Damn! Did you see the Jon Stewart interview of Jim Cramer on The Daily Show tonight? Wow. When Jon gets serious, he packs a mean wallop, and he wasn't pulling any punches tonight. Apparently, that low-res clip he showed of Cramer from 2006 just surfaced yesterday on the internet. I'm not sure Cramer even knew it was out, but on it, he's pretty much admitting to doing all the illegal stuff as a hedge fund manager just because it makes him money and the SEC can't/won't stop him. Once again, wow.
Check out the interview if you haven't seen it.
It honestly sounded like Cramer was off balance and sometimes on the verge of breaking down. Don't know if it's true or not, but Daniel agreed with me when we were watching it.
At first, we thought it would be a LOL type, softball interview, but Jon really was furious about the financial reporting industry's failure, no complicity, in the downfall of the American economy. He voiced what the average person was thinking: why do these guys play games with -our- 401Ks to make short term profit for themselves, screw us over, and come out of this richer than ever. It's not right, it's not fair, someone should have stopped them. Bush should have regulated them, and the financial shows should have exposed them. Cramer doing a mea culpea on The Daily Show was so pathetic. His best defense was that the CEOs came on his show and lied to him. Bull. He knew better. He knew what the game was, and he went right along with it.
I hope this gets a lot of press. I have rarely seen an interview as damning as this one. Maybe never. Go watch it.