When Jon Stewart eviscerated Jim Cramer for not doing a better job of warning Americans about the looming financial crisis, the "Mad Money" host should have brought videos and transcripts of some of his highly-publicized rants in order to thoroughly disprove the comedian's premise.
In fact, as former investigative reporter turned actor and producer Dan Gifford revealed at Big Hollywood Sunday, Cramer should have wiped the floor with Stewart and put an end to all the CNBC bashing.
For instance, the "Mad Money" host could have shared with Stewart's audience this tirade from August 2007 (video embedded right):
Why didn’t Cramer point out the video clip that got played ad nauseum on practically every network of him screaming about impending doom in the financial markets on August 3, 2007 before the market bear took hold?
“He [Federal Reserve Chairman Ben Bernanke] has no idea, and these firms are going to go out of business and he’s nuts, they’re nuts! They know nothing!!!!” (about the Fed not injecting liquidity into the system).
Gifford was so right to bring this up. Here's more of what Cramer said that day:
I have not seen it like this since I went 5 bid for a half a million shares of Citigroup and I got hit in 1990. This is a different kind of market, and the Fed is alseep...You can't get a darned loan if you're rich like me...We have Armageddon. I wouldn't try to (inaudible), we have Armageddon. In the fixed income markets, we have Armageddon...Okay, well let them be calm, and have them call me on the way home like they do every night and tell me, "Cramer, what are you going to do about it? Are you gonna help us? Are you gonna help us, or are you gonna stand on the sideline like everybody else and say that it's fine? Will somebody come on TV and tell the truth about how bad it is?"
Well, on August 3, 2007, Cramer did. How prescient was he? See for yourself (chart courtesy BigCharts.com):
On that day, the S&P 500 closed at 1433. A few weeks ago it bottomed at 667, and is currently at 769.
But, as Gifford pointed out, that wasn't Cramer's only good call:
Why didn’t Cramer talk about his October 5th, 2008 advice on the “Today Show?”
“Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe you should risk those assets in the stock market.” (stock market 30% off its highs?)
For the record, this statement of Cramer's was made on Monday, October 6, before the markets opened in New York. The S&P 500 closed the previous Friday at 1099.
But there's more:
Or this one from October 20, 2008?
“Stop trading these two stocks (Fannie Mae and Freddie Mac) … this is an outrage … It’s very clear that someone knows what’s happening (and isn’t telling the public).
Why didn't Cramer bring up any of these documented statements when he was being lambasted by Stewart?
Gifford doesn't know, but his piece is well worth the read to be able to watch all the video clips Cramer should have brought with him ten days ago.
—Noel Sheppard is the Associate Editor of NewsBusters. Follow him at Facebook and Twitter.




















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Cramer is a tool
March 22, 2009 - 18:27 ET by SterlingOh my when will you right-wingers give up this debate about Cramer vs. Stewart? Get over it Stewart cleaned Cramer’s clock. Now we see articles written about what should have been “said”. This whole article reminds me of the Jerkstore episode of Seinfeld. Ridiculous…
You missed the point!
March 22, 2009 - 19:05 ET by robert108You missed the point! Stewart, like most leftie smear merchants, only cherry-picked Cramer's statements, to give a false impression. Whether or no Cramer said the whole truth, it's there, and this article proves it. Cramer was incompetent in his own defense, but that doesn't make Stewart right.
Ridiculous??
March 22, 2009 - 19:06 ET by brerolWhat is so ridiculous about pointing out the truth backed with facts. In this case video facts. The videos don't lie. So accept them and then ask yourself if the likes of Senator Dodd and Congressman Franks would get the same grilling from Stewart as Cramer did. Considering Stewarts liberal leanings I doubt it. And the public doubts it.
Ridiculous??
March 22, 2009 - 19:06 ET by brerolWhat is so ridiculous about pointing out the truth backed with facts. In this case video facts. The videos don't lie. So accept them and then ask yourself if the likes of Senator Dodd and Congressman Franks would get the same grilling from Stewart as Cramer did. Considering Stewarts liberal leanings I doubt it. And the public doubts it.
Hello Ster
March 22, 2009 - 19:19 ET by jdlybrandI believe it's proper for people who've made mistakes to look back at what could have been done better. That's why coaches go over game film. As for Cramer; his biggest mistake was going on the show and giving credance to a freaking comedian on a faux news show. And, pray tell; when will you left-wingers give up on blaming everything on GW and accept some responsibility as well? I won't hold my breath waiting. Enjoy the Merlot... my Bud Light tastes great.
When will liberals give up
March 22, 2009 - 19:34 ET by MANstreammediaWhen will liberals give up on inane pseudodebate that involves more emotional yelling than thinking?
Actually, it was "ridiculous."
March 22, 2009 - 19:39 ET by Mike BrattonAnd the only way Jon Stewart can "clean" someone's "clock," as Jim Cramer illustrated, is for the recipient to stand completely still, refuse to counter, and otherwise offer precisely no defense.
Did you watch the videos, "Ster"? "Oh, my," indeed. What, are you Dick Enberg?
--Mike
www.thebrattonreport...
"What are you, Dick Enberg"?
March 22, 2009 - 19:54 ET by jdlybrandDrop the Enberg and I think you have it right.
Sterling
March 23, 2009 - 08:20 ET by ApacheLook at my post below. Stewart edited the interview to look like he "cleaned Cramer's clock". He gave it the ol' Michael Moore treatment. You can't really complain about Rush or anyone else if your source for news is a clown.
The truth is, Cramer is
March 22, 2009 - 19:07 ET by robert108The truth is, Cramer is being attacked for telling the truth about Obama's record destruction of American wealth; Stewart was just trying to distract from that by changing the subject, and not even telling the whole truth about that, either.
Stewart is a dork
March 22, 2009 - 19:33 ET by jondelwicheHe isnt funny. Has a tiny mind-numbed audience.
No class, and really no talent based on his Hollywood career.
As usual, all the "media reviews" are simply lapdogs propping up their boy.
W "lost" all his debates according to the pundits, but won the Presidency twice.
Cramer has class, Stewart has none;
Sterling has lost his luster......
jondel
March 22, 2009 - 19:41 ET by well99"Oh my when will you right-wingers give up this debate about Cramer vs. Stewart? Get over it Stewart cleaned Cramer’s clock."
As far as Sterling maybe he can answer when will the left wing start useing the truth.Not anytime soon I am sure.I agree on Steward he is the left's darling not because of talent but because of his ability to parrot their message.He has always been a hypocrit.
Cramer's a smart guy. so you have to ask, as you did:
March 22, 2009 - 19:39 ET by CKA in Red State USAWhy didn't he bring up anything to counter Stewart?
What are the larger at-play factors that prevented him?
Jon Stewart Derangement Syndrome
March 22, 2009 - 19:58 ET by SterlingOh it seems that you right-wingers cannot grasp my point, I suppose I will have to dumb it down for some of you… as I sip my sassy little Bordeaux. You see I believe some on the right are now full blown in their Jon Stewart Derangement Syndrome. It seems that a very old news story that the rest of the country has gotten over is still be regurgitated by the lunatic fringe… they seek to destroy Jon Stewart and his rising star as the voice of reason in America.
If Mr. Cramer was as smart and talented as some have argued; then why did he not bring up his so called warnings? Oh, I am sure some will come up with a conspiracy theory about how Cramer had to sit there and take a verbal beating from Stewart because of some cabal dealing with the Elite Liberal Media, Skulls and Bones Society, The Free-Mason, and the Catholic Church; but in all reality he did not defend himself because he is either 1) Incompetent- and should not be giving out advice on finance (oh I did just love Cramer when he was on The Apprentice) or 2) His actions where indefensible.
My friends, your Jon Stewart Derangement Syndrome has led so many rational people to defend this scoundrel and knave. Look at reason, what has Jon Stewart done, but merely tell a few jokes and point out the hypocrisy of those in power. This is getting out of control.
Sterling must be drinking too much sassy wine
March 22, 2009 - 20:12 ET by jondelwiche304 of the 305 million Americans are oblivious to Stew-tard's (an Obama joke) show or views. As well99 aptly states, it is the media elite that will highlight his comments because he parrots their views.
Stew-tard is a deadender, no talent, no viewership.
Didnt he even do a oscar type show that broke LOW viewership ratings for that show?
I've watched him, funny is NOT the word that comes to mind.
Smug or pretentious does.
Again, Cramer is classy, end of story.
SDS, to funny,
March 22, 2009 - 20:13 ET by general company… they seek to destroy Jon Stewart and his rising star as the voice of reason in America.
This is funny, he is probably worst then Obama off the teliprompter, he had to take time off during the writers strike. BTW Levin wants to debate him, so he can make a fool of him, seriously.
"Television is a freak show" Bernie Goldberg
Levin wants to debate him, so he can make a fool of him, serious
March 22, 2009 - 20:19 ET by botgnow that would be worth the admission price
"Outside of a dog a book is man's best friend,------------inside a dog it's too dark to read" ---Groucho
Mark Levin = 3rd Rate Propagandist
March 22, 2009 - 20:35 ET by SterlingOh please… Stewart would destroy Mark Levin. All Levin does is scream and yell… I personally think that he is an angry little bald man with a Napoleon Complex. Levin would go off on his little angry rant and Stewart would just destroy Levin’s credibility (If he has any left). I personally find Colbert far more entertaining- especially that whole show where he mocked Glenn Beck… Oh the girls at the office talked about that for two whole days.
And you are a third-rate troll
March 22, 2009 - 20:44 ET by R D HelmI have seen 12yo pot heads do better than you in here.
Levin would eat Jon's lunch in a debate.
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Creepy
March 22, 2009 - 20:46 ET by Sterling"I have seen 12yo pot heads do better than you in here."
Egads Sir! You hang out with 12 year old pot heads! Oh, here I thought you right-wingers were against corrupting the youth with their long hair and Rock’n’ Roll. A very troubling post indeed.
Please
March 22, 2009 - 20:50 ET by UnsanePlease. I am as Rightist as they come on NB and jam to endless amounts of heavy metal. Today I have been in a mood for Meshuggah and Slayer.
For countless reasons I wouldn't dream of sampling "the hippie lettuce" (h/t to Jim Rome) though.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Barbarian Music
March 22, 2009 - 21:05 ET by Sterling"Today I have been in a mood for Meshuggah and Slayer."
Ugh… So that explains it. Yes, I think I will stick to Wagner and Bach what a bunch of barbarians. I thought all you right wingers were Toby Keith fans or Trans- Siberian Orchestra ( Does not Rush always talk about how they are the greatest band of all time? Talk about bad taste) ; you learn something every day.
Barbarian music is what you hear blaring from Mosques
March 22, 2009 - 21:20 ET by R D Helm-Dave
This coup has gone on long enough. The time to put it down is NOW.
Good evening Sterling
March 22, 2009 - 21:26 ET by cocodrieAppreciation for types of music is in the ear of the listener just as beauty is in the eye of the beholder. How intolerant you appear to be.
Beware the barbarians are at the gate.
Jesus Loves You
What pretentious elitist snobbery
March 23, 2009 - 01:16 ET by UnsaneAh yes...Wagner. You can have Hitler's favorite composer.
what a bunch of barbarians Snobbery gets you nowhere. I happen to enjoy a little Mozart and Stravinsky on the side. I also have a huge thing for Tchaikovsky. But because I am not a pretentious elitist snob, I am just as comfortable entering the pit in a t-shirt and jeans as I am Jones Hall in Houston in a suit and tie.
Oh, and I can't tolerate country music. And I am a native of TX, at that! (I see more stereotypes rooted in ignorance coming somehow...)
Trans- Siberian Orchestra ( Does not Rush always talk about how they are the greatest band of all time? Talk about bad taste) Once more, you demonstrate you do not ever listen to Rush Limbaugh. Will you please educate yourself just a LITTLE bit before you stick your foot fully inside your mouth?
If he has played a single note of TSO on his show, I haven't heard it.
you learn something every day Not in your case.
Once again I take those stupid stereotypes you hold and pop them effortlessly like balloons...
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Mannheim Steamroller
March 23, 2009 - 13:36 ET by SterlingTSO, Mannheim Steamroller what is the difference; ghastly music is still ghastly music.
More snobbery
March 24, 2009 - 08:55 ET by UnsaneTSO: primarily driven by guitars and symphonic elements.
Mannheim Steamroller: Synth driven.
But indeed, what IS the difference? Elitist snobbery is still elitist snobbery...
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
You apparently haven't listened to Levin.Or if you have . . .
March 22, 2009 - 20:42 ET by CKA in Red State USA. . .you listened through the liberal/leftist/Obama super-filter that takes sentences and thoughts, processes through Obama's un-teleprompted mind and them spits out whatever chaos that's created.
Stewart would destroy Levin, though?
Perhaps on the scale of entertainment, perhaps.
But, then, entertainment's the hallmark of the Obama administration and the advocacy/adversary media.
Their content and its credibility are like the Platte River: A mile wide and an inch deep.
Right Wing Boobs
March 22, 2009 - 20:55 ET by SterlingSir, I listen to all the right- wing programs on the radio that I can catch. Rush by far is the most superior propagandist, then Savage, then Hannity, then Gibson, then Levin, and then finally Beck (by far the worst of the bunch- what a cry baby). I will not even list O’Reilly- he sounds like a eunuch on the radio.
"I will not even list
March 22, 2009 - 22:22 ET by ckc1227"I will not even list O’Reilly- he sounds like a eunuch on the radio."
So he was right....you don't listen. O'reilly has been off the radio for about a month now.
More lying
March 23, 2009 - 01:21 ET by UnsaneActually, you do not. At least you don't listen to Rush. If you did, you wouldn't have made that stupid comment above about Trans-Siberian Orchestra, among other comments that reveal you simply do not listen to his show.
Beck's crime is not that he is a crybaby but that he's an economics idiot. I do not understand the fascination with him (though he does have the occasional kernel of wisdom).
O'Reilly is not a conservative but a Right-leaning populist. There is a difference. You won't find too many fans of his here on NB.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
What a joke
March 22, 2009 - 20:47 ET by UnsaneAll Levin does is scream and yell… I personally think that he is an angry little bald man with a Napoleon Complex. You clearly have not heard him in person. Where I saw him, he did not raise his voice once. And he is drop-dead funny. You won't think so because 1) you are a Leftist and Leftists have no sense of humor and 2) because you are a extremely hate-filled little man who cannot enjoy life or really much anything else, as you have demonstrated elsewhere.
First you blast Limbaugh when you do not listen to his program; and now you blast Levin even though you clearly have not heard him. At least do some homework before you post. That way you might have some shreds of credibility.
And Stewart would be shredded by Levin. If Stewart thinks he can handle Levin, he can invite Mr. Levin on his show. I doubt he will.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
"Oh please… Stewart would
March 22, 2009 - 22:18 ET by ckc1227"Oh please… Stewart would destroy Mark Levin."
Not even if his writers aren't striking at the time, lol.
Stewart, a "voice of reason in America"?
March 22, 2009 - 20:47 ET by CKA in Red State USAOK.
I guess in the alternate universe, the Alice-in-Wonderlandness reality in which Demockacrats/Dementocrats, liberals and leftists exist, he is a voice of reason.
Just as Jeremiah Wright is a voice of racial harmony and the Gospel of Christ.
Just as Timothy Geithner is the model of individual responsibility for paying one's taxes.
Just as . . .
Sterling
March 22, 2009 - 20:36 ET by well99Apparently you missed the Cramer vs Steward Daly show. Steward wasn’t joking and all he did was cherry pick video to use against Cramer. Now this will be difficult for you. Did Steward come down on Cramer before Cramer made his comment about Dear Leader? The answer is no. Steward took offense to someone criticizing the Chosen One. If you notice the videos show they were from previous years. Gee funny how Steward doesn’t think to lay the smack down on Cramer till he says something about Obama.
http://www.youtube.com/watch?v=dwUXx4DR0wo
Funny how Steward didnt mind nailing Bush all the time.Dont you dare attack Obama.
http://www.youtube.com/watch?v=jeILW5T0E3M&feature=related
Sterling Idiot
March 23, 2009 - 05:35 ET by Sergeant ROCK.. they seek to destroy Jon Stewart and his rising star as the voice of reason in America.
You can always count on this fool for the dumbest comments.
"I ask, Sir, what is the militia? It is the whole people. To disarm the people is the best and most effectual way to enslave them."
George Mason
The Obamanazis got to Jim Cramer somehow
March 22, 2009 - 20:41 ET by R D HelmHe caved in like a $5 tent:
http://www.rushlimba...
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Stewart = Moore
March 22, 2009 - 22:24 ET by ApacheApparently Cramer did fight back more than what appeared on the show that aired and it was edited out. A longer version was posted on the Comedy Central website that showed Cramer being applauded by the audience at times. The segment got the Michael Moore treatment and Stewy renewed his folk hero status to the far left for throwing an Obama supporter under the bus for going astray.
And for those crying about the support Cramer is getting from some of us, it's not about Cramer's ideology. We tend to help anyone who starts to see the matrix and help them decide to take the red pill. The Daily show is a sapient program integral to the Matrix itself. You think you're getting the news in a cherry flavor but you are getting nonsense and spin from a clown.
From this point out, I'll stop watching matrix movies before I go to bed.
http://pajamasmedia.com/blog/its-time-for-jon-stewart-to-stop-hurting-america/
From the link:
-quote-
The video shows that The Daily Show heavily cut out information that would have made Cramer a more sympathetic figure to Stewart’s liberal audience, including:
These tidbits, plus Cramer’s attempts to logically explain the whys and hows of financial network reporting, didn’t make it on the show.
-end quote-
Apache
March 23, 2009 - 01:39 ET by well99Thanks for the link.I knew there was some creative editing but thought it was Stewards vids of Cramer.
cramer's rant
March 22, 2009 - 22:37 ET by traderjameswell duh...I admit that I am a new 'commenter', but I made this point in a comment on another article, about Cramer's rant with Erin Burnett in her giraffe dress. He was made fun of back then because it was on live tv, totally unexpected, and nobody believed him. He makes bad stock calls on a regular basis, but his overall take on the financial system is spot on, and continues to this day.
Why did he take a dive on that show? Guilt, perhaps. I was shocked and disappointed when i saw it. He should have given that idiot host the 'what for'.
One more thing...So what if CNBC had done what this idiot host had wanted, and 'sounded the alarm' as a network about the 'coming financial crisis'...they would have been accused of causing a self-fulfilling prophecy. They have scores of guests on each day. Each has his/her own opinion about the markets. They report, we decide. We each decide whether or not to 'pull the trigger' on a stock or not, irrespective of what some ranting middle aged bald guy tells us to do. If you decide to hit the 'buy' button, you have no one to blame, or congratulate, but yourself.
Jon Stewart can't have it both ways...
March 23, 2009 - 00:25 ET by lsudolemiteHe so desperately wants to be taken seriously as a political commentator, yet wants to hide behind his "hey, it's just a comedy show" excuse when he's seriously challenged. If he truly wants credibility he'd engage political opponents in a neutral debate, not drag them into his arena where he has a hostile audience and an army of writers and editors to make him look good.
The liberal MSM playbook
March 23, 2009 - 07:15 ET by ThisnThatWhile on the subject of CNBC, what does the MSM do to literally pound home their viewpoint and turn the public's opinion? -- Latch onto a topic and keep it in the press 24x7. Just like the Macaca comment -- front page headlines every single day until the person or institution has been painted every shade of shame or evil possible.
And that's exactly what CBS Marketwatch is doing. They have assigned their uberliberal Jon Friedman to the CNBC case. Like this morning's rant: "CNBC's size alone makes it look like an appealing target at a time when investors are depressed and furious"..."Fair or not, CNBC suddenly represents everything that is evil about capitalism"..."[Jon] Stewart's rebuke revealed how silly the network looks when it dumbs down the news." And on and on and on.
Friedman writes a column on CNBC every other day; sometimes several days in a row. He has managed to take a single item -- Cramer -- and is using it to paint CNBC as the embodiment of evil. Not with facts, mind you -- oh no, that's not the Liberal way. Accusations; innuendos; heresay; gossip. That's what MSM liberals do, and Jon Friedman is having the time of his life. His masters, of course, are letting him do this. It serves a purpose -- tearing down something they think is evil. In this case, it's Capitalism they are after. Free markets and the U.S. are evil, and CNBC supports both -- so it must be beheaded. And if CNBC can be portrayed as totally out of touch with the "way things ought to be" (as defined by CBS, of course), then that's a bonus.
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The challenge is to follow a consistent plan despite inconsistent prices - Sarah Palin, State of the State of Alaska speech