Oh my goodness is this painful to watch. This past week Jon Stewart from the Daily Show and Jim Cramer the loud idiot from CNBC's Mad Money have been yelling back and forth at each other. Cramer's an idiot to go toe to toe with Stewart. Watch here as Cramer comes on the show and is completely roasted. Uncomfortable. Other sources: PBS, CNN.
Jon shows clips from some sort of training film as Cramer basically is telling some trader how to game the system. How to spread rumors that are false so that the stock goes the direction that you want it. Jon's basic point is that CNBC isn't reporting as much as it is colluding with the idiots on Wall Street. Anyone who thinks that most of their reporting operates within the boundaries of proper journalism needs to wake up.
JON STEWART: When you talk about the regulators, why not the financial news network? That's the whole point of this. CNBC could be an incredibly powerful tool of illumination. It feels like we are capitalizing your adventure by our pension and our hard-earned -- and that it is a game that you know, that you know is going on, but that you go on television as a financial network and pretend isn't happening.