Is CNBC The New Fox News?
If good looks was a minute/ You know that you could've been an hour- Smokey Robinson, 'The Way You Do The Things You Do'
Another week, another must-see video at CNBC. I always thought Fox was the out-of-touch, nutball network. No longer. Fox passed the torch to CNBC. The worst people in the world are no longer right-wing idealogues. Nope, they’re greedy capitalists who can’t stand getting blamed for anything. This week’s worst person in the world is CNBC’s Rick Santelli. Rick attempts in this clip to ignite a revolution amongst traders at the Chicago Board. Why are they outraged? They’re outraged because they have to pay for their neighbor’s mortgage. What do they want? They want the feds to bail them out.
No, I’m not making this up.
Hey, Rick- who offered mortgages to people who couldn’t qualify for them? Banks. Who bound those bad mortgages together and sold them as financial products? Investment banks. Who gave those products A ratings? Bond raters. What do all three of these have in common?
They make up a large part of the financial industry! Of which Rick, you are a member. So, no, you shouldn’t get a bailout from anybody. In fact, you shouldn’t be on TV unless you’re selling Shamwows.
Best part of the clip for me? When Rick says that the trading floor of the Board is the ’silent’ majority. Ha! How out of touch can you get? Hey Rick- leave Rush Street and hit some bars like the Forge or Goal Post Lounge on the Southwest Side. Or maybe a couple of the steppers’ clubs, too. You’d find that the majority of Americans are hard-workers who couldn’t explain to you what a derivative is if their life depended on it. Yet these are the people your industry failed. Sure, Americans got greedy in the good times. We got burned. But we don’t always expect good times.
Not the finance industry. They want their bonuses. They want their skyboxes. They want their coke and their whores. Me, I’ll take the guys at the Goal Post Lounge or TC’s in Oak Lawn any day over the douchebags at the Board. If you think sitting on a computer all day and betting on others’ miseries is hard work, Rick, get back to the Ayn Rand novel from which you crawled. 
O'Hare Arpt., IL
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