Cramer Changing Story Since Stewart

Media Matters After admitting culpability during Daily Show interview, Cramer now calls Stewart's criticism of CNBC "naïve and misleading".

"Summary: On Today, Jim Cramer asserted of Daily Show host Jon Stewart that 'it was a naïve and misleading thing to attack the media' for their coverage of the economic recession, just one week after acknowledging that CNBC's reporting deserved criticism during an appearance on The Daily Show."

"CRAMER: Well, I think it was a naïve and misleading thing to attack the media. We -- we weren't behind this. CNBC, in particular, has been out front on this. [CNBC senior economics reporter] Steve Liesman broke the first big, big subprime story. [CNBC anchor and reporter] David Faber did the best work that I've seen of any journalist -- print. [CNBC host] Erin [Burnett] has been at the forefront; talked about it so much we used to joke about, "Erin, how often are you going to talk about subprime?"

CRAMER: I think that there are people who bear so much more responsibility that it's just wrong-headed -- the politicians, the regulators, the SEC, the lenders, the investment banks. I mean, listen to AIG. I mean, you're going to compare the media to AIG? There's some people who really should get in line to do -- to really take the responsibility. And the media, it's just a naïve focus. It really is, Meredith.'

I agree others have responsibility too, probably moreso than CNBC. That doesn't excuse their mistakes. 'Oh a CEO lied to me what am I going to do?' I still say fact checking.