Wednesday, Aug. 11, 2010
Rick Santelli Unleashes His Bailout Rage
Tell us what you really think, Rick. CNBC commentator Rick Santelli's diatribe against the Obama Administration's mortgage-bailout plan on the trading floor of the Chicago Board of Trade has been called the rant of the financial crisis. "The government is promoting bad behavior!" he begins, eliciting cheers from the traders. "This is America! How many of you people want to pay for your neighbor's mortgage that has an extra bathroom and can't pay their bills?" The traders boo, to which Santelli says, "President Obama, are you listening?" Turns out, he was. The following day, White House press secretary Robert Gibbs struck back, saying, "I feel assured that Mr. Santelli doesn't know what he's talking about."