Thursday, March 19, 2009


"Stewart, too, rides the zeitgeist. The hunt is on for the culprits and scapegoats, and Stewart has served up a cliche: the media."

Richard Cohen, "Don't Blame Jim Cramer," The Washington Post, March 17, 2009.

Let's get real. Jon Stewart and the Daily Show are not the only ones looking for culprits behind our recession, financial collapse, loss of trillions in equity, malfeasance, etc. Others have wondered where the fourth estate was hiding while all this was going on -- along with regulators, consumer advocates, and upstanding businesses.

I accidentally tuned in for some of Cramer's drubbing and found it to be an unusual moment of TV, a bit of honest interaction -- although I probably missed something. What I saw was Jon Stewart shaming Cramer for being a stock-market huckster on the airwaves who contributed to this mess. Very old fashioned. Moreover, the usually chatty Cramer was contrite, willingly taking his small dose of public humiliation. Someone was actually sorry for their mistakes. How odd.

On the other hand, Cohen's apology for Cramer and the media reeks of clan self protection.

No comments: