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)
Aug 16, 2011 at 11:38 AM
DailyBail in CNBC, Rick Santelli, meredith whitney, meredith whitney, rick santelli, tea party, tea party, video

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.


"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.

Read more at CNBC...


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.



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