On Fri, Mar 13, 2009 at 2:45 PM, Kevin M. <[email protected]> wrote: > On Fri, Mar 13, 2009 at 2:10 PM, PGage <[email protected]> wrote: >> I was prepared to be my entire 401k that Cramer was going to >> accuse Stewart of taking that video out of context in some way. > > He did... just not on the show: > > http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart > > "Take Frank Rich and Jon Stewart. Both seize on the urban legend that > I recommended Bear Stearns the week before it collapsed, even though I > was saying that I thought it could be worthless as soon as the > following week. I did tell an emailer that his deposit in his account > at Bear Stearns was safe, but through a clever sound bite, Stewart, > and subsequently Rich -- neither of whom have bothered to listen to > the context of the pulled quote -- pass off the notion of account > safety as an out-and-out buy recommendation. The absurdity astounds > me. If you called Mad Money and asked me about Citigroup, I would tell > you that the common stock might be worthless, but I would never tell > you to pull your money out of the bank because I was worried about its > solvency. Your money is safe in Citi as I said it was in Bear. The > fact that I was right rankles me even more. I never said the same > thing about Lehman, where your accounts weren't safe. I expect a > skewering from the comedian Stewart. I was shocked, however, that the > rigorous Rich wouldn't investigate further and relied on the show's > truncation of the truth. After all, how many times were the pull > quotes from reviews by Rich used against him when he may have been > panning a play in his former role as entertainment critic?"
No, he didn't. This quote you give above is in reference to a different clip that JS had used from Cramer's TV show earlier in the week. Stewart addressed Cramer's response a couple of days ago on TDS. JS acknowledged the point - then showed a series of clips in which Cramer *did* give an out and out buy recommendations. It was devastating - and I think it was the exact point in the week at which Cramer and the CNBC flacks decided to stop fighting and just take their spanking. I was referring to a different video. What JS used in his interview with Cramer last night was not from his television program, but from an interview on TheStreet.com. In it Cramer talks candidly, and very soberly (not his usual clown act) about how he used to manipulate the market when he was a hedge fund manager. You can see the video here: http://apple20.blogs.fortune.cnn.com/2009/03/13/stewart-slams-cramer-with-apple-video/ What was particularly effective last night was when JS scolded Cramer for having manipulated the market when he was a hedge fund manager, and Cramer said: "I never did that, I was pointing out how other people manipulated the market" then JS said something like "that's interesting - pull up #20" and they went right to the clip of Cramer saying on the video "I used to manipulate the market all the time when I was a hedge fund manager". When they cut back to the live Cramer, he looked very uncomfortable and just said something like "well that was sloppy communicating, I meant when other people did that". That is also what I meant about Cramer not seeming to be prepared. The link above notes that TheStree.com footage is well known on the web (Cramer is talking a lot about how he would profit from selling Apple short in advance of the i-phone announcement). Cramer should have known JS was going to use this video and been prepared with something better than the lame-ass lie "I didn't manipulate the market myself". --~--~---------~--~----~------------~-------~--~----~ TV or Not TV .... Smart (TV) People on Ice! You received this message because you are subscribed to the Google Groups "TV or Not TV" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/tvornottv?hl=en -~----------~----~----~----~------~----~------~--~---
