With Cramer and fellow CNBCer Erin Burnett as guests this morning, Meredith Vieira observed that Warren Buffett had said the economy has “fallen off a cliff.” Cramer joshed that the Obama admin should attack Buffett as they had the “little guys,” a reference to himself and the way White House press secretary Robert Gibbs had gone after him. It was Meredith’s response that really touched things off . . .
MEREDITH VIEIRA: You know, the White House is not the only who has come down on you, Jim. Jon Stewart and you are having a little war of words.
JIM CRAMER: A comedian! A comedian’s attacking me! Wow!
VIEIRA: You know what he’s saying about you: that you advised investors to buy Bear Stearns.
Cramer went on to make the point that yes, he had made some bad calls– as had anyone recommending virtually any stock prior to the current crash. But he also had a telling rejoinder.
CRAMER: On October 6th of 2008 I came on this show and did something you’re never supposed to do if you have a stock show: I said people should sell everything. That was 35% ago. I mean, whatever he says: Bearn Stearns, this or that. That was a call [to sell everything] that should have wrecked my career and it would have if the market had gone up. But I stuck and did it, and it saved a lot of people money.
Vieira rolled the Daily Show tape rolled in which Cramer was seen on CNBC recommending Bear Steans.
CRAMER: Here’s the shocker: almost every stock is down. Any stock you recommended is bad. Warren Buffett: I could run tapes of him, he would look like a complete fool. This is a terrible market, which is why I told people to sell everything. But you think he’s going to run that tape? No, because he’s got a comedy show. Maybe he’s going to start talking about Tier I capital and how to save Citi. But that kills ratings.
Yes, Cramer didn’t look good recommending Bear Stearns just weeks before it went out of business. But as he points out, any stock maven, including the Oracle of Omaha, could be made to look bad with his pre-September picks. But Stewart chose to single out Cramer because he had the audacity to criticize Obama. So let’s give this round to Cramer—while awarding a junior Robert Gibbs badge to Jon.
4 Comments
Jim Cramer is learning a valuable lesson about his liberal “friends,” and that is they will quite literally eat their own, particularly if it is to protect one of their scared cows, and especially their precious Marxist messiah.
-Dave
These liberal “elites” whether they be politicians, journalists, MSM, or comedians, yes even comedians are SO PREDICTABLE.
Cut and splice any comment unfavorable to “the One”, blame the messenger and WHAMO, the messenger immediately becomes the enemy of the state.
So damned predictable.
Cramer better be looking at Fox for future employment…evidently the word from on high has come down.
Stewart didn’t attack Cramer “in retaliation” for anything Cramer said or to protect Obama.
Joe Santelli was supposed to be on the Daily Show to talk about his remarks that we shouldn’t subsidize the poor judgement of homeowners with the bailout. Stewart played several clips of CNBC personalities making remarks that would be considered poor judgement in in hindsight. Included in these was at least one clip of Cramer.
Cramer just happened to be the one who got upset and responded.
Cramer is to appear on the Daily Show on Thursday. In any case, it will be interesting to watch.