Ron Paul: This the end of an era

“This is not going as planned”

Ron Paul’s opening statement at the House Financial Services Committee was broadcast live to an audience of millions.

CNBC went live to the House, clearly without knowing that the Texas Congressman had the initial Republican statement at the hearing of Fed Chairman Ben Bernanke.

After the Congressman spent two and a half minutes lecturing Bernanke on sound money principles, warning that the financial crisis cannot be solved by merely creating credit out of thin air, CNBC cut back to the studio.

Anchors Erin Burnett and Mark Haines were so perturbed by what they had just heard that they immediately cut to a commercial break:

  • Haines: “This is not going as planned”
  • Burnett: “No it is not”
  • Haines: “We were told that there would be a very limited number of opening statements, and it seems to be getting out of control.”
  • Burnett: “Here’s what we forgot, everybody is taking this live, you know what that means? Why would they miss an opportunity for free air time?”
  • Haines: “We’re going to take a commercial break and get them out of the way, so that when something really substandard [he must mean substantial?] is happening, we don’t have to interrupt them.”
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