Just watch. Cramer will never forget this. Stewart repeatedly put up clips of a 2006 interview, in which Cramer brags about manipulating futures trades as a hedge fund manager. You can see that interview here.

Cramer deserves every bit of this, but he is by no means alone on CNBC. I remember vividly when Angelo Mozzillo brought his tan on the Kudlow show to pump Countrywide Financial, but had sold more than 300,000 share that very day. I read about the shares sale on a blog, and right there on the tv screen Kudlow didn’t even try to bring it up.

Toward the end Stewart tells Cramer that CNBC should have been talking about the Street scams all along, Never gonna happen Jon. Not on a Wall Street sponsored network, anyway.

The difference between blogs and CNBC is that those who followed the advice of bloggers were aware that the market was primed for collaspe BEFORE they lost it all in their mutual funds and retirement plans. But when the money was easy and the times were good, CNBC thrived and not many Main Street amercians paid attention to the ramblings of bloggers.

At least now the world knows what the bloggers know, CNBC is Wall Street’s Pravda.

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