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  #1  
Old 03-17-2009, 02:24 AM
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stundie stundie is offline
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Jon Stewart - Exposing CNBC and Jim Cramer

If you are not aware.....I

Jon Stewart of The Daily Show fame did a segment on the 4th March about CNBC. This was after Rick Santelli displayed his anger at "looser homeowners" who are going to get bailed out. Rick Santelli was due to appear on Jon STewarts show before he cancelled. The Daily Show highlighted that CNBC's commentators were clearly slanted in favor of the companies by reporting amongst many claims by stating that Merrill Lynch would not need capital, even though they have since received billions in bailout money. Jim Cramer the host of CNBCs Mad Money also claimed that "Your money is safe in Bear Stearns" six days before the global investment bank went under."

The segement can be viewed here for your entertainment.

Without an ounce of shame, Cramer defended himself in a column where he claimed that the clip was taken out of context and that he was simply reassuring a viewer that Bear Stearns was safe.

The Daily Show's responded with an apology for taking Cramer's comments out of context. "OK, I was wrong. So Jim Cramer, I apologize," Jon Stewart said, then showcased the video of Cramer suggesting the safety of Bear Stearns five days prior to the collapse. Jon Stewart stated, "He's not saying literally 'I'm asking you to buy Bear Stearns,' for that you have to go back a full seven weeks before the stock completely collapsed." and then showed additional footage of Cramer telling TheStreet.com TV viewers to specifically "buy Bear Stearns" stock 7 weeks before it collapsed.

On an additional note, on 5th February 2008, Jim Cramer changed Bear Stearns ratings on his website TheStreet.com.

The Daily Show segemnt can be watched here

For some reason, Jim Cramer in what I can only describe as the worse PR move ever, decides to go on to The Daily Show, ready to sock it too that smug Jon Stewart. He as his sleeves rolled up, so he is up for it!!

However, in what I can only describe as verbal sodomy, Stewart tears Jim Cramer a new one. This is the unedited interview in 3 parts....

Part 1
Part 2
Part 3

It is a shameful state of affairs when a comedy program like The Daily Show as to point out the failings of a channel whose job is to do investigative reporting on Wall Street, when the reality is that they have actually been spreading the lies and misinformation of the CEO's of these failed companies. lol

For those who like to see a shit squirm, enjoy......lol
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  #2  
Old 03-17-2009, 03:11 AM
Bobbo Bobbo is offline
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Anyone who goes on TV and picks stocks for idiots who use TV stock pickers as their source of investment information is to be beaten up when he is wrong? Get real.

The purpose of all TV shows is to generate revenue by selling commercials. Cramer's show is entertainment and nothing else. If he was so great at picking stocks he wouldn't need to earn a living on TV now would he? The correct answer is no, he would be living on his own private island in the Caribbean.

Find any TV "news" show, business news or otherwise, that is not presented with a slant towards the agenda of the owner, or owners. Can't do it. There is no such thing as "truth" or "fair and balanced" or "spin free" on TV when it comes to any subject with any sort of political link. Anyone who has not figured this out by age 13 needs help.

In case you haven't figured it out yet, CNBC is aligned with the right and the rich, or as Larry Kudlow likes to say "the investor class". Stewart is a liberal aligned with the socialists. Pelosi and Reid have made it quite clear that the left is fully engaged in class warefare against the rich. Stewart's attack on Cramer was just one more shot in their war.
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  #3  
Old 03-17-2009, 04:24 AM
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CNBS aligned with the right? Am I hearing this correctly? Last time we seen CNBC, it was backing the left wing people in politics this year. Its a left wing news organization.
I will agree that if you do take your advice from a TV program, you must be nuts enough, that is for sure.
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Old 03-17-2009, 04:52 AM
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Dragon, I don't know which CNBC you watch, but the one I watch is a channel dedicated to business interests. FOX may be a little to the right of CNBC in ideology, but I doubt you can find any group on TV or radio or in print that is more pro free market capitalism than CNBC. What the free market capitalist right wants is 180 degrees out from what the socialist left wants.
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Old 03-17-2009, 04:09 PM
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Left or Right...Who gives a shit??

Quote:
Originally Posted by Bobbo View Post
Anyone who goes on TV and picks stocks for idiots who use TV stock pickers as their source of investment information is to be beaten up when he is wrong? Get real.

The purpose of all TV shows is to generate revenue by selling commercials. Cramer's show is entertainment and nothing else. If he was so great at picking stocks he wouldn't need to earn a living on TV now would he? The correct answer is no, he would be living on his own private island in the Caribbean.

Find any TV "news" show, business news or otherwise, that is not presented with a slant towards the agenda of the owner, or owners. Can't do it. There is no such thing as "truth" or "fair and balanced" or "spin free" on TV when it comes to any subject with any sort of political link. Anyone who has not figured this out by age 13 needs help.

In case you haven't figured it out yet, CNBC is aligned with the right and the rich, or as Larry Kudlow likes to say "the investor class". Stewart is a liberal aligned with the socialists. Pelosi and Reid have made it quite clear that the left is fully engaged in class warefare against the rich. Stewart's attack on Cramer was just one more shot in their war.
I'm sorry but I do not see this as a battle between left & right. That is utter bullshit...lol

Mad Money is an entertainment program, but it is also a factual program and often gives advice (Some good/some bad) to people who are new or do not understand the stock market. You could argue you are an idiot for following a TV picker, but I am sure there are many people who have done well off the back of programs like Mad Money and Jim Cramer. If those who followed him were doing that badly, I do not think he would have a show for long.

Rick Santelli crying and blaming the looser home owners because the governement are kind enough to help out home onwers under the proposed Homeowners Affordability and Stability Plan is irony in the highest order considering the bail outs of these large companies. These companies are the the cause of this mess, and sound bites from people like Santelli does nothing but take away the responsibility and blame of those who allowed this crisis to happen and place it on the shoulders of others.

Its is not like you have to be a money expert to have seen this coming, I have no experience in finance, but from watching the over inflated house price rising year after year, much much higher than the rise in income, the alarm bells were ringing years ago.

Should CNBC have seen this coming...Of course they should, they were lying or being lied to about the subprime business being over, knowing that these companies still had lots of toxic debt.

Stewarts showdown is just a reflection of a general public attitude whether you lean to the left or right. What Stewart as shown, is that CNBC is avoiding its journalistic duty and becoming the public relations for the failed CEO's on Wall Street.

You know, the ones who helped us get into the recession we face today.

It appears that it takes a comedy program to highlight this glaring obvious problem.

The left and right argument is nothing more than a tactic employed by those on one side to defend themselves against criticism from the other.
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Old 03-17-2009, 04:46 PM
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Another point I want to add is about what Cramer reveals to Stewart.

The Daily Show found an online interview from Cramer in 2006, in which he clearly describes how he used to manipulate stock prices as a hedgefund manager by calling it a fun game.

Stewart replied to Cramer that finance is not a fun game and accused him of being part of a world of financial insiders that uses the retirement savings of ordinary people to capitalise their adventures and games. Cramer pleaded ignorance of course, saying his sources hadn't been honest with him but Stewart replied...."Honest or not, in what world is a 35 to 1 leveraged position sane?"

Cramer responded with "The world that made you 30 per cent year after year after year beginning from 1999 to 2007."

And there it is, the cold reality...GREED!!

When the good times roll and the money is coming in thick and fast, not even those in the know dare question whether such leverage is sane or responsible.
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Old 03-17-2009, 05:28 PM
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I know it does not matter if they were right or left, but I wanted to point out the fact that news organization is controlled by a left wing parent company, that is all.

As to the point of making the excuse that he was a legit economic advisor, now that is a joke. He has no interest in making you suceed or not, a true advisor would want his client to succeed. One reason why TV "advisors" should not be taken with a grain of salt.

The fact of the matter is in todays society everyone gets the impression that when you fail, the government will be there to save your butt(hence meaning actually the rest of us tax payers). I personally think this news agency and others are actually lying to us consumers when they give "advice".
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Old 03-17-2009, 05:42 PM
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Spoken like a true socialist stundie. Avoid personal responsibility at all costs. There must always be someone else to blame for your mistakes. And of course you want the government to do something to make you whole again, sort of like a bailout.

If you put money in the stock market without knowing what the market was about you were about as smart as someone who put down a bet on the craps table without knowing anything about the game. Just because you see lots of folks making money at the craps table is no reason for you to believe you can make money there too.

Anyone who pissed away their money in the stock market has no one to blame but themselves. The vast majority of people who lost money in the market were not investing, they were gambling. Investing requires due diligence, but, unfortunately for the socialists, that means one has to be responsible for his own actions.
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Old 03-17-2009, 05:52 PM
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Quote:
Originally Posted by Dragon View Post
... As to the point of making the excuse that he was a legit economic advisor, now that is a joke. He has no interest in making you suceed or not, a true advisor would want his client to succeed. One reason why TV "advisors" should not be taken with a grain of salt.
...
You are right about the joke. Fact is the joke is on the idiots who play the market without knowing what they're doing.

Here is a little advice for everyone who has money to invest: everyone else is your enemy in the market. Believe it. It may be the best piece of advice you ever get. Especially your broker or anyone else who will get paid in any way because of your investing. The one and only object of being in the market is to make money. The only time anyone makes money is when they make money, not when you make money.
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Old 03-17-2009, 06:45 PM
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Quote:
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Spoken like a true socialist stundie.
Oh really...lol

Quote:
Originally Posted by Bobbo View Post
Avoid personal responsibility at all costs.
Do I??

So please explain how am I responsible for the current economic climate and avoiding personal responsibility at all costs?
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Originally Posted by Bobbo View Post
There must always be someone else to blame for your mistakes.
So it is my mistakes that have caused the current economic climate?? lol

Maybe Jon Stewart should have had me on his show instead of Cramer!
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And of course you want the government to do something to make you whole again, sort of like a bailout.
Is this some kind of riddle? What do you think I want the government to do that is sort of like a bailout?
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Originally Posted by Bobbo View Post
If you put money in the stock market without knowing what the market was about you were about as smart as someone who put down a bet on the craps table without knowing anything about the game. Just because you see lots of folks making money at the craps table is no reason for you to believe you can make money there too.
Yes, the stock market is a gamble and I'm not really a gambling man.

Luckily I have never traded in stocks, the little amount of money I have is made from hard work.

Shit...I must be a socialist...lol
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Anyone who pissed away their money in the stock market has no one to blame but themselves.
But what about those who are not trading in the stock markets, you know, those with pensions and 401K whose money was used to trade in stocks which they have now lost.

Have they no one else to blame but themselves?
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The vast majority of people who lost money in the market were not investing, they were gambling.
Not just gambling, but pissing away theoretical money and captial reserves.
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Investing requires due diligence, but, unfortunately for the socialists, that means one has to be responsible for his own actions.
So could you explain why no one is being held resposible for their own actions which created this mess?

Or is being responsible for ones actions only applicable to socialists?
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Old 03-17-2009, 07:35 PM
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  #12  
Old 03-17-2009, 08:08 PM
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Is agreeing with Dragon wrong....No, not when he is right.

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Originally Posted by Dragon View Post
I know it does not matter if they were right or left, but I wanted to point out the fact that news organization is controlled by a left wing parent company, that is all.
That maybe true Dragon as I don't know much about who controls these organisation.

But left or right?

It doesn't really matter to the point that Jon Stewart and The Daily Show were making, regardless of how it is spun as a political attack. It is clearly an attack on those who are suppose to report and have knowledge of business, stocks and finances who knew what was going on and then when it blew up, pretend they never saw it coming.
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As to the point of making the excuse that he was a legit economic advisor, now that is a joke.
All I am saying is that he was a hedge fund manager, he must have been doing something right to go from hedge fund manager to appearing on TV as a pundit....Unless he is a bullshiter?? I do not know that much about Cramer, so do not think I am saying he is legit, or that anyone should take his advice.

I'm sure when CNBC commission his program, they had to put a presenter who knew what he was talking about for them to front a show about the world of stocks and finance..............err......Actually on 2nd thoughts, based on what I now know of CNBC....I take that back....Silly me!

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Originally Posted by Dragon View Post
He has no interest in making you suceed or not, a true advisor would want his client to succeed. One reason why TV "advisors" should not be taken with a grain of salt.
You are right, see we can agree on something. Although I'm sure some people have taken his advice and done well too, otherwise is program wouldn't be popular.
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The fact of the matter is in todays society everyone gets the impression that when you fail, the government will be there to save your butt(hence meaning actually the rest of us tax payers).
Interesting to hear you say that Dragon, so what should happen if we decide the government should stop saving there butts?

Or should I say people like you and me. lol
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I personally think this news agency and others are actually lying to us consumers when they give "advice".
This is some kind of record.....lol I'm agreeing with you again Dragon.

I wouldn't say every news agencies and others are lying to us, but sometimes the truth comes spread with a bit of bullshit.

Catch the metaphor.

Cheers

Stundie
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Old 03-18-2009, 03:15 AM
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.... Maybe Jon Stewart should have had me on his show instead of Cramer!
No, if he was really interested in pointing a finger at the real culprits, he would have explained how the Congress was, and is, responsible for the mess. The origins of the housing bubble - bills passed by Congress - and unregulated financial instruments - lack of regulatory action by Congress - have been reported in the media, but not nearly widely enough. The bailouts speak for themselves - more wrong actions by Congress. Of course a left winger is not about to point a finger at a Democrat Congress, especially when we have a socialist President.

BTW I voted for him. I think it is sad that he has never been able to get control of his party. Pelosi and Reid have an agenda and they are not going to let a little thing like a President stand in the way of getting their way. Obama will be a one-term President. Unfortunate. He is a smart guy. If he had been allowed to govern as a centrist he might have done some good things. His own party has defeated him.

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Yes, the stock market is a gamble and I'm not really a gambling man.
Glad to hear you recognize the market for what it is. I do both, but not to excess. Actually I'm way ahead at the craps table over the last 25 years. Craps is a game of statistics, not luck. It is also the game where the house has the least advantage - less than 2% if you do it right. I believe average Joe Shmuck has a better chance of winning at the craps table than he does in the market, especially if he learns the game first. At least the house isn't cheating and manipulating the outcome in craps. Both are rampant in the market.

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But what about those who are not trading in the stock markets, you know, those with pensions and 401K whose money was used to trade in stocks which they have now lost. Have they no one else to blame but themselves?
Nope. Everyone has the opportunity to put 401K money where they will. Shame on those who made bad decisions in their 401K and/or IRA. Pension funds are different. The people running them have a fudiciary responsibility. Unfortunately they are usually connected at the hip to the authority that could prosecute them for their misdeeds, so they will not be held accountable. Shame on those who depended solely on a pension fund for their retirement. When Social Security goes belly up in a few years I'll be saying shame on those who counted on it alone and had no other retirement funds. Social Security has always been nothing more than a government enforced chain letter. Chain letters never work, except for the first few rounds. We're just about there now.

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So could you explain why no one is being held resposible for their own actions which created this mess? Or is being responsible for ones actions only applicable to socialists?
Those who make the decisions on who has to suffer are rarely the ones to suffer. Congress is responsible. They are certainly not going to investigate themselves. They already know where the problems came from. They know which closets the skeletons are in.

Most of the people who game the system, like the hedge funds, do so within the laws. Name of the game in the market is making money. Doesn't matter how you do it as long as you stay within the law. The ones who make the most money win. Maybe it's not nice, but as long as it's legal it's the way the game is played. Those who can't handle that shouldn't be in the game. Those who strayed outside the law are being prosecuted, albeit at a very slow pace.
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Old 03-18-2009, 03:30 AM
Bobbo Bobbo is offline
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I know it does not matter if they were right or left, but I wanted to point out the fact that news organization is controlled by a left wing parent company, that is all.
...
GE is not what I would call a left wing company.
CNBC is part of NBC Universal
See:

http://www.nbcuni.com/About_NBC_Univ...pany_Overview/

From the above link:

"Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi."
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Old 03-18-2009, 07:38 AM
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Quote:
Originally Posted by Bobbo View Post
GE is not what I would call a left wing company.
CNBC is part of NBC Universal
See:

http://www.nbcuni.com/About_NBC_Univ...pany_Overview/

From the above link:

"Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi."
Well I do. Their coverage of Obama was outragious and was full of fluff and hardly NO coverage of his disadvantages as a candidate. They did what they could to make he look good. The fact that he allows for such biased media coverage by one of his companies should be plainly obvious. The fact that we have people like Keith Olbermann, Chris Matthews, and Rachael Maddow and more. Point is This news organization which is owned by GE is a biased left leaning organization. Just like Fox News is right leaning.
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