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After a long week of feuding in the media (even bringing Martha Stewart into it), Jim Cramer visited The Daily Show last night for a 12-minute ratings-boosting spectacular. Jon put on his serious disappointed-dad tough love mask, and stridently (maybe too stridently) took Cramer to task for elitism, hypocrisy, outright lying, and, especially, talking about doing illegal things in old grainy cellphone-shot clips from a 2006 live interview. Cramer must not have a leg to stand on, because he basically sat there and took the punishment and promised to do better. As with all of Jon Stewart’s “serious” interviews where he gets all righteous and riled up, it was very uncomfortable to watch (has Jon seen Frost/Nixon recently or something?) Hopefully now that this is over we can go back to the Jon who makes us laugh with his funny faces. Here’s the full, uncensored interview in three parts:
The very self-aware, conflict-minimizing intro:
Part One: How this got started (these are mistakenly labeled “outtakes,” but they’re the full interviews, uncensored):
Part 2:
Part 3:
Cool. Now can Oprah please do that exact same thing to Chris Brown?
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i can’t imagine why you’d subject yourself to this. its like all of those upstart liberal journalists who go on O’Reilly’s show to prove themselves but end up being barraged by questions they’re not prepared for and a handful of “shut ups.”
i love jon stewart, and have been a big fan of the daily show for years, but going on his show does not provide any sort of an equal playing ground. at least with the tucker carlson thing it was on “crossfire.”
bearface: that’s true, but he had to have known that these questions were going to come up, I don’t pity him at all. And even he said that’s it fair, it’s Jon’s house.
Jon should have ended the segment by quoting Weezy, the one time he should be quoted.
“Mothafucka I’m I’ll!”
Oh Jim Cramer, you are going the way of the dodo, sir.
I think even Jon would say that it’s a shame that Jon has to be the one to do this. But nobody else has taken on the financial networks in this kind of way, and maybe now that he’s done it, somebody else will.
By the way, Jim Cramer is still a pendejo. Just sayin’.
Yeah it definitely could have been worse, still quite a hammering from Stewart.
I like Jon Stewart, but he’s kinda wrong/simpleminded about a lot of this. Cramer, to his credit, was actually the guy who went on TV and told everyone to sell out of the market just before it tanked. He’s taken a ton of criticism for that — being a guy who yelled “fire” in a crowded theater, though of course in his case there was a fire, and most of the people angry with him were/are financial insiders who were mad at his honesty. He’s certainly no saint, but I don’t think he’s even close to the best target for Jon Stewart’s anger.
Yes, on Oct. 6, 2008, Cramer told investors to take their money out of the market. What he never mentions is that, on Oct. 10, 2008, he told them to put half the money they’d taken out of the market back in, suggesting that one good place to put the money was Kellogg, a stock that has since fallen further than the general market. Seriously — go to just before the 4-minute mark in this video:
http://www.cnbc.com/id/15840232?video=885391077&play=1
And that was just one of (literally) thousands of “buy” recommendations he’s made after the “sell” recommendation he brags about. So, yes: The guy made a good call. Unfortunately, it’s awash in a sea of bad calls.
Did you even watch the videos??? Jon said numerous times that it was not directed specifically at Cramer but at CNBC and news media in general. People want these “feuds” to be so mano-a-mano. It was a much broader point Stewart was making and Cramer was the one to take offense so he became the other mano.
I thought Stewart did a great job in this interview. And in reality everyone agrees with what he is saying (re: 2 markets and media looking the other way) but someone who is taken more seriously needs to make these points. Like maybe someone from CNBC. (which was basically the point Stewart was making in the first place)
Cramer’s just a pundit, an entertainer with a financial background. The man’s not a journalist. He does wacky shit to liven up his otherwise-boring opinions. Living and dying by Cramer’s version of the market would be akin to living and dying by Stewart’s version of the news. The people who watch Mad Money are not under the impression that Cramer can see the future (and if they are, well, fools & their money & whatnot.)
And calling out a guy who throws pies & bites the heads off of stuffed bulls for not being tougher on the CEOs he interviews is a bit like chastising Stuart for not grilling the politicians he has on TDS.
Actually, people do live and die by Cramer’s investment advice — and they’re the ones who can least afford to do so. Watch his show, and you’ll see the “Lightning Round”, where he takes calls from average investors in the middle of the country, who ask him whether they should buy or sell a given stock. He gives them authoritative-sounding reasons why a given stock is a “buy” or a “sell”, and they gratefully take his advice. Of course, when Barron’s assessed his stock-picking advice two years ago (and found that all his picks underperform the market) he told them not to count the advice he give in the “Lightning Round”, because those picks aren’t researched at all — in other words, he himself admits that he doesn’t really know what he’s talking about when he tells those callers what to do with their money. He projects authority in telling people what to do with their money, then shrugs off any responsibility. And yeah, “a fool and their money”, etc. etc. But that doesn’t mean I have to like the guy who preys on them.
Cramer’s just a pundit, an entertainer with a financial background. The man’s not a journalist. He does wacky shit to liven up his otherwise-boring opinions. Living and dying by Cramer’s version of the market would be akin to living and dying by Stewart’s version of the news. The people who watch Mad Money are not under the impression that Cramer can see the future (and if they are, well, fools & their money & whatnot.)
And calling out a guy who throws pies & bites the heads off of stuffed bulls for not being tougher on the CEOs he interviews is a bit like chastising Stewart for not grilling the politicians he has on TDS.
comeon, this all goes back to the snake oil salesman metaphor. Stuart blatantly states repeatedly, that he is nothing but a clown in a suit. But he also states he actually points out this exact fact.
msnbc more so than cramer, are putting that man on a pedestal that he really shouldn’t be on. yes, he is an entertainer, but he is made out to be so much more. which is wrong.
I’m a Stewart apologist as much as anyone else here, but you have to admit that he kind of hides behind the I’M A CLOWN excuse a bit too much for someone who takes ousting an entire network so seriously. He wants us to laugh at all his jokes as well as nod in agreement to his incredibly self-serious indictments, but when someone accuses him of having a significant ability to influence people’s opinion he dismisses it by saying everyone knows he’s just a jokester. I am thankful for the work he and his writers have put into schooling CNBC, but I also wish Stewart would own up to the actual impact HE has.
I thought this was less uncomfortable than when conservatives go on Colbert Report and don’t realize it’s satire until halfway through the interview. At least Cramer knew what he was getting into.
Thank goodness that we have a Jon Stewart in this world to take on corruption in the media. Now if we could finally get some hard core consumer advocates, maybe we can bring some kind of fairness back into the American Economy. Not socialism. Fairness.
I wonder what that asshole Joe Scarborough thinks of this finale? I thought the whole thing was well done from both Jim and Jon. Jon truly needs to take the argument up with the executives at CNBC however and not Jim Cramer. They created the culture that allows Jim and Rick Santelli to do what they do.
This would’ve been better if it was an actual interview, i.e. a space in which one person asks questions and then allows the other person to answer them. I like Stewart, but save the rants for when there isn’t another person sitting next to you. I would’ve liked to hear how, or if, Cramer defended himself, but JS kept cutting him off to yell at him some more.
Cramer’s not alone — far from it — in making bad stock picks. Here’s a challenge: find any “expert” whose picks over the last year have been right more than 50% of the time.
I wonder if Jim Cramer’s objection to that CNBC scolding on Monday wasn’t entirely manufactured by the network execs. It seems like they chose Cramer to go up against Jon since he was a “comedian”, too. He even did a NBC Universal press tour. Smells funny. Am I imagining things?
Jim Cramer : Financial News :: Jon Stewart : Political New
Out economy is fucked. Exhibit A.) the guy on comedy central is more level headed than the “financial expert.”
I think alot of you are kinda missing the point. This whole thing was an indictment of the cozy, incestous realtionship journalist have had with the people they are supposed to be covering. CNBC is to Wall Street what Judith Miller et al was to the Bush admin. Journalist are supposed to be advocates for the people, not lazy cheerleaders for their subjects. That is what make this so sad, is that while the media will come out in full force today praising Stewart he has basically torn down their whole medium on a fucking comedy show. I weep for the 4th estate. So yeah Stewart was dink of a dick, if the real journolist did their fucking jobs he wouldn’t have to be, more dick jokes!
I was waiting for Cramer to break into frustrated tears. His voice was cracking the whole time. Yikes.
He’s reputation (and maybe his career) has been destroyed by the “I’m just a comedian” Jon Stewart; that’s why, and it is normal. Even if Stewart is probably right, I can’t help feeling sorry for Cramer, who at least had the nuts to confront the TV darling at his own show.
Shenanigans!