March 18, 2009

Tucker Carlson: How Jon Stewart Went Bad

Posted: 11:22 AM ET

By political columnist Tucker Carlson via The Daily Beast

Jon Stewart’s recent attack on CNBC’s Jim Cramer was so brilliantly performed, so smoothly produced and cruelly compelling, almost nobody noticed that it didn’t make sense. The climax came as Stewart put up a number of grainy clips of Cramer describing how to artificially (and unethically) depress a company’s stock price. The video was damning. Cramer looked sweaty.

Stewart summed up the significance of what Cramer had said on the tape: “You can draw a straight line from those shenanigans to the stuff that was being pulled at Bear and at AIG, and all this derivative market stuff,” he said sternly.

Except that you can’t draw any such line. In the video, Cramer hadn’t mentioned derivates or securitized loans or credit default swaps, or any of the other exotic financial instruments that caused the fall of AIG and the current recession. There’s no evidence that Jim Cramer had anything to do with any of that, and Stewart didn’t offer any.

Before Cramer could defend himself, Stewart moved on to a new charge: Cramer and his colleagues at CNBC had known that the financial sector was in imminent danger of collapse, but had pretended otherwise—a ruse that Stewart described as “disingenuous at best and criminal at worst.”


Filed under: Economy

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Sparky   March 18th, 2009 12:43 pm ET

if the banks made people buy homes they cant aford, what about the slimy realastate agents

mary harris   March 18th, 2009 12:56 pm ET

with regard to Mr. Bernie Madoff, personally, I think it would be such a shame to put a man of such "grandeur" in prison. He's older and use to an upscale elegant lifestyle style. I shudder at the very thought of his survival, however, I see no point in we taxpayers paying for a roof over his head and 3 squares a day. It would be more beneficial to ALL should we instead, recoup EVERY ASSET that he, his wife, his sons and his brother own, very charitablly give them each, perhaps $25000 to 50,000 to secure a small residence and then let THEM try to earn a living like the rest of us working rats.

Lori   March 18th, 2009 1:18 pm ET

Why is so much being said about Chris Brown. This young man obviously needs help especially if he grew up in an abusive household.

The thing that really gets me is America's double standards. The reported abuse incident of a GOSPEL singer who is old enough to be Chris Brown 's father who was locked up for abusing his ex-wife, got little press. Not only was this kept hidden for a month, but he supposedly grew up in a CHRISTIAN household. Additionally, some of the very talk show hosts who bashed Chris Brown, uttered not a word about him because he is their friend.

Rich   March 18th, 2009 5:26 pm ET

Tucker......time to go back to the "bow tie"!! Don't be so naive.......Why do you think the Bush adm. had former SEC Chair Donaldson removed for Christopher Cox?.......The "traders" lobbied the adm to have him and the regulations loosened that allowed "naked shorting" of stocks which in turn drove their values into the ground and "decimated" the retirement savings of millions of average working Americans such as teachers, firefighters, and policemen while the traders walked off with millions!!

Don't get me wrong I don't think Jim Cramer did anything intentionally wrong but Tucker get with it!! I suppose you still think Saddam Hussein still had WMD's!

JIM CARROLL INTERNET FREE PRESS   March 18th, 2009 6:10 pm ET

For only ½ of a trillion dollars, America could pay
ten million unemployed workers $50,000 each for a year.
This would solve the economic problem and would
cost a lot less than giving a few trillion dollars to (tfb).
It would be a good way to fund a Reserve-Retraining
Work Force which would solve the problems
of unemployment. Unemployed people ought to be
paid a good living wage while they go back to school.

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