Jon Stewart vs. Jim Cramer

[bdeg]

Originally Posted by Third Eye

No, I don't think we should do away with all shows of that nature by any means and I'm not sure how you could have inferred that. BUT, as was so eloquently pointed out by Stewart, it's not a ****ing game. We don't need the bells and whistles and pretty shiny objects that amuse the masses.

Do I think Cramer knowingly gave false information or lied about his opinions? That is kind of a tough one to call. Do I think a hedge fund manager knew EXACTLY how entangled the situation had become due to practices like credit default swapping? Hell yes. Do I think that anyone with that much firsthand knowledge of finance and economics should have seen the conflict of interest created by allowing banks to immediately turn over their mortgages to holding companies to securitize, effectively washing their hands of default risk? Hell yes. So did he purposely lie about his picks? Maybe not. Should he have known that the bottom was going to drop out and big time? Absolutely.

Cramer himself admitted their demographic, or at least their goal demographic, was those that were new to financial markets. Thus my reference to the margin.

yup