made me think that Jim Cramer is the Ollie North of CNBC. He used that same kind of "gee, I'm a nice guy - yes, I did it - but I'm a good American now - no excuses, no need to defend myself" attitude that makes reasonable questions almost seem overdone. By appearing but not fighting back, Cramer purposely looks weak and defenseless - Stewart scarcely avoided looking like the bully. Which is of course, a ridiculous interpretation, but that was the kinesthetics of it. Very cagey on Cramer's part and the only way I could see for him to come out looking halfway reasonable to the audience that follows him.

Cramer has clearly trod through the ethical swamp where journalism and finance meet, and understands these things to a far greater degree than he's getting credit for in the lefty blogosphere, where there's a lot of easy cheerleading going on right now for Stewart. (Especially considering that Cramer was never schooled as a journalist, he seems to Get It more than most people walking around with that job description ("journalist") on their nametags.)

I hope Bob Somerby (The Daily Howler) takes this one on, because it deserves way more than a single comment on a blog to cover it all.

Both Stewart and Cramer came out bruised on this one, but the byproduct was a frank, compelling airing of the crisis which benefits everyone, and which has needed to happen for years, but which the SCLM has not dared touch. Another "White House Correspondents Dinner" moment, but not for all the reasons bloggy liberals think it is.