America cheers as satirist delivers knockout blow to TV finance gurus

[babylonsister]

America cheers as satirist delivers knockout blow to TV finance gurus


For the past 10 days the US has been gripped. Even President Obama tuned in as the country's foremost TV comic, Jon Stewart, unleashed an extraordinary broadside against TV's top financial commentators for their part in the unfolding economic crisis.


Jon Stewart recording an episode of The Daily Show. Photograph: Evan Agostini/AP


First came the imperial marching music and a fiery explosion. "You've watched snippets of them for days, or meant to after your friends sent you the link," a voice boomed with mock gravity. "Tonight, the week-long feud of the century comes to a head."

It was a comically absurd drumroll for what, on the surface, was merely a squabble between TV presenters. In one corner, Jim Cramer, the closest thing to a celebrity in American financial journalism. In the opposite corner, Jon Stewart, the satirist and host of the fake news programme The Daily Show on Comedy Central. But unlike many a big fight, this one more than surpassed the hype. Nothing less than financial reporting itself was put on trial – and found severely wanting.

Cramer, who dispenses raucous advice to investors on the Mad Money show on the business channel CNBC, was eviscerated by a serious and genuinely angry Stewart. Meek and contrite, Cramer was pummelled like a rope-a-dope over his profession's failure to be an effective watchdog of Wall Street. There was no cornerman to throw in the towel.

The interview was one of those classic television moments that crystallised the public mood in the credit crisis. Stewart articulated the anger and bewilderment of millions of Americans who now feel ripped off and afraid. He framed the question everyone wanted asked: how were the financial masters of the universe allowed to pursue their ruinous behaviour unchallenged for so long?

It caught the attention of the White House, prompted a frenzy among bloggers and soul-searching in the media, which failed to spot the biggest story of a lifetime or warn the public until it was too late. Indeed, CNBC and other supposedly objective journalists stood accused of complicity with big business, belonging to a cosy coterie that egged on company chief executives and fanned the flames of excess.

The interview has also burnished Stewart's reputation as the last best hope in the media when it comes to, in the earnest phrase of news network CNN, "keeping them honest". It was this comedian who, like a court jester, told uncomfortable truths about the Iraq war when the mainstream media was playing cheerleader. Now, as the financial apocalypse unfolds, it is Stewart again who is scything through the herd mentality and culture of deference.

more...

http://www.guardian.co.uk/world/2009/mar/15/usa-tv-jon-stewart-economy

[BlooInBloo]

1. The word "eviscerate" seems to keep popping up in this discussion....

:rofl:

[sam sarrha]

2. Cramer should be investigated, tried and made someone's bitch in federal prison >Link>>

http://video.google.com/videoplay?docid=4490541725797746038

this explains it all..MUST SEE... it is 25 minutes of "ENLIGHTENMENT". THE CRIMINALS WERE LIKE A BUNCH OF F'n MONKEYS AT A SALAD BAR..

THIS VIDEO SHOWS THAT THE BU$H MINIONS TOOK OVER THE SEC AND CREATED AN INDICTMENT FREE ZONE FOR CRIMINAL ACTIVITIES, AND "FINANCIAL TERRORISM" AND WAS COMPLICIT IN CAUSING THIS CRIME AND THE RESULTING CRASH

[southernyankeebelle]

3. BRAVO BRAVO FOR STEWART A COMEDY SHOW BRINGS TO

LIGHT WHAT THE MAIN STREAM MEDIA HAS FAILED TO DO. SHAME ON THEM AND CNBC.

[MannyGoldstein]

4. Knockout Blow?

Hardly.

Stewart did as good of a job as anyone in his position could possibly do - but nothing will change.

[soothsayer]

5. Sadly, you're probably right, but here's hoping you are wrong!

[babylonsister]

6. Must be a bummer to go through life

under a constant umbrella of negativity. I couldn't do it.

[MannyGoldstein]

8. Two Things I'll Never Bet Against

1. The stupidity of Americans as a whole
2. The ability of politicians to be purchased cheaply (except Obama - I think he's honest)

[Saturday]

7. I agree, remember when Colbert sliced and diced Bush?

Nothing happened. Nothing changed. This is yesterday's story.

[Demeter]

9. Actually, I Think That's When Bush Gave Up Even Pretending to Be President

the Shrub went quite limp. He moped, whined, but watched his people getting kicked around without so much as a protest. When Karl Rove, Bush's Brain, failed to deliver Congress in 2006, and left the stage, it was like the Oval Office was vacant except for cleaning and secretarial staff.

[burythehatchet]

11. not until we lay our bodies on the machines.

[Demeter]

10. I Salute You Jon! That Took Guts.