![]() Stewart said, "The thing that upsets me the most, honestly, there are three 24-hour financial networks. On March 5, Stewart appeared on the Late Show with David Letterman, where he continued his criticism. "If I'd only followed CNBC's advice, I'd have a million dollars today", Stewart said during the piece, "provided I'd started with a hundred million dollars." March 5 comments In another clip, Jim Cramer was shown simply affirming "Your money is safe in Bear Stearns", followed by a Daily Show statement that the global investment bank went under six days later. Commentator Larry Kudlow was shown saying in April 2008 that "the worst of this subprime business is over." ![]() On-air editor Charles Gasparino was shown saying in December 2007 how AIG's subprime losses were "very manageable", which was followed with a clip showing that AIG had also received a large amount of federal bailout money. In one clip, a CNBC host reported American International Group (AIG) would not need capital, which The Daily Show followed with a list of the bailout money-amounting to billions of dollars-that the financial services firm had required since September 2008. In it, Stewart implied that CNBC's commentary was overly optimistic or too strongly slanted in favor of the companies being discussed by featuring several clips of CNBC pundits accompanied by slides showing the eventual failure of their predictions. On March 4, The Daily Show aired an eight-minute clip lampooning CNBC at the beginning of a segment in response to an outburst by Rick Santelli broadcast from the floor of the Chicago exchange. It had 2.3 million total viewers, and the next day The Daily Show website saw its highest day of traffic year-to-date. The episode received a large amount of media hype, and it became the second most-viewed episode of The Daily Show, trailing only the 2009 Inauguration Day episode. Subsequent media coverage of exchanges between Cramer (who had been featured heavily in the original segment) and Stewart led to a highly anticipated face-to-face confrontation on Stewart's show. ![]() Stewart, along with Daily Show executives, claimed the CNBC montage was not retaliatory and that they planned to show it before the cancellation was announced. Santelli had been set to appear on the show, but CNBC canceled Santelli's appearance. The exchange began with a scathing piece on CNBC's miscalculations regarding the financial crisis of 2007–2008 in response to CNBC commentator Rick Santelli, who had recently said on the floor of the Chicago Board of Trade that homeowners facing foreclosure were "losers". The host of CNBC's Mad Money, Cramer appeared in response to host Jon Stewart's highly publicized week-long criticism of CNBC. On March 12, 2009, television personality Jim Cramer appeared as a guest on The Daily Show with Jon Stewart. ![]() Cramer and Stewart meet on The Daily Show ![]()
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