Oh, You Make Me Want to Shout!

by Bryan Derman on March 16, 2009

in Bryan Derman, Caught My Eye, Credit Crisis, Current Events

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I‘ve been trying to enjoy the little culture skirmish that surfaced last week as media watchdog Jon Stewart of the Comedy Central took comedian Jim Cramer of CNBC to task for failing to warn the public that the valuation of  houses, equities, municipal bonds, commodities, and every other financial asset in the global economy had gone bubblistic. (Video of their on-air confrontation here – in multiple segments.)

This story (the pointless media dust-up, not the dramatic global asset devaluation) was important enough to be covered on virtually every public affairs TV show over the weekend.  From my casual observation, the common sense response came from George Will on ABC’s This Week (starts at 3:33 from the end).  Marveling at the idea that anyone could mistake Cramer for an objective journalist, he offered three bits of folksy wisdom:

  • Never play poker with a guy named “Slim”
  • Don’t buy a Rolex from a guy who is out of breath
  • Don’t take stock tips from a man that is shouting

Words to live by…

2 Responses to “Oh, You Make Me Want to Shout!”

  1. Inasmuch as Cramer is about the only talking head on TV who takes the time to explain in some detail how to analyze and think about investing, this is another example of “no good deed goes unpunished”. Of course, I read somewhere that the basis of good comedy is meanness on some level, so maybe Cramer should have just shut up and waited for Stewart to move on.

  2. Jim Bruene says:

    I’m with you Bryan…I’d heard about it from several friends and was completely underwhelmed by the supposed “controversy” when I watched it online. The interaction between the two celebrities was mildly entertaining, but it almost seemed contrived to pump up the ratings for both shows. I actually thought Cramer did an admirable job of maintaining control and not being overly defensive. And Jon Stewart, of course, understands that CNBC in general, and Cramer specifically, are primarily in the entertainment business. No one is going to watch, or advertise, on a financial show that spent 18 hours a day telling people to put their money in CDs.

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