More to debate than when things are going well.
Hmmm.. I dunno.. more things to tout and chimeras to chase when things seem on the upswing. Plus their advertisers, the ones that pay for the airtime and the talking-biz-heads' salaries, make money on trading and otherwise throwing money away.. not having folks sit on the sidelines and/or be frugal.
So, to a large extent the hyping cuts both ways, but the bull hype still kinda favors the networks doing the bull hyping. You don't make money telling people NOT to consume.
"financial porn", though.. absolutely.