TVSquad

Glad to see that ignorance still rules.

You're missing the point here, Rocketboy. The Daily Show was rightfully castigating CNBC for its promotion of many stocks as safe and worthy investments when they were not, making dubious claims about them too, as well as a failure to investigate leading Wall Street executives about discrepancies in their reports.

The biggest financial failure of our generation occurred while a network supposedly covering the field not only missed the story until was too late, they arguably added to the pain. They were cheerleaders rather than reporters, and the sad thing is that virtually none of them on CNBC have suffered as a result.

It was brilliant satire as always by TDS to damn them by showing actual clips of what they said versus what happened, and the capper involving the billionaire was perfect, thoroughly justifying Stewart's disgust. Coupled with Stephen Colbert's hilarious sendup of Glenn Beck's pretentious and inflammatory "War Room" program afterward, it was proof positive that both shows are doing just fine under the new administration and remain the ones to beat come Emmy time next fall.

Amen. Someone needs to ask why Stewart asked Billy Crudup about his nudity in Watchmen but didn't ask Sanda Day O'Connor the previous night about her nude picture in America: The Book.

I glad "someone" actually gets it. Bravo David Marcoe.

Sad to say though we'll be paying for these morons for years to come. People that actually believe their realitors when they told them that a $200K house on 9 dollars an hour is do-able.

Back when we bought a home in the late 90's, our realitor did an assessment of what we could "afford" in a house. I made 9 dollars an hour, just starting out in programming. My wife was a hair dresser, maybe making 15K a year. And that so-called realitor told me I could afford a $200K house. Luckily I was smarter than most of the people that put us in this mess and DID NOT buy a $200K house.

You have no idea what you are talking about. It is funny that you apparently think that those giving out the money have no responsibility to make good decisions, only the consumers trying to pay their mortgage.

Silly me, but I think that the mortgage company shouldn't have approved the consumer for the loan if there was no way they could pay it when the interest rate skyrocketed.

Omega, you really are fucking stupid.

To quote from what is surely one of your favorite publications, The New York Times, "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people …". This pressure was from your last God, Bill Clinton, when his administration began adding sharper teeth to the 1977 Community Reinvestment Act. Those teeth required banks to make high risk loans they otherwise would have never touched.

If the banks refused to comply with Clinton's demand they make loans no sane lending institution would ever consider they faced fines and greater difficulty getting approvals for things like expansions and mergers. When questions about these dubious lending demands arose, assurances came from Congress that intimidating lenders into giving out bad loans was a good idea.

One of your personal heroes, Barney Frank, pulled the skin cigar out of his throat long enough to say this to the Mortgage Bankers Association regarding the solvency of Fannie Mae and Freddie Mac, "People tend to pay their mortgages. I don't think we are in any remote danger here. This focus on receivership, I think, is intended to create fears that aren't there."

Ah, but there's more! Another of the idiots you voted into power, Harry Reid, said, "While I favor improving oversight by our federal housing regulators to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process." ROFLMAO!! Yeah, NOT giving out bad loans is bad for the economy.

Woo hoo, you're a follower of the stupid and corrupt, gladly regurgitating a like-minded stream of excrement, yet you STILL bother to post crap online as if you haven't embarassed yourself enough already. You are the weakest link...goodbye!

Franklin,
I bet you're a very pleasant man in person. So you bring up Clinton's Community act. The republicans controlled the house and senate from the 104th through the 109th Congress, excluding the tie in the senate in the 107th. They make the law. Why didn't they put a stop to it? Go listen to some more Limbaugh

Let me get this straight: the people who worked on 9 dollar an hour and got a 200k mortgage are stupid, but the guys working on Wallstreet for foreign banks from Europe who sneaked around regulations and used AIG to insure these loans (YES THAT'S WHAT THEY SAID ON THE DAILY SHOW if you don't believe me watch the goddamn show) like for instance the national bank of Iceland, those guys should be bailed out - all the while living on several hundred thousand dollar salaries (if not millions) because they closed these deals. And on top of that CNBC was A OK for telling investors on those shows directed at people without any investment knowledge to invest in a (and that's the kicker) bubble economy. I mean that was said right on TV. They said on CNBC that they now the values are inflated but still asked people to pump more money into the system.

When I saw that I thought I was watching an ad for a Ponzi scheme.

And don't cry now that this should all have been regulated. As if that would've changed anything. As if blaming the regulartors would help us NOW. There are states where you don't have to wear a helmet while riding motorcycles. Explain that to me.

@0megapart!cle just doesn't get it. Of course the mortgage companies are also to blame. But the responsibility should rest on the person. Not the company. What kind of a person takes a "company's" word instead of doing the research? You do the work yourself, you are responsible, not some suit at the mortgage company, bank or lending institution. You have to pay the bill, not the company. We have a lot of stupid people in this world and I'm freaken sick of paying for them.

I was going to respond to @StillBash, but then I saw this and that pretty much summed that comment up...

(YES THAT'S WHAT THEY SAID ON THE DAILY SHOW if you don't believe me watch the goddamn show)

You just keep on getting your news from The Daily Show. Betcha @StillBash thinks Fox News is biased. lol

You mean CNBC, not MSNBC, correct?

Apples and Oranges...

There are a lot more issues when banks fail then when someone loses their home.

Do I agree with either 'stimulus' package? No. But dislike of one does not imply like of the other.