David Lieberman of USA Today writes Thursday about why the country seems fascinated with the brouhaha between CNBC and its “Mad Money” host Jim Cramer and “The Daily Show” host Jon Stewart, who criticized the network for its business news coverage and faulty predictions.
Lieberman writes, “The host of Mad Money likely will have to provide the No. 1 business news network’s most pointed defense yet against criticisms that, during the worst economic crisis since the Great Depression, it has been too hard on President Obama’s stimulus package and too soft on CEOs.
“Cramer also will have to answer for misguided stock predictions — including some last year urging investors to buy and hold Bear Stearns just before the investment bank collapsed.
“‘Here’s a guy who may have his career on the line,’ says Bob Gold of public relations firm Bob Gold & Associates. ‘His credibility has been brought into question. NBC Universal (CNBC’s parent) will have to draw a line. Trust is at stake.’
“CNBC, which celebrates its 20th anniversary on April 17, says that its journalism has held up well. ‘I don’t think we’ve pitched a perfect game,’ President Mark Hoffman says. ‘But it’s a one-hitter or two-hitter.’Â Cramer and Stewart declined to be interviewed for this story.”
Read more here.
