Last week, a media brawl broke out — Jim Cramer responded to The Daily Show’s attack on the CNBC enterprise by taking direct offense, raising a lot of attention and opinion in the news, and new-age public mediasphere. Jon Stewart’s claims that CNBC was incompetent were met with ample resistance from Cramer, who took to the entire NBC network to respond publicly to the comedian.

Accusations of Cramer’s fraud dug up a recording from 2007, as well as quotes from his published books outlining his methodologies and manipulation of the stock market; a situation which correlates successfully with the outstanding public opinion of the financial industry.

Tonight, in what the comedian referred to as “Brawl Street,” Cramer, a “big fan of the show,” took the opportunity to respond directly to the comedian — an opportunity offered to all too many politicians and a lesson better learned. Historically, politicians and public figures who have been heckled by Stewart have been offered the opportunity to appear — and be further ridiculed — on the show to “clear their name.”

Cramer appeared on Martha Stewart’s TV show earlier in the day — being told to “pretend this is Jon Stewart,” when kneading the dough. Stewart made a number of jokes about Martha being a convicted white collar criminal.

“The news industry is not only guilty of a sin of omission, but a sin of commission,” said Stewart speaking of the conflict of CNBC’s media power — and gaming the market.

Cramer and Stewart discussed Cramer’s manipulation of Apple’s stock, reviewed a number of clips and quotes from Cramer discussing his fraudulent, deceitful or manipulative activities and vehemently attacked the advertising strategies used by CNBC to build faith in Cramer’s opinions — opinions many believe are in fact carefully crafted to influence stocks he and his cohorts hold.

“I want the Jim Cramer on CNBC, to protect me from that Jim Cramer,” said Stewart in response to the video, calling Cramer’s “adventures” as “ethically dubious,” suggesting they’re reliant on the front end market running shenanigans encouraging laymen to invest in pension funds, etc., while the backend plays “games” with your money.

Citing the entire video, Stewart called out the entire market of financial entrepreneurs saying that the entire network, financial media and ‘experts’ knew exactly what was going on, swearing at Cramer, telling him that “making finance interesting” is different than “playing a **** game.”

“You can draw a straight line, from those shenanigans, to what is going on at Bear Stearns and AIG.”

Cramer’s voice rose in pitch exponentially, as Stewart essentially accused him of too little, too late. When Cramer attempted to glorify his “pantsing of CEO’s on his show”, Stewart cut him short by telling him “this show ain’t about you.” Stewart got increasingly angry at the concept of a financial industry built on lies and deceit, “who are you responsible to? The people with the 401k’s or the guys on wall street?”

Cramer’s response was to attack regulators, particularly the Federal Reserve, and the fact he has been lied to by industry professionals and head-figures. It’s unfortunate, Stewart said, that Cramer was forced to become the face of what is in fact a financial industry based on non-market value; focusing entirely on the fact ‘work’ — though perhaps missing the value of what economists refer to as capital rent — as the real source of financial value.

The feud was, in theory, finalized with a deal offered by Stewart. “Maybe we can remove the ‘financial expert’ and ‘In Cramer We Trust,’” he said, “and get back to real reporting and I can go back to making fart noises and funny faces.” To which, Cramer responded “I think we make that deal right here,” and shook Stewart’s hand.

Viewers have already been seen to be calling the episode of Stewart’s show as “a Top 10 television moment,” complimenting Stewart on his ability to rip in to the financial industry and inserting quips about the comedian “reporting more facts than the news networks,” as some Twitter users are currently saying. Though Cramer attempted to justify his positive padding of stock predictions by claiming there was a market for it, to which Stewart responded by saying the very same thing about “cocaine and hookers,”.

More on Jim Cramer’s financial fraud in our exposé from yesterday.

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