Friday, March 13, 2009

Daily Show: Jim Cramer Interview

Watch this.

No kidding.

It isn't just that Jon Stewart is brilliant and hands Cramer (host of CNBC's Mad Money) his ass. That's nice, but really, who cares... (Warning: NSFW Language throughout interview.)

Watch this because by the end you'll grasp at a deep level how the financial media has not just

  • failed to report on the problems in the markets,
  • failed to do any investigative reporting, but also
  • failed to call "fire" when an inferno was ablaze.
As Jon makes clear and Jim Cramer eventually cops to, CNBC and the rest of the financial "media" helped set the financial markets on fire through their selective, biased, and non-journalistic "reporting" whose primary purpose was to entertain, get ratings, and promote the market (which they themselves and their bosses and organizations were invested in.) Their shows were ENTERTAINMENT, not journalism, having little to (yes, I'll go there) nothing to do with reporting of actual financial news or markets in any journalistic sense.

These so-called financial media were and are part of the fraud which caused the bubble leading to the collapse.

Jon calls them/him out, and Cramer admits it.

An absolute must watch all the way through.

Jim Cramer Interview, CNBC: Part 1

Jim Cramer Interview, CNBC: Part 2

Jim Cramer Interview, CNBC: Part 3