Free Republic

While international attention has been focused on Greece's debt crisis and the riots that have ensued over austerity measures, the possibility of the United States finding itself in the same situation is one to be considered a legitimate possibility says CNBC CME Group floor reporter Rick Santelli. On CNBC's May 7 "Squawk Box," host Joe Kernen pointed out the fear of contagion spreading throughout the world economy has been a focus, but asked Santelli if anything could be discerned from the Greek situation that would apply to the American economy. "Well, you remember the Christmas Carol?" Santelli said. "You know,...

While everyone is scratching their heads and trying to figure out how the Dow Jones Industrial Average (DJIA) lost nearly 1,000 points before rallying back to lose only 347 points - it appears not to be limited to just one stock. On CNBC's May 6 "Closing Bell," correspondent Matt Nesto explained that investigators for both the stock exchanges and for Citigroup, the firm that some are pointing fingers at for a so-called trader error, have narrowed it down to a futures index called the E-mini S&P 500. "A person familiar with the Citi investigation said one focus of the trading...

It doesn't take a rocket scientist to realize that so-called payday loans probably aren't the most reasonable option when it comes to short-term borrowing. But according to MSNBC's Rachel Maddow, it takes the federal government to let you know. On her April 28 program, Maddow charged that these lenders engage in unscrupulous practices, despite offering a service that their clientele is willing to buy. "Last week we did our best to explain payday lenders - who they are and who they are, who they - what they do and who they are, excuse me," Maddow said. "Payday lenders are basically...

While questions swirl about the ins and outs of the Securities and Exchange Commission charges against Goldman Sachs (NYSE:GS), and the eventual result is no clearer. According to CNBC "Mad Money" host Jim Cramer, after the release of several e-mails from Goldman traders, including Fabrice Tourre, who described the investments at the firm "like Frankenstein," the investment bank finds itself in an untenable position. Cramer told MSNBC's April 26 "Morning Joe" that Goldman really has no defense if, as the government alleges, Goldman misled investors when it established a mortgage-backed security in 2007 for a hedge fund client looking to...

Does anyone remember when the liberal intellectuals decried populism coming from the likes of Glenn Beck and other conservatives that was aimed at the direction the country is going under the leadership of President Barack Obama and the Democratic-controlled Congress? Throughout 2009, that so-called "bottom-barrel demagogy," as Troy Patterson called it in an post for Slate one year ago, was the focus of much consternation from the intellectual class that resides in the Northeastern U.S. corridor. One example was a critique of the Rick Santelli call that inspired the Tea Party movement, which John Dickerson called "impassioned, scattershot, and ultimately...

Remember that $787-billion stimulus passed last year, the one that was supposed to keep unemployment from hitting double digits by invigorating a new green economy? Well it hasn't exactly worked. Conventional wisdom would suggest not trying it again. Based on the nearly 10 percent unemployment, it's obvious Keynesian economic policies, where the government is a major force in an economy, don't work. However, MSNBC's "Morning Joe" host Joe Scarborough made the case for an even bigger trip down that route. "We talked about Sputnik at the event we did last year," Scarborough said on his April 21 program. "I wrote...

After the Dow Jones Industrial Average (DJIA) cracked the 11,000 mark on April 12, some are asking if the economy is back. And while some want to credit President Barack Obama for this so-called recovery, is this financial market rally a true indicator of returning economic prosperity? The anchor of "NBC Nightly News" asked just that question, pointing out the cover of the April 19 issue of Newsweek magazine that pronounced "America's Back!" On his April 12 broadcast, Brian Williams asked CNBC's David Faber if it was a little premature to make that declaration. ...more (w/video)...

A little over a year ago, President Obama signed into law the $787-billion stimulus legislation that was supposed to prevent the unemployment rate from exceeding 8 percent. And although the unemployment has receded some from its high, it's still well North of 9 percent. So if that stimulus is given more time, will unemployment improve? Last week's jobless claims numbers, showing a stagnant unemployment rate of 9.7 percent, didn't provide any reason for optimism. And on CNBC's April 12 "Squawk Box," host Joe Kernen asked CNBC CME Group floor reporter Rick Santelli if this economic indicator is going to be...

The left wing seems to know no bounds in its efforts to ideologically cleanse CNN of any seemingly rational point-of-view when it comes to the issues of the day. Although liberal were successful in their effort to rid the network of Lou Dobbs, some elements are now hung up on also eliminating recently hired contributor Erick Erickson from CNN's programming. And now a liberal group called Campaign for America's Future (CAF) is attacking CNN for planning to air a documentary called "I.O.U.S.A.: Solutions," suggesting the network is "fanning the flames of deficit hysteria." The group's co-director Roger Hickey is demanding...

With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census. On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli was asked how to interpret the expected improvement. He warned it isn't the kind of job creation that is good for a sustained economic recovery. "You know, I think it's fascinating," Santelli said....

Since the health care debate has swung into high gear, Republican Wisconsin congressman Rep. Paul Ryan stock has gone up as well, coming off as smart, intelligent and able to take the . He was Larry Kudlow’s CNBC program last night criticizing what health care reform would do to the deficit. But he said something else that really caught my ear. As he explained, based on projections from the so-called non-partisan Congressional Budget Office tax-rates will skyrocket with the wealthiest pay an astounding 88-percent rate within 30 years. [Transcript below video]

It's a topic that would probably make the average individual's eyes glaze over, but will have a profound impact on the economy - for better or worse. The topic - financial regulation reform. With Senate Banking Chairman Sen. Chris Dodd, D-Conn., setting his proposal out for the public, the take away on the reporting from two of the country's major newspapers - The New York Times and Wall Street Journal can give readers a view where their reporters' loyalties lie. On CNBC's March 15 "Squawk Box," co-host Joe Kernen raised this point - the Journal with its more pro-Wall Street...

After hearing the wit and wisdom of Sen. Al Franken, D-Minn., one has to wonder how modern media corporations could stay in business without the expertise and guidance of those elected to the U.S. Senate. Sarcasm aside, Franken did admit during a Feb. 4 hearing he didn't necessarily have legal expertise to address the Comcast-NBC Universal merger, but he could more than make up for that shortcoming through his experience in show business. Franken, a member of the Senate Judiciary Committee's Antitrust Subcommittee, explained he was bothered by the merger. "As some of you may know, I'm on the Judiciary...

As the old cliché goes, you don't use a sledgehammer to crack a nut, but according to Rick Santelli, that's exactly what it appears the Obama administration is doing terms of financial regulation and fiscal discipline. On CNBC's Feb. 2 broadcast of "Fast Money," host Melissa Lee proposed that taxing the wealthy is not the path to "economic prosperity and fiscal stability." Santelli, the network's CME Group floor reporter, agreed. "Well, you're right," Santelli said. "But I also think you're going to see when the Bush tax cuts expire, a lot of middle class write-offs and exemptions and various tax...

Want proof low taxes work? Just take a look at the state of New Hampshire, as MSNBC "Morning Joe" host Joe Scarborough astutely pointed out. On the Feb. 2 broadcast of his MSNBC program, Scarborough interviewed Sen. Jeanne Shaheen, D-N.H. Shaheen's home state was hosting a jobs town hall put on by President Barack Obama and Scarborough used the occasion for a teachable moment. "Now, usually none of us would celebrate unemployment rates of 7 percent," Scarborough said. "But that is not only well below the national average, but your neighbor, Rhode Island, to the south of you now sitting...

The rich rules over the poor, And the borrower is the slave of the lender. (Proverbs 22:7 ESV)In the Old Testament book of Proverbs, King Solomon details the differences in thought, word, and deed between a wise man and a fool. In addressing the foolishness associated with borrowing money, he makes clear the relationship between debt and servitude: No man can truly be free when he is bound by financial indebtedness to another. It's clear, however, that the danger of debt is something a majority of the American people — including members of Congress and our President — have yet...

SAN FRANCISCO (MarketWatch) -- Seven U.S. banks were closed by regulators on Friday, bring the total this year to 140 as the effects of the credit crisis continued to be felt across the country. What's more, the Federal Deposit Insurance Corp. established temporary institutions to help close two of the failed banks.

If you believe polls, current Federal Reserve Chairman Ben Bernanke favorability has been slipping. A recent Rasmussen Reports poll indicates that only 21 percent of Americans favor his reappointment as the Fed chair. And this hasn't gone unnoticed by some members of the Senate, where Bernanke's fate lies. Bernanke's reconfirmation passed through the Senate Banking Committee by a 16-to-7 vote on Dec. 17. But that margin calls into question how his reconfirmation vote on the Senate floor could go. And as CNBC "The Kudlow Report" host Larry Kudlow warned, that puts his reconfirmation in question. "Look, ‘Helicopter' Ben passed the...

It's often said markets function better when there is gridlock in Washington, D.C. because there's less of a chance for government will interfere in the private sector, creating a sense of security. But in this day and time, that theory applies to the U.S. dollar as well. On CNBC's Dec. 17 "Squawk Box," CNBC Chicago Mercantile Exchange reporter Rick Santelli debated what was causing the recent rise in the U.S. dollar. Santelli, the original inspiration for the tea party movement, squared off with Jim Iuorio, CNBC "OptionsAction" regular and CME trader, about the cause - a weakened European economy or...

In his 1981 inaugural address, former President Ronald Reagan said, "Government is not the solution to our problems; government is the problem." Nearly 29 years later, that still holds true according to CNBC "Mad Money" host Jim Cramer and former Federal Reserve Chairman Alan Greenspan. Both Cramer and Greenspan were guests on NBC's Dec. 13 "Meet the Press" and although neither was making a vain effort to be nostalgic, but instead explained that Congress' deliberations over an "agenda" was creating uncertainty for business. "I think the priority ought to be get rid of the agenda," Cramer said. "I hear the...