America's financial markets took another black eye when Comedian newscaster John Stewart blasted Rick Santelli of CNBC for his comments about President Obama helping homeowners facing foreclosure. In the process Stewart took on virtually all the CNBC personalities for misreading the economic crises.
The disdain expressed by people like Rick Santelli who seem to operate out of principled peak at the real plights of millions of Americans is unlikely to win wall street or the market much support from the bulk of Americans who aren't feeling very prosperous.
I'm a fan of CNBC in general, but the entire staff should be forced to watch John Stewart and then discuss why he where he was right. I am sure they can find all kinds of reasons to challenge the details such as Santelli being Chicago Based and not on Wall Street.
The only real shortcoming of the Stewart piece is that it somehow managed to avoid skewering Kudlow, whose patrician airs appear to be the epitome of arrogant wealth.
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