By Bob Gaydos
I don’t know whether Jon Stewart believes that there is such a place as heaven. If there is, however, the TV comedian/talk show host has earned a reserved seat there, with free forever popcorn refills, on the basis of his on-air de-pantsing of TV financial expert/comedian Jim Cramer.
Bluntly, Stewart ate Cramer for lunch, delivering a lesson in ethics, morality and responsibility in addition to basic journalism. It is something long overdue on cable television, which has steadily whittled away at the craft’s professionalism and credibility with the introduction of every so-called news show or news commentator given air time. As Orwell put it, in this case, more has definitely been less.
If you missed it, the Stewart/Cramer mismatch came about because of the comedian’s hilarious and insightful skewering of CNBC’s “coverage” of the nation’s financial news, with a special focus on its failure to recognize the coming economic meltdown and its continuing refusal to accept responsibility for sloppy, shoddy reporting that may well have added to viewers’ money problems. Cramer, as the most recognizable
face of the network, was Stewart’s primary target. Booyah!
Notwithstanding, Stewart pointed out instance after instance in which the financial guru gave erroneous buy or sell advice on stocks of big corporations that were about to implode, taking investors’ money with them. The more Stewart needled, the more Cramer denied or rationalized answers and the more Stewart persisted.
Plus, he had the tapes. God bless the tapes. Every time Cramer said he didn‘t do this or that, Stewart had him on tape doing this or that. It was no contest. But what made it more than just another showdown for TV ratings was Stewart’s understanding of the severity of the situation, his concise explanation of it to Cramer and the viewers and
his lecture to Cramer and his colleagues at CNBC on their responsibility, as alleged journalists, to not just spout opinions and theories, but to actually check the facts they were being given by corporate CEO’s, on whom they relied heavily for their shows. As Stewart noted, when people are losing their homes, their pensions, their life’s savings, when they can’t find jobs, it is no time for lazy reporting or levity by so-called financial reporters. And to not think that CEO’s would lie to them to save their own financial butts?
Well, it struck Stewart speechless.
I’m perhaps not as surprised at this as Stewart. In fact, I think most of the new cable TV financial 'experts’ are more invested in honing their own images and careers than in good reporting and it makes them feel important to be seen joking around with and quoting corporate big shots. Checking to find out if the stories they were telling them were actually true could ruin their cozy relationship. Ego, ego, ego.
Anyhow, Stewart put this nonsense out there in full daylight and his efforts have even prompted some viewers to begin a write-in campaign to CNBC demanding an effort at responsible journalism from Cramer et al, while leaving the comedy to Stewart. This dose of skepticism in cable TV journalism is a healthy development, but given the lackluster performances of CNN and other cable news outlets, I’m still checking
out Stewart’s show daily for the real news.
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