Here's a perfect example of why people watch cable news --- and, also, why they don't.

As TPM's Josh Marshall describes it: "Rick Santelli, famously in 2009, by one measure launched the 'Tea Party' with an epic rant about how big government was crushing capitalism while it was actually in the midst of saving it. Since then he's been wrong about every economic question worth being asked. One of the CNBCers got tired of his nonsense today and this happened."

Or, as Vox.com's Ezra Klein tweeted it (with a pretty perfect allusion for old school Real World fans): "What happens when CNBC hosts stop being polite and start getting real"...

Matthew Yglesias describes Santelli, in citing the video above, as a "big time inflation fearmonger" and adds that fellow CNBCer "Steve Liesman absolutely took him to school pointing out that anyone who'd listened to his inflationista advice over the years would have lost a ton of money."

I'm not nearly expert enough in monetary policy to appreciate who's actually right and who's actually wrong in this made-for-cable pissing match. While I'd happily bet against the yutz Santelli on just about anything, the rest of his network has also been notoriously wrong in just about every bit of corporate log-rolling and back-slapping they've engaged in over the last decade or more. In any event, if you want a bit more of an explainer on what the hell these people are actually yelling about, Time's Pat Regnier offers this one.

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Because pretty much all of the other "news" of late is largely a collection of pre-holiday, post-election, lame duck bullshit, there's at least this amusing karmic metaphor courtesy TPM...

Perhaps former Romney advisers ought to stay away from live cameras for a bit. It hasn't worked out very well for them this week.

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CNBC's Mad Money host, Jim Cramer, tweeted the following earlier today...

I have a problem. My dad, a vet, won't be allowed to vote in Pa. because he does not drive, he is elderly, and can't prove his citizenship.

— Jim Cramer (@jimcramer) September 11, 2012

Cramer's father, however, is hardly alone. Some 1.6 million otherwise eligible voters in the state of Pennsylvania --- many of them elderly, minorities, students and the poor --- may be unable to vote this November under the state's GOP-enacted polling place Photo ID restriction law, unless the absurd ruling of Commonwealth Judge Robert E. Simpson is overturned on appeal, or unless the U.S. Dept. of Justice finally decides to file a federal challenge that successfully blocks the state's completely unnecessary law as violation of the Voting Rights Act and the U.S. Constitution.

But Cramer's father can take heart. Scott Keyes at Think Progress reports: "A House Democratic Twitter account responded to Cramer with a promise that Rep. Jim [*Bob] Brady (D-PA), who represents part of Philadelphia, would "personally see to it that your dad gets the necessary ID and transportation to vote."

See? The new Republican law won't actually disenfranchise anybody! All you need to do is make sure you have a family member host a popular TV show, and your problem will be solved when a U.S. Congressman notices and promises to intervene. Democracy saved!

By the way, the ruling by the Commonwealth Court Judge who upheld the voter suppression law recently, may be even more absurd than originally believed or as detailed by The BRAD BLOG's legal analyst Ernie Canning upon appeal. As Nicole Flatow explains, the law that Judge Simpson relied on to support his ruling was an 1869 case, Patterson v. Barlow, in which the majority warned of "rogues", "strumpets" and "wandering Arabs" who, it was feared, might commit voter fraud in Philadelphia that year.

Even back then, as the dissenting opinion in the 143-year old case reveals, the minority Justices were concerned "that among the barriers so ingeniously contrived to prevent [voter fraud], the defeat of the duly qualified voters must inevitably occur."

The dissenters went on to offer advice that would be useful today to those concerned about actual voter fraud (versus the Republicans who instituted today's Photo ID restrictions, solely to keep largely Democratic-leaning voters from casting their legal vote at all):

* CORRECTION: It appears that ThinkProgress' Scott Keyes misstated the first name of the PA Congressman who has promised to help Cramer's father get a Photo ID to vote. PA Election Integrity advocate Marybeth Kuznik of VotePA.us writes in with this correction: "The Democratic Rep in PA-1 (part of Philly) is Bob Brady. I guess he goes by Robert Brady officially, but everyone in the state calls him Bob. He's a very powerful Democratic Rep in PA (head of the Philadelphia Caucus in the PA Democratic State Committee) and, as you may know, is Minority Chair of the U.S. House Admin Committee, so he is a gatekeeper on anything regarding voting. There is no Jim Brady in the PA Delegation." We've corrected the Congressman's first name in the article above.

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This was the most remarkable, and enlightening conversation I've seen on television in lord knows how long. Probably since Stewart's last landmark take-down of corporate broadcast media failure in 2004. The conversation here with CNBC's Jim Cramer --- unprecedented over three segments of last night's The Daily Show --- was simply remarkable.

Please take the time to watch this in full, and wonder again why it is that it's a "comic" on a satirical news show who has become America's most out-spoken, most articulate leader on these crucial issues of survival for our nation...

My take-way, though it was never spoken to directly, is that business news and business journalism --- right now more than ever --- must be about real reporting, and real accountability on behalf of the people, as opposed to simply cheerleading on behalf of the business community, as it has been for so long now

Stewart is also owed a great thanks here, in that I believe this may be (or should be) a landmark moment in discussion of this issue. Just as his remarkable October 2004 take-down of Tucker Carlson and Paul Begala on CNN's Crossfire (taken out of our misery shortly thereafter), essentially for the same reason --- using valuable broadcast time to perpetuate blood-sport and/or cheerleading, instead of actual news reporting in the public's interest --- I hope his no-holds-barred conversation with Cramer will lead to a similar re-thinking of the role of broadcast business journalism.

Stewart's similarly stunning October 15th, 2004 appearance on CNN's Crossfire is re-posted below for your convenience, the video, and highlights from the text transcript were originally posted here...