Jon Stewart takes another swipe at CNBC on 'Letterman'

Jon Stewart continued his path of destruction through the reputation of CNBC last night during his Late Show appearance, and actually added two unnamed financial networks to his hit list as well. The whole thing started when CNBC’s Rick Santelli backed out of a scheduled appearance on the Daily Show Wednesday. Santelli, you’ll recall, is the CNBC reporter who became an online celebrity after an on-air rant where he castigated the Obama Administration’s housing plan for bailing out "losers" who couldn’t manage their mortgages. (Lesson: Anyone evenly vaguely associated with Wall Street should watch who they’re calling a "loser." What’s the Dow at today? 300?)

After Santelli canceled (CNBC has explained by saying it’s "just time to move on to the next story"), Stewart responded on Wednesday’s Daily Show by pulling the financial channel’s pants down in a brutal segment that highlighted how spectacularly wrong CNBC has been in the run up to the economic meltdown (see it embedded below). Last night, Stewart continued the assault on Letterman, expanding his criticism to cover financial networks in general. "There are three 24-hour financial networks," Stewart told Dave. "All their slogans are like, ‘We know what’s going on on Wall Street.’ But then you turn it on during the crisis, and they’re like, ‘We don’t know what’s going on.’ It’d be like turning on The Weather Channel in a hurricane and they’re just doing this: [shuddering] ‘Why am I wet?! What’s happening to me? And it’s so windy!’"

What do you think? Is Stewart your new favorite spokesperson for populist rage? Or do you think he’s been too hard on Santelli, CNBC, and the other financial networks given that we’re living through an unprecedented financial crisis?

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Comments (89 total) Add your comment
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  • rerun

    I normally don’t watch the Daily Show (watched a lot during election) but happened to catch the CNBC spot the other night. Very funny and, in retrospect, very sad.

  • Chele Belle

    Jon Stewart can do no wrong…no joke.

  • JG

    John Stewart and Stephen Colbert are the only ones telling the truth on TV. And they’re hilarious while doing it. The should be mandatory viewing for every American.

  • Tek Jansen

    He’s not hard enough on the financial dou&%e bag. Jon Stewart has been doing this kind of thing for some time. It’s a shame that people don’t notice as much as they probably should. Far from perfect he’s as honest as you’ll get on TV besides maybe Dave himself. It’s about time people took a little more notice and as far as I am concerned stopping just short of crucifiction would probably be ok for Santelli. He can rot in hell.

  • Verity

    Anyone who can find a little humor amidst such depressing news is my hero and worthy of praise. Jon Stewart held a mirror up to their faces and it was hilarious. I say, keep it up Jon! We could all use a laugh these days.

  • Randall Reisz

    Is Stewart being too hard? Personally, I find it’s the best thing for America. I am so tired of all these experts constantly getting it wrong. They are so busy over analyzing that they all believe their own BS. And lets not forget Mr. Cobert who recently ripped Rush, sorry I can not even finish his name without a fit of rage, a new one over mis-quotes. Should we not know the difference between two vital documents of our country and their contents before we are allowed to make public statements? I believe Stewart & Cobert are being too soft.
    Dar Ting

  • jason.

    Well, just like it’s been for years, the satirists are the only ones who cut through all the crap and point out what everyone should know. If Jon Stewart wants to just flat-out point out the media’s bull during the bear’s rampage, then more power to him.

  • dlm

    The only thing that could have made this more perfect is a CNBC interview with Bernie Madoff. And I love how Stewart references Howard Beale with no explanation – he just expects his audience to keep up. I appreciate the high expectations.

  • actingup

    I LOVE “The Daily Show” and “The Colbert Report”. The CNBC beat down was hilarious and so intelligent …yet also scary…

  • JD

    Stewart has no clue, Santelli has been ranting over the bailouts of insurance and car companies.

  • Sally in Chicago

    Stewart always gets it right.

  • Randall Reisz

    Ok, before anyone rips me a new one, yes I mis-spelled Colbert 2 times. The drawback of multi-tasking. At least I can admit wrong doings unlike the ones who are always telling us what’s right.

  • to JD

    Nope, Santelli was ranting about bailing out homeowners mortgages. You know like your neighboor, mom, dad, brother and sisters house.
    When he talks about bailouts of companies, he is all for it.
    I don’t get the people who say that it is the homeowners fault. I apply for a loan at the bank, if I am not good for one the bank should not give me one.

  • Rob Tyson

    Jon Stewart? Overrated.

  • Alan

    CNBC has become a gaggle of apologists for everything that’s wrong with Wall Street in particular and our economy in general. Anyone watching the network over the past 6 months would recognize that these people are living in denial of the forces around them and have absolutely no clue.

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