This is an amazing lambasting of CNBC by Jon Stewart of The Daily Show. It is all the better because it demonstrates the power of satire to highlight the obvious–and obvious injustices. I find it bizarre that our government can give billions (that’s Billions with a (big) B) to poorly managed companies that made stupid decisions (think AIG, most large banks by this point as well as the American Auto industry), but when the “bail-out” actually begins to be directed toward individuals and families that might loose their homes it raises enough ire to cause modern day “tea parties.” What a crock. I was against the earlier bail-outs under Bush, and I question how much discernment can possibily going on in Washington these days, and how much wisdom can be in these bills, but regardless of that, I recognize that something must be done and if we’re going to do anything for the corporations that have run themselves into the ground then we darn well better be willing to help individuals and families keep their homes. Just to put things in perspective, a recent Time story said projected as many as 6 million foreclosures in 2009 (compared with 1-2 million annually most years). Usually when we start talking about 6 million people being put out of their homes we’re talking about a humanitarian crisis and the need of peace-keeping troops as refugees are resettled.
So, on that note, enjoy Jon Stewart taking CNBC down a notch. (click the more tag to see the video)