Stewart summed up the significance of what Cramer had said on the tape: “You can draw a straight line from those shenanigans to the stuff that was being pulled at Bear and at AIG, and all this derivative-market stuff,” he said sternly.
Except that you can’t draw any such line. In the video, Cramer hadn’t mentioned derivates or securitized loans or credit-default swaps, or any of the other exotic financial instruments that caused the fall of AIG and the current recession. There’s no evidence that Jim Cramer had anything to do with any of that, and Stewart didn’t offer any.
The Humorist You Dare Not Criticize: How Jon Stewart Went Bad
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