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Santelli Schools Cramer & Co. On The High Freaks

Tyler Durden's picture




 

It started as your everyday hexagonal discussion on CNBC with the anchors up-in-arms over the fact that (shocker) some firms can pay for early access to critical economic data items. The disdain for the 'rich' was palpable as Bernstein, Sullivan, and then Cramer all exclaimed both their amazement and surprise that this was even possible. That was when Santelli stepped into the ring and explained - in what was a relatively well-behaved exclamation - that not only was the fact that early data releases were well-known to every real trader (as opposed to those who pretend for TV) but that the issue was absolutely not about 'early access' but about HFT. When we first brought the perils of HFT to the attention of the broader trading community in 2009, it was the stuff of conspiracy theory - but now (as with many other things) it is conspiracy fact and in a few short minutes, Rick Santelli showed off his co-hosts ignorance of the real market and opened many new eyes to the damage that HFT can do in a market that is, well, anything but Reg-FD fair and balanced to all.

 

Sprinkle in some 'blame-the-rich' arguments, a few totally embarrassing proofs of Cramer/Bernstein's ignorance of trading reality, and Sullivan's desperately brave attempt to keep the entire thing from collapsing into a street fight and these few minutes are well worth the price of admission...

2:00 - "I have never heard of such a thing" - blah blah

5:20 - Santelli exclaims... "For years, subscribers could pay extra money for early access.." and so it begins

The extra 2 seconds that it gives the traders was not an issue until HFT - but now it enables thousands of transactions to take place before any human can hit the big green Booyah Buy button...

 

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Wed, 06/12/2013 - 19:15 | 3651952 Meat Hammer
Meat Hammer's picture

Booyah!

Wed, 06/12/2013 - 19:27 | 3651992 Konami Code
Konami Code's picture

Who is the purple dot at the bottom of the screen at 09:54:58? I want to put my money with them.

Wed, 06/12/2013 - 19:41 | 3652023 knukles
knukles's picture

One more time:  There are no Conspiracy Theories.  They all become Fact.
Breathe deep, my little minions, for the many things you've imagined as conjured in dreamland, silly speculation, science fiction, myth and lore and demeaned as foolish are as real as peanut butter sandwiches and vanilla soda...

The good news is that you're not paranoid. 
The bad news is that your worst nightmares are real....
Why haven't you been chosen to have seen or experienced?
You're not important enough. 
You will understand, as you relearn everything on the path of dis-indoctrination.....

Wed, 06/12/2013 - 19:56 | 3652089 macholatte
macholatte's picture

 

Is this a spastic fit of the "journalists" actually doing their job and not merely mouthing off the propaganda they are handed some kind of fallout from the Obama scandals? What if they got used to it? OMG What a concept!

Wed, 06/12/2013 - 20:07 | 3652131 otto skorzeny
otto skorzeny's picture

They are too stupid to realize if they did something else besides puke up the same stale old shit from the same idiots like cramer their ratings would shoot up.

Wed, 06/12/2013 - 20:17 | 3652170 economics9698
economics9698's picture

Graduate students have been selling this shit for beer money for decades.

Wed, 06/12/2013 - 20:37 | 3652241 FEDbuster
FEDbuster's picture

I thought only Congressmen could trade on inside information legally?

Wed, 06/12/2013 - 22:14 | 3652604 philipat
philipat's picture

Cramer: "If the Government says it's right, it's right"

I rest my case.

Thu, 06/13/2013 - 08:36 | 3653621 ATM
ATM's picture

No kidding. He's an oozing pustule of government omnipotence. 

He needs a good lancing.

Wed, 06/12/2013 - 20:14 | 3652156 Meme Iamfurst
Meme Iamfurst's picture

 

 

Good GOD...you mean people are still watching that bunch of hacks??????

CNBC....Com'on Nothing But Crap

 

I thought they got replaced by Queen For A Day repeats with Bert Parks.

Thu, 06/13/2013 - 00:23 | 3653089 Godisanhftbot
Godisanhftbot's picture

Queen For A Day, you must mean the Wealth Editor

Thu, 06/13/2013 - 00:24 | 3653092 Godisanhftbot
Godisanhftbot's picture

 Fug that, gimme  "I Married Joan" replays

Wed, 06/12/2013 - 20:20 | 3652186 aint no fortuna...
aint no fortunate son's picture

there's another report that goes out early to insiders - wish I could remember which (senior moment) - I believe it goes out at 9:45 and the insiders get it around 9:40 eastern

Thu, 06/13/2013 - 00:10 | 3653049 spine001
spine001's picture

Are you telling me that the H.A.R.P. Project is real? Auch...

Wed, 06/12/2013 - 19:29 | 3652002 SilverDosed
SilverDosed's picture

i dont get all the Santelli fluff the last few days, he works for "them." I dont trust him, but then again I'm a paranoid asshole who thinks the Paul's are controlled opposition too.

Wed, 06/12/2013 - 19:42 | 3652030 knukles
knukles's picture

What matters is that he has a conscience

Wed, 06/12/2013 - 19:57 | 3652094 SilverDosed
SilverDosed's picture

If he had a conscience he wouldn't be working for cnbs and therefor giving his approval to the propaganda they pump out and call news. He is an actor, he is paid for what he says. You cant draw many conclusions about an actual person based on the roles they play as an actor, you can however draw conclusions about a person based on who pays their salary.

Wed, 06/12/2013 - 20:11 | 3652133 thismarketisrigged
thismarketisrigged's picture

o please, actor my ass.

 

if he was an actor, the guy should quit and go to hollywood, because he would make many many millions, because then he is one of the better actors i have seen.

 

go watch youtube videos of him from years and years ago, the guy means what he says. look at his facial expressions, listen to the anger in his voice, that is not acting, that is a man who feels the way he does.

 

watch this video for example, and there are many more. please tell me u think he is acting, because if u do, i dont know what to tell u. the only act he maybe doing is not letting his anger spill over more than he really wants to due to being on cable tv.

 

http://www.youtube.com/watch?v=I-1g0OZJIdk

Wed, 06/12/2013 - 20:16 | 3652166 SilverDosed
SilverDosed's picture

Good job shilling for him like you did on the last Santelli post. Surprised you didnt just copy/paste your previous posts.

http://www.zerohedge.com/news/2013-06-11/santelli-how-feds-taper-david-b...

So we're not supposed to show our distrust of a cnbs talking head on this site anymore? GFYS shill.

 

Wed, 06/12/2013 - 20:37 | 3652229 thismarketisrigged
thismarketisrigged's picture

u can show ur distrust all u like. but its clear he is not acting.

 

u can believe what u want though.

 

just think about how fucking stupid ur theory is.

 

u actually believe that he is given a skit daily and acts it out. u do realize that he reacts to things in the moment, something that he obviously is not acting out.

 

if u saw/ hear the man speak, maybe ull learn something. he knows what he is talking about.

 

maybe he is  zerohedge reader, but he clearly is not like all the other fools on cnbc

Wed, 06/12/2013 - 21:10 | 3652347 SilverDosed
SilverDosed's picture

My theory about not trusting cnbs talking heads is fucking stupid? Lolololol

Thanks for telling me what I "actually believe."

 

Wed, 06/12/2013 - 21:14 | 3652371 thismarketisrigged
thismarketisrigged's picture

ur theory about how santelli is just an actor on cnbc is fucking stupid, yes.

 

if u watch santelli speak and believe he is doing it as an act, then at least admit he is 1 great actor.

 

anyone with any common sense knows that santelli is not fucking acting. just look how angry he gets at these fools, u cant act that out. if u could, as i said time and time again, he would easily be working in hollywood as an actor making tens of millions, because he would be a great one.

 

 

Wed, 06/12/2013 - 21:19 | 3652396 SilverDosed
SilverDosed's picture

Cramer's real good at yelling and acting angry too, should he be making the millions in hollywood too? Please, he is a paid television personality, whether or not you define a paid television personality as an actor is up to you I guess. I bet you think strippers like you too.

Wed, 06/12/2013 - 21:42 | 3652480 thismarketisrigged
thismarketisrigged's picture

o please. cramer is not even close to santelli.

 

cramer is always flip flopping.

 

1 day the economy is great, china has avoided a hard landing, europe is bottoming, etc, only to be followed by the next day cramer saying the exact opposite.

 

cramer also rarely melts down on tv. he has that 1 classic moment talking about the fed, but other than that, he is who he is.

 

just go on youtube whenever u have a chance and watch videos of santelli. if that is his acting face, he is the greatest actor i have ever seen. he has expressions and outbursts that one can not act unless they truly feel that way.

 

and yes of course i think strippers like me, lol

Wed, 06/12/2013 - 22:02 | 3652555 Pareto
Pareto's picture

No, you go fuck yourself ass clown!  prior to 04 about the only thing you heard out of Santelli was the bond report.  It wasn't until Greenspan and Bernanke started going batshit crazy did you hear from him.  And I'm fucking glad were hearing from him, because at least somebody in the media has the guts to call out any of these fuckers!  Fact is, Santelli says what everyone else is thinking and what needs to be said, and he's the only fucking guy who doesn't give a shit which way it reads in the fuycking papers, which by definition asshole, is not a shill.  Smarten the fuck up.  I'll take Santelli's rant over your kid like acusations on a topic you seem to know little about - free market capitalism fucker.  fuck i hate people like you.

Wed, 06/12/2013 - 21:49 | 3652509 Pareto
Wed, 06/12/2013 - 21:52 | 3652519 Pareto
Pareto's picture

and this one.  fucking A this one: http://www.youtube.com/watch?v=RygWFh39CvE

 

 

Wed, 06/12/2013 - 22:12 | 3652590 thismarketisrigged
thismarketisrigged's picture

all these videos are awesome, but this is my favorite one

 

http://www.youtube.com/watch?NR=1&v=I-1g0OZJIdk&feature=endscreen

Wed, 06/12/2013 - 21:04 | 3652327 TheReplacement
TheReplacement's picture

I give him lots of credit.  He's working in the enemy's camp and slipping out as much information as possible without losing his job.  

Wed, 06/12/2013 - 21:42 | 3652477 A is A
A is A's picture

Exactly!!!

Wed, 06/12/2013 - 22:15 | 3652615 San Diego Gold Bug
San Diego Gold Bug's picture

SilverDosed,

Do us all a favor and cross the street without looking tomorrow !  The game continues to be rigged !!!

Wed, 06/12/2013 - 19:47 | 3652048 Lets Buy The Dip
Lets Buy The Dip's picture

Its simple.

Santelli know what is hapening, he knows the TRUTH!

Cramer is paid to lick the testicles of his ex-collegues and pump em' up to make em' look good, and to make em more money with his effing Shitty tips!, and when i say SHITTY they are very very shitty. 

he said to go long the S&P a few days ago, and THE DOW JONES TRANSPORTS CHART HERE  looks god damn horrible. 

Every good trader knows if you see the transports dip like this, it means we are about to sell off hard on the market. 

Everyone else knows that if you FADE cramer on the market, you do very very very VERY well. The man needs to go to rehab, and stop abusing alcohol. haha. 

 

Wed, 06/12/2013 - 19:49 | 3652060 otto skorzeny
otto skorzeny's picture

He bears the mark of the SQUID.

Wed, 06/12/2013 - 20:08 | 3652134 knukles
knukles's picture

Hear tell they changed the address from 220 West to 666 West Street

Wed, 06/12/2013 - 22:43 | 3652762 Buck Johnson
Buck Johnson's picture

Peole are finding out that the game is rigged as long as you are willing to pay for the information.  Don't worry, we won't have a market for to long it will implode in the very near future.

Wed, 06/12/2013 - 22:43 | 3652763 Buck Johnson
Buck Johnson's picture

Peole are finding out that the game is rigged as long as you are willing to pay for the information.  Don't worry, we won't have a market for to long it will implode in the very near future.

Wed, 06/12/2013 - 19:19 | 3651955 jcaz
jcaz's picture

Cramer clueless?  Shocker..... Dunno why his hedge fund shuttered overnight.....  Tool......

Wed, 06/12/2013 - 19:17 | 3651960 viator
viator's picture

Geeze, we live in a corrupt oligarchy. Who would have thunk it?

Wed, 06/12/2013 - 19:17 | 3651964 88888
88888's picture

I think she is hot, especially for a financial reporter

Wed, 06/12/2013 - 19:41 | 3652028 Temporalist
Temporalist's picture

Just because Bernstein has no balls doesn't mean he's a chick.

Wed, 06/12/2013 - 19:50 | 3652066 otto skorzeny
otto skorzeny's picture

Other than sue herrara has there ever been any pigs on the financial channels?

Wed, 06/12/2013 - 20:45 | 3652267 TimmyM
TimmyM's picture

I remember her first day on FNN. Suzy McMahon was pretty cute back then. Maybe you just don't have much tolerance for motherhood.

Wed, 06/12/2013 - 19:19 | 3651968 thismarketisrigged
thismarketisrigged's picture

is it weird that i have a man crush on santelli? 

Wed, 06/12/2013 - 19:42 | 3652034 knukles
knukles's picture

Yes

Wed, 06/12/2013 - 19:46 | 3652047 Westcoastliberal
Westcoastliberal's picture

Sounds like you might be Gay on the down-low.

Wed, 06/12/2013 - 19:53 | 3652076 thismarketisrigged
thismarketisrigged's picture

maybe its because compared to everyone else on that station,  he is so fucking logical and a refreshing sound of reason on that station, hence the man crush on him, in terms of the market.

Wed, 06/12/2013 - 20:04 | 3652121 knukles
knukles's picture

Yeah, but it still sound sorta gay and different than saying he's of character, qualified or appreciated.
Not that I give a rats ass, but it is funny... 

Next thing is he'll be saying he has a man crush on Maria Blowaroma and that will be seriously disturbing.  Accurate, but disturbing.....

Wed, 06/12/2013 - 21:15 | 3652375 SilverDosed
SilverDosed's picture

Still shilling I see. Rick is that you?

Wed, 06/12/2013 - 19:23 | 3651980 The Shootist
The Shootist's picture

I wish these cnbs vids were compatable with Apple's non-java products

Wed, 06/12/2013 - 19:30 | 3652003 maskone909
maskone909's picture

Yeah fucking bullshit

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