Jon Stewart Skewers Whiner Rick Santelli and CNBC

This is a case where someone needs to be reminded to be careful what you ask for - you just might get it, and you may not like what they get.

In February, Rick Santelli, who is one of the "expert" talking heads that CNBC brings on daily (he's at the Chicago Mercantile), went on an on-air rampaging rant about the Obama administration’s handling of the mortgage crisis and recommended bailout. About a minute into his rant (video below), after enlisting the support of the traders around him, who seemed to be booing the Obama plan in support of Santelli, Santelli looks to the camera and asks, “ President Obama are you listening?”

Well, someone in the White House heard him. Of course, the rant was covered and promoted ad nauseam on CNBC and NBC, so it was hard to miss. So, there should have been no surprise to Santelli when White House Press Secretary Robert Gibbs came back at Santelli and took him to task for his comments (vdeio below) and provided their own response.

Why, then, is Santelli so shocked that Gibbs mentioned him by name? When Santelli appeared on the Today Show at the end of February, Santelli was upset that Gibbs and the White House singled him out, and had previously commented that he was “threatened" by them. I happened to be watching that Today Show segment at that time, and I admit my jaw dropped that Santelli seemed upset that after he’d asked if President Obama was listening, he had the nerve to be surprised that the White House acknowledged that they had heard him – and they wanted to add their own two cents. I actually was thrilled that Matt Lauer took Santelli to task for his ludicrous allegation of a White House "threat". Lauer did it in a very frontal way, which is unusual for him.

But the icing on the cake was when Jon Stewart decided to jump into the fray after Santelli canceled an appearance on the Jon Stewart show. Stewart not only skewered Santelli, but the whole of CNBC. Stewart's take was dead on the money, and absolutely hilarious. Now, I watch CNBC occasion, I happen to enjoy watching Jim Cramer, but I have to admit that I know to take what these "experts" say with a grain of salt, especially considering the circumstances of the collapse of the economy in the last few months. Jim Cramer had been very open regarding his bad call about Bear Stearns (Stewart mentions it in his segment), admitting that the CEO clearly was lying to him in an interview that he (Cramer) had with the CEO right before Bear Stearns went belly up. I think every financial news network called the stability of many companies incorrectly, not just CNBC.

I applaud Jon Stewart for putting the whole Santelli and CNBC thing together in such a way that puts Santelli to shame. So the lesson for Santelli is – if you can’t take the consequences for what you say, then keep your mouth shut.

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Sarah Palin Clueless as to Role of VP

Here’s Sarah Palin, who is John McCain's choice for his VP running mate, in a recent interview with Larry Kudlow on CNBC:

What is it exactly that the VP does everyday?


Her question, "What is it exactly that the VP does everyday?" should be cause for concern. Any person smarter than a fifth grader knows that first and foremost, the Vice President of the United States is next in line for the office of the President, should the President be unable to serve for any reason. And since John McCain is no spring chicken, this should be the first thing which voters should remain mindful. The VP also serves as the President of the Senate. And if for some reason a person didn't know that, I hope that someone like Sarah, who is Governor of Alaska, would know how to talk her way around the issue without making oneself look uneducated. But, in case Sarah needs more help, here’s some of what the VP does, according to Wikipedia: .

The formal powers and role of the vice president are limited by the Constitution to becoming President in the event of the death or resignation of the President and acting as the presiding officer of the U.S. Senate. As President of the Senate, the Vice President has two primary duties: to cast a vote in the event of a Senate deadlock and to preside over and certify the official vote count of the U.S. Electoral College. For example, in the first half of 2001, the Senators were divided 50-50 between Republicans and Democrats and Dick Cheney's tie-breaking vote gave the Republicans the Senate majority. (See 107th United States Congress.)

John Tyler, the first Vice President to assume the Presidency following the death of the previous President. The informal roles and functions of the Vice President depend on the specific relationship between the President and the Vice President, but often include drafter and spokesperson for the administration's policy, as an adviser to the president, as Chairman of the Board of the National Aeronautics and Space Administration (NASA), as a Member of the board of the Smithsonian Institution, and as a symbol of American concern or support. Their influence in this role depends almost entirely on the characteristics of the particular administration. Cheney, for instance, is widely regarded as one of George W. Bush's closest confidants. Al Gore was an important advisor to President Bill Clinton on matters of foreign policy and the environment. Often, Vice Presidents will take harder-line stands on issues to ensure the support of the party's base while deflecting partisan criticism away from the President... Under the American system the President is both head of state and head of government, and the ceremonial duties of the former position are often delegated to the Vice President. They may meet with other heads of state or attend state funerals in other countries, at times when the administration wishes to demonstrate concern or support but cannot send the President himself.

It’s a big job, one that seems to become bigger with each passing administration, and the duties can vary by administration. The world is also becoming a more complicated place in which to live. The role of the Vice President can have more meaning and more impact with the right person in the job. But if someone - especially someone who is currently a governor - doesn’t even really have a clue as to the role of the VP, maybe they aren’t the right person for the job? While you're thinking on that, think if you would want Sarah Palin to step in as President if something were to happen to John McCain. Personally, I wouldn't.


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Fox News = Faux News?

I reluctantly admit that I watch the Fox News channel on occasion, primarily the Saturday block of business shows. But, I’ve come to refer to the Fox News channel as “Faux News” because there really isn’t much hard news covered. It’s mostly talk and commentary, and it comes across as smoke, mirrors, and fakery. What they pass off as news is really conservative, too far right leaning opinion. As far as them saying they are “fair and balanced”, they are far from it. I find it both amusing, yet sad, when they invite someone with clearly left leaning ideals on any show, in order to use them as a whipping post.

With the upcoming presidential elections, Fox is pulling out all the stops in their quest to get another Republican in office. This has even seeped further into the business shows, where topics of discussion are tailored in a way to drag down a Democratic candidate under the guise of talking about the stock market. (A topic may be something like “How Hillary Clinton’s laugh is bad for business.” I made that question up but I’m not far off the mark.) In fact, some of the guests (frequently Ben Stein or Wayne Rogers) are bold enough to say, “what does that have to do with the stock market?” essentially laughing in the face of Fox and the show hosts. Fox’s Saturday business shows have become less and less about business, and more about promoting the Fox agenda. Because of this, I find it almost insulting that they seem to think their viewers need to be repeatedly hit on the head with Fox’s opinion. Just give me the news and related information; I can form my own political opinions, thank you.

Their new Fox Business Channel is following a similar path. I haven’t watched it much. I find it hard to tolerate the too-far right leaning conversations. Strangely, the last few times I checked the channel, they were talking about entertainment news and celebrities. It seems an odd focus for a channel who is supposed to have the eye on business.

So for my business news on a daily basis, I’m sticking with CNBC. And for my hard news, Fox (Faux) News is now last on my list.


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