(You can see his entire rant in this video, here.)
Santelli’s comments clearly resonated with the traders on the floor. They’re hardly a shy bunch but once he got going they didn’t hesitate to make their opinions known.
In fact his comments resonated with so many of us that Santelli’s rant quickly became an Internet sensation.
In just over a week it’s been viewed by well over one million people. The clip has become such a phenomenon that’s it even caught the attention of the White House Press Secretary Robert Gibbs who called out Santelli by name.
There’s no doubt Rick has been aggressive in his call to catch the cheaters. But maybe what's touched a nerve this time around is a collective nagging suspicion that some sneaky homeowners could be playing taxpayers. That is, they could use the bailout as a way to afford a house they otherwise could not afford - and at our expense.
Of course it's worth noting the Obama administration has promised the money will only go to deserving homeowners. But, considering unscrupulous behavior got us here in the first place, it's not surprising that Santelli is irked.
Let's just hope we don't find a lot of tea floating in Lake Michigan. Afterall Santelli is from Chicago.
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Trader disclosure: On Feb. 26th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (EEM), (MON), (BAC), (FXI), (VIP); Seymour's Firm Owns (COP), (FCX), (RIO); Terranova Owns (OTS), (FXC), (XBI), (BRCM), (WYNN), (INTC), (DELL), (JOYG); Terranova Owns (IBM) Call Spread; Terranova Owns (AMGN) & (AMGN) Puts; Macke Owns (MS), (TM), (SDS), (AAPL); Finerman's Firm Owns (DNA), (MSFT), (RIG); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (VNO), (BBT); Finerman's Firm Owns (WFC) Preferred, (BAC) Preferred
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