cnbc smackdown

Even though blogs originated as simple linkfests – a way to promote interesting stuff the author had read here and there throughout the web – most blogs today don’t follow that pattern. I view my blog, for example, as more of a one-man magazine, or a standalone opinion column.  The link roundups tend to be more utilitarian – they are primarily amongst and between other bloggers, rather than links to sites or news articles.  My other site (which I will eventually reveal if I get brave enough to de-anonymize) is mostly commentary on other people’s articles.

So for this Friday, I’m regurgitating someone else’s original content, because – at least for today – the author of the content said it and did it better than I could have hoped to do. The Daily Show lacerates CNBC and windbag Rick Santelli in particular.  Santelli’s rant about the “stupid people” who bought into – among others – CNBC’s declarations that the stock market and the real estate market COULD go up forever and ever should serve as a true embarrassment to journalism.   I resent people who paid too much for their homes, trying to speculate, as much as the next person, but not NEARLY as much as I resent the corporate behemoths who love to blather about capitalism while rooting for the next government bailout.

So I turn it over to Mr. Stewart. This is comedy at its most gut-wrenching – the audience can’t even laugh at some of the black humor and instead they just groan.

6 comments

  • Chad @ Sentient Moey

    This is flat out awesome. CNBC is just entertainment for 23.5 hours a day. The other .5 hours it provides a few tidbits through good interviews or guests. Of course, Larry Kudlow probably nullifies the limited amount of good information CNBC provides.

  • guinness416

    I can't see the video at work (sob!) but even without the it-was-scripted stuff, does CNBC really still qualify as journalism?

  • And some have come to business reporters' defense. I'm also talking about this in my blog.

    http://www.investoralist.com/media-extricates-f

  • I saw that the other night, loved it! Not just that segment but the one following it about how obviously America thinks Obama is failing–forget the polls–just look at the Dow!

    It's nice watching someone else say what I'm thinking, especially someone that can make me laugh so hard.

  • That is a crappy network. It's about entertainment (bad one), not about investing OR business.

  • Do you remember when CNBC broke out the party hats when the Dow hit another milestone in the late 90s? They are one of the cheerleaders for irresponsible investing and personal finances.