Tag Archives: santelli

Daily Show Takes on Rick Santelli

5 Mar

This is simply incredible. Watch the first 10 minutes of last night’s Daily Show. While Rick Santelli uses CNBC to promote faux-populist astroturf, the banks and companies promoted by people on CNBC have taken tens of billions of dollars in taxpayer money as a result of their irresponsibility. Yet Santelli went after responsible homeowners who are underwater on their mortgages because of the housing meltdown? Stewart’s statement to “Sir Allen Stanford” near the end of the clip is right on.

[HTML1]

Rick Santelli: Jackass

21 Feb

I work with a lot of smug, MBA fratboys at my day job.  They are unrepentant and smug about the wool they pulled over the eyes of the American Public when it comes to the MBS and CDO market.  They laugh about how mooks like you blame the homeowners and borrowers while they count the hundreds of millions of dollars they and their companies made off the biggest economic fraud in American history.  They laugh at you and how easy it is to convince you that union workers making $30 per hour and working class folks who bought into the hyped market to realize the “American Dream” and bought homes lenders convinced them they could afford are the problem.  That investment bankers making $750K per year off fraudulent mortgages and CEO’s making nine figures are the good guys here.

Rarely do you get a glimpse at the unchecked arrogance and general disdain those people have for you.  Until a humongous douchebag like Rick Santelli comes along and pulls back the curtain.

santelli_rick

Click to watch the video.

Essentially, Santelli (CNBC analyst and former derivatives trader) stands on the floor of the CME amongst traders from banks who are still afloat because of the TARP money given them in the first phase of the bailout plan and has the temerity to demand a revolt over bailing out homeowners.   A bailout plan that is for people who are in the midst of foreclosure actions and those who live around those who are struggling with foreclosure.  A bailout plan which requires homeowners to continue payments on their mortgages and requires responsibility on the part of the borrower.  Of course, those people are “losers” in Santelli’s world and don’t deserve an opportunity to keep a roof over the heads of their families.  He’s rather people lose their homes and buy their properties at foreclosure at pennies on the dollar.  That’s the free market after all!

This country has lost its bearings when a guy like this resonates.