Thursday, August 13, 2009

Jon Stewart spanks Jim Cramer

Jon Stewart demolishes Jim Cramer in this extended version of his interview on "The Daily Show":

Jon castigates Cramer for constantly switching positions on stocks, and in particular for his role in the "shady hedge fund days", showing videos in which Cramer indicates that it was easy to manipulate markets by spreading misinformation.

"You knew what the banks were doing, and yet were touting it for months and months, the entire network was; so now to pretend that this was some sort of crazy, once-in-a-lifetime tsunami, that nobody could have seen coming, was disingenuous at best, criminal at worst", states Stewart.

"I understand that you want to make finance entertaining, but it's not a ... game," Stewart told Cramer. Cramer responded "Should we have been constantly pointing out the mistakes that were made? Absolutely. I truly wish we had done more."

Someone (kinoptikation) comments "wish to see Jon Stewart pick up the topic on why this guy is still on CNBC and going on Morning Joe attacking, once again, The Daily Show... Jim Creamer should be unemployed by now, please make it happen".

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