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Jim Cramer Crawls Back Into the GE Bubble

By Matthew Yglesias on March 19, 2009 at 11:01 am

"Jim Cramer Crawls Back Into the GE Bubble"

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Jim Cramer, done licking his wounds after getting humiliated by John Steward, was back on the Today Show showing no remorse, no sense of accountability, and no sense of responsibility:

The Jim Cramer story, as such, is not all that interesting. The man’s a charlatan, like everyone else out there promoting to offer stock tips. What’s fascinating about it is the extent to which the entire General Electric corporation has rallied to Cramer’s defense. You might think that the non-Cramer news personnel would be concerned that their own credibility would take a blow of GE’s news organizations invested so much time and energy in defending the reputation of a charlatan. But the elite press lives in a little universe of its own, where to work for NBC News or The Washington Post is, as such, to have credibility no matter how much time and energy NBC News or The Washington Post invest in defending charlatans like Jim Cramer and George Will. Ultimately, however, one main reason any media organization might invest some time and energy in disciplining its own celebrity talent would be pushback from other employees. And it seems that the bosses don’t get much of that kind of pushback.

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