Tuesday, March 10, 2009

Jon Stewart Vs CNBC

Much has been made of the battle between the staff at CNBC and Jon Stewart over a bit Stewart did criticizing CNBC for their bullish comments before the bear market kicked in.

Business news makers, commentators and journalists are used to operating in their own little sphere, hardly noticed by the rest of the world, but when the economy became the biggest story in the world, they found themselves suddenly thrust into a much larger spotlight and they're not at all comfortable there.

These guys are just going to have to butch up about it though, because the market crash and the credit freeze and the housing bubble happened on their watch. It was their job to warn us about this disaster before it hit and most of them didn't.

There's going to be a lot more uncomfortable comments thrown their way in the days ahead, so they'd better get used to it.

Jon Stewart's initial Volly


Jim Cramer at CNBC Responds


Stewart responds to Cramer's Response


Oh yeah, by the way, Cramer's advice to sell everything at the bottom of a Bear Market? Not a good idea.

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