Talk about having your finger on the pulse: In an interview last night on The Colbert Report, Jann Wenner, Editor In Chief of Rolling Stone, was asked by Colbert, "What happened to the rock, Jann? One word: Foghat"—to which Wenner sagely replied, "There's a lot of good stuff around today, you know: Prince, John Mayer, Red Hot Chili Peppers." When blasted by Colbert for citing an '80s act like Prince as an example of the quality of popular music circa 2007, Wenner rebutted, "But Foghat, what's the Foghat from, like, the '70s?" He then went on to recommend Bono be made president of the U.S.—and when that produced a mixed reaction from the audience, he backpedaled with "How about Bob Dylan instead of Bush?"

Sadly, the segment ended before Wenner could sing the praises of Bob Geldof and this newfangled postmodern rock.