Jim Cramer, Jon Stewart, CNBC and the problem with doing 17 hours of live TV a day

I agree 100%. I had always thought of CNBC as a snake oil channel that did Wall Streets bidding. The interview reminded me of a Michael Lewis book Next about Jonathan Lebed and his stock promotion activity which led to a dust up with the SEC. Jonathan stated "what is the difference between what he did and CNBC?".

But the unavoidable truth here is that a large percentage of cable-TV news is really stupid. It can be useful and sometimes even smart when actual big news is happening—CNBC got almost every important bit of news first during the TARP drama in September and October. But when nothing big is going on the need to (a) fill airtime and (b) keep viewers watching leads to the production of hours and hours of mind-rotting junk.
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too bad you're not Dr. Justin Fox, 'cause then I could say "physician, heal thyself!"
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are the cable networks crappy -- sure they are. But seriously, how much better is the print media? The same point Stewart made about the failure of CNBC to investigate and warn people applies to the print media -- its not like the mortgage bubble was front page news at the Wall Street Journal when it first because obvious that there was a bubble -- and that the longer it continued, the more significant its impact.
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And as James P. has pointed out, when he suggested doing a piece on the phenomena of "real estate porn" he was told specifically by Time editors to not write about the housing bubble.
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And you yourself think its necessary to "simplify" everything for your audience at Dead Tree Time -- can't get "too wonky" or you'll lose your audience, right?
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CNBC isn't the problem -- its the entire media. And there is something you can do about it; make it your personal crusade to make this country understand that there is a huge difference between what's good for Wall Street, and what's good for the Average American. In other words, stop treating what happens on wall street as indicative of economic progress, and point out to those who do use wall street as their barometers that they are full of sh*t.

If we have learned anything from the Bush administration about public sentiment at times when errors are made, its that accountability - if demonstrated - can cure many ills.

Of course, we learned this lesson from the administration because it refused to demonstrate any sense of accountability at any point in an eight-year window.

It will be interesting to see how CNBC and Cramer approaches the network's and Cramer's accountability for past mistakes in the coming weeks.

Indeed, Cramer was sheepish at best on The Daily Show, and he is clearly embarrassed at what Stewart and Co. have done to it.

Maybe Cramer shouldn't roll those sleeves up so high, possibly CNBC should simply require mustaches on all on-air personalities or provide more bacon (http://www.BaconInstitute.com) in the cafeteria. Who knows.....

This is really not that refreshing: The bulk of news media is NOISE, and cable TV could only offer useless noise.

Ever since TV runs a 24 hour daily program, it has been full of junks. It is simply impossible to have breaking news every 5 minutes throughout the day, 24/7. Not that this is not a common knowledge, but when it comes out from a fellow media journalist, such remarks can be revealing.

Often, views and opinions are biased, up to the whims and idiosyncrasies of the producer or editor. Like it or not, the speakers or commentators are mostly less-than-knowledgeable. Yes, they talk, sometimes they talk too well (rhetorically or not) – but with little substance.

In the final analysis, never trust the media wholeheartedly; just gather the necessary information to exercise your own assessment and JUDGMENT every TIME, all the time.
(Tan Boon Tee, btt1943@yahoo.com)

pluk,
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Unfortunately, there is not much to heal. News coverage and commentary will change when the people demand it. As the Daily Show grows in influence and blogs take the place of newspapers and dead-tree editions of Time, the MSM will adapt or they will perish.
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Case in point: Look at what MP3s and Apple did to the record companies. It's like Lee Iaccocca used to say in those old (rather prescient) Chrysler commercials: "You either lead, follow or get out of the way!"

All media has lost its way...it has become a profit-center for the large corporations that own our print, cable and internet media outlets. As such, the media is now about entertainment - hence the 'Mad Money' approach to investing on cable tv.

That CNBC is full of Wall Street 'insiders' was understood. That they led us to believe that their previous insider status gave us critical information on the economy means the jokes on us. That they failed to ask the difficult questions of their so-called experts could be disappointing, except that in doing so, they could be seen as colluding with those who ultimately brought our economy to its knees.

They need to grow up and become journalists - not media celebrities! During the Watergate Era, we viewed many reporters as heroes. Now we have to rely on Jon Stewart for hard news?