[Tolik]

Thursday, February 19, 2009

NRO Talks to CNBC's Rick Santelli   [Stephen Spruiell]

Earlier today, Kathryn posted a link to the video of CNBC's Rick Santelli giving voice to what he described as a groundswell of discontent over the president's new mortgage plan. I caught up with Santelli just moments ago and talked to him about what he says has been "kind of a crazy day."

National Review Online: Were you expecting anything like this reaction?

Rick Santelli: Not at all, not at all. It was just, after 48 hours of listening to hundreds of people trying to approach me on floors, on trains, everywhere, the opinions were almost unanimous, and I just tried to pick up that thread. The pits weren’t open at the time and the traders that were on the floor getting ready for the opening all started to gravitate to where I was talking, and it just took on a life of its own.

NRO: When we posted a link to the video, we were swamped with e-mails in support, including a couple from traders at the Board of Trade in Chicago, who have been saying right on. How have the e-mails that you’ve been getting, how have they been running?

Santelli: I’ll be honest with you, I think I’ve gotten somewhere between 850-900, and I think I had three that were negative.

NRO: What are that small group of critics saying? Where do they think you went wrong?

Santelli: They thought I was uncharitable, got up on the wrong side of the bed, had no compassion for people who are going through rough times, and that isn’t at all the issue. The issue is, you can’t pick out 8 or 9 percent and give them things that weaken the 90 or 92 percent who are carrying the water. You need to come up with legislation that may help the people that need it but not hurt the people that… listen, my 401k’s a 201k, my kid’s college tuition is going up 10 percent. This is tough for everybody. Maybe a tax break, maybe everybody who has a house gets something. They need to quit picking winners and losers, and they have to quit alienating the classes. You have to figure out a way to float all boats, and I think that’s where the administration has gone wrong, and I think that’s the nerve I hit.

NRO: You were also skeptical of the original bailout plan, specifically the way that it seemed to be a “Let’s rush through this and figure out the details later” kind of approach. Do you think your predictions on that have been borne out by events?

Santelli: I remember this all started roughly in the summer of ’07, and at that point, that Halloween that followed in ’07, I think I said something like, Frankenstein derivatives aren’t going to be resuscitated. These bad positions are going to hang around until they’re taken out. As an ex-trader—I traded for 20 years—bad positions don’t go away. There’s not enough money for many of these banks to sell them, because of what it does to their balance sheets. At the end of the day, whether it’s housing or whether it’s toxic derivatives, I just don’t think you can spend your way into correcting something that’s going to be painful and make it not painful. So I think I’ve been kind of spot-on in many ways as to the spending plans.

At the end of the day, it’s simple. A lot of the president’s advisers are saying that there’s a multiplier effect to the government money, and it’s over one. Now if that’s true, then the government should spend non-stop for the rest of our lives, because we’ll get a positive return. And it makes no sense.

NRO: Right. And now it seems we passed this bailout bill without specifying any of the details, it’s kind of become a blank check, and they say that Barack Obama can do something like 80 percent of his homeowner-assistance plan without even asking Congress. So how do you think that plays out in the future?

Santelli: I guess in the end, I believe in the founding fathers, and I believe that in America... the pursuit of happiness and to work hard and keep the fruits of your labor is something I believe in. And I’m not saying we should forget people who need help. But at the end of the day, Americans are strong and they’re charitable. I think what they have a problem with is that it’s force-fed via the government.

02/19 04:13 PM

[Tolik]

VIVA Santelli's Chicago Tea Party!

the following is a PARTIAL list of posts on the subject; I am sure there will be more!

if indexed properly, they will be found here: http://www.freerepublic.com/tag/santelli/index

TRADERS REVOLT: CNBC HOST CALLS FOR NEW 'TEA PARTY'; CHICAGO FLOOR MOCKS OBAMA PLAN

http://www.drudgereport.com ^
Posted on Thursday, February 19, 2009 11:37:47 AM by kcvl

Per Drudge:

http://www.cnbc.com/id/15840232?video=1039849853

CNBC Floor Commentator Outburst "Obama are you Listening?"(SILENT MAJORITY ALERT)

CNBC.com ^ | 2/18/2009 | Rick Santelli
Posted on Thursday, February 19, 2009 8:35:24 AM by longtermmemmory

Freep This Poll (Are you ready to join the Santelli Chicago Tea Party?)
	02/20/2009 6:15:40 AM PST · by Man50D · 1 reply · 298+ views radiovoiceonline.com/live ^
‘Today’ Triple-Teams Santelli
	02/20/2009 5:07:52 AM PST · by governsleastgovernsbest · 40 replies · 1,508+ views FinkelBlog ^ | Mark Finkelstein After his top-of-Drudge-worthy remarks [video] yesterday on CNBC, you knew Rick Santelli would be on NBC’s Today this morning. Perhaps equally predictable was that the man who argued against making the 92% of responsible Americans paying their mortgages bail out the 8% who aren’t would be subject to the third degree. Or in this case, a triple team. Steve Liesman, also of CNBC, was there to take the other side, but he was clearly playing for the home team alongside Matt Lauer and Brian Williams, pinch-hitting for Meredith Vieira. Neither Lauer nor Williams hit Liesman, who favors the huge mortgage...
CNBC Poll about Rick Santelli - PLEASE VOTE
	02/20/2009 3:32:40 AM PST · by mek1959 · 29 replies · 1,508+ views CNBC ^ | 2/19/09 | CNBC As posted on the CNBC website: Link to Poll
NRO Talks to CNBC's Rick Santelli
	02/19/2009 8:40:52 PM PST · by Sir Gawain · 36 replies · 1,434+ views NR ^ Thursday, February 19, 2009 NRO Talks to CNBC's Rick Santelli   [Stephen Spruiell] Earlier today, Kathryn posted a link to the video of CNBC's Rick Santelli giving voice to what he described as a groundswell of discontent over the president's new mortgage plan. I caught up with Santelli just moments ago and talked to him about what he says has been "kind of a crazy day." National Review Online: Were you expecting anything like this reaction?Rick Santelli: Not at all, not at all. It was just, after 48 hours of listening to hundreds of people trying to approach me on...
Now, a tingle up our legs: Rick Santelli’s Trader’s Revolt
	02/19/2009 10:56:51 AM PST · by slomark · 16 replies · 966+ views IHateTheMedia.com ^ | 02/18/09 (Already published in news section, but admin pulled it and wanted it here. Oh well.) [Video included] Chris Matthews gets tingles up leg listening to Barack Obama. This morning, we at IHateTheMedia.com got tingles up our legs too, but not for the reasons Mathews gets as a result of his mancrush. Ours came when we watched CNBC’s Rick Santelli begin what is being called a “Traders’ Revolt” on the floor of the New York Stock Exchange with fellow traders cheering him on. We absolutely love it, so we’ll justify playing it here for you to point out the kind of...
CNBC's Rick Santelli Hammers Obama on Subsidizing "Losers' Mortgages" - Video 2/19/09
	02/19/2009 10:26:54 AM PST · by Federalist Patriot · 24 replies · 764+ views Freedom's Lighthouse ^ | February 19, 2009 | BrianinMO This is just amazing! Rick Santelli of CNBC on the floor of the Chicago Board of Trade this morning absolutely calls out President Barack Obama on his plan to essentially make taxpayers pay for people who took out bad mortgages. Santelli says: 'The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard.' He even suggests what we may need is another "Boston Tea...

[MrB]

Was it just me, or did someone think that Kernan sounded a little... well, gay, in the audio of that exchange?

[cookcounty]

The Chicgo Tea Party:

Dye the Chicago River RED!

Da Mayor dyes it green every St. Patty’s Day, so it has precedence.

RED for the RED ink. RED for the Chicago Alinsky REDicals that are destroying our nation!! Rise Up!!!

[Venturer]

We need a tea party in every town and city in the nation.

[Tolik]

Santelli Debates Housing Plan, "Tea Party" Rant on the "Today" show on 2/20/2009:

http://www.realclearpolitics.com/video/2009/02/santelli_debates_housing_plan.html

CNBC's Rick Santelli tells the "Today" show "you have to treat everybody fairly." Santelli says Congress is "legislating [our] choice away."

[HereInTheHeartland]

No one has come out with t shirts yet?

I Agree With Rick

[Candor7]

Santelli, Conservative Talk Radios NEXT national popular HOST?

There is a lib station frequency you can bid for Santelli!

[hoagy62]

Y’know...the tea party idea sounds great.

I just have one question: What do we DO?

I mean...the original Patriots had tea to throw into Boston harbor. We have nothing to ‘throw’. I’ve already filed my taxes. protests with a bunch of talk don’t accomplish anything.

Something needs to be done that will cause one of two outcomes: either A) the politicos in washington have the bejeebers scared out of them and start changing things, or B) we sent up for secession of states that will no longer agree to Zero’s plans OR open revolt (American Revolution v. 2.0).

That is how I see it.