SPOT-ON frustrated CNBC reporter calls for a Boston Harbor-style “tea party”
www.cnbc.com/id/15840232?video=1039849853
Rick Santelli goes off on Obama’s latest “stimulus” plans, particularly his just announced bailout of people who can’t pay their mortgages because they made horrible decisions and now demand the taxpayers who are making sacrifices and paying their mortgages bail them out, plan.
One anchor suggests that it’s simply a matter of the traders all being “like putty in your hands,” but Santelli counters “No they’re not—they’re not like putty in your hands—this is America! … President Obama are you listening?! … Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they’re driving ‘54 Chevys! ”
He calls the folks in the trading floor the silent majority.
And then one anchor asks “Are they opposed to the housing thing, to the stimulus package, to everything out there?” Santelli replies that “They’re pretty much of the notion that ‘you can’t buy your way into prosperity’.”
Another anchor says “[I] Congratulate you on your new incarnation as a revolutionary leader,” and Santelli replies: “Somebody needs one! I’ll tell you what: if you read our founding fathers, people like Benjamin Franklin and Jefferson, what we’re doing now in this country is making them roll over in their graves.”
MSNBC reported on it here in what amounts to an object lesson in understatement (having nothing to do with the fact that NBC News is manifestly Obama campaign headquarters):
Today CNBC’s Rick Santelli had some strong words about President Obama’s new housing plan. Santelli suggested creating a Web site to let Americans vote on the plan and here was his idea:
“…to have people vote on the internet as a referendum to see if we really want to subsidize the loser’s mortgages or would we like to at least buy cars and buy houses in foreclosure and give them to people that might have a chance to actually prosper down the road and reward people that can carry the water instead of drink the water…”
Broadcasting from a trading floor in Chicago, most traders around Santelli cheered.
Not seen on CBC.
PTBC was founded by Mr. Johannesen in 2000.
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