• Jun 3, 2009
With last year's round of bank bailouts, Jon Stewart's comedic cup overfloweth with material. Now, with General Motors' bankruptcy official, Stewart takes aim at the late, great automaker in the segment "BiGMess."

Although Stewart was late to the game with last night's Daily Show and a few of his quips provide further proof that the MSM are still woefully uninformed about what brought down two of the Big Three, between gags, he poses a few questions the average American is asking. Namely, what happened to the $20 billion we (U.S. taxpayers) loaned GM, why are we going to drop another $30 billion into the bankrupt automaker and why, if we're in the business of taking over corporations, can't we start buying companies that – you know – make money?

You can watch the segment in the clip below the fold, along with Stewart's interview with P.J. O'Rourke, hawking his oh-so-timely book Driving Like Crazy.

The Daily Show With Jon Stewart M - Th 11p / 10c
BiG Mess
thedailyshow.com
Daily Show
Full Episodes
Political Humor Economic Crisis
The Daily Show With Jon Stewart M - Th 11p / 10c
P.J. O'Rourke
thedailyshow.com
Daily Show
Full Episodes
Political Humor Economic Crisis


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  • 46 Comments
      lsbuddha
      • 5 Years Ago
      "GM/Chrysler obligated themselves the retirement costs (also labeled legacy costs) back in the day. Contract law and good faith dictates that they should be paid."

      Well, actually in bankruptcy the retirement benefits contracts are automatically invalidated under applicable law.

      And the union (and the rest of us) knew (or should have known) that those retirement costs, coupled with GM's consistently myopic, second-rate management, would take the company down, later if not sooner.

      Karma can be a bitch.
      • 5 Years Ago
      The sad part is he was calling us all idiots for not wanting to give them the money just a few months ago and now that they've burned through the money, as we said they would and filed chap 11, he thinks it's funny. The idiots are the ones who take anything he says seriously despite how earnest he seems and how bright they want him to be.
      • 5 Years Ago
      More comment bait for braindead political commentary.
      • 5 Years Ago
      "Namely, what happened to the $20 billion we (U.S. taxpayers) loaned GM, why are we going to drop another $30 billion into the bankrupt automaker and why, if we're in the business of taking over corporations, can't we start buying companies that – you know – make money?"

      I'm more worried about the $700 billion in welfare payments to the banking industry. Everyone keeps whipping on GM and Chrysler for 10% the amount of money and yet the banks walk away with no accountability.
        • 5 Years Ago
        The banks are paying us back now that they're making money again, so our stimulus is largely an actual loan. Even AIG, who took the absolute most money, is selling itself off in pieces to pay us back.
        The problem is that the money we gave GM to keep it away from bankruptcy was largely wasted since they ended up filing for bankruptcy anyway.

        And now instead of asking them to pay us back, since we know that's impossible, we're going to take a stake in the company. A stake that's worth a hell of a lot less than $50 billion, I'm not even sure our stake is worth $5 billion, so this isn't a loan like the banks got-it's straight up giving GM interest free money.

        The banks on the other hand pay interest on their loans, and want to repay us ASAP since they don't want to keep paying interest on loans. Since the interest on $50 billion would come out to about $3 billion per year (and that's already ignoring the fact that we're ignoring their bankrupt credit rating, which would normally result in much higher interest rates), GM would have had zero chance of even making it's interest payment, let alone actually paying down the principle. The money given to the banks was used by them to give out as loans themselves, so they could repay the government as long as the people they gave the loans to repaid them-the government's goal was to loan small businesses and people money via the banks, not just give the banks money to burn like GM did. And GM burned right through our $20 billion-what exactly does GM have right now to show for the $20 billion we gave them? A bankruptcy that could have been had for free?!?
        • 5 Years Ago
        Every country has bailed out its banks because they NEED the banks. The country's national bank cannot move around the required funds and without banks, the economy technically is frozen (well almost).

        Car industry on the other hand isn't essential. Yes, the jobs are good and it keeps employment but it isn't necessary for car companies to keep on existing, especially when foreign car companies can perfectly subsitute GM and such.
        • 5 Years Ago
        That was just the stimulas. The banking took about 250 billion, but most of that is being raised though stock sales and banks like Wells Fargo and BofA(who were forced to by crappy companies-thats another story) have raised the money and are paying back the gov. AIG-insurance comp, is a dark star. The combined total is 1.6 trillion-more that all the prior admin. bugets. That 700 billion was the stimulas-which has done nothing for economic stimulus.
      • 5 Years Ago
      Jon Stewart - Newsman poseur and obnoxious entertainer to the uninformed.
        • 5 Years Ago
        Stewart is like Michael Moore, except that he knows how to be entertaining to some people.
        • 5 Years Ago
        "and instead constantly reminds everyone that he is a comedian first and foremost."

        If you have to constantly remind people you are a comedian, then you must suck at being one.
        • 5 Years Ago
        "If you have to constantly remind people you are a comedian, then you must suck at being one."

        No, he's actually a good comedian. He's reminding the audience because most of the "journalists" you see on TV are clowns.
        • 5 Years Ago
        "If you have to constantly remind people you are a comedian, then you must suck at being one."

        No, he has to constantly remind the regular news media that he's a comedian due to they want to label him as a newscaster. They attack The Daily Show and The Colbert Report due to getting interviews that they're jealous of. The irony is that the other cable news networks that are attacking both shows have tried their own versions of comedy news shows to dismal results.
        • 5 Years Ago
        "No, he's actually a good comedian."

        Leno or Carson never had to remind people they were "comedians" and they had plenty of the top guests on the show.

        Face it, Stewart is not very good.
        • 5 Years Ago
        "Jon Stewart - Newsman poseur and obnoxious entertainer to the uninformed."

        Actually, one has to be fairly knowledgeable to "get" the satire.

        *************

        "Leno or Carson never had to remind people they were "comedians" and they had plenty of the top guests on the show"

        You're not too bright, are you?

        No one ever mistook Leno or Carson as a newsman/journalist, something that Stewart gets accused of.

        Also, Stewart brings up the fact that he's a comedian to show the absurdity of the "press" not doing their jobs by not asking the tough questions - a la all the talking heads on CNBC and Fox Business who just parroted what they were told by Wall Street, instead of having a healthy dose of skepticism (the same goes for the press, such as the NYTimes, which just accepted the claims made by Cheney/Bush prior to the invasion of Iraq).
        • 5 Years Ago
        "Newsman poseur and obnoxious entertainer to the uninformed"

        Funny thing is he is an entertainer. Who has his own tv show. Where he gets paid big money and even gets good interviews every now and then. He is funny sometimes, but so is O'Reilly and Olberman. Also wouldn't you watch news if you wanted to get informed? I am glad Fox news and MSNBC are broadcasting to people who already know everything. You comment is basically useless. Thanks for pointing out the obvious. But then again so am I.

        /shrug

        • 5 Years Ago
        Don't be a moron just because you're a rush limbaugh fan; Jon Stewart has never claimed to be a newsman and instead constantly reminds everyone that he is a comedian first and foremost. As far as the un-informed comment, Id be interested to know what "information" you think the average person should know that would make watching this show less funny.
        • 5 Years Ago
        He reminds people that what they watch is a comedy, not a news program, and any info must be taken in corresponding way.

        It's the "Don't try this at home" for folks who had a hard time telling satire from news.
      • 5 Years Ago
      I love how Chrysler and GM are getting slaps on the wrist and then given a big bag of candy. Ford has been working hard to turn things around and I think they deserve a little praise for the good work so far. I'm not talking about money, just like a positive update on them instead of the negative crap on GM and Chrysler LLC. Personally I say let Fiat have Chrysler. All but Jeep is rubbish and even Jeep isn't as good as it use to be with the 4.0L Cherokee.
      • 5 Years Ago
      Politicians don't in vest for an economic return. They invest for a political return. Profit is something you tax, not something you make.
      • 5 Years Ago
      Why are remarks of comedians taken so seriously?
      • 5 Years Ago
      P.J. is such an amazing and erudite author - he should run for office. Of course, he would say the years of booze, drugs, cigars, women, etc. would make it not likely he would win. Not to mention he would hate the job. Then again, maybe that is exactly what we need in a politician.
      • 5 Years Ago
      If you know absolutely nothing about the auto industry, other than what the media has told you, this would be funny to you.
      • 5 Years Ago
      I don't much care for John Stewart - the least funny. least witty person on television. But he is dead accurate in his assessment that we, the taxpayer, are bailing out dogs and throwing good money at bad rather than seeking to ensure that only the workers of those companies are being taken care of.

      GM and Chrysler should have been allowed to fail or succeed on their own - allow them to throw themselves into bankruptcy where their assets could be seized by someone willing to buy them. The suppliers should have been the ones protected with no interest loans and the workers should have been given protection at 50% of their wages for up to two years until they complete job retraining programs or they get a minimum an associates degree in a high technology field.

      With regard to those who invested in GM or Chrysler or who had their stock - oh well. That is life.
        • 5 Years Ago
        I agree.
        I think corporate welfare is irresponsible use of taxpayer money, however, the big push by liberals/progressives was to protect the unions (who I despise.) Having said that, GM/Chrysler obligated themselves the retirement costs (also labeled legacy costs) back in the day. Contract law and good faith dictates that they should be paid. I believe the only role the government should have taken was to guarantee the retirement packages for the union workers and let the chips fall where they may with respect to chap-11 months ago instead of subsidizing months of billion dollar operating losses just so the unions could position themselves to own the companies after chapter-11.
        • 5 Years Ago
        A lousy excuse for a fake newsreader.
      • 5 Years Ago
      Oh Canada!

        • 5 Years Ago
        Because we are the only true democracy country in the world. LOL

        GM doesnt wnt pay the debt and the they know the country cant run without "me"................
        • 5 Years Ago
        Since both GM and Chrysler have gone through the process, filed for Chapter 11 and have cashed the checks from the Feds . . . aren't we kind of beyond the question of should we have given them money?

        I don't like the idea of it anymore than most people. Especially in the case of Chrysler, which is a brain-dead and bankrupt company.

        Ultimately, you have get practical and just hope/assume that this is all going to work out and go on to the next fight.
        • 5 Years Ago
        I know, it sucks.
        • 5 Years Ago
        John forgot to mention that the debt was (-60billion) that he mentioned is actually zero dollars! Yes we eat that as tax payers but that's the real deal..
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