Jon Stewart vs. Jim Cramer and CNBC

reverend C · Mar 15, 2009

where stewart eviscerated kramer was showing the clips where kramer was talking about all the backroom unethical deals made to manipulate the market and that he had participated in them, joking that the SEC was too stupid to catch them so it didn't matter if they were legal or not.
kramer and his lot are the ones that created this mess, and now he's trying to get himself painted as the savior, coming to our rescue. a much bigger issue was revealed in this interview than picking winners and losers. it is the issue of how we are being played and how nobody wants to investigate it. if anyone gives kramer any credibility going forward, shame on them. he's a player, and you are nothing but a gamepiece.

Allahuakbar · Mar 15, 2009

HerbieHeadley said:
Cramer also says, that if anyone in his line of work tells you they are right all the time and don't make bad calls, they are being less than truthful.

Did you watch the interview? Mr. Cramer admitted to much more than that.

rambot · Mar 15, 2009

Who thinks Cramer's show will continue now that the video has been splashed all over the internet and everyone has seen it and Cramer's credibility is all but squelched to anyone but the most resiliently foolish.

I don't know how anyone could watch that interview and come out of it with anything but disdane.

Gawron · Mar 15, 2009

Cramer will lose his show, soon. But not because he made bad predictions on what stocks to buy or sell.

Allahuakbar · Mar 15, 2009

rambot said:
Who thinks Cramer's show will continue now that the video has been splashed all over the internet and everyone has seen it and Cramer's credibility is all but squelched to anyone but the most resiliently foolish.

I don't know how anyone could watch that interview and come out of it with anything but disdane.

I think it was a positive that Mr. Cramer was brutally honest about his mistakes and what he could do better. He seemed genuinely penitent. Perhaps it was a show, but I thought he was really willing to do better.

Gawron said:
Cramer will lose his show, soon. But not because he made bad predictions on what stocks to buy or sell.

You are ignoring all sorts of issues, like contracts. Also you never answered my questions from post 13. I will repost them so you will not claim you missed them.

"Where is your evidence? Was this your original thought to begin with, or were you borrowing from another source, and if so, which source?"

Do you have an answer?

Gawron · Mar 15, 2009

"Do you have an answer?"

Yeah, but the mods would just delete it.

GodGunsAndGlory · Mar 15, 2009

reverend C said:
where stewart eviscerated kramer was showing the clips where kramer was talking about all the backroom unethical deals made to manipulate the market and that he had participated in them, joking that the SEC was too stupid to catch them so it didn't matter if they were legal or not.
kramer and his lot are the ones that created this mess, and now he's trying to get himself painted as the savior, coming to our rescue. a much bigger issue was revealed in this interview than picking winners and losers. it is the issue of how we are being played and how nobody wants to investigate it. if anyone gives kramer any credibility going forward, shame on them. he's a player, and you are nothing but a gamepiece.

This is your world:

People to blame for financial crisis: People that could of done something behind close doors caused it all even though we have no proof.

People not to blame and to vote for: People that all for giving out bad loans and wanted Fannie Me and Freddie Mac to do so and when there was questions arising the size of the state sponsored corporations causing a financial melt down, these people said they were fine and fascism is alright, state sponsored corporations should not be regulated, but private corporations should be regulated.

This hatred for go short against American economy is fascism.

XTE · Mar 15, 2009

GodGunsAndGlory said:
This is your world:

People to blame for financial crisis: People that could of done something behind close doors caused it all even though we have no proof.

People not to blame and to vote for: People that all for giving out bad loans and wanted Fannie Me and Freddie Mac to do so and when there was questions arising the size of the state sponsored corporations causing a financial melt down, these people said they were fine and fascism is alright, state sponsored corporations should not be regulated, but private corporations should be regulated.

This hatred for go short against American economy is fascism.

Wut?

That video is proof, Cramer says it right there and is destroyed by Stewart. He doesn't even have manhood enough to throw a clip of it up on Mad Money the next day. He is now pretending the interview never happened!

Words could easily describe what I think about this post. However, I'm pretty sure it wouldn't last long. How can someone truly be so backwards!

SallyNow · Mar 16, 2009

Anovah said:
The Daily Show does a lot of research I just don't see done elsewhere and he effectively decimated Cramer with footage from his own show.

That it did. The fact that they did it with such humour is the best part.

If the Daily Show just went off telling lies about people (without satire) they would sued left, right, and centre. But they do their research.

Allahuakbar said:
The problem you have here is Mr. Cramer admits he made significant errors. If you watch the interview he admits to his mistakes. You do not need to listen to the media shows. Did you actually see the interview?

Oh, yes, and it was so awkward I had to watch it in little bits. I kind of felt bad for him, being exposed by a research team on a brilliant comedy show, rather than his own research team catching his mistakes before he said them.

I think this shows that people really need to get their news from a variety of sources, not just one and also take the time to read the news, too.

Allahuakbar · Mar 16, 2009

GodGunsAndGlory said:
This is your world:

People to blame for financial crisis: People that could of done something behind close doors caused it all even though we have no proof.

You have been asked once before if you have actually watched the interview in question, and you completely failed to answer.

The only reason I can determine for this, and based on your comments, is that you did not watch it. Your comments betray a significant lack of understanding of the issues, the actual charges Mr. Stewart leveled, the apologies Mr. Cramer offered, and the problems that were brought up during the interview. If you want to comment, you really do have to watch the interview first.

People not to blame and to vote for: People that all for giving out bad loans and wanted Fannie Me and Freddie Mac to do so and when there was questions arising the size of the state sponsored corporations causing a financial melt down, these people said they were fine and fascism is alright, state sponsored corporations should not be regulated, but private corporations should be regulated.

This is completely nonsensical. I honestly do not know what you are referring to.

This hatred for go short against American economy is fascism.

No it is not. Fascism is a distinct philosophy, with a set definition. You cannot simply create an imaginary definition and apply it. This is a textbook case of an appeal to emotion, a logical fallacy used when the argument is so poor only an emotional response, rather than a rational one, is capable of making a point.

Allahuakbar · Mar 16, 2009

Gawron said:
"Do you have an answer?"

Yeah, but the mods would just delete it.

Are you saying that the moderators would delete a thoughtful and intelligent answer? Do you simply not have an answer? Did you originate the argument you offered or did you copy it from somewhere else?

GodGunsAndGlory · Mar 16, 2009

XTE said:
Wut?

That video is proof, Cramer says it right there and is destroyed by Stewart. He doesn't even have manhood enough to throw a clip of it up on Mad Money the next day. He is now pretending the interview never happened!

Words could easily describe what I think about this post. However, I'm pretty sure it wouldn't last long. How can someone truly be so backwards!

The financial crisis would of NEVER happened if Fannie and Freddie weren't so huge. As the Republicans wanted to do was to make them more private and split them up into many different companies, but the fascist democrats didn't like that because it wasn't private corporation like say Standard Oil.

Allahuakbar, fascism is about glorifying the state and the power of the state and hatred of capitalism and the private sector. Democrats had praise for Fannie and Freddie and they wanted no regulation for it, because after all it was helping give out hand outs.

Anyways I don't really feel like it, which is why I was hesitant to even bring this stuff up because I know its going to turn into the typical debate on fascism, I prove that fascism is the same as socialism and the leftists just end up never responding back, but again if it kills this thread go on, say fascism is far right pure capitalism.

Grizzly · Mar 16, 2009

GodGunsAndGlory said:
The financial crisis would of NEVER happened if Fannie and Freddie weren't so huge.

84 percent of the subprime loans were generated by private mortgage companies, not Freddie and Fannie.

http://www.mcclatchydc.com/251/story/53802.html

Please feel free to educate yourself on the current financial crisis. I urge everyone to do so.

kermit · Mar 16, 2009

Grizzly said:
84 percent of the subprime loans were generated by private mortgage companies, not Freddie and Fannie.

http://www.mcclatchydc.com/251/story/53802.html

Please feel free to educate yourself on the current financial crisis. I urge everyone to do so.

Assigning blame is easier than finding causes.

Grizzly · Mar 16, 2009

kermit said:
Assigning blame is easier than finding causes.

Sad but true. I've been reading alot about the financial crisis and so far it's been quite an education on how markets work.

kermit · Mar 16, 2009

Grizzly said:
Sad but true. I've been reading alot about the financial crisis and so far it's been quite an education on how markets work.

Don't get me wrong, I will assign blame when and where it is due. But first I like to determine causes.

A leads to B and person X is responsible for A and therefore to blame for B.

Most right-wing analysis I've seen is A happened therefore X is to blame for B without ever tying A to B. This is how Frank and Dodd got blamed by the right-wing spin machine. They tied those two to Fanny and Freddy without ever linking Fanny and Freddy to the crisis.

Matthew_18:14 · Mar 16, 2009

Has anyone on here ever read any of Cramer's books or watched his show. To be honest, I've only seen his show a couple of times, but the one book of his that I have read told you plain and simple how to invest your money.

1.) Make sure your insured before you invest any money (i.e. health insurance, life insurance, home owners insurance).
2.) Make sure you have a rainy day fund.
3.) If you have money in a 401k, pick one, or two funds at the most and pick the fund with the widest range of stocks (i.e. S&P 500, Russell 2000 Index). Also, if you access to a fund that has a low management fee you should probably pick that fund.
4.) Invest aggressively after you have made sure that the three things above have been met. Any money that you invest aggressively should be money that you can stand to lose.

He also recommends spending a minimum of an hour a week researching any stocks that you own. You also shouldn't own any more than five stocks if you are not an investment professional. This is largely because most wouldn't have the time to devote to researching more than five stocks. One other thing, the older you get, the less you should have invested in stocks. If I remember right, he recommends having a percentage in bonds that is equal to your age.

So now everyone jumps on Cramer because he recommends stocks that have lost money. Not only does he not support investing aggressively with your retirement account, but he also recommends that you keep a certain percentage invested in bonds based on how old your are. This would have gone a long way to protect the retirement accounts of those getting ready to retire, but now Cramer's the bad guy because he made some stock recommendations. This always goes back to people wanting someone to blame when they do something wrong. If you are going to invest money and not do any research on your own, then you've got nobody to blame but yourself. After all, he is giving free advice and I'm sure that people that were paying someone also lost money.

Matthew_18:14 · Mar 16, 2009

Grizzly said:
84 percent of the subprime loans were generated by private mortgage companies, not Freddie and Fannie.

http://www.mcclatchydc.com/251/story/53802.html

Please feel free to educate yourself on the current financial crisis. I urge everyone to do so.

Yes, but Fannie and Freddie bought them and then balled them up into some nice investment vehicles for everyone to purchase. Blame falls all around on this one. It falls on the greedy people that wrote the loans, the greedy people at Fannie and Freddie that bought and packaged them, and our government that made sure that the freight train kept rolling along until it had so much speed that a sudden stop would cause it to derail.

Gawron · Mar 16, 2009

Posted by Matthew 18:14:

"So now everyone jumps on Cramer because he recommends stocks that have lost money."

No, everyone is "jumping" on Cramer because he dared to criticize Obama. The fact that he was wrong concerning some stock choices is being used as an excuse.

kermit · Mar 16, 2009

Matthew_18:14 said:
Has anyone on here ever read any of Cramer's books or watched his show. To be honest, I've only seen his show a couple of times, but the one book of his that I have read told you plain and simple how to invest your money.

1.) Make sure your insured before you invest any money (i.e. health insurance, life insurance, home owners insurance).
2.) Make sure you have a rainy day fund.
3.) If you have money in a 401k, pick one, or two funds at the most and pick the fund with the widest range of stocks (i.e. S&P 500, Russell 2000 Index). Also, if you access to a fund that has a low management fee you should probably pick that fund.
4.) Invest aggressively after you have made sure that the three things above have been met. Any money that you invest aggressively should be money that you can stand to lose.

He also recommends spending a minimum of an hour a week researching any stocks that you own. You also shouldn't own any more than five stocks if you are not an investment professional. This is largely because most wouldn't have the time to devote to researching more than five stocks. One other thing, the older you get, the less you should have invested in stocks. If I remember right, he recommends having a percentage in bonds that is equal to your age.

So now everyone jumps on Cramer because he recommends stocks that have lost money. Not only does he not support investing aggressively with your retirement account, but he also recommends that you keep a certain percentage invested in bonds based on how old your are. This would have gone a long way to protect the retirement accounts of those getting ready to retire, but now Cramer's the bad guy because he made some stock recommendations. This always goes back to people wanting someone to blame when they do something wrong. If you are going to invest money and not do any research on your own, then you've got nobody to blame but yourself. After all, he is giving free advice and I'm sure that people that were paying someone also lost money.

I've watched his show a number of times. He's a smart guy who made a lot of money, but when it comes to doing real research he's second rate.

One of the best pieces of advice I've heard from him is to pick a price at which to sell. When it gets there sell enough to get back your original investment and then "play with the house's money" and just let it ride.

Jon Stewart vs. Jim Cramer and CNBC

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