Jim Cramer's Thursday appearance on Jon Stewart's Comedy Central program has gotten a lot of buzz. Stewart asked a lot of tough questions and took Cramer to task for trying to turn financial reporting into a game.
There were laughs, but in the larger sense there was nothing funny about CNBC stock picker Jim Cramer's widely anticipated appearance. In response to aggressive questioning by Stewart, Cramer said that he was "chastised" and wished that the financial news network had done more to expose Wall Street corruption.
Here's the video if you want to see it. Cramer vs. Stewart
Stewart repeatedly blasted the channel for cheerleading Wall Street in the run-up to the worst economic downturn since the Great Depression. He questioned whether it was "selling snake oil as vitamin tonic" in a way that was "disingenuous at best and criminal at worse."
"Absolutely, we could do better," Cramer said. "There are shenanigans, and we should call them out. Everyone should. I should do a better job at it. I'm trying."
Stewart concluded by urging CNBC to cut its ad slogan "In Cramer We Trust" and "get back to fundamentals on the reporting.
Any of you Real Cougars watch Cramer? I must admit I do on occasion – but I'm a Wall Street junkie. Guess you can't take Wall Street out of the girl. After spending over 20 years on a trading desk it's in my blood.