You should really watch this interview. It's the culmination of a week's worth of brick-throwing on both sides that ends with Jon Stewart utterly demolishing Jim Cramer and CNBC, and Cramer pretty much totally owning up to his network's failures. I gotta say, props to Cramer who treated this interview as less of an entertainment showdown, and more of a chance to get serious and face the music.
At the very end, Stewart tells a story about his mother that alludes to something we really need to address: after all the years of compound interest and all the following market losses, would all of those people who trusted the financial community and conventional wisdom, all those who put their retirement savings in the stock market (or whose conventional retirement plans were phased out in favor of 401(k)'s), would they have been better off had they just left all that money in a plain jane savings account at their local bank? Because if so, then we seriously need to talk about the fact that 401(k)'s have now been shown to entail a huge amount of risk.