Friday, March 13, 2009
The Daily Show vs. Jim Cramer
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Ultimately, Stewart is unfair to Cramer. Yes, it would be nice if Jim Cramer would operate as more of a market watchman and do the hard-hitting investigative journalism that Stewart envisions as part of Cramer's job. But Cramer admits himself that what he actually does is more in the way of an entertainment show about the market. One has only to watch the show a little to see that his persona on the show is more in line with Bob 'Bulldog' Briscoe - a fictional character on the TV sitcom "Frazier." Cramer is clearly not the investigative journalist that Stewart would seem to demand of him. Stewart also ignore that CNBC has advertisers that are most likely major players in the market and that they will not support the kind of show that Stewart imagines them putting on the air.
Stewart seems to want Cramer to do the job of government in regulating the markets, but he's just not going to get that is he? I mean, in what world?
The reality is that our federal legislators are obviously in bed with the great manipulators of the markets and that the SEC is very nearly toothless and utterly outmatched by an investment culture that views it with the same annoyance and a wink as do children when they consider the importance of the hall monitors at their elementary schools.
Government is not doing its job and it's every man for himself. You must carefully scrutinize how you invest and read every contract to the last line. There is no one else watching out for you.
