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Stewarts CNBC Takedown

This is ironic how the CEO's of all these companies are trying to cover up and convince the public that their company is doing fine and will be fine in the future. Basically the public is being lied to and it is hurting the public. The CEO's make it sound like everything is going to be alright, so do not worry if you have some connection to the company. Then you have Jim Cramer telling the public "buy buy buy," when stocks are low because you can make money in the future. Then these companies go under and the public is in a lost. Then you have home owners that went out recently got loans to buy a house and now are losing the house because they cannot afford the payments anymore. They public wants to know why their payments went up. Now it does not matter if you have perfect credit and a large down payment you are going to have a lot of trouble getting a loan for anything right now. Then you have the loan companies working with the public to work out payment plans for their mortgages. They companies will pretty much do anything to get you to be able to pay them some of the money because if they take your house they are losing money. They public needs to start reading the loan agreement know exactly what they are signing.
It is sad that it takes a Comedy Central show like the Daily Show with John Stewart to actually show the real side of the economy to the public. Most people are experiencing hard times due to the economy falling. The public does know what is going on. But to have someone actually sit down and research it and inform the public of something’s they may not know, and actually have evidence to back it up and support it. This is being done by a comedy television production, think that is a little ironic. This is pretty ridiculous. Yes, journals and news papers do not have the opportunity to put videos together to back up what their article is about but the still need to research the thing they are to be writing about. This is getting harder and harder because the companies are losing employees due to cut backs because news papers are becoming less useful and unnecessary. This is just becoming a vicious circle of things going downhill. The public needs to look farther into major choices in their life, like signing for loans.
Serr0069@umn.edu

Comments

I am not sure that I agree with your views that in some ways, it is doleful how it takes a comedian to make people realize the economic situation. I believe that there are a lot of other sources, i.e. CNN or Fox News that researches topics of the like and reports it on a consistent basis. CNN for example, always have headlines streaming on the bottom of the screen. Any information is easily available. It is the comedian that actually plays off of this source. I believe that the only reason these sources might get more attention is because of their uniqueness of presentation. John Stewart obviously presents the subject in a matter that differs from CNN, but the fact is that people can get more accurate facts from CNN.

I do agree with you that newspapers (which provide one useful way to conveying this topic) is becoming obsolete, and therefore internet resources such as online videos are becoming the norm. In turn, people might be more susceptible to falsely provided information. Also, I agree that people need to be more careful about their financial decisions. Greedy business owners (such as employers of AIG who received millions worth of bonuses) will continue to want more cash flow into their pockets, and whether or not the country is in a recession or a boom, their get rich schemes will likely not cease anytime soon. The public needs to be properly informed about the economy and given suggestions on how to properly manage their finances.

I agree with your position towards this article. I think it’s sad the public is being informed by a comedy show, But if he is the only one providing the media on the issue then what can you do about it. This comedian will only be beneficial to the people who watch his show. The media is just like Jim Cramer so quick telling everyone to “buy buy buy” with the TV, newspapers, radio, and all the advertisements. I don’t want it to make it seem like I’m putting all the blame on the media because people can try and read more about information that going on that effect the economy in different aspects and keep themselves informed. So they won’t have to worry about mortgage companies and banks getting over on them. Although what you’re saying is true but this happen in different situation too, but to a certain extent. For example that’s like when you advertisements on the television they tell you the positive effects and why you should use it, but in very small print that’s barely visible they tell you the negative effects.

I would have to say that I agree and disagree with some of your statement that you made on your position statement. I do not think that it takes a comedian to have people realize what is going on in the economic situation today. I just think that people today are not up to date with what is going on in the economy. Jon Stewart presents the subject in an easy-to-understand manner that is different from CNN. However, the fact is that people can get more information on the economy by actually listening to news programs on networks like CNN.

It may be true, however, that it takes someone like Jon Stewart, who specifically cited the woes of his retired-aged parents in the current situation, to address what the general public feels. Although The Daily Show’s expressed intent is to find humor in the news of the day, its most prescient moments are when it takes on the news media. This is what was so important about The Daily Show’s coverage this week. The Daily Show’s analysis of the financial crisis could never be thorough enough to actually inform because of its role as a comedy show. Instead, it has taken on the role of holding the news media accountable for not informing the public when it is their job as a member of the fourth estate. Many have compared Jon Stewart’s Jim Cramer interview with his Crossfire appearance. In both instances, he lambasted members of the media for not fulfilling their role to inform the public. I believe this is what was important about Stewart’s coverage of CNBC ; they had fundamentally let down the public.

I do agree with you on the part of newspapers are becoming obsolete, and that the internet resources are becoming the norm in today’s society. I agree also that people need to be more careful what they are signing for their financial decisions. The public needs to become more informed which requires a willingness on their part to pay attention to the news. By being informed in the economy people may know how to properly manage their finances.