Yes, Jon Stewart committed journalism last night, though it might be more accurate to say he just pointed out to a lousy journalist how lousy most journalism is nowadays. It would be even more accurate to say that all Stewart did was point out to an empty bloviator just how fact-free and dangerous his bloviating is.
And, great! Though I have my doubts as to how much of or what kind of an impact it will have. Don't get me wrong, I watched it in awe, it was pretty fantastic. But what does it all mean? Who knows. If it makes business coverage/entertainment of the sort that Cramer does look half as stupid as it is -- all that rah-rah stock market CEO rock star bullshit -- then that would be something positive. CNBC is propaganda for unaccountable capitalism, pretty much, and that can't be mocked enough. "It's not a fucking game," as Stewart said. And, well, exactly.
That's what the real issue is, how important stuff like the economy, war, the political process, is only ever discussed by Serious People like it's a game, where all that ever matters is who is in, and who is out, what's hot like phat pants and what's not like Dockers. And that point, while obvious, is easily missed. "Jon Stewart's cool! Let's play the game his way now!" Happy claps! Happy claps!
To wit. Here, frighteningly, is Andrew Sullivan, being, as usual, frightening:
It's not enough any more, guys, to make fantastic errors and then to carry on authoritatively as if nothing just happened. You will be called on it.
In some ways, the blogosphere is to MSM punditry what Stewart is to
Cramer: an insistent and vulgar demand for some responsibility, some
moral and ethical accountabilty for previous decisions and
pronouncements.
Braver, please. And louder.
Okay! Fuck you and your Bell Curve, Andy. Love, The Fifth Column.
Earlier in his post Sullivan says that Stewart is becoming as cool as "the South Park guys," which is kind of painful to have to read. Besides, the South Park guys -- Mark and Trippy, I think they're called -- are ultimately pretty shallow, which is why for all their bold japes and daring hi-jinks they always wind up ending their shows with a stupid "moral-of-the-story" segment in the mode of GI Joe cartoons. Sometimes they're embarrassed enough to undercut the didacticism with a poop joke or similar, but that's no more profound a statement than sniffing glue because there's nothing else to do at a dead end. What South Park does is 2/3 making fun of cliches and 1/3 making other cliches look hip.
Sullivan, of course, does exactly the same thing, only more pompously. "Braver, please. And louder." Bite me, Obi-Wan. Sullivan, of course, is "MSM punditry." It's not like Sully has the street cred of some real badass, like, say, Howard Fineman.
Which gets us back to the problem, that of getting past the game. Because the the wheel turns, and on the other side of "Stewart is cool" is the predictable "no, he's a nerd" backlash. Take, for instance, Alessandra Stanley getting sniffy about how he has "a messianic streak to his political satire," and how "it's never much fun to watch a comedian lose his sense of humor." Which is to say, it's kind of nerdy to actually care about anything, like how a financial metdown hurts people. Un-cool! Or, take Howie Kurtz, please:
"You knew what the banks were doing and were touting it for months and
months," Stewart said. "It was disingenuous at best and criminal at
worst."
Actually, Cramer didn't know. Neither did most financial
journalists. They should have been more aggressive in challenging the
highly leveraged banks, the credit default swaps, the Washington
regulatory cops who slept on the beat. But they were as stunned as
anyone when Bear and Lehman went under and AIG and Citi had to be
rescued.
Finally, Stewart hurled a charge that I was sure would prompt a
rousing defense from Cramer, who views himself as the former insider
looking out for Joe Investor. Stewart suggested that CNBC was catering
to its Wall Street audience. "Which side are they on?" he demanded.
Cramer remained meek. He had been "late" in blowing the whistle. He
agreed to improve and they shook hands. The lecture was over.
Can't have anyone pointing out that the game is a game, Howie, can we? Or else we can't play anymore. And it's fun to pretend that CNBC isn't "catering
to its Wall Street audience"!
To Be Serious, you have to play. And that's not changing anytine soon.