by Marcus Sakey
I imagine many of you are Daily Show watchers. For those that aren’t, there’s recently been a scuffle between Jon Stewart, the host, and CNBC, the financial network. Stewart has been hammering them for turning financial news into entertainment, for shoddy reporting, and for essentially acting as a mouthpiece for CEOs.
Jim Cramer, the hyperactive host of Mad Money, is a perfect example. His recommendations are treated like gospel by many investors, and yet his picks—like recommending Bear Stearns repeatedly, including five days before its collapse—are, umm, not 100%. The problem, however, is less that he made some wrong calls, and more that he simply took the word of corporate CEOs, including those at Bear, and broadcast it as journalism.
Anyway, last week Cramer agreed to come on the Daily Show for what I imagine he expected would be a comic interview. Instead he found himself in the kind of interview I’ve been dying for our most prominent journalists to do. Informed, respectful, not personal, but actively attacking deception and obfuscation.
It was a thing of beauty. I actually found myself applauding on the couch.
I won't post all of the segments (you can find them here if you like) but here is one that sets the stage:
And here is the interview itself:
All I can say is, A) God bless Jon Stewart, and B) Why aren't our "actual" journalists doing this?
What do you think, folks? Am I off base in thinking that it might be nice if other reporters followed his lead?