Following Rick Santelli’s Rant Heard Round the World, he was booked on TDS with Jon Stewart. There was apparently a last minute cancellation, and now, there seems to be a very nasty pissing match between CNBC andThe Daily Show.

Didn’t the John McCain/Letterman snafu teach people anything?

Years ago, the expression was “Never pick a fight with people who buy ink by the barrel” (meaning newspapers).  The modern, updated version is “Never pick a fight with people who have ascerbic, award winning comedy writers, a broad TV reach, and a strong internet presence…”

I would love to be a fly on the wall in whatever PR meeting takes place about this today…


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Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

99 Responses to “Daily Show vs CNBC”

  1. Scott F says:

    OMG, that is frickin’ brutal.

  2. cvp says:

    I happened to see this. It is truly a gift to all the CNBC haters.

  3. mainstreet says:

    ” Truth is in the joke ” !!!!!

  4. skardin96 says:

    I stopped taking these business news shows seriously a long time ago….these are entertainers not investors the second they step in front of a camera.

  5. JasRas says:

    Ha-Haaaaaaaaa! (in the voice of the bully on The Simpsons…)

    Thank you Jon Stewart. Now if they will only stay on this for a week or two, like David Letterman did with McCain, they can truly have an effect!

  6. John from Concord says:

    A lot of people thought Stewart would kind of flounder after the election, without Bush et al to kick around anymore. He is really finding a voice on this thing, though. Don’t underestimate the effect he could have after a month or two of this…. he is sharp, he comes up with compelling frames for issues, and he is watched by folks who “shape the narrative”, as they say.

  7. ottovbvs says:

    OMG this was brutal….it was beyond brutal…..Stewart may have breached the Geneva Conventions…..It was hard to choose the favorite moment…..Cramer is almost too easy a target……Sir Goldilocks is even more stupid under a veneer of expensive haberdashery……but I particularly like Snow Bunny Bartiromo’s winsome little giggles……

  8. I will let y’all in on a little secret: TDS bookers and writers are regulars here at TBP . . .

  9. doug says:

    I want to read CNBC_Sucks comments on this. Must be ecstatic?
    Thanks. I would not have seen it otherwise..

  10. ottovbvs says:

    doug Says:

    March 5th, 2009 at 7:47 am
    I want to read CNBC_Sucks comments on this. Must be ecstatic?
    Thanks. I would not have seen it otherwise..

    …….I’ve already seen it at a couple of blogs I visit each morning…….This will go viral……as you say BR I’d love to be a fly on a wall at CNBC this morning……In a way its linked to this little Limbaugh controversy…..Who the hell are these media personalities who either have agendas or in some cases the intellects of mice to be performing brain surgery on the economy and society in general by sound bite…..Anything that strikes a blow against the dumbing down of society, particularly when it revolves around money, is to be applauded.

  11. phb says:

    Stewart’s summary at the end of the Stanford interview is priceless! Thank you!

  12. jmf says:

    Moin from Germany,

    make sure you watch also the following clip….. “The Dow Knows All”……

    Almost as good……

  13. Hume says:

    Criticism of CNBC is on the spot, but criticism of Santelli is not. Heck, prior to this he was best known for his “duel” with Cramer and his rants against bailouts of Wall Street giants.

  14. try2bamused says:

    Two years from now, when the SPX is 150, GE is 0.50 and you can head-count the number of CNBC viewers, expect a format change there, to classic rock, or maybe to golden oldies, either of which would be more informative than the Romper Room standard of journalism practiced there now.

  15. Hume says:


    I was a fan of The Daily Show but gradually I realized that Stewart and his crew are just trying to pose themselves as above everyone else, while in reality they are down in the mud with the rest of the rats.

  16. krice2001 says:

    You got to love John Stewart. Clever, current and fast. I recall a statistic some 18 months ago or so that more than 20% of 18-49 year olds reported they got most of their knownledge of current events from The Daily Show. It’s interesting when progams and stations that are supposed to be news become more entertainment (e.g. CNBC) and shows that are on stations like Comedy Central become the news…

  17. barrister999 says:

    How embarrassing for CNBC. Now the whole world knows what readers of this blog have known for a long time – CNBC is nothing more than a haven for Wall Street pimps and cheerleaders . . . perhaps this will be required viewing for their reporters so we don’t get inane questions like “is it fun to be a billionaire”. I too would rather fly to Davos, interview CEOs in my pretty outfits, than do some real investigative journalism, like try to understand the extent of AIG’s ‘credit default swap’ fraud on the entire world. Like most on this blog, I no longer watch CNBC. CNBC is the National Enquirer of financial journalism!

  18. AndrewShaw says:

    The Daily Show still gets it.

    About the only thing Jon Stewart has ever disappointed me on, and this is probably because he didn’t have his writers to back him up, was when he went on a hissy fit on a CNN interview denying that he was a real journalist. I guess the denial just fit his agenda for that moment in time, but it was utter bullshit. [BR: He is not a real journalist, he is an outraged stand up comedian]

    Stewart and his show(writers amongst us, you are the best in the biz too) have absolutely raised the bar on journalism because they are the best in the business, unfortunately no one else has tried to raise themselves to that level. (Truly questioning an interviewee? Following up on non-answers? We can’t do that, so I’ll ask him what his favorite flavor of ice cream is.)

  19. HEHEHE says:

    In defense of Santelli, and ONLY Santelli, he has been the sole voice of reason on a CNBC network of bubbleheads and money honey’s. He has repeatedly stated his opposition to the various Wall Street bailouts and rescue plans. Having said that, I look forward with great joy watching the increasingly dejected faces of the CNBC network as the stock of GE swirls down the toilet towards their inveitable bankruptcy or government bailout.

    You’re a genius Jack Welch!!! Great job turning an industrial conglomerate into another failed financial co. Kudos! Of course Immelt is holding the bag so what do your care:)

  20. Moss says:

    Absolutely priceless. This is what we need. Public shame. They could make a series out of Cramer and Kudlow alone. I only wish that they had Boyer on tape saying something as well as Laffer and Westbury. They should use the Talking Heads song ‘Burning Down The House’ as a the theme song. It is time to expose the frauds for what they are.

  21. HEHEHE says:

    Frauds puts it too mildly; crooks is better, they should be arrested for aiding & abettting.

  22. Quantum Mechanic says:

    Hey, CNBC, where’s my rant??? Why does the taxpayer have to issue bonds, pay 2-3% interest on them and give the money to Citi so that Citi can lend me back MY money at 20% interest? Where’s my rant, Santelli???

    If I could, I would replace that stupid charging bull they have on wall street with a working guillotine, to remind these santellis on a daily basis what happens when the voiceless citizen reaches the end of the rope.

  23. Katie says:

    It’s a bit unfair in respect to Santelli but it’s really funny.


    BR: Agreed

  24. yes, it is too bad that Santelli is serving as the icon to be ‘-clasted’, though CNBC, certainly, deserves this, and, hopefully, many more to follow..

    as an aside, anyone else notice the similiarities between Made-off and Stanford? Both, too florid of face, too “I’ve it soo made..”, hardly the ‘excellent chap, well-met’..

    who trusted either one of those people? I mean really, they make noone else’s skin crawl?

  25. eric davis says:

    If CNBC had any journalistic integrity, they would be embarrassed that Their Reporters have become the story. If there was any integrity at cnbc, they would fire some people. But they are just talking heads, Bemoaning things they have no idea about.

  26. number2son says:

    Santelli deserves the scorn. While he was alone among the CNBC clowns in seeing this coming, he still would rather blame the problem on ordinary people who are suffering than the people truly responsible for this crisis.

    Too bad he blew off TDS, he may have been able to explain himself.

    That clip of Maria B and Thain sums up the culture of greed and incompetence better than any 5 sec segment I’ve yet seen.

  27. ottovbvs says:

    Hume Says:

    March 5th, 2009 at 8:20 am

    I was a fan of The Daily Show but gradually I realized that Stewart and his crew are just trying to pose themselves as above everyone else, while in reality they are down in the mud with the rest of the rats.

    ……It’s an entertainment show for godsake but Stewart is very clever and very good at framing issues…..In this case the issue, since you don’t seem to be able to see it, is that a bunch of total buffoons who talked up the market for years….and made totally preposterous calls on individual stocks…..are now giving lectures on ……wealth destruction.

  28. Andy Tabbo says:

    I Love It…I Love It…I Love It.

    That was a grade A colossal blunder to not show up for that show. I think Santelli/CNBC knew if he showed up they were going to be in for a debate with Stewart. I think they were ducking a fight. You have to at least show up to the fight…and have the debate…

    CNBC is such an easy target to make fun of….80% of what gets said or advised on air can be shown Incorrect within days. The real goal of CNBC watchers is to figure out the 5-20% of advice that’s actually decent advice.

  29. ottovbvs says:

    number2son Says:

    March 5th, 2009 at 9:39 am
    Santelli deserves the scorn.
    Too bad he blew off TDS, he may have been able to explain himself.

    …….Either he or his bosses realized he was going to be taken apart…at the end of the days he’s just another media bloviator

    That clip of Maria B and Thain sums up the culture of greed and incompetence better than any 5 sec segment I’ve yet seen.

    ……..This was the one for me…….The snow bunny and financial expert gives Thain a hard time on the piste….it is hilarious.

  30. ottovbvs says:

    “they would be embarrassed that Their Reporters have become the story”

    ……..CNBC and NBC made their reporters the story when they puffed Santelli rather than reprimanding him.

  31. ComradeAnon says:

    C stands for Comedy. How much longer until GE decides it’s time to make a few changes in their subsidiaries and says CNBC has too much dead weight?

  32. ottovbvs says:

    Moss Says:

    March 5th, 2009 at 8:37 am
    They could make a series out of Cramer and Kudlow alone.

    ……..Too true……total buffoons or in Kudlow’s case buffoon/shill……Santelli has fans here but I’m not one of them……the rabble rousing grandstanding from someone whose supposed to be a responsible journalist was totally out of court…..CNBC should have rapped him over the knuckles but they took the shortsighted view that any publicity is good publicity and it’s coming back to bite because it’s tarnishing their brand as I knew it would……If Stewart runs with this as he often does when he strikes gold…..there are going to be a lot of headaches in the CNBC exec suite.

  33. Mannwich says:

    Wow, I haven’t laughed like that in weeks. THAT is hysterical. Sadly so…..

  34. As others have said it was a little unfair to Santelli. Before the rant he was about the only voice of reason on CNBC.

    The money quote “If I’d only listened to CNBC I’d have a Million DOLLARS!!! Provided that I started with $100 million.” Oh boy, that’s funny.

    Separately. I don’t see how we don’t bounce more tomorrow. Everyone’s lowering expectations on jobs tomorrow, whisper # seems to be getting above 800k. Anything less than that probably pushes us up a bit – IMO.

    Still long for a little trade.

  35. DC says:

    It would please me beyond measure if Larry Kudlow would run for the Senate. His ego is sufficiently inflated to qualify for the world’s most exclusive club, and he wouldn’t even be the biggest Republican moron if he won. That title will continue to rotate among guys like Jim Bunning and Tom Coburn.

    If Kudlow were somehow elected Comedy Central would probably have to dedicate an entire nightly show to his raving stupidity and cultish worship of Saint Jebus Reagan.

  36. otto,

    when was it that every Reporter automatically became a “Journalist”?

    Journalism used to have Standards, ask Pulitzer–one can still see his words, at least, inscribed on CSJ’s walls, if not on their graduates..
    “Ironically, many historians today consider the man who endowed the most prestigious honor in the journalism profession a sensationalist and opportunist. Pulitzer himself claimed to have the highest standard of ethics for his newspapers: “When you go to New York, ask any of the [reporters] . . . and you will see that accuracy, accuracy, accuracy, is the first, the most constant demand I have made on them.” 1

    Somewhere between these two views lies the truth about Pulitzer. This paper will seek …”

  37. Ny Stock Guy says:

    Happy to see the DS is putting it to these a-holes. It’s good to have a voice of reason out there besides this blog.

  38. 1001 says:

    Jon Stewart is a complete joke

  39. bri says:

    the best 8 minutes i’ve spent online ever.

    thank you.

  40. CharlesHarris says:

    Insightful comment there.

    Well I guess we all know what Erin Burnett’s screen name is.

  41. number2son says:

    Jon Stewart is a complete joke

    Said the GE P.R. flack.

  42. jvizer says:

    CNBC surely is a cheerleader for wall street with their calls for bottoms, “silver linings” etc. But they also have raging bears on frequently and frankly have to fill up about 12 hours a day with market commentary. The anti-Santelli screed is completely unwarranted as he has been against all bail-outs, while the hit-job on faber and gasparino was over the top as they always qualified their reporting with “according to managers.”

  43. Andy Tabbo says:

    For me the best moments were Maria the snow bunny cooing about business prospects and the final shot between Quintanilla/Stanford….priceless moments….

    @1001: Work for CNBC?

  44. franklin411 says:

    Barry, Great stuff!

    Maria the snow bunny? Have you seen her in a full shot lately? She’s more of a snow walrus!

  45. Andy Tabbo says:


    Sort of agree with you, Stewart was dropping a lot of bombs there and there were some civilian casualties….I think as he starts mining the vast universe of bad advice and shitty reporting from CNBC, he’ll hone the attacks better…

    Can’t wait till he gets a hold of Erin Burnett reporting on the miracle economies of Iceland, Russia and Dubai….or the footage of E.B. riding the bull outside of the NYSE….

  46. Byno says:

    I didn’t find that funny so much as a brutal takedown of CNBC. And JS didn’t even touch on the Fox-lite aspect the network has taken on in recent months.

    The problem for any financial news network, though, is that if you truly know what you’re doing, you’re not going around sharing that know-how. Sure, Warren Buffett will appear on CNBC in hagiographical fluff pieces, but only he and maybe a couple of guys at Legg know how exactly he goes about world-beating.

    IMHO, if CNBC wants to stay relevant to the investing community in the future, it needs to stop worrying about making stock picks – something most guys with MIT PhDs can’t do consistently – and slurping CEO/CFOs, and a lot more time trotting out Roubini, Krugman, Taleb, etc. to talk about macro, the nuts and bolts of what makes great companies, potential landmines, etc.

  47. Andy Tabbo says:

    byno: “Sure, Warren Buffett will appear on CNBC in hagiographical fluff pieces…”

    hagiographical…..GREAT WORD.

  48. Transor Z says:

    Seeing JS take on CNBC and crush their heads feels like the cavalry arriving. Or like watching Zorro go to work on some overweight corrupt official’s trousers. Or like somebody in our democracy actually paying attention.

    “I find cheap populism strangely arousing” = awesome.

    As for Santelli, maybe unfair but when ya lie down with dogs…

  49. Matt SF says:

    I’ve been a CNBC viewer for 11 years. Never would I have imagined it would be a turned into the “I’m talking, let me finish, or I’ll talk over you” network. Might want to replant those mustard seeds b/c longtime viewers like me have moved to Bloomberg. Only decent shows on CNBC now revolve around Fast Money and Squawk Box.

  50. EAR says:

    This is great, great stuff.

    Too bad Adami from Fast Money got mixed up in it though. He’s better than most of them over there. [BR: Agreed]

    Santelli called out the President specifically. He could have used more tact, something that severely lacking at CESPNBC.

    He wanted the attention. He got it, for better or for worse.

    Santelli et al should better understand that we’re in the midst of an unprecedented situation here that is moving with ferocity and velocity (like my Walt Frazier?), we need a more measured approach to covering it. It’s about the markets’ impulses, not yours. Just give us the damn scores and statistics and drop the political antics.

  51. @1001: Work for CNBC?

    Depending on how the comment by 1001 is read that could actually be a compliment

  52. Andy Tabbo says:

    I think with the way they pumped up the Santelli “rant heard ’round the world” bullshit…and the general desperate attempt to create controversy on every segment, CNBC has “jumped the shark.” I’m guessing that CNBC ratings have no where to go but down.

    From Wikipedia:

    Jumping the shark is a colloquialism used by TV critics and fans to denote that point in a TV show or movie series’ history where the plot veers off into absurd story lines or out-of-the-ordinary characterizations, particularly for a show with falling ratings apparently becoming more desperate to draw viewers in. In the process of undergoing these changes, the TV or movie series loses its original appeal. Shows that have “jumped the shark” are typically deemed to have passed their peak.

  53. jwc says:

    Wow, just wow. It was one of the best Daily Shows, will be a classic. Funny, funny. I hope he keeps on hitting them. Actually, if Santelli had showed up, Jon is almost always polite and nice to the people he interviews. Even when you know he disagrees with them.

    The interview with the reported from the NYT was also devastating. Jon showed that he had some understanding of the AIG mess. Their discussion of AIG made more sense to me that anything I have seen on TV. And some of the comments during the interview re the CNBC folks was hilarious. Worth tons of bad PR. Those kinds of characterations tend to stick.

  54. aperian says:

    so because santelli works for cnbc he is an idiot?? because he stands up to the liberal bs bailout the idiot homeowners we attack him. because our gov bails out the banks it is ok to bailout subprime homeowners…

    how about fuck you john stewart….

    giving money to the banks was wrong…giving money to overleveraged homeowners is wrong..this is why we will fail……we attack the people that are right…..dont tase me bro…dont question and dont get involved or you will be attacked.

  55. Gomer Peel says:

    @Matt SF: “Never would I have imagined it would be a turned into the “I’m talking, let me finish, or I’ll talk over you” network.”

    Amen brother. Speaking as an occasional guest, that is the most annoying aspect of CNBC, and why many people have stopped appearing there altogether. CNBC’s attitude is that they are doing you a favor by giving you air time. But they forget that there is no benefit to the guest when the format is hostile and tends to make one look like a schmuck. Charlie Gasparino is the worst offender, and I personally know a half-dozen people who won’t appear with him. But the others aren’t any better.

  56. Mannwich says:

    @aperian: Is that you Santelli? My, my, my, someone’s a tad upset.

  57. ottovbvs says:

    Mark E Hoffer Says:

    March 5th, 2009 at 10:14 am
    when was it that every Reporter automatically became a “Journalist”?

    ….They are synonymous although I know from our exchanges the other day that Thesaurus isn’t part of your regular daily reading… And I’m sure Santelli considers himself a journalist
    Main Entry: reporter
    Part of Speech: noun
    Definition: person who informs
    Synonyms: anchor, anchorperson, announcer, columnist, correspondent, cub*, editor, ink slinger, interviewer, journalist, legperson, newscaster, newshound, newsperson, newswriter, press person, scribe, scrivener, stringer, writer

    1001 Says:
    March 5th, 2009 at 10:19 am
    Jon Stewart is a complete joke

    …….Since making jokes is Stewart’s job he must doing a good job.

  58. Mannwich says:

    @otto: I would also add that if Stewart’s pissing off the wingnuts, then he’s doing a damn fine fabulous job.

  59. ottovbvs says:

    aperian Says:

    March 5th, 2009 at 12:19 pm
    so because santelli works for cnbc he is an idiot??

    …….Er yes… got it he works for CNBC…..He’s not Al Sharpton…..His role is not to lead the storming of the Winter Palace…it’s to present info in a factual and objective fashion……I can tell by the even tenor of your language that you want to lead the revolution which is fine…..but you don’t work for CNBC.

  60. ottovbvs says:

    Mannwich Says:

    March 5th, 2009 at 12:34 pm
    @otto: I would also add that if Stewart’s pissing off the wingnuts, then he’s doing a damn fine fabulous job.

    …..Clearly……I actually think it’s good because it applies in a wider sense……All these jerks sounding off with bumper sticker logic need to be pilloried……

  61. CNBC Sucks says:

    I was ecstatic.

    Help finally arrived.

  62. Hal says:

    Anybody Recall Maria B hitching a ride on the Citi corp jet a couple of years ago from the Olympics back to NY-

    Santelli went off –true–but as he said later the folks on the floor screaming were not the seat holders at the merc but the order fillers–the “common” worker there to work their way up to the pot of gold.

    A lot has gone wrong but to pick on Santelli was wrong. Keeps the vast part of the population focused on the wrong problems.

    Who likes to see the execs getting huge money for screwing up not only a company but an economy?

    Why do hte brokerage houses make more money on their trading desks than other parts of the company and why not offer that to the client of the firms whose benefits are (illegally) being subordinated to the trading benefits of the firm. Does anybody remember GS going short subprime while marketing the crap to the general public.

    If stewart wanted to do a public service he would really educate his viewers. Not just arouse them with smoke screens. But I guess thats where the fame and money comes from. Its not different than wall street–just on a smaller basis and a different type of buy in.

    When you shake hands with a wall streeter, remember to count your fingers.


  63. zitidiamond says:

    In his interview with Matt Lauer last week, Santelli claimed that he had been threatened by Press Secretary Robert Gibbs. A somewhat incredulous Lauer asked Santelli to explain the threat. Santelli then says that it was actually his wife who had seen “threatening body language against Santelli” in Robert Gibbs’ person during his press conference.

    I, for one, was dissapointed that Stewart didn’t get the chance to ask Santelli if he had taken out a restraining order against Gibbs.

  64. CharlesHarris says:

    As fantasy baseball season approaches, I would love to have a CNBC draft, where each player tries to assemble the most awful team of CNBC personalities possible.

    It’s really, really hard, but for my first pick I would probably go with Caruso-Cabrera…

  65. ottovbvs says:

    Hal Says:

    March 5th, 2009 at 12:50 pm
    If stewart wanted to do a public service he would really educate his viewers. Not just arouse them with smoke screens.

    ……Apparently it’s ok for Santelli whose a journalist to arouse people with smoke screens but not Jon Stewart who is actually an entertainer although one with an edge……As far as I’m concerned Stewart performed an immense public service by calling out all these bloviating corrupt clowns at CNBC…..using their own words and actions

  66. ottovbvs says:

    “A somewhat incredulous Lauer asked Santelli to explain the threat. Santelli then says that it was actually his wife who had seen “threatening body language against Santelli” in Robert Gibbs’ person during his press conference.”

    ……And Santelli isn’t a bloviating self obsessed clown…….You can’t make this stuff up.

  67. Mannwich says:

    @otto: You know we live in strange times when some people hink it’s a comedian’s job to educate his viewers while it’s OK for for the supposed journalists to do basically none of that and many times just the opposite while bloviating and firing up and dividing the masses with simplified versions of complex issues. It’s been the wingnut Right’s strategy for over 30 years now. It’s not working anymore, but it’s all they know, so they’re going to go down in flames doing what they know.

  68. bolddan says:

    A classic. Store in a vault so it can be shown to future generations.

    The question is: why are these criminals not in jail?

    These guys are bigger crooks than Al Capone. Good old Al used a machine gun as a weapon. These crooks use something much worse. A pen.

    A person who watches this crap is not an investor, but a fool. Guess P. T. was right!

  69. willyk says:

    This a great 8 plus minutes of television. The grotesque thing with CNBC is how they flogged the rant for the next week to gain viewership. Moreover, they don’t have to be such cheerleaders. I suggest you watch CNBC World’s Squawk Box Europe which runs from 10pm-1am on the West Coast. They are anything but pimps, have reall well-informed insiders on and have called the implosion of the market with remarkable precision.

  70. Transor Z says:

    Santelli tells his mother he’s a piano player in a whorehouse so she won’t think he works at CNBC.

  71. DeDude says:

    Really stupid of Santelli to refuse to come on the show. That way they get to frame the issues, and nail him to whatever wall they want. He could have said that he was always against the government bailout of anybody – banks, automakers, homeowners. The fact that other CNBC people may not have been saying the same is no shame to a network that is supposed to present a diversity of opinions.

    Santelli’s populist ranting though is indefensible. The fact that ordinary people with limited access to information made a wrong judgement on the economy is fully understandable. The fact that the economy depends on the survival of the consumer class makes a certain amount of bailout nessesary (on less you just want to say “I didn’t put the hole in this boat”, cross your arms, put your snout in the air, refust to bail, and drown with everybody else). In a business program we need intelligent analysis of facts, not high-school level populist ranting (if you want that kind of thing you turn on Rush).

  72. DeDude says:

    Could we possibly get those clowns on the presumably real news shows to understand that it is their job to inform the ignorant not to inflame the ignorant ???

    Oh forgetaboutit – I know – their job is to make money, even if they had to sell plutonium to Iran to do it.

  73. pureguesswork says:

    Today I learned on CNBC that the reason stocks are falling and there is no confidence and people aren’t buying cars & all that sort of thing is because the average American is really really freaked out by congressional earmarks. Who knew? Thank you, CNBC!

  74. DeDude says:

    Yeah, of my good, I understand that those earmarks were almost an anstonishin’ full 1% of the latest spending bill. This is certainly the one thing that will completely sink this economy :-(

  75. Jim Dandy says:

    When did Chicago get a Wall St?

  76. Transor Z says:

    @DeDude: And here I was thinking that consumer spending was down because stem cell research is back on and Intelligent Design isn’t being taught in public schools. Or is it because of gay marriage?

    We’ve had war: 9/11, Iraq, Afghanistan

    Natural disasters: Katrina

    Plague: Obesity

    Famine: A poor woman can’t even get Chicken McNuggets at McDonald’s!

    And if you think the last two are contradictory — hey! it’s all in Revelations. Go look it up.

  77. zitidiamond says:

    Given that Roger Ailes of Fox News, is the father of CNBC, it’s not too surprising that this station would end up as the voice of the horse and buggy economy. These three card monte artists can peddle their supply side junk until the cows come home, but that doesn’t take away from the fact that their wallowing in deep voodoo.

  78. zitidiamond says:

    Yeah, I caught it. “THEIR” is incorrect. It should read “they’re.”

    And I forgot my sign-off. As Carlos Quintanilla would say, “Is it fun being a billionaire?”

  79. sabbadoo32 says:

    Dylan Ratigan and Steve Liesman are lifesavers of common sense in the sea of stupid called CNBC. Erin Burnett is good, but has gotten a bit soft since her piece in Vanity Fair.

  80. MarkDD975 says:

    I don’t think any of this is funny. It’s very sophmoric. Santelli was right and consistent. Who cares about CNBC? They’re just trying to make a buck. Caveat emptor. If the overall impact of the juvenile humorist is to distract from the negative economic consequences of the Obama policy, then it only makes me frown. In fact, it might have real adverse consequences for us all. I feel like an old fuddy duddy, but I think Barry belongs in Junior High School with his buddy Jon. It’s really sad.

  81. delilo says:

    Yawn. With all the hype around this, I guess I was expecting something. Very weak TDS.

  82. TripleSigma says:

    It is easy to make fun of people for making bad calls after the fact… but if anyone was so certain Bear, Lehman, and AIG would collapse, they would buy out of the money puts on everything and now own the world….including the Daily Show.

  83. dps says:

    CNBC claims serious journalism. Most of their “reporting” is ideologically driven – but you give them a pass for “just trying to make a buck”. Jon Stewart is a comedian, of course he’s sophomoric, he’ll be the first to admit it. The fact is the buck Jon earns has more honesty behind it than the folks at CNBC. How ’bout the negative economic consequences of the Bush Administration? You’re not an old fuddy duddy, just a hypocrite.

  84. Transor Z says:

    @ TripleSigma:

    Did you think knocking three sigmas off your handle would disguise the fact that you work for GE?

  85. MarkDD975 says:

    I haven’t watched much of CNBC for years. I don’t care at all what they claim about their journalistic “seriousness”. I don’t care what motivates them. I care what the right policy is. I don’t care what Bush did, or what motivated him; I care what Obama is doing now. I don’t care why he does what he does; I only care what he does. Santelli promoted the right policy. The right policy is the right policy regardless the failings of the person promoting it. “Hypocrisy” is the charge of the loser. Who cares about motives? I want to promote the best course of action. What should we and our government do? The rest of it (motivations, intentions, purity of thought) is crap. Please feel free to wallow in it.

    Jon doesn’t care about what we ought to do to promote liberty, he just wants to impress those weak minds who think that what really matters is what nice intentions you facsists have.

  86. Transor Z says:


    Who cares about motives? I want to promote the best course of action.

    Dude, last I checked human actions were predicated on intent. You’re out of your depth here. Back to the kiddie pool.

  87. MarkDD975 says:

    Transor Z: Jon is promoting the wrong course of action (effectively) by attacking the motivations of Santelli and CNBC. The question for rational people is not, “Is Santelli a hypocrite?” , or, is MarkDD975 out of his depth? — who cares? The question is, “What is the best course of action?” Jon doesn’t know. Barry Ritholz does. Barry should continue to promote his prescriptions (with which I agree), and should not promote Jon’s blatherings about hypocrisy. It might releive the tension now, but it really extends the pain by diverting us from the corrective actions that Barry Ritholz rightly recommends. Grow up!

  88. MarkDD975 says:

    I often disagree with Jim Cramer (he voted for O’Bambi, for example) but who can argue with this?

    “But these are issues that we have no time for now, on the verge of a second Great Depression. This is an agenda that must be held back for better times. It is an agenda that at this moment is radical vs. what is called for. I am proud to have voted for the Obama who I thought understood the need to get us on the right path, and create jobs and wealth before taxing it and making moves that hurt job creation — certainly ones that will outweigh the meager number of jobs he’s creating.

    So I will fight the fight against that agenda. I will stand up for what I believe and for what I have always believed: Every person has a right to be rich in this country and I want to help them get there. And when they get there, if times are good, we can have them give back or pay higher taxes. Until they get there, I don’t want them shackled or scared or paralyzed. That’s what I see now.

    If that makes me an enemy of the White House, then call me a general of an army that Obama may not even know exists — tens of millions of people who live in fear of having no money saved when they need it and who get poorer by the day.”

    I say again, who cares if Rick Santelli is a hypocrite? He’s right, and that is the only thing that matters to the rest of us.

  89. zitidiamond says:

    ” I understand that those earmarks were almost an anstonishin’ full 1% of the latest spending bill. This is certainly the one thing that will completely sink this economy”

    And one more thing, DeDude. John Boehner says that Obama is using the stimulus bill to distribute $500 million dollars worth of condoms to people who should simply obstain from sexual intercourse.

  90. dps says:

    For someone who “doesn’t care” what they say on CNBC you sure seem to care a lot about what’s said on CNBC – and The Comedy Channel. THE COMEDY CHANNEL! Do you get it yet?

  91. Boomer says:

    “Really stupid of Santelli to refuse to come on the show. That way they get to frame the issues, and nail him to whatever wall they want”

    Actually the real reason it was stupid was because it left some witty guys 8 minutes of TV time to fill.

  92. d4winds says:

    Stewart absolutely nails it–and is hilarious doing it. This is even funnier than the SNL stuff during the election. CNBC is getting Palinized. Couldn’t happen to a more competent crew.

  93. Rogue Medic says:

    I will let y’all in on a little secret: TDS bookers and writers are regulars here at TBP . . .

    That’ll keep you on your best behavior when they are around. :-)


    Jon Stewart is in the entertainment business. Not in the way that CNBC is – pretending to provide substance, while just trying to entertain viewers. His does not even make a pretense at providing unbiased information. Too bad Rush Limbaugh and Michael Moore are not as honest about their attempts at entertainment. Jon Stewart is a comedian. This video is funny, unless you are blinded by a need to be serious all of the time.

    If Republicans are feeling unfairly targeted by a comedy show, perhaps that should give you an idea of how many people view their platform. We didn’t lose the cold war because of Lenny Bruce. Lighten up, Francis.

  94. DeDude says:


    Identifying the hypocrites and ideologogs is actually a very important part of coming to the right policies. Nobody with a real dayjob have time to tjek out all the “presumed” facts that are being thrown at them. However, I know that anything coming from e.g., Rush is not trustworthy because he again and again has been exposed as a lyer and a hypocrit. When we can get away from basing discussions on something said on CNBC and instead base it on something said by people like Roubini we have gotten a far step towards finding real solutions – and that requires exposure og the false profets.

  95. DeDude says:

    Mark D

    What you were citing from Jim Cramer is called putting up a straw man (claiming someone want to do something or said something that they did not). He also is using cheap demagoguery to make himself look better at the cost of taking a real look at the facts and helping explain complicated matters to his simple audience. If you are so upset about sophomoric behaviour I don’t understand how you can drag out someone like Cramer as a hero. Or is is just that you get upset when the sophomoric behaviour is aimed at your side of the political spectrum.

  96. DeDude says:

    “John Boehner says that Obama is using the stimulus bill to distribute $500 million dollars worth of condoms to people who should simply obstain from sexual intercourse”

    Yes, theres a strategy that has proven itself not to work -so lets ignore the facts and follow the bankrupt GOP ideology.

  97. Jester:

    Blogs actually come close to that function as well

  98. dss says:

    Santelli is not an honorable man. He knows his stuff about the bond market, but otherwise he is just like all the rest of the millionaire reporters/anchors/pundits (otherwise known as Republican shills) that inhabit and pollute CNBC. They are even more insidious than Fox News as they push their corporatist and self serving propaganda by interviewing the various shameless crooks that got us into this position parading their knowledge to influence the suckers that watch the show. Pump and dump in it’s finest form.

  99. DL says:

    Just about the funniest bit of financial humor that I’ve ever seen.