The Daily Show host Jon Stewart's methodical dismantling of CNBC Mad Money star Jim Cramer as a venerated money guru drew big ratings and sparked a storm of interest.
Jeff Zucker - Now NBC Universal CEO Jeff Zucker is defending his network over the recent criticism of host Jim Cramer and the CNBC standards, claiming the Stewart allegations were "absurd" and "completely out of line." © Sylvain Gaboury / PR Photos
Cramer's backtracking of his own credentials as a financial analyst for CNBC, while reiterating he provided financial news "entertainment" for CNBC viewers infuriated Stewart.
In response to aggressive questioning by Stewart, Cramer said that he was "chastised" and wrung his hands as he expressed remorse that the financial news network had done their work to expose rampant Wall Street corruption.
Now NBC Universal CEO Jeff Zucker is defending his network over the recent criticism of host Jim Cramer and the CNBC standards, claiming the Stewart allegations were "absurd" and "completely out of line."
"I thought it was incredibly unfair to CNBC and the business media in general," he said in a keynote appearance kicking off the 2009 Media Summit New York.
Zucker defended CNBC as having done a "tremendous job."
Zucker noted key calls Cramer made in the past. "Jim Cramer was out in front," over his call on the Fed when he said on "Today" show six months ago that people should shore up their cash.
Zucker added, "This is not a down market," noting that it was in his opinion a complete change to the finance system.
With regards to sister network MSNBC, Zucker praised the network's "incredibly strong voices and programs."
Your Talkback on this Story