Maven: Memory Lapse

The business media has finally done it, and at this point, there may be nothing my psycho-pharmacologist can do to help me. CNBC's lack of historical perspective and general giddiness actually forced me to laugh appreciatively at a comment by none other than that scourge of all decent investors, Henry Blodget.

God save us all.

Now, a lot of what The Business Press Maven writes about is directly actionable. The business media is getting this or that wrong, and since reality always catches up with misguided perceptions, there is opportunity in the gap between the two.

Here we must take a step back for larger understanding. Why? Well, I'm glad you asked that. Because the cause of so many of those misperceptions is an almost willful ignorance of history, even recent history -- and there has never been a better example. Even Blodget couldn't let it pass.

You might wonder why CNBC would even interview Blodget at all. I did. The only time The Business Press Maven even mentioned the scamp's name was to note that the only thing I cared less about than Blodget's blog was the opinion of imprisoned former Tyco (TYC - Cramer's Take - Stockpickr) Chief Executive L. Dennis Kozlowski. There are many who feel that Blodget, who rode Internet hype to the heights of Wall Street in the 1990s, should be sharing a cell with Kozlowski. He became the poster boy for all the conflicts of interest, inaccuracies and self-dealing of Wall Street analysts.