Defending Jim Cramer

I wouldn’t have guessed that the likes of Jim Cramer would find a defense from the right. Or maybe it’s simply that any target of Jon Stewart must be OK. Here’s Marty Peretz at The New Republic.

On Jim Cramer: What I think has happened between Cramer and part of the entertainment industry—which the fact and opinion industry is fast coming to resemble—is that Jim is actually animated by a passion. It is the passion of democratic capitalism. That concern is very different from the concerns of the $10-20 million television comedians who ride around in stretch limousines. Those folk are happy when the people are in trouble. Even Jon Stewart and the makers of his “Daily Show” are happy. Jim Fallows, an always righteous commentator (like his ex-boss Jimmy Carter), has elevated him to Edward R. Murrow who was also over-rated in his time. The folk Cramer has been trying to help all these years with “Mad Money” are basically middle class investors…

via Brad DeLong