Friday, March 13, 2009

Thank god for the Daily Show

I guess a lot of you've seen the Stewart/Cramer showdown yesterday which even made it to the front page of the NYT today. In case you haven't, here it is

After the excellent coverage of the election marathon, I thought it cannot get a lot better. Stewart tells it like it is. The show continues to amaze me. After Stewart confronts Cramer with a little video sequence that shows him talking about his hedge fund, the guy is lying on the show, just to get called out a second later, after Stewart shows a second, a third, and a fourth sequence. In between he is complaining about people lying to him...That's what's wrong with the financial market: dishonest ruthless people without any sense for ethics and, even worse, no backbone. All that was on display last night.

How in the world do people like that douche bag get shows on TV? What's wrong? And why does it need a show on Comedy Central to call those idiots and the people profiting from puppets like him out?

"It's not a fucking game!" Thanks Mr. Stewart.


Blogger Huevos McGringo said...

stewart is right. the stock market is like a big pyramid scheme. as long as companies can stay solvent, their share values rise and fall mostly based on manipulation, whim, and contagion effect.

sorry, soapbox moment.

3/13/2009 3:22 PM  
Blogger Andy said...

Seems to me that the biggest problem that Stewart exposes is not that the stock market is a fraud - but rather that what has come to exist as journalism is no longer even one sliver of an iota unbiased.

The more biased the news program, the more successful. CNN is liberal, Fox is conservative, CNBC is bullish. But they all pitch themselves as news - which in our minds still means "objective"... (Fox is probably the least guilty, but most slanted).

In the end, hopefully bad advice will lead to loss of credibility. But the consumer bears responsibility for what he consumes... the follower for the leaders he follows.

Oh - I don't think the stock market is a fraud at its core - but everything is a little corrupt... there are insiders in everything.

3/16/2009 11:50 PM  
Blogger Huevos McGringo said...

i don't think the stock market is a "fraud at its core". but i do think that stock valuation and movement has more to do with group psychology and [mis]information than it does with the company's productivity and prospects for growth.

the stock market is also presented to us "consumers" of financial services as being a fool-proof safe bet. but it isn't necessarily. the dow actually lost value between 1966 and mid 1982. and even before the downturn of the last year or so, the dow hadn't gained any significant value [inflation adjusted] at any point since 2000.

just imagine if that social security privatization shit had gone through.

3/17/2009 5:25 PM  

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