Dylan Ratigan Wants a Bigger Footprint
Dylan Ratigan’s abrupt departure from CNBC last week was the latest blow to the top-rated financial news network. The CNBC anchor was among the network’s more outsize personalities whose star had ascended as the financial markets plummeted.”I’m willing to take the risk of not renewing my contract at CNBC and looking at opportunities in cable and broadcast,” said Ratigan during a phone conversation on Monday.
Ratigan came out early against the rampant greed of Wall Street. Months before populist outrage over the bailout and AIG bonuses reached a fever pitch, Ratigan was railing against the “vampires” on Wall Street who were bleeding our 401Ks dry. It was a point of view that put him in opposition with many of his colleagues at CNBC.
Ratigan says that he wants to continue to explore the greed, corruption and regulatory breakdowns that have led to the current global meltdown. But he’s apparently looking for a bigger stage than was available to him at CNBC.
“I believe that there have been some major policy failures in this country and I’m looking for the broadest possible foot print to look at that story,” he said.
CNBC spokesman Brian Steel said, “We thank Dylan for all of his quality contributions and we wish him well.”
Ratigan has a six-month non-compete clause in his contract, according to sources, so he will not be going anywhere fast unless CNBC waives the clause. Rumors of a perch at ABC News and Good Morning America were shot down by sources at ABC. (Additionally, Mellody Hobson, president of Chicago-based money management firm Ariel Investments, has been a financial contributor on GMA since 2000. The network is currently readying a special primetime hour with her, which could be a test run for a bigger profile at the network.)
Ratigan’s departure underscores some of the programming issues at CNBC. Ratigan’s star vehicle was the ribald stock-picking show Fast Money. (Melissa Lee is filling in as host until a permanent replacement is named.) And while the tone of Fast Money had gradually shifted from wealth accumulation to wealth preservation as the financial crisis deepened, it is still primarily a show for a bull market. How long Fast Money can persevere in a decidedly bear market remains to be seen.
Ratigan’s defection also follows on the heels of the more organized adieu of Jonathan Wald. As CNBC’s senior vice president of business day programming, Wald presided over a streak of record ratings spurred by the financial crisis. He also oversaw the deployment of CNBC talent including Ratigan and Erin Burnett to various NBC News platforms to walk viewers through the meltdown morass and the alphabet soup of government bailout acronyms.
Ratigan appeared frequently on NBC’s Today and MSNBC’s Morning Joe.
Wald announced he would leave the network last month. His last day is Tuesday. Tyler Mathisen, managing editor and Wald’s number two; will take over in the interim. The long-form unit, which has been without a senior executive since Josh Howard left in December, will report to Ray Borelli, who is the head of research.
All of the internal upheaval comes as CNBC has endured two very public episodes - the fallout from Rick Santelli’s Howard Beale moment and Jon Stewart’s public lashing of Jim Cramer. And while both of these incidents brought CNBC a modicum of mainstream media notoriety, they haven’t exactly burnished the brand.
Bob from Dbn Hts commented:
I would love to have Dylan Ratigan continue to rail against the Wall Street & Washington establishment/insiders, it needs to be done, thats why the country is in the sad mess its in. Go Dylan!!! Dosen't the country have the right to know what is going. The educated insiders have had their day - to what end, certainly not to the betterment of this Country.
C. REYNOLDS commented:
DYLAN SEEMED TO WANT TO PUSH THE ENVELOP, PUT THE DEBATE ON THE TABLE AND LET THE CHIPS FALL WHERE THEY MAY. HAD THE FEELING THERE WERE THOSE ON CNBC WHO WISH TO PROTECT THEIR WALL STREET FRIENDS WITH AN UMBRELLA OF DAMAGE CONTROL. SOMETHING LIKE THE BLACK SOX SCANDAL, "TELL ME ISN'T SO JOE" THKS
WORST HOUR.
Joe Nodecafplz commented:
Get your ass back on the air Dylan. We're missing you.
george commented:
I'll miss Dylan althought he was beginning to think that his opinion was more important than reporting financial news. Unfortunately, the personal opinions of the so called reporters has become all too common and has made CNBC obnoxious. Melissa Francis and Larry Kudlow on "The Call", Michelle Caruso-Cabrera and Dennis Kneale on "Power Lunch" really believe that their personal opinions are much more important than reporting objective financial information. CNBC apparently has given on quality reporting of people like Bill Griffeth and Sue Herera for the sake of ratings generated by these loudmouth know nothings.
quickreel commented:
Ratigan outgrew CNBC, it was a s simple as that!
Patrick commented:
Dylan was the best. Period. Inconceivable that CNBC let him go. He WAS Fast Money. I tried watching the show the first few days after he left, but couldn't stand the new host. That show is NOT her element. So, I've stopped watching it altogether.
Dylan was just about the only host willing to take on the most obnoxious, self-serving, melodramatic lightweight on CNBC--Charlie Gasparino. Dylan wouldn't tolerate Charlie and his adolescent behavior--always shouting and interrupting other people and constantly claiming oversized credit for anyone he reported on. That Charlie is still there and Dylan is gone, says it all about CNBC. The entire channel needs an overhaul, starting with the programming VP. What an idiot. Any bets on a big ratings decline during the 5 pm slot?
Greg commented:
I was shocked to hear of Dylan's departure from CNBC. His genuine anger most recently on Fast Money at the greed and fraud that was pervasive in Wall Street and in some areas of Washington represented how Main Street feels. To me he was Fast Money always bringing the trader discussion to a level the regular person could understand. I hope he is back soon and has the platform he deserves.
John commented:
Dylan was truly the finest financial news reporter...followed closely by Erin, Joe, Becky, and Carl. I will miss him on my favorite shows, Closing Bell and Fast Money, but with Macke, Pete, Guy, Karen, and Tim, the show will go on. I certainly hope Dylan finds a platform because, without question, he knows the problem and is not afraid to get to the bottom of it. God bless him and I hope he finds something soon, I'll certainly be in his audience.
Joe M commented:
Dylan Ratigan's out - so am I. How much of a moron would you have to be than getting rid of
such a talent? This VP makes a good argumnent why women should be at home doing the laundry.
Babs commented:
Dylan was outspoken and informative. He always took the time to explain things and called on the others to do the same. I simply will not watch the show without him.
Lou in Chicago commented:
I miss Dylan Ratigan! He was the best of the best. The show is not the same without him.
You blew it when you lost him.
diggory commented:
I really liked Dylan, and Fast Money isn't the same without him. I no longer look forward to watching a show that I never missed before.
diggory commented:
I really liked Dylan, and Fast Money isn't the same without him. I no longer look forward to watching a show that I never missed before.
Mark commented:
It is a shame that we have lost somebody like that in the media. Mark Haynes and Jim Cramer are the only host left who ask the tough questions. The rest just go along with whatever the guest wants to "sell" to the public. We will miss Dylan and we need more people like him who will inform us and stand up for the common man.
Michael commented:
Dylan was a breath of fresh air from all the market pumpers. In my view he also kept the panel on track and tried to get them to answer the questions asked.
Yes he was full of himself at times but then that seems to be an occupational hazard for the so-called business news reporters.
I believe CNBC is the lesser with him gone. As for Fast Money the show is looking tired to me anyway. Like many shows of its kind after a while the freshness wears off. In my view the last year has seen to many repeating guests like Pete's brother John or Josh who are basically pumping the market or their positions.
So the network has chosen to push Fast Money like the rest of its shows, as Stewart said, into just keeping up its bullish theme and agenda instead of reporting the facts. Except of course when Charlie or Steve can be the pawns of the Gov and come in and try and pump the market at the end of the day.
It may be Dylan was unhappy with the way the producers were moving the show and saw the hand writing on the wall and chose to move on.
Also it seems like CNBC is using Kudlow more and more which is more then I can take.
Anyway good weather is here and time for us old retired folks in CA to play more golf in the afternoon. LOL
Michael
BobEM commented:
"He protesteth too much."
That's how Ratigan's recent diatribe against the abuses on Wallstreet struck me. They were a very recent interest of his. Those who really paid attention to him earlier on couldn't help noticing how roughshod he rode over people questioning long existing abuses such as naked shorting. No his outburst are of recent vintage; they were frequent, planned and had a certain theatrical quality about them.
It's hard not to suspect that they were part of his positioning for a new job.
Mark commented:
I think Dylan's ego has gotten the best of him. I don't know where he'll find a soap box with as much exposure as his multiple rolls at CNBC. Although he always seemed a bit frazzled and loose cannonish, he was able to spend most of the day in front of the camera spouting off.
No matter where he goes, he'll be under a much more restricted regiment. Host of 20/20? His own ONE hour special a week? -Boring, and very limited air time. Fox business? -strange and depressing.
Someone needs to remind him that most of his new found notoriety is a result of the financial crisis, not his 'brilliance.'
Fast Money does suck without him.
Bill commented:
We never missed a show, 5pm fastmoney! Now that he's gone its not the same and i no longer watch the show. He was the show.
Cathy commented:
I used to absolutely love the guy when Fast Money first started. We never missed it. Dylan is truly brilliant and gifted, but he had gotten out of control over the last few months. He is clearly angry at the banks and insurance companies who he believes caused the economic situation we are in, and cannot report without showing that anger. He bullies those who do not agree with him. I noticed that the Fast Money traders and also the guests do not seem comfortable with him, because he has become a loose cannon and hard to control. I believe that is why they had to let him go. There was palpable discomfort when he was on the set.
Bob commented:
Dylan Ratigan is a true business-media talent. The guy has been a class act on Closing Bell and was a gifted matador on Fast Money. It's rare to be able to explain CDOs to both the experienced and the business challanged- the only other person I know that can do that well is Jim Cramer. I surmise he's on to bigger and better things, but if he reincarnated at CNBC that would be fine with me.
ranting,raving 4 Ratigan commented:
You confuse ego for leadership.
Yeah he did crack the whip a bit, but it gave the show momentum.
Ratigan's comments were always fair and his humor is witty.
At times Ratigan was bold enough to articulate what every viewer was thinking during this crisis.
Wherever he lands, he's sharp and he's on point.
Kirk commented:
Dylan began exhibit sensationalism over the last year. His questions became ramblings and his constant interuptions of those trying to answer were downright annoying. Although an original fan of Fast Money, I had lost interest due to Dylan's ego problems.
whitemeat commented:
the rudest guy on TV./ constantly interrupting Wall ST pros to give his strange pinions, I hope he ends up onQVC.
Mike commented:
Scott does like him, that's fine. I for one thought he was a great reporter. He asked tough questions and pressed when people wouldn't answer. He's not supposed to have the answers(though, he is brilliant in my opinion), he's just supposed to make sure the story gets out.
Scott commented:
It sounds like you think he was some champion against wall street. What he was is a guy that went off on tangents, reporting his emotions, not the story. His ego is too big for him to see the humor in a guy that hosted a show called Fast Money now thinking that he is some shining light that will uncover all of the dirt for us little people. Baffling, couldn't stand the guy....hope I don't have to hear him say his favority word "transparency" ever again. I wish even more that the crisis was that simple.
basaltmark commented:
How could he stay? He would be participating in the scam if he did. Obviously he has some ethics.
GTFOOH commented:
He was an Asshat that thought he knew everything, not unlike most of the male commentators at CNBC (Haynes, Santelli, Cramer, Kudlow)
moondancing commented:
I never watched the channel, but sounds like his leaving is our loss. I wholeheartedly agree that AbuGharib is too good for the pirates of Wall Street.
Chubby Davis commented:
Dylan wasn't bald an that's an asset for working at CNBC
Arbusto commented:
Maybe he can use his 6 month hiatus as an investigative reporter at HuffingtonPost new unit. That'd keep him as a talking head for other cable & network news.