Tuesday, March 24, 2009

Jon Stewart explains it all for us

Just saw a repeat of Jon Stewart's "The Daily Show" smackdown with Jim Cramer of CNBC's "Fast Money." Wow! I didn't see it the first time because the buildup was so overdone that it couldn't possibly live up to the hype. But Stewart's main point was a simple one. Why was CNBC fiddling why Wall Street burned? Certainly they could have better reported the shenanigans behind the scenes, the fact that A.I.G. and Bear Stearns and Citigroup execs were taking our 401(k) money and enriching their own selves, all the time telling us to put more money into our investments and just forget about it. Trust us.

We're at fault too. We let them get away with it. Then. But what about now? Will we hold them accountable? Will Pres. Obama and his money people let them get away with it by propping up their old shell game?

Next time your workplace H.R. people conduct an investment seminar, ask them this question: Why did you tell us to put our money into 401(k)s and deffered comp plans and then forget about it? Is there something you're hiding? Or worse -- something you don't have a clue about because you too never ask WHY?

Start educating yourself by watching the repeat of Stewarty vs. Cramer "Daily Show" episode at http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533


The Boise Picayune said...

PT Barnum must be laughing in his grave!

Michael Shay said...

P.T. Barnum was a piker compared to these guys.