Jim Cramer vs The "Daily Show" and Jon Stewart
In case you didn't know already, Jon Stewart is the host of the uber-popular "Daily Show", while Jim Cramer is the host of "Mad Money with Jim Cramer" on CNBC. Cramer is also a frequent contributor on Thestreet.com, amongst other sites.
In 2008, the Fox Business Network targeted Cramer and CNBC. FBN took out ad space in both the New York Times and the Wall Street Journal, pointing out Cramer's recent comments about Bear Stearns, and inviting viewers to watch their "credible network".
Almost a year to the day of Cramer uttering these now-famous words about Bear Stearns, Jim now finds himself as the focus of multiple attacks from the "Daily Show".
In order to understand just what is going on, you need to first view this clip of Jim Cramer speaking about Bear Stearns from March of 2008. Much of the criticism of Jim Cramer stems from these comments:
Last week, Rick Santelli (of CNBC) was apparently supposed to appear on the "Daily Show", but ended up canceling. This drew the ire of Jon Stewart, who launched an attack on some prominent market commentators (including Jim Cramer), and some of their famously bad calls.
Cramer took offense to this clip, penning an article on Mainstreet.com titled "Cramer Takes on the White House, Frank Rich and Jon Stewart". He argued that his quote about Bear Stearns was taken out of context, and that the idea that he recommended Bear Stearns a week before it collapsed is an "urban legend". You can read his comments here.
Jon Stewart, in a new segment on March 9th, pointed out that Jim Cramer very clearly told his followers to buy Bear Stearns earlier in the year:
Cramer then appeared on the Today Show earlier today (March 10th), and was forced to watch the Daily show segment:
What's your take? Does Cramer deserve this treatment, or is the "Daily Show" being overly harsh?
Edit: Cramer is reportedly scheduled to appear on the Daily Show on Thursday night.
Filed under: General Knowledge