‘Daily Show’: Stewart vs. Cramer
Jon Stewart is on a tear these days, taking on the wild world of financial punditry one shouty bald guy at a time. This episode is dedicated to CNBC's Jim Cramer, who, try as he may to deny it, just seemed to have a thing for Bear Stearns stock -- mere days before the company tanked.Jon Stewart is on a tear these days, taking on the wild world of financial punditry one shouty bald guy at a time. This episode is dedicated to CNBC’s Jim Cramer, who, try as he may to deny it, just seemed to have a thing for Bear Stearns stock — mere days before the company tanked.
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Back in July of 2008, when most of us were still blissfully ignorant about the approaching economic apocalypse, then-Treasury Secretary Henry Paulson was very aware of some important market distress signals, and he chose to share some of those with an elite group of financial executives, Bloomberg reported Tuesday.
The Harvard MBA is the degree that George W. Bush and his last treasury secretary, Henry Paulson, had in common, and their shared ignorance as they presided over the collapse of the U.S. economy is on full display in the former president’s newly published memoir.It takes a Harvard MBA to raze an economy. Perhaps that is too narrow a judgment given that a law degree from that institution or from Yale University seems to serve as well.
The good news: Federal Reserve Chairman Ben Bernanke believes the U.S. economy may show signs of bouncing back before 2010 -- yay! The bad news: Bernanke also believes that aftershocks from the recession may continue to wreak havoc for a good while to come -- sigh.
In this highly anticipated face-off between Jon Stewart and CNBC's Jim Cramer on Thursday's "Daily Show," Cramer furiously backpedals as he's zinged repeatedly by a (mostly) courteous but relentless Stewart, who questions whether Cramer isn't a snake-oil salesman who has supported the myth that there is one unified economic system that works the same for everybody while knowing that's not the case.
Considering only two options for an imperiled General Motors -- either bailout by the U.S. government or bankruptcy -- omits an important alternative, which I see as the best option: a takeover of GM by Toyota Motor Corp.
Sure, we've all heard the stories about Wall Street bigwigs lining their pockets with gold dubloons while the rest of us scramble to save pennies, but The New York Times has drawn out that contrast in graphic detail with a handy series of charts showing the total earnings (including bonuses) of 12 top executives from 2003-2007.
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