Friday, March 20, 2009

Line of the Year

"Listen, you knew what the banks were doing and yet were touting it for months and months," said Daily Show host Jon Stewart to CNBC superstar Jim Cramer in their much-discussed confrontation last week. "The entire network was, and so now to pretend that this was some sort of crazy, once-in-a-lifetime tsunami that nobody could have seen coming is disingenuous at best and criminal at worst."

Awesome. Stewart is bang-on - to simply tell the public that "ooohhh...crap! We never thought this would happen!!!" is a freaking flat out lie. Search around - there were discussions about what might happen as early as 2006. But then suddenly in september/08 US congress must pass $700B because "CRAP WE NEED IT NOW AND WE NEVER KNEW!"

Find the interview between Stewart and Cramer - the unedited one as well. I somewhat pitied Cramer in how much he was thrown under the bus...til I remembered that he personally got rich by the ultimate Pump n Dump.

Sometimes I think: No bailouts, no stimulus....let it crumble and see what happens..:)