Inspire Political Discourse: Jon Stewart

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.

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Jim Cramer Interview Outtake Pt. 1

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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.

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Jim Cramer Interview Outtake Pt. 2

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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.

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Jim Cramer Interview Outtake Pt. 3

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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.

Posted by Nicole at 09:12 AM in 2009, ETHICS, Financial Markets, Henry Paulson, Jim Cramer, Jon Stewart, MEDIA, National, NEWS, Stock Market, Television, VIDEO | Permalink | Comments (0) | TrackBack (0)

11 March 2009

Host of MSNBC's "Mad Money", Jim Cramer, Admits to Manipulating the Market, Other Illegal Activity

You may be aware of the ongoing kerfluffle between Cramer and Jon Stewart, If not, I plan to catch you up later.

Suffice it to say that I am thinking that Mr. Cramer is now wishing he had simply ignored Stewart rather than acting like a big d.ick about the whole thing. Joe Scarborough might be wishing the same thing.

The video is an interview Cramer did with TheStreet.com in 2006, and in it, Cramer admits to illegal activity as a hedge fund manager. The video is fascinating but I dug around and found more info. Links below the video. Enjoy.

From HUFFPOST:

In it, the host of Mad Money says he regularly manipulated the market when he ran his hedge fund. He calls it "a fun game, and it's a lucrative game." He suggests all hedge fund managers do the same. "No one else in the world would ever admit that, but I could care. I am not going to say it on TV," he quips in the video.

He also calls Wall Street Journal reporters "bozos" and says behaving illegally is okay because the SEC doesn't understand it anyway.

Here are some gems:
-On manipulating the market: "A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,"

Jim Cramer is a Complicated Man
Jim Cramer Uses CNBC to Manipulate Stocks
A Scandal Unfolds, and the Media Mob Scampers
WATCH: In Shocking '06 Interview, Jim Cramer Admits To Market Manipulation, Touts Illegal Activity

Posted by Nicole at 01:42 PM in 2009, ETHICS, Financial Markets, Jim Cramer, Jon Stewart, MSNBC, National, NEWS, Stock Market, Television, VIDEO | Permalink | Comments (0) | TrackBack (0)

05 March 2009

VIDEO: Jon Stewart Decimates Rick Santelli and CNBC

Rick Santelli, the CNBC reporter who became famous for ranting on air about Obama's mortgage plan, and called homeowners who would benefit from the program "losers", was scheduled to appear on Stewart's show on Friday last.

Santelli bailed out, and Stewart proceeded to decimate Santelli and CNBC for 8+ minutes. Oh, my. Completely hilarious, and seriously BRUTAL--- the best of Jon Stewart, and a must watch!

At one point during the thorough dunning of CNBC Stewart says:

"If I had only followed CNBC's advice, I'd have a million dollars today. Provided I started with a 100 million dollars."

And from Jason Linkins:

last night, Jon Stewart basically said, "I'll see your canceling on me and RAISE you a thorough evisceration of the faux-populist bilge you've been pumping and a complete blasting of your network's credibility."

Stewart aped Santelli's newsgrabbing shouty-faced blubber from the Chicago Mercantile Exchange, coyly admitting, "I have to say, I find cheap populism very arousing." And then, for eight minutes, Stewart at his arch best (with the help of the crackerjack Daily Show research team) went on an absolute tear and burned CNBC right down to the doorframes.

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