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Rick Santelli vs. White House

Sat, Feb 21, 2009

Business News

Thursday, on CNBC, Rick Santelli voiced his opinion on Obama’s housing plan. Now Rick Santelli and others on CNBC often debate their views and opinions on what is going on in the market and what the government is doing. These debates often get very heated and CNBC even has a section called “Call of the Wild” where two reporters really go at it arguing their opinions on a topic.

Before the markets opened on Thursday, the topic of discussion was Obama’s housing plan that was recently announced. For those that don’t know, Obama announced a housing plan to help people that are struggling with paying their mortgage. (This is just the basics of it, if you want to read the whole plan, head over to WhiteHouse.gov.) Because the plan takes tax payer’s money and gives it to those that are struggling with their mortgage, many are opposed to it and for good reason.

So when Rick Santelli was asked what he thought about the plan, he was very passionate as he often is in describing his view. He also often polls the traders that are standing behind him working to see what they think. So he launched into a really good speech with people cheering right behind him, it was great. Check out the video of it below:

 

This is great television and it really wasn’t anything out of the ordinary in terms of the content and discussion that CNBC has on a daily bases. But this little segment seemed to really strike a nerve with a lot of people and it spread like wildfire across the Internet and CNBC also showed the clip over and over again throughout the day adding fuel to the fire.

The next day, at the White House, Robert Gibbs (the White House Press Secretary) fired right back at Rick Santelli! I have never seen anything like this. Gibbs is representing the White House of the United States of America and he is outright bashing someone on a cable news network! Here is that video:

Then Friday night, Rick Santelli responded to Robert Gibbs saying he read the plan and he understands it and he still has big problems with it. Then he rips up the papers and throws them in the air. LOL! This is great stuff. Watch it here: http://www.cnbc.com/id/15840232?video=1041856849&play=1


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