http://tpmmuckraker.talkingpointsme...avish_lifestyle_of_another_allege.php?ref=fpb Jon Stewart has already cornered the market on lampooning CNBC for the chronic lack of skepticism that characterized its coverage of the financial world during the boom years. But the network's failure wasn't just a case of cheer-leading for Wall Street banks that made bad bets on the housing market. Both before and after last fall's financial crisis, CNBC has lavished fawning coverage on several high-flying financiers who later, say prosecutors, turned out to be little more than frauds. And this past week offered the latest example. Tim Durham, a politically-connected Indiana businessman, was accused by the Feds of using money from new purchasers of his company's investment certificates to pay off earlier investors -- in other words, running a Ponzi scheme. Prosecutors acted a month after an investigative report in the Indiana Business Journal had raised questions about the ability of Durham's company to pay back investors. CNBC had taken its own look at Durham in 2008. But unlike IBJ, it didn't bother itself with the pesky details of his company's financial profile. Instead, it profiled Durham in a segment entitled: "Untold Wealth: The Rise Of The Super-Rich." The network reported that Durham's 30,000 square-foot home has 20 TVs, and that he owns almost 70 cars, "but sometimes loses count." On its website, it posted a slideshow celebrating Durham's conspicuous consumption.