Jon Stewart Eviscerates CNBC

Posted by AzBlueMeanie:

On Wednesday night, Jon Stewart in a classic segment of The Daily Show eviscerated the CNBC cheeeleaders for the white collar criminals on Wall Street, and their faux populists Jim Kramer and Rick Santelli.

If you do a YouTube search you will find some older posts of "before and after" predictions by Jim Kramer that make this segment look tame. This guy is never right. (And he ran a hedge fund?)

As for Rick Santelli, a former derivatives trader, there was a report by Rolling Stone magazine reported at numerous blog sites (the story has reportedly been taken down) suggesting that Santelli's rant from the floor of the Commodities Futures Trading Market in front of multi-millionaire traders (like himself) about homeowners in foreclosure being "losers" was a pre-planned event staged by some right-wing media group. I don't know whether this report is true or not, but it certainly would fit a pattern at CNBC.

CNBC has been the biggest cheerleader for the bogus investment schemes and the culture of greed and corruption on Wall Street that led us into the economic catastrophe we face today. When the white collar criminals on Wall Street start going to prison for their bogus Ponzi Schemes, their court jester cheerleaders over at CNBC who helped them to steal your money should be their bunk mates in prison. (The same goes for the cheerleaders over at Fox Business Channel and Bloomberg News.)