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A hilarious nugget conspiculously absent from the mainstream media:

Stephen Colbert, (again, inexpicably) invited to give the closing speech at the White House Correspondents banquet absolutely destroys Bush to his face, along with more than a few n’eer-do-wells. Although Stephen stayed in character, this is definitely a different persona than the one he plays as host of his own show. The material is biting and ruthless- you can feel how uncomfortable and tense the room is during the bit. Even though his material was more relevant than it was ‘funny’ in the classical sense, it was… refreshing, to say the least. The Colbert Report often seems like The Daily Show with more one-dimensional gags and less substance. It was good to see Stephen show some teeth, and my opinion of him has definitely been boosted more notches than one.

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