Is it ironic or merely logical that the most cogent questions about the current financial crisis are being asked by a fake-news host on a network devoted to comedy? Jon Stewart eviscerated Mad Money-man Jim Cramer on The Daily Show last night using Cramer's own background against him: He showed clips of Cramer from 2006 in his hedge-fund manager days explaining how to game the system. Stewart points out that Cramer not only should have known when he saw the same cons being run by Bear Stearns and their ilk, he did know — but didn't bother to tell viewers.
Read analyses by Huffington Post/AP and Village Voice. Here's an excerpt from the interview; the entire show can be seen at comedycentral.com.
This article appears in Mar 11-17, 2009.