Sunday, March 1, 2009

"Rabble Rouser" Rick Santelli on CNBC

VIDEO: Rick Santelli - Rabble Rouser and Revolutionary Leader
RICK SANTELLI (on stock Market floor): ...give them to people [stimulus money] who might actually have the chance to prosper down the road and reward people that can carry the water instead of just drink the water

Unknown trader on the floor says facetiously "that's a novel idea. What?! Who thought of that?" Followed by wild applause from the guys on the floor

JOE in studio: Rick they're like putty in your hands
RICK: No they're not Joe. They're not like putty in our hands. This is America! (Yelling to the floor) "How many of you people want to pay your neighbour's mortgage that has an extra bathroom and can't pay their bills. Raise your hand?"

The crowd boo loudly in response

JOE: It's like mob rule here, I'm getting scared...
WILBUR: Rick I congratulate you as your new incarnation of revolutionary leader...
It's an entertaining and fascinating piece of video, reminiscent of a wrestling promo with the call and response elements. The Rick Santelli rant getting quite a bit of play understandably for the critics of the Administration's stimulus plan.

It's worth noting that together with the "overreaching neighbours" and "misguided politicians" Santelli is demonising, the "aloof men" on Wall Street who were living lavishly in times of precarious prosperity figure highly as villain culprits also. These characters surround Santelli so it creates an awkward and unconvincing visual that might give pause for viewers on board with Rick's Santelli's sentiment.

As CrooksandLiars points out, Rick Santelli may have been misguided in his own judgment in the past - Rick Santelli said the economy was healthy right before it crashed

Read a previous post on the players of the economic meltdown, including perspectives from the rich and poor, the winners and losers.

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