Fast Money

What's the media's role in the economy crisis? It's hard to tell and Jon Stewart probably didn't want to provide an in-depth analysis, eventually he is still running a comedy show. It was following rant by Rick Santelli:

How about this, President new administration, why don't you put up a web site to have people vote on the internet as a referendum to see if we really wanna subsidize the loser's mortgages. [..] This is America. How many of you people wanna pay for your neighbor's mortgage that has an extra bathroom and can't pay their bills? Raise the hand! President Obama, are you listening?

that indicted Jon Stewart to have a closer look on poor judgment - not of the homeowners but of the financial experts of CNBC (March 4, 2009):



Less than a week later there was a follow-up (March 9, 2009):



Since the last one particularly picked on Jim Cramer the media made a War of Words between Jon Stewart and Jim Cramer out of it - yet another example on how media works. Remember, Stewart's primary intention was to expose CNBC's financial expert's judgment compared to the losers with their mortgages...

Eventually, Cramer gave in and came to the show 3 days later - and he was pretty much torn limb from limb. This is the unedited interview of March 12, 2009, part I:



Unedited interview of March 12, 2009, part II:



Unedited interview of March 12, 2009, part III:



Yeah, the interview wasn't quite fair, Stewart wanted to smash Cramer, he made him look like a fool and Cramer had hardly any chance to defend. I think it's a great piece of not only entertainment though, Stewart has many points. He is not really blaming media (or CNBC in particular) as reason for the financial crisis but as another piece of the puzzle. And it was only Santelli's blatant remark that increased the height of fall and made it actually interesting for Stewart.