Santelli: Shut the Hell Up Already
CNBC’s management really needs to be hosed out.
What special kind of idiot does it take to put Rick Santelli on to try to redirect public anger away from AIG’s moronic "retention bonuses"?
This is the very last guy who should be put in front of this issue, especially after his spectacular little man rant about the Obama administration providing too much protection for foreclosed homeowners. During his so-called "rant of the year", Santelli actually bemoaned government "promoting bad behavior" with stimulus funds.
And yet earlier today Santelli likened the public and government concern over AIG’s bonuses to worrying about a towel bar when people should be worried about the rest of the house.
As if richly rewarding with millions of dollars the progenitors of the single largest quarterly loss ever reported by a U.S. corporation was as inconsequential to AIG’s operations as a towel bar is to a house.
Santelli has conveniently forgotten over a matter of a couple of weeks that AIG announced a whopping $61.7 billion loss last quarter, after AIG received nearly $180 billion in funds.
You’d think that CNBC would clue in about audience anger and loss of market share and put a muzzle on Santelli.
Or perhaps this is why Ron Insana is coming back to CNBC; maybe we won’t have to hear from Santelli quite as often if they have another head to put in the "octobox"?