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Santelli Blames Financial Regulation Vote for Dow Drop: 'What Are They Doing in Washington?'
Newsbusters ^ | May 20, 2010 | Jeff Poor

Posted on 05/20/2010 9:29:57 PM PDT by Rufus2007

With the Dow Jones Industrial Average (DJIA) take another tumble of 376 points on May 20, some investors are pointing to problems in Europe for the sell-off. However, there may be problems at home as well.

CNBC's CME Group floor reporter Rick Santelli explained on the May 20 broadcast of "Closing Bell" it had a lot to do with the Europe and the Euro, however it isn't all coming from abroad.

"Well, a couple of things," Santelli said. Well, first of all, if you look at the high-grades, they widened out with the high-yields widened out more today at levels today that are wider than the day of the flash crash. That's ‘a.' And ‘b,' you know Maria, we have a 1.2511 on the Euro. This is so much more than just focusing on the Euro."

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

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Constitution/Conservatism; Government; News/Current Events
KEYWORDS: cnbc; finreg; moneylist; ricksantelli
Rick Santelli da man...
1 posted on 05/20/2010 9:29:57 PM PDT by Rufus2007
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To: Rufus2007

Santelli is known as the smartest guy on CNBC.


2 posted on 05/20/2010 9:32:49 PM PDT by keta
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To: Rufus2007

Some at CNBC are getting very vocal about Congress’s role in further wrecking our economy. I wonder how long NBC will let it go on.


3 posted on 05/20/2010 9:32:57 PM PDT by Oldexpat
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To: Rufus2007

>’What Are They Doing in Washington?’

Probably something that would make decent men shudder... and/or a circle-jerk.
[/cynic]


4 posted on 05/20/2010 9:33:11 PM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Rufus2007

Don’t the TEA parties owe their existence to him-?!


5 posted on 05/20/2010 9:33:50 PM PDT by imjimbo (The constitution SHOULD be our "gun permit")
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To: Rufus2007

A: Destroying Western Civilization.

Hello! That’s been the plan all along!


6 posted on 05/20/2010 9:33:57 PM PDT by Uncle Miltie (0bummer calls opponents "Teabaggers". So we can call Kagan "Carpet Muncher." Right?)
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To: Rufus2007

Santelli tends to say truthful things regardless of his CNBC handlers, thank goodness. He is one of the remaining CNBC correspondents that seems to be able to tell the truth.

Too bad though, he will probably be gone soon - to FOX...heh.


7 posted on 05/20/2010 9:35:16 PM PDT by Deagle
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To: Rufus2007

My perennial question is, “Why does the DOW track the Euro?” Today it didn’t, even though this is usually reliable. The Euro rose and the DOW tanked, and I think Santelli has a good explanation.


8 posted on 05/20/2010 9:38:01 PM PDT by dr_lew
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To: Deagle

**Too bad though, he will probably be gone soon - to FOX...heh.**

HE would be a Great Addition to the FOX Team.. especially if he was to REPLACE O’Really!


9 posted on 05/20/2010 9:38:38 PM PDT by gwilhelm56 (The one thing we learn from history is .. People REFUSE to Learn from History!!)
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To: dr_lew

Santelli sure has a better explanation than the notorious loudmouth, leftist apologist, Jim Cramer.


10 posted on 05/20/2010 9:41:18 PM PDT by GregoryFul
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To: Rufus2007

they are killing the country ...deleting personal wealth.


11 posted on 05/20/2010 9:41:32 PM PDT by dalebert
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To: Rufus2007

The market is simply calculating the financial effect of the democrat party’s new assault on the US Economy.

Expect a massive sell off tomarrow, with the Dow down 300+ more points, IMHO.


12 posted on 05/20/2010 9:43:18 PM PDT by FormerACLUmember ("Subtlety is not going to win this fight": NJ Governor Chris Christie)
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To: FormerACLUmember

I should have bailed out...the thought of more gov control over anything makes me sick.


13 posted on 05/20/2010 9:45:14 PM PDT by dalebert
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To: Rufus2007

He knows Socialism when he see’s it.


14 posted on 05/20/2010 9:52:05 PM PDT by ncfool (The new USSA - United Socialst States of AmeriKa. Welcome to Obummers world.)
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To: dalebert
I work at one of these large banks and we are just coming out of the woods from the last 18 months. My bank has already said if the Senate version of the bill is signed into law there will be lay offs.

I have a better idea then a new law. How about putting Sen Dodd and Rep Barney Franks in jail for the fraud they committed in causing a great deal of the banking problem? The will make America much safer in the financial world!

15 posted on 05/20/2010 9:53:37 PM PDT by Plumres
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To: keta

“Santelli is known as the smartest guy on CNBC.”

Rick, is probably the most honest. The rest are left wing suck ups, who never report the real news or dare to question Lord 0haha and his Chi Town thugs.


16 posted on 05/20/2010 9:53:42 PM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: gwilhelm56

Look forward to the addition - he deserves it!


17 posted on 05/20/2010 9:56:10 PM PDT by Deagle
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To: gwilhelm56

Fox should replace O’Reilly, Shep and their Saudi shareholders.

Santelli is the only thing good on TV.


18 posted on 05/20/2010 9:58:38 PM PDT by Frantzie (McCain=Obama's friend. McCain/Graham = La Raza's Senators)
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To: Rufus2007
But, but but... ABC News told me it was all about Greece and the jobs report and had nothing to do with the end of debate on new financial regulations!
19 posted on 05/20/2010 10:21:01 PM PDT by Dr.Deth
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To: GregoryFul
notorious loudmouth, leftist apologist, Jim Cramer.


20 posted on 05/20/2010 10:22:49 PM PDT by Dr.Deth
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To: keta

He knows finance because gentleman prefer bonds.


21 posted on 05/20/2010 11:02:15 PM PDT by Proud_USA_Republican ("The problem with socialism is that you eventually run out of other people's money.")
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To: Proud_USA_Republican

I guess that counts me out although my wife wouldn’t think so. I trade mostly derivatives


22 posted on 05/21/2010 9:06:37 PM PDT by keta
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To: keta

Well she hooked up with you so she’s obviously a woman of discriminating taste and perfers AAA ratings. ;)


23 posted on 05/22/2010 2:30:16 AM PDT by Proud_USA_Republican ("The problem with socialism is that you eventually run out of other people's money.")
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To: Rufus2007

I posted the same sentiments as Rick here in FR the day of, unaware of what he had said.


24 posted on 05/22/2010 2:44:12 AM PDT by taildragger ((Palin / Mulally 2012 ))
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To: keta

... and the father of the Tea Party movement...


25 posted on 05/22/2010 4:31:01 AM PDT by GOPJ (...man was meant to be doubtful about himself, but undoubting about the truth-Gilbert K. Chesterton)
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To: Rufus2007
A poster that sums it up
26 posted on 05/22/2010 4:38:42 AM PDT by mewzilla (Still voteless in NY-29.)
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To: Grampa Dave
And for anyone who missed it....

Rick Santelli and the "Rant of the Year"

27 posted on 05/22/2010 4:39:56 AM PDT by mewzilla (Still voteless in NY-29.)
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