CNBC reporter Rick Santelli recently had his 15 minutes of fame when he went on a rant about having to pay for the mistakes of 'losers' through a recently announced government mortgage payment subsidy program. He then made the very big mistake of standing up the Daily Show with Jon Stewart. Payback was delivered in the form of a mini-documentary of bad CNBC advice and commentary spanning the Dow's slide from over 14,000 to under 7,000.
Surprisingly the Daily Show doesn't note that the parent company of CNBC, GE, has received government support in the form of over a hundred billion in taxpayer backing of GE debt, without which GE could have failed during the commercial paper panic of 2008.
As the Great Real Estate Bubble deflates, those without sin should cast the first stone.
CNBC reporter Rick Santelli recently had his 15 minutes of fame when he went on a rant about having to pay for the mistakes of 'losers' through a recently announced government mortgage payment subsidy program. He then made the very big mistake of standing up the Daily Show with Jon Stewart. Payback was delivered in the form of a mini-documentary of bad CNBC advice and commentary spanning the Dow's slide from over 14,000 to under 7,000.
Surprisingly the Daily Show doesn't note that the parent company of CNBC, GE, has received government support in the form of over a hundred billion in taxpayer backing of GE debt, without which GE could have failed during the commercial paper panic of 2008.
As the Great Real Estate Bubble deflates, those without sin should cast the first stone.