Stewart Slams Jim Cramer


That, and other news, in today’s Roundup and Recap.

Following up on his skewering of CNBC last week, Jon Stewart took on Jim Cramer last night, specifically Cramer’s claim that he never gave a “buy” recommendation for Bear Stearns just before the company went under.

Howard Kurtz writes that Stewart has had an impact on network news, which, “straining to be hip,” play side-by-side clips to identify contradictions between pundits and politicians.

He writes that Stewart has a point. “I have a lot of respect for CNBC’s top journalists. And you could deliver a similar indictment of financial journalists overall — that with some exceptions, they operated on the assumption that the giant banks and mega-corporations were on sound footing and whatever risks they faced were manageable. The most egregious failure, in my view, was failing to fully report on the drastic cutbacks in federal regulation — the SEC’s shift to virtual voluntarism and the rise of a shadow banking system that sliced and diced and swapped paper beyond the reach of the authorities. Too many of CNBC’s guests are fund managers with an interest in talking up stocks and analysts whose investment houses do business with corporate America.”

Update: Cramer is to appear on “The Daily Show” on Thursday.

Matchup or Mashup?: Bill Maher and Ann Coulter debate at Radio City Music Hall.

Couric Honored: Katie Couric wins a Walter Cronkite award from USC’s Annenberg School for her coverage of the 2008 election, including the Palin interviews.

Power Couple:
The Washington Post focuses on new D.C. power couples, including Rufus Gifford and Jeremy Bernard, who raised millions for Barack Obama last year through their L.A. based consulting business. Gifford is now finance director of the DNC; Bernard is White House liaison to the National Endowment for the Humanities. The Post calls them “leading candidates for Washington’s new same-sex power couple.”

“We had a certain amount of juice out West, but we’re newcomers here and we’re going to have to work hard,” says Gifford, a former entertainment industry executive. He and Bernard mainly knew the Obama Chicago crowd from a distance, by phone. Here, “we will have time to cement relationships, and to expand the circle . . . and see what makes this town tick.”

Gere Reacts to Clinton: Richard Gere, lobbying Congress on Tibet on Monday, said he hopes that Secretary of State Hillary Clinton merely misspoke when she said that human rights concerns would not impede U.S. and Chinese cooperation on economic issues.

Gere said, “My first thought was to those incredibly courageous human rights, civil rights and constitutional rights Chinese who count on the acknowledgement of the world as a leverage point.”

He said that he hopes she “just misspoke and then has not figured out how to fix it.”

“I hope that’s the case because it’s out of character for her also. It’s not the kind of woman or politician she is,” Gere said.

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