Jim Cramer, CNBC to Face Jon Stewart

When I was a senior at Elkhart Central High School in Indiana, I took a journalism course with Mr. Mongion. He insisted that we stick to the facts, the who?, what?, where?, when?, how?, how many?, when reporting a story. He told us to avoid editorializing, to keep our own opinions and emotions out of a story when reporting. What my teacher instilled in his students was the journalistic norm for those times.

Unfortunately, reporting has changed a lot since then. A few decades later, news reporters regularly break those rules, particularly in bringing their own emotions and opinions into a story. During the current economic crisis, this type of reporting, unfortunately, simply ends up adding fuel to the fire. Instead of reporting the story, too often, financial reporters are now becoming the story -- which is exactly what Mr. Mongion warned us about. In so doing, these "reporters" have moved from the realm of journalism to the world of entertainment and lost their credibility in the process.

Two CNBC reporters have been violators of the basics of journalism: Erin Burnett with her opining, and Jim Cramer and Rick Santelli and their constant emoting. Whenever I watch them, I set aside my need for information and wait for the moment when they will entertain me by (a) putting their foot in their mouth, (b) making a fool of themselves, or (c) making me cringe.

Burnett, host of "Squawk Box," has requently misused her role of reporter. In recent times, she has intimated that toxic toys and food are a boon to the economy:



Even on other people's shows, Burnett can make a fool of herself. On March 6th, as a guest on Bill Maher's "Real Time," she used chocolate cookies as an example of innovation during the Great Depression and followed that irrational point with nationalistic condescension towards the Japanese:


(check around 7:30 in this clip)

Cramer and Santelli are best known for their ranting and raving. You'd think that two screamers might get along, but true to form, all they can do is yell at one another:


Well, maybe I shouldn't be surprised because it's CNBC's MO. In fact, Gabriel Winant at Salon, found that it's all they do. His editor gave him the task of watching CNBC for an entire day. Winant got tired of being yelled at all the time.

Personally, I'm getting fed up with such nonesense. It's why I appreciated Bill Maher and his guest, Peter Singer, calling Burnett out on her inappropriate comments. It's why I have enjoyed Jon Stewart, host of "The Daily Show," calling out CNBC and stars Cramer and Santelli for their over-the-top rantings. (I'll spare you these overplayed video clips...)

Cent Uygur, of "The Young Turks," nails Cramer for a basic journalistic responsibility -- checking your facts. Yes, dear Mr. Mongion insisted that we high school students make sure we had our facts straight. Why can't CNBC insist on similar basics?



Tonight, Jim Cramer will visit Jon Stewart on his show (on Comedy Central, 11:00 pm, ET):



Will Cramer try to make amends with his enemy? Will he admit he made some mistakes in his reporting? Will he state that from here on out he will follow the basics of journalism? Doubtful.

What I do hope Jim Cramer could admit is that he and Stewart share a means: entertainment. For Stewart, though, entertainment is also the objective of his show.

Cramer, on the other hand, must fess up to the fact that the outcome of his show has been much more than entertainment -- and much more dire, as well. It has been a deep financial hole dug in red soil that many people are struggling to dig out of.