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The White House apparently noticed yesterday when a CNBC analyst's impassioned critique of President Obama's mortgage-rescue plan became an Internet phenomenon.At the presidential press briefing today, press secretary Robert Gibbs(picture left) eagerly responded to a reporter's question about Rick Santelli's rant amid sympathetic, angry traders at the CME Group in Chicago."I've watched Mr. Santelli on cable the past 24 hours or so," Gibbs said, according to an account by the newssite Politico."I'm not entirely sure where Mr. Santelli lives or in what house he lives, but the American people are struggling every day to meet their mortgages, stay in their jobs, pay their bills, send their kids to school."I think we left a few months ago the adage that if it was good for a derivatives trader that it was good for Main Street," the White House spokesman continued."I think the verdict is in on that."Santelli later responded to Gibbs in an MSNBC interview, pointing out his complaint was based more on philosophical differences than on details of the plan.Gibbs contended Santelli "has argued, I think quite wrongly, that this plan won't help everyone.""This plan helps people who have been playing by the rules...I would encourage him to read the president's plan...I'd be more than happy to have him come here to read it. I'd be happy to buy him a cup of coffee – decaf," Gibbs said with a smile in an obvious reference to Santelli's passion.The spokesman showed reporters a copy of Obama's plan."Download it, hit print, and begin to read it," he said.But Santelli wasn't the only one giving an emphatic thumbs down to Obama's economic policies yesterday. His nearly three-minute rant drew approving hoots and comments from nearby traders who apparently backed his contention that the Obama administration is promoting bad behavior that must be causing the founding fathers to roll over in their graves."We're thinking of having a Chicago Tea Party in July," Santelli told CNBC "Squawk Box" co-anchor Joe Kernan. "All you capitalists who want to show up at Lake Michigan, I'm going to start organizing."Some viewers already are comparing Santelli's rant to the well-known scene from the movie "Network" in which character Howard Beale stands up in the middle of his newscast and declares, "I'm as mad as hell, and I'm not going to take this anymore!"
Santelli responds to Gibbs
Later today, MSNBC host Chris Matthews, on his "Hardball" program, invited Santelli to respond to Gibbs' comments.Asked if he was offended, Santelli said he was a "little disappointed" but understood the presidential spokesman's stance."I guess I would say it this way," Santelli said, "When there are actually some details in the plan, I will pay more even attention to it. But my rant wasn't about the plan specifically, it was about a philosophical issue, Chris."Referring to the government's intervention in household mortgage contracts, the CNBC analyst said, "The philosophical issue is this: In America, a card laid is a card played. OK. Contract law should be sacred. I don't know that any form of government should be able to come between a person who contracted with an institution and a person that signed on the dotted line."Matthews later accused Santelli of "coming down hard on Barack.""No, I'm not, I'm not coming down hard on Barack," Santelli replied. "I'm coming down hard on the notion that I don't see anywhere in the Constitution where if you work hard, you're looked at as being dispassionate, inhumane, because you won't let your government redistribute what you've worked hard for."Santelli said he wants to leave his children "a legacy, not trillion-dollar deficits."His offspring, he said should have "the ability to wake up every morning and try to be the best that they can be, and if they work hard and want to do things with the money they make, it should be theirs, and it should be their decision.""I don't understand why our leaders need to be in between that dynamic," he said.
Santelli responds to Gibbs
Later today, MSNBC host Chris Matthews, on his "Hardball" program, invited Santelli to respond to Gibbs' comments.Asked if he was offended, Santelli said he was a "little disappointed" but understood the presidential spokesman's stance."I guess I would say it this way," Santelli said, "When there are actually some details in the plan, I will pay more even attention to it. But my rant wasn't about the plan specifically, it was about a philosophical issue, Chris."Referring to the government's intervention in household mortgage contracts, the CNBC analyst said, "The philosophical issue is this: In America, a card laid is a card played. OK. Contract law should be sacred. I don't know that any form of government should be able to come between a person who contracted with an institution and a person that signed on the dotted line."Matthews later accused Santelli of "coming down hard on Barack.""No, I'm not, I'm not coming down hard on Barack," Santelli replied. "I'm coming down hard on the notion that I don't see anywhere in the Constitution where if you work hard, you're looked at as being dispassionate, inhumane, because you won't let your government redistribute what you've worked hard for."Santelli said he wants to leave his children "a legacy, not trillion-dollar deficits."His offspring, he said should have "the ability to wake up every morning and try to be the best that they can be, and if they work hard and want to do things with the money they make, it should be theirs, and it should be their decision.""I don't understand why our leaders need to be in between that dynamic," he said.
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As in the days of Noah....
