I’ve been watching these videos for the past hour or so. They’re very interesting, particularly given the current financial climate. There’s been a feud brewing between Jim Cramer, the host of CNBC’s “Mad Money” and Jon Stewart, host of the Daily Show.
I’ve actually got one of Jon Stewart’s books on my shelf (its brilliant!). FYI – Jon Stewart is a comedian. These two networks are supposedly sister networks as well. Watch these unedited & uncensored videos, they are very insightful – I was addicted! (note: the daily show posting these vids on their website)
Based on what I have seen, Jim Cramer was pummeled by Jon Stewart. It was a three round knockout, that destroyed Cramer’s credibility. However, Cramer accepted too much blame. Could ANYONE have predicted some of these crisises and collapses?? If you put yourself out there and tell investors to buy Bear Stearns and then it crumbles, should you accept some of the blame?
It reminds me of 5 – 7 years ago when people were recommending Enron, Worldcom, etc… and then they collapsed. I don’t think the CNBC network and Jim Cramer should be solely to blame, even though they made those recommendations. Yes, they could have done more due diligence, but it is a crazy stock market out there. Cramer should have stood up for himself more. Jon Stewart didn’t even give him much of a chance to respond either. He just kept knocking him down blow after blow.
The impact is once in a life time, however similar “shocks” have happened before. See Enron bust, Dot.com bust, Asian Crisis, and Black Monday 1987.
I’ve never doubted that there is manipulation in the stock market, some legal, and some illegal.
Here’s the original video Jim Cramer did a few years ago, discussing how hedge funds manipulate the stock market:
I’m out like Jim Cramer’s career,