If you didn’t see it last night, well, here ya go…
That very last part about Stewart’s mother…wow. I think we all know somebody like that and it’s why we’re so furious when we consider how jokers like Cramer were asleep at the wheel at best or, at worst, were complicit in all of this.
As I predicted, that surprisingly frank but remarkably dumb interview Cramer gave in 2006 (where he basically admitted that the whole market was a big scam) was a centerpiece of Stewart’s assault. And Stewart could have shown A LOT more of that interview too, but he hit the high points and made Mr. Mad Money look like an absolute fool. Because Cramer would try to explain that he was fighting against a practice like “fomenting”, but then Stewart would play another clip where he said he recommended it because the SEC doesn’t know how to stop it. And then Cramer would sit there with a smile/grimace on his face, shrug his shoulders and wait for Stewart to begin talking again.
It was pitiful.
But yes, Stewart didn’t let Cramer off the hook. He kept pounding him with his own BS and backing him into a corner until there really wasn’t anything left for Cramer to do expect say that he’ll try not acting like a maniac on his show and actually tell people how the market really works. And after the schlacking Cramer received last night it’s hard to imagine him actually going back to his “Mad Money” ways without inflicting some serious psychic damage on himself. Still, I’m not holding my breath.
To his credit, Cramer did actually go on the show and take his lumps. Good for him. It’s more than you can say for Rick Santelli. But is anybody going to trust what Cramer says anymore? Is his show at CNBC done?
Remember, Stewart went on Crossfire, ripped everybody a new one and 6 months later it was cancelled.
I’m just saying…