March 6, 2009

Sheer genius

The Columbia Journalism Review lurves them some Jon Stewart, for his reporting on the epic fail that is CNBC:

In the annals of business-press criticism, we are humbled to have to admit that there may have never been anything better than the utter beatdown Jon Stewart delivered to Rick Santelli and CNBC [Wednesday] night on The Daily Show.

What follows is a five-and-a-half-minute sacking of CNBC — a list of embarrassing clips of the network’s talking heads getting it very, very wrong followed by black screens reporting what happened to their predictions. It’s hilarious...

It should be an “aha!” moment for those who have been snookered by the likes of Santelli and let down by the business press in its incomplete and inconsistent portrayal of the roots of this catastrophe.

Believe me, this Daily Show segment is buzzing around financial circles today... This one will be emailed around to all corners of the country.

As it should be. See the video here.