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http://finance.yahoo.com/techticker/article/208063/Cramer-vs.-Stewart:-Post-Fight-Analysis
Cramer vs. Stewart: Post-Fight Analysis
Posted Mar 13, 2009 05:07pm EDT by Aaron Task in Newsmakers, Banking
Related: TSCM, VIA, JPM, BAC, WB, ^DJI, ^GSPC
A week-long verbal battle between cable TV personalities Jon Stewart and Jim Cramer came to a head on The Daily Show Thursday night. By nearly all accounts, Stewart won in a unanimous decision, if not a knockout:
"Cramer was playing rope-a-dope while Stewart swung away," writes Washington Post columnist Howard Kurtz. "Jim seemed more concerned with being liked than justifying what he does for a living. It was a mismatch."
Some other items of note:
While eager to admit some mistakes, Cramer defended himself (in part) by saying Wall Street CEOs such as Dick Fuld lied to him and (by extension) other CNBC personalities. "I had a lot of CEOs lie to me on the show," he said, suggesting former Bear Stearns and Wachovia executives also misled him.
Stewart's populist rants often got in the way of any real conversation, and Cramer rarely has been at such a loss for words. Stewart tapped into the anger many Americans are feeling toward Wall Street and the financial media, given the ongoing bailout bonanza and the decimation to our collective portfolios: Americans' total wealth fell 18% in 2008, according to the Fed, the biggest annual loss since they started tracking the data after WW2.
Stewart said repeatedly his issue was with CNBC generally, not Cramer personally. But it sure seemed like Stewart's attack was directed at Cramer. (Of course, Cramer was sitting there and further invited attack by sarcastically dismissing Stewart earlier in the week.)
Speaking of the personal, I made a cameo appearance on 'The Daily Show' last night when Stewart showed clips of a segment I filmed with Cramer for TheStreet.com back in 2006. (Full disclosure: I worked for TheStreet.com, which Cramer co-founded, from 1998 to 2007. The company and Cramer were good to me and I still own some shares, much to my dismay.)
In the clip, "Cramer explained how traders gamed the system and seemed to say he had used such techniques in his Wall Street days," as Kurtz writes. There was a minor flap about the segment back in early 2007 and it's certainly received a lot of attention this week.
On The Daily Show, Cramer said he was speaking hyperbolically and denied having done those things personally. "I didn't do it," he said.
While I have no doubt Cramer pushed the envelope before he got out of the hedge fund business in 2000, I had assumed the same during the "infamous" video. I believed he was speaking hypothetically and trying to call attention to what hedge fund managers were doing then versus what he had done five-plus years prior.
Of course, that was my mistake because journalists (especially) should never assume. For when you assume...
Cramer vs. Stewart: Post-Fight Analysis
Posted Mar 13, 2009 05:07pm EDT by Aaron Task in Newsmakers, Banking
Related: TSCM, VIA, JPM, BAC, WB, ^DJI, ^GSPC
A week-long verbal battle between cable TV personalities Jon Stewart and Jim Cramer came to a head on The Daily Show Thursday night. By nearly all accounts, Stewart won in a unanimous decision, if not a knockout:
"Cramer was playing rope-a-dope while Stewart swung away," writes Washington Post columnist Howard Kurtz. "Jim seemed more concerned with being liked than justifying what he does for a living. It was a mismatch."
Some other items of note:
While eager to admit some mistakes, Cramer defended himself (in part) by saying Wall Street CEOs such as Dick Fuld lied to him and (by extension) other CNBC personalities. "I had a lot of CEOs lie to me on the show," he said, suggesting former Bear Stearns and Wachovia executives also misled him.
Stewart's populist rants often got in the way of any real conversation, and Cramer rarely has been at such a loss for words. Stewart tapped into the anger many Americans are feeling toward Wall Street and the financial media, given the ongoing bailout bonanza and the decimation to our collective portfolios: Americans' total wealth fell 18% in 2008, according to the Fed, the biggest annual loss since they started tracking the data after WW2.
Stewart said repeatedly his issue was with CNBC generally, not Cramer personally. But it sure seemed like Stewart's attack was directed at Cramer. (Of course, Cramer was sitting there and further invited attack by sarcastically dismissing Stewart earlier in the week.)
Speaking of the personal, I made a cameo appearance on 'The Daily Show' last night when Stewart showed clips of a segment I filmed with Cramer for TheStreet.com back in 2006. (Full disclosure: I worked for TheStreet.com, which Cramer co-founded, from 1998 to 2007. The company and Cramer were good to me and I still own some shares, much to my dismay.)
In the clip, "Cramer explained how traders gamed the system and seemed to say he had used such techniques in his Wall Street days," as Kurtz writes. There was a minor flap about the segment back in early 2007 and it's certainly received a lot of attention this week.
On The Daily Show, Cramer said he was speaking hyperbolically and denied having done those things personally. "I didn't do it," he said.
While I have no doubt Cramer pushed the envelope before he got out of the hedge fund business in 2000, I had assumed the same during the "infamous" video. I believed he was speaking hypothetically and trying to call attention to what hedge fund managers were doing then versus what he had done five-plus years prior.
Of course, that was my mistake because journalists (especially) should never assume. For when you assume...
16/3 2009 13:03 NIKE1 04684 Ved ikke hvorfor alting fryser når jeg forsøger i den anden tråd.
Dette var en test og det virkede åbenbart.
Dette var en test og det virkede åbenbart.
16/3 2009 13:09 Administrator 04686 Det gør ikke noget. En tråd med mange svar kan stå og loade nogle sekunder. Så det kan være det kombineret med at vi p.t. oplever meget stor trafik på siden.
Vi arbejder på højtryk for at løse det så siden bliver hurtigere.
Vi arbejder på højtryk for at løse det så siden bliver hurtigere.
