Friday, March 13, 2009



UPDATE: That clip is dead. You should click HERE to watch the interiew via Hulu.


From the New York Times today:

“Listen, you knew what the banks were doing, yet were touting it for months and months, the entire network was,” the Democratic Senator from Comedy Central said. “For now to pretend that this was some sort of crazy, once-in-a-lifetime tsunami that nobody could have seen coming is disingenuous at best and criminal at worst.”

Mr. Stewart made his feelings clear. “I understand you want to make finance entertaining,” he told Mr. Cramer. “But it’s not a game,” he said, using an additional adjective that was bleeped out. “When I watch that I can’t tell you how angry that makes me.”

31 comments:

Sara said...

This is the first thing my husband showed me this morning when I woke up. It's so fucked! What is one supposed to do with their money - where do you put it if you don't want to be part of the game? I'm with Jon Stewart - it just makes me so angry to see the video.

Decorina said...

Jon was wonderful in that piece. Cramer is a liar just like the rest of them. Happy that someone finally called them on it.

Anonymous said...

The interview was painful to watch. PAINful.

Anonymous said...

This is what journalists should be doing EVERY DAY!!

Kristen B. said...

It's sad that it takes a fake journalist to do what all the REAL journalists should have been doing during these crazy times. Call people out on their shit!

JJ said...

Did Jon Stewart become a senator while I was asleep?

Anonymous said...

Damn!
It's gone.......

mlessirard said...

Thank you Jon Stewart. One more thing I want Ruth Madoff in jailed and her assets frozen. I want them all indicted and held accountable.

Anonymous said...

We worship at the alters of Jon Stewart and Stephen Colbert in this house. The interview with Cramer was conducted with intelligence and the conviction this issue deserves. I think the attack on the almost complete lack of journalistic integrity in the financial media is long overdue. Thank you, Jon. We love you.

Anonymous said...

Oops, I meant altars not alters. I should read before I hit publish.

Emily said...

I'm with Jon Stewart. I'm a chem teacher, for heaven's sake, not an economist and even I knew that selling $500,000 houses to people who didn't have a down payment was probably not the best of ideas. The truth is that a lot of people made a ton of money during the housing boom and they didn't care what would happen when the boom ended.

mrsblondeblogger said...

Kudos to John for the way he handled this interview and didn't back down to Jim one bit. It was akward to watch though...

Anonymous said...

You can still watch last night's episode (which this video was part of), and the Daily Show every day at hulu.com -- so awesome how under the guise of comedy entertainment Jon Stewart can actually share more facts than real news programs.

Loved Jon's comments at the end suggesting that Cramer go back to being the guy with the show about serious money facts and he'll go back to taking care of the fart jokes (not exactly his words, but something along those lines...) -- ironic indeed that the roles have to be reversed in order for the truth to be told - evidence of the power of humor!

Alison said...

Now now, before you all go apeshit over the fact that Mrs. Madoff admits to having (uh, I'll repeat...admits to having) $69 million in liquid assets....I would like to point out that those funds are all completely legit. She said so herself. She said her resources have nothing to do with her husband's income. Clearly, this $69 mil that she admits to having are tips from waiting tables, shrewdly invested childhood-paper-route money and proceeds from her dog-walking gig. Shut up haters!!

Iheartfashion said...

I get more real news from Jon Stewart than from any of the news networks. Cramer didn't stand a chance and didn't even try to defend himself.

red.door.read said...

cheers to jon stewart.

it makes me angry that the US's laissez faire attitude towards prudential regulation has done a big crap all over the rest of the planet.

big boy said...

Raped in prison.

s. said...

Yeah, this was awesome. I stumbled across it by chance on TV this afternoon and thought, wow - this is interesting stuff.

Cramer is a good example of what happens when the people reporting the stories are too personally buddy-buddy with the subjects of the stories.

China Grrl said...

the entire interview is available at thedailyshow.com. it's in 3 parts and is way more interesting than the clips aired on the show. much more detailed and peaceful. it's a little long and in 3 parts but is worth it!

Anonymous said...

I am not defending Cramer but I find it interesting that Jon Stewart's brother, Larry Lebowitz, is the COO of the NYSE and was the COO of UBS Investment Bank, which lost about $40b last year. I also think it's weird when people drop their last names for showbiz. I wonder if he hates his brother?

Anonymous said...

When is Jon going to grill Barney Frank?

Anonymous said...

Since when are our life-savings suitable fodder for "entertainment?"

Anonymous said...

Surreal that a comedian is more on the ball and more of a journalist than any of the so-called journalists!

I appreciate that Jon calls it like it is.

Anonymous said...

Disturbingly clear throughout the interview that Cramer just wasn't getting it about Wall Street.

Amazing! Even now Cramer doesn't get it.

Anonymous said...

Good one, Allison!

hello said...

Here's what I know: I called this. Two summers ago.

Ask my husband.

And I called it a Depression then.

WSJ - suck it.

Anonymous said...

Yes, Jon Stewart did a really good job at pointing out the truth to Cramer who seems to have his head in the sand. He only came on the show because he had to. I saw his face on the Today show.
There was a scam brewing, first they persuade everyone and his brother to put their savings in the stock market, then they persuade the powers that be that they need no regulation, then they persuade everyone and his brother to buy houses, and borrow against their equity, then they sell these mortgages to people who did not write the loans, and then they feign surprise when the real estate market ran out of buyers and the bubble burst. Now they feign surprise when we figure it out. As soon as the problems die down they will do the same thing all over again if we let them.

Anonymous said...

Anon 11:29, I agree.

There is need for much, much reform.

Remember, when we were taught in 6th grade that the Great Depression could never happen again, because the SEC was a watchdog, regulations were established, etc.

I feel cheated. I think we all do.

And when working hard, and playing by the rules don't work in a so-called "civil society"--well, that's when you do get anarchy and blood in the streets.

God help us.

Just when I was hoping things were starting to look up.

Anonymous said...

I think Jon Stewart is fucking brilliant. Cheers.

kalliope said...

Seriously, did anyone ever listen to this Cramer dude and think he knew what he was talking about. I'm with Stewart, and happy he was able to expose the charade... and shame on CNBC most of all right?

Anonymous said...

I have to admit, the past few weeks, I've been a little miffed that he let Sandra Day O'Connor off without a drumming. Barely mentioned Bush v. Gore. But this is helping to restore him to his usual place in my heart.