Tonight, Jon Stewart showed in a breathtaking five minutes just how corrupt the TV financial Media really is. Either Cramer, Bartoromo or Kudlow are astonishingly un-self-aware or they just know they can get away with it. I'm betting on the latter. With just three pairs of clips, Stewart showed what blatant and obvious shills they are.
First: The financial anchors were shown unanimously condemning the $13B Settlement by Chase on the basis of how terribly unfair it was for Chase to pay the liabilities of the banks they acquired in 2008 (Bear Stearns and WaMu).
Then, Stewart showed clips proving that Chase's deal unquestionably included those liabilities, including Jamie Dimon confirming the simple fact that Chase was picking up the other banks' debts.
Second, Stewart showed Maria Bartiromo dismissing reports in the New York Times by throwing up her hands and saying "Oh, the New York Times!" with dripping, contemptuous sarcasm, as though that source of the news was equivalent to the Drudge Report.
Then, he showed clips of Bartiromo and others citing the Wall Street Journal Editorial page as the sine qua non of factual authority. So -- Times news pages - no; Wall St. Journal Editorials, Si. Good to know.
Finally, Stewart showed the same cast of characters going on and on this week about how Chase had done the US government a huge favor by buying the bad banks in 2008. Jim Cramer was especially demonstrative about the bank's charitable act toward the Federal Government.
You knew what was coming -- Cramer in 2008, right after the same deal, rhapsodizing about how Chase had practically stolen the assets from the Federal government, and recommending a huge "buy" for Chase because of the deal.
Stewart does a lot of these contrasting clips that make present statements seem idiotic or hypocritical or disingenuous - usually all three. But this one was especially devastating.
If I were those financial TV people I'd better . .. .. Nah.