CNBC: Santelli – Rant of the Year! Friday, February 20, 2009
Posted by ei-forum in Rants.trackback
This is a classic, actually better than Cramer at his best!
Is spending over 70 million to help people who aren’t paying their mortgage the way to go? Should we bail out people who shouldn’t have taken these mortgages out in the first place and what about the people that are actually struggling BUT making their payments? Are we going to end up like Cubans?…
Rick Santelli probably had the courage to say what’s on a lot of people’s minds…. enjoy:
The sad things is that he actually manages to capture the overall mood in the States… highlighting the severe strain the whole country is facing…
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Santelli doesn’t manage “to capture the overall mood in the states,” but he has dangled a shiny piece of string in front of those small minded individuals (like himself) who think that a trader whose colleagues perpetrated this disaster is somehow qualified to an opinion on how best to fix it. His rant is an ill-disguised attempt to assign blame somewhere other than the financial services industry that is the root cause of this mess.
Thank you for your note Marty.
Everyone is entitled to their own opinion but Santelli is a respected commentator and – even if this time he was a bit too emotional – was just expressing a point of view..
We think that one positive point about his rant is that the White House response actually managed to clarify issues… if Santelli hadn’t lashed out, then we probably wouldn’t have got this good reply from D.C.