18
   

the Jon Stewart/Jim Cramer dust-up

 
 
Robert Gentel
 
  1  
Reply Mon 16 Mar, 2009 01:51 pm
@Diest TKO,
Diest TKO wrote:
Bait or not, I think it's fairplay. CNBC needs to share some same and loss of face IMO.


Why? This seems like that mentality where you need a scapegoat for the altar, not matter how tenuous the pretext.

If we were to get all moral with Stewart we should require that he preface his attacks on other networks, shows and personalities with the disclaimer that he likely stands to profit from doing so.

You know, in the interest of full disclosure* and all.

*Hey, two can play journalism high horse.
Cycloptichorn
 
  1  
Reply Mon 16 Mar, 2009 02:03 pm
I think a lot of this argument is simplified if you admit that CNBC is not a reporting channel, but something more akin to the Home Shopping Network.

Cycloptichorn
0 Replies
 
Diest TKO
 
  1  
Reply Mon 16 Mar, 2009 02:03 pm
@Robert Gentel,
Perhaps RG. I am however very comfortable with a comedian making their money off of ratings. Someone handing out information and asking people to trust them, I for whatever crazy reason want to hold to a higher standard.

T
K
O
0 Replies
 
Lightwizard
 
  1  
Reply Mon 16 Mar, 2009 02:10 pm
@farmerman,
That was a disclaimer and I believe Stewart made a quip about it during the show. He's likely cut off the DS from a lot of potential advertisers and I don't think a little surge in the ratings is necessarily going to spell out much more money for commercial time. The rates are based on a Niesen track record for the year. The salesmen from the Comedy Channel have that responsibility, not Stewart. Hey, perhaps he is miffed for not being asked back to host the Oscars?
0 Replies
 
hamburger
 
  1  
Reply Mon 16 Mar, 2009 02:24 pm
@Robert Gentel,
robert wrote :

Quote:
And here's the rub, Stewart did not demonstrate that Cramer is scamming people on his show


and neither did i .

i wrote :

Quote:
when i listen to "car talk" and similar programs , i sometimes do pay attention to them since all i now about an automobile is how to drive it .
so i do appreciate some of the advice given . i would not think that they are trying to scam me .


imo the financial commentators are "holding themselves out to be qualified" to give financial advice .
i have not noticed that the programs are prefaced with a warning that the advisers/commentators/performers are NOT qualified to give such advice .
sometimes there is a minuscule written comment at the end of the program - but i've never been able to decipher it - it's what one sees when cars are being advertised .

robert further writes :

Quote:
That is the problem then, not Cramer. With or without Cramer that kind of person is screwed. Financial advice is inherently very risky business. Anyone giving any kind of financial advice in any kind of format can cause the undiscerning investor to lose money.


imo if the advice is risky (but not only that , it is likely given by people that are not qualified and therefor likely do not have to subscribe to a code of ethics) , the NETWORKS should have the responsiblity to make that clear .
expecting the "ordinary" listener to have to sift through that is , if not "scamming" , at least "unethical" (and i'm not sure what is worse) .

of course , it is an easy escape for the networks and the "performers" to claim that since they are NOT qualified through any governing body , they also do not have a code of ethics to subscribe to and can therefor not be blamed for anything they ever say .

personally i believe i have at least a bit of understanding of the financial market and am not likely to be swayed one way or the other by any commentors , but expecting every "ordinary" listener to be aware of the fact that these people likely are NOT qualified , is stretching things a bit (hence my comparison to such shows as "cartalk" ) .

if those financial shows would have no effect upon "ordinary" investors , i'm sure they would no longer find any sponsors .
no investment professional is likely going to pay any attention to the "talking heads" ; they get their information directly from the market .
those shows are squarely directed at the non-professionals imo - they are like those old-fashioned "flycatchers" .
http://www.made-in-china.com/image/2f0j00rCwTuYltsHqbM/Fly-Glue-Trap-HSH-COR-.jpg

and they did catch plenty of "flies" .
hbg
Lightwizard
 
  1  
Reply Mon 16 Mar, 2009 02:50 pm
@hamburger,
Right, if I had listened to that nut case, Cramer, I would be in holy hot water. He deserves every kick-in-the-pants he gets and wailing about Stewart until he gets on the show and virtually wilts into a sniveling little frog (I don't know, he looks like a frog) is enough for him to lose every advertiser foolish enough to spend a nickle on him.
0 Replies
 
Diest TKO
 
  1  
Reply Mon 16 Mar, 2009 09:56 pm
I rewatched the interview. I feel bad for Cramer. He got to be the one to take all the bullets, but I think it's because he represents the type of bad network decisions CNBC made. He's a likable guy, and so maybe Jon Stewart will take it easy on him... yeah... not so much.

I would have rather seen a different guest on the show, that one screaming idiot, or perhaps a CNBC producer.

I am impressed however that Cramer kept his cool while being force fed some serious humble pie.

T
K
O
0 Replies
 
JTT
 
  1  
Reply Tue 17 Mar, 2009 12:06 am
@dlowan,
Quote:
As far as I am aware many were talking about it, and predicting the world economy being pulled down by America's foolishness.


Mmmmmmmmmmmmmmmm, ...
0 Replies
 
 

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