OK, so that's not exactly what happened... But it's not too far off.
I’m sure some of you have heard or seen the absolute RANT by one of CNBC’s on air personalities, Rick Santellil. Rick, probably the biggest corporate and wealth whore next to Larry Kudlow and the "money honeys" went on about a five minute rant right in the middle of the Chicago trading floor about Pres Obama’s housing proposal and how Obama’s just giving hard earned tax money away to people who are essentially welfare kings and queens, you know, anyone make less than Santelli and all his rich buddies. He then turned to a group of traders and asked basically if they wanted their hard earned tax dollars to go to their neighbor who has one more bathroom than they do in their house and won’t pay their mortgage. If you asked that question to 100 people, 99 would probably respond just like the guys actually did respond...boos and yelling. He then turned to the camera like Tony Montana, held up his hands and then yelled to the camera "President Obama are you listening". Obviously the way he phrased the question he knew the response that he was going to get.
Basically, this has confirmed a suspicion I've had for quite a long time. CNBC has become nothing more than "Faux News Lite" with occasional "business news". I used to appreciate their financial reporting, but now I hardly ever watch that network. Why? All they ever do these days is parrot GOP talking points!
At least "The Real Housewives" don't pretend to be anything more than socialites and socialite-wannabes. CNBC, on the other hand, pretends to be a legitimate "news network". So why has Rick Santelli been going all over the teevee channels today to trash President Obama's mortgage plan?
Now don't get me wrong, I certainly have no problem with questioning authority. Honestly I myself may agree with this New York Times editorial that President Obama's mortgage plan may not be enough, as it helps the homeowners fast approaching foreclosure but not the homeowners with "upside-down mortgages" who aren't that much farther. Nonetheless, I can't stomach any more of the lies from the CNBC talking heads! Obama's plan is not "welfare for lazy people", and it doesn't "redistribute wealth to people who can't afford it". Again, we need to be doing MORE to prevent further collapse of the housing market, not less!
So if you're as sick and tired of the right-wing hijack of CNBC as I am, please let them know.
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And as long as they keep pulling this crap, stick to Bloomberg for financial news. At least they report it instead of trying to make it.