Friday, March 13, 2009

Jon Stewart vs. Jim Cramer: Takedown Part II

The Daily Show's Mar. 4, 2009 takedown of CNBC was brilliant, biting, and funny.

Stewart's interview with Jim Cramer on Mar. 12, 2009 was one of the most serious and substantive analysis (if not the most) of the purpose of the CNBC network that I have ever seen.

Jim Cramer was way, way, way out of his league.
Jim Cramer Extended Interview

First, Cramer assumed that he was the only target. Second, he completely failed to understand Stewart's fundamental issue: that CNBC was not giving value to the people who invest in pension funds and 401Ks, that it was, rather, a shill for Wall Street. Worse, it misrepresents itself as being for the former. Cramer simply did not get it.

This was a serious and often uncomfortable interview by Stewart, but it showed just how feckless the MSM (and the blogosphere for that matter) has been when it comes to business reporting.

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