Apr 3, 2009

Jon Stewart Smashes Jim Cramer and Exposes Stock Market Shenanigans

Prelude to the battle:

Jon Stewart Gets Ready To Fight

Stephen Colbert tries to bribe Jon Stewart and fails.

Pre interview(battle) preparation and jokes (excellent stuff and very funny)

My opinion: This interview is brilliant and Jon Stewart’s analysis of CNBC and financial economics is excellent.

Part 1 Of Unedited Interview

Part 2 Of Unedited Interview

Part 3 of Unedited Interview


CNBC has not done the job it is supposed to do, i.e. financial reporting.

Video 2- Jim Cramer talks about fooling the stock exchange and how to start a rumor for profit

Video 3- Jim Cramer and the entire network knew what the banks were doing and said nothing. This is ‘disingenous at best and criminal at worst’…he keeps saying the CEO’s lied to him. But that’s what his job his…i.e. financial reporting.

The 'big money' people play the market (even start rumors!) for quick profit to the loss of others!

People in the stock market are doing this for short term profit (i.e. manipulating the exchange and playing with other peoples money….and they call the people with bad mortgages losers….what hypocrisy!)

Jon: "These companies were financed by our 401k’s and all the incentives of their companies were for short term profit and they burnt the f***** house down with our money and walked away rich as hell and you guys knew that that was going on."

Jim Cramer caved...his voice squeeks…and he is begging to be let go(!)....he is on the verge of tears...he has been caught lying! He is defending himself when ‘this song isn’t about him’....Now will he fight for truth to save his reputation? Time will tell.

Jon says, "I am under the assumption that you don’t just take their word at face value, you go around and try and figure it out." (read the definition of Journalism)

IN the end Jon says we need a news organization to keep companies in check , implying the CNBC failed in it’s stated job.

My Opinion- How about we change our labels? The Daily News Show with Jon Stewart is the real news show (and he uses humor to keep us thinking clearly) and the other news networks are the ‘fake news shows’ and they scare their viewers making their thinking one of fear (thus leading to bad decisions) all for ratings? :-)

A video worth watching:

Stephen Colbert interviews Simon Johnson on how the wealthy individuals in companies can destroy economies for profit - i.e. its in their financial interest to destroy the company/economy (another way of making money!)

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