CNBC's Santelli Brandishes Hammer to Illustrate Overreaching Obamanomics

NewsBusters ^ | February 3, 2010 | Jeff Poor

[Rufus2007]

As the old cliché goes, you don't use a sledgehammer to crack a nut, but according to Rick Santelli, that's exactly what it appears the Obama administration is doing terms of financial regulation and fiscal discipline.

On CNBC's Feb. 2 broadcast of "Fast Money," host Melissa Lee proposed that taxing the wealthy is not the path to "economic prosperity and fiscal stability." Santelli, the network's CME Group floor reporter, agreed.

"Well, you're right," Santelli said. "But I also think you're going to see when the Bush tax cuts expire, a lot of middle class write-offs and exemptions and various tax benefits will also fall by the wayside. Not the least of which to mention, I have so many friends that work for the financial industry. And they've learned from the government, even if you only make $25,000 to $125,000 a year, one firm says if you leave to go into another job or whatever, anything outside retirement, they're going to keep 10-to-20 percent of the stock they took from you following the government's directives."

...more (w/video)...

[Rufus2007]

Nice illustration.

[TheRobb7]

Hammer time.

When he talked about tea parties, it touched off a national movement.

Should we now organize “Hammer Parties”?

... can’t touch this....

[Old Teufel Hunden]

"Fast Money panelist Karen Finerman asked Santelli what should be done - if not higher taxes and stricter rules."

Gotta be a liberal, fortunately Santelli straightened her out with two words, stop spending. It's so simple, that's why liberals can't understand it.

[vaudine]

To show a true symbol, he would have to brandish a sickle along with hammer, and a star above.

vaudine

[CPT Clay]

God Bless Rick Santelli

[OrioleFan]

An added plus would be the SEIU goons would be reluctant to move in and crack heads.