Friday, March 13, 2009

Cramer vs. Stewart Showdown

Good Evening Folks!

I just wanted to let everyone know that I am away over the weekend. I had to put this up today before I left.

Stewart really lets Cramer have it in this interview.

Its about time CNBC and Cramer took some heat. You gotta wonder how many portfolio's have been destroyed by the constant pumping by CNBC over the the past 2 years as stocks dropped 50%.

Kudos to Jon Stewart for exposing this network for what it is: A sham thats in bed with Wall St. Hopefully more networks will begin to focus on the shennanigans that continually occur on CNBC.




Part 2




Part 3


7 comments:

Anonymous said...

Jeff,

I just don't understand investors. Are they so blind or too naive to believe these crooked CEO? Didn't they learn anything from the past? For instance, Ken Lewis said BOFA does not need any more money from the government because they were well capitalized. Then months later they asked for more. Now these crooks say the bank is in the black and the investors believe them again?

Since last week, I don't see any important change in the market fundamental. The housing value is still going down. The unemployment rate is getting higher. Even if the government suspends the mark to market accounting rule, the banks are still sitting on huge toxic assets. They are literally insolvent. Nothing has changed here. Thus I don't see any ration for the big rally this week.

Jeff

Jeff said...

Jeff

Ditto bud. I don't get it either. My best guess here is this was a coordinated plan to instill confidence in the system. I wouldn't be surprised if giethner asked then to do this.

Most people will believe it because they don't do any research when it comes to investing.

johndaniels said...

John Stewart = THE man

owned Santelli AND Cramer.

Anonymous said...

While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?


China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.

The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts

Thanks,

Ron with 30 plus years in the investment business and banking industry.

Jeff said...

anon

THats fine but if thats the case. CNBS should not say that they are a news organization.

ADmit to the public that you are a WAll St. puppet. DOn't call yourself a news networt when you run propoganda all day.

Look what NBC news did to KEith Olbermann and Chris MAthews when they turned the convention coverage in to a left wing propoganda machine.

THey fired both of them and sent them back to their entertainment shows.

They then replaced these two left wing clowns with credible news people.

CNBC shouldn't be entertaining when peoples whole life savings may be effected.

If they want to be a news network then both sides should be represented and the credit bubble should be widely discussed.

CNBC badly represents themselves and many Americans have lost 50%
of their net worth listening to these idiots.

Jeff said...

Ron

Regarding the second part of your post thanks for the link. I totally agree with you about China and the monetization concerns.

We need to figure out some solutions in order to get out of this mess.

We have some tough decisions to make regarding this crisis.

Thanks for sharing your thoughts and welcome to THTB. YOur experience. as a 30 year vet of the industry are appreciated and I am sure many will find your insights to be helpful.

Joey said...

Maybe I'm not as old as some of you cats but that was probably the best piece of journalism I have ever seen.