Jon Stewart Vs Jim Cramer

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This show will probably go down as a classic in TV history as Jon Stewart on his Daily Show not only takes a swing at stock-jockey Jim Cramer but the way the financial media, markets and business have colluded for their great “Adventure”. Skip to 5m18s to get into it. An extract:

There’s a gap between what CNBC is what it advertises what it is… Isn’t there a problem selling snake oil as vitamin tonic?… The difference is not good call and bad call, the difference is real market and unreal market. CNBC could be an incredible tool of illumination for people who think there is a market going on in the back room – it’s fast, ethically dubious. It feels like we are capitalizing your adventure with our pensions – and that it’s a game you know is going on and you go on television and pretend it’s not happening.

I can’t reconcile the brilliance of knowledge that you have with the bullshit you do every day. This [recession] is ten years in the making and it’s not going to be fixed but the network is blaming mortgage owners.

You are pretending that you are doe-eyed innocent. I understand that you want to make finance entertainment but it’s not a game. When I watch these clips – it says you all knew. You can draw a straight line from [your] shenanigans to the stuff that was being pulled at Bear to AIG and this weird Wall Street side bet… you knew what the banks were doing, so as to pretend that this was a once in a lifetime tsunami that no one could have predicted was at best ingenuous and at worst was criminal.

Jon Stewart Daily Show