Ps. I've added a timelime of this historic smackdown for those who wonder how it all started.
Guys, the damage was more than I could have predicted. Last night I missed the entire show. It was a busy week for me so in fact I missed the entire timeline of the back-and-forth. But, i saw a diary on it late last night. I followed up on AP and CNN and immediately noticed that the reporters seemed to agree that Cramer had been well, creamed. I sensed that it would dominate the media coverage if the stock market didn't tumble on Friday.
For example this is what CNN said about the exchange in its late Thursday summary:
Stewart, whose acerbic brand of satire centers largely on the political news of the day, has held Cramer’s frenetic, nearly cartoonish stock-advice show, "Mad Money," and other CNBC programming up as examples of an anything-goes attitude that contributed to the financial collapse.
So I was sensing that the non-NBC crowd would really jump on this and sink NBC over this. But I certainly didn't think all the evening news would devote a piece to this.
Wow, Stewart is the new Edward Murrow of journalism.
Congrats ,Mr Stewart, you thoroughly deserved it.
Roundup of Non-CNBC/NBC press coverage of the prosecution of CNBC/Cramer:
CNN slings
ABC goes for a kill
CBS isn't sitting on sidelines , My friends
Anyways, for those of you who, like me, don't know how all this started, here's a recap.
A. Santelli calls mortgage owners losing homes losers.
B. CNBC doubles down on Santelli's populism and calls mortgage relief for home owners by administration a socialist redistribution agenda.
C. Cramer figures out that he must capitalize on CNBC's new found notoriety so he starts slinging mud shots at the president and calls him Lenin, a communist, a wealth destroyer, a hater of hard working americans and the democrats in congress his "comrades" in his efforts to destroy American wealth for his pleasure.
D. Stewards responds and the rest is history.