by Ari Rutenberg
I’m hoping Jim Cramer lives up to his word. During last nights Jon Stewart shellacking Cramer agreed to get serious in his commentary. He is a well-known voice and has a deep insiders knowledge of the financial system. And if he actually gave us all that insight and used his connections and experience to expose Corporate America’s BS it would be a great service to our country. And the effectiveness could be tenfold if he gets other anchors for CNBC to do the same.
Jim Cramer has played a stupid game and deserves every cirticism lobbed his way. But he seems like a good guy who got sucked in to a gilded echo chamber and forgot that it was his job to challenge the business leaders whose practices he knew to be corrupt and dangerous, not to pass on their word as if it was devine.
But Cramer took his licks like a man. He stood up to Jon Stewart a few times, but it seemed to me that he knew he had done wrong and that he had not done his best.
In a few hours he’s gonna be on Morning Joe. If he stands up straight and tells Joe and Mika how it really is, this could be a tranformative event for Cramer and the financial press. It could also be a moment of weakness where he caves to the conventional wisdom and dismisses Stewart’s points. But if he supports Stewart and makes it clear that the comedian was right, that could really start something amazing.
And that’s why I’m rooting for Jim Cramer.