Friday, March 6, 2009

Jon Stewart Eviscerates CNBC

In what is clearly the best reporting anyone has seen on our financial catastrophe is (no surprise) Jon Stewart. He exposed CNBC for their inept reporting and outright criminal misrepresentation of our system's financial collapse. From HuffPo:

The most talked-about journalism of this week wasn't produced in the New York Times, CNN, Newsweek or NPR. It was Jon Stewart's epic, eight-minute takedown on Wednesday night's Daily Show of CNBC's clueless, in-the-tank reporting of inflatable bubbles and blowhard CEOs as the U.S. and world economies slowly slid into a meltdown. You can quibble about Stewart's motives in undertaking the piece -- after he was spurned for an interview by CNBC's faux populist ranter Rick Santelli -- but you can't argue with the results.

But that's not all. The Stewart piece also got the kind of eyeballs that most newsrooms would kill for in this digital age -- planted atop many, many major political, media and business Web sites -- and the kind of water-cooler chatter that journalists would crave in any age. In a time when newspapers are flat-out dying if not dealing with bankruptcy or massive job losses, while other types of news orgs aren't faring much better, the journalistic success of a comedy show rant shouldn't be viewed as a stick in the eye -- but a teachable moment. Why be a curmudgeon about kids today getting all their news from a comedy show, when it's not really that hard to join Stewart in his own idol-smashing game?


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