Most people would have heard by now of the Daily Show-Jim Cramer face-off, but I want to comment on it anyway.
It all started when CNBC reporter Rick Santelli tried to fan outrage against Obama’s plan to rescue some homeowners from their current situation. Santelli went on the floor of the stock exchange and riled up the traders there by implying that their money was being used to bail out reckless homebuyers.
Stewart made fun of this cheap populism by running clip after clip of CNBC reporters touting the virtues of one company after another just before those companies went belly up. Several of those clips featured Jim Cramer, who has a daily show on the CNBC network.
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