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Last week, satirist and television personality Jon Stewart of the Daily Show skewered Jim Cramer [Mad Money] and CNBC. Jon Stewart exposed CNBC (and others in the financial news industry) for their compliance in the economic meltdown. Jon Stewart put forth a new vision of journalistic integrity for financial news. Now, you can help make it real, with a petition to CNBC.
The petition to CNBC is: here.
What’s it about? A group of progressives and economists are building on the schooling of CNBC and Jim Cramer by Jon Stewart by petitioning CNBC producers to stop being a PR firm for Wall Street and start doing real, investigative journalism of the financial world that protects consumers and ordinary investors.
Thanks to the Levellers blog where I found out about the petition.
Filed under: Action Alert!, activism, media, politics, progressive politics, US Politics Tagged: | Business News, CNBC, consumer protection, consumers, Daily Show, financial news, investments, investors, Jim Cramer, Jon Stewart, journalism, Mad Money, News, petition
Jon Stewart handed Cramer his arse!
Watch the Unedited Interview
http://unspy.wordpress.com/
Wall Street is supposed to have an early warning system that if something is amiss it will self correct in time to avoid a collapse of the system. That early warning system is known as price action. In other words, the trading price of Citigroup, Merrill Lynch, Lehman Brothers, Bear Stearns, Freddie Mac, Fannie Mae and AIG should have begun a downward trajectory years ago as these firms loaded up on leveraged junk. There is only one possible scenario to explain why this did not happen: trading in the market was rigged. That is the root of the problem which Jon Steward is getting to with his questions.
Now thanks to Jim Cramer, the public now knows how easy it is for an insider to manipulate the market and get a stock prices to move up or down. Jon Stewart has opened the floodgates. Let the hearings begin.