Cramer vs Stewart
March 12, 2009
I’ve been working on another piece and its been taking me a while to finish, so in the meantime I thought I’d just write about a certain something thats kept me entertained for the last few days…
While Republicans and Democrats duke it out in Washington, another headline worthy exchange has been taking place within the media itself. Last week The Daily Show ran a segment about the business news networks and their clueless economic correspondents’, CNBC’s in particular. The feud began when Economic Analyst Rick Santelli was criticized for his televised tantrum on the floor of the Chicago Mercantile Exchange where he denounced President Obama’s plan to assist home owners who were fucked over by their banks’ bad loans. Santelli was scheduled to appear on The Daily Show later that week but cancelled… or as Stewart brilliantly put it, “bailed out”.
Along with the Santelli outburst were various clips of CNBC market analysts giving bad advice to investors. The one that’s received the most attention is of supposed economic guru, Jim Cramer, host of CNBC’s Mad Money. In early 2008 Cramer encouraged investors to buy Bear Stearn stock based on what’s known to be his dependable instinct. Weeks later Bear Stearns collapsed. Cramer, later in the year, went on to express his optimism about Bank of America stating “I like Wachovia but I think without a doubt, Bank of America is going to shoot up to $16 a share”. Today Bank of America stands at $4.93.
Here’s the actual clip. It’s pretty hilarious.
Anyway, after being confronted about the clips on The Today Show, Cramer confirmed he’d meet Stewart face to face on the program to discuss the debacle.
Excuse me but what the hell is wrong with Jim Cramer? Nevermind the fact that his credibility is already being questioned, why the hell would he even think about going on The Daily Show? Since you’re probably not as big a fan of Jon Stewart or The Daily Show , you probably don’t know about an eerily similar confrontation with former TV personality Tucker Carlson. In 2004 Stewart appeared on CNN’s television debate show Crossfire and stated that Carlson and his co-host, Paul Begala, were “partisan hacks” and charged them with “failing miserably” by not providing the public with an actual news show. Shortly after the appearance execs canceled Crossfire. Aside from the fact that this was probably one of the greatest moments in television history, Stewart made Carlson look like a total a dick and since then his career has reduced to fill-in guest appearances on Larry King Live. By going on The Daily Show Cramer is basically jeopardizing his television career even more.
He’s scheduled to appear on The Daily Show tonight. If you like what you see I suggest you check it out, its one of the smartest “news shows” we got.
