Tuesday, March 10, 2009

Update: Stewart excoriates CNBC

Jim Cramer complained that Stewart's take on CNBC last week, in which Stewart said Cramer encouraged people to buy Bear Stearns five days before it collapsed, was in error. Cramer pointed out that in the clip Steward showed, Cramer wasn't encouraging people to buy Bear Stearns stock; he was simply assuring them it was safe to use Bear Stearns for handling one's investments. Steward acknowledges the error, but then goes on to show that Cramer did indeed encourage people to buy Bear's stock not long before the collapse.

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