Stewart seen as winner in showdown with Cramer – CNN.com:
“‘People want to see a lot of the financial gurus on a shish kabob, being skewered,’ Seaman said. ‘It’s really important to hold people accountable, and as we saw last night, Jon Stewart is a bit of a wild card, so if you aren’t living up to expectations, he may call you out.'”
Which is exactly why I watch the show. I need that “powerful tool of illumination.”
While I think Jim Cramer shouldn’t be the only face of the problem, I do think this total roasting is completely on the money. I’m reminded of the Crossfire roasting he did years ago. When will they learn? Here it is in unedited glory.
What Will Wall Street Look Like in the Fall of 2009? — New York Magazine:
“And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. I’ll go a step further: Obama is a recession. McCain is a depression.
Wall Street usually favors Republicans when it comes to managing the economy, but this time around the financial community is skeptical. John McCain has done everything he can to avoid talking about the economy, lest he be tarred with the brush of George Bush’s ineptitude. And when McCain has attempted to step into the fray, he’s been far from reassuring. First, he insisted that the fundamentals of the economy were sound; then he turned around and told us it was the end of the economic world as we know it, and suspended his campaign to scramble back to Washington and save the day on the bailout bill—only to have little visible effect. For all his talk of being a maverick, McCain looks an awful lot like President Bush on the credit crisis: He doesn’t seem to understand Wall Street or Main Street, he is dogmatically anti-regulation, and his economic team is a joke. “
(Via New York Magazine.)