exactly, it's pretty easy to beat up on Cramer and easy to beat up on stock pickers after the fact, but how about going after people that matter.
You people don't give cramer enough credit as far as his influence. ALOT of people listen to him, especially investors, mind you they're usually small guys with online brokerage accounts, but it still accounts for a lot of people and enough money to move stocks. Cramer IS a problem and a source that matters. I know I speak on deaf ears at ET since the majority of you don't know much about trading or politics, but in lieu of that you should understand Cramer has his own show for a reason. Ratings drive his show and people watch it. They're dumb for watching it and even worse for listening to the guy, but they do it nonetheless. What Stewart was saying was a very good argument. He's bringing it up AFTER the fact because average investors as well as the majority of people who don't invest don't understand what goes on until it already happens. But a seasoned Wall Street veteran like Cramer who supposedly knows it all and has all the connections an investor would ever want DIDN'T know or just didn't say anything and guided his audience in the very wrong direction. Had americans known at an early point about how the banks were using their capital and leveraging their assets, this situation wouldn't be anywhere near as bad as it is right now. CNBC is supposed to to be a central hub for financial news and they have no idea how to report it. Any monkey can read something off of yahoo finance, but these guys are supposed to be Graduate professionals and they're not. They're all hacks and can't do their job for shit. Sometimes it's nice to watch on mute for some of the girls, but it's just become another reality TV show.
I don't know about you but in my pecking order and most americans U.S elected officials supposedly know what the frick they are talking about also, so when those people tell us months , and hours earlier that Bear Stearns, Fannie, and Freddie, the housing market , and any other instituitonal arm is solvent and ok, i tend to think they are on the spot! cramer was just listening to barney and the rest of them. They told us everything was fine. Bear stearns was fine, who the frick are you kidding! The CDs 's didnt sink bear stearns.
I'll let you in on a little secret. Those "elected officials" don't always know what they're talking about either. Have you ever seen what goes on during CSPAN? Talk about wasting a shit load of money. 90% of those guys are 100 years old and i'm surprised they are still ticking. They earn $100,000+ a year with tax benefits paid for by us and they spend, or waste rather, entirely too much time on shit that doesn't matter. Taking 3 months to debate over what color paper they should use for the new memo's. Politicians are scumbags. They're the lawyers of the government. There are a lot of people who are playing stupid about the whole situation. It happened, so as far as I'm concerned, outside of getting rid of the scumbags that did it, we should worry about how to fix it instead of the shoulda woulda coulda's
i'll let you and everyone like you in on a little secret ,no kidding!! elected officials like you act like no one else knows they are lying greedy self absorbed varmin. My point was again that cramer or dykstra are not to blame any more than you or I. Those elected officials condoned and participated in this crap, cramer merely said bear stearns was fine. They were fine, so long as fannie and freddie were fine so was bears stearns and lehman. Jon stewart justs wants his media blitz he is as cheezy as barney frank looking for fame going off about nonsense. Why doesn't Stewart ask barney frank what he was talking aobut when he boldly claimed Fannie and freddie were fine? Why doesn;t he interview Rahm emmanuel and ask him how fannie and freddie could award him bonuses when they weren't making any money? he doesnt because he is a whiney wus and wants to screw with cramer who also wants ratings!
That sounds like a very well thought out response. You are the vioce of intelligence on ET. Congratulations.
I eagerly await Stewart's exposure of the AIG bailout that is returning 100 cents on the dollar to GS, various foreign banks and hedge funds for unregulated CDS bets they made, in which they voluntarily took on AIG's counterparty risk. Why should US taxpayers be on the hook for that? It is far more serious than the bonus issue. We'll never hear about that from Stewart. Hits too close to Obama and those he is in bed with. Far easier to go after a couple of individuals.