“Death To Smoochy” takes the supposition that where there is a lot of money involved, there is bound to be corruption. Given the news about Enron/Arthur Andersen, the filmmakers’ timing could not have been better.

“Rainbow Randolph” Smiley (Robin Williams) hosts the most popular show on the KidNet cable network. The song and dance vaudevillian is beloved by all until his world is brought down by the FBI, who nab him in a bribe sting operation. It seems as if Randolph takes payola from parents trying to get their kids onstage to dance with him and his characters.

When KidNet cancels “Rainbow Randolph,” they have to come up with a quick replacement who, according to the network president, must be “squeaky clean.” Enter one Sheldon Mopes (Edward Norton) who makes his living playing a Barney-knockoff, a fuchsia rhinoceros named “Smoochy.” “Smoochy” is a throwback to such children’s TV heroes as Captain Kangaroo and Mister Rogers, a character that preaches goodness and other upbeat messages to his audience. Endorsements are verboten in his world, a fact that does not thrill KidNet’s sarcastic children’s programming VP (Catherine Keenan) or his own agent (Danny DeVito, in yet another comically sleazy role for him).

While some of the plot is tired and contrived, such as Rainbow Randolph’s obsession with killing Smoochy (hence the film’s title), there are plenty of on-target laughs here. Harvey Fierstein is a hoot as a tough-talking mobster named Merv Green. In another case of casting against type, veteran tough guy actor Michael Rispoli is a riot as a childlike former boxing champ named Spinner Dunn. Edward Norton continues to be one of our most underrated screen stars, while Robin Williams shines in a rare, villainous role.

“Death To Smoochy” is sharp satire.