Jon Stewart Slams Jim Cramer Again (VIDEO)

Jon Stewart, whose pointed takedown of the network CNBC last week has already become legendary, returned to the subject Monday in response to host Jim Cramer's complaint that he was taken out of context during the segment.

Stewart began by clarifying that the "Daily Show" had planned to air its epic dissection of CNBC's follies before the now infamous Rick Santelli was scheduled to appear on the program, as opposed to having done so in response to him canceling on that appearance.

In regards to Cramer, Stewart addressed the host's suggestion that the "Daily Show" had used a particular clip from his show "Mad Money" to make it look as if he had recommended buying Bear Stearns stock a week before it collapsed.

Stewart conceded the point to Cramer, saying with a hint of mockery, "I apologize, that was out of context, technically you were correct, you weren't suggesting to buy Bear Stearns. That was something you did five days earlier, in your buy and sell segment." Roll the clip!

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Comments

[bbriani3842]

wow. . .who'd-a-thought that ALL of the major media outlets would've been scooped by a comedy show. . .

[zorrox]

I am not defending Cramer but I find it interesting that Jon Stewart's brother, Larry Lebowitz, is the COO of the NYSE and was the COO of UBS Investment Bank, which lost about $40b last year.

[Trill]

Zorrox....what the f*** does that have to do with Cramer, the hypocritical dufus? That's right...when you can't deal logically with the issue...attack the person. Put a sock in it!

[zorrox]

My point was that Cramer didn't see it coming, Jon didn't see it coming, Jon's own brother didn't see it coming, a lot of other smart people didn't see it coming. Jon Stewart was attacking a person, Cramer, not dealing logically with the problem. Cramer didn't cause the problem. Yes he gave bad advice, along with 95% of the other financial advisers and pundits in the world. Did your financial adviser know what was going to happen? Trying to blame CNBC and/or a single commentator on CNBC is ridiculous. Many smart people simply didn't understand the complexity of the situation (basically fat tailed distributions and overly simple financial models). I would even claim (from first hand knowledge) that the heads of the investment banks didn't see it coming, even though yes they really are pretty smart people. If Jon wants to insult people and trivialize the problem down to one person's bad advice why doesn't he have his brother on the show to explain why UBS lost $40b and 85% of its market value, destroying the life savings of tens of thousands of people?

[Hufferton]

Is anyone else having trouble viewing the imbedded Comedy Central Videos?

The ads play but then I get the Replay video screen appearing with no video play after clicking on the replay button either. All other videos on Huffpo work (Youtube and all other work).

Also, the Comedy Central website videos do not work, although the ads play.

Adobe Flash 10 (newest version) and Shockwave IE 7 MS Vista Ultimate (64 bit) 500+ kbps plus connection

[woodcut]

On my iMac, I use Fash # 9 & it works. You can read - how to do that @ Adobe.
Not all updates / newer versions are "better". Good luck.

[Pattycakes90]

I thought Jon Stewart was great last night. He said everything I have been thinking and feeling since this whole economic meltdown. I believe the media in general have added to the public's lack of confidence and I think CNBC is especially guilty of this with CNN a close second. Bravo, Jon Stewart!

[cmccann77]

I made a collection of all of the Jon Stewart vs. Jim Cramer videos so you can view them all on one place. Check it out:

http://entrepreneurialactivism.wordpress.com/2009/03/13/stock-market-manipulation-jim-cramer-vs-jon-stewart/

[RedBlue7]

VOTE: 2 things which made America a prosperous nation until 2001...

http://www.e-paperview.com/epaper-poll-1.html

[jpmdevildog]

Weekly World News has discovered a secret past relationship between Cramer and Stewart!

http://weeklyworldnews.com/celebs/6865/jim-cramer-on-the-daily-show/

[EmotionDetector]

Weekly World News? C'mon, jpdevildog! Don't bring that mess around here!

[patrickgarret]

Isn't it sad in America that we have to get our real news and call the BS OUT through a political comedy? Ridiculous. Thank god for BBC.

[kinnycut]

Jim Cramer's knowledge should be questioned because even earlier than that clip, before the election I think, he was telling people to pull their money out of the market.

[walruswheedchick]

Funny remix of Jim Cramer on morning Joe feat. Flight of the conchords and rush limbaugh

http://www.youtube.com/watch?v=YmtbhqVdXDA

[CitizenFarmer]

Cramer should have attacked Bush rather than Obama. If Cramer would have said this was still all Bush's fault, Stewart would have left him alone; or, talked about how smart Cramer is.

[zer0ne]

Asinine. You obviously either don't watch the show, or you do and you're "mentally challenged". Think before you post.

[Golfer59]

good one.;-)

[tbsykesopinion]

Think before you post ---FUNNY!!

[cgboston]

Investment analysis and investment decisions require a lot more than the quick yay/nay you get from Cramer. I don't watch him often but the one time I did give any merit to what he said I sold a stock that doubled. But that is my own fault - I paid what I call "tuition" (missed out double) to learn not to listen to this man.

His stuff worked in the wild bull market of the 90's when excess was the key and the market rose almost every year. he is utterly lost in a market like this. the average person who never does enough research to really justify a purchase or sale of an investment, likes Cramer because he is the Lipitor of stocks - a 1 pill solution to a bad (stock/cholesterol) habit. investment research is a difficult, tedious task. And choosing when to invest and position size are each another entirely different, and equally difficult discipline that is learned through a lot of experience.

Stewart does a good thing to expose the whole idea of these types of shows - you may get a good idea from them but know the field you are playing on! In my opinion though, Rick Santelli gets a bad rap and I'll bet his bosses told him not to come on the show though he probably would've agreed with Stewart on many of these points - during the day he is often a lone island of sanity amongst the cheerleaders on CNBC.

[protagonia]

Cramer's ego will keep him in this losing battle until the end.

Good.

He does not deserve to continue employment.

He deserves to be out of a job - at the very least.

[DWSouthern]

The old out-of-context argument of Cramer and others is now useless. Video tape nails the liars. Notice that Jon Stewart's clips of Cramer did not just show a part of a sentence. It showed several minutes so that the context was clear. Sorry rightwingers, but this also will work of leftwing liars. So don't get despondent.

[DWSouthern]

Cramer should just shut up. Jon Stewart will destroy what little is left of him if he keeps flapping his mouth. What a hoot: Cramer accused Stewart of being a comedian. Perhaps no one will ever again accuse Cramer of being trustworthy or prescient.

[protagonia]

Let nature take it's course.