Pretty funny - John Stewart smackdown on Cramer

[Smazz]

sorry if this is a repost but some funny stuff:

 

http://www.youtube.com/watch?v=Nw5JN2pUZlg&feature=related

 

that was the financial version of "homina homina homina homina"

 

Serious Q, does he (Cramer) still have a show - not joking because the only time I would see him is if I am visiting my parents and for some reason it is on over there.

 

 

P.S> anyone know how to post links in the short form on here?

used to be able to do it by [link=www] title [/link]

[nodnub]

Smazz, you can do it in the almost the same way as you have described.  Just use "url" instead of "link"

 

Test text that links to google

 

[url=http://www.google.com]text[/url] 

 

 

[oldye]

hilarious!!

[scottyjukebox]

that was great!!!..I really enjoyed cramers comment that he could show you tapes of buffett making recommendations that would make him look like a fool.  Hmmm..I didnt know Warren made stock recommendations.  I do feel a bit sorry for cramer though..after making calls on buying or selling 5 days a week the guy is bound to get a couple wrong...lol

[Guest ericopoly]

Actually, while Warren does not make stock recommendations, he did say on Monday that AXP is a heck of a deal at $10.

 

He will be right about that of course. 

 

It is pretty close to a stock recommendation -- I couldn't believe he said it, very unusual for Buffett.  He also said Wells Fargo is at about $40b in pre-tax pre-provision income -- that's practically another recommendation right there.

 

[Rabbitisrich]

We probably haven't seen BRK purchases of AXP because Buffett didn't want to be subjected to the "source of strength" doctrine.

[oldye]

According to Buffett, AXP is becoming a bank holding company and he can't own more than 9.999% without special permission. 

[Viking]

I just finished watching Jon and Cramer go face to face... I am not sure what Cramer was trying to accomplish by going on the show. Jon provided many examples of how CNBC is blowing it and Cramer just kept agreeing and was unable to say anything that made any sense the whole time. Cramer should have simply said that very few people knew how bad things were. Cramer also should have fessed up that his show has a lot in common with the World Wrestling Federation (is it really real???)!!! I was also surprised at how angry Jon was during the interview (there wasn't a lot of comedy)! Serious stuff I guess. Let's see where it goes from here...

[Grenville]

Impressive interview between Cramer and Stewart. Kudos to Jon Stewart!

 

http://www.thedailyshow.com/video/index.jhtml?videoId=221516&title=jim-cramer-interview-outtake

 

[Parsad]

I just finished watching Jon and Cramer go face to face... I am not sure what Cramer was trying to accomplish by going on the show. Jon provided many examples of how CNBC is blowing it and Cramer just kept agreeing and was unable to say anything that made any sense the whole time. Cramer should have simply said that very few people knew how bad things were. Cramer also should have fessed up that his show has a lot in common with the World Wrestling Federation (is it really real???)!!! I was also surprised at how angry Jon was during the interview (there wasn't a lot of comedy)! Serious stuff I guess. Let's see where it goes from here...

 

The funny thing is that John Stewart is a financial layman.  How can guys like Cramer, or for that matter Mr. Joe Kiernan who likes to jump into the Becky Quick interviews with Buffett, respond if someone knowledgeable actually questions them?  Did anyone else here think that Kiernan jumping into Quick's interview with comments about the Schering merger sound ridiculously moronic?  Another perfect example of how CNBC caters to Wall Street idiots and the short-term trader.  

 

Nothing will come of these confrontations.  It never has and never will.  Hopefully a few minds get changed, but nothing significant will ever happen because it is a highly collegial atmosphere.  One that regulators are reluctant to change, and one that the media whores benefit from.  Cheers!

[claphands22]

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. 

[NumquamPerdo]

Very well researched on Stewart's part!  I wonder if he's been speaking with Patrick Byrne...

[T-bone1]

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]

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]

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]

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]

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]

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]

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]

My favourite line was

 

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

[Smazz]

I dont mind this guy Aaron Task but working at "The Street" and saying he didnt think Cramer did anything illegal even though he all but admitted it..otherwise,

 

Roll the clip:

 

Aaron Task talks about it

 

Im not fan of Cramer but at least he didnt run - not sure why this was? To try to save his career? Who knows, I doubt it helped.

[ExpectedValue]

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?

 

Cramer is on CNBC, which is why Jon Stewart's interview is mostly about CNBC.

[EdWatchesBoxing]

Jon Stewart was really well prepared for this interview. He really wasn't being too funny. I think was very serious in his question delivery. At times, he was angry.

 

I really enjoy the daily show. I also recommend the Colbert Report. On March 4, Colbert was talking to some IMF guy, who was comparing America to an emerging market.

 

Here's the link for people in Canada, otherwise you can google it:

 

http://www.ctv.ca/servlet/ArticleNews/show/CTVShows/20061117/ColbertReport-default

 

 

[ALLYCAT]

Just watched to see what the hoopla was about. It was great tv. The only sad part is that it took a comedian  to start taking some of the wall st. boys to task and a lot of Jon's arguments will be ignored  by the mass media outlets.It just goes to show how the people you think  were suppose to be looking out for the interest of the common investor are the wolves in sheeps clothing. Like someone said I don't know what Cramer's agenda was but he  certainly  ended up in flames

[Guest ericopoly]

Just watched to see what the hoopla was about. It was great tv. The only sad part is that it took a comedian  to start taking some of the wall st. boys to task and a lot of Jon's arguments will be ignored  by the mass media outlets.It just goes to show how the people you think  were suppose to be looking out for the interest of the common investor are the wolves in sheeps clothing. Like someone said I don't know what Cramer's agenda was but he  certainly  ended up in flames

 

 

I don't know how you fix mass media without making it pay per view.  I mean, they get revenue based on advertising, so that means they are all about getting as many eyeballs watching the news as possible.  This essentially means that the best business model for the major networks is to turn news into entertainment.