Jon Stewart of the Daily Show had a lot of fun eviscerating CNBC last night. In a great little segment he points out that CNBC and it's commentators have just been shills for Wall Street, who hyped a failing system to the detriment of its viewer/investors.
As he so often does Stewart uncovered what mainstream news doesn't generally cover or investigate. He points out that CNBC really is just a cheerleader for the American oligarchy, cheerily misleading the average American into an economic ambush.
Jon Stewart points out that CNBC consistently boosted the Wall Street without exposing what any reporter close to the situation must have known. Through a combination of fantastical stock market theories, suck-up interviews with CEOs of failing companies, affirmations of robust financial health for riverboat gambling financial empires that were about to collapse and become multi-billion dollar welfare recipients of our money -- and more boosterism -- CNBC, with rare exception, has become an advertorial for the looting, unregulated, "default swap," hedge fund, con artist, gambling ways that have destroyed the fundamentals of the heart of our financial system.
Watch the segment here:
Though I recommend you watch the entire March 4th Daily Show because Jon Stewart provides one of the most concise primers of the Wall Street mess I've seen.