I listened to a lot of Monday morning quarterbacking on the radio this weekend by the longest-running syndicated business show host, Bob Brinker, of “Money Talk,” who has been broadcasting for two decades.
Brinker was largely blaming the current crash on Senator Phil Gramm (R-Texas) and President Bill Clinton for a 1999 bill that repealed the 1933 Glass-Steagall Act, which prevented banks from owning other businesses and creating a conflict of interest.
No problem there. Deregulation has allowed bank and money CEOs to play fast and loose with the American people’s money, and is now letting them continue to have their jets and mansions, funded by the taxpayers.
But here’s my question: I don’t recall Brinker complaining about this in 1999 and encouraging his listeners to take action. Did I hear the man, who is a market timer, warning his audience to get out of the financials six months or a year ago?
But I admit, I may have missed these things. I’m not a religioius enough listener, so I need your help. Did any of you get warned by Brinker or another analyst to sell before the crash? If so, drop a comment here, so the rest of us can start listening to a prognosticator with a real clue, not just another person with 20-20 hindsight.
Brinker claimed yesterday to run a nonpartison show, but that’s a lot of bull. I listened enough over the years to know he was a huge Bush supporter over the past two elections, so clearly his future money vision isn’t that great, unless you consider flushing 10 billion a month into an Iraqi toilet a smart move.
Brad Kava was a print news reporter and syndicated media critic for the Mercury News for many years and has also had numerous works published in the New York Times, Kansas City Star and Rolling Stone magazine.
Brad has had front page stories about everything ranging from satellite radio, digital music rights and terrorist bombings to features on well known authors and profiles on technology luminaries and CEOs. He was part of a team that won the Pulitzer Prize for covering the 1989 Loma Prieta earthquake and has done writing projects for the Los Angeles blues and rock record label, Delta Groove.
He has been a guest on “Nightline”, NPR’s “Morning Edition” and Howard Stern’s radio show, and is a regular media commentator for KCBS Radio, KGO radio and Fox TV affiliate KTVU in Oakland. His published interviews translated around the world have included musicians such as Keith Richards, James Cotton, Paul McCartney, Snoop Dogg, and U2.
Brad has won several awards for his writing, including second place for the Best Bay Area Columnist and Best Feature Story, and honorable mention for the Best Serious Feature Story. He was also part of the team that won a Pulitzer Prize for coverage of the Loma Preita earthquake.
