He's baaaack. Rick Santelli, the right wing hero and the man who too cowardly to represent CNBC on The Daily Show is now calling the payouts of bonuses to AIG executives nothing more than a bathroom product compared to other monies being spent. He says he's outraged as anyone over it though, but a contract is a contract.
SANTELLI: Now, think about it this way. Maybe I'm missing something. But the outrage seems to be about M's, millions of dollars, right? $165 million, OK?
But I would think that it should be looked at as a pretty big positive, because when you go from the M, maybe you should try to go to the B's, which is the billions of dollars, and maybe that's going to even enlighten it for the T, trillions of dollars. You know, $165 million is like worrying about 16.5 cents, while $165 maybe necessitates a little more outrage. What do you guys think?
Watch the beginning of the clip and notice how CNBC's Melissa Francis and MSNBC's Contessa Brewer defend Santelli calling Americans who got underwater in the housing market as "losers," by saying it was just in the heat of the moment.
Brewer: ...he called them losers...
Francis: I think he regretted that word.
Brewer:...and his rants, well you know sometimes we say things in the heat of the moment that is easy to regret...
Francis: This time Santelli's making waves, trying to put the AIG bonus outrage into perspective....
The man the legend, CNBC's Rick Santelli joins us now live from Chicago. Rick, alright you've got to explain the logic to us here because the people who love to misinterpret you are already out there doing there work.
Santell: I am as outraged as anyone for rewarding bad behavior, however if there were contracts in place....We are now focusing on a sixteen dollar towel rack in the bathroom, but times that by a thousand....
Francis, who I watched say that Joe the Plumber was a star on this time block for MSNBC certainly has Santelli's back. Is she saying he was misquoted when he called average American "loser?" It's amazing how tone deaf these pundits and politicians have been over AIG and their feelings about Wall street. The public is furious and to think that a meager 165 million dollars of bonuses wouldn't upset America is insane. And Obama's people have not done a good job on explaining this situation either. I'd like to see Santelli forfeit his entire salary since he's been a leading voice on CNBC throughout the worst economic meltdown in generations as a show of solidarity with the American people, who he believes are losers.
And the amount of signatures on our FiX CNBC petition is now higher than the DOW.
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