Rick Santelli’s On-Air Temper Tantrum Over The Stimulus!

I’m sure you’ve seen Rick Santelli of CNBC’s on-air freakout over President Obama’s plan to bail out some homeowners who are facing foreclosure.Why is he so enraged about actually helping real people? Rick Santelli should be angry as hell about Wall Street getting the bulk of the assistance instead of the regular working folks! His anger seems to be both belated & displaced.Not to mention completely unprofessional! Here’s one opinion from Air America on Rick Santelli’s “rant of the year“:

“Remember when the TV weatherman was the goofy whackster? The loud-mouthed buffoon. The oafish goofball. That was then. Enter the formerly staid financial analyst in the media clown circus. CNBC’s Rick Santelli is the latest example and Exhibit A of the decline of rational commentary, critical thinking and the move of “news” programmers to showcase the showboaters and the loud-mouthed, obstreperous analysts whose sole goal is not to elucidate or educate or even illuminate, but to make YouTube.

We saw it first with Jim Kramer the mad man anent mad money. Kramer made the nervous breakdown an art form. Wrong about virtually every prognostication, Kramer wowed us with histrionics and arm-flailing. Think Travis the Chimp on meth. Who cares if virtually every stab at financial and market augury was erroneous, Kramer delivered his baleful bleats daily and on cue. Enter CNBC’s Santelli. Not to be outdone, I suspect he huddled with his agent and concocted his new version of “Son of Kramer,” a new and improved version of Jimmy Boy. His video went viral. From the floor of the Chicago Board of Trade, Santelli plead with President Obama to reconsider mortgage bailouts. It was classic. Kramer must have seethed with envy. This was good. And Santelli joins the roster of other whacky financial types. There’s the perpetually gruff Mark Haines, also from CNBC, who looks like he’s shaking off the effects of a katzenjammer. Cutesy-cutesy Erin Burnett (also CNBC). Poor Neil Cavuto, Fox’s whatever. CNBC has redefined financial reportage by introducing the loud-mouth, hyperkinetic whack job.

What’s very serious, and I’ll be serious, is that the economic situation that is before us is without peer. No words can explicate truly how perilous these times are for us and the world. If Santelli and his band of Financial Merry Pranksters were speaking of and commenting on anything else, any other topic, I wouldn’t be the least offended by this inane pap posing as analysis. And, under other circumstances and times, Santelli’s grandstanding would be tolerable. But when I think of how this fellow has abnegated his responsibility as a journalist, yes, a journalist, to report what is occurring, I seethe. This buffoon speaks, albeit tangentially, to the doctrine of moral hazard, a sound principle that has little to no relevance now. Axiomatic economic prospects aren’t so axiomatic today when viewed through the prism of this meltdown. Deficit hawks, liberal pundits, name it, are reconfiguring and reevaluating economic doctrines to fit today’s financial straits. And while Rome burns, Nero Santelli howls and hoots, hoping to make YouTube.

Is there any responsibility that these folks owe us, the public? Wait. Did I just ask about journalistic ethics and duty? I must have forgotten what year I’m in. This is the era of O’Reilly, Beck and that other guy. TV reportage today is about volume and hubris and chest-thumping. Give me a sound bite, give me video. Content, schmontent.”(End of Excerpt) Read the rest here.

Now, here’s the opinion of some of those folks who agree with Rick Santelli. More on that from The Atlantic:

During campaign season, when the political microscope is turned to high power, anything mildly outrageous can be a theme for a day. Could CNBC’s Rick Santelli be one of those themes for the GOP?

Two websites and a petition have sprung up since Santelli’s now widely publicized on-air rant yesterday, in a pit of traders on the floor at the Chicago Mercantile Exchange, against President Obama’s $75 billion plan to help struggling homeowners refinance, all in favor of Santelli’s proposal for a Chicago Tea Party in July.

“We’re thinking of having a Chicago Tea Party in July. All you capitalists that wanna show up to Lake Michigan, I’m organizing,” Santelli fumed yesterday. “We’re gonna be dumping in some derivative securities, what do you think about that?”

Turns out Santelli may not be the one organizing after all: the conservative American Free Market Fund’s American Future Fund’s petition, launched yesterday afternoon, invites signers to attend such a party in Chicago in July. 3,500 people have pledged to attend, the group says, and the idea of busing people in has been floated. That’s on top of two smaller sites dedicated to promoting Santelli’s suggestion.

The Chicago Tea Party of 2009 will reinvigorate that American and Patriotic spirit; one that demands respect for individual rights and property,” one of the sites, www.reteaparty.com, promises.

Conservative outcry over Obama’s economic policies appears to be real. Prominent blogger Michelle Malkin has promoted several small protests against the stimulus, drawing 500 protesters (by her estimate) in Denver on the day Obama signed it. Only 28 percent of Republicans supported Obama’s stimulus according to Gallup, and 61 percent oppose his mortgage plan according to Rasmussen. The tops of all three network newscasts last night made mention of Santelli or related objections, and Sen. Arlen Specter (R-PA) — one of three Republicans in Congress to vote for the stimulus — was jeered by protesters for the vote yesterday at a press conference in his home state.”(End of Excerpt)Read the rest here.

The battle between the classes is really heating up!

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