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Jon Stewart Throttles CNBC

http://www.thedailyshow.c…inancial-advice

Jon Stewart absolutely destroyed CNBC last night on The Daily Show. The first half of the bit (Approximately the first 4 minutes) goes on the offensive against Rick Santelli who was supposed to be a guest on the show before he “bailed out.” Santelli is one of the few rational, intelligent, and authentic personalities on CBNC, frequently going against his peers’ opinions. Even so, he is still on CNBC. Since CNBC is basically a rah-rah cheerleading outfit for Wall Street, Santelli’s attack on mortgage payment subsidization (See Santelli’s Chicago Tea Party) makes him an easy target.

So that is funny, but it isn’t the best part. Stewart goes on to illustrate just how wrong CNBC has been throughout the emergence of the recession / bear market / depression / bubble bust. He does it with video clips from CNBC that pump Bear Stearns, Lehman Brothers, Merrill Lynch, Wachovia, AIG, Bank of America, and General Motors (GM). He takes jabs at Fast Money and Squawk Box — “Reasoned financial reporting that combines the raw speed of fast money with the intelligence of a box of parrots. You just had to know how to listen!”

He has clips from Wall Street executives (i.e. John Thain) where they say essentially “everything is ok!” And what takedown of CNBC wouldn’t be complete without clips of Jim Cramer? So he nails that, too.

“If I’d only followed CNBC’s advice I’d have a million dollars today provided I’d started with $100 million dollars.” How do they do it?”

And to cap off Stewart’s hilarious piece, he ends with a gut-busting clip from an interview between Squawk Box‘s Carl Quintanilla and Ponzi-criminial Sir Allen Stanford that you just have to watch yourself.

Well done Jon Stewart!

 

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George Carlin, R.I.P.

George Carlin died at age 71. He was a damn hilarious comedian, philosopher and human observer. That is redundant.

Here are a couple of interviews with Carlin:

The A.V. Club circa 1999:

GC: Well, they say, “If you scratch a cynic, underneath you’ll find a disappointed idealist.” So I would imagine there’s some little flame, however weak, that still burns, but I know time is against my seeing that. I think this world would need a long time, maybe a thousand years, to evolve to what may be a golden age, and in the meantime, there are all these very small, parochial struggles between peoples of different language and color and arbitrary political and national boundaries. And my understanding of it is that there is no hope, because I think we’re locked in by commerce. The whole idea of the pursuit of goods and possessions has completely corrupted the human experience, along with religion, which I think limits the intellect. So with those two things in place as firmly as they are, I don’t see any hope for getting around them short of some sort of interesting cataclysm. So I root for a cataclysm, for its own sake, just as entertainment. I don’t even care if it has a good result. We’re circling the drain, and I just like seeing the circles get faster and shorter all the time.

Mother Jones circa 1997 (Carlin was actually married for at least 30 years prior to his wife’s death):

Q: Are you lonely?

A: There is a core of loneliness. It’s partly existential. Secondly, I was raised a loner. My parents were not there. My father was asked to leave because he couldn’t metabolize ethanol. Actually, my mother ran away with us when I was 2 months old and my brother was 5. Real dramatic stuff: down the fire escape, through backyards.

So, I sort of raised myself. I was alone a lot and I invented myself — I lived through the radio and through my imagination.

One of the interesting things about “outsidership” is that underneath it there’s a longing to belong. I just wish the thing I refused to belong to — the species, Western capital culture — was a little more respectable.

The full interviews are worth reading if you have the time.

A couple of must-see videos after the jump.