Wednesday, February 25, 2009

Rick Santelli

- In the 1980s, worked at Drexel Burnham Lambert -- the same bank where junk-bond king and convicted felon Michael Milken did his dirty, greedy work!

- Now works for the pro-Wall Street cable TV outfit CNBC, where he appears live from the floor of the Chicago Board of Trade (CBOT)!

- Thinks CBOT traders -- most of them rich, white Republicans -- are a "pretty good cross-section of America"!

- In recent years, Santelli and his "cross-section of America" made making a mint trading unregulated derivatives -- until unregulated derivatives ended up cratering the stock market and destroying the economy!

- Recently proposed a "Chicago Tea Party" -- a revolt against the Obama stimulus package!

- Says out loud what most Wall Streeters secretly believe -- that Americans who are coping with foreclosures are "losers"!

- Outraged at those "losers," whom he believes are at fault for the current dire situation -- not at the bankers who aggressively sold and securitized subprime mortgages!

- Has yet to express outrage at bankers who are accepting bailout billions!

- Get this: Believes that the founding fathers -- Benjamin Franklin, Thomas Jefferson -- would agree with him!

- In September 2008 -- just a couple of weeks before the markets crashed -- claimed "the economy is healthy"!

- Sounds remarkably like Matt Foley, motivational speaker!

- Recently ripped a new one by Jon Stewart!

- Blowhard -- and idiot!

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