I don't know why it continues to amaze me that most establishment media figures still do not get the point of The Daily Show. But it does. They all seem to think it's a show that takes a satirical look at events in the day's news. But it's not. It's a show satirizing them, the American news media -- i.e., the people responsible for the godawful state of American journalism over the past couple of decades. And it's not toothless, collegial, just-kidding humor. It is merciless and completely on-point. It's popular not just because it's funny, but because it's the only show calling out the American news media on their bullshit, night after night.
The reason Jon Stewart's interview with Jim Cramer is causing such a stir is because it's a potent reminder of exactly the kind of journalism we've been missing. Stewart is both telling Cramer -- and by extension, everyone in the American news media -- to do thier motherfucking job, but also showing them how their job is actually supposed to be done:
UPDATE: Minstrel Boy at the Group News Blog brings the Jacobin perspective.