Jon Stewart on CNBC's 'Worthlessness' 45 comments
March 05, 2009
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Thanks to subscriber Tom for sending this. In the clip below, Jon Stewart does his usual masterful job, this time on CNBC's worthlessness. Here's an index of key moments:
- Cramer's "Bear Stearns is fine" call. (3:03)
- "Lehman Brothers is no Bear Stearns. . . . Lehman Management is incredibly engaged and responsive." (3:15)
- Merrill won't need to raise additional capital. (3:30)
- Cramer saying Bank of America (BAC) is going to $60. (3:50)
- AIG is not going bankrupt because its subprime mortgage exposure is manageable. (4:00)
- Cramer's October 2007 call to buy stocks. (4:54)
- Cramer's February 2008 call to buy stocks. (5:06)
- April 2008, Kudlow & Co., "The worst of this subprime business is over." (5:14)
- Cramer's June 2008 call to buy stocks. (5:20)
- November 2008, "The fundamentals are coming back into play. . . . people are starting to get their confidence back." (5:26)
- Jon Stewart: "Wow. If I had only followed CNBC's advice, I'd have a million dollars -- provided I'd started with a hundred million dollars. How do they do it?" (5:34)
- The ultimate example of a worthless CNBC executive interview: Ponzi scheme maestro Allen Stanford. Talking head Carl Quintanilla's million-dollar question: "Is it fun being a billionaire?" (7:06)
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This article has 45 comments:
By contrast, given the utter failure of so many CNBC calls, CNBC seems to have more value as business entertainment and political opinion for market watchers, but little reliable guidance.
www.businessinsider.co...
Enjoy!
I would not follow Cramer's pics but if you follow his general Advice you may do well. I can point out a few other things like Peak oil and it was supply and demand. Not of oil but of oil futures contracts last July. That was the supply and demand
However all joking aside was'nt Cramer the one who told people last September if they did not need money in the equity markets to pull it out?
Cramer is predicting the bottom in housing for next Summer
Cramer called a bottom in financials last Summer late. Little did he or many of us knew at the time the bottom was a string of w's. with the peaks lower each time.
He makes investing interesting. It's not all his fault I scuffed up his crystal ball by stealing it for medic's bowling night.
Santelli rant on $75billion homeowner bailout saying traders in CBOT is America? Is that a joke? How much is the govt on the hook for now with AIG and Bear guarantees, and TARP?
Who's the worst?.......Cabrera is my vote...
Anyway I stopped watching this political nonsence and swiched to Bloomberg.
Not even 24 hours after the Obama hit list of critics to silence was created.
I would have to agree after I read her take on the tax evasion scandal (www.cnbc.com//id/29410...). She says, "Leave UBS alone. It is hypocritical on the part of our government to do this. Do you know which country is the biggest tax haven in the entire world? The United States!"
So individuals committing tax fraud in the US should not be punished because US banks provide the same services for non-US citizens? Why didn't CNBC mention this several years ago? At least this tip would've generated extra income for me.
Haines with his temper tantrums, Harwood with his nose up the Pres. tail end.
On Mar 05 09:27 AM User 287705 wrote:
> I am glad this is published. Next stop the Obama hunt by Cramer to
> distract attention from CNBC's silliness and misgivings. Everything
> wrong is because of Obama Cramer says now. All the guesses he had
> that were wrong or are wrong because of Obama and Geithner and ...Bernanki.
> Hmm! This is not a financial network. CNBC except for Mark Haines
> and Harwood (spellings?) is a political opinion soap opera without
> a script from Kernan to Bartiromo and ofcourse the stuttering bunch
> from AM to PM. They should just run Faber specials on Wall Mart.
> See I knew I could like Wall Mart thanks to CNBC. They are good for
> something afterall. The whole complex is a "House of Cards" another
> Faber deal and Mr Immelt is doing fine watching it and GE slide to
> ...where? God save their audience and investors.
You reap what you wrought!
Is it not unfair with regional banks and credit unions if we bailout the investment banks? Is it not a moral hazard to prop up insolvent institutions with taxpayer money?
The Santellis don't seem to understand they have lost all respect and goodwill after getting us into this mess. Americans are a civil and forgiving people, but don't push us. Santelli: Shut up and open your mouth only to say 'thank you taxpayers, thank you Washington, thank you Obama'. After that zip it. We don't want to hear your ideas, your opinions, your political persuations or even your movie recommendations.
The show offers scores of market calls and opinions daily. So trying to judge quality by cherry picking 12 calls is disingenuous garbage
This mindset of instant gratification and impatience is what got us into this mess in the first place.
When you do your Spring cleaning, your house always looks messier at first.
On Mar 05 10:25 AM ED K wrote:
> Cramer was a avid supporter of OBama now he's blaming him for all
> our ills,it's kind of like his stock picks,loves em' today and hates
> em' the next day.
On Mar 05 12:48 PM JLR wrote:
> You socialist spin puppets are fast!!!
> Not even 24 hours after the Obama hit list of critics to silence
> was created.
On Mar 05 12:15 PM zvarvel wrote:
> They feed the class warfare that is going to continue to escalate
> for years to come.
>
> Santelli rant on $75billion homeowner bailout saying traders in CBOT
> is America? Is that a joke? How much is the govt on the hook for
> now with AIG and Bear guarantees, and TARP?
>
> Who's the worst?.......Cabrera is my vote...
Fine,who can argue with that, a nice disclaimer, but then he needs to simply say that he is a clown and sit back, enjoy the costumes and the props. the schtick gets old fast.
But in every cesspool of bias celebrity broadcasting, there is one jewel. I have watched FAST MONEY (5:00 pm est) hosted by Dylan Radigan throughout this recession and he has been an advocate for ripping on the abuses of the insurance and investment community, especially AIG as well as the money banks. I give him credit for that and will continue to watch the show.
Jon Stewart and Stephen Colbert are truly fantastic.
On Mar 06 10:44 AM Mousepicker wrote:
> I have yet to see a more irritating, self deceiving idiot than that
> Cabrera.
". . . we must be wary of anyone who needs to come up with great ideas night after night."
Amen! I don't want to be in front of a camera -- at all! These people are in Showbiz. They like being in front of a camera. If they weren't, hardly anybody would watch.
I think there's not much to choose between CNN, CNBC, and MSNBC. Bloomberg is often better. Fox Business News is not available to me. Fox ("fair and balanced") is sometimes more interesting than CNN, etc., and sometimes less interesting. I am fascinated by how impartisan they make their partisanship appear.
I have to take a breathing treatment 3 times daily. I channel surf between all of them, as well as the Weather Channel. I'm supposed to go to the gym 3 times per week. Fox is usually the only "news" choice. So I have ample exposure to all, IMO!
Love the comments above. You have restored my confidence in the investing public.
I particularly appreciated the comment that CNBC hosts talk over the guests and the slaps against that gasbag Kudlow. (To this day, I have no idea what mustard seeds are.) I'd like to also note that his couturiere should be taken out back and shot. Green ties, blue striped shirts with white collars? Go figure.
And a great big hand to Stewart and Colbert who have over the last couple of days lambasted CNBC with wicked brilliance.
jegan
On Mar 05 11:39 AM paulvard wrote:
> I am glad I found a forum to vent out about CNBC. There ought to
> have another channel that competes against this channel. That channel
> is the nest of greedy, arrogant, out of touch people. It looks like
> these are ceo-wannabes that didn't make it. They are so out of touch
> is hurts. Whoever produce and cast this channel should be fired.
> From a senile talking moron Kudlow to smart but psychopatic Cramer
> to greedy Cabrera. Santelli and that stupid-faced kneale these people
> represents what is so bad about Wall street. And they are surprised
> why there are seething anger in Main street
On Mar 05 03:36 PM ScottyEconomist wrote:
> I hate Maria Bartiromo, let's rant on her
I like her, she has that exotic look going on. Understand, I do not listen to her, I just sort of stare into those dreamy eyes...
www.youtube.com/watch?...
On Mar 05 10:51 PM Sigmax wrote:
> Did everyone see them all turn white when GE was vaporixzing on Wednesday?
> Did they think all their negativity was't going to effect them?<br/>You
> reap what you wrought!
What is more laughable is the antics on Cramer and CNBC. If they want to be takes seriously really, stop being a circus and get on with the show. And stop whining, please. You're making me sick. Why not start crying while you are at it?
By the way, there is also an alternative. It's called Bloomberg.
That is unless Jon Stewart says xxxx you to his face.