The Liberty Voice Transcript Service
Jon Stewart's epic rant against CNBC from March 4, 2009.
Jon Stewart: Actually our guest tonight was supposed to be this guy, his name is Rick Santelli, he's an analyst from CNBC and a former derivatives trader, recently became famous for a sort of Howard Beal moment on the floor of the Chicago Mercantile Exchange, he'd done some critical reporting on the hundreds of billions of bailout money going to failed banks, failed auto makers, insurers of failed banks and auto makers. But when it looked like the President wanted a small percentage of that money to go to actual homeowners, WHOA...David Banner became the incredible Santelli...
Rick Santelli: How 'bout this President and new administration. Why don't you put up a website to have people vote on the internet as a referendum to see if we really want to subsidize the losers' mortgages, this is America, how many of you people want to pay for your neighbors' mortgages; raise your hand?
Floor of Wall Street: Booo!
Rick Santelli: President Obama, are you listening!
Jon Stewart: Yea, man! Wall Street is "mad as hell, and [they're] not going to take it anymore!"
Unless by 'it' you mean 2 trillion dollars in their own bailout money. That - they will take.
Now, Mr. Santelli was invited to come on this program, and accepted the invitation, but on Friday, cancelled or I guess the phrase would be 'bailed out'.
How many people would have liked to see Santelli come on this program?
Are you listening? Are you listening Rick Santelli?
I have to say, I find cheap populism oddly arousing.
But see, Rick Santelli is angry that these 'loser homeowners' are going to get bailed out. He believes in personal responsibility. He believes in not rewarding the 'losers' for missing all the warning signs. I mean for God's sakes the guy works at CNBC. They're the best of the best -- the only business network that has the information and experience that we need.
CNBC Commercial: In business, knowledge is power, and only one network has the information and experience you need.