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Mar 12

The Incredible Santelli (UPDATED)

Posted on Thursday, March 12, 2009 in finance

If good looks was a minute/ You know that you could've been an hour- Smokey Robinson, 'The Way You Do The Things You Do'

In the video, Jon Stewart descends with furious righteousness on the CNBC network. As we’ve covered already, CNBC is the forum for the disease which is strangling our economy. The network wants to define itself as the place where Wall Street is the victim in this mess. We all know that this is false. Wall Street created this mess, and it is we taxpayers who are bailing them out from their egregious losses.

Yet again, Jon Stewart stands as a bulwark of reason against those who wish to confuse the public with populist hokum. If only more media outlets distanced themselves from their corporate teet and gave the true facts of this crisis, we might be able to have some enlightened discussion instead of panic and partisan talking points.

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Feb 23

Is CNBC The New Fox News?

Posted on Monday, February 23, 2009 in finance

Another week, another must-see video at CNBC. I always thought Fox was the out-of-touch, nutball network. No longer. Fox passed the torch to CNBC. The worst people in the world are no longer right-wing idealogues. Nope, they’re greedy capitalists who can’t stand getting blamed for anything. This week’s worst person in the world is CNBC’s Rick Santelli. Rick attempts in this clip to ignite a revolution amongst traders at the Chicago Board. Why are they outraged? They’re outraged because they have to pay for their neighbor’s mortgage. What do they want? They want the feds to bail them out.

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Feb 14

Best Network Nitwit Interview

Posted on Saturday, February 14, 2009 in finance

CNBC interviewed Nouriel Roubini, RGE Monitor, and Nassim Taleb, The Black Swan author. You need to watch this! These two are rightly famous because they both predicted the economic mess we are in more than a year ago. The reason we are in such a mess? Our banks were too big and too highly leveraged. Both of them state that we need to look at a completely new way of doing business, and we must start by ridding Wall Street of those who made the mistakes in the first place. This is the exact position we at Shambollocks! have taken since this crisis began.

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