Posted by: John Gillmartin | February 20, 2009

TRADERS’ OUTRAGE – Santelli’s Chicago Tea Party

UPDATE: Chicago Tea Party goes International

Rick Santelli proves not all that is in Chicago is windy and/or crooked — it is being called Santelli’s Tea Party.

The CNBC video of the live report on the floor of the Chicago  Mercantile reveals how deeply trader outrage at the Democrats’ Stimulus Bill runs … you must see it to really appreciate it.

What were they upset over? The notion they may have to pay their neighbor’s mortgage, particularly if the neighbor bought more house than he could afford.

Not everyone is happy with Rick; pools are forming on how long it takes NBC to bring a sledge down on his career.

Some consider him a truth hero; seeing he cited the Founders, Franklin, and Jefferson.

In a related piece, “NRO Talks to CNBC’s Rick Santelli,” by Stephen Spruiell …

Earlier today, Kathryn posted a link to the video of CNBC’s Rick Santelli giving voice to what he described as a groundswell of discontent over the president’s new mortgage plan. I (Spruiell) caught up with Santelli just moments ago and talked to him about what he says has been “kind of a crazy day.”

The article has Santelli saying …

At the end of the day, it’s simple. A lot of the president’s advisers are saying that there’s a multiplier effect to the government money, and it’s over one. Now if that’s true, then the government should spend non-stop for the rest of our lives, because we’ll get a positive return. And it makes no sense.

But Santelli makes sense.



  1. […] Michael Patrick Leahy (#tcot) announces online conservative activists have rallied to CNBC’s Rick Santelli’s call yesterday, backed by mortgage traders, for a “Chicago Tea Party” to protest the Obama […]


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