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An epic battle: Cramer vs. the Leibowitzes

By Laurie Bennett

May 14, 2011 at 8:47am

The brothers Leibowitz continue to haunt CNBC’s Jim Cramer.

It’s been more than 2 years since the “Mad Money” host was sliced and diced on “The Daily Show,” and he’s still smarting.

As Zev Chafets writes in The New York Times magazine, “No bad pick Cramer ever made in the market was as painful as the humiliating grilling he got from Jon Stewart.”

Jim Cramer
Jim Cramer

Stewart had ridiculed financial analysts for failing to warn investors about the practices that led to the economic meltdown of 2008. While other CNBC stars held their tongues, Cramer lashed back, then agreed to go on “The Daily Show.”

It was great theater, with a thoroughly prepared Stewart pummeling him into a bloody mess, and Cramer meekly apologizing, over and over.

“The old me would have hit Stewart with a chair,” he admits to the Times. “I’m proud I didn’t do that. I controlled myself. But maybe I shouldn’t have. Maybe I should have taken the gloves off. When Stewart talked about how his 75-year-old mother lost money in the market, I could have said: ‘Hey, your brother Larry Leibowitz is one of the heads of the New York Stock Exchange. Why didn’t he give your mom advice? Maybe I should have said that.”

Leibowitz is chief operating officer of NYSE Euronext. His brother, born Jonathan Stuart Leibowitz, changed his last name to Stewart after entering show business.

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