Give CNBC’s Jim Cramer credit for showing up on “The Daily Show” last night to face his network’s headline-making tormentor, Jon Stewart.
But Cramer couldn’t stop Stewart from pasting CNBC yet again, accusing the nation’s premiere financial network of being a cheerleader for Wall Street’s worst players and contributing to the current financial crisis.
The host of “Mad Money” graciously agreed that CNBC could have done better and disavowed correspondent Rick Santelli’s trading floor tirade against President Obama’s plan to bail out struggling homeowners.
(Santelli got Stewart started when he canceled an appearance to discuss that outburst, prompting Stewart to lampoon the network’s gullible, overly optimistic reporting.)
Cramer was clearly caught off guard when Stewart played portions of a 2006 video in which Cramer discusses how he manipulated stock prices and outsmarted regulators at the SEC in his previous life as a hedge fund manager.
“The gentleman in that video is a sober, rational individual. And the gentleman on ‘Mad Money’ is throwing plastic cows through his legs and shouting ‘Sell! Sell! Sell!'” Stewart told him. “I can’t reconcile the brilliance and knowledge that you have for the intracacies of the market with the crazy bullshit I see you do every night.”
(Click on the video above to see that part of the intereview.)
In the end, Stewart suggested that CNBC could get “back to fundamentals on the reporting…and I can go back to making fart noises and funny faces.”
That was a deal that Cramer could “Buy! Buy! Buy!”