Rick Santelli biggest meltdown helped launch the Tea Party. Watch his latest rant and share your thoughts.
Tag Archives: cnbc
CNBC Rick Santelli does it again…unloads on Dow Jones, President Obama, Tim Geithner and the kitchen sink
CNBC John Harwood’s son makes and interesting observation about the Sandy Hook tragedy… was it cynical or insightful?
This was posted on John Harwood’s Twitter feed: My 15-yr-old, re: wall-to-wall CT shooting coverage: “Dad, are those reporters really sad, or are they kind of happy for a big news break?” Share your thoughts.
On Sunday for the first time in over 25 years an American won the NYC Marathon, but some have questioned if he was a real American. Meb Keflezighi, became an American citizen in 1998. Some have questioned can he truly represent the country if he was not born here. Darren Rovell, CNBC Sports Reporter said, “Nothing against Keflezighi, but he’s like a ringer who you hire to work a couple hours at your office so that you can win the executive softball league. The positive sign was that some American-born runners did extremely well in yesterday’s men’s race. If any of them stand on the top step of the podium in Central Park one day, that’s when I’ll break out my red, white and blue.” So Keflezighi is not American enough to be worthy of our cheers. When did we start questioning the status of someone’s citizenship? It is this same mindset that has plagued the president. He was in fact born here but to this day some on the right continue to ask for proof of citizenship because he is not just like them. One has to wonder if Keflezighi’s skin was more white than brown would he have been worthy of the reporter’s cheers?
When I received my Newsweek I was mildly amused when I read the headline “Crazy Talk, Oprah, Wacky Cures and You. Finally somebody had the audacity to question the Queen or tell the Queen you too are a mere mortal. Oprah has influence. What she says has the ability to get people to do or consider things they might not do. When she has a guest on her show by virtue of being her guest they gain credibility no matter what lunacy they might be spewing. One of the people mentioned in the article was Suzanne Sommers who has used some very unconventional medical procedures on herself, but when Oprah gives her a platform she lends legitimacy to that person. I think Oprah is incredible but not infallible. In recent weeks she had a show with two 14 year olds who were ready to have sex. She had a therapist talking to them as if they were a married couple. When she was challenged on this issue by her best friend Gayle she simply dismissed the criticism. Last week CNBC ran a special called the Oprah Effect. It showcased businesses that had been mentioned on the Oprah Show and how that exposure or salute from the Queen made them millions. So it was great to see an article that did not simply rubber stamp her as the all knowing one but actually questioned some of the things that she has been saying or doing. Finally someone had the nerve to say she can’t turn water into wine, walk on water or feed 5000 with two fishes and five barley loaves. She is a woman, a powerful woman but she is mortal and finally someone had the nerve to say it.
The government bailouts AIG, and AIG doles out millions of taxpayer dollars in bonuses to employees who created this mess in the first place. Most Americans are angry and rightfully so, but how do you fix it? Some in Congress are saying break the contract. They contend contracts are broken or re-negotiated everyday. The more frightening response is using the tax code as a punitive weapon. Some are suggesting that the bonuses be taxed at 100%. Is this really fair? Most of the bonuses are being paid to employees at the London office so this would have no effect on them. So in reality it would be largely symbolic since the majority of recipients would not be fazed by it, but is this the way to go? This is a Pandora’s Box that I don’t think we should open. What’s to stop the government from using this weapon recklessly in other scenarios unlike this one? This is a mess that started out wrong, but the fact is two wrongs don’t make a right and punitive taxing is just wrong.
Michael Phelps will be interviewed this morning by Matt Lauer on the NBC Today Show. Phelps was the darling of the 2008 Olympics which is an NBC cash cow. Phelps has given all indications that he will in the 2012 games. So we are witnessing corrective steps to re-establish him back to his hero status. NBC is a more than a willing participant because the Phelps saga brought more viewers to the games then in past years. So we will see Phelps again apologize, tell the kids to not do drugs, he will talk about his unwise choices, and he will say losing the endorsements is not big deal. All of this is orchestrated as he starts his march toward 2012 and NBC will be right there to help the fallen hero reclaim his crown.
This morning I caught Jim Cramer on the Today Show and Morning Joe. Cramer has been very critical of the way the Obama administration has been handling the economic crisis and he has spoken out loudly against some of their policies and policy makers. Cramer has also not been afraid to tell people what stocks they should be buying. He was an advocate for Bear and Stearns almost right up until their collapse. Well, comedian Jon Stewart has taken aim at Cramer and highlighted some of Cramer’s miscues, and now we see Cramer on the morning shows in his full victim pose asking the question “why me?”. It is so funny that the Cramers of the world make their money by talking loud. Cramer has been known to be very critical of politicians, economists and anyone else that comes across his radar. He is so bold that his co-workers say he should give up the caffeine, but now when he is on the receiving end of what he has been dishing out he wants to cry foul. As I said in a previous post about his colleague Rick Santelli if you run with the big dogs you better expect to get bitten.
We know times are bad. We know the Stock Market is at it lowest level in 10 years. We know the jobless rate is through the roof, and GMC is about to go belly up. Times are bad but what is the media doing about it? If the media keeps touting all the gloom and doom everyone in this country will be under a suicide watch. We are realist but do we need CNBC reporters declaring the death of civilization everyday. Does anyone report the news without editorializing anymore? We’ve got reporters telling us when to buy and when to sell. Do they view this as their time to shine? What is their job? Is it to report or hype? I expect hype from the fellows at MSNBC, Fox and CNN, but I held the Big 3 to a higher standard since their networks at one time had real journalistic integrity, but sadly that day is gone. So everyday we can look forward to hearing the sky is falling, but we know although times are really bad the sky is not really falling. Now the stock market that’s a different matter.
Last week CNBC reporter Rick Santelli was the man. He called out President Obama and set off a firestorm. He took a page out of the old movie Network and basically said “I’m Mad as Hell and I’m Not Going to Take It Anymore”. His rant was in response to the White House efforts to help struggling homeowners. He asked the traders “did they want to help pay for their neighbors homes, and they responded by saying “no’. He said the President needs to listen to them. He was a ranting, raving caffeine hyped messenger and his message went immediately viral. Well, what Santelli forgot that for every action there is a reaction and that is where we pick up this morning on the Today Show. White House Press Secretary Robert Gibbs called him out by name and said maybe next time he can type his rant out and read it before he shouts it from the rooftop. Santelli said today he took the response as a threat. He was upset that the White House had called him out by name. He wondered why they didn’t just say that “cable guy” or something like that. When you mess with the big dogs you better expect to get bit. Santelli enjoyed his 15 minutes of being the voice of the frustrated, but he does not seem to be enjoying the backlash nearly as much. This morning Lauer said to him that when you call somebody out you need to expect to get called out. Lauer said he did not feel the White House was actually threatening him. Bottomline is that if you call somebody out you better expect some repercussions and it seems that Santelli never learned the childhood lesson of if you throw a stone you better duck.