Part of Mr. Stewart’s frustration may stem from the fact that while he clearly won the debate, Mr. Cramer and CNBC stood to profit from the encounter. In today’s television news market, that cable network and its stars are like the financiers they cover: media short-sellers trading shamelessly on publicity, good or bad, so long as it drives up ratings. There isn’t enough regulation on Wall Street, and there’s hardly any accountability on cable news: it’s a 24-hour star system in which opinions – and showmanship – matter more than facts.
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