According to CNN, many declared Jon Stewart the victor in the words of ‘discussion’ with with Jim Cramer on “The Daily Show.” There were many of us, even the biggest of Stewart fans, who felt that comedian-turned-media-critic Jon Stewart was a bit hard on the CNBC “Mad Money” host Jim Cramer.
To some of us, the feud has been good for laughs, ratings and traffic (thanks). To others, there are some serious question of whether the experts on cable tv should have e seen the meltdown coming and done their ‘intended job’ by warning their viewers.
John Stewart’s point is not something personal against Cramer specifically. Stewart’s point is that people at CNBC knew what was going on behind the scenes on Wall Street but didn’t tell the public. He has accused CNBC anchors and pundits of abandoning their journalistic duties and acting like cheerleaders for the market.
“In a tremendous boom period, they covered the boom and people wanted to believe in the boom,” said Andrew Leckey, a former CNBC anchor and now president of the Donald W. Reynolds National Center for Business Journalism at Arizona State University. “They didn’t uncover the lies that were told to them. Nobody did. But they should be held to a higher responsibility.”
Cramer has acknowledged that he made mistakes but said that he and CNBC weren’t alone.
So, FOX, CNN and everybody else were in on it too? hmmm
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