Jon Stewart Deserves An Award. Watch This!

Image via Wikipedia

Remember my post a few days ago: A Plea To Jon Stewart? Well, now, Jim Cramer from CNBC was his guest last night. Please take the time to watch the videos. It's not long - it's just in three parts.

Jon Stewart deserves an award! And this is exactly what I want Jon Stewart to do with the ratings agencies. Remember my posts: Another Look At Ratings Agencies. and Rating The Ratings Agencies. Today, the Jamaica Observer ran a fantastic piece Should Jamaica Continue To Place Faith In the Ratings Agencies? Another worthwhile read.

I wish Jon Stewart would ask these ratings agencies the same kind of common sense, public interest "don't we deserve better" kinds of questions. Let's have some more admissions of guilt and responsibility. And let's get a pledge to do better.

By the way, in my post My Wish List - The New Global Financial Architecture, I mentioned a "grownup" body to keep an eye on everyone else. Remember?

7. In my ideal world, we have a "grownup" - a super stablizer body comprised of membership from the developed and the developing world. How do I explain this? We cannot go through this again. We need some "body" whose job it is to keep an eye on everyone else. Not a regulator, but some kind of independent watchdog group. Maybe the media can form a partnership with some prominent NGOs. Maybe we should start a new NGO. Whatever or whoever, but here's what this body must do:

• Some "body" to make sure all the powerful people and parties do not abuse their power - and expose them if they do
  
• Some "body"to make sure mandatory financial education is taking place, and if it is not, then expose that
  
• Some "body" to make sure the foundation is funded and is funding what it is intended to fund, and expose the financial sector if it does not make it's donations, and expose the foundation if it is not doing what it should
  
• Some "body" to make sure the free for all is over, and expose anyone getting back into the reckless behavior with no limits, no or limited audits, no or limited regulation, no or limited transparency, no or limited supervision
• Some "body" to make sure the universities lead the design of this stronger, more stable, more equitable and more sustainable global financial and economic system, and expose them if they get off track
• Some "body" to make sure domestic regulators are keeping their commitments with regard to the treaties, and expose them if they don't

Well, I nominate Jon Stewart to sit on that board.

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Unedited Interview Pt. 1

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Unedited Interview Pt. 2

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Unedited Interview Pt. 3

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

Will You Help The Huffington Post And Me?

Image by LiminalMike via Flickr

Ok, would you like to help with a very important project?

The Huffington Post is asking for your help. This is the article: Help Dig Up The Praise That Today's Bailout Bandits Once Received

Basically, they are asking you to submit "heaps of praise that newspapers, magazines and TV news shows doled out when times were good. Now that times are bad, it's even more important to remind ourselves how easily the wool can be pulled over the media's eyes and, consequently, those who consume it." Read the article for some suggested names.

According to the article:
"Email submissions+praise@huffingtonpost.com with the articles you find. Include your name, the date the article was published, and let us know if you would like to remain anonymous. "

Now, why is this an important project? Because I love the media so much - not being sarcastic - that whenever they are used to dupe us, those offenders should be exposed. Also, because I know that you should always question your information - still love the media - it's good for us to see that everything we see, read or hear is not necessarily the truth, the whole truth, and nothing but the truth.

Thanks to the Huffington Post for this excellent idea.

So now I ask you, my readers, do you want to do something for me - for us all?

Please email earnandsavenow@gmail.com with all published incidents (with date and source) of every incident you find when the ratings agencies were wrong. I have already filed away their testimony by the House Oversight Committee on October 22, 2008. If you want a quick reminder of why I care so much about this issue, see my recent post: Another Look At The Ratings Agencies and my earlier post: Rating The Rating Agencies. And just to remind you of the urgency, Moody's has now come out with 283 companies they say are at risk of default. Well, if they weren't before - this publication from Moody's won't help. And this is the precise problem, they have been wrong in the past, but people base their decisions based on whatever these rating agencies say anyway.

Maybe if I gather the information for Jon Stewart, he'll do the piece on the ratings agencies I've made the plea for. (See my blog post: A Plea To Jon Stewart)