CNBC’s Jim Cramer (left) beats some dough — o!, the irony — on today’s “Martha Stewart Show.”
CNBC’s Jim Cramer has been getting the beat-down from “The Daily Show’s” Jon Stewart for a week. Stewart has used clips of the manic money man to point out Cramer’s advice to buy Bear Stearns stock … shortly before the company’s debacle. Stewart’s also been asking the general question: If we have a 24-hour financial news network, why didn’t any of these analysts and experts clue into the country’s financial meltdown before it happened?
Today, Cramer got financial advice from another Stewart … Martha! Clips coming shortly; meanwhile, we have this transcript …
MS: Everybody is watching Jim Cramer too by the way, including Jon Stewart.
JC: You are a close observer of my show.
MS: Now they are having a very big controversy. What’s going on – tell us about that.
JC: Well I made a series of statements about how I wanted the president to do a different order of things. I happen to support his agenda. Then, my network came under fire from Jon Stewart saying that maybe we were too gloomy, different things that he didn’t like, and particularly criticized some calls I made. I’ve made a lot of bad calls.
MS: But you said you didn’t want the banks nationalized.
JC: No, that would be terrible.
MS: Sure would. And that you did support Obama’s programs.
JC: I’m a life long Democrat. There isn’t a part of his agenda I don’t support.
MS: And what about the car industry.
JC: We gotta save it before we start worrying about other things. It’s sequential. We gotta put people to work, we have to make people feel more confident. We have to make so that there is a sense that your bank isn’t going to go away. And once we have things on an even keel, then he can do whatever he wants. But let’s win the war against the bad economy.
MS: And so Jon Stewart, what did he take umbrage at? I like Jon.
JC: Are you kidding. This is killing me. My kids only know I have a show because Jon Stewart is skewering me. ‘Dad’s got a show! Holy Cow!’ No he’s the best there is.
MS: I thought you were going on tonight.
JC: I am.
MS: Oh you are.
JC: And I’m a little nervous.
MS: Have you been on before?
JC: No. How bad is it going to be?
MS: You should be nervous.
JC: Is he going to kill me? (laughing)
MS: (Martha Laughing). He’s fast as lightning.
JC: I’m slow as molasses.
MS: Ah, no you’re not. But I would take the banana cream pie we are going to make a little later on.
JC: I need some weapons, right. He’s got phalanges against me.
MS: You can either feed it to him if he calms down or you can throw it at him.
JC: Well it’s his home turf so I will pay homage.
MS: It’s a very chic studio too. Very chic. Modernist. 1950s.
JC: Can I tell him that you said it was ok that I was on.
MS: Oh definitely. I love Jon Stewart. I think he’s great. I think he does what twittering does in a way because he’s reaching a vast audience that never, never, never paid attention to the news before. You know, college kids. But rather than getting always news, their getting commentary.
JC: But that’s what I try to do..The reason why it’s been so hard for me, the attacks, is that I early on I patterned my show off of his which is that you can do an entertainment business show. And then to be suddenly attacked by a guy that’s your idol makes it difficult.
MS: Well you tell him all that tonight. I can’t wait to see this. Oh, boy.
JC: I mean he’s going to be standing there giving me the business, I’m going to have to fight back. I’m not a doormat. Do I impress you as a doormat?
MS: No way. That’s why I’m going to watch. That’s why everybody in the world is going to watch tonight.
MS:We’re back with the host of CNBC’s Mad Money Jim Cramer and I’m going to show him how to make a banana cream – now you’ve never made a cream pie on your show but you have thrown a pie.
JC: It’s an appropriate weapon against a lot of the CEOS who rip you off.
MS: How many pies have you actually thrown?
JC: Probably about 20.
MS: And where do you get your pies from?
JC: From a local bakery. They explode well. There’s a maximum spread which is what you need from a good pie.