If CNBC on-air talent has really had their hands tied by General Electric and NBC management on criticizing the current administration's economic policy, you couldn't tell it from watching Rick Santelli and Larry Kudlow.
On CNBC's April 24 "The Call," Santelli expressed his frustration with an overreaction by the government to solve the financial crisis when Kudlow asked him about the expansion of bailout obligations from the original TARP bailout price tag $750 billion to the $3 trillion.
"Listen - I'm glad I didn't say that, I'm glad I didn't say all that," Santelli said. "Do I disagree with it? Probably not. But, I'll take it a step farther - in the beginning, whether it was the commercial paper program, there was a need just like babies have a need for milk. But I don't need to drink a couple of gallons anymore."
But Santelli responded by raising the point that a lot of issues have arisen from the government sudden intervention in the American economy, which started with TARP. He specifically alluded to the government's new efforts to regulate the credit card industry,
"How do you know with certainty that program has done anything," Santelli said. "How do you know with certainty that if we let all of this fail, maybe if we were more grown-up, we wouldn't pass on our problems to the next generation - maybe we would have had a problem for a year, or two years in. And, the problems are all around us - we're going for credit cards now. And if we tell them what to charge and it doesn't work, there's another hat in hand. It's horrible."
Kudlow, who had written originally about it on his "Money Politic$" blog on National Review's Web site, made the point that according to the Special Inspector General of TARP Neil Barofsky's report - the program is awash with fraud and corruption, among other heavy-handed government flaws.
"Government planning, government controls, state-directed economy, corporate capitalism, central planning, industrial policy - that's what this has got," Kudlow interjected. "This guy Barofsky said this thing has overtones of a criminal enterprise."
Liesman said it was the lack of regulation that got things to where they are currently, but Santelli responded by saying it's also OK for things to fail in a capitalist economy.
"I'm not fans of anything but capitalism and if it fails once in awhile, it's better than Washington dictating," Santelli added.
Liesman also said Kudlow was over-the-top on his criminal enterprise accusations, despite the 20 criminal probes into TARP by Barofsky.
"He's the inspector general of the TARP program," Kudlow said. "He is an attorney, he is a former special prosecutor - you're going to tell me he's wrong? I'm not making this up, I'm just reading his press release."
However, Santelli showed that government often fails when it attempts to participate in a free-market economy and cited one specific example.
"My last word is - just think about Amtrak when you think about getting out," Santelli said.




















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Comments Policy
My main man Rick
April 24, 2009 - 15:44 ET by bobthemanMy main man Rick should run for office. He wouldn't win because it's too much common sense, but he should run.
http://politicsofdes...
Thanks for posting this.
April 24, 2009 - 15:47 ET by ekslibI'm glad I got the chance to see it.
Santelli...I lift my
April 24, 2009 - 15:47 ET by bigtimerSantelli...I lift my Tea-Cup to you...Cheers for all you have done!
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
Don't forget, now that
April 24, 2009 - 15:48 ET by motherbeltDon't forget, now that government has its nose in the tent, it is talking about converting its "investment" into an equity share in the banks....
Re the credit card industry....I think they are just looking for more things they can interfere in.
They might say "Wow, that sucks!" But at least they'll say "Wow!" -Duff Goldman, the Ace of Cakes
Re Kudlow
April 24, 2009 - 16:21 ET by slickwillie2001I never miss Kudlow at 7pm on CNBC. He's much better than anything Fox News has put together in that slot and he takes no BS.
still think this isn't about nationalization?
April 24, 2009 - 19:05 ET by candanceTCF Bank just announced that they insisted on returning all of the TARP money because they really didn't need it and were tired of the retroactive punishments the government kept putting on them.
When they attempted to repay the money, the government would not allow them to pay it back until they dropped their dividend payments to 5 cents a share.
That's right. A month ago if you owned stock in TCF you recieved 25 cents a share. Now, just because they are wealthy enough to pay the money back, the government has forced the same stock to pay 5 cents.
The government is blatantly sabeutaging private banks to drive investors to the ones under government control.
I would send them a check
April 24, 2009 - 20:12 ET by ckc1227I would send them a check for what was owed, then tell them they could do whatever they want with it, but our business together is finished.
BOR and Beck
April 24, 2009 - 19:57 ET by bigtimerHey, speaking of Wall Street, stocks, the govt and all that jazz, did anybody just catch the Beck/BOR Show regarding DiFi and her partner in crime, if you missed it you have just got to catch it, I know the video will be on the Fox Nation later, or just the regular Fox News link....or the repeat, just catch it if you can, I haven't seen anything better in a long, long time.
Like what was mentioned, this alone should have expelled anyone from the Senate what went on, but this is the third time that I know of this woman, this whiz-bang gets away with all she and her husband do, at our expense, we pay for this, and they remain very very wealthy.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
→ Of course bt
April 24, 2009 - 20:02 ET by Cool ArrowBeck was slapping Feinstein and her insider trading husband pretty well yesterday also.
It's hard to talk when you're teabagging - Anderson Cooper
Hi Cool, I saw that last
April 24, 2009 - 20:08 ET by bigtimerHi Cool,
I saw that last night too...and thank God Beck is all over this, but the shtick those two did tonight was a blast.
They creamed her along with the absurdity of everyone else ignoring this as far as I am concerned, I hope you know what I mean.
I relished it all...in my eyes it was all priceless!
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
→ Pelosi and Feinstein
April 24, 2009 - 20:17 ET by Cool ArrowI've developed DDS. I'd call it LDS, but there's a respectable church going by that name.
Nobody seemed to mention the reason the Alamo only got 15-20 thousand for the Tea Party was that real Americans have jobs, and can't break free in the middle of the week.
I certainly understand the ease with which ACORN and Unions can garner giant crowds for their Liberal causes. Those who do have jobs get the day off as part of theircontract.
It's hard to talk when you're teabagging - Anderson Cooper
OK RO, ...I'll
April 24, 2009 - 20:34 ET by bigtimerOK RO,
...I'll bite....what does DDS and LDS stand for?
I absolutely cracked up laughing reading your new tag-line....one of the best I've seen in awhile.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
Oh I'm sure it's Democrat
April 24, 2009 - 20:37 ET by JerOh I'm sure it's Democrat Derangement Syndrome and Liberal Derangement Syndrome. Yuk, yuk, yuk.
Jer
Jer, No wonder you knew
April 24, 2009 - 20:50 ET by bigtimerJer,
No wonder you knew these right off the bat, you live it. ;-)
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
My shrink suggested
April 24, 2009 - 21:02 ET by JerMy shrink suggested there's a sure-fire remedy: Become a Republican. I told him the cure is worse than the disease. ;-)
Jer
~Come over the fence and join us, Jer
April 24, 2009 - 21:06 ET by choselife3xYou'll like it, I promise. We have awesome cookouts, and our women are hot. ;-)
That high-pitched scream you hear is the troll under my heel.
I've considered it, choselife...
April 24, 2009 - 21:14 ET by Jercuz you're right about the women. What you guys lack in quantity, you make up for in quality. But I just can't handle having to wear those "I Luv Rush" T-shirts to the cookouts.
Jer
→ Understood Jer
April 24, 2009 - 21:19 ET by Cool ArrowBut I couldn't sport the Lib bumper sticker.
It's hard to talk when you're teabagging - Anderson Cooper
Lib bumper sticker?
April 24, 2009 - 21:31 ET by JerDrive through Texas and I don't think you'll be sportin' one very long.
Jer
→ Go for it Jer
April 24, 2009 - 21:37 ET by Cool ArrowWe Texans will chuckle at you, but I think you can get away with it.
It's hard to talk when you're teabagging - Anderson Cooper
→ Jer
April 24, 2009 - 21:06 ET by Cool ArrowI'm curiuous. Do you retain a shrink for access to legal feelgood drugs or do you really have issues with your identity?
I went to a shrink twice. Had to break the pills in half, they made me feel so good.
It's hard to talk when you're teabagging - Anderson Cooper
Cool...
April 24, 2009 - 21:25 ET by JerBoth, but the drugs help me deal with my Superman complex.
Jer
You Could....
April 24, 2009 - 21:13 ET by PopularTechBecome a Libertarian and embrace economic freedom while maintaining your passion for personal liberty?
Obama: "Cap & Trade Will Cause Electricity Rates To Skyrocket"
Yeah, but what about the
April 24, 2009 - 21:15 ET by JerYeah, but what about the women?
Jer
LOL
April 24, 2009 - 21:45 ET by PopularTechIt allows you to play both fields (democrat and republican). When talking to Democratic women you keep the conversation to personal freedom politics, with Republicans economic freedom.
Obama: "Cap & Trade Will Cause Electricity Rates To Skyrocket"
Pop Tech...I wish you had
April 24, 2009 - 21:51 ET by JerI wish you had told me about this thirty years ago. Sounds like it would have boosted my chances.
Jer
→ Jer
April 24, 2009 - 21:56 ET by Cool ArrowThirty years ago playing the Alan Alda, sensitive type, got you laid.
It's hard to talk when you're teabagging - Anderson Cooper
Cool...
April 24, 2009 - 22:04 ET by JerBut what if you looked like Radar?
Jer
**Jer
April 24, 2009 - 22:09 ET by pelicanmarshNo worries there.
30 years ago, during the disco years, with all the coke flying around, even guys that looked like Radar could get laid.
Why, I myself was just a young lad in my teen years, and I scored with the entire Dallas Cowboy Cheerleaders Team at Studio54, thanks to some good Bolivian snow.
Freedom of Speech is a Constitutional privilege; it is not a license to parade yourself as a wanna-be intellectual jackass.
Jer,
April 24, 2009 - 22:10 ET by R D HelmLOL-That was what the spiked grape Nehi was for. :-)
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Let's see, pure grain
April 24, 2009 - 22:22 ET by JerLet's see, pure grain alcohol and Bolivian coke. Got it. And what would the girls be having?
Jer
MM is thinking yuze guys
April 24, 2009 - 22:35 ET by MightyMouthMM is thinking yuze guys are off subject on this particular blog post. But hey... I've been wrong before (just ask Mrs MM)
"There are two types of people in this country; those who provide freedom and those who enjoy it." MM says...
Yes, MM, my friend, you
April 24, 2009 - 23:11 ET by JerYes, MM, my friend, you have indeed been wrong many, many times. But not this time. You are spot on. I honestly didn't even know the subject of the blog until just now. I just clicked over to guess at DDS and LDS and, well, things began to go awry.
Now...what's your advice for getting laid? [Just kidding...time to get serious again.]
Jer
Advice on getting laid...
April 24, 2009 - 23:20 ET by MightyMouthtalk to the drunkest Girl with the lowest self esteem. But I am sure you already knew that "Jer".
"There are two types of people in this country; those who provide freedom and those who enjoy it." MM says...
Right "MightyMouth"...I've
April 25, 2009 - 19:04 ET by JerRight "MightyMouth"...I've heard that advice, but never followed it. The fact is, I never needed to, nor wanted to. Self-loathing drunks don't appeal to me. Are you speaking from experience by any chance?
Jer
LOL
April 24, 2009 - 22:46 ET by R D Helm-Dave
This coup has gone on long enough. The time to put it down is NOW.
Jer... You really need to
April 24, 2009 - 21:25 ET by bigtimerJer...
You really need to fire your shrink...he is one of the biggest problems you have, you are the other. ;-)
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
It's a dilemma, bt...
April 24, 2009 - 21:37 ET by JerIt's a dilemma, bt...
I've got too much invested in him already, and nothing to show for it. Kind of like my stock portfolio.
Jer
Cut the apron strings
April 24, 2009 - 22:07 ET by bigtimerCut the apron strings Jer...you still will always have to live with yourself, you can't pay somebody else to make excuses....hug yourself Jer, you'll feel so good and cuddley all over, plus you'll be saying to yourself, somebody likes me, they really, really, like me.
Think of the $$$$ you will save friend....time goes by fast, put it under your pillow and the Tooth Fairy that never visited you may stop by and leave you a gift...
Come on Jer, you just never ever know.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
bt...
April 24, 2009 - 22:26 ET by Jersomebody likes me...and that "somebody" would be...ME?
I like that idea, bt. Thanks, dear.
Jer
Anytime. ;-) Doubling
April 24, 2009 - 22:34 ET by bigtimerAnytime. ;-)
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
→ Acronyms
April 24, 2009 - 20:40 ET by Cool ArrowDem Derangement Syndrome, or Lib Derangement Syndrome.
But I couldn't us the acronym for Latter Day Saints and cause confusion on Lib Derangement Syndrome.
And the Anderson Cooper thing is a quote from his show.
It's hard to talk when you're teabagging - Anderson Cooper
RO... Thank you for the
April 24, 2009 - 20:46 ET by bigtimerRO...
Thank you for the explanation of the acronyms.
I did know that about AC Coopers words out of his own mouth...that's why I love the tag-line so much.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
Evening BT...
April 24, 2009 - 20:29 ET by AnotherFedUpOneI too watched this just now, and am still furious over this whole thing. When I first read about this a few days ago, I passed it on in passing to others. They were as pi$$ed as I was .......
Wishing there was a way to get the people accountible for thier actions, or that we could get these people out of congress......
Beyond words, so angry......
check your pvt email BTW!
Hey FedUp... Did you
April 24, 2009 - 20:42 ET by bigtimerHey FedUp...
Did you catch that about Hardin wanting to take the GITMO prisoners...ucw told me about it late last night with a link, of course now it is major news sort to speak, anyway, if you don't know about it, I will send you the link, it's on the Front Page of a lot of state papers...Fox has reported on it since early this morning, don't know if you saw my reply about it last night about this, but I have a feeling you may have a good guess what it was.
"Doubling down on stupid is not a particularly good idea." ~Andrew Breitbart
Hey BT....
April 24, 2009 - 20:54 ET by AnotherFedUpOneyeah heard about the prison thing this morning as well. The NBC staiton here even had the report on it tonight...with an interview with Maxxed out Baucus.....who is.....AGAINST IT! wow...could have blown me over with a feather for that one...even the paper said that all three of our reps are against it!
This is the email I recieved this morning......
I just watched on the news last night (Thursday 4-23-09) that our government wants to put the gitmo detainees in Hardin MT. while they are waiting to go to trial. I say no way, and am going to write our congressmen to tell them just how I feel about it. I say put those ba$tard$ in California, Mass., Oregon, Washington, Washington DC, or any bleeding heart liberal state. If the liberal people think those bastards deserve a tax payer provided trail, then they can put them in their back yard not ours.
Guess I need to find out how the guy really feels about it.....
FedUp... Wow, like I
April 24, 2009 - 21:13 ET by bigtimerFedUp...
Wow, like I told ucw late last night when he first informed me of this is I was going to go viral with the link, plus start writing to the papers again, and when I woke up this morning it was on the news, the msm news, we don't get Montana news out here, it is the Spokane Stations we get, which partly we are grateful of but other parts not, anyway, I guess Baucus already has had an earful, and Tester bows to him and Reid basically, I have watched him carefully on the Senate floor...he us exactly what I expected.
What I want to know is where are the people responsible being held accountable in the msm for the 27 million they got to build an empty prison in the first place at the tax payers expense that they can't even get one occupancy filled in their lovely Hotel room.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
Yeah BT....
April 24, 2009 - 21:30 ET by AnotherFedUpOneI am wondering the same thing... I guess I dont remember anything about this prison being built. And now it sits empty, I guess its supposed to be a Fed Prison? Am trying to find a link for the story and will pass it on if I find it.
You enjoy the AGW today?
FedUp... Yeah I enjoyed
April 24, 2009 - 21:50 ET by bigtimerFedUp...
Yeah I enjoyed the algoreglobalwarming day today until I listened to that over-weight, slit-eyed gas-bag before congress today testifying before them all about our Climate Crisis...along with (R) John Warner sitting by his side contibuting his hot air...all for their investments into the Cap and Trade swindle they have going on us tax-payers...glad to see so far this isn't going to go far, unless they do so incrementally via the conference committees.
Here is the link I have now...you can find one easily now with google regarding this matter, it is all over the place...The Missoulian is my home page, it is there too.
Doubling down on stupid is not a particularly good idea. ~Andrew Breitbart
BT...let it snow....
April 24, 2009 - 21:58 ET by AnotherFedUpOneyeah I enjoyed all the wonderfull snow today too...knowing that the Big Al was on Cap Hill spewing forth all of his garbage...
Thanks for the link. I would like to see that prison get something going for the taxpayers to get the return. And those folks over in that area need the work too. But I am not sure this is the way to do it. I was looking for the link on the NBC stations, but its not there at all. Oh well, my luck.
You have a great evening and a better weekend!
I also saw this, and Beck
April 25, 2009 - 08:22 ET by Radical1979I also saw this, and Beck was on O'Reilly talking about it again. I would love to see her facing criminal charges for this.
→ Santelli
April 24, 2009 - 20:07 ET by Cool ArrowThat guy just doesn't know how to toe the party line, does he?
It's one of those catch-22 situations with Santelli and Kudlow. They're right, and it's a show about investments, so CNBC has to allow a little bit of truth to slip in from time to time.
It's hard to talk when you're teabagging - Anderson Cooper
Steve Liesman is the Dumbest Person on CNBC
April 24, 2009 - 21:29 ET by PopularTechThe man is pure economic ignorance. His clueless babble is beyond annoying. Why anyone with half a brain would take investment advice from him is beyond me. This is how his name should be portrayed...
Steve Liesman
Obama: "Cap & Trade Will Cause Electricity Rates To Skyrocket"