There are two markets. One has been sold to us as long-term: “Put your money in 401(k)s, put your money in pensions, and just leave it there. Don’t worry about it, it’s all doing fine.” Then there’s this other market, this real market, that’s occurring in the back room, where giant piles of money are going in and out and people are trading them and it’s transactional and it’s fast, but it’s dangerous, it’s ethically dubious, and it hurts that long-term market. It feels like we are capitalizing your adventure — and that it is a game that you know is going on, but that you go on television as a financial network and pretend isn’t happening.
Jon Stewart to Jim Cramer (part 2, ~3:20), slightly edited from a raw transcript for clarity.
