Yahoo just loves blogs, that most social of social media — except when they're spreading vicious lies about the company.

On CNBC this morning, Terry Semel slaps web rumormongering about widespread Yahoo layoffs. Valleywag should be the last site to assign blame, but I suspect Semel's referring to Techcrunch's report on Tuesday, which had Semel out, Dan Rosensweig promoted, and 20% job cuts which did not materialize. Listen to the full 8 minutes of turgid CNBC-speak about customer value. Or, for the key clip:

Semel: Everyone is taking as a fact and it is not a fact, that were talking about laying off 15-20% of our workforce, and that is not the case. We're hiring people as we talk. And to some degree it became fact, or a fact, that many people gravitated towards.

Interviewer: Well, it was on the internet, so it must be true.

Semel, sarcastic: I would imagine so, if it was on a blog what (else) could it be?