Monday, March 16, 2009

Cramer vs. Stewart

I don't know if you had a chance to catch any of the Comedy Central Smack-down of CNBC over the last 2 weeks.....but if you haven't, you should. Comedy Central http://www.thedailyshow.com/ has the whole series and there are tons of excerpts and postings on You Tube
http://www.youtube.com/results?search_type=&search_query=john+stewart&aq=f too.

This was John Stewart's finest hour. finally giving some national exposure to the joke that our financial investment system has become. His assertion that there are 2 Wall Streets.....the one we all have our 401K monies invested in....and the other, behind the scenes - hedge fund and derivatives - Wall Street that was using all of our money to fund their 'games' was spot on.

I've brayed at Moody repeatedly over the years that Jim Cramer and CNBC's circus like approach to investing couldn't possibly be good for investors or the nation as a whole. To quote Stewart...."it's not a f*&%ing game". Unfortunately, too many people in powerful and influential positions thought it was.

I only hope that this helps the current administration restore proper regulations and integrity to the institutions of investment and finance.
And aren't we all breathing at least a little bit easier knowing that there won't be any talk of 'privatizing' Social Security any time soon? Could you imagine what a disaster THAT would have been?

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