CNBC Speechless After Being Shredded By The Daily Show

[lame54]

NEW YORK (AP) — If you make a date to be on a late-night talk show, it's best not to back out.

John McCain learned that lesson the hard way with David Letterman last fall, and CNBC reporter Rick Santelli just took it on the chin from Jon Stewart. Santelli and his network wouldn't comment Thursday on Stewart's brutal takedown during Comedy Central's "The Daily Show" on Wednesday.

Santelli became an instant online star when millions of people watched copies of his CNBC criticism that President Barack Obama's housing plan was "promoting bad behavior" by rewarding people who might otherwise be foreclosed. He was booked to appear on Stewart's show Wednesday.

But he backed out Friday, with CNBC spokesman Brian Steel saying that "we all made a decision it was just time to move on to the next story."

Said Stewart: "I guess the phrase would be bailed out."

During a report at the Chicago Board of Trade on Feb. 19, Santelli turned to those around him: "This is America. How many of you people want to pay for your neighbor's mortgage that has an extra bathroom and can't pay their bills?"

When the traders began booing, Santelli said, "President Obama, are you listening?"

"How many people would have liked to see Rick Santelli on this program," Stewart echoed on "The Daily Show," his audience responding with a cheer. "Are you listening? Are you listening, Rick Santelli?

"I have to say I find cheap populism oddly arousing," Stewart said.

Stewart then turned to CNBC itself, airing a selection of clips from personalities like Jim Cramer giving opinions and predictions about the economy that in retrospect looked spectacularly ill-informed.

"If I had only followed CNBC's advice, I'd have a million dollars today," Stewart said, "provided I'd started with $100 million."

CNBC's Steel said neither the network's executives nor Santelli would comment on Stewart's broadcast.

[blogslut]

1. I simply must post in this thread

[DeepBlueC]

2. It was a thing of beauty, wasn't it?

and it's also REAL NEWS.

[malaise]

3. They can't respond

GECNBC was paraded naked to the world. They have zero credibility. They'd better stay silent. GECNBC - EPIC FAIL!!
Jon Stewart was brilliant.

[Gabi Hayes]

4. and yet Mclaughlin Group ended this week's show with a bunch of

clips of Cramer blaming the crash on Obama (Obama-proof your portfolio, he yells!), followed by that blonde Nixonette hysterically blaming every bad thing in history on Obama's interminable term in office, with NO counter by anyone...no mention of Cramer's/CNBC's evisceration at Stewart's hands

now I remember why I don't watch crap like that any longer

[oustemnow]

30. Yeah, the McLaughlin Group is total BS these days

I thought Tony Blankley was bad, but that blonde chick is just ridiculous...and Eleanor, McLaughlin and whoever else is sitting on the left that day just let her ridiculous claims float by uncountered. It's evident from watching Buchanan that he clearly doesn't believe what he's spouting, and yet no one ever calls him on it.

[oustemnow]

32. Oh, and to the point of the thread,

Jon Stewart's segment on CNBC was pure, undistilled genius. They really have no way of countering that, because he laid it out so beautifully.

[spiritual_gunfighter]

62. Hasn't the McLaughlin group been irrelevant since about 1985? n/t

[JenniferJuniper]

33. I saw that. I'd thought McLaughlin had passed on some time ago and the show was long gone so

I paused to watch the train wreck.

It reminds me of a Crossfire with a few extra clowns. The show Jon Stewart so handily destroyed in one fell swoop. Perhaps just the thought of Jon frightens them.

[lame54]

5. .

[fortyfeetunder]

6. Moral to the story: don't stand up Jon Stewart

I bet that will teach anyone else to renig on a date with Jon again!

Jon

[nichomachus]

49. The real moral to the story:

Don't be a douchebag. Stewart couldn't have skewered these assholes if they weren't such abysmal douchebags.

[Gedankenaustausch]

65. Yet another moral to the story...

CNBC is quite possibly the laughing stock of the intelligent financial world. Their "financial advice" is quite possibly the funniest thing on TV. Jim Cramer is laughable at best. I really enjoy hearing people regurgitate his garbage the day after his show. I actually heard one of my friends who is a huge fan of his regurgitate Cramer's opinion about the now infamous Bear Sterns incident when Cramer said in response to a question about removing money from Bear, "NONONO! Bear is not in trouble." My friend, who always restates Cramer's opinions was somewhat shocked to see what followed over the next few days which ended in stock falling through the floor and JP Morgan coming to the rescue in a buyout. I try to not get my financial tips from a network that is funded by financial giants, and especially someone as crazy as Jim Cramer.

[ThomCat]

7. They got stripped naked, and they know it.

It should happen like that far more often.

They have no idea what they're talking about. Their expertise is nothing but flashy marketing. It's wonderful to that marketing stripped aside to show that there is nothing behind it.

[AwakeAtLast]

8. Santelli probably reaized he was stuck in a HUGE Catch-22.

He was gonna get a smackdown whether he showed up or not!

[LiberalFighter]

47. If CNBC had ordered santelli to show up possibly the ridicule would be just santelli

Instead their whole programming was skewered. Hopefully, those psychic Cleo types lose their followers.

[Bozita]

9. Just wait until they see Frank Rich's column in tomorrow's NYT

http://www.democraticunderground.com/discuss/duboard.ph...

[hiphopnation]

24. excellent article

thanks

[malaise]

25. That is a superb column

Bravo Frank Rich

[seafan]

10. Columbia Journalism Review: 'CNBC, Stewart is holding up a mirror. Take a look.'

The Daily Show Eviscerates Santelli and CNBC

By Ryan Chittum
Columbia Journalism Review

March 5, 2009

In the annals of business-press criticism, we are humbled to have to admit that there may have never been anything better than the utter beatdown Jon Stewart delivered to Rick Santelli and CNBC last night on The Daily Show.

We can only imagine what it would have been like if CNBC hadn’t suddenly realized its “Rick’s Revolution” campaign had backfired on it, causing it to yank Santelli from a scheduled appearance with Stewart last night. That would have been fun, but then we wouldn’t have had the genius unleashed last night. And I don’t use “genius” lightly.

.....

CNBC, Stewart is holding up a mirror. Take a look.

Full evisceration of CNBC by Jon Stewart is at this link.



We have to go to a comedy show to get the cold, hard truth.

[Gregorian]

11. Darn it. I really wanted to hear the mines that the Daily Show had for Santelli.

We may never know now. Although I suspect some of it was aired in his absence.

[shireen]

12. Stewart's CNBC expose was a cathartic classic

i just watched it again. his genius is channeling raw anger into humor. very therapeutic.

[Cetacea]

18. Agreed. He was /is brilliant. nt

[bridgit]

13. Thanks, Jon, if that's what it took to get them to STFU & reassess their circle-jerk that's fine.......

I'm surprised anyone watches that junk bond, junk loan, toxic asset tabloid financial 'news' unless I just answered my own question

[Horse with no Name]

14. and that idiot Cramer

was dissing Obama and telling how the stimulus should work on Tweety's show?

The problem is that these charlatans are given legitimacy.

[gratuitous]

15. Truly, what can CNBC say in response?

I heard there was some rumbling that the clips The Daily Show used had been unfairly shorn of context, but you know something? Tough shit, CNBC. It's not like you or your parent company has ever done exactly the same thing to other folks, folks who don't have the resources to talk back that you guys have. And who indeed does review CNBC and their crackpot prognostications? If Jim Cramer's meltdown over Bear Stearns had happened to a regular employee of any business in the country, he would have been laughed out of his profession. But Cramer's a cable personality, so when he jumps the tracks, he gets invited onto sister shows to chuckle over his unhinged moment and he's on to bigger and better things.

[mwb970]

21. Cramer reminds me of bush.

Get a gig, screw it up royally, collect the cash, and move on. It's the republican way.

[SpiralHawk]

41. "Smirk." - xCommander AWOL Bush (R)

[kmac3]

43. Re: mwb970 Reminds Me of Bush Statement

Purrrrrrfectly stated!

[Judi Lynn]

16. Absolutely matchless. So happy he did it. They REALLY had it coming. n/t

[kmac3]

45. Response to CNBC Loud Mouths Justified

Really sad that the only way one can hear the truth is through comedy .... Bless you Jon Stewart
Keep the truth out there. We are depending on you knowing MSM fails in real news coverage!

[Initech]

17. CNBC sucks.

[Journeyman]

19. There was little "Crossfire" could do but strike its tent and silently steal away. . .

mayhap we'll see an equally honorable retreat by these "business" charlatans and "stock market" cheerleaders.

[FVZA_Colonel]

50. His appearance on that show might be the only thing that tops the CNBC episode.

I'm actually pretty torn on the issue, as that was one of the single best episodes I had seen in years.

[FrenchieCat]

20. CNBfuckingC needs to admit it's role in the financial breakdown,

and stop airing. They are part of the problem; always have been.

[AngryOldDem]

29. But where would all the modern-day robber barons get their news? n/t

[varkam]

22. Jon doesn't miss often...

and when he hits, hot damn is it ever good. It reminded me of his appearance on the now-in-repose Crossfire.

[hiphopnation]

23. hats off, Stewart.

brilliant ...

[graywarrior]

26. Conservatives and media keep forgetting to take Stewart seriously

And then when he slams them, they're oh so surprised. Long live Jon Stewart!

[PADemD]

38. Indecision 2000

Before the 2000 election, I received a phone call from someone taking a lengthy political poll. Finally, the last question was, from which network did I get my political news, NBC, CBS, or ABC. I shocked him with "Comedy Central."

[graywarrior]

44. Ha ha ha ha!

[pacalo]

27. I can picture CNBC's audience dwindling...

[KharmaTrain]

36. Nah...It's A Closed Society

Most people I know who watch Greed Central or any business channel are the last to have a sense of humor. Let's face it, if you enjoy watching tickers and the constant parade of "anal-ists" and "experts" who do nothing but shill for their "flavor of the moment" stock, Stewart's show is not gonna be your cup of tea.

[LiberalFighter]

48. We can only hope. And in the process CNBC loses money.

[saltpoint]

28. Stewart's shot was all net.

[Sander]

31. Worthy of a Peabody

John's evisceration of Santelli and CNBC left me speechless (as well as laughing). With so many phoney journalists and pundits around these days, it was so refreshing to hear someone speak truth to power.

John Stewart - the Will Rogers of the 21st Century.

[MrsBrady]

34. one thing that always

bothers me....

I know this story was talking about Stewart, but it mentions the McCain-Letterman thing.

The MSM doesn't even report that correctly...and it really pisses me off.
Letterman was not pissed that McCain canceled on him (even though it was last minute), it was that he LIED to him.
McCain wasn't leaving NY in a hurry to go to Washington for an emergency. He freaking did that Couric interview.
It wasn't that he canceled. He LIED.

Sorry, I just have to get that out. Thanks.

[Kajsa]

40. MrsBrady, that is the reason

Letterman was upset.

When he saw the footage of McCain on Couric's
show, it was the last straw.
Letterman yelled out " Need a ride to the airport, John?"

Thanks for pointing that out.

[Uncle Joe]

55. I've learned not to expect any better from the AP, this kind of reporting

is par for the course.

[MrsBrady]

56. i expect it too

but it still bothers me

I know you know what I mean

[Uncle Joe]

58. Yes, I know what you meant.

It bothers me too.

Peace,

[Enthusiast]

35. Stewart was great.

And the media is killing Obama. And it isn't just the horrible McLaughlin Group. Gingrich 'the asshole' was blaming EVERYTHING on Obama on NBC this morning. When I say everything, I mean everything. His words did very real harm. If confidence in the economy is key, these nay-sayers are pulling it down more than anything. They do want the economy to worsen, otherwise they will have no chance in 2012.

[KharmaTrain]

37. Even More Speechless...MSNBC

While I thouroughly enjoy all that Keith Olbermann does, he has avoided this story like the plague. Had this been the Faux Business Channel, you know he'd be all over it, but this one hits too close to home. Methinks a memo went out for all NBC networks to try to ignore this story and hope it goes away.

[DemocracyInaction]

60. Actually, Olbermann called Rick

..."Sick" Santelli.

[burning rain]

67. Pardon the pedantry...

but Olbermann called him "Sick Rantelli."

[Me.]

39. Cramer Is Being Deliberately Wrong

As has been pointed out in recent articles Cramer and the other criminals at CNBC are big into pump and dump. They've used that network to lure in investors with their 'advice; so they can make a profit. Often, when they go after a business, the motive is take-down and profit. Cramer doesn't care that he's seen as wrong, his agenda is to his bank account.

[Iwillnevergiveup]

57. I almost didn't recognize Cramer in that picture upthread

with his shirt sleeves rolled DOWN.

[GinaMaria]

42. why is this line being repeated? "Santelli became an instant online star "

WTF? It was a staged, scripted and planned media stunt. The channels to 'go viral' with it were in place months before this rant. This stuff needs to be called out and the corporate media called out for it's clumsy attempt at manipulation.

[kmac3]

46. CNBC in reality . . . .

is primarily just a surrogate propaganda machine for the GOP . . .
Jon Stewart successfully brings this to light!
Way to go Jon ....

[ooglymoogly]

51. KR; Jon really is holding up a giant mirror as twere to life.

Jon is the Shakespeare of our time. Goodonya Jon.

[Grinchie]

52. Check out PBS/Frontlines excellent "Inside the Meltdown"

Available to watch in it's entirety on the web, along with many other excellent Frontline documentaries.

You can watch as CNBC foments the destruction of Bear Stearns with a CIA Operative and media schill, what's his face...

Not that they didn't have it coming, but I found it intersting that the timing and the viciousness of the CNBC guys rant was so over the top, especially when they covered Wall Streets ass for so long.

[Confusious]

53. I read something that said GE may be getting a bailout

(GE CNBC parent company) thats why Santelli backed out.

HOWS IT FEEL TO BE A LOOOOOOOOOOOOOOOOOOOSER SANTELLI!

[BlooInBloo]

54. Nice to see that for once they have the good sense to shut the fuck up.

[Optimistic]

59. CNBC was wrong everytime

Stewart showed that the "So-Called Experts" were wrong on every prediction.
What it show's is that these Stock Recommending shows on CNBC and Faux Noise should be banned.

[DemocracyInaction]

61. Two Points

First, the Rich column mentioned above is a "must read"---excellent. Secondly, the thing that makes me hoot in all this "talk the economy into depression" that goes on at CNBC is that it seems like the vampires have also managed to suck a whole bucket full of blood out of their parent company, GE. Hey, GE, tape the assholes mouths shut and you might see the economy come back and your sorry ass saved.

[sarcasmo]

63. Kick and Nom.

[pam4water]

64. They know they are mindless bits of fluff who only purpose is to distract

and sell crap we don't need.

[burning rain]

66. Few things more tedious than a populist financial reporter.

s