Last night, Stewart skewered their over-the-top defense of JP Morgan and its CEO, Jamie Dimon.

"It's a shakedown-witch hunt-scalping-jihad!" he mocks, repeating the exact terms used by the cable channels' hosts to describe the settlement.

He also addresses the contention that JPM should not be punished for the misdeeds of Bear Stearns and Washington Mutual units, which were purchased at the height of the crisis, pointing out Jamie Dimon warned investors precisely of this outcome in 2008.

"Problems you cause don't disappear because someone buys you. They're included in the price. You know who knew that? Jamie Dimon and JP Morgan!"

Check it out: