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Stewart vs. Cramer is a beatdown

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!”

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  1. sherri126 said:
    on March 13th at 04:56 pm

    The thing I couldn’t believe was how Cramer kept saying CEOs lie all the time on CNBC. If that’s the case, then why do they keep interviewing these guys? Can we believe anything we hear in those interviews if CNBC’s reporters are powerless to make these guys (and they’re always guys, right?) tell the truth?

  2. Max said:
    on March 13th at 09:23 pm

    Santelli is just another chooch on the network who loves to run his mouth. Strange how the mouth hid away when it came to facing Stewart.

    Let me edit your line, “accusing the nation’s premiere financial network of being a cheerleader for Wall Street’s worst players and contributing to the current financial crisis” to:

    “truthfully labeled the nation’s b.s. network, CNBC, of being a cheerleader for Wall Street thieves and a contributor to our current financial crisis.”. There…now that’s better.