Jim Cramer vs. Jon Stewart, ctd.

More

The war between CNBC and Comedy Central, which began with Rick Sanelli's rant and spiraled into an exchange of on-air aspersions between Jon Stewart and Jim Cramer, ended last night when Cramer appeared on The Daily Show. You can watch the clips here.

It starts off looking like the proceedings of a truth and reconciliation commission. ("How did we come to this?" Stewart asks. "They're not losers, they're fighters," Cramer says of the mortgage-burdened homeowners.) But then Stewart edges away from compliments ("I can't reconcile the knowledge you have of the intricacies of the market with the crazy bullshit I see you do every night") and goes in for the kill: "I know you want to make finance entertaining, but it's not a fucking game." It's not going to enhance anyone's understanding of derivatives or credit default swaps, but it's pretty entertaining.

And anyway, Stewart's criticism of CNBC seems like it has less to do with the purpose of derivatives than the purpose of a news network. There are substantive issues at stake here -- should hedge funds be regulated and so forth -- but the main ones seem to about whether a news network like CNBC needs to treat these questions with consistency and sobriety.


Jump to comments
Presented by

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.
Get Today's Top Stories in Your Inbox (preview)

Why Are Americans So Bad at Saving Money?

The U.S. is particularly miserable at putting aside money for the future. Should we blame our paychecks or our psychology?


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Politics

Just In