Author Topic: Pretty funny - John Stewart smackdown on Cramer  (Read 6207 times)

claphands22

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #10 on: March 13, 2009, 04:48:57 AM »
You can watch the full episode of The Daily Show with Jim Cramer here.
http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

It was an absolutely beautiful show. I cringed when Jon Stewart played the video of Cramer explaining how to short a company by spreading rumors.  Cramer said it was a great way to make money since the FCC wasn't fast enough to catch on. What a weasel. 

The staff at The Daily Show deserve crowns in heaven. 
« Last Edit: March 13, 2009, 05:14:56 AM by claphands22 »


NumquamPerdo

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #11 on: March 13, 2009, 06:12:15 AM »
Very well researched on Stewart's part!  I wonder if he's been speaking with Patrick Byrne...

T-bone1

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #12 on: March 13, 2009, 07:12:00 AM »
I think this could be the start of a trend. For me at least, it is almost startling to see someone ask serious tough questions of some of these people . . . probably because I have never seen it before. My natural reaction is to think that Cramer deserves a break, as ScottyJukeBox says, because a lot of people got this wrong . . . but that is inside the box (or inside the system) thinking.

Stewart makes the excellent point: should Cramer be doing this at all?

If you step back from the difficulties of forcasting stock movements on a daily basis, this guy is in the business of getting people to trade stocks. His sponsors are brokers. He is nothing but a shil for Wall Street, and yet he holds himself out as the wise friend of the common man.

I don't have anything against Cramer, and there certainly is a market for this type of show. I don't have anything against Casino's either (was it Munger who calls them a "math tax"?). My only point is that it was a real culture shock for me to see someone mainstream (or anyone other than Patrick Byrne) asking these types of questions.

I think we might be entering an era, not unlike the 30s, where the American public believes Wall Street is working against there best interests. For this reason I think the financial services industry will shrink, and I have considered shorting some players.

Viking

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #13 on: March 13, 2009, 08:01:08 AM »
Regarding what has gotten us into this problem in the first place, perhaps Jon should have simply followed the money... The ratings agencies did what they did because of the $ they stood to earn. Companies juiced short term results (leveraged up and too on enormous risk) to get more ever increasing stock options. How does CNBC mke money? Advertising and by getting CEO's to appear on the show, both of which would dry up if they played hardball. End of story...

Stove

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #14 on: March 13, 2009, 08:31:49 AM »
T-Bone raises a good point - this is one of few times in the (slighty more) mainstream media has even raised the issue of widespread collusion amongst industry players, back office deals, etc.  But way too many people see Stewart as a loony lefty - can you imagine the reaction of this show from Cramer loyalists?  They probably think Cramer is being treated as simply the first of many scapegoats that the democrats will throw to the wolves.

Bottom line - Cramer's tv show is through - he couldn't even defend himself on the Daily Show, except to say he 'should have done better."  Maybe he can ressurect his career by helping to uncover the very nefarious practices he used to employ.  Perhaps there is an opening at deepcapture.

Smazz

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #15 on: March 13, 2009, 04:15:50 PM »
Im always amazed at how Stewart is able to come off both hilarious and brilliant with the broad specter of guests he has on his show and is always very well prepared. 
So, he does a comedy AND human interest show in the same 22 minutes. Unbelievable. His show always makes me laugh and I was afraid he would run out of material once GW left but looks like hes got some new whipping boyz..

valuecfa

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #16 on: March 13, 2009, 04:22:13 PM »
How Jim Cramer is allowed to practice financial journalism when a video like this is out there is insane:

http://blog.indecisionforever.com/2009/03/11/jim-cramer-admits-something-weird-to-some-weird-guy/

This is how Cramer says to make money on Wall Street. At the end he says fundamentals don't matter, and the way to make money is to manipulate markets. If you're not doing that, then maybe you shouldn't be in the game. What a jerk! How does he not get a subpoena for this video?

Carvel46

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #17 on: March 13, 2009, 05:56:55 PM »
I love the part where Stewart says the difference between them is that he acknowledges he's a snake oil salesman. Well said!

Since Stewart is a comedian with a TV show, I don't understand the reverence people have for him?

I recall a quote by Buffett (can't find it now) but paraphrasing-- that one measure of a society is the quality of financial journalism.

Cramer is not a journalist, he's an an adrenaline junkie. There is no way you can call him a journalist... it's  not a debate. Stewart sets him up as straw man, it's stupid. Cramer is like an alcoholic.

How can you tell if an alcoholic is lying? His mouth is moving.


Smazz

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #18 on: March 13, 2009, 10:53:32 PM »
Guys,
Ive asked this question at the beginning of the thread and I really dont know the answer. I would not know what Channel or time to find him on (Ive only seen him on the TV when I am visiting my parents) but DOES HE STILL HAVE A SHOW???

IF so, what is he saying to these people after all this?

I think he is on MSNBC? is that correct?

Vizi1

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Re: Pretty funny - John Stewart smackdown on Cramer
« Reply #19 on: March 13, 2009, 10:57:10 PM »
My favourite line was

" I want the Cramer on CNBC to protect me from that Cramer" - Brilliant....