If you haven’t seen Jon Stewart hammer ex-hedge fund trader and CNBC commentator, Jim Cramer, on The Daily Show last week yet, I strongly suggest you watch this video.
Jim Cramer is the loud clown that hosts CNBC’s Mad Money at nights. I’ve never really understood why anyone would pay attention to this joker, let alone listen to the over-hyped crap he has to say about stocks. I often pondered at CNBC’s decision to air his investor-dumbifying nonsense. It is obvious that the network’s objective is to entertain and boost ratings rather than inform and educate the investment public.
During this video, Stewart criticizes Cramer for his shameless admission of manipulating stocks and using various techniques to profit from short selling. He also bashed Cramer and CNBC for failing to warn investors of the pending banking crisis and for indirectly promoting it by letting officials from many of the companies that got us into this mess to lie to our faces on air.
Even though we knew for years where this blatant market manipulation and greed would take the stock and real estate markets, it still makes me sick to my stomach to watch this interview. This should be a wake up call to all those who have swallowed the “invest-for-the-long-term-and-trust-your-financial-advisor” lies that our country has been brainwashed with for decades.
