Thursday, March 05, 2009
Jon Stewart Takes On Santelli and CNBC
Does a better job than I did.
Idiot right-wing pundits who are paid to know what they're talking about got this 100% wrong. ONE HUNDRED PERCENT WRONG. But do they lose their jobs? No. And they have the chutzpah to rant about homeowners, many of them who relied on these idiots for advice, getting bailed out?
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>many of them who relied on these idiots for advice, getting bailed out?
You are assuming that these homeowners all bought their homes in the last year or so, when all these headlines of "Don't worry" were being shouted. Also, how many Americans do you think actually listen to these people on TV when making decisions to buy homes. A lot of the small clips Stewert is showing is AFTER the sub prime crash, so how many people were actually buying homes? I mean, how much is "many?"
You are assuming that these homeowners all bought their homes in the last year or so, when all these headlines of "Don't worry" were being shouted.
Not at all. The same advice has been given for years. Commentators are always unrealistically optimistic.
Also, how many Americans do you think actually listen to these people on TV when making decisions to buy homes.
It filters down. Basically the people who really should have been responsible about this -- the lenders -- fell down on their job. But the Santellis and Cramers of the world enabled and facilitated. *I* knew there was a housing bubble. *You* probably knew there was a housing bubble. But for some insane reason, the entire financial world bet everything on the idea that real estate values would never decline. It's sheer lunacy, and it was enabled by these fuckers and others like them. Millions of lives ruined, and then this asshole gets to go on t.v. and rant about the "losers" who were stupid enough to get duped by people like him? Aizeh chutzpah!
>The same advice has been given for years.
So they were purposely lying or something?
>Basically the people who really should have been responsible about this -- the lenders -- fell down on their job
Um no. Everyone should be responsible for their actions. I mean, how is possible that I did not go for a loan. Simple. Cause I know I won't be able to afford it. I think you are putting too much responsibility on these pundits with clips that are after the fact, trying to calm people that things are OK. By then (2007, 2008) the housing market was already crashing, nobody was buying homes, so nobody was really listening to them anyways.
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