNBC's Joe Kernen claims Sen. Elizabeth Warren wants billionaires to "stop creating jobs, stop creating wealth, stop succeeding" with her "warped" wealth tax proposal
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Several CNBC hosts and contributors endorsed the idea of billionaire CEOs running for president after former Starbucks CEO Howard Schultz teased a presidential campaign as an independent on CBS’ 60 Minutes. Some CNBC personalities supported Schultz as they discussed his potential candidacy and his event with CNBC’s Andrew Ross Sorkin, while others held up JPMorgan Chase CEO Jamie Dimon as the ideal CEO to run for president.
Squawk Box co-host Joe Kernen: “I’m a big backer” of Howard Schultz’s possible run for president as an independent.
JOE KERNEN (CO-HOST): My favorite line last night … where [Howard Schultz] said, “My biggest problem is with the $21.5 trillion [national debt]; that’s the most horrific example of what’s going” -- and it’s not just the Republicans’ fault. Not just the Republicans’ fault, the $21.5 trillion. Democrats share some of the blame too for that.
KERNEN: He’s a lifelong Democrat. He’s well intentioned -- I’m a big backer of his run here. I am. Big.
CNBC contributor Jeffrey Sonnenfeld: Howard Schultz exemplifies “five qualities of mythic American business heroes.”
SARA EISEN (CO-ANCHOR): Jeff, you know Howard Schultz, you know his track record as a businessman. Running as a centrist independent -- does he have a shot?
JEFFREY SONNENFELD (CNBC CONTRIBUTOR): I think he’s got a shot. I think he seriously intends to do it. He’s -- there are five qualities of mythic American business heroes, and he’s got all five of them. One of them is the common touch. He can relate to anybody, his humble origins growing up in a housing project. He’s overcome adversity. His dad had been disabled when he was young and Howard had a rough route early in his career. He’s a fabulous communicator; I’ve seen him electrify audiences as the third quality. And as a fourth one, he’s terrific at basically trying to show that he’s got sweeping social visions to get people quite excited. He’s passioned and principled about what he believes in.
CNBC host Kelly Evans suggested Jamie Dimon could “come out and potentially run an independent” for president because he’s “more centrist than either party.”
KELLY EVANS (HOST): You know, Robert, I’m also thinking about Jamie Dimon and there’s been a number of CEOs who have done quite well and probably are more centrist than either party, at least the energy in the parties represents at the moment. And someone like that could come out and potentially run an independent campaign, right? Or is that route completely over, a total dead end, and there’s no prospect for anybody of that kind of philosophy right now?
ROBERT COSTA (NBC NEWS POLITICAL ANALYST): You could flirt with the idea, talk about it with friends on Wall Street, or get encouragement if you’re at Davos. But you have to really make an effort to run in the national level in presidential politics. The most telling example of this is Michael Bloomberg. He has decided if he does run, it would be on the Democratic side because he knows the infrastructure within a party is almost necessary if you really want to compete. Jamie Dimon, if he wanted to run -- or Howard Schultz -- you have to get in right now and almost start to build your own party within the whole U.S. system.
EVANS: Yeah, like [President Emmanuel] Macron in France.
Fast Money panelist Karen Finerman: Jamie Dimon would be the best CEO to run for president.
MELISSA LEE (HOST): So who would be the best CEO to run for president? We wanted to ask the traders; each have their own picks.
KAREN FINERMAN (PANELIST): Mine of course would be Jamie Dimon. Not just because I love Jamie Dimon, but I actually think Jamie Dimon is a proven leader in the depths of the absolute worst crisis we’ve seen. He was so far above everyone else and I think he can work together -- When he does his annual letter, he lays out a lot of things beside just banking, right, and the economy. It’s a lot broader than that. It’s about what does America need to move forward and how do we work together to get that to happen. Obviously, I think that the stigma of being a bank CEO is still -- there is still something to that, right? I believe he’s a Democrat, would run as a Democrat. I think he would be great -- that bank stigma -- and him saying I’m not going to do it, but you never know.
LEE: You never know.
FINERMAN: That would be my choice.
Ever since President Donald Trump’s disastrous interview with NBC’s Lester Holt on May 11 2017 -- in which he may have admitted to obstructing justice -- Trump has given in-person TV interviews to only friendly journalists who mostly avoid asking tough questions.
Over the past year, Trump has appeared on television for in-person interviews 14 times and only with fawning reporters. He has given 11 interviews to Fox News and Fox Business, one to Christian Broadcasting Network’s Pat Robertson, one to Trinity Broadcasting Network’s Mike Huckabee, one to CNBC’s Joe Kernen, and one to ITV’s Piers Morgan. Oftentimes, rather than posing hard-hitting questions, the journalists use their time with the president to compliment his performance, criticize the media, and hype his achievements:
In total, Trump has given 23 interviews to print, TV, and radio outlets since May 11, 2017 -- 17 of which were with reliably sympathetic hosts:
May 13, 2017: Fox News’ Jeanine Pirro
June 23, 2017: Fox News’ Ainsley Earhardt
June 25, 2017: Fox News’ Pete Hegseth
July 12, 2017: Reuters’ Steve Holland
July 13, 2017: Christian Broadcasting Networks’ Pat Robertson
July 19, 2017: The New York Times’ Peter Baker, Michael Schmidt, and Maggie Haberman
July 25, 2017: The Wall Street Journal’s Gerard Baker, Peter Nicholas, and Michael Bender
September 28, 2017: Fox News’ Pete Hegseth
October 3, 2017: Fox News’ Geraldo Rivera
October 7, 2017: Trinity Broadcasting Network’s Mike Huckabee
October 11, 2017: Fox News’ Sean Hannity
October 17, 2017: SiriusXM’s David Webb
October 17, 2017: Fox News Radio’s Brian Kilmeade
October 22, 2017: Fox Business Network’s Maria Bartiromo
October 25, 2017: Fox Business Network’s Lou Dobbs
November 2, 2017: Fox News’ Laura Ingraham
December 28, 2017: The New York Times’ Michael Schmidt
January 11, 2018: The Wall Street Journal’s Rebecca Ballhaus, Michael Bender, Peter Nicholas and Louise Radnofsky
January 17, 2018: Reuters’ Steve Holland, Roberta Rampton, and Jeff Mason
January 26, 2018: CNBC’s Joe Kernen
January 28, 2018: ITV’s Piers Morgan
February 24, 2018: Fox News’ Jeanine Pirro
April 26, 2018: Fox News’ Ainsley Earhardt, Brian Kilmeade, and Steve Doocy
Pruitt shares the Trump administration’s preference for Fox News and right-wing media
Environmental Protection Agency Administrator Scott Pruitt has appeared on Fox News twice as often as on other cable and broadcast networks combined, and he has frequently granted interviews to right-wing talk radio shows and other climate-denying outlets, Media Matters has found.
Pruitt’s media strategy is right in line with that of his boss. During the 2016 presidential campaign, Donald Trump eschewed mainstream media outlets; it's a pattern his administration has continued since the election, favoring conservative and right-wing media outlets that are friendly to President Trump's agenda. By following the same approach, Pruitt has been able to push misinformation, avoid tough questioning, and appeal to the president’s political base.
Scott Pruitt has been a guest on Fox News a total of 12 times since his confirmation. From February 17, when he was sworn in, to August 14, Pruitt made twice as many appearances on Fox News (12) as he did on CNN, MSNBC, ABC, CBS, and NBC combined (6).* With the exception of two appearances on Fox News Sunday, Pruitt rarely faced tough questions on Fox News and was able to use the network as a platform for pushing misleading talking points without rebuttal. Pruitt appeared most frequently on Fox & Friends, Trump’s favorite show, which some journalists have criticized as “state TV” and “a daily infomercial for the Trump presidency” for its sycophantic coverage of the president and his administration. Pruitt made the following appearances on Fox News:
By comparison, Pruitt made only six appearances on the other major cable and broadcast television networks combined. From the time Pruitt took the helm at the EPA through August 14, he was a guest just six times total on CNN, MSNBC, ABC, and NBC, and he made no appearances at all on CBS. On each of these non-Fox programs, Pruitt faced questions either about whether Trump still believes climate change is a hoax or about Pruitt's own views on climate change. In response, Pruitt either avoided answering the question or repeated his “lukewarmer” stance that climate change is happening but we don’t know how much is human-caused. In all but one of these appearances, Pruitt repeated false or misleading talking points about the Paris climate agreement. Here are Pruitt's guest appearances on cable news and broadcast networks other than Fox:
*Pruitt’s appearance on Meet the Press aired on both NBC and MSNBC, but for the purposes of this study, we only counted it as an NBC appearance.
Pruitt has also been a frequent guest on nationally broadcast right-wing talk radio shows since his confirmation, Media Matters found. We examined the top 10 shows listed on Talkers.com's Top Talk Audiences list, as well as numerous shows broadcast on the SiriusXM Patriot channel, and found the following:
All of these hosts or outlets have denied climate change:
Pruitt’s right-wing radio appearances have extended beyond nationally broadcast shows. E&E News reported in May that Pruitt appeared on “the local morning talk radio show of a North Dakota blogger who described the Obama administration's EPA as an enemy to the well-being of his state.” ThinkProgress noted that during a “state listening tour” in North Dakota earlier this month, “Pruitt stopped by the conservative talk radio show What’s On Your Mind to share his thoughts on a number of EPA-related issues.” During that conversation, Pruitt referred to the “so-called settled science” of climate change.
And on August 10, Pruitt appeared on a Texas radio show, Politico reported, where he said his staff will assess the "accuracy" of a major federal climate report that's been drafted by scientists from 13 agencies. “Frankly this report ought to be subjected to peer-reviewed, objective-reviewed methodology and evaluation,” he said, ignoring the fact that the report has already undergone extensive peer review. Pruitt also used his appearance on the show to cast doubt on climate science in general.
In addition to his June interview on Breitbart’s radio show, Pruitt granted the Breitbart website an interview in March.
Pruitt also sat for a lengthy video interview in July with the fossil fuel-funded Daily Caller, another denialist online outlet. And he gave an interview in May to The Daily Signal, an online news outlet run by the Heritage Foundation, a conservative think tank that casts doubt on climate change.
Besides his appearances on cable news shows, Pruitt also went on cable business shows and networks that serve as platforms for climate denial -- most notably CNBC’s Squawk Box, where he told climate-denying host Joe Kernen that he did not believe carbon dioxide is a primary contributor to global warming. Pruitt has also frequently given interviews on Fox Business Network, which mirrors Fox News’ denialist stance on global warming. Pruitt made the following appearances on the Fox Business Network:
Scott Waldman of E&E News reported that after “weeks of blowback” from Pruitt’s appearance on Squawk Box, the EPA chief “shifted his media appearances to friendlier venues,” a move that “allowed him to tee off on a favorite series of talking points: Obama's energy policy was ‘America second,’ energy industry innovations have reduced the U.S. carbon footprint, the so-called war on coal is now over, EPA's job is to encourage business growth in concert with the environment, and the era of punitive action against energy companies is over.” Waldman also noted that Pruitt’s “courting of conservative media is on an entirely different level” from previous EPA administrators. From Waldman’s article:
To be sure, all administrations seek out friendly press. President Obama talked about health care on the "Between Two Ferns" comedy program with Zach Galifianakis, which Republicans criticized as undignified. And former EPA Administrator Gina McCarthy granted exclusive interviews to left-leaning outlets like Mother Jones and Grist.
But critics say Pruitt's courting of conservative media is on an entirely different level.
Liz Purchia, a former EPA spokeswoman under the Obama administration, said it's extremely unusual to place an administrator only on partisan outlets. She noted that McCarthy regularly interacted with reporters from outlets that produced coverage EPA officials did not appreciate.
"Only talking to far right-wing media outlets, they are only talking to a small group of Americans that regularly follow them, and they are intentionally going to reporters who will only ask them questions they want to hear and aren't speaking to the broader American people about their actions," Purchia said.
In Mother Jones, Rebecca Leber also reported that “since taking office, Pruitt has almost exclusively relied on a small number of conservative media outlets to tell an upbeat version of his leadership at the EPA, with occasional detours into the Sunday news shows,” creating “an echo chamber cheerleading the EPA’s regulatory rollbacks, Trump’s withdrawal from the Paris climate agreement, and its newfound anti-science denial.”
Leber also quoted Purchia remarking on how Pruitt’s approach to media interviews “isolates him from most Americans and instead plays to Trump’s base”:
Liz Purchia, an Obama-era EPA communications staffer, says the EPA’s attention to right-wing audiences resembles Trump’s tactics at the White House. “They’re tightly controlling [Pruitt’s] public events and interviews, which isolates him from most Americans and instead plays to Trump’s base,” Purchia said in an email. “They’re not trying to use communications tactics to reach a broad audience.”
Charts by Sarah Wasko
Media Matters searched the following terms in Nexis, iQ Media, and TVEyes to find Scott Pruitt's on-air TV appearances from the date of his swearing in as EPA Administrator on February 17 to August 14: “Pruitt,” "EPA administrator," "E.P.A. administrator," "EPA chief," "E.P.A. chief," "EPA head," "E.P.A. head," "head of the EPA," "head of the E.P.A.," "head of the Environmental Protection Agency," "Environmental Protection Agency Administrator," or "Administrator of the Environmental Protection Agency." We did not count instances of networks airing Pruitt’s appearance at the White House’s June 2 press briefing.
For radio appearances, Matters Matters searched the same terms in Veritone for the top 10 programs in Talkers.com's Top Talk Audiences list and the following programs that air on SiriusXM Patriot: Breitbart News Daily, David Webb Show, Brian Kilmeade Show, and The Wilkow Majority.
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In the wake of the Volkswagen emissions-rigging scandal, questions are being raised about the amount of influence automakers have over the enforcement -- or lack thereof -- of vehicle emissions standards. But rather than join in that conversation, conservative media are making excuses for Volkswagen's conduct and seeking to shift much of the blame to the Environmental Protection Agency and emission standards themselves.
Reality: Walker Has Struggled On Job Creation, Will Skip Debt Payments
CNBC anchor Joe Kernen praised Gov. Scott Walker's (R-WI) efforts "to get your state's finances in order" and suggested "reasonable people" would agree with his economic record. In reality, job and wage growth under Walker have trailed behind the national average, and he "will skip more than $100 million in debt payments to balance the books thrown into disarray by his tax cuts."
Kernen began his February 19 Squawk Box interview by telling the potential 2016 presidential candidate that "we've been together every step of the way on this show since your first election." He added, "I'm not going to recuse myself. But, you know, maybe [co-anchor] Andrew [Ross Sorkin] is here to grill you."
Kernen cheered Walker's economic and fiscal leadership. After Walker said he won his election because "in times of crisis, economic and fiscal in particular, they want leadership," Kernen said: "If there was an objective person watching the way the governor of Illinois approached that state's problems, and the way you approached it, I would think most reasonable people would say it looks like the way to do this maybe isn't just raising taxes to cover an ever increasing state budget."
Walker said, unchallenged, that Wisconsin's "tax burden is down, the economy is moving up, we've got a stable workforce, we've got all the sorts of advantages you want. And we're still -- plenty more work to be done, like it needs to be done across America, but there is a sharp contrast, no doubt about it."
This year saw landmark reports on climate change, detailing the ever-increasing scientific certainty that human activities are driving catastrophic climate change and that action needs to be taken to prevent the worst effects. Yet despite the fact that more Americans than ever support action on climate change, conservative media went to ridiculous lengths to cast doubt on the scientific consensus behind global warming, citing everything from free market economics to witchcraft, touting conspiracy theories and predictions of an "ice age," and even fulfilling Godwin's law.
Here are the 11 dumbest things conservative media said about climate change this year:
11. Bill O'Reilly: "It's Easier To Believe In A Benevolent God, The Baby Jesus" Than Manmade Climate Change. On the December 16 edition of Fox News' The O'Reilly Factor, Bill O'Reilly led a discussion on whether or not it is easier to believe in the birth story of Jesus than in manmade climate change, positing that it is "easier to believe in a benevolent God, the baby Jesus, than it is in some kind of theory about global warming." When his guest pointed out that 97 percent of climate scientists agree that human activities are driving global warming, O'Reilly baselessly countered, "I wouldn't put it that high. I've read a lot about it." He concluded: "[I]t's a choice -- people choose to believe."
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A flagship report found that acting on climate change and improving the economy go hand in hand, which was reported by business media outlets across the globe. But three prominent outliers left their audiences in the dark: CNBC, Fox Business, and The Wall Street Journal.*
On September 16, many major business media outlets from Fortune Magazine to BusinessWeek reported on a recent analysis finding that the next 15 years are essential for acting on climate change, and that it is possible to do so while simultaneously growing the global economy. The report, titled "The New Climate Economy" and carried out by the Global Commission on the Economy and Climate, refutes the "false dilemma" between economic growth and climate change mitigation -- an important finding for businesses that want to thrive in the decades ahead. From Reuters:
Investments to help fight climate change can also spur economic growth, rather than slow it as widely feared, but time is running short for a trillion-dollar shift to transform cities and energy use, an international report said on Tuesday.
Yet the report was ignored by three prominent business media outlets -- a disservice to their business audiences who deserve to know the economic risks of global warming. The outlets that ignored the findings of the "New Climate Economy" report may not come as a surprise: CNBC, Fox Business, and The Wall Street Journal all have a sordid history with reporting on climate change.
When the "Risky Business" report was released earlier this year -- another report detailing the economic costs of climate change inaction -- CNBC was caught soliciting a writer to talk about "global warming being a hoax" to rebut the report's findings. The network's on-air coverage of "Risky Business" featured Squawk Box co-host Joe Kernen criticizing the acceptance of global warming as "Orwellian groupthink." Media Matters analyses found that CNBC misled their audience on global warming in the majority of their reporting on the topic in 2013.
Fox Business also regularly offers demonstrably false reporting on global warming. Co-hosts have often claimed that global warming is over, or even that we are in a period of global cooling. When the Risky Business report was released, Fox Business mocked its findings of heat-related mortalities and dismissed the report entirely as using "scare tactics."
Similarly, Wall Street Journal dismissed the findings of the Risky Business report, with its editorial board calling one of its authors' suggestions for a carbon tax as economically harmful as the 2008 financial crisis. The Journal has downplayed and dismissed the impacts of climate change and other environmental threats for decades, and gives a frequent platform to "skeptics" that urge inaction on climate change and dismiss the basic science behind the consensus.
The New Climate Economy was heralded by political leaders around the world advocating a transformation in the global economy. By ignoring it, these outlets are showing that their priorities are at odds with businesses that want to prosper in a changing climate.
*Based on a search of internal video archives from September 15 to 12 p.m. September 17 for "climate" for Fox Business and CNBC, and a Factiva search for "climate" for Wall Street Journal.
Exxon-Funded Physicist William Happer Fulfills Godwin's Law
The cable business channel CNBC continued to push climate change denial on its network, hosting a professor who compared the "demonization" of carbon dioxide to the Holocaust.
Physics Professor William Happer has published no peer-reviewed research on climate change, yet co-host Joe Kernen introduced him as an "industry expert" on the July 14 edition of Squawk Box. After a softball interview with Kernen, co-host Andrew Ross Sorkin challenged Happer for "not believ[ing] in climate change" -- to which Happer responded by telling Sorkin to "shut up." Sorkin then asked Happer about comments he made to The Daily Princetonian in 2009 comparing climate science to Nazi propaganda. Happer doubled down on his comments, stating that "the demonization of carbon dioxide is just like the demonization of the poor Jews under Hitler. Carbon dioxide is actually a benefit to the world, and so were the Jews."
Sorkin also noted that Happer, who has suggested that people should be "clamoring for more atmospheric carbon dioxide," is the chairman of the Marshall Institute, which received $865,000 from ExxonMobil from 1998 to 2011.
While Sorkin's pushback was admirable, it's difficult to determine what benefit CNBC is giving its business viewers by once again hosting Happer to push climate denial, especially as it's becoming clear that unchecked climate change is inherently an economic issue that provides serious risks to businesses. A 2013 Media Matters report found that 51 percent of CNBC's climate change coverage cast doubt on the basic fact that the Earth is warming and that the majority of recent warming is manmade, contrary to a consensus of 97 percent of scientists. The channel recently came under fire for soliciting a story about "global warming being a hoax."
CNBC might also be able to find a few scientists who question whether HIV causes AIDS, whether secondhand smoke is dangerous, or whether vaccines cause autism -- as all three have a few contrarian "experts" supporting their cause -- but it wouldn't be responsible to give them a platform.
Refusing to act on climate change will be bad for business, according to a major recent report assessing the alarming risks of unchecked global warming on the U.S. economy. But while some top business media outlets recognize global warming as a serious issue for their audience, others are still stuck in denial.
On June 23, the Risky Business Project released a comprehensive analysis of the economic impacts of climate change in the United States. The study found that the current path of "business as usual" -- emitting carbon dioxide and other greenhouse gases responsible for driving catastrophic climate change without restrictions -- will reduce labor productivity of outdoor workers by up to three percent, reduce agricultural yields by up to 70 percent in some regions, and cost up to $507 billion in property damages from sea level rise by 2100. The co-chairs are calling for business to rein in their greenhouse gas emissions to prevent an economic crash on the scale of the 2008 financial crisis or worse.
However, some top U.S. business media outlets are denying that climate change is a problem worth addressing -- a disservice to their business viewers, who have a lot to lose. Here are the good, the bad, and the ugly cases of business media covering Risky Business:
In covering the study's findings, Bloomberg Television, a cable and satellite business news channel, featured an interview with former Treasury Secretary Henry Paulson, one of the report's co-chairs and a Republican. Bloomberg's Erik Schatzer began the interview by stating that "the research [on man-made climate change] is overwhelmingly conclusive," and went on to have a rational discussion about solutions to global warming that businesses can take today. Schatzer noted that Bloomberg Television is a child company of the media organization founded by Michael Bloomberg, another co-chair of Risky Business. Paulson suggested that businesses fully disclose their climate change risks, that they invest in "resilience," and that the nation "take out a national insurance policy" to respond to the impacts of climate change, adding that businesses must advocate for government policies that would allow the nation to "avoid the most adverse outcomes."
Paulson elaborated on "the cost of inaction" alongside former Treasury Secretary under President Bill Clinton, Robert Rubin, in a well-done interview on the June 29 edition of CNN's Fareed Zakaria GPS:
Fox Business's coverage of the Risky Business report ridiculed the impacts of climate change and brushed aside the findings as "scare tactics." On the June 24 edition of Cavuto, Fox Business contributor Lauren Simonetti asserted that the organization is using "scare tactics," going on to entirely dismiss the idea of increasing heat-related mortality, saying "what does that mean -- mortality?"
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