Really Rick?

One of the most amazing times working on a trading floor is right before a major economic indicator comes out. The floor is in absolute silence for the few seconds before, and then explodes into hyperactivity when the number is out. CNBC always has had a correspondent, Rick Santelli, who's energy level matches the moment as he opines on the data right after its out.

Rick has made himself a bit famous after a major rant last week about the Obama housing plan. After watching it, he has suddenly become the "face of the opposition" for conservatives and right-wingers who are opposed to bailing out homeowners. To all those who have legitimate gripes with the Obama housing plan (and I have my own doubts but think it's a necessity in the the overall comprehensive approach), this is NOT the youtube you want to advertise. Really Rick? I imagine his life is fairly sheltered, but yelling among a mass of derivatives traders about the government being unfair is not the best PR move right now. "This represents a cross-section of America"?



I was a little surprised when Robert Gibbs (Obama's press secretary) answered the rant at a very personal (and kinda funny) level, but then it once again dawned on me. Just watch: Santelli will naturally escalate the situation and continue to yell and will be the de facto spokesperson for "fiscal conservatives", and these clips will be aired on every news show and just make the average American hate the vague concept of "Wall street trader" even more. You are basically going to make "trader" the new "fundamentalist christian crazy" and a rallying point for the general population. To Rick and the guy who whistles and yells "moral hazard" in the video, please shut up..you're making us all look worse.

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