Jon Stewart destroys CNBC shills - Page 3 - U2 Feedback

Go Back   U2 Feedback > Lypton Village > Free Your Mind
Click Here to Login
Reply
 
Thread Tools Search this Thread Display Modes
 
Old 03-12-2009, 08:42 PM   #31
Refugee
 
zooropop40's Avatar
 
Join Date: Feb 2009
Location: Interference is called Interference because it interferes on my ability to live a normal life...
Posts: 1,583
Local Time: 12:34 PM
Quote:
Originally Posted by phillyfan26 View Post
Cramer is going to be on the Daily Show tonight.
I know! I cant wait
__________________

__________________
zooropop40 is offline   Reply With Quote
Old 03-12-2009, 09:30 PM   #32
Blue Crack Supplier
 
Irvine511's Avatar
 
Join Date: Dec 2003
Location: Washington, DC
Posts: 30,486
Local Time: 12:34 PM
Quote:
Originally Posted by Bluer White View Post
What is your idea of a good business news outlet? And who owns it?


the best one i can think of would probably be The Economist.

however, i think predicting the markets is like predicting the weather, and when we're tantalized by the promise of near-instant riches, American men in particular seem to want to deify whomever appears to know more than the average schmo.

one of the best things to come out of this period of economic instability will be the virtual death of the worshiping of the markets and the Masters of the Universe.

i think that one of the worst things i've seen in my generation (i'm 31) has been the elevation and adulation of things like the MBA or going to Wall Street immediately after graduation. it was the fast-track to an instant 6 figure (or more) salary, and the money is what lured many of the best-and-brightest in the under-40 crowd to these financial institutions and they used their brain power not to cure cancer or build space shuttles but to buy and sell NINA loans.
__________________

__________________
Irvine511 is online now   Reply With Quote
Old 03-12-2009, 10:04 PM   #33
ONE
love, blood, life
 
financeguy's Avatar
 
Join Date: Dec 2004
Location: Ireland
Posts: 10,122
Local Time: 06:34 PM
Quote:
Originally Posted by Irvine511 View Post
the best one i can think of would probably be The Economist.

however, i think predicting the markets is like predicting the weather, and when we're tantalized by the promise of near-instant riches, American men in particular seem to want to deify whomever appears to know more than the average schmo.

one of the best things to come out of this period of economic instability will be the virtual death of the worshiping of the markets and the Masters of the Universe.

i think that one of the worst things i've seen in my generation (i'm 31) has been the elevation and adulation of things like the MBA or going to Wall Street immediately after graduation. it was the fast-track to an instant 6 figure (or more) salary, and the money is what lured many of the best-and-brightest in the under-40 crowd to these financial institutions and they used their brain power not to cure cancer or build space shuttles but to buy and sell NINA loans.
Good points you make here.

A lot of the best maths and psychics people went into finance in recent years whereas in previous generations they would have gone into academia, but it's not too late for many of them to change careers back, some might have no choice!

The funny thing is, it's not that long ago (say, thirty years or so) where for gifted science people to go into (non-research based) positions in industry of any type, not just financial services, was viewed as an eccentric choice. If you couldn't really cut it as a pure research scientist, you might deign to try for a job in industry.

I remember being at a banking conference a few years ago and the guy moderating the discussion at the table I was sitting at was giving some background as to his career trajectory, basically saying he had studied psychics at a good university, ended up with a PHD, but after a few years he thought he had given the field of science everything he could, and, uh, so he decided to go and work for a bank. I thought, that's odd. You decided you had given the world of science everything you could, so you became a banker. You had a qualifcation that is only one in a million could ever get, and you go into a profession which you're probably way overqualified for. Banking isn't really rocket science, frankly. The fallacy of the last few years is to try to turn it into rocket science. Truth is, this guy probably made more money in banking and that's the real reason he left science.

In conclusion, finance could go back to being a boring and staid profession, maybe that's not a bad thing!

For me, I am not and probably will never be a master of the universe, but I am more fascinated by the markets than ever.
Finally I will say that the free market isn't going away, old lessons have just come back to re-haunt us...
__________________
financeguy is offline   Reply With Quote
Old 03-12-2009, 11:22 PM   #34
Blue Crack Supplier
 
Join Date: May 2006
Posts: 30,343
Local Time: 12:34 PM
This interview is unreal. I thought it was going to be a joke. Stewart is going for the kill. I'm stunned.
__________________
phillyfan26 is offline   Reply With Quote
Old 03-12-2009, 11:41 PM   #35
ONE
love, blood, life
 
financeguy's Avatar
 
Join Date: Dec 2004
Location: Ireland
Posts: 10,122
Local Time: 06:34 PM
Quote:
Originally Posted by phillyfan26 View Post
This interview is unreal. I thought it was going to be a joke. Stewart is going for the kill. I'm stunned.
Didn't see it, but I am sensing Stewart has something definitive on this guy. Something that might be used in a court...

But it seems to have descended into an ego battle, when in reality its the CULTURE of these shows that should be attacked, not individuals.
__________________
financeguy is offline   Reply With Quote
Old 03-12-2009, 11:44 PM   #36
Blue Crack Supplier
 
Join Date: May 2006
Posts: 30,343
Local Time: 12:34 PM
He found a video of him online from December 2006 talking about managing his hedge fund. He talks about the existence of all the "shenanigans" that go on that "the SEC doesn't notice" in the video. Stewart really fired at him throughout.
__________________
phillyfan26 is offline   Reply With Quote
Old 03-13-2009, 12:21 AM   #37
Refugee
 
zooropop40's Avatar
 
Join Date: Feb 2009
Location: Interference is called Interference because it interferes on my ability to live a normal life...
Posts: 1,583
Local Time: 12:34 PM
Cramer was DESTROYED by stewart. I kind of felt sorry for him, he looked so uncomfortable.
__________________
zooropop40 is offline   Reply With Quote
Old 03-13-2009, 12:22 AM   #38
Rock n' Roll Doggie
Band-aid
 
Tiger Edge's Avatar
 
Join Date: Sep 2005
Location: The Everglades
Posts: 4,740
Local Time: 01:34 PM
Yeah I was pretty shocked he went for the jugular so early on and kept on hitting at Cramer when he already had his head in the sand. It seems that Cramer didn't know he had that tape on him too, so he was just thrown under a bus.

How many more SLAUGHTER analogies can I use?
This is going to be all over the news tomorrow. I feel for Cramer because he just got all the verbal massacre (that's 4) that the whole network should have gotten.
__________________
Tiger Edge is offline   Reply With Quote
Old 03-13-2009, 12:28 AM   #39
Blue Crack Supplier
 
Join Date: May 2006
Posts: 30,343
Local Time: 12:34 PM
Stewart was conscious of that the whole time, too. I think he said a few times that, "You've become the face of this whole thing, which is unfortunate" and made great pains to say, "It's not just you, it's the whole network."

I was completely blindsided by that. Stewart seemed furious when he was barking out the tape numbers one after one.
__________________
phillyfan26 is offline   Reply With Quote
Old 03-13-2009, 12:55 AM   #40
Rock n' Roll Doggie
Band-aid
 
Tiger Edge's Avatar
 
Join Date: Sep 2005
Location: The Everglades
Posts: 4,740
Local Time: 01:34 PM
I really want to watch it again (and the tapes, which I really didn't understand off the bat), uninterrupted. I feel like it was Frost/Nixon, except the roles were reversed and Frost didn't have a moment of redemption near the end. It was the equivalent of watching a lion take down a 3-legged antelope.
__________________
Tiger Edge is offline   Reply With Quote
Old 03-13-2009, 06:51 AM   #41
Blue Crack Supplier
 
Join Date: May 2006
Posts: 30,343
Local Time: 12:34 PM
The Daily Show with Jon Stewart Official Website | Current Events & Pop Culture News, Comedy & Fake News | Comedy Central

It's right there on the front page, for those wondering.
__________________
phillyfan26 is offline   Reply With Quote
Old 03-13-2009, 07:13 AM   #42
LJT
Rock n' Roll Doggie
VIP PASS
 
LJT's Avatar
 
Join Date: May 2005
Location: Belfast
Posts: 5,039
Local Time: 06:34 PM
It is worrying that a comedian is the most effective interviewer I see on tv
__________________
LJT is offline   Reply With Quote
Old 03-13-2009, 08:54 AM   #43
Blue Crack Addict
 
MissVelvetDress_75's Avatar
 
Join Date: Dec 2001
Location: basking in my post-concert glow still mesmerized by the orbit of his hips..Also Holding Bono Close as he requested.
Posts: 25,776
Local Time: 12:34 PM
Is it me or did Cramer appear at times that he was about to cry? His voice sounded like it was quivering at times. I enjoyed the interview and think Jon Stewart raised his creditability last night.
__________________
MissVelvetDress_75 is offline   Reply With Quote
Old 03-13-2009, 10:55 AM   #44
Blue Crack Supplier
 
Irvine511's Avatar
 
Join Date: Dec 2003
Location: Washington, DC
Posts: 30,486
Local Time: 12:34 PM
it was kind of stunning.

it struck me that the biggest point Stewart was trying to make was that the news and "reporting" we get on the financial markets is similar to the "news" in North Korea -- people are given their talking points, and then told to sell, sell, sell.

and there's a cult of personality that needs to be destroyed.

i agree with FG -- bankers used to be boring. somewhere along the line in these past 10-15 years, they became rock stars. and that, in and of itself, is simply bad for the industry, and it hurts everyone.

i really don't have the knowledge to go in much deeper than this broad sort of cultural analysis, but i feel as if democracy was well served last night.
__________________
Irvine511 is online now   Reply With Quote
Old 03-13-2009, 11:03 AM   #45
Blue Crack Addict
 
anitram's Avatar
 
Join Date: Mar 2001
Location: NY
Posts: 16,288
Local Time: 12:34 PM
Quote:
Originally Posted by financeguy View Post

I remember being at a banking conference a few years ago and the guy moderating the discussion at the table I was sitting at was giving some background as to his career trajectory, basically saying he had studied psychics at a good university, ended up with a PHD, but after a few years he thought he had given the field of science everything he could, and, uh, so he decided to go and work for a bank. I thought, that's odd. You decided you had given the world of science everything you could, so you became a banker. You had a qualifcation that is only one in a million could ever get, and you go into a profession which you're probably way overqualified for. Banking isn't really rocket science, frankly. The fallacy of the last few years is to try to turn it into rocket science. Truth is, this guy probably made more money in banking and that's the real reason he left science.
I wouldn't necessarily come to this conclusion, having myself made a similar move (although into corp law and not finance) and since I know a very good number of people who have done the same.

You have to understand that university degrees have become watered down. I've said it many times here, and often people have disagreed, but bottom line, today, a BA or BS is essentially worthless except in the sense that it lets you get more degrees or that some of them have inherent value because they let you get into a profession (like nursing, teaching, engineering). Most of them have very little value in 2009 on their own. This then pushes people to get graduate or professional degrees on top of it, which further dilutes the bachelor's.

The number of grad students in science is staggering compared to prior years. The rate of success in biological sciences for a person who completes a PhD to get a tenure-track position and their own research lab is about 2%. Do you understand how low this is? So now you have the vast majority of these people ending up either in industry, or editing for research publications, or working as research associates on non-tenure track, etc. That person pretty much HAS contributed all that he or she can to science because they have no independence, they don't decide what grants to apply for and they don't dictate the direction of their lab. Sure, banking or law also happen to be more financially rewarding, but don't mistake it as the only or even the primary driving force behind this kind of switch.

It is also a hell of a lot easier to go get a 3-year JD or a 2-year MBA and go into finance or corporate law than it is to do a 7-year PhD and then a 3-year postdoc and gamble on whether you'll be tenured. It used to be that you could get a PhD in science in 3 years, that was common with all of the older tenured profs. Now it's basically unheard of to do it in anything less than 5 years, and my own head of the department said he didn't remember anyone in the last 10 years who had done it in less than 6 years. Plus the mandatory postdoc on top of that....remember that research-based science PhDs are nothing like PhDs in say, English, which are considerably shorter, considerably cheaper. Although those can be even worse since there are more students getting them.
__________________

__________________
anitram is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -5. The time now is 12:34 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Design, images and all things inclusive copyright © Interference.com