Jon Stewart is being widely celebrated today and Jim Cramer/CNBC widely mocked -- both rightfully so -- for Stewart's devastatingly adversarial interview of Cramer (who, just by the way, is a Marty Peretz creation). If you haven't yet seen the interview, you can and should watch it here; if you watch only one segment, watch the middle one and the beginning of the third.
Stewart focuses on the role Cramer and CNBC played in mindlessly disseminating and uncritically amplifying the false claims from the CEOs and banks which spawned the financial crisis with their blatantly untoward and often illegal practices.But at least Cramer wants to appear to be contrite for the complicit role he played in disseminating incredibly destructive and false claims from the politically powerful. That stands in stark contrast to David Gregory, Charlie Gibson, Brian Williams, David Ignatius and most of their friends, who continue to be defiantly and pompously proud of the exact same role they play.
Saturday, March 14, 2009
Glenn Greenwald: "There's nothing unique about Jim Cramer"