Saturday, March 14, 2009
Cramer vs. Stewart
Anyone watch the interview?
I watched it twice. Jon Stewart ripped him a new one. He pointed out that CNBC keeps putting CEOs that lie their asses off about the condition of company, and this is an outrageous conflict of interest. Instead of being journalists they are allow CEOs to come on and act like cheerleaders for ships that are sinking like the Titanic.
I probably felt like everyone else who watched the interview, which is, I will probably never spend another minute watching CNBC. Like some, I was kind of sitting on the fence in my opinions about CNBC, but now, the scale has been tipped to where it's more than obvious there isn't a soul at that network that isn't 100% on the side of Wall Street.
Moreover, I think Stewart's arguments were that good. Cramer knew better, and a simple apology does not suffice when he advised people to invest in companies that were a house of cards.
This was the interview where Cramer lost what little credibility he had left.