Video: The obligatory “CNBC, Chicago traders dump on Obama’s mortgage plan” clip

posted at 1:20 pm on February 19, 2009 by Allahpundit

The way Drudge is hyping this, I thought there’d be a mob of brokers on the floor chanting “no justice, no peace.” In fact, it’s CNBC anchor Rick Santelli pitching some pro forma populism about the unfairness of having to bail out deadbeats to a few obliging hoots and whistles. Try decaf, Matt.

I’m all for the tea party, though. Who’s in? Exit question: You don’t really want the Octomom to have to live on the street, do you? Click the image to watch.


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Awesomely awesome.

nickj116 on February 19, 2009 at 1:22 PM

Count me in. Can’t afford a ticket to the coast, though. I’ll have to be dumping it into Lake Michigan.

MadisonConservative on February 19, 2009 at 1:22 PM

I’m in Allah, throw that bum out of the White House

Lance Murdock on February 19, 2009 at 1:23 PM

Try decaf, Matt.

Have another cup, I say.

Spirit of 1776 on February 19, 2009 at 1:23 PM

I’m not a big tea fan, can I bring Diet Pepsi Lime?

stonemeister on February 19, 2009 at 1:23 PM

Time to resurrect the Sons of Liberty.

Doughboy on February 19, 2009 at 1:24 PM

Under the current mortgage bailout plan from the ONE, all I have to do to reduce my principle, and intrest rate is miss one payment.

It would save me about 20,000 this year.

Oh great obama, why should I pay my mortgage again?

sonofdy on February 19, 2009 at 1:24 PM

I’m all for the tea party, though. Who’s in?

I’m in … we need organization first. AP leads the Northeast regiment.

We need to form up the Southeastern … The NE and SE regiments will meet at D.C.

darwin on February 19, 2009 at 1:24 PM

Ace made a statement about the “mob” comment from the anchor.

To be fair, it was Kiernan who made the first “mob” comment. I’m sure it was tongue in cheek.

Kiernan is pro-capitalist, pro-market, and anti-Chairman Obama.

It was a great moment/video overall.

Go Ranger Rick!

aquaviva on February 19, 2009 at 1:24 PM

Common sense is becoming a rare commodity.
Thanks for using it, Rick!

Star20 on February 19, 2009 at 1:24 PM

I thought this was fantastic.

CP on February 19, 2009 at 1:24 PM

In fact, it’s CNBC anchor Rick Santelli pitching some pro forma populism about the unfairness of having to bail out deadbeats to a few obliging hoots and whistles.

I like Santelli a lot. And I think it took courage. His boss is GE’s Jeff Immelt who is an economic advisor to Obama. I hope Rick’s job isn’t in jeopardy.

JiangxiDad on February 19, 2009 at 1:24 PM

The Facade is cracking and peeling. This PorkBill will be the end of us all. The sooner the people know it the better.

portlandon on February 19, 2009 at 1:24 PM

On a side note, I HEART Squawk Box. It’s the best morning show by far.

Lance Murdock on February 19, 2009 at 1:24 PM

We need our big shot leaders at Hot Air to organize this tea party/protest thing. I know Allah and Ed aren’t “community organizers”, but come on…. organize it and we will come.

ckdexterhaven on February 19, 2009 at 1:25 PM

Smart American’s? …No way!

Firebird on February 19, 2009 at 1:25 PM

In fact, it’s CNBC anchor Rick Santelli pitching some pro forma populism about the unfairness of having to bail out deadbeats to a few obliging hoots and whistles.

The same way Matt hypes it you tend to downplay it.

I’m all for the tea party, though. Who’s in?

I am. But do we actually dump tea? I’m thinking iPhones.

amerpundit on February 19, 2009 at 1:25 PM

I’d be “in” for a tea-party.

aquaviva on February 19, 2009 at 1:26 PM

Americans voted for socialists in 2006 and 2008.

Surprise, surprise!!

You got socialism.

angryed on February 19, 2009 at 1:26 PM

AP leads the Northeast regiment.

Don’t count too much on the NE regiment. They’re more likely into Diet Snapple Raspberry Tea than any reenactments.

JiangxiDad on February 19, 2009 at 1:26 PM

I’m all for the tea party, though. Who’s in?

Me, I am in.

It will have to be the great salt lake though.

sonofdy on February 19, 2009 at 1:26 PM

Decaf?

I say anything to highlight the crap situation Obama, Reid, and Pelosi have put us in (and trying to push more crap, sandwich-form, natch, down our throats).

Abby Adams on February 19, 2009 at 1:26 PM

I’m all for the tea party, though. Who’s in?

Me, but I don’t think the Hudson River needs more crap in it.

Pasalubong on February 19, 2009 at 1:27 PM

The Messiah has only been running things for a few weeks – and his “political capital” (pseudo popularity) has keep citizens’ mouths shut. But boy, the cracks are starting to appear in the dikes………..these folks in this clip are Mad with a capital “M”. The columns of The Obamatron Greek Temple are starting to shake, rattle and roll…………

Cinday Blackburn on February 19, 2009 at 1:28 PM

I like Santelli a lot. And I think it took courage. His boss is GE’s Jeff Immelt who is an economic advisor to Obama. I hope Rick’s job isn’t in jeopardy.

JiangxiDad on February 19, 2009 at 1:24 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

Have another cup, I say.

Spirit of 1776 on February 19, 2009 at 1:23 PM

Make it an espresso.

BuckeyeSam on February 19, 2009 at 1:28 PM

I’m all for a modern Boston Tea Party.
What are we gonna use instead of tea?

Badger40 on February 19, 2009 at 1:28 PM

the silent majority indeed.

sun on February 19, 2009 at 1:28 PM

What are we gonna use instead of tea?

Badger40 on February 19, 2009 at 1:28 PM

Burn mortgage coupons.

JiangxiDad on February 19, 2009 at 1:29 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

And the FBN ladies are a lot hotter. He probably did it on purpose.

BuckeyeSam on February 19, 2009 at 1:29 PM

Oh-& what are we gonna dress like this time?
I would bet the traditional garb would be considered too racist.

Badger40 on February 19, 2009 at 1:29 PM

I’m all for a modern Boston Tea Party.
What are we gonna use instead of tea?

What’s Obama’s beverage of choice? Mango-flavored Snapple?

Pasalubong on February 19, 2009 at 1:29 PM

I’m all for a modern Boston Tea Party.
What are we gonna use instead of tea?

Badger40 on February 19, 2009 at 1:28 PM

How about dollar bills….they’ll be worthless soon anyway!

melachiro on February 19, 2009 at 1:29 PM

A list of pro-market types at CNBC. I’ll start.

1. Rick Santelli
2. Michelle Carusso-Cabrera
3. Joe Kiernan
4. Charlie Gasparino
5. Larry Kudlow
6. Melissa Francis
7. ?

aquaviva on February 19, 2009 at 1:29 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

Haven’t ever seen it (don’t ask.) But glad to hear that, and hope this is a career enhancement for Rick.

JiangxiDad on February 19, 2009 at 1:30 PM

What are we gonna use instead of tea?

Democrats?

darwin on February 19, 2009 at 1:30 PM

Santelli is one of the few reasons I watch CNBC. Him and Kudlow.

genso on February 19, 2009 at 1:30 PM

How about is we send crates full of tea to Congress? So many that they can’t actually do anything.

RadioFreeUSA on February 19, 2009 at 1:30 PM

Pouring tea in the water would affect indigenous species and affect the local environment. Not to mention that carbon dioxide it would emit.

No tea parties. Sorry.

lorien1973 on February 19, 2009 at 1:30 PM

Burn mortgage coupons.

JiangxiDad on February 19, 2009 at 1:29 PM

Good idea. I really didn’t want to burn my bra. I still need it.
But my small-town bank will probably not be going along with this idea. :(

Badger40 on February 19, 2009 at 1:31 PM

aquaviva on February 19, 2009 at 1:29 PM

I’m beginning to think Erin Burnett should be added to that list. She is getting tougher since the coronation. Also, Art Cashin from UBS.

genso on February 19, 2009 at 1:31 PM

If they had a tea party and threw it in the water, it would be a a pollutant and would be a terrorist act on native fish and wildlife, that ATF would be called, FDA would come because it was a food good thrown into a public water way. We would be treated worse than Guantanemo Bay Terrorists.

Why not shred mortgage payment documents in a public square? Let that blow in the wind and cause havoc.

portlandon on February 19, 2009 at 1:32 PM

What are we gonna use instead of tea?

Badger40 on February 19, 2009 at 1:28 PM

House For Sale Signs? Either that or tax forms?

canditaylor68 on February 19, 2009 at 1:32 PM

How about is we send crates full of tea to Congress? So many that they can’t actually do anything.

RadioFreeUSA on February 19, 2009 at 1:30 PM

It’s a good idea. But I would still rather send them still steaming cow pies. It’s something I have a lot of.

Badger40 on February 19, 2009 at 1:32 PM

I was mad as hell and wasn’t about to take it anymore. Until I read the fine print in the mortgage bailout bill. One section says if you are more than 5% underwater, you don’t qualify. So if you bought a house in the past 3-4 years, you don’t qualify.

Another says you don’t qualify if your mortgage is more than $417K…so if you live within 40 miles of the Pacific Ocean, you don’t qualify.

This is nothing but window dressing folks. Think about the numbers. $75B to help 9 million people…the number Obama is throwing around. Do the math, that works out to about $8333 per person. If you have a mortgage that just went from $1200 a month to $4500 a month, good luck with that $8333 coming your way. It may keep you in the house a few more months, but you’re just postponing the day of reckoning.

angryed on February 19, 2009 at 1:32 PM

I said here that the Obama administration is losing credibility. The video just strengthens that belief.

LFRGary on February 19, 2009 at 1:32 PM

financial guys are generally hilarious. Most have been horrified on more than one occassion. Most have had to wallow in their own mess from a poor decision they made that was utterly and completely wrong. Most know the feeling of thinking you are completely right only to be entirely wrong (and suffer for being wrong).

That teaches humility and respect for truth and reality that most people don’t have.

ThackerAgency on February 19, 2009 at 1:33 PM

Teach, Brother!

Mason on February 19, 2009 at 1:33 PM

Burn mortgage coupons.

JiangxiDad on February 19, 2009 at 1:29 PM

If we’re gonna burn something, I say its effigies of the corruptocrats that got us into this mess.

genso on February 19, 2009 at 1:33 PM

genso on February 19, 2009 at 1:31 PM

It’s hard to get past her “Bush=Chimp” comment from last year.

I think she’s infected with the Hope/Change virus.

aquaviva on February 19, 2009 at 1:34 PM

Try decaf, Matt.

Admit it, rent control seems “normal” to you.

Stephen M on February 19, 2009 at 1:34 PM

Seriously. In.

Tru2my2 on February 19, 2009 at 1:34 PM

I love it.

WisCon on February 19, 2009 at 1:35 PM

I’m organizing one in San Diego, anyone wanna join me?

Defector01 on February 19, 2009 at 1:35 PM

aquaviva on February 19, 2009 at 1:34 PM

That was awkward to say the least. But I have been encouraged with recent interviews and a few slap-downs on that putz, John Harwood.

genso on February 19, 2009 at 1:35 PM

I love this guy. He is certainly saying what needs to be said.

funsutton on February 19, 2009 at 1:36 PM

Count me in!! Lake Michigan isn’t that far from me! I’ll be there!

Oink on February 19, 2009 at 1:36 PM

lorien1973 on February 19, 2009 at 1:30 PM

We’ll dump green tea in instead. Perhaps some herbal combination.

amerpundit on February 19, 2009 at 1:37 PM

I think Drudge is justified in being breathless over it. This is the shot across the bow in the attempted takedown of President Soros.

Schweggie on February 19, 2009 at 1:37 PM

“pro forma populism”?

He made valid points with specific examples in an excellent short speech which rallied the informed persons around him

But you, of course, mock him with the ‘decaf’ snark

This is about as good as it will ever get on MSNBC-Obama; maybe it won’t start any revolutions but it is a meaningful indicator that some obvious truths are out there…….

Janos Hunyadi on February 19, 2009 at 1:37 PM

I’m organizing one in San Diego, anyone wanna join me?

Defector01 on February 19, 2009 at 1:35 PM

Definitely get word out in your local area!

Oink on February 19, 2009 at 1:37 PM

Evict Baracky McChimp from George W. Bush’s old house!

He’s trying to pay the mortgage with tin Hopeychange tokens.

TexasJew on February 19, 2009 at 1:37 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

Agreed – from your post to God’s ears. Kiernan and Kudlow are next.

Fuquay Steve on February 19, 2009 at 1:37 PM

Common sense is becoming a rare commodity.
Thanks for using it, Rick!

That’s why it warms my heart when i get a chance to see it actually utilized.Sign me up for the party

heshtesh on February 19, 2009 at 1:37 PM

I’m ready.

Vashta.Nerada on February 19, 2009 at 1:38 PM

Change it from tea party to keg party. Ill bet you get a good turnout.

Greed on February 19, 2009 at 1:38 PM

Common sense is becoming a rare commodity.
Thanks for using it, Rick!

That’s why it warms my heart when i get a chance to see it actually utilized.Sign me up for the party

heshtesh on February 19, 2009 at 1:38 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

Agreed – from your post to God’s ears. Kiernan and Kudlow are next.

Fuquay Steve on February 19, 2009 at 1:38 PM

FBN would hire him before the ink on the pink slip was dry.

angryed on February 19, 2009 at 1:28 PM

Agreed – from your post to God’s ears. Kiernan and Kudlow are next.

Fuquay Steve on February 19, 2009 at 1:38 PM

genso on February 19, 2009 at 1:35 PM

Okay, the Harwood=Putz won me over. If you can vouch for her as a “friend of ours”, I’ll let her in. ;-)

aquaviva on February 19, 2009 at 1:38 PM

Email Santelli and urge him to keep it up.

squawkonthestreet@cnbc.com

genso on February 19, 2009 at 1:38 PM

“pro forma populism”?

He made valid points with specific examples in an excellent short speech which rallied the informed persons around him

But you, of course, mock him with the ‘decaf’ snark

This is about as good as it will ever get on MSNBC; maybe it won’t start any revolutions but it is a meaningful indicator that some obvious truths are out there…….

Janos Hunyadi on February 19, 2009 at 1:39 PM

Count me in!

Santelli for Senator.

Let the Revolution begin.

petefrt on February 19, 2009 at 1:40 PM

I thought this was very newsworthy in the fact that it orginated on CNBC by one of their anchors. How unusual for NBC to have some patriot on one of their channels.

cjs1943 on February 19, 2009 at 1:40 PM

What are we gonna use instead of tea?

Waffles?

Though I like RadioFreeUSA’s idea of sending quantities of tea to Congress…I have this mental image of Nancy Pelosi buried up to her neck in tea leaves.

ScaryBiscuits on February 19, 2009 at 1:42 PM

How ’bout we each bring a 55 gallon drum of dirty motor oil. Being careful not to spill, tip them precariously over the water and create a hostage crisis. “I’ll do it! I swear I’ll do it! I’ll kill every alga in this whole effin lake!” You know, break up the lefty coalition by driving the wedge ‘tween the ecofreaks and the redistributionists.

Besides, dems don’t handle hostage crises so well.

innominatus on February 19, 2009 at 1:42 PM

I’ll forego business op’s for 3 days; one day drive up, one day protest, one day back. If we make this for a Friday, us “Non-Henrietta Hughes and Non-Peggy-The-Moocher” types won’t lose too much pay.

Sign me up.

Key West Reader on February 19, 2009 at 1:43 PM

I am. But do we actually dump tea? I’m thinking iPhones.

amerpundit on February 19, 2009 at 1:25 PM

Well, to match the spirit and intent of the Boston Tea Party, we’d have to dump something that they’re unfairly taxing the hell out of and raising the tax on that particular commodity all the time, like gasoline.

aero on February 19, 2009 at 1:44 PM

What are we gonna use instead of tea?

Badger40 on February 19, 2009 at 1:28 PM

Merely jack up your witholding allowances. Don’t even have to go to Chicago for that.

Vashta.Nerada on February 19, 2009 at 1:45 PM

Email Santelli and urge him to keep it up.

squawkonthestreet@cnbc.com

genso on February 19, 2009 at 1:38 PM

Done. Thanks!

petefrt on February 19, 2009 at 1:45 PM

I’m happy to pay for my neighbors’ mortgage.

Provided, of course, I get the deed to the property, and I get to charge him rent.

Once I’ve paid off the mortgage enough, I’ll evict him (not renew the lease), level his ugly house, and put in the swimming pool I’ve always wanted.

Mew

acat on February 19, 2009 at 1:46 PM

On Drudge, apparently inflation is already starting to rise. Last month it was 0.8% instead of the expected 0.2%.

If it continues at that rate, it will come out to about 10% for the year.

MarkTheGreat on February 19, 2009 at 1:46 PM

wow Allah – keep stuff like this coming!

Quetzal on February 19, 2009 at 1:47 PM

What are we gonna use instead of tea?
Democrats?

darwin on February 19, 2009 at 1:30 PM

And the seas will rise 20 feet flooding Manhatten and Florida.

WashJeff on February 19, 2009 at 1:48 PM

I love it! We need more people standing up and vocalizing our beliefs!

search4truth on February 19, 2009 at 1:48 PM

It’s a good idea. But I would still rather send them still steaming cow pies. It’s something I have a lot of.

Badger40 on February 19, 2009 at 1:32 PM

How about cow pies wrapped in the Stimulus Bill?

RadioFreeUSA on February 19, 2009 at 1:49 PM

It begins – all big movements start with one man (or woman) willing to say “the king has no clothes”

jake-the-goose on February 19, 2009 at 1:49 PM

Geez, did the U.S. just wake UP. Good Lord..

upinak on February 19, 2009 at 1:49 PM

How ’bout pork rinds in the lake/ocean/river?

Tell me the dates – I’ll be there.

stenwin77 on February 19, 2009 at 1:49 PM

Do we really have to continue to support the Obama Socialist Media Group? Couldn’t we have just linked directly to Drudge?

Where was Fox on this!!!

DannoJyd on February 19, 2009 at 1:50 PM

Well, to match the spirit and intent of the Boston Tea Party, we’d have to dump something that they’re unfairly taxing the hell out of and raising the tax on that particular commodity all the time, like gasoline. Ourselves.

aero on February 19, 2009 at 1:44 PM

There, fixed that. Sign me up!

Key West Reader on February 19, 2009 at 1:50 PM

How many are ready to stop right now paying for their mortgages in protest? just for a couple of months. That is something very real that we can do right now.

neuquenguy on February 19, 2009 at 1:50 PM

I want her to live on the street unless she can figure out a way to spend her government money on things other than video games, designer clothing and baby injections. That is not what the money was meant for, so if she does not spend it the way she should that is her problem, not taxpayers. The kids should be adopted.

Joe Caps on February 19, 2009 at 1:50 PM

Oops I forgot plastic surgery.

Joe Caps on February 19, 2009 at 1:51 PM

somethings blowin in the wind

notagool on February 19, 2009 at 1:51 PM

Where was Fox on this!!!

DannoJyd on February 19, 2009 at 1:50 PM

Ummmm… it was a CNBC show.

Abby Adams on February 19, 2009 at 1:51 PM

I thought this was a big deal too. Awesome!

carbon_footprint on February 19, 2009 at 1:51 PM

How many are ready to stop right now paying for their mortgages in protest? just for a couple of months. That is something very real that we can do right now.

neuquenguy on February 19, 2009 at 1:50 PM

Not at the risk of my credit rating, reputation, core beliefs in personal responsibility, non-dependence on gubmint cheese… oh the list goes on. But I love the thought process, if we could do it without risk.

Key West Reader on February 19, 2009 at 1:52 PM

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