Defending Jim Cramer: Don't take entertainers too seriously

If you have been following Wall Street news the past two weeks, you can't have missed Jon Stewart's trashing of CNBC, video clips and all. On Thursday, Stewart dragged James Cramer into the fray, showing various video clips of his blatantly bad calls.

Stewart has been roasting CNBC mercilessly and for good reason. The business news channel has been been a great promoter of all that is Wall Street with nary a criticism, and ignored investigative journalism altogether. This is not leadership in business news; it's cheerleading disguised as journalism.