This is an amazing piece of video:

CNBC on-air editor Rick Santelli flies into a rage when asked to defend his cooked books conspiracy.


Category: Financial Press, Really, really bad calls, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

18 Responses to “An Embarrassing Piece of Video”

  1. gordo365 says:

    The term “jumping the shark” certainly applies to Rick Santelli at this point…

  2. diogeron says:

    My tv is programmed to switch to Bloomberg when Santelli’s face appears on the screen, or at least that’s what Aaple should invent for their iPad mini remote control. I really don’t mind hearing thoughtful analyses from people with whom I disagree, but Santelli is not a thoughtful analyst. He’s a pitch man for a pre-conceived ideology and uses his air time to promote that point of view. His response are predictable. The BLS was right on the $ when the stats reinforced his POV for years, but one month on stars that challenged that POV serves as “evidence” (to Rick) that they’re cooking the books.

    His mentality reeks of Richard Nixon and his anti-Semitic rants about the BLS. CNBC should be ashamed of having him on just to appease the know-nothing’s in the Tea Party.

  3. VennData says:

    I like his style. Like those debates, it’s all about style and I like Rick’s. You can’t judge a debate on the substance of what the speaker’s say. You can only judge style, so that way they can say anything and get away with it.

    - Jack Welch

  4. Frilton Miedman says:

    I switched to Bloomberg, though I was interested in hearing Steve Liesman’s response, I’m absolutely disgusted with the notion of listening to another word of Ricks constant whining….a Jerry Springer guest has as much substance.

    Santelli is a moron.

    For the record, the Feb ’09 rant was the founding moment of the Tea Party, ironically that rant was based on his own error – he hadn’t read the bill bill he was pissing and moaning about and Leisman tried to tell him he was mistaken about the government subsidizing liar loans and home flippers, while he was too busy whining like a 6 yr old to hear it.

    He’d founded the Tea Party.

    The same Tea Party that led to the first downgrade of US credit in history.

    Thank you Santelli, job well done.

  5. bart says:

    Everything is beautiful in its own special way.

  6. contrabandista13 says:

    All of that having been said, Rick did say that the rate would be under 8% before the election… He’s a gad dang genius…. The whole conversation was ridiculous, I like Rick, but I don’t like it when he gets so populous and sanctimonious, it’s not pretty…

  7. Chief Tomahawk says:

    Overlooked is Kernan’s snub of Leisman early… Leisman even verbally objects.

    Guess The Big Picture Conference got the invite list correct–none of the CNBC folks churning out the embarrassing video clips were on the bill.

    Now if they would just send Kernan on assignment to Afganistan…

  8. romerjt says:

    My note to CNBC:

    I just saw Rick Santelli’s cynical rant about the non-story of the unemployment data. How can your network continue allow your staff to treat this as a story? There is no evidence, not one piece. Is this CNBC’s standard for reporting?

    To me it’s a betrayal of journalistic standards, degrading to the network and threatening our liberty as provided by a free press, which seems to have become a press that’s free to say or print anything it wants . . . the reporter “just knew it” . . . what a standard.

    Fire Santelli immediately. And to think Dan Rather was fired because the sources about Bush and his military service could not be authenticated. At least there were sources and documents.

    Years ago I stopped watching Fox News and as of today I will no longer watch CNBC while encouraging everyone one I know and can contact to do the same. This is over the line.

  9. OscarWildeDog says:

    Come on you guys who commented…How long have you been watching CNBC? Through Dennis Kneale, Dylan Ratigan, the bald trader clown who lost it on Ratigan’s show years ago…what do you expect? There is no journalism in play here. Never has been, never will. I mean, if you’re a guest on the show – and I have been, ergo the nom de plume – you get 90 seconds (if you’re lucky) to state your case and make your point. Usually you’re up against another pinhead analyst (yeah, I used to be a pinhead analyst), the producer of the segment, the bloviating on-air talent, and the never-ending rush of commercials (average 24 min/hr, the industry high). Couple ALL THAT with getting money managers pushing their books and always stating the market is going up (maybe not today, but maybe tomorrow…or the next day!), and then you’ve got a horrific piece of s*** on your hands.

    Don’t explain away Kern-hole, LIES-man or Sicktelli with anything resembling reason, logic, ethics or morality. It ain’t there. Take it from one who’s been there.

  10. OscarWildeDog says:

    Hey Barry – long time, long time. I’ve never flamed you or anyone on this thing. But I’ll tell you what. You’ve made your point with your Comments Annotation above. It’s getting old. For those of us who have read and supported you throughout the years, have played fair, and have been civil – well, I think your comments on your commenteers’ comments are getting old. And, if you have problems with some of these jerks who DO flame, you’re well off and connected enough to know there are ways of having your web guy clean house, if you know what I mean. C’mon Barry – treat your loyals right…whaddya say?

  11. Frilton Miedman says:

    Oscar, nowhere near as old as listening to Santelli constantly inject his demented opinion into what’s supposed to be journalism.

    The rest of your post is suggestive that BR censure real opinions and tuck them away from public view, just as CNBC and Fox do.

  12. end game says:

    Bloomberg 100% of the time. CNBC is for the inept sell-side looking for their next value-destroying trade.

    I can’t say it any better than Frilton Miedman (perfect–thank you), diogeron, romerjt, VennData, and Chief Tomahawk.

  13. raholco says:

    Did I hear an ‘Oh, shit’ at around the 01:50-01:52 mark?

  14. Defining Quality says:

    We all choose what we want to believe!
    Actuals facts have NEVER changed what people choose to believe!

  15. XRayD says:

    CNBC became a joke … the Fox News of business.

    With Kernan putting anti-Obama words in practically every guests mouth about uncertainty, taxes, and regulation.

    And the parade of clowns, Welch, the Home Depot guys, and finally something called “Trump Tuesday.”

    Luckily, the new Bloomberg show at 6am is truly about business, and market information – and real political news, instead of the hosts agenda.

    I wonder if the executives at Comcast have ever watched their own morning shows, other than when they are appearing as guests. O r are they basking in their ratings and the rates they charge their advertisers?

  16. socaljoe says:

    The real deception in reporting labor conditions results from the BLS/media focus on U3.

    Large numbers of discouraged workers leave the workforce and the headline number gets better. There it is… in broad daylight. The deception is so obvious, nobody sees it. The naivete of the American public never ceases to amaze me. Why even bother to cook the books?

  17. BG says:

    I share the same thoughts as others on this topic.

    Does Joe Kernan have a lifetime job guarantee at CNBC? This guys sucks big time!! I see how they are making changes trying to improve the ratings of Squawk Box; but, the biggest problem stares them right in the face and they do nothing. Apparently they have made changes behind the camera recently also; because I can hear Joe bitch, moan and belittle the poor guy trying out-do Houdini. CNBC is nothing but a mouthpiece for Wall Street and the RNC and don’t even get me started on Larry Kudlow. OMG!!

    Lastly…No, I am not a Democrat. They are just as lousy as the Republicans. Both parties should have been thrown out of Office years ago.

    The best thing that CNBC can do is report the daily financial news and DROP ALL OF THE POLITICS and of course that would require that they FIRE JOE KERNAN and all the political hacks we see on a daily basis there! (In case You are wondering….Yes, I am also one of those who is a heavy user of the Mute button.)

  18. alnval says:

    Wow. I agree with Chief Tomahawk and BG. The exchange between Kernan and Liesman says it all. Kernan’s deliberate rudeness should not be tolerated. Santelli is there for entertainment. By long standing tradition clowns can say anything they want but Kernan’s grossly inappropriate response to Liesman dramatically shows us that the CNBC group is dysfunctional. This is not the kind of thing that will be cured by adding another Sorkin into the mix. Part of the reason why I watch Bloomberg.