Jon Stewart’s indictment of CNBC
Last night I featured a video from Jon Stewart that skewered CNBC, and specifically Jim Cramer. The video is quite funny as Jon Stewart’s show is a comedy show.
However, since that segment aired, Jon Stewart has decided to end the comedy and take a much harder and more serious tone on this issue. Today I would like to highlight last night’s Jon Stewart interview with Jim Cramer because it is not funny. It is an indictment of CNBC, of Jim Cramer, and of the entire financial media as a complicit enabler of the most prolific credit bubble in history.
I am not making a statement here one way or another. But, I do feel these are clips everyone should see. They are quite sobering. Warning: these videos contain strong language.
Update 912AM EDT: The guys over at FT Alphaville have an interesting take on all of this. Read Izabella Kaminska’s article here: Cramer capitulates.
And Barry Ritholtz has a good take as well: Anti-Climax: Cramer vs. Stewart.
Busted: CNBC Sleaze Jim Cramer Blabs on How He Shorted Stocks and Manipulated Markets – AlterNet
Former GOP Rep. wants Cramer ‘looked at’ for market manipulation – Raw Story