Santelli Slams "It's Not My Job" Bernanke And Screams "Enough Is Enough"

Tyler Durden's picture

CNBC's Rick Santelli is goaded into responding to the easing-based hope that is driving stock prices and levitating every risk asset class. "Enough is enough", he notes, quoting Volcker's recent comments, "as we have to let the economy sink or swim on its own at this point." Liesman's responds by stepping away a little from his comments as he leaves Bernanke alone believing that QE will do some good at the margin (while the economic reporter remains less sure). Implicit in his downgrade of the economy is an increase in the probability of additional QE and retail sales sank the ship. A little later in this brief clip, Rick goes full-Santelli - feeling the need to add a third pillar to the Fed's mandate "if we see something wrong in the market, it's our job to do something about it" with Bernanke's response being "it's not my job". Critically, Rick notes, "if anybody listening or watching right now ever thinks that more regulators will ever stop anything, you have to watch Ben Bernanke - appears to be an honest guy and straightforward though I don't always agree with him - saying 'it's not my job. I don't regulate that.' unbelievable!" The CYA, not-my-problem, someone-else-did-it, keep-my-job mentality when it's front-and-center in the most powerful financial entity in the world is deplorable.

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battle axe's picture

"its not my job" like school children, oh wait this is the federal govt, what was i thinking.

slaughterer's picture

Ok, but can ZH tell us all when to start leveraging into index shorts?

Nothing To See Here's picture

The two most common answers you can get from a government guy when there are problems related to what he has done :

1- "I'm too fucking busy"

2- "It's not my job"

Widowmaker's picture

Responses shirk responsibility like these faggots.

Don't forget the timeless classic, "no one saw it coming."

There are no adults in finance.  None.  It's an all girl daycare.


King_of_simpletons's picture

Chuck E. cheese: Where's dem QE at ?

Bernank: Dang dog ate der QEs massa

TruthInSunshine's picture

Steve Liesman wipes Bernank's splooge from his chin and tells Hilsenrath to slip a note to Bernank thanking him and asking for another.

Speaking of Bernank's splooge, whatever happened to Dennis 'Digital Dickweeds' Kneale (aka Beaker)?

SilverIsKing's picture

D(ic)K is now on Fox Business.  I used to think Fox had a bit of class but I was wrong.

TruthInSunshine's picture

Fox is just another cog in the wheel of the Kabuki Theater, aka the false left-right illusion.

Gotta keep the plebes enraged about, focused on and fighting over whether the pledge of allegiance should be recited in public schools or manger scenes should be allowed in city squares while the CronyKleptocracy plunders and rapes.

Thomas's picture

I had totally forgotten about Dennis the Menace. That was a dreadful chapter in CNBC history. 


BTW-Santelli has this one right: Bernanke was claiming lack of responsibility where clearly he had the power to step in and clamp down on the madness.

Dr. Richard Head's picture

3- "We are understaffed"

4- "We are underfunded"

5- "We need Congress to act"


Grinder74's picture

6 - too many midget porn sites, so little time.

i_call_you_my_base's picture

I find the same in private companies.

Nothing To See Here's picture

In the larger ones, now mostly government parasites functionning like governments because their officers are government people like James Taggart, yes you're right.

In the smaller ones, you may ear "I'm real busy", but usually that's true and they'll take the extra work anyway.

DeadFred's picture

When the missles fly, that's the time to short. (Not ERY though)

Buckaroo Banzai's picture

We can keep criticizing the Fed, or we can simply dismantle it, and return control of the nation's money to the Congress, which is where the Constitution says it should be in the first place.

Why don't we dismantle it.

Vidar's picture

We need to return the control of the money supply to the markets, not Congress. Get government out of the economy. Political control of the means of production is socialism, money is the ultimate "means of production". We need a commodity money that is outside the ability of any group to control or manipulate.

libertus's picture

Becky Quick...She makes me sick...I think she has a little dick...she like to interview even smaller pricks. 

azzhatter's picture

that bitch is insufferable. such a mealy mouth cunt. her stupid interviews with Warren "the fraud" Buffett got me off that show forever. Haven't watched CNBC in at least 6 months. They are all cunts

Navigator's picture

I don't mind Becky.  They can't all be Santelli or as good as Santelli.  

I don't watch CNBC either but the reasons are the fact-free nonsense from the right-wing extremist bubble that is all Joe Kernan and MCC can bloviate about and, of course, the worthlessness, and noise level, of anything Kramer screams into his microphone.

If CNBC cared about their ratings, these three would be gone tomorrow.

azzhatter's picture

agreed, they are all insufferable.

libertus's picture

sorry a mistake on the last line. It should read "she likes to smoke even smaller pricks." (eh Warren B?)

hedgeless_horseman's picture



"It's not my fault."
-Leeroy Jenkins

Comay Mierda's picture

on a brighter note i'm listening to CSPAN callers calling in and RIPPING apart the fed.

Ron Paul has enlightened many many people to their fraud

and sites like ZH are adding to that momentum

feels great listening to these calls. the newswoman doesnt even know how to respond to them lol

RobotTrader's picture

Bernanke is doing exactly what Santelli suggests.  He's gonna leave things alone and let stocks and the economy recover on their own.


That is why gold is getting smoked, and the "acclaimed experts" at King World News are sitting at their monitors slack-jawed in amazement scratching their bums.

Comay Mierda's picture

short gold. put your money where your mouth is

akak's picture

The only things short in RobotLemming's life are his attention span, his winkie, and the special bus in which he rides to school.

nope-1004's picture

Facebook longs are getting blow torched.  Many invested in the "new social media" site with their life savings and are being screwed.  Morgan Stanley is incompetent in its valuation.  Many banker-pimps are sittiing in their cubicles watching FB scratching their eye lids.  LOL.


Widowmaker's picture

Widowmaker is short gold.  Has been since October of 2011.

See ya in the 700's (easy money).

Hint: Coins can't light your homes or drive you to work like other assets with practical utility.  But, you can hold them and cry when others take the other side -- PM's are emotional investments only, much more of a vulnerability than strength.

JuicedGamma's picture

It does seem everyone got on one side of the boat.

A sure tell was when central banks began buying up gold, remember they were big sellers into the bottom, early 2000s.

hoos bin pharteen's picture

That would explain my recent boating accident.

Debtless's picture

As usual RoboTrader, with all of the fuckle which drivels from your posts, again I had an extremely hard time masteurbating to your avatar. But alas, I pulled it through once again.

Al Huxley's picture

OK, OK, the raw-raw guys on King World News are at a minimum ahead of themselves for the moment, but having read the articles there, they're for the most part saying gold IS GOING TO break out of this consolidation, and honestly, it's still within the consolidation triangle and hasn't broken either way yet, so you might want to hold off on the 'gold is getting smoked' call until it actually moves one way or the other.  Or at least, if you want to be on par with the KWN guys in terms of credibility, phrase it as a forecast - ie 'gold is GOING TO get smoked'.  Because really, .5% down in a consolidating triangle in a long-term bull market doesn't qualify ias 'getting smoked'.

nope-1004's picture

Well said, concise, and accurate.  Why waste it on Robo?  He's like Max Fischer / MDB..... just a gov't troll.


JPM Hater001's picture

Left hand meet right hand...just dont tell anyone what it's doing...under that blanket...with your pants down..

Jlmadyson's picture

Yea it was one call after another. Straight up people saying his assessment of the economy is BS. Average joe waking up.

Debtless's picture

We'll be eating each other soon.

MrSteve's picture

Pending cannabalism is not a happy forecast, care to revise it?

tony bonn's picture

"...The CYA, not-my-problem, someone-else-did-it, keep-my-job mentality when it's front-and-center in the most powerful financial entity in the world is deplorable...."

for once i agree with the is not his job to fix markets.....god knows the nincompoop has been trying to do so for years without success - or more accurately rigging them for his bankster friends.....of course he is disingenuous because he has claimed all along that his pixie dust was magical but there is a point where his voodoo is overwhelmed with market realities....

i'd still fire his ass anyway - he is a perjurer and criminal all the same...

JackT's picture

Need....more...brainzzzz...(no wait)...need...more...QEEEEE

fonzannoon's picture

Liesman is bald, fat and smug. Thats tough to pull off

agNau's picture

The wait for QE has reached it's limit IMO. Everyone is waiting which was the plan. Talk will no longer suffice.The next shoe falls soon.
Watch as the knife slices Bernanke's fingers off!

Dr. Engali's picture

If he doesn't print before October he is going to have to print twice as much to catch that knife. When this market rolls over it is going to happen fast since there are no shorts to buy at lower prices.

Hype Alert's picture

There are shorts, just they are getting slaughtered.


I remember thinking when the Chinese wouldn't allow shorts, how third world.  Truth is they were at least intellectually honest about it, where we allow shorts and then game the system.  It's broken, I just don't know how else to describe it.

Dr. Engali's picture

My point is that there are fewer and fewer shorts that jump on every down tick. They are getting timid and tired of getting slaughtered. The thing about markets and politics is the politicians are too stupid to understand just how important shorts are to a "free" market.

JuicedGamma's picture

"Don't fight the Fed" seems apropos to insert here.