Jon Stewart Wins Cramer Showdown

[GMScud]

Originally Posted by That Guy

it really wasn't stewart vs cramer though.

cramer was open to trying new things on his show, but stewart was mainly bashing the cozy coverage CNBC had of all those overleveraged companies' CEOs and then having rick turn around and say the blame lies entirely with the people who couldn't afford the houses (as if the banks that thought financing that venture weren't in any way at fault for part of the mess).

CNBC is an ENTERTAINMENT channel. CNN did real news 24/7, and you know what happened? the ratings started to tank against the entertainment/biased news channels (fox news etc), so the "old" news-core CNN died, and now, outside of the BBC, the news channels are all competing for ad dollars just like MTV or ABC etc.

if CNBC did what stewart suggested, they'd tank their ratings and lose their ad revenue. sad but true, they make money off ads, not news, so the whole reporting real news thing isn't as important as getting people to tune in by whatever means necessary.

it was kind of a faulty/unfair argument in that it's not based in reality. CNBC is NOT the SEC.

Yeah I agree with this for the most part. In a way Stewart was sort of shooting the messenger.