The Daily Show 3/12/09

I have no faith in any of these so called experts. They all failed us and now they want us to continue to listen to their advice.

I am starting to believe that people like Cramer are part of the problem and not part of any solution.

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well, Cramer did acknowledge an important point...his show is an entertainment show about money. it isn't a news show.

He IS part of the problem, because even though he says that it's just entertainment he damn well knows people are taking his show seriously.

Wow. Stewart was loaded for anything! Excellent!

Some people really do take it serious. Thanks for sharing.

Just a guess, but I'd say Cramer knows a little more about stocks etc than everyone here combined... You don't have to like him, but to say he doesn't know anything is absurd. Stewart is a comedian by trade, and his job is to entertain us... that he did, he's awesome.

It was great! Stewart had me laughing!

Cramer SHOULD know stocks, however when he was on The Daily Show he claims he's just an entertainer. He can't have it both ways.

I've been converted to a Jon Stewart fan-he was spot-on with Cramer. He "made Cramer look like the ass" because he is one, literally!

"Just a guess, but I'd say Cramer knows a little more about stocks etc than everyone here combined... You don't have to like him, but to say he doesn't know anything is absurd. Stewart is a comedian by trade, and his job is to entertain us... that he did, he's awesome. "

Speak for yourself, Levin. The entire point was to show that although Cramer excuses himself as being 'entertainment', he markets himself as a knowledgable source of investment info. And, yes, he obviously DOES know a lot about the market. It was obvious from the clips and what he was on tape saying that he knows exactly how to manipulate the market.

Jon Stewart could not have said it better, IMO. He hit all the points concerning the sleeze balls in the industry that make all us ethical people in the investment industry look bad. I loved when he referenced friends of his who work on Wall St. but do NOT participate in that kind of crap, yet their reps and their clients suffer from it. Shortselling should be closely regulated and watched. Futures trading should be closely regulated and watched. These guys know exactly what they are doing when they dump large sums on the market in a particular stock or sector. They are playing a game and Stewart was right in saying that its the small investors in their retirement accounts that end up paying for these slimy games.

And he was right on the money when it came to the sub-prime issue. It's not the individual who was sold these mortgages that brought the global economy down. It was the greedy thieves on Wall St. in the large investment banks that demanded more and more of these so they could slice and dice them into investment instruments and sell them all over the world - and into your pension and 401k plans. That's what is making it so hard to fix - people could refinance, if they could only locate their mortgage and determine its value. Since these geniuses manipulated and sold and re-sold them, it is virtually impossible to do. AND these guys made billions doing it - which they still have.

I think they should all be indicted, made to give back every penny that they essentially stole with their criminal scheme, and put in jail for life.

If you want the REAL story about the downfall of the economy, just read this:

http://nymag.com/news/business/51402/

The irony is that these guys are now working for the government, trying to sort out the mess they created. But, they still own their private jets. Don't worry.

Jon Stewart made his bones when he took down the well established CROSSFIRE program with one confrontation when he told them they were HURTING his country!
Anyone happen to notice that big mouthed Joe Scar had NOTHING, nada, zip to say on the subject this morning even tho Stewart specifically called him out last night by referring to him as Douche- borough. Last thing Scar wants is Stewart being pushed to bringing up the curious (and hushed up) story of the dead pregnant secretary in Joe's Florida Congressional office.

Jon Stewart is an insightful comedian, but a comedian, no less.
People like this Cramer are 'spoilers'. They know they can fool some of the people some of the time and they run with it!

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Every solution is a new problem

As Stewart said, they're both snake oil salesman, but Stewart calls it snakeoil, and Cramer calls it gold. (Or somthing like that)

Considering the amount of trash talk involved beforehand, it was an... interesting performance, to say the least. It was like the verbal equivalent of watching a professional wrestler on television smashing things while making veiled threats towards a stage performer, and then having the performer beat the wrestler up in fifteen minutes of relentless street fighting, load them into a shopping cart, and send them rolling down the street into traffic. It was a very solid performance, well-planned and coordinated -- not Stewart's usual playful fencing, but an outright righteous-fury moment of you-have-screwed-people's-lives-and-I-want-you-to-know-it.

Part of what I do on Gather is Money Correspondent work - trying to make whatever financial commentary I have seem interesting, despite the fact that money isn't nearly as entertaining when you don't have it. If Gather were to depict me as a financial messiah for any reason, I would have to make a point not to believe my own hype, because that sort of hubris can create big problems - and if people actually believe you are a qualified expert and you prove to be horribly, horribly wrong, it can become a disaster.

That's a good analogy with the wrestlers, Austin. I think Stewart was PISSED. He was pissed for his mother, he was pissed for his kids, and he was pissed for us. He made no bones about the fact that he believe that Cramer screwed people's lives over.
Personally, if it weren't for The Daily Show, I wouldn't know who Cramer was, because I don't follow the "market".
If I did, I'd become depressed and never leave my house. It's the same reason I don't watch the news. If I do I make my hubbby check the smoke and carbon dioxide detectors 3 or 4 times a day.

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