Tuesday, March 17, 2009

Jim Cramer on John Stewart

For those of you who missed this:

http://www.huffingtonpost.com/2009/03/13/jim-cramer-on-daily-show_n_174558.html

7 comments:

Adam said...

Not sayin' whose side I'm taking, but people should read this too:

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602319.html

Anonymous said...

Edit: should be:

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602319.html

Adam said...

Goddammit! It's html, although your website only shows htm

Barga said...

This?

Barga said...

it requires proper coding is why

Ander said...

From the washington post article.

"They didn't cover up the story of financial shenanigans. They didn't even know it existed. "

Watch the video, Cramer admits to partaking in the financial shenanigans at his hedge fund and even goes as far as to explain how he did it.

"Or take Richard Fuld. He is the former chairman of Lehman Brothers, which, as we all know, is no more. He lost about $1 billion.

Or take Citigroup's former chairman, Sanford Weill. He lost about $500 million.

Or take all the good people at Bear Stearns, the company Cramer adored almost to the bitter end. They went down with their stock."

hahahaha those numbers are beans compared to what they are getting in bailout money. Those companies are arguing they get to pay out bonus' because of the terms of the bonus contracts.

"It does not take cable TV to make a bubble. CNBC played no role in the Tulip Bubble that peaked, as I recall, in 1637, or in the Great Depression of 1929-41. It is the zeitgeist that does this -- the psychological version of inertia: the belief that what's happening will continue to happen. "

The question Stewart was asking was what role does cable TV play?

Are they supposed to inform or create excitement to drive stock prices one way or another? What the author of that article fails to mention (wow details left out in one of these newspapers, Never!)
that in all the above mentioned bubbles, that it was investors and speculators that did it. people looking to make something from nothing. they have names, faces, and addresses. They also happen to own the majority of information sources for the general population. So no it wasn't cable TV for the great depression. It was the newspapers.

That article is so full of dead end stupid talk and mixed mashed words and ideas it's insane.

Ander said...

haha I didn't even finish the article.

"Stewart plays a valuable role. He mocks authority, which is good, and he mocks those, such as the media, who take the word of authority as if, well, it's authoritative."

Admits blind submission to authority! haha Wait, I thought it was his job to question authorities of all kinds and report facts?

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