Thursday, March 05, 2009

Daily Show takedown of CNBC

In case you missed last night's Daily Show with Jon Stewart:

CNBC was a cheerleader for the entire mortgage-and-securities bubble. As the bubble popped, they downplayed the seriousness of the situation. They unquestioningly swallowed the crap being fed to them by crooked CEOs and regurgitated it back to their viewers. They gave their viewers lousy stock advice. And now that the network's credibility has been otherwise shattered, screaming CNBC lunatics like Rick Santelli and Jim Cramer want to blame the crisis on an administration that's been in power for a bit over six weeks now. Props to Jon Stewart for calling CNBC out on its bullshit.

The entirety of last night's show is worth watching.

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