Sunday, March 15, 2009

Business Lost Its Cool

Michael Douglas' Gordon Gekko told us "Greed is Good," in 1987 and the idea survived the aftermath of the bubble of 95-01, mainly by getting into what became the housing bubble. However, "greed" – and the idea of making money at any cost, by any means – has lost its charm in the current economic crisis. Some derivatives of our free market system are not so good. This was made evident when Jim Cramer appeared on The Daily Show with Jon Stewart.

And the blogs went wild.

Jon Stewart appeared on Crossfire, condemned their deck chair arrangement on what appeared in the fall of 2004 to be a Titanic political ship of state – little did we know then – and the next thing you know, the show is off the air. America got itself stuck in another no win situation and who was eventually caught in the crossfire? Seemed their political bantering became so irrelevant and Stewart deflated all the gas out of the gas bags and suddenly CNN had no show to show.

And now he and his show have attacked CNBC.

His attack is on CNBC for not reporting at least something of the coming collapse struck a cord with the fashionable cognoscenti. I mean how could something so big go so unnoticed? Others saw it coming or saw something coming. Krugman at the NYTimes kept commenting on when the bubble was going to burst. As Stewart said, they were part of the problem not part of the solution.

Are they a news organization or a bunch of cheerleaders?

Jim Cramer and his friends no longer get to sit at the cool table with all the cool kids. Business has lost its cool. Business is a bunch of geeks and nerds who were never really cool but appeared that way for a short period because they were successful. But they are not successful now.

In fact, they got us all in a lot worse situation than before. How cool is that?
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