Rick Santelli

Santelli Attacks Biden's Claim Economy Is Worse Than Expected
By Noel Sheppard | July 7, 2009 | 10:43 AM EDT

Why is CNBC's Rick Santelli one of the few press members willing to point out when the emperor isn't wearing any clothes?

As you ponder that important question, consider how Santelli on Tuesday morning recognized how absurd Vice President Joe Biden's Sunday comments were concerning the Obama administration misreading how bad the economy was.

After all, as Santelli marvelously asked: "How many hundreds of times has the current administration talked about the worst recession in history? The worst time since the Depression?" 

Exactly, but that wasn't all: 

Santelli Blasts Obama's Warning on Taking 'Reckless Risks' as 'Un-American'
By Jeff Poor | June 9, 2009 | 4:52 PM EDT

Should it be the role of the government to determine what amount of risk is appropriate in the private sector? President Barack Obama could have been interpreted as suggesting that much in comments he made about TARP repayments on June 9.

CNBC's Rick Santelli responded to those comments earlier in the day from Obama, "that those who seek reward do not take reckless risks." Santelli said on CNBC's "Power Lunch" that it's not the role of the government to make those judgments.

"It makes me a little nervous and some of the people on the floor express this - whether it was the end of the last administration or the current administration, you know to really understand what's wrong and what needs to be right - that statement's very un-American," Santelli said. "You know, why should the government think they know the magic blend of risk and reward? It's the government's role not to fall asleep at the switch, not to have products that are unregulated and to have speed limits."

Santelli Claims Geithner 'Lying to the American People' on Monetization of Debt
By Jeff Poor | June 3, 2009 | 2:39 PM EDT

With the federal government issuing massive amounts of debt and the Federal Reserve purchasing it in the name of keeping interest rates down, questions have arisen about impact on the U.S. dollar.

On June 2, CNBC's "Power Lunch," aired a clip of the network's chief economics reporter, Steve Liesman interviewing Secretary of the Treasury Timothy Geithner. Geithner claimed the Federal Reserve wasn't monetizing the debt the government was accruing. Following that clip, CNBC's Chicago Mercantile Exchange floor reporter Rick Santelli, famous for inspiring the anti-tax-and-spending tea parties, questioned Geithner's denial of debt monetization.

"Well, you know the first part of that question was economists are worried about quantitative easing - are we monetizing?" Santelli said. "And his answer was no, we have a strong independent central bank. Now the latter may be true but it certainly isn't an answer to the question and I put forth, and I'd like feedback everybody - that quantitative easing can't exist without the monetization process. We issue debt; we print the money to buy it. That is monetizing. I can't believe that was his answer."

(h/t The Radio Equalizer: Brian Maloney)

Santelli Takes on Another Lefty Blaming the Right for Economic Hardship
By Jeff Poor | May 7, 2009 | 7:46 PM EDT

For whatever reason, CNBC keeps lining up challengers to take on its Chicago Mercantile Exchange floor reporter Rick Santelli over his self-reliance, pro-taxpayer persona - whether it's Steve Liesman, Arianna Huffington or this time, Keith Boykin - editor of The Daily Voice, a CNBC contributor and a BET TV host.

ON CNBC's May 7 "The Call," Santelli took on Boykin in the program's "The Call of the Wild" segment. Boykin was armed with the usual anti-George W. Bush talking points to defend President Barack Obama and his policies.

"Look what he inherited first of all," Boykin said.

"He didn't inherit anything," Santelli said. "He ran for office, it was his choice."

Santelli Excoriates Liesman for Acting Like Nixon, Saying 'Dumb Things'
By Jeff Poor | May 5, 2009 | 3:36 PM EDT

CNBC's Steve Liesman has always gone after tea party inspiration and network floor reporter Rick Santelli for his views, but this time it was Santelli playing offense.

The CNBC "Power Lunch" crew was discussing Bank of America (NYSE:BAC) CEO Ken Lewis and disclosure of details surrounding his bank's acquisition of Merrill Lynch May 5. Santelli accused Liesman, CNBC's senior economics reporter of saying "dumb things" and acting like Nixon, when he suggested there could be a compelling reason for Lewis was not forthcoming about the acquisition.

"Ask the question in a more compelling way which is - I want you to save the world and not disclose," Liesman said.

Fireworks: Kudlow, Santelli Rail Against the Corruption of TARP and Government in the Private Economy
By Jeff Poor | April 24, 2009 | 3:29 PM EDT

If CNBC on-air talent has really had their hands tied by General Electric and NBC management on criticizing the current administration's economic policy, you couldn't tell it from watching Rick Santelli and Larry Kudlow.

 On CNBC's April 24 "The Call," Santelli expressed his frustration with an overreaction by the government to solve the financial crisis when Kudlow asked him about the expansion of bailout obligations from the original TARP bailout price tag $750 billion to the $3 trillion.

"Listen - I'm glad I didn't say that, I'm glad I didn't say all that," Santelli said. "Do I disagree with it? Probably not. But, I'll take it a step farther - in the beginning, whether it was the commercial paper program, there was a need just like babies have a need for milk. But I don't need to drink a couple of gallons anymore."

O'Reilly Claims 'Corruption': GE Using CNBC, MSNBC to Promote Cap-and-Trade for Financial Gain
By Jeff Poor | April 23, 2009 | 9:11 PM EDT

It has been something that there have been rumblings about, but no one has really put the x's and o's together entirely - that General Electric (NYSE:GE) is using its media arm, NBC Universal to promote President Barack Obama's so-called progressive agenda for its own financial gain.

However, as just previewed by Amy Ridenour, Fox News Channel host Bill O'Reilly attempted to do so at the top of his April 23 "The O'Reilly Factor" broadcast during his "Talking Points Memo" segment. O'Reilly outlined how Obama has gotten support from the NBC networks both pre-election and post-election.

"Will General Electric get paid for supporting President Obama - that is the subject of this evening's Talking Points Memo," O'Reilly said. "As everybody knows, GE, which owns NBC has been very aggressive in helping Barack Obama - first supporting the president in the election and now attacking his critics."

CNBC Allows Santelli to React to Tea Parties: 'I'm Pretty Proud of This'
By Jeff Poor | April 15, 2009 | 9:48 AM EDT

While Fox News has celebrated the Taxpayer Tea Party rallies and MSNBC has denigrated them, the impetus of the movement - CNBC and specifically Rick Santelli, its inspiration - had been conspicuously quiet about it.

But on CNBC's "Squawk Box" April 15, co-host Joe Kernen asked Santelli what he thought of being a "cultural phenomenon." That was the same show Santelli famously called out President Barack Obama on for the unfairness of his housing bailout proposal on Feb. 19.

"A lot of articles about these tea parties," Kernen said. "They all have your name in them, like you caused it. Are you actually attending any or are you just sort of got the idea going initially? What do you think? I mean, you're like a cultural phenomenon at this point."

Kurtz Acknowledges CNN’s Lack of Tea Party Coverage -- On His CNN Show
By Jeff Poor | April 12, 2009 | 7:48 PM EDT

With the Tax Day tea party rallies just three days away, outside of the Fox News Channel, the coverage has been lacking. And, it was something that even Washington Post media columnist and host of CNN's "Reliable Sources" Howard Kurtz acknowledged on his April 12 program.

"The folks at Fox News have found something to be for in this age of Obama," Kurtz said. "They are firmly in favor of tea parties. On Wednesday, that would be April 15th - there will be tax protests around the country on the theme of the original Boston Tea Party. TaxDayTeaParty.com says it was inspired by that rant against President Obama's mortgage aid plan by CNBC's Rick Santelli."

However, Kurtz didn't condemn his network and other networks for lack of coverage - but instead explored the notion that Fox News was giving it too much coverage.

Americans Ready to Tea Party Like it's 1773. Where's the Media?
By Matt Philbin | April 7, 2009 | 1:13 PM EDT

BMI's Dan Gainor has the following column on Tax Day and Tea Parties up on the Fox Forum:When you want tea, you bring water to a boil. When you want genuine change, you do the same thing to the American public.Right now, that public is boiling mad and, with April 15 around the corner, the most important thing brewing is tax protest. For every state in the nation, this tea’s for you.Lucky for us, our cups runneth over. The nationwide Tax Day Tea Party movement is building incredible steam with an event on the day most Americans dread – April 15.  It’s an H&R Block Party to take back our government from people who couldn’t manage the budget of a Kwik-E-Mart.

Santelli Takes On Liberal Economist Robert Reich on $1.1 Trillion for IMF
By Jeff Poor | April 3, 2009 | 6:29 PM EDT

For the second time in a week, CNBC's Rick Santelli faced down one of the standard-bearers of liberalism.

First, he explained to Huffington Post editor and founder Arianna Huffington on the March 31 "Squawk Box" that markets are more efficient in correcting economic hardship, in the banking and housing sectors. On CNBC's April 3 "The Call," Santelli took on University of California at Berkeley economics professor and former Secretary of Labor for President Bill Clinton, Robert Reich.

According to Reich, the agreement brokered between President Barack Obama and other G20 leaders - to give the International Monetary Fund (IMF) $1.1 trillion - was positive and should be celebrated.

Santelli vs. Huffington -- CNBC Reporter Takes on Liberal Blog Editor on Economy
By Jeff Poor | March 31, 2009 | 2:00 PM EDT

Both have loyal following, but their fans are on opposite sides of the political spectrum.

CNBC's Rick Santelli rose to prominence earlier this year when he railed against President Barack Obama's policies on live TV from the floor of the Chicago Mercantile Exchange. He's a hit with conservatives staging tea parties to protest the bailout culture in Washington throughout the country. 

Arianna Huffington, who appeared as a guest host on CNBC's March 31 "Squawk Box" has following of left-wing readers and bloggers, as the editor of the very popular Huffington Post blog. The two faced off on "Squawk Box" about how the housing crisis should be handled. Huffington asked Santelli what his thoughts were on more government assistance for underwater homeowners to prevent another round of foreclosures.

"Well, the whole country is underwater I guess," Santelli replied. "It's just a matter of where you want to point the bailout gun. I would certainly like to see some of those mortgage contracts gone through to find out where the erroneous and inaccurate and illegal contracts and separate those from the rest because I think that a lot of the information on the original mortgage contracts is not accurate and I don't think it would be very fair to put those in the same camp as other foreclosures."