Powered by i.TV
September 2, 2014

Jon Stewart rips CNBC a new one, then rips CNBC's new one a new one - VIDEO

by Danny Gallagher, posted Mar 6th 2009 8:06AM
Note to self: if I ever have the honor of making a guest appearance on The Daily Show, do not, repeat, DO NOT CANCEL.

I don't care if my flight to LaGuardia has a ton of water that can be dumped by pushing a button and it's flying over my mother's house, which is on fire. That would be probably waste fuel and, therefore, 12 seconds of flight time.

Sorry, mom, but if that's the case, it's either lose your home or your oldest son. And stop taking so long to make up your mind.

The other night, CNBC's Rick Santelli was supposed to appear as Jon Stewart's guest to discuss this whole financial mess that will one day bring about the four horsemen of the apocalypse. But he canceled at the last minute, and that sent Stewart on the kind of verbal ass-ripping that we have been waiting for since this whole mess hit the fan.

Santelli, as you may not know since the only people who watch CNBC are either homeless or in federal prison, is famous for reporting the day's financial news on the floor of the stock market. He recently became America's douchebag of the week when he got a bunch of braying jackasses (you might know them as stock traders) to cheer against Barack Obama's call for some of the stimulus money to go towards homeowners in danger of default.

Stewart then told CNBC and a few of their rotating Lazy Susan of empty talking heads in a clear, measured tone and with a great deal of forethought, and I quote, "F%*& you." If that doesn't win Stewart and his staff this year's Pultizer for outstanding commentary, then nothing will.

The eight-minute-plus rant picked apart the network from the lovely Maria Bartiromo down to the downright scary Jim Cramer like it was a Chinese pulled pork dish, and served up the meaty strips of flesh for the rest of us to enjoy. It's the kind of rant that probably made Lewis Black urge Stewart to "calm down before you lose your temper and say something you'll really regret."

But even if Stewart popped a blood vessel or two in his brain, it was worth the sacrifice. It needed to be said, whether Santelli canceled his appearance or not.

Add a Comment

*0 / 3000 Character Maximum

22 Comments

Filter by:
Chris

I really wish TV Squad would wean themselves off their inlinking to Hulu videos. Only those within the US can see them, making this site an exercise in frustration for those outside the US.

March 07 2009 at 3:50 AM Report abuse rate up rate down Reply
Pamela

Go Jon & team...they are spot on!

March 06 2009 at 8:26 PM Report abuse rate up rate down Reply
erasmus

Lol. Jon Stewart making fun of someone for "cheap populism".

March 06 2009 at 2:06 PM Report abuse rate up rate down Reply
bruce

If people knew how corrupt the financial industry really was, they'd keep their money in their mattresses. I used to be the head attorney for one of these "financial services" companies, and it's just amazing... I quit in disgust when I refused to perform an illegal act, but that was just the tip of the iceberg.

It should be illegal to recommend, for profit, the sale or purchase of any security. That law alone, while putting a few million people out of work, would in the long run help the economy. People don't deserve to keep jobs that shouldn't be allowed to exist in the first place. Nobody cried about the alcohol industry when they enacted prohibition. Same deal (though I'm certainly against all chemical prohibition, including drug prohibition).

March 06 2009 at 1:49 PM Report abuse rate up rate down Reply
Watcher

I think that the question boils down to who is/was more in control of the day to day financial magament of the US - the puppets (the public) or the puppetmasters (the financial sector)? Those in control must accept responsiblity for the current mess. With true capitalistic tendancies the financial sector squeezed as much money from the average person as they could to make the most money (look at the financial returns gained by banks in relation to 'free checking accounts' as an example). This situation started as a result of the financial sectors squeezing too hard and breaking the financial back of the average person which now in turn has affected them. There is a symbiotic relationship between banks and their customers that was ignored for a long time

March 06 2009 at 1:19 PM Report abuse rate up rate down Reply
Butters

I think most of your comments are missing the point.

Most people would agree that homeowners should take their share of blame for the sub-prime debacle. I think most people would also agree that the big banks, insurance companies and car manufacturers have a lot to answer for as well. However Jon Stewart's piece and even Rick Santelli's rant have very little to do with this.

Jon Stewart was commenting on the fact that even with all the billions and billions of dollar handed out to big companies in the bailout so far, Rick Santelli was complaining about the small percentage that was given to homeowners.

We could argue for days about whether there should have been a bailout or not but that argument is mute now because the bailout is happening and now is the time when then funds are being divided up. Jon Stewart was rightfully pointing out that if Citibank or AIG or GM can get their share of the money then why can't the homeowners take their minute piece.

March 06 2009 at 11:37 AM Report abuse rate up rate down Reply
1 reply to Butters's comment
Rocketboy_X

Apples and Oranges...

There are a lot more issues when banks fail then when someone loses their home.

Do I agree with either 'stimulus' package? No. But dislike of one does not imply like of the other.

March 06 2009 at 4:23 PM Report abuse rate up rate down Reply
ddjrodgers

Jon - You're right on point with your critique of the hypocrisy of the MSNBC talking heads. Because I'm in the financial services industry, I WATCH MSNBC to get the latest readings on the market movements and to look at the charts -- but I no longer listen to their ill informed, biased, non-journalistic rants. My TV is on mute.

March 06 2009 at 10:32 AM Report abuse rate up rate down Reply
1 reply to ddjrodgers's comment
Michael

You mean CNBC, not MSNBC, correct?

March 06 2009 at 2:20 PM Report abuse rate up rate down Reply
David Marcoe

It might be helpful to ex-plain this in the context of TV. Here's a helpful skit by SNL to demonstrate the point: http://tinyurl.com/b35b22

March 06 2009 at 8:40 AM Report abuse rate up rate down Reply
David Marcoe

"He recently became America's douchebag of the week when he got a bunch of braying jackasses (you might know them as stock traders) to cheer against Barack Obama's call for some of the stimulus money to go towards homeowners in danger of default."

So I guess that the nation-wide grassroots "Tea Party" that was inspired by Santelli's rant were just a bunch of "braying jackasses" too? And I guess they were "braying jackasses" because they didn't feel like having their taxes raised--because, you know, those meanies don't have families or mortgages either--to rescue people who shouldn't have been given home loans in the first place.

Or did we suddenly forget that the housing market collapsed because of the "toxic debt" created by the granting of easy home loans and then pawning off the ownership of that debt as "structured investment"? And now the plan is to borrow trillions more in money, from foreign creditors, and then have future taxpayers pay off that borrowed money down the line, with interest.

And when did home ownership become a right, rather than something to aspire to? Did renting and leasing become so odious that we now have to make sure every person owns their own home, even if that means they get to incur debt they can't pay?

March 06 2009 at 8:36 AM Report abuse rate up rate down Reply
6 replies to David Marcoe's comment
StillBash

Hey Danny, what does it say about TV Squad when you report on this later than german bloggers?

I guess better late than never. But still - I miss Annie.

March 06 2009 at 8:35 AM Report abuse rate up rate down Reply
1 reply to StillBash's comment
Zachary

Amen. Someone needs to ask why Stewart asked Billy Crudup about his nudity in Watchmen but didn't ask Sanda Day O'Connor the previous night about her nude picture in America: The Book.

March 06 2009 at 12:07 PM Report abuse rate up rate down Reply

Follow Us

From Our Partners