>It shouldn’t take a little ol’ blogger from Nashville, Tennessee to explain the obvious to a great, big, important person like Ben Stein. But in yesterday’s New York Times column, Stein said something about the Jon Stewart-Jim Cramer contretemps that was so stunningly stupid, so obviously missing the point, and that same stupidity was repeated by Chris at TV Newser, so I guess I’ll have to point out the obvious.
Stein wrote this:
During the colloquy, Mr. Stewart lambasted Mr. Cramer as failing to anticipate events and inform his audience about those events.
No, no no. Jon Stewart was not criticizing Jim Cramer for failing to anticipate events. He was criticizing Jim Cramer and the rest of the business press for knowing the system is gamed, and not informing the public. For being willing participants in a fraudulent scheme that stacks the deck against average investors–people who have far more at stake and far more to lose than Wall Street bigwigs who basically gamble with other people’s money.
I shouldn’t be shocked that Ben Stein doesn’t get that. He’s part of that gamed system, after all.
Still, we aren’t stupid, Mr. Stein. You, on the other hand, obviously think we are.