Quote from Mav88:
You people don't give cramer enough credit as far as his influence. ALOT of people listen to him, especially investors, mind you they're usually small guys with online brokerage accounts, but it still accounts for a lot of people and enough money to move stocks. Cramer IS a problem and a source that matters. I know I speak on deaf ears at ET since the majority of you don't know much about trading or politics, but in lieu of that you should understand Cramer has his own show for a reason. Ratings drive his show and people watch it. They're dumb for watching it and even worse for listening to the guy, but they do it nonetheless.
What Stewart was saying was a very good argument. He's bringing it up AFTER the fact because average investors as well as the majority of people who don't invest don't understand what goes on until it already happens. But a seasoned Wall Street veteran like Cramer who supposedly knows it all and has all the connections an investor would ever want DIDN'T know or just didn't say anything and guided his audience in the very wrong direction. Had americans known at an early point about how the banks were using their capital and leveraging their assets, this situation wouldn't be anywhere near as bad as it is right now.
CNBC is supposed to to be a central hub for financial news and they have no idea how to report it. Any monkey can read something off of yahoo finance, but these guys are supposed to be Graduate professionals and they're not. They're all hacks and can't do their job for shit. Sometimes it's nice to watch on mute for some of the girls, but it's just become another reality TV show.
You said it yourself, if someone makes investing decisions from a circus clown that has baby crying sound effects, then they are dumb. So you want to protect the dumb? then you'll have to ban every bit of investing advice out there because most of it is wrong. Very serious people gave the exact same advice as Cramer the whole way down, people like Buffet were buying, Obama says buy now- what if he is wrong?
Graduate professionals?? wtf does that have to do with anything?? Americans did know about the housing bubble everyone had all the same information, we had people here on ET crying doom and gloom last february yet they were called whiny permabears...dude, you make points that a newb would bring up, pretending like there is someone out there that is always correct and sober in analysis and they should be on CNBC... I think you are one of the dumb ones.
