Jon Stewart's rant

Boy, they're really not very bright over at CNBC, are they? Don't they know that just about the worst thing you can do is agree to have one of your people appear on "The Daily Show" and then back out, especially when that person is the now-infamous Rick Santelli? Or, as he is now being dubbed, "the incredible Santelli." You might recall how Santelli went into a rage on the floor of the Chicago Mercantile Exchange over the Obama administration's bailout of bad mortgages. He called them "the losers' mortgages." A Wall Street-connected guy who is groaning about bailouts? As you might guess, Stewart had a field day in laying out all the instances of CNBC’s brown-nosing and wrong calls. Says Stewart:

If I had only followed CNBC's advice, I would have $1 million today, provided I had started with $100 million. How do they do it?

Best part of the bit is from a hard-hitting CNBC interview with billionaire Allen Stanford, whose Stanford Financial Group is now implicated in a massive Ponzi scheme.

Is it fun being a billionaire?

Well, yes, I have to say it is fun being a billionaire.

"Bleep-you," says Stewart.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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