Jon Stewart Takes on CNBC’s so called Money Experts
I try to avoid political and financial talk at all costs in my personal life and on this site whenever possible, but this is just too good. John Stewart goes on an amazingly long and targeted rant about CNBC, and their poor financial predictions over the past few years. I have seen a few clips on YouTube showcasing the so called Wall Street “experts” saying that the market would be just fine as stocks were going down. Through the magic of video and the Internet, they look foolish now! (not that I should talk… I never really thought it would sink this low… but that’s why I don’t go on TV and talk about it).
The premise behind this video is that a CNBC correspondent, Rick Santelli, was supposed to go onto the Daily Show with Jon Stewart and explain his position. He must have canceled at the last minute, because Stewart was very angry, and went off on an 8+ minute rant about the topic. Lots of good lines and clips here, including predictions that many failed/plummeting banks (Bear Stearns, Bank of America, AIG, etc.).
I know that hindsight is 20/20, and it’s easy to judge people based on their opinions when they seemed like sound advice 1-2 years ago. However, these CNBC pundits say their predictions with so much conviction that I think that they deserve to be ridiculed posthumously. When you have a money show on TV, scream into the camera to get attention, and thousands of Americans listen to your advice, you deserve to be ridiculed on a much larger stage than Comedy Central. You should be forced to publicly apologize for being wrong.
Thanks to Tyler for sending in this clip.