Stewart slams CNBC

If you haven’t seen it yet, take a look.

The backstory: CNBC personality Rick Santelli agreed to appear on The Daily Show and later canceled. Wrong move on his part. Stewart proceeds to undress Santelli and the network, which some business journalists accuse of blurring the lines between reporting, entertaining, prognosticating and sycophancy.

Unless you’re an executive of failing bank or the architect of a Ponzi scheme, I think you’ll enjoy most of Stewart’s rant, even if you don’t like his liberal bent. He incisively explains the absurdity of bankers criticizing a bailout for homeowners with bad loans. Some of those same bankers extended an eager hand when the government offered them help.
The last time I heard a work of journalism so clearly explain some of the financial shenanigans in this country was in a This American Life segment about the housing crisis on NPR.

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