Uncomfortable CNBC Moment - Rick Santelli Rips Meredith Whitney For Calling Tea Partiers 'Freaked Out, Unemployed White Men' Tells Her 'To Stick To Munis' (Heavy Sarcasm)
CNBC Video - Santelli battles Whitney - Aug. 10, 2011
Brilliant LIVE moment from Squawk Box this morning as Santelli responds to Whitney on air over her comment about the Tea Party. Don't skip this.
Whitney:
"Call it Tea Party, whatever you will, the fringe element is I characterize (as) freaked-out white men who are unemployed and have been unemployed for three years and they’re scared to death. Three to four million of them are about to roll off unemployment benefits in the next three to four months. This is only going to get worse."
Whitney said extending unemployment benefits, which already have been pushed to 99 weeks, is not the answer.
"You feel better about yourself when you’re working. Kids feel better about their parents when they’re working. Having a job is more than having a paycheck. To push for the extension of unemployment benefits is going to and should unleash absolute backlash against this administration because that’s a horrendous idea."
Then it's Santelli's turn, and the fun begins.
For those who aren't aware, Whitney made a famous call on 60 Minutes that there would be hundreds of municipal bankruptcies in 2011, which hasn't happened, and she's taken some heat in the financial press for being wrong. Santelli inserts the blade and twists.
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UPDATE - Based on comments, it appears some readers are a little confused about Santelli. He is NOT a commodities trader. He is merely a reporter for CNBC, and he has vehemently opposed EVERY bailout so far, from TARP on down the line, including all stealth Fed bailouts of Wall Street.
Aug 16, 2011 at 11:38 AM
Reader Comments (17)
Coming soon to a municipality near you.
Trump Changes Gears, Now Buying Bluechip Stocks
http://www.cnbc.com/id/44102433
[snip]
The stocks he purchased: Bank of America, Citigroup, Caterpillar, Intel, Johnson & Johnson and Procter & Gamble.
Video included.....
It's time for those of us who participate in the Real Economy to throw off the shackles of the investor oligarchy, we can start by burning Santelli and the rest of his class at the stake on the National Mall, along with their whores in congress and all lobbyists.
What a D-bag!
Hello, one thing the American People do know, is right from wrong..........the Fuc**ing whores in washington dont under stand......
The American People have had enough..........
With 50% of the county not responsible for paying ANY income tax and in fact, EXISTING off the backs of the hard work of the other 50% is what is FREAKING PEOPLE OUT.
Federal TAX PAYER BAILOUTS to Wall Street banks, European Central Banks and Unions is FREAKING FLIPPING PEOPLE OUT.
A Government no longer accountable to the citizens, clamping down on freedoms at airports, while tightening the nooses of economic control through ever increasing taxes and communist style regulations is FREAKING PISSING PEOPLE OFF.
Lear Jet, intractable, self serving, elitist career politicians are FRICKEN PISSING PEOPLE OFF.
Out of touch, Belt Way/ Wall Street Bitches such as Whitney are FRICKEN PISSING PEOPLE OFF.
This thoughtless Bitch had better keep doing what ever it is she does and hope that she can remain in her tight little rarefied circles up off the gritty streets. The swarming masses of black and brown immigrant "Have Nots" don't have much use for good looking society blonde these days, except to take a $1200 Gucci off her shoulder and maybe some jewelry. She will really stand out as a "Haves" to pick off. Then she we'll see which White People are FREAKING OUT.
I smell a Revolution in the air