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Epic Santelli Rant On 'Un-American' Federal Reserve/Treasury Incompetence

Tyler Durden's picture




 

Stunned at the sheer ineptness and lack of due diligence in the Libor-rigging details that are being uncovered specific to Geithner's Treasury and Bernanke's Fed, CNBC's Rick Santelli reflects on just how unbelievable TARP was in this context. "Hurry up, let's spend three quarters of a trillion dollars; how much due diligence did they do for our role as taxpayers in basically bailing out the banking system? Obviously zero!" and this as they knew these very-same banks were manipulating rates. Opining on the un-Americanism of jet-skis and outsourcing, Rick states unequivocally "what's un-American is we now have the Federal Reserve Bank of New York and Treasury taking heightened importance in regulating us in the future through Dodd/Frank. Shame on their legislation!" Meanwhile, those very same un-American Treasury staff (who we are supposed to trust with the future of our banking system and implicitly the economy we pre-suppose) have just been caught soliciting prostitutes and breaking conflict-of-interest rules.

Under 3 minutes to open your eyes...

 

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Mon, 07/16/2012 - 12:48 | 2620639 fightthepower
fightthepower's picture

Fuck You Bernanke!

Mon, 07/16/2012 - 12:50 | 2620654 NotApplicable
NotApplicable's picture

In other news, Barton Biggs is no longer.

http://apnews.myway.com//article/20120716/DA021EJ82.html

Mon, 07/16/2012 - 13:02 | 2620715 Precious
Precious's picture

This is only a suprise to those who hold some antiquated notion that there is still a rule of law.  Get over it.  The criminals are running the prison.

Mon, 07/16/2012 - 13:21 | 2620815 Dr. Richard Head
Dr. Richard Head's picture

Sorry to beat a dead horse, but the law only applies to us plebes.  I was threatened for arrest for suggesting that I not give me phone number during a window tinting violation just this past Friday - http://www.youtube.com/user/ShakedownR3volution?feature=mhee

Meanwhile, our Dear Leaders fuck hookers, launder drug money, traffic in drugs and gun, fix the price of money, steals by the hundreds of billions, commit fraud daily and then cover up their lawlessness with more laws that protect them.  Welcome to the gulag bitchez.

Mon, 07/16/2012 - 13:24 | 2620825 Nothing To See Here
Nothing To See Here's picture

That must have felt good for a minute or two!

Mon, 07/16/2012 - 13:43 | 2620891 MachoMan
MachoMan's picture

kind of expensive to tell a cop off considering you can do it for free... 

Some of us have a different approach...  if we ever get a citation for anything (other than a citation that won't go on our driving record, in which case the cop won't likely have a record of it, depending on how long it's been since the citation), then we go to court and contest it.  The process is free...  but for our time.  Typically, our citations are reduced so that they don't go on our record.

Why is this important?  Well, because after you get your first citation, YOU WILL LIKELY CONTINUE TO GET THEM.  On the other hand, when you have a clean record, you're much more likely to get a warning.

Also, a contributing factor in whether or not you get a ticket is how polite you are to mr piggy.  In this case, if you're a douchenozel, you get a ticket.  The issue was conceded at the start.  Fuck you oinker, give me my ticket...  No, you have to work a little harder...  use a little more ingenuity...  appeal to that human heart and mind that's been suppressed through years of blue endoctrination (and probably some high school bullying or being bullied).  If he already thinks you suck (based upon your record), then you're just going to get your ass prodded by the night stick when you bitch at him.  He's just another asshole that doesn't give a shit about contributing to the system's delinquency...  like the rest of us with jobs and who pay taxes.  With monetary prolifigacy, we are all forced to be the state.

In short, my suggestion is to catch more flies with honey.

Mon, 07/16/2012 - 13:46 | 2620903 Dr. Richard Head
Dr. Richard Head's picture

I agree, but some sort of saying about dieing on my knees.....Besides, I stopped bringing the battle to them, yet they always bring it right back into my court.  Douchenozel I was indeed ,but fuck em. 

The point is that laws are for the commoners and the elite use the law for their benefit.

Mon, 07/16/2012 - 20:44 | 2622424 Simon Endean
Simon Endean's picture

@Dr. Head: "The point is that laws are for the commoners and the elite use the law for their benefit."

Laws are like spider webs - they ensnare the weak, but they merely inconvenience the powerful.

Mon, 07/16/2012 - 16:09 | 2621482 Michael
Michael's picture

Six and one half dozen of the other.

I recently got a speeding ticket going home from work in my hometown, I reacted with outrage and gave the wolf pack an earful, especially since I was driving near perfection. Out of town I recommend just keeping your mouth shut as per your lawyer Alan Shapiro, and do not consent to a search of your vehicle.

Let your local cops know you as a homeowner, help pay their salary with your property taxes and expect not to be harassed by them, and will fight this ticket in court.

I won. My driving record is still squeaky clean and would have taken the ticket to higher court if I lost in lower court.

I beat 95% of dozens of traffic ticket in my 35 years of driving. It's worth taking everything to court. Everyone getting a ticket should fight it and clog the courts.

Mon, 07/16/2012 - 16:17 | 2621525 Dr. Richard Head
Dr. Richard Head's picture

Any particular defense utilized?  I can never get passed the hearing stage.

Mon, 07/16/2012 - 17:18 | 2621798 MachoMan
MachoMan's picture

Here, if the cop doesn't show up, they'll just reschedule it lol... (which is the #1 way to win in traffic court).

My suggestion is to simply have a hearing, just to clog shit up, but then be ready and prepared to appeal.  Generally speaking (your particular locale may be different), district/traffic/municipal courts have very limited jurisdiction and, as a matter of law, you have a right to a de novo appeal to a higher court (typically one of general jurisdiction).  Also, the politics associated with the higher court are many times different, e.g. the prosecutor is not likely in his own back yard any more...  and the judge is much more likely to grant a fair trial.

Often, it's going to be your word against the cop's and those motherfuckers will lie until blue in the face.  They'll also keep their foot in the gas pedal and regardless of how stupid it makes them look, they'll keep saying the same shit.  If you get a good attorney or have a decent skill yourself, you can probably have a lot more leeway in upper court to ask them questions...  trip them up...

At the end of the day though, you've got an uphill battle on a tint ticket...  strict liability is strict liability...  make it abundantly clear to the prosecutor that you're willing to waste everyone's time and maybe he'll cut you a deal... 

Mon, 07/16/2012 - 18:25 | 2622032 Grinder74
Grinder74's picture

My father has gotten pretty adept at beating or reducing speeding tickets since it greatly affects his CDL.  His most successful ploy has been to question the cop about the margin of error on the accuracy of the radar gun (which tends to be 2-3 mph).  When this is introduced, it's enough reasonable doubt to get the ticket reduced from 65-over (CDL suspension) to under-65 (regular ticket) if not dismissed.

Mon, 07/16/2012 - 23:31 | 2623041 Dr. Richard Head
Dr. Richard Head's picture

The defense moves to dismiss charge number 1 based on the fact that no radar tint reading was taken to establish jurisdictions of the primary offense. Secondary offense is the also to be dismissed upon primary offense being dismissed.

Mon, 07/16/2012 - 16:25 | 2621584 DavidC
DavidC's picture

Michael,
Hmm, if you've had 'dozens of traffic tickets' in your 35 years of driving, I'd suggest that although your driving record is squeaky clean, your driving isn't.

DavidC

Mon, 07/16/2012 - 16:12 | 2621497 HedgeOn
HedgeOn's picture

wow- is it possible that the macho man has such eloquent advice?  over 27 years of driving, I have received no less than 15 speeding tickets and with the advent of speed/red light cameras, I have received another 7 to 10 tickets.  i have always gone to court and have never received a signle point.  my auto insurance is cheap-cheap.  i know it sounds like i'm burning up the road but I have never caused an accident and have only been rear-ended by an inexperienced kid, a drunk, and a guy ogling some girl on a nearby sidewalk. i think honey is the way to placate a guy who is probably not too different from you and looking for a modicum of respect.  

Mon, 07/16/2012 - 16:47 | 2621671 Dr. Richard Head
Dr. Richard Head's picture

I cannot bring myself to loving my captors any longer.  Maybe they will be nice and not tazer me.  While we are no where nea the Nazi state, the fact is the Jews probably thought "if they just got along.",,,,,

Mon, 07/16/2012 - 17:24 | 2621809 MachoMan
MachoMan's picture

I'd also suggest getting a concealed carry permit if available in your state.  Even if you don't plan on carrying a gun, whenever you get pulled over, tell the officer that you are a licensed holder, show him your card, and that you don't have any concealed weapons in the vehicle (only if you don't...  but if you do have a gun, let him know immediately)...  this lets the cop know a few things about you: (a) you passed a background check; and (b) you're not a whiney victim that sits on his hands...  and that you're willing to duke it out with the same folks he has to every day.  This goes a long way to not getting a ticket...  and it's probably something you should have anyway.  Pack and pack often.

Mon, 07/16/2012 - 23:36 | 2623056 Dr. Richard Head
Dr. Richard Head's picture

I get that line of reasoning, but CC's are a list first related to the peace officers during any identifiable interaction. The less identifiable I am the better off I am.

Mon, 07/16/2012 - 14:09 | 2621000 Mugatu
Mugatu's picture

Just ask yourself:

If you are the Fed why would interest rate rigging seem illegal?  After all, the Fed has been manipulating rates for years.  

 

We obviously are getting close to another washout moment in America like 2008.  It always happens when the common man realizes that corruption and graft have become institutional.

Mon, 07/16/2012 - 16:06 | 2621423 Zero Govt
Zero Govt's picture

there's no "Rule of Law" ???

yes there is, you're ruled by Laws, never more in history in fact

so the elite (who generate and press its buttons) get off ...how thick do you have to be think the Rule of Law was designed to be anything else but the elites weapon???

Wake up, stop dreaming and believing all the liberal window dressing of what Govt is 'supposedly' about. It is nothing but a playground for gangster parasites as it was designed to be from the get-go, and has proved throughout history

say 'Hi' to reality, not empty propaganda for sheeple to swallow

Mon, 07/16/2012 - 16:01 | 2621422 vast-dom
vast-dom's picture

Thank you Rick. I just wish you took it a few steps further and really checkmated Bernankzi for all that he's done of late. We don't have markets or interest rates any longer. We have a special interest post-ponzi anti-free market. This great purge can't come soon enough, yet all perpetrators will still make out with billions.

Mon, 07/16/2012 - 13:09 | 2620750 Taterboy
Taterboy's picture

Today Maria Bartiromo will say:"Barton Biggs will NOT be coming off the lows of the day."

Mon, 07/16/2012 - 13:36 | 2620830 Max Fischer
Max Fischer's picture

I truly don't understand why the comments section of ZH worships Santelli which such enthusiasm, while also claiming that the CME is a rigged market which prevents their precious silver from finding true price discovery. Remember those margin hikes, and how your head instantaneously caught fire? And now look at you fools.... worshipping its most famous spokesperson. LOL

Santelli has spent his life at the CME, and you guys willingly ignore this because he feeds you the libertarian catnip that makes your eyes swirl. @_@

Anyone remember his infamous rant about oil speculation in June 2008? Of course, he defended his speculator buddies and claimed that if oil was being jacked higher by speculators rather than by true fundamentals, it would face a "mammoth dive." Sure enough, it began its "mammoth dive" a few days later, collapsing 80% over the next several months. That's Santelli unwittingly admitting that the "super spike" in oil was speculator driven. The $300B increase in speculative money flowing through the commodity complex from 2003 - 2008 proved it.

CME - Where life's necessities and American labor are turned into casino chips.

Mon, 07/16/2012 - 14:03 | 2620982 sickofthepunx
sickofthepunx's picture

those who can, do.

those who can't, report and bitch about people who do

 

Mon, 07/16/2012 - 14:22 | 2621059 Carl Spackler
Carl Spackler's picture

I'm sorry you don't understand the comments, President Obama. I realize you grew up on Socialist and Anarchist doctrine. First, from your father and then from that crazy Ayers clan, but I'd like you to consider the differences in the American form of barter, which is far more natural manner of human behavior than you have been lead to believe.

By the way, that Rick Santelli fellow never worked for the CME, he went to that gathering place to transact business with others looking to transact business.  The CME, really, is just a meeting place to facilitate deals, but unlike in Washington, lots of deals are done there every day.  And, these deals are based on free will. That's right, a gun doesn't have to be held to someone's head to get people to do something.  People actually want to get things done there... every day!  I know you wish it were that way in Washington.

Moreover, the CME is just a fixed location where producers of goods meet to barter with those who use the produced goods within their business models, all the while generating valuable tax dollars for the federal government and paying for your Obamacare [fiasco].  Sometimes, however, third parties get involved there, provideinga separate sales channel to producers by adding their liquidity to the interchange process.  But those third parties also take enormous risk and can lose everything they bring to the fixed location.

By the way, American labor is NOT involved in this process, but the paychecks of American labor keep coming because there is a liquid market and someone to buy what is being produced.  You might want to remind the farm workers and steel workers unions of that, because it ensures THEY get paid too.  Pretty cool, huh?  Otherwise, they would never collect any workers' dues, as the produced goods would rot or depreciate, and the producers would not realize anything for their goods.

Maybe Professor Summers can give you a quick tutorial.  Oh wait, he may have gone back to his cozy, Ivory Tower.

Mon, 07/16/2012 - 14:23 | 2621069 El Oregonian
El Oregonian's picture

MaxFister, sounds like your good when someone else's ox is getting gored but, you really don't like it when it's yours having to take it.

We're in rigged markets, you play in them at your own risk. Santelli knows there rigged and says it. Those other bobble-heads on CNBC are paid shills.

Mon, 07/16/2012 - 14:54 | 2621076 roadhazard
roadhazard's picture

So you all believe that Santelli has not known about Libor tinkering since 08'. When is he going to get "in front" and give us the low down ahead of time. When will it get so disgusting for him in that business that he quits. I will believe his sincerity then.

Mon, 07/16/2012 - 14:30 | 2621093 Bob Sacamano
Bob Sacamano's picture

Waiting for the Congressional investigation for those speculators now shorting oil driving prices lower over the past few weeks.    They will never investigate falling commodity prices. 

Speculators play both sides of the market  -- politicians apparently think speculators are long only. 

Mon, 07/16/2012 - 14:36 | 2621113 roadhazard
roadhazard's picture

Oil is not down. Yes, down to pick pocket from rape maybe.

Mon, 07/16/2012 - 16:02 | 2621433 vast-dom
vast-dom's picture

inane character moniker from facile movie go to the Wes Anderson boards and enjoy the sub-par flick talk. 

Mon, 07/16/2012 - 14:41 | 2621123 banksterhater
banksterhater's picture

I WON'T SHED A  TEAR for Biggs.

Mon, 07/16/2012 - 13:00 | 2620682 Widowmaker
Widowmaker's picture

GEITHNER, SUMMERS, BERNANKE, HA!

FUCK OBAMA!

He's the sad excuse in the oval office that recruited the entire fucking Bush-cabal to oversee the extinction of justice and depravity of the 99%.

"I didn't run for office for a bunch of fat cat bankers."

BULLSHIT! That is exactly what the fuck happened.

FUCK OBAMA - DOWN IN '12!

Mon, 07/16/2012 - 13:03 | 2620722 Precious
Precious's picture

These people operate in circles that not only exclude the 99%, they actually despise the 99%.

Mon, 07/16/2012 - 13:15 | 2620784 poor fella
poor fella's picture

This election shouldn't even be legitimized with a vote. Maybe vote for everything but POTUS.

How would that look if the winner gets the majority of a 20% turnout?  10%?

Is anything going to change either way? Citizens United took care of that...

Mon, 07/16/2012 - 16:35 | 2621623 Umh
Umh's picture

It will look like they won. They will have won. To not vote may seem like a bold move to some, but it's just apathy.

Mon, 07/16/2012 - 20:26 | 2622354 poor fella
poor fella's picture

It may be worth trying. Protest through apathy - perfect! Show your displeasure by sitting on the couch and doing nothing. The MSM and government look at election participation in Egypt. So why not experience the complete embarrassment of a poor election in America Inc.?

THE best time to say the Emperor has no clothes is with an Obamney election.

disclosure - Will probably see who's running on the P&F or Green ticket.

Mon, 07/16/2012 - 13:18 | 2620792 brewing
brewing's picture

Vote Gary Johnson!!!

Mon, 07/16/2012 - 13:19 | 2620803 eclectic syncretist
eclectic syncretist's picture

Vote Ron Paul!

Mon, 07/16/2012 - 13:37 | 2620871 poor fella
poor fella's picture

Vote to bring down debt!

 Vote Charles 'two-buck' Shaw!  

Mon, 07/16/2012 - 14:22 | 2621061 Freewheelin Franklin
Freewheelin Franklin's picture

Vote for "THE RENT IS TOO DAMN HIGH!".

 

(and so am I)

Mon, 07/16/2012 - 20:51 | 2622444 mt paul
mt paul's picture

vote for my dog

he doesn't poop

on the sidewalk...

 

the nearest sidewalk 

is 18 miles away..

Mon, 07/16/2012 - 14:27 | 2621081 andia
andia's picture

Obama or Romney - they are two hats on the same face. Nothing will change until strong third party emerges and kill the status quo. I really do not undersand people get involved in discussions: Obama or Romney. They both represent the same evil, how long will it take for average American to understand that? Ron Paul was a hope but existing voting system will always purge innovation or any attempt to destroy the old bad.

Mon, 07/16/2012 - 14:51 | 2621172 brewing
brewing's picture

voting for the lesser of two evils, is still evil...

Mon, 07/16/2012 - 17:02 | 2621731 Oldwood
Oldwood's picture

You may also think all women are whores but does that mean you would continue to live with one who has blatantly cheated on you rather than kick the cheating bitch out and give another a chance? Or would you rather sit at home playing with yourself? We, as a country, don't have that option. Obama can not win the whitehouse again. He makes an absolute mockery of America and re-election effectively blesses everything he has done. If they are going to lie and cheat we still have the power to exercise some principles and kick them out, even if we think the next one may be no better. It is comical that it is those who voted for him that have been lied to yet they seem willing to stand in line for it again. The conservatives have never had any doubt about who and what he is and what he would do. I suppose if you believe we need to burn down the house to fix things, Obama may well be your man, but i can find very few cases where bringing the economy to its knees ever resulted in anything good. We all know this is deliberate and usefull to transforming us into THE NEW WORLD ORDER.

Mon, 07/16/2012 - 14:27 | 2621084 roadhazard
roadhazard's picture

And fuck BushCO for giving him the opportunity with a bow on it.

Mon, 07/16/2012 - 14:37 | 2621100 myshadow
myshadow's picture

God you are an idiot.  All this fuck obama...you do realize this rigging was before he announced he was running for president.

 

I have my problems with the President and I voted for him... the alternative is a person who would be comfortable with rate rigging and someone who hides money anywhere in the world he can....

Fuck him, bernanke, summers and geithner.....and every bankster that is looting this country.

Yes, romney legally can avoid tax but he is taxed 12% on millions, the rest of us pay 25%+ on thousands.

If he is elected the grousing on these pages about obama will look like love letters after romney and the plutocrats stick their spikey syphlitic dicks into the treasury.

Get a grip.

Mon, 07/16/2012 - 14:55 | 2621184 brewing
brewing's picture

i will never, in my lifetime, vote for a democrat or republican ever again.  i trash each party with equal enthusiasm.  the founding fathers feared that "parties" would tear the "republic" apart. how prophetic they were...

Mon, 07/16/2012 - 17:29 | 2621825 Chris88
Chris88's picture

First of all, congratulations on voting for a moron.  Second, the problem isn't what Romney is taxed, the problem is people being taxed at all.  The government truly is a parastic organization.  People for some reason like to believe taking water from the deep end of the pool and dumping it in the shallow end of the pool will increase the amount of water in the pool; stimulus applied practically.  

Mon, 07/16/2012 - 12:49 | 2620647 RacerX
RacerX's picture

Meh. In 2008 TARP was: "Give us the money or the bunny gets it". Politicians too stupid and/or complicit to know they were getting tooled.

SSDD.

Mon, 07/16/2012 - 13:07 | 2620743 NotApplicable
NotApplicable's picture

You mean WE were getting tooled. They, on the other hand, well... they ARE the tools.

Mon, 07/16/2012 - 13:49 | 2620915 RacerX
RacerX's picture

Yes, good point. It is US that will be left holding the bag.

Mon, 07/16/2012 - 13:23 | 2620821 101 years and c...
101 years and counting's picture

They were all short the market prior to crashing stocks during the 1st TARP vote and then all went long just prior to approving TARP on the 2nd vote.  They literally profited 10% with each trade.  Now thats justice!!

Mon, 07/16/2012 - 13:48 | 2620912 MachoMan
MachoMan's picture

I don't think that's fair...  if the american sheeple were overwhelmingly against passage of TARP, then the politicians have no excuse...  ignorance cannot be pled...  nor can some complicit ignorance (whatever the fuck that is).

When was the last time the country was in agreement (definitively, across virtually all bases) on anything?  When you see agreements between people who have been conditioned to do nothing but in-fighting for decades (centuries), then it's time to take notice... 

I disagree with your premise.

Mon, 07/16/2012 - 16:26 | 2621585 Diogenes
Diogenes's picture

"When was the last time the country was in agreement (definitively, across virtually all bases) on anything? "

Between Pearl Harbor and VJ Day. Back then, they knew how to sell a war.

Mon, 07/16/2012 - 14:30 | 2621090 andia
andia's picture

They are not stupid. They know how to prolong and protect their existence and fill their pockets for dangerous times which surely are coming.

Mon, 07/16/2012 - 12:49 | 2620649 Badabing
Badabing's picture

go RICK!

Mon, 07/16/2012 - 12:49 | 2620651 Oppressed In Ca...
Oppressed In California's picture

Santelli for prez......

Mon, 07/16/2012 - 12:58 | 2620696 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

SEC Chairman....

Jim Grant as UST Secretary....

and abolish the Fed.

That debt ain't ours, it was stamped by a Congress of liars and we should tell the bond holders they are taking a haircut.

Issue new bonds, and say that any difference in debt owed will be paid on a gold/silver standard.

Done.

Mon, 07/16/2012 - 12:59 | 2620704 cossack55
cossack55's picture

William K. Black,,,,,SEC?.....CFTC.....DOJ....ALL 3!!

Mon, 07/16/2012 - 13:19 | 2620802 merizobeach
merizobeach's picture

I like Jim Rickards as Treasury Secretary, and we're lucky now 'cause we're still allowed to dream.

Mon, 07/16/2012 - 13:09 | 2620749 paint it red ca...
paint it red call it hell's picture

Noooo, Santelli for Attorney General!

Mon, 07/16/2012 - 12:51 | 2620656 FieldingMellish
FieldingMellish's picture

God I love this man! Stick it to 'em Ricky my boy...

Mon, 07/16/2012 - 12:51 | 2620661 ghengis86
ghengis86's picture

If fucking hookers was all they did we would be much better off. Alas, they're busy fucking us all.

Mon, 07/16/2012 - 12:54 | 2620675 brewing
brewing's picture

exactly.  republicans and democrats have the greatest sex lives,  they fuck all of us every day...

Mon, 07/16/2012 - 13:21 | 2620813 i-dog
i-dog's picture

What we need is a bunch of Sexual Directors running government agencies: When we want their fucking advice, we'll ask for it!

Mon, 07/16/2012 - 13:50 | 2620920 jumbo maverick
jumbo maverick's picture

Ah yes think of it. Instead of sessions in congress and 2 martini working lunches we will have all of the sexual deviants meeting in the men's room. Your senator, while sitting on the pot, can send you messages via toe tap underneath the stall wall. If you get offended he will say "I was just giving signals that I was out of TP" but what he really wanted was to give you a BJ.
If there was a giant flush lever for the entire beltway I would press it and we could all get on with living.

Mon, 07/16/2012 - 13:00 | 2620705 azzhatter
azzhatter's picture

at least the hookers got paid, I'm still waiting and Ben's dick is squarely up my ass everyday

Mon, 07/16/2012 - 13:15 | 2620785 Shizzmoney
Shizzmoney's picture

Now, when the US Treasury uses state funds to buy hookers, does that count towards the BLS' labor employment number?

Cut down wages via deflation, which affects the hourly prices of pussy which also deflate, and then reap the rewards using taxpayer money.

That's pretty brilliant. 

Mon, 07/16/2012 - 13:38 | 2620873 Babushka
Babushka's picture

Pussys never deflate only expand and some times hyperinflate!

Mon, 07/16/2012 - 12:52 | 2620667 Widowmaker
Widowmaker's picture

Where is Kaptain TARP himself, Bruce Krasting, to tell us how TARP saved the world and how in debt the regular guy is to the faggots in pinstripes because of it!?!

C'mon Bruce, where are you??

KRA-STING! KRA-STING! KRA-STING!

You don't have to hide, your entire banking-barrel is spoiled fucking rotten!

Mon, 07/16/2012 - 12:55 | 2620670 cbxer55
cbxer55's picture

I would love to see Laura Lyster of Capital Account, do an interview with Rick. You can always rely on him for a good rant, and an interview like that would bring out the best in him.

Come on RT, do it.

Mon, 07/16/2012 - 13:02 | 2620716 Richard Head
Richard Head's picture

Lauren.

Mon, 07/16/2012 - 14:33 | 2621097 roadhazard
roadhazard's picture

I love when she talks dirty money to me.

Mon, 07/16/2012 - 17:48 | 2621900 cbxer55
cbxer55's picture

Yeah, I know. I posted it and went elsewhere, realized I goofed up, but cannot edit it once it has been replied to. Stupid mistake, especially considering I am a subscriber to Capital Account on You Tube, and watch it every day.  ;-(

 

OOPS! Sorry Lauren.

Mon, 07/16/2012 - 13:26 | 2620818 Shizzmoney
Shizzmoney's picture

He probably would....but can't, not if he wants to keep his weekly CNBC retainer.

Regulars on Bloomberg, CNBC, etc....when they sign a contract, basically sign a "right of disclosure" deal that says they need a station's blessing before going on "non-entity" or "competitor" programming.  Questions asked, content of program, host....all have to be knwon to CNBC befoe you can go on and talk.

For example: in 3 different films, David Graeber's "History of Debt", Danny Schecter's "In Debt We Trust", and Charles Ferguson's "Inside Job", all requested Maria Bartiromo to appear and answer a few questions on the media's impact on markets.  The questions weren't even going to be critical of HER, they just wanted to ask question on how stock information gets out there, the station's role, and how she has seen the role of information change impact markets in the 15 or some odd years she has worked there.

Like any other media moth, she accepted these interviews (and is often the case for these media types, sometimes they get paid, and they can plug their shit).  David Graeber was even going to let her plug her book in exchange for an interview.

Of course, after CNBC (i.e., the corporations that run CNBS) got wind of this, she cancelled each of the appearances. 

Free country, my ass.  When your media is as riskaverse and centrally planned as your economy......well then.....that is when you are on the path of this thing called, "State Corportism" (otherwise known as Collective Fascism).

Mon, 07/16/2012 - 13:53 | 2620934 Babushka
Babushka's picture

In order to support your view I woud suggest everybody to watch the movie "Iron Sky"...funny but very sarcastic indeed..

http://www.imdb.com/title/tt1034314/

I bet my pants on this is not very well known movie in USA

Mon, 07/16/2012 - 12:54 | 2620673 yrbmegr
yrbmegr's picture

So, Santelli is saying we shouldn't regulate?  Or is he saying we should regulate, but it shouldn't be the Federal Reserve or Treasury Department doing the regulating?

Mon, 07/16/2012 - 13:48 | 2620911 Assetman
Assetman's picture

It's the latter... although it appears Santelli has issues with both regulation (Dodd-Frank is a 2,500 page mess) AND enforcement.

Problem is... not only has The Fed and Treasury done such a poor job at the enfrocement end... who do you want to replace them?  The SEC?  DOJ?  Are you kidding me????

Where's that reset button?

Mon, 07/16/2012 - 14:35 | 2621106 yrbmegr
yrbmegr's picture

I can see that.  Nobody should trust politicians or bureaucrats.  They must earn their power to regulate us, IMHO.  However, regulation is clearly needed.

Mon, 07/16/2012 - 12:54 | 2620676 larynx
larynx's picture

Was this really on the mainstream media?

Maybe hope is not lost yet.

Mon, 07/16/2012 - 13:32 | 2620855 Temporalist
Temporalist's picture

Oh it's lost alright.  Only 20,000 people watch CNBS and 99% of them are quisiling zombie sycophants that don't want the system that has supported their own lush lifestyle to disappear.  Nobody will  learn anything from this.

Mon, 07/16/2012 - 12:54 | 2620678 Undecided
Mon, 07/16/2012 - 13:05 | 2620727 Cthonic
Cthonic's picture

Yeah, was laundering a bunch and made a real mess of the dryer... pls don't tell señor fuentes.

Mon, 07/16/2012 - 13:04 | 2620728 Jena
Jena's picture

so they should stay out of the kitchen?

Mon, 07/16/2012 - 12:55 | 2620683 FL_Conservative
FL_Conservative's picture

Love a good Santelli rant. Honest speech and fact-based opinion.

Mon, 07/16/2012 - 13:09 | 2620751 risk-reward
risk-reward's picture

Shall we call it a "Sant Rant" ???

Mon, 07/16/2012 - 12:56 | 2620687 Benjamin Glutton
Benjamin Glutton's picture

CNBC and ALL shills who work for them feign outrage every day while offering cover for the real criminals.

 

Santelli always picks the easy target to help deflect from real crimes just like that POS Joe Kernan.

Mon, 07/16/2012 - 13:11 | 2620756 Cognitive Dissonance
Cognitive Dissonance's picture

Joe Kernan has trouble remembering which side of his head he parts his hair on.

It's your left side Joe. No, your other left.

http://www.cnbc.com/id/15838087/

Mon, 07/16/2012 - 13:28 | 2620839 Navigator
Navigator's picture

If CNBC wants to know why it's ratings are in the pits, and falling, they have only to look to the pathetic performance of Kernan, Kramer and MCC.  If they got rid of of those 3, the factual content of their shows would rise tremendously.

Mon, 07/16/2012 - 13:44 | 2620885 otto skorzeny
otto skorzeny's picture

you forgot pretty boy Carlos Queer and Bob "I never met a pile of shit I couldn't spin into gold" Pissanti. MCC has the biggest dong on that channel. I'd keep Maria Blarto but she would have to wear a dog collar and gag ball and be walked on all fours around the floor of the NYSE on a leash

Mon, 07/16/2012 - 13:27 | 2620834 LouisDega
LouisDega's picture

So what are you saying... Rick Sanetlli,  Are you a good cop or a bad cop?

Mon, 07/16/2012 - 13:55 | 2620943 Offthebeach
Offthebeach's picture

The sheeple will be provided synthetic, yet entertaining, rage. No nee

Mon, 07/16/2012 - 12:57 | 2620689 bdc63
bdc63's picture

of course the Federal Reserve and the Treasury were complicit.  For fucks sake, it was probably THEIR idea.

Mon, 07/16/2012 - 12:58 | 2620691 Cognitive Dissonance
Cognitive Dissonance's picture

Rick Santelli - "It's wrong. And they need to do something about it."

Sorry Rick but WE, as in you and I, need to do something about it. "They" will do nothing about it.....other than more of the same....or worse.

Mon, 07/16/2012 - 12:57 | 2620692 Al Huxley
Al Huxley's picture

Good for a show, might fool some people into thinking that it was incompetence or negligence that lead to the TARP bailout and subsequent gifts to the investment banking community.  Of course, the reality is that they did no due diligence because they didn't require any - because there was never any pretense of legitimacy to begin with (other than in the little theatre acts staged by the MSM and political establishment to entertain the masses.)

Mon, 07/16/2012 - 13:06 | 2620731 SheepDog-One
SheepDog-One's picture

Right there was not a bit of incompetence or neglegence at all, just pure 100% central bankster strongarm robbery...'Hand over the checkbook congress, or we put tanks in your streets'.

Mon, 07/16/2012 - 12:58 | 2620693 AnAnonymous
AnAnonymous's picture

US citizen Santelli on what is 'american' and 'un-american' Well, well, well... Maybe time to mail him that all this is only the product of my imagination...

 

US citizenism at work.

Mon, 07/16/2012 - 13:11 | 2620762 Sophist Economicus
Sophist Economicus's picture

China-bot, his address is;

 

Mr. Rick Santelli - US Citizenism

C/O NBC News - US Citizenism News Propaganda outlet
30 Rockefeller Plaza
New York, N.Y. 10112

Mon, 07/16/2012 - 13:14 | 2620774 akak
akak's picture

Apricots!

Mon, 07/16/2012 - 13:57 | 2620953 BeetleBailey
BeetleBailey's picture

FUCK YOU AnAnonymous....actually....GO FUCK YOURSELF....WITH A LIT BLOWTORCH.

Mon, 07/16/2012 - 14:54 | 2621180 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

Maybe time to mail him that all this is only the product of my imagination...

That's the first sensible thing you've said in quite awhile. Of course, if the pattern holds, your next rants will be classics of insanitation.

Mon, 07/16/2012 - 12:58 | 2620698 buzzsaw99
buzzsaw99's picture

Incompetence my ass. They are criminals.

Mon, 07/16/2012 - 13:00 | 2620709 slackrabbit
slackrabbit's picture

Dear god, please let this edifice of crap come crashing down....

Mon, 07/16/2012 - 13:00 | 2620710 irie1029
irie1029's picture

My question is how is the whole libor scandal any different then the Feds rate fixing?  They are all criminals.

Mon, 07/16/2012 - 13:10 | 2620754 Benjamin Glutton
Benjamin Glutton's picture

FED rate----------->policy goals

Libor rate--------->Factual reflection of each banks borrowing costs

 

The Fed rate IS supposed to be manipulated. Libor is supposed to be a rate based only on borrowing costs devoid of interbank collusion.

Mon, 07/16/2012 - 14:03 | 2620981 MachoMan
MachoMan's picture

How does the FED's rate not impact all other rates?  Obviously this doesn't work in perpetuity, nor has the FED been the entire market all along, but I can't really see how any meaningful price discovery nor rate discovery is possible in this environment.  I think this differentiation, in today's environment, is questionable at best.

 

Mon, 07/16/2012 - 14:10 | 2621007 Zero Debt
Zero Debt's picture

What is it called to use one centrally planned rate set behind closed doors to manipulate another rate set over the promise of champagne to distort a third rate you are paying? It is "supposed" to be called status quo.

 

Mon, 07/16/2012 - 13:01 | 2620712 TrustWho
TrustWho's picture

...and we the people do nothing. Patrick Henry is crying at the cowards his revolution raised. "Give me LIBERTY or give me DEATH"

Who cares today...."fuck give me my remote"!

Mon, 07/16/2012 - 13:15 | 2620787 Seasmoke
Seasmoke's picture

Patrick never had all the toys to play with that we have

Mon, 07/16/2012 - 15:55 | 2621393 Dburn
Dburn's picture

+100. That is so correct. Imagine if Patrick Henry only would have had a iPad

"Give me liberty or...oh wow, Lethal Weapon with Mel Gibson on my Netflix subscription"

"What's that Patrick" Yells a concerned neighbor

"Tis alright, I haven't taken my Meds accord to WebHealth"

   * Symptoms
       Uncontrollable desire to scream or write out false illusions of Grandeur

     * Therapy: Talk Therapy has been proven totally useless unless Physician is trying to pump hourly billings. Instead what is more effortless is to prescribe the latest patented version of the anti-depression medication "flavor of the month". Note this can also add to Physician's bottom line if they have their own in-house Pharmacy and charge 10x what the corner pharmacy charges which was rape to begin with"

"Say Samuel, what do you think Physicians are making these days"
"You ok now Patrick. We've been worried? "
"Yes, Just curious...
"Ah yes, well , me cousin is one, and he just bought a frigging Fleet of the finest Warships you can imagine. Stages battles in a Lake he bought up north. They were going to call it Mich...Micha..

"Ai , I get it, thank-you".
" Say, what's this we hear about the British"
"Don't know , but I hear they have a national Health Care plan..."

Mon, 07/16/2012 - 13:02 | 2620718 azzhatter
azzhatter's picture

I hope you all realize we have passed the point where we vote our way out of this. A violent revolution is the only way things change in America, if not get prepared for a daily dose of ass fucking. BTW- you're the bottom

Mon, 07/16/2012 - 13:05 | 2620730 Quinvarius
Quinvarius's picture

Dam.  I greased up the wrong body part.

Mon, 07/16/2012 - 13:42 | 2620888 CCanuck
CCanuck's picture

+1 Me too, ....fuck! Im so confused about who is pitch'n and who is catch'n these days.

 

Mon, 07/16/2012 - 14:49 | 2621163 roadhazard
roadhazard's picture

Amen, I refuse to waste my time giving the US Government any credibility by voting. Everyone should stay home, it can't get any worse without you.

Mon, 07/16/2012 - 13:03 | 2620721 Village Smithy
Village Smithy's picture

I wish I knew whether these Treasury officials are actually guilty of this misconduct or were they (more likely IMO) about to do some whistle blowing?

Mon, 07/16/2012 - 13:07 | 2620739 buzzsaw99
buzzsaw99's picture

Treasury officials = insider traders, tax cheats, whore mongers, boot lickers, grifters, embezzlers, you name it.

Mon, 07/16/2012 - 13:12 | 2620760 Seasmoke
Seasmoke's picture

Congress = Insider traders

There fixed it

Mon, 07/16/2012 - 13:23 | 2620819 poor fella
poor fella's picture

I remember this was somewhat of an underground story during the early 2000s. A computer science student thesis.

So Congress essentially had a decade in the shadows...

If there are any journalists left - what would happen if they 'followed the loopholes'?

Mon, 07/16/2012 - 14:12 | 2621014 Zero Debt
Zero Debt's picture

Those who buy congress = Market makers. It's a deep rabbit hole.

Mon, 07/16/2012 - 13:08 | 2620745 tony bonn
tony bonn's picture

does this mean that the banksters can be labeled as terrorists - without a trial of course - and shot to death in cold blood by obamney who said that the district court ruling against the nda did not apply to him?

Mon, 07/16/2012 - 13:09 | 2620748 greersteven
greersteven's picture


Quote via TruthInSunshine:

 

Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

 

When you won, you divided the profits amongst you, and when you lost, you charged it to the bank.

 

You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin!

 

You are a den of vipers and thieves.

— Andrew Jackson (7th US President, when forcing the closure of the Second Bank of the US in 1836 by revoking its charter) 

Mon, 07/16/2012 - 13:13 | 2620767 Milton Waddams
Milton Waddams's picture

I love the smell of false outrage in the morning; it smells like, it smells like... hypocrisy.

LOL at some chump being paid to stand on the floor of the CME - as a correspondent of a financial comedy network - to rant about the Fed, Treasury, Liebor, and Dodd/Frank.

Mon, 07/16/2012 - 13:59 | 2620961 Offthebeach
Offthebeach's picture

False outrage. It's a niche product like anything else

Mon, 07/16/2012 - 13:17 | 2620789 kevinearick
kevinearick's picture

just keep borrowing short to lend long on downhill negative relative interest rates, and park the losses in pension account "assets" right?

Mon, 07/16/2012 - 14:24 | 2620952 alfred b.
alfred b.'s picture

 

      Sick Rantelli:  it's is life-time association with the CME that I have trouble with!     And with cnbs of course.

    Buy physical gold and silver.

 

Mon, 07/16/2012 - 13:21 | 2620806 Bartanist
Bartanist's picture

So, basically he says they are all in on a conspiracy. Not hard to believe. Greenspan said that he accepted fraud as part of the market dynamic and that "the market" would work it out. Ummm, sure if it is a free market running under the rule of law then it will eventually eliminate the fraud. However, if it is simply a manipulated and well controlled conspiracy then fraud is a systemic and necessary part of how the markets run... and the Maestro would be just another co-conspirator, pointing fingers at himself as a feint to distract. 

Hey Rick! Many assume that CNBS is simply a corrupted mouthpiece for the conspiracy. Didn't ya get the memo? What does that make you?

Mon, 07/16/2012 - 13:28 | 2620845 Quantitative_Ap...
Quantitative_Appeasing's picture

This will not change unless and until one of two things happens -

 

1. The car is driven full speed over the cliff. (E.G. no spending cutbacks, more outright governmental theft) At some point the reserve currency status goes bye bye and we experience the Weimar Event.

 

2. Producers across the US simply put down their tools and refuse to do a damn thing.

 

I'm betting on #1

 

 

Mon, 07/16/2012 - 13:33 | 2620861 disabledvet
disabledvet's picture

"Bailout Nation" is in fact a TOTAL LIE. It is called "INDEBT A NATION" and proceed to steal everything that isn't nailed down. The problem is not the money but ACCOUNTING for it. Libor? Hah! That's peanuts compared to say...no bid Federal contracting provisions. Unless of course the dollar falls out of bed and Syria launches a massive chemical weapons strike...

Mon, 07/16/2012 - 13:44 | 2620895 StockHut
StockHut's picture

Can BlackRock come out with a Corruption ETF already?

Mon, 07/16/2012 - 13:48 | 2620910 otto skorzeny
otto skorzeny's picture

they will- but your money will be run through MF Global or PFGBest

Mon, 07/16/2012 - 13:49 | 2620916 otto skorzeny
otto skorzeny's picture

see my above post about how Maria should be treated. I bet her cooch smells like red gravy

Mon, 07/16/2012 - 13:50 | 2620918 world_debt_slave
world_debt_slave's picture

ahhh, I was hoping to hear Santelli mention Zero Hedge.

Mon, 07/16/2012 - 13:52 | 2620927 Meesohaawnee
Meesohaawnee's picture

the only remote hint of fresh air on bubblevision. funny.. shocked.. of libor rigging. So.. rigging equity markets now. whats the diff? Everything is rigged. Bubble vision will never ever get viewers back as long as i see them put BOE- VE and timma on. Never People sick of being conned.

Mon, 07/16/2012 - 13:58 | 2620957 jayman21
jayman21's picture

What is TPTB up to?  Have they lost control of the narrative?  We are starting to see CNBC report limited news.  WTF

Mon, 07/16/2012 - 14:08 | 2620996 jayman21
jayman21's picture

One thought:

I remember saying on Sept 10 2001 as all this bad economic news was coming out, what else could go wrong?

I am having the same kind of feeling.  According to Tyler who cited Stratfor as a source that we have a third aircraft carrier on its was to Iran.

Something to scare the sheep might be on its way...

Mon, 07/16/2012 - 13:59 | 2620962 ParkAveFlasher
ParkAveFlasher's picture

< this doesn't happen with sound money

< this happens with sound money

Mon, 07/16/2012 - 14:01 | 2620968 BeetleBailey
BeetleBailey's picture

JUST ONCE.....ONCE.....would I like to see Santelli do the interviewing of these criminal bankers and douchebag Fed asshats.....take over the control room.....keep the hopium douchnozzles out.....and have Rick stick his sword into them.....not Steve "The Leering Perv" LIESman, Larry "King Ding Dong Dollar" ChewinHisCudlow, or any other douche on cBULLSHITnbc

Mon, 07/16/2012 - 14:11 | 2621011 FieldingMellish
FieldingMellish's picture

Only if they are tied to a chair and Rick has a set of knuckledusters.

Mon, 07/16/2012 - 14:18 | 2621044 reader2010
reader2010's picture

Santelli is their tool. Period!  They desire to establish a new Central Bank to fulfill the NWO. To achieve that, first they need to bring down the Fed Reserve.

Mon, 07/16/2012 - 14:28 | 2621086 monopoly
monopoly's picture

Rick is a pleasure to watch. One who tells it like it is. Too bad it is just One!

Mon, 07/16/2012 - 14:47 | 2621147 Hannibal
Hannibal's picture

Great rant Rick, but the CME puppet masters still pull your strings dont they?

Buy psysical silver.

Mon, 07/16/2012 - 15:07 | 2621229 Tortuga
Tortuga's picture

Why the heck isn't Santelli on the Short List, is Mitt Romney scared he would be relegated to 2nd fiddle? So, if they all knew, this is GW's compassionate conservatism/complicity?

Mon, 07/16/2012 - 15:23 | 2621273 bubbleburster
bubbleburster's picture

I quite agree with the comment that the market manipulation was already an old habit long before Obama became POTUS.  I think that he has much less to answer for than Bernanke and Geitner.  How they will answer for their knowledge of the malfunctioning of Libor in 2007 without doing much if anything about it will make for interesting listening when next they come before the finance committee. 

Even if Obama had become aware of the malfeasance, what pray tell was he supposed to do about it?  Fire Bernanke and Geitner on the spot and then replace them with whom?  No one replacing them would be substantially different.  The number one prime motivation for POTUS and heads of central banks is stability.  Any whiff of instability would send the markets into labor pains and wildness.  So, no, in short, POTUS was not then or even now going to summarily fire anyone.  What he or the next POTUS will do, because surely nothing will happen till then, will be to do whatever is within his constitutional mandate to set this straight.  The angriest of us will say "tear the whole thing to shreds, shut down the FED, etc., etc.", which he will never do.  To maintain order and stability the way they imagine things, they will probably set up what we call here in Canada a "Royal Commission" to examine exactly what happened, who knew what and when and a request for suggested changes to the system.  This will give the system to turn its wheels at the slow pace that the market wants it to turn and it will give politicians and probably the public ample opportunity to vent their spleen and suggest how to make it better.  God only knows how long such a massive investigation would be but it would be a good thing to do.  Financial reforms of real substance can only happen when both parties act in unison in both houses to approve of those measures.  If the next POTUS observes that the house and senate are as fractured as ever he will logically conclude that meaningful financial reform is not possible, shrug his shoulders, and ask the public "what exactly do you think I should do, given the scope of my powers?"  Good luck on that route.  It is bound to fail, given the lack of bi-partisan good will in the Congress and also given the almost complete lack of comprehension and awareness of this dispicable state of affairs by the average American. 

Mon, 07/16/2012 - 15:26 | 2621287 msjimmied
msjimmied's picture

I don't know about you guys, but every morning when I wake up, I first scan the financial news, then my heart sinks, cos IT AIN'T DEAD YET! I weigh every morsel of news for it's potential to be that proverbial straw. I'm tired of being angry, its against my normal sunny disposition. I keep telling you guys, we may get our fondest wish, the end of this bullshit, but we have to decide where we go from that point. See what happened in Egypt? They will engineer something else to take the place of what was there before, same shit, different face. The implosion in the USSR did not bring forth a better government, did it? Same old oligarchs nonsense. Note the problems of making it up as you go...check this article out on Jesse's, watch the video. If you don't make the decision, the decision will be made for you, and you will have no control over the outcome.

http://jessescrossroadscafe.blogspot.com/2012/07/weekend-viewing-terror-robespierre-and.html

 

 

Mon, 07/16/2012 - 16:36 | 2621632 Dickweed Wang
Dickweed Wang's picture

How many times are we going to watch a clip like this and mutter "fuckin bastards!" before we collectively do something to change things?

Mon, 07/16/2012 - 17:04 | 2621744 newworldorder
newworldorder's picture

The ways in which we have chaneled our Constitution in the last 30 years has rendered our political process as UNGOVERNABLE.

Look at the numerous large issues - budgetary, governance, immigration, war powers, individual liberty, civil rights, etc., - that we have not debated much less solved.

What is it about this that people do not understand ???

Are we still looking for unicorns and rainbows?

Mon, 07/16/2012 - 17:52 | 2621921 netpounder
netpounder's picture

If you climb the law ladder to find what the supreme law is that applies to you, you will find a person.  A FUCKING PERSON.  It is not a law, it is not government, it is not a party, it is not a system.  It is a person.  He may be behind a curtain and likes to tell people what he wants.  If you refuse, another person does harm to you.  If you are a friend or family of this person then you also are the law, governemnt, system etc.  Then there is the rest of us.

 

Mon, 07/16/2012 - 20:30 | 2622369 metastar
metastar's picture

These people are scum. But there is a reason this news is coming out now.

Make the banks look bad. The collapse will be their fault. Establish a world banking system as the solution.

This appears to be the plan.

Do NOT follow this link or you will be banned from the site!