Another Soon to be Popular “Rant” by Santelli
Back in 2009 Rick Santelli had a famous rant against the purported Obama Admin bailout of home owners with underwater mortgages. He claimed that the outburst was spontaneous – it was anything but. Several traders joined the chorus and proclaimed that they will have a ‘tea party’ to protest that socialist ‘outrage’ by the administration. He more or less called the fat cats – CME traders – a “silent majority.” However, that rant marked pretty much the birth of a ‘Tea party movement.’
While I agreed with “no bailouts for anybody” philosophy, the former trader Rick’s outrage was against people with underwater mortgages being bailed out. His outrage against the Wall Street pigs was rather muted.
Well – today he has another interesting rant. This will sure to make some headlines soon.