Jon Stewart on Everything You Need to Know to Get Mad About LIBOR

The Daily Show
Serena Dai 4,875 Views Jul 19, 2012

Are you angry about the LIBOR scandal? If not, allow Jon Stewart to get outraged for you about how the London Interbank Offered Rate interest rate that was manipulated by banks. In typical Stewart fashion, he started with the words straight from politician's mouths, this time about how the problem with the economy was "too much regulation, greedy public sector, union, pensions, uncertainty." "The stallion of the free market can not run wild saddled with these progressive sacred cows!" Stewart declared. Stewart plays big business apologist and feigns ignorance about what LIBOR is and how it could negatively impact the economy: LIBOR isn't "the mythical half wild board-half lion that was rumored to have killed Achilles' brother Jimmy, the Greek"? News clip by news clip, each of Stewart's first declarations of the cause of the bad economy—regulation, public greediness, etc—is debunked. Turns out, bankers screwed up this time. 


 

 

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