CNBC is the self proclaimed leader in business news, yet the recent on-air behavior of their On-Air Editor, Charles Gasparino- who also appears as a daily member of CNBC's ensemble- has caused great damage, fear and panic in the markets.

Gasparino, in his role as on-air Editor, is supposed to provide news reports based on fact and tangible evidence, and while he has covered some of the biggest stories affecting the financial markets in recent months, his most recent fumbles and biased opinions about the banking industry, and in particular his completely mistaken and off the mark misrepresentations about the Obama administrations efforts to save the banking industry in the United States have crossed the lines and blatantly breached journalistic integrity.

As the most recent example, we would like to cite what he reported about the government's intentions to ease the banking crisis. Mr. Gasparino reported that members of the Obama administration were "more confused now than ever before" in regards to their efforts to add an aggregator bank. He also reported that such efforts to solve the banking crisis were "in limbo"- yet multiple White House officials and news agencies like the Associated Press and Reuters have since reported that all efforts are "on track" and will likely be announced shortly.

Gasparino's increasing use of anonymous "sources" (who, if they even exist, have obviously led him astray) and his ego-driven, free reign without any apparent editorial supervision have caused panic and fear in investors. His rants have spurred sell-offs at perhaps the worst possible time, given the fact that the markets themselves are teetering on the edges of a very dangerous cliff. For that, he must be reigned in and held accountable.

Mr. Gasparino, who is also a columnist and a freelance writer for other publications, has been challenged on several occasions by other CNBC contributors and staff on the air. More than once, co workers have questioned the legitimacy and accuracy of his reports, but he is always quick to rebut and dismiss anyone who disagrees with him or questions his reports' integrity- often times refusing to attribute his facts to anyone but "my sources."

His cynical, disparaging, insinuating, malicious, sarcastic, and snide responses- not to mention his sneering- appear completely unprofessional and ego-driven; and yet he insists on becoming the story instead of reporting it. He and CNBC continue to betray the trust of their viewers and often cause great harm to the companies, entities and financial markets they cover.

Viewers of CNBC business news programming are investors, business executives, financial professionals and others who depend on the delivery of untainted, un-biased news and information to make significant decisions that affect not only their own portfolios, but also entire markets.

These recent episodes illustrate serious disregard their jobs as journalists and editors and it is time that CNBC reverse course.

The network's use of "experts" like analyst Meredith Whitney to bash and present particularly pessimistic opinions of the American banking sector without so much as disclosing that her firm- Oppenheimer & Co.- owns part of the Canadian Imperial Bank of Commerce is not only irresponsible, but just as likely reckless and illegal.

A signed copy of this petition will be presented to the U.S. Securities and Exchange Commission, whose job it is to to protect investors and the markets. We'll let them decide whether any violations exist. In the meantime, we urge you to find fairness, balance and integrity in your reporting of the news so that the current turmoil in the markets isn't made worse by any members of your reporting and editorial staff.

cc: NBC Universal, General Electric, U.S. Securities and Exchange Commission

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