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Last night on The Daily Show, host Jon Stewart interviewed Mad Money host Jim Cramer, asking him about CNBC’s role in policing the financial industry over the last 10 years during which the housing bubble formed and burst. In the second part of the segment (posted above) Stewart tells Cramer why he’s upset with the network, which if you weren’t aware is the leading financial newsmaker by audience.
“Let me tell you why I think this thing has caught some attention,” Stewart begins. “It’s the gap between what CNBC advertises itself as, and what it is, and the help that people need to discern this.”
Then Cramer’s promo plays; “An economy on the brink, investments in free fall, you don’t know what to do. Don’t panic, Cramer’s got your back.”
For the rest of the interview, Stewart lambastes Cramer, his show and the network, basically for not seeing any of this coming — or at least, not reporting it.
Cramer and CNBC are guilty not of omitting the truth, says Stewart, but of commiserating with the finance professionals who have guested shows and provided interviews. Basically, Stewart calls out the journalistic integrity of CNBC, which for all rights should have been a watchdog, rather than a lapdog.
We’ve posted parts 1 and 3 after the jump. Tell us what you think — should CNBC be held responsible for failing to do their jobs? Was their advertising misleading?
More: “As Jon Stewart Would Say”
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