By all accounts, Jim Cramer got his ass handed to him last night on The Daily Show. Jon Stewart came out swinging and never let up, leaving Jim Cramer sagging against the ropes.
"I understand you want to make finance entertaining," Stewart told Cramer at one point, "But this is not a f-cking game." By the end of the show, Stewart had Cramer admitting he "should do a better job" of reporting and advising on financial matters.
We have Round 1 here. The rest of this bruising smackdown can be viewed at Comedy Central's The Daily Show webpage here.
According to this L.A. Times article, CNBC money pundit Jim Cramer and Comedy Central's Jon Stewart are locked in a "full-blown media feud" over CNBC's reporting--or lack thereof, according to Stewart--of the precariousness of the economy over the last two years. In particular, Stewart has been playing clips of Cramer's financial and investment advice show Mad Money, with Cramer decidedly sugar-coating the situation: “Bear Stearns is fine! Bear Stearns is not in trouble.” Less than a week later, the investment house folded.
According to Stewart, “If I’d only followed CNBC’s advice, I’d have a million dollars today -– provided I’d started with a hundred million dollars."
Since then, there has been a volley of quips and remarks fired back and forth between the two, first in a column Cramer wrote on MainStreet.com, then an appearance on the Today show, with Stewart responding on his Daily Show broadcast. Look for Stewart to fire another round in tonight's episode.
And for the record, MY money is on Jon.