Jim Rogers, chairman of Rogers Holdings, likened CNBC to a PR agency yesterday, during an appearance on CNBC Europe. The comment came in response to a question about the recent “stress tests” of European banks.
Here’s the exchange that took place at around 3:40 in the above video:
ANNA EDWARDS: So in that sense, could you say that the stress tests have proved to be successful?
ROGERS: Well, I said it was PR, Anna. They’ve got the stocks up. That’s the whole purpose of PR, make stocks go higher. That’s what CNBC and many many PR agencies are all about. Yes, they make things look better for a while. Are they really better? No.
Watch as Rogers laughs when the CNBC anchor says the network is “just reporting the news.” [h/t Mediaite]