Jon Stewart responds to the video posted here, re an interview with Jim Cramer, aired on Comedy Central last night.
Jon Stewart, forthwith to be known as the guy we turn to for the real news. It may be a comedy show, but as Jon Stewart spoke for everyone who has been affected by the takedown of Wall Street, it turned out to be a first class moment of real journalism. Well done, Mr. Stewart.
In segment no. 1, Cramer talks about Santelli, as well as his own mistakes. Uncensored, and unedited.
In segment no. 2, Stewart shows Cramer some video clips from his days as a hedge fund manager, a video which we posted here. Uncensored, and unedited.
In segment no. 3, Cramer defends his position as a commentator on an entertainment show. Huh. And here I, sadly deluded apparently, thought that "Mad Money" was intended to be taken seriously, used as a tool in the quest for financial solvency. Stewart says "These guys at these companies were on a Sherman's march through their companies, financed by our 401ks, and all the incentives of these companies were for short-term profit and they burned the fucking house down with our money, and walked away rich as hell. And you guys knew that was going on."
Jon Stewart, you rock. Unedited, and uncensored.
By the way, as Stewart himself said in video no. 3, Henry Paulson is the guy who wrote the rule that allowed people to over-leverage.
The video which started the brawl between Stewart and Cramer/CNBC, can be viewed here.