You don't have any legitimate reasons to hate Republicans more than Democrats since you let multimillionaires like Pelosi and Soros and Ted Turner and Kerry and the Clintons get away with doing everything you claim you hate Republicans for. You hate people merely to rationalize robbing them no matter what they do or don't do. Nazi Germany did the same bullshit. It started WW2.
Hate. Let's be honest here, that's all you're peddling. That's socialism. Find some group you know is a minority like Jews in Germany or Syria, Ukrainians in the USSR, Armenian Christians in Turkey, Cherokees in Jacksonian Democrat days, and then you start a hate campaign against them no matter what they do or don't do, Republican freed slaves in the South...you always run varients of the same scam.
You socialists are the biggest hypocrites on Earth talking about greed. You're so greedy you want to help poor women to kill their unborn babies so you'll have fewer poor people to pay the welfare benefits you promised to pay them from somebody else's taxes. You want to everybody to give you all our guns and money and then you plan to kill us so you don't have to pay us back.
What we really need to do is have taxpayers check off which political party they want to manage their money and let Democrats manage taxes from Democrats and let Republicans manage taxes from Republicans so everybody gets more control over how their money is spent instead of paying CNN and FOX for political attack ads trying to redistribute money from one bunch rich lawyers to another.
Right, let's not mention your greedy rich Democrat Nancy Pelosi who turned an America with 5% unemployment in 2005 when Bush had a Republican Congress into an America with 10% of us out of work in 2009 when Obama had a Democratic Congress she controlled being richer today. What I hate about you rich Democrats is that all you do is blame Republicans for doing what you do..
So, the President is wrong, and he is giving the bankers too much money? Fine! All Congress has to do it pass a law that demands all the money loaned to the band be paid BACK.
If they really don't believe in the bail out, then end it. Demand the money back.
But of course, as Cenk points out, Republicans aren't going to do that. They started the bail out under Bush, and now publicly don't support them for political expedience. But privately, they are all for it ...or they would end it.
Dumb ass Santelli doesn't understand the simple fact that these asshole were being rewarded for bad behavior. Look at Joe Cassano's golden parachute was $258 Million in cash and another $34M in bonuses after he cost the tax payers $85Billion. Yeah,being bad pays and Rick the Prick is OK with it, I'm not!
So the "Young Turk" is saying that Rick Santelli's claim regarding billions and trillions being more than millions is actually a veiled support for the AIG bonuses, and that what Santelli is most famous for - his "Rant of the Year" against the bailouts - is something he "really didn't mean". Despite everything, he apparently is actually in support of the wealthy broker houses getting bailouts.
And this is supposed to be "crystal clear"? In what way? To who?
This clown is doing exactly what he's accusing Rick Santelli of doing. "Don't pay attention to what this party's doing! They're the good guys. THIS is the evil party! Look here!" My take, as such an evil greedy conservative republican, is this: it isn't the business of the federal government to tell corporations what to do with their money. So if it doesn't like what the corporation is doing, then DON'T GIVE THEM THE TAXPAYERS' FUCKIN MONEY!!! I DIDNT WANT THEM BAILED OUT IN THE FIRST PLACE!!
@TheNodnarb88 Yeah is that why they came begging to the fed govt. for bailout money? Right. "My take, as such an evil greedy conservative republican" --- no, just a stupid one, as being evil and greedy requires cunning and smarts of which you have neither, teatard.
You guys are missing the point. AIG was falling apart. Most of the guys who made big money working for this company already left it and are working for other companies. Some lowere key people who wanted to leave because they got the offers from competitors were asked by AIG to stay EVEN THOUGH the company might disapear from the market very soon. For this risk they were promissed bonuses - RETENTION BONUSES - They were not performance bonuses.
There were also a number of AIG employees who were hired for the purpose of sorting out the mess the scam artists had left. They were hired with salaries of $1 due to the rules of the bailout money. AIG was able to hire them through the bonuses. I believe the politicians KNEW that's how it would work, and had planned to crucify AIG to divert attention from themselves. And yes, Republicans are just as dirty as democrats. TYT is a bunch of shills.
The US Government represents 300 million people. Madoff represetned a few thousand people. To compare them is patently absurd.
Secondly, To pretend that Government programs like SocSec and Medicare suddenly undergo seismic shifts under new administrations is equally absurd.
Our recent Economic collapse took place after years of both dem. and rep. majorities in both houses and control of the white house, so neither side can blame the other side without dragging themselves down as well.
Only a wimp, or a short little guy like Rick, would defend the AIG=FAG bonuses. Maybe Rick should throw some teabags into the bath water of the AIG=FAG execs pedicures.
Yes, I agree, but I also cannot give the AIG=FAG"s a pass. If you give me money to feed myself and I turn around and buy crack instead, don't blame the dope dealer as I was the one who purchased the crack. There is enough hate here to go around for all parties involved. Skank Paulson is the one I hate the most out of this deal as much as i hate the AIG-FAG's.
This is blog is laughable. You're not actually adding anything, you're just trying to personally attack those that add insight.
Of course they gave bonuses - why would any employee from AIG stay at a sinking ship if they hadn't been assured they would still receive bonuses at the end of the year?
The bottom line is the government threw money at the problem without adding any regulation to the allocation of the funds. What a waste.
no, the government is saving the ass of companies whose executives drove the companies into the ground, they don't HAVE to honor anything. You don't reward incompetence, which is what AIG and Citi have done. Its not an issue of contracts, its an issue of them USING TAX MONEY FOR UNEARNED BONUSES.
Madoff should only be the start! Americans want to see all the Wall Street elitists responsible for this mess go away for a very long time. This is the definition of white collar crime. Get a clue! This is not about Obama. This is about holding criminals responsible for taking the world economy down!
This comment has received too many negative votesshow
Gotta love loving in a country where the goverement can just on a whim tax a specific group of people just because of public outrage. There was a stipulation in the bill to limit the contracts but Chris Dodd took it out. If you want to blame someone blame Chris Dodd.
Rick Santelli is a paid stooge. The Domain Name "Chicago Tea Party" was purchased back in August 2008 by multi-billionaire Koch family. You didn't hear these millionaire derivative-trader cruds complain when the banks got their 2 trillion dollar bailout, did you? This "Tea-Party" crap is a Rich-Boy Hoax. If Obama fails, we fail - the Rich will stay Rich.
Santelli ultimately serves the Rich not you or me.
This comment has received too many negative votesshow
Hey TheYoungTurks. Are you saying that you are FOR the socialists in congress spending TRILLIONS of $s that don't even exist!!?? It's FIAT currency...worthless!! or close to it. You seem to be in back pocket of the socialist democrats though I hope I'm wrong...I'm a constitutionalist and the true "liberals" who want "liberation" and freedom from gov. intervention in our lives should be also. Socialism always leads to loss of individual freedom and a heavy oppressive gov. WAKE UP!!
This comment has received too many negative votesshow
Santelli was saying that the outrage was misplaced. There is no shouting over Obama's stimulus plan and that was his whole point. I doubt he likes the bonuses and wants to "protect his buddies".
Fox News says basically the same thing replacing the bonuses with Madoff.
Sure there is waste in government programs but we try to keep the ones where the benefits outweigh the costs. Rick and the rest are saying the spending is not worth the cost. They're being critical and hardly ridiculous.
The definition of Fascism: A Corporate State. Never in the history of the world has there been more of a corporate state then the United States is today!
How do you know those people getting bonuses did not perform their jobs well? AIG have more than 116,000 employees, the few that got the bonuses could be completely blameless.
Not to mention it was in their CONTRACTS which means they could have sued AIG for the money + court cost if they wanted.
We really shouldn't even use the term bonus we should call it "contractually obligated lump pay".
The truth is that this whole thing is a distraction from what is really going on.
Search 'The Obama Deception' and click on the first video. That would be the place to start to understand what exactly is happening and why it is happening.
This comment has received too many negative votesshow
All of this nonsense is EXPECTED when you nationalize a private company. People start wondering what their benefits are and how they can start using the company's swimming pools and golf courses. Where these bonuses would've been private before, they are now drawn from a pool filled with public funds and it changes everything. This is why SOCIALISM does NOT work.
Sure easy to pick on AIG, but how about Barney Franks, Obama hussein, Dodd, all were given AIG money for their cqmpaigns, why does anyone get mad about thta. Get it, the poltiticians allowed the bonuses so they could get theior cut for campaign bonues, how about the billions, and you look at millions, brother.....
watch Alex Jones video Obama Deception, and you may get it
These schmucks don't get the point. If you are taking tax-payer money, because you screwed up, you should not be using OUR money to pad your pockets. I don't care if you did a $200 bonus. You screwed up
What I am thinking about is the billions of dollars in earmarks Obama has passed. Why isn't there a huge outrage against billions of dollars while there there is over millions? Because the public is told what to do by the media.
Btw, Rick Santelli said nothing about the inefficiency of projects. That was a straw-man.
actually both parties support wallstreet as they are given huge donations by them and they support communism as thats were alot of manufacturing jobs are and they support india thats where the tech jobs are its a corput system were the rich are bailed out by the masses ie the middleclass but for how long as the middleclass are losing their jobs by the 100's of thousands while the fed reserve contols all by printing the money and charging interest to the ppl
Santelli sucks money away from us and expects us to be thankfull for it. I would love to get him alone and "talk" some sense into him, he might not live thru it but that would be 1 less parasite in the world to worry about
Santelli is trying to clue in the low wattage bulbs out there about the big picture without being too obvious. He DOES work you know for the Wall Street cheerleading infomercial CNBC.
Santelli was pointing out that there was relatively no public outrage about the 170 BILLION(over 1000 times more than "bonuses") paid to AIG. All this money went to make their counterparties whole on debt insurance policies written by AIG. The real story is the massive transfer of wealth from the US taxpayer to these counterparties that include Citigroup, Goldman Sachs and other US cos. that have alredy recieved "bailout" money.
Santelli has pointed out that much of this $170,000,000,000 has also gone to foriegn institutions like Soiete' Gen, Deutsche Bank, HSBC and others.
Santelli has also said that these bailed out companies should have had the sophistication to examine counterparty risk and realize that AIG had nowhere near the assets to cover in case of default.
It seems "caveat emptor" only applies to the people without financial sophistication.
you are wrong, there is plenty of outrage about the 170 billion, and the 700 billion tarp and the 2.7 trillion fed gift to wall street, Santelli (former? derivative trader), is trying to blame the goverment for having to bailout morons like him for putting the whole worlds economy at risk running their own, maybe, legal ponzi scheme we basically had a loaded gun pointed at our head because these morons were greedy beyond belief, now we are paying the price for their actions
I don't think you understand what Santelli was saying, let alone have a fundamental understanding of what the $170 billion AIG got was used for. Most people don't.
Please reread my posts in order for better understanding. Then, all you need do to figure it out is follow the m-o-n-e-y. All the way. And then you should understand.
People need to be looking at the elephant in the room: those executives got those bonuses because they did their job well. Their job was to bring this country to its knees.
Money keeps mouths shut. Bonus money was hush money.
AiG is way deep into fraudulent derivatives. Billions in public bailout money goes in the front door of AIG and right out the back door to counterparties of these derivatives - to make them whole - mostly banks and financial institutions here and abroad who expect 100% satisfaction! The US taxpayer is taken for a ride. THIS IS THE SCANDAL. The stories that could be told by these paid-off AIG execs would be inconvenient to say the least.
So, Medicare, a program to help the poor with their medical expenses, is the same as a ponzi scheme put into motion by a wall street fat cat to simply fatten up a little more? What kind of Bizzaro World bible do these people read?
"Verily I say, Give a man a fish and he'll eat for a day. Teach a man to fish and he'll eat forever. But steal the fish he caught and charge him an arm and a leg to buy it back and you'll to be a Fox News daring."
Nice to hear from Steve Forbes--a plutocrat prick born with a silver spoon up his ass. I'm sure he has the interests of most Americans foremost in his mind. Steve "flat tax" Forbes believes the graduated income tax is an abomination. I wonder why?
You are a moron. Santelli may be a republican, but . . .
The government is using the AIG bonuses as a smoke screen for the $60 billion in taxpayer money going to European banks and the $12 billion to GS. GS was behind the AIG bailout.
Plus the government just deflated my savings by 5% by ANNOUNCING TO THE WORLD that they are printing $1.2 trillion for yet another bailout. This was intentional and did not have the same impact on you because you don't have much in savings.
Clinton left Bush with a mess. Bush has left Obama a mess. And now Saint Obama OWNS it. Don't whine it's not my fault and do alll the WRONG things! You'll get no sympathy from me. Pay attention sheeple.
By the way, Dem's have been in control of CONgress, supported Bush policies with their cousins the Rep's and are directly responsible for this crisis. Stop being good party members and start thinking.
Google Bush's first budget, it said they were expecting a 5 trillion $ surplus in 10 years, but instead of following pay as you go, Bush made his corporate buddies rich and now we have a official deficit of 10 trillion with the wars and 2.7 trillion the FED gave wall street not included.
So many of you are too caught up with your political attachments. Many of you behave no differently from Nazi Party or Soviet Communist Party members. You tow the line, shout the slogans, demonize those who disagree and basically turn off your brain. You are GOOD PARTY MEMBERS. Shame on you.
You give this current clown parade a break because "it's not their fault.-it's Bush's fault" Nonsense.
Rick Santelli is a pretensions wannabe. He idolizes the people who ran our economy into a wall at warp speed, who made off with massive quantities of money with zero accountability for their actions.
Yall are in an uproar about 165m when the trillions that spent have gone unchecked;
but if you want to talk about Ms:
What about the 128m of tax money on Race Tracks. And yet that does nothing to stabilize the economy.
If yall are gonna get mad about something, spread it around equally. Otherwise, you look like ass-hats picking and choosing how to waste perfectly good money;
I love how Obama says he is dissapointed with the bonuses and put his name on the bill fully aware of them, can I have another glass of doublespeak please?
Please Rick, draw me some Ms, Bs and Ts so I can understand why I should not be outraged about bonus compensation for the people who wrecked AIG and threw the economy into a free-fall tailspin. You see, Rick, I'm easily led by demogogues such as yourself. So, if you talk to me like a retarded child, just like Bobby Jindal adressed America, I will understand and think, vote, and act against my own (and most of Americas') self-interest. You'r e the best, Rick! Awesome job-keep up the good work.
How many jobs could be saved by distributed $165,000,000 differently?
Let's give bonuses to those who already have jobs? Bullshit, complete bullshit. There is ZERO compromise in this fucking country. Teachers in school districts are getting laid off while the $200,000 administration and superintendent positions are retained. No one is fucking compromising.
I don't defend the bonuses but if they have contracts then the rule of law applies. If they wanted to ensure they don't get their bonus they ought to have made that clear in writing and therefore protecting it through Law. They didn't do that. His point is true though, when spending hundreds of billions 170million is very small, people should be outraged at the Billions, the bonuses is a red herring to the outrageous spending. I like Obama, he's still a moron with the Economy though.
I think he should have said which should you be more worried about? The 165 million that AIG executive received in bonuses OR the 1.25 TRILLION the FED created yesterday? RON PAUL 2012
So.. Basically his argument is "Yes, we ripped you off but it wasn't even for that much so why are you bitching about it?"
How does that even fly? How does the sitting anchor reply to that with anything other than "You deluded idiot can you even hear your own words? Do you understand what you're saying you pompous loud little windbag?" Why are we compelled by the MSM to keep taking these complete assbags seriously while they call people like Cenk and Jon Stewart elitist extremists or w/e?
Well said, megamarsvin, Ricky Santelli, as poster child for the investment/banking/trading/wall street quarter, just doesn't get it. He does not understand the populist mood in this country brought about by Wall Street itself. Wall Street brought Wall Street down! We are cleaning up the mess. Jobs are disapearing and suffering is increasing, but Santelli just doesn't believe the Wall Street greed culture is over. Too him, it is to continued, this time, even more obviously by tax payer money.
Bush, Obama, Dodd, Geithner et al knew about this retention bonus & nothing was done about it. The only reason they're now OUTRAGED(lol) is bcs the taxpayers are. BTW instead of fighting about the millions WHAT ABOUT THE BILLIONS THAT HAVE BEEN GIVEN TO AIG!!! Big portion of it went to foreign banks & some domestic banks who already recieved BILLIONS in bail outs already from taxpayers. DON'T BE FOOLED by politicians & wallstreet thieves!
Every time I hear some idiot bitch about how much the goverment is spending I ask myself,are these guys complete idiots?Have they never heard of a guy called F.D.Roosevelt?
If you compare this crisis with the one back then,you'll notice a lot of similarities for example the public spending that F.D.R. did and obama is doing at the moment.That spending saved America from a complete collapse of it's industry and if Hoover had won, he would have continued his policies and bankrupted the US.
You need to study the great depression a little more thoroughly. Both Hoover and FDR intervened in the economy to such an extent - more so FDR, that they turned a recession into a depression AND extended it. The economic collapse accelerated when FDR raised taxes to the ceiling. Gov spending did NOT "save" the US. FDR destroyed industries, jobs and capital. WWII finally goosed the economy and saved FDR's rep. FDR was a FRIEND of banks and ruined our economy.
Than how do explain the sudden increase of industrial production in 1933?
And that unemployment went back by 4.7% in 1934?This could not have happend only because Hitler came to power in germany and by the way hoover was a big fan of regulation and volunteerism but when it came to the great depression he just didn't do enough.
The economy started recovering? Is that why people were starving for another 8 years after those programs? FDR's solution to people starving was to slaughter livestock, burn crops, pour milk down the drain, and take everyone's gold.
And what do you think would have happend if hoover had won the election?
Im not saying the guy was a saint and everything he did was right,Im just saying that he was the better one.Everywhere around the world recovery was slow,except for germany but they recovered so fast because they had a crazy guy who started a massive build up of arms.
One thing you might want to think about is how debt and inflation are involved in calculating GDP. This is one reason today so many people were misled. Also realize that FDR confiscated and criminalized constitutional ownership of gold money. This facilitated inflation of the currency and economy. Kind of like the Bush/Greenspan goosing of money/housing = NO REAL wealth creation.
Firstly, I didnt say anything about the GDP I merely mentioned that industrial production went up and unemployment figures fell.Secondly,there was a deflation spiral before the 1930's so inflation was pretty handy for fighting it.
I wish i could have only 100,000$ in the bank and have my same job, hell, i would be happy with just 25,000 dolars in the bank just for security if something goes terible wrong in my life, which in this economy, i wouldnt doubt it. And tsome guys are pocketing 165,000,000$ for running the economy into the ground. seriously wtf, they are already all millionaires and have more money than they will EVER need. WHY MUST THEY WRECK THE ECONOMY SO THEY HAVE MONEY THEY DONT NEED..... seriously wtf
All i have to say, is what a bunch of F***in greedy bastards, as that idiot said who was defending the bonuses " its only 16 and a half cents, Do you know what i would do for just 1/10th of one of those cents? ITS alot of money... About 90% of the american wealth is in the hands of about 1% of the american population. WHY THE HELL do people need that much money...
Go back and watch these people's reaction to nearly identical situations that were happening when Bush was still in charge. They blame the businesses and say Bush is doing his best to help.
Now that there's a Liberal/Democrat in chrage, it's all the government's fault.
Fox news, CNBC etc are all idiotic. But don't let that stop you from thinking.
This collapse IS indeed the government's fault. The self-dealing, corruption, theft etc has been encouraged and even sanctioned by CONgress - Dem's & Rep's! Moral hazards run wild. They just put nice sounding titles on things. Bottom line is they want to control you and have your money - to spend themselves back into office. But don't listen to me. Figure it out for yourself. Meanwhile continue chasing those dreams.
Rick Santelli I'm behind you 100%. I want you to keep telling us like it is. Your station may be trying to quiet you and other media twisting your words, but we can hear the truth! Wake up CNBC aren't you tarnishing your reputation by letting your network be controlled by a political agenda? Rise above CNBC do the right thing! Support Rick E-mail CNBC and tell them Let Rick speak! Freedom of the press, Freedom of speech!
I agree with the selfish-pig, itsoktoask. Like any other f-ing Republican who just screwed the country completely these last eight years, I say, F.U. Im taking my money now. Who cares if I dont deserve it? I had my buddies write the AIG Bonuses Package so that, ha, Ill even get paid millions WHEN I FAILED. Bah-ha-ha-ha. Screw the middle-class workers and screw those losing their homes and jobs, Im a Republican. My name is itsoktoaskaquestion! F.U.
He's not defending anything. Where did he say "I think everyone at AIG should have gotten their bonus"? HE DOESN'T.
He's saying that if people are mad at 165 million, maybe they should be angry as hell at the 3 trillion debt that Obama will waste in just 2 years. But of course nobody can ever criticize the Great O, so Turk here decides to lie and smear Santelli instead of talking about the real, much bigger, issue.
so let me guess the great O came in office and was literally handed a ticking time bomb...now he's doing the best he can to solve a very complicated problem while being critizie by benchwarmers, who til this very haven't came up with an alternative and you wanna critize him and forget about what bush has done the last 8 yrs
is it me or the gopers have finally lost it, do us all a favor take texas, new orleans, mississippi, alabama, and succeed hell we'll throw in Alaska and just go away
Rick Santelli had a valid point. You sound like you just dont like him. 160 odd Million sounds like a lot of money, but he is saying that the American taxpayers have not fully grasped what a billion and a trillion is, if they did, then they would be going mental about all the other bailouts.
The accelerating frequency of crisis is a symptom of the failure of unredeemable fiat currency and socialism (gov intrusion into the markets and general fucking up of price discovery and risk). The side shows the media likes to herd you with are symptoms and distractions. Every "us vs them" ie Liberal vs conservative, rich vs poor conflict is a CONTRIVED DISTRACTION that keeps you blind to the real threat of collectivism that has already nearly got you by the balls.
How many of you realize we have NOT had "free market capitalism" for nearly a century. Since 1913, when we got the Fed and the IRS thugacrats, we've had a steadily growing socialist fascist state. We all get poorer and more dependent on the state. Gov gets bigger, more intrusive and more arrogant. A protected few at the top that milk the rest at the bottom. This is the road we're on.
Has Saint Obama revoked the Patriot Act? or any of the countless measures that have destoyed our liberties? Are we leaving Iraq soon? Are we taking back monetary power from the Fed? He has in fact appointed the same old hacks that got us into this mess. Anyone who voted in this last election doesn't get it. We were handed two "approved" lackeys to serve the money powers. Neither is competent nor willing to change anything. You just gave a "mandate" to an economic illiterate.
The last president to challenge the money powers was Kennedy. They stopped him. No president since has challenged the powers. They all WORK for the money that put them in office.
These comments remind me of a mob - unthinking and easily herded. The people here are either incredibly stupid - or they are working for the people on the receiving end of the trillions in bail out money. Viciously attacking anyone with guts to stand up and point in the correct direction.
By the way, Rick Santelli is at CBOT in CHICAGO. His buddies aren't on Wall Street. They're like, you know, 1200 miles apart.
Get a clue, people. Santelli thinks the AIG crowd should get 0. That's ZERO. They should get bagel-ed -- nada. Notice how the other clueless CNBC punks get uncomfortable when Rick starts talking. It's because he's on YOUR side.
Do you think the executives at AIG care what you are saying? they just got millions in FREE bonus money...you could spit in their face and they will pay someone to wipe it off with a cashmere hankerchief. To them you are just a lowly peasant that is only around to pay them. Right now they are on their yachts and headed to Bora Bora and you are headed to bed because you have to work like a bitch tomorrow so they can steal more of your money. Its that simple.
Like I said above, you people are really missing the point. AIG bonuses are a DISTRACTION. The real crime is the TRILLIONS of dollars going out the back door of AIG (and Citi and BOA and Wells...). This money just goes right out to Goldman Sachs, SocGen, JPMorgan and other losers who don't deserve their money.
These crooks and their congressional enablers just LOVE that you're worked up about Santelli and piddly bonuses. Do some research on this.
I understand all too well. Watch "Obama Deception". I have been informed about government(FED) antics for years now , and people used to think I was insane to think government would ever hurt its own people...but now they have come to realize that its all true. Sadly most people will not take the action needed to stop these robber barons!
Cenk, if you really want to understand this whol bailout issue, send me a message. I will walk you through it. I just can't believe that you liberals are being tricked into attacking Rick Santelli while the banksters are making off with TRILLIONS [ that's with a "T" for you simpletons ;-) ] of OUR dollars. Do you want the truth or do you want to pretend this is all about Republicans and Democrats?
Cenk, you are SO clueless. Rick Santelli is talking about the BILLIONS that AIG's counterparties, bondholders and derivatives contract holders are getting. And about the TRILLIONS that this mess has already cost us. Rick Santelli is on OUR side. You are so clueless it makes me want to cry. Get a f-ing clue, Cenk. Obama VOTED for these TRILLIONS, just like McCain did. Rick Santelli is a stand-up guy IMHO.
Okay...the CEO of AIG is trying to get the executives to payback 50% of their bonuses. 50%?!!!!! We the taxpayers now own 80% of AIG. They should be paying back at least....at least 80% of their bonuses back. In my opinion, everything.
Politicians that support the new financial system regulations on all companies in america (G20 apr2) are trying thier hardest to make sure AIG fails so they can get aproval ratings and a free path to putting in the new system without any resistance from the outraged public. This bonus bashing is forcing the AIG people to walk, before the company can pay us back causing sure failure. Call up your congressman and tell them "How dare you put our 80 billion tax dollars at risk over 160 mil bonuses.
Who cares what Santelli think? AIG management should only be given a bonus if AIG had made a profit for the company on their own merit and not that of the taxpayers' money. Someone has to go to jail for this corruption. Time to sniff out all those corrupted politicians and businessmen who think people are stupid and gullible. Who has read the contracts? We need to see each one of them. Sniff out those corrupted politicians who has something to gain. Perhaps they want to protect their shares.
The Government owns these fucks, and the problem with Wall Street is that they know that their days of doing whatever the fuck they want is coming to an end.
it is nothing but disgusting to even try to defend these bonuses!! this guy is a total jerk, and i'll tell u what he's not on our side , the average american
Rick Santelli isnt a republic he just happens to be a selfish greedy guy on wall streets, who has his head up his ars. the republicans just happen to support greedy wall streets exec.....so thats just a coincidence
Lol! Did that Quentin guy just honestly say that we're in a "depression"?? Ook. Give this guy an econ. lesson, willya? Before he goes on the air.
As for Santelli, I kind of see his point. We need to put this in perspective. AIG got $170 Billion, but they only spent $165 Million in bonuses. That's less than 1%, if I did my math right. We should be so grateful! Just imagine if they had given ALL $170 Billion in bonuses!
The amount in the bonuses really is "16 1/2 cents."
Wow. Why do people defend government? when have they been your friend? you guys deserve the doom coming to this country.
Bankers, Government, neither are your friend. Santelli's just making a point that you're blowing up an issue on 'principle' when if you really had any 'principle' you wouldnt defend all the money that government, both Bush and Obama, has wasted, of OURS, on this mess. let the free markets work. Communists.
i remember all these same people crying about the government wasting their money to fight in Iraq.
oh wait thats right, they didnt say anything. they became overnight watchdogs against waste the day obama was sworn in and tried to do what economists advised.
ordinarily i say let companies waste all the money they like. i would imagine the behavior would self-correct after a few of them fail.
however, if the US gov't is a large stockholder in a company id want them to use their leverage to eliminate this kind of waste, otherwise people will just walk off with your money.
no, i say the bonuses are crazy. some shmuck doesnt like his base pay at his failing company, he can take a hike.
I think we should stop complicating the situation when it's really simple - the U.S. government is robbing its citizens. Is that so hard to figure out or accept? The money being collected in taxes isn't being used to serve it's citizens, and it's being handed over to corporate interests by Bush and Obama.
You're being robbed, and there's nothing you can do about it.
I love everyone on Fox News just ignores the guy who tries to be reasonable and say that a govt program is not a criminal enterprise by just continuing with the Obama's Ponzi Scheme bullshit. Obama's "Ponzi Scheme" is TRANSPARENT. WE CAN TRACK THE MONEY AND WHERE ITS GOING, DOUCHEBAG!!!!!
Did Fucktelli use the phrase "order of magnitude" when discussing subsidizing loser's mortgages? No, of course not. I don't necessarily want him to die a painful death, but I think if he fell on a fencepost and suffered an inadvertant rectal invasion, I wouldn't necessarily cry.
It's a spiritual crisis in the Republican Party. They have had their entire worldview crash down around them and are drowning in the cesspool of their false ideology. Is it any surprise that they are going 100% negative, trying to destroy everything around them?
What we really might look at is whether or not this is just a "clown show" meant to obscure the order of magnitude of the general rip off using the massively convoluted AIG. The "big deal" is that AIG shunted moneys to the rich in orders of magnitude that are like to be 10,000 times greater than what congress is presently squawking and waving their arms about. "Much outrage" is misplaced and displaced to continue the big crime, Guess what? Congress secretly sides with the super rich.
They should be allowed to keep the money just long enough to give it back before they are sent to force labor camp to slog around in overly hot, muddy, oily, disgusting conditions where they have to toil for their very lives. Then they will be allowed to live in poverty. Just like me when i was growing up in '60s USA. Right now they just want to sit around in the lap of luxury while "other people" do the disgusting jobs.
Obama and Bush are both guilty of lining the pockets of the Banks. Notice that the everyday person who got cheated by the banks just got a boot to the face.
The BIG CRIME in progress continues with eyes averted - a mega wealth transfer of TRILLIONS from the public to the fascist cleptocracy. The government has NOTHING but YOUR money and a printing press to devalue what you manage to keep. Our nation is being pillaged by an arrogant elite and their gov errand boys. Obama has neglected every opportunity to change course. He's a tool. Wake up people. You think Madoff operated alone?
You are missing Santelli's message. He's not excusing anyone - except for the prudent and honest who are PAYING to make whole the dishonest, imprudent and incompetent. He's saying that the justified outrage is being LIMITED to a RELATIVELY small and insignificant group. The big fish are being ignored.
You don't have any legitimate reasons to hate Republicans more than Democrats since you let multimillionaires like Pelosi and Soros and Ted Turner and Kerry and the Clintons get away with doing everything you claim you hate Republicans for. You hate people merely to rationalize robbing them no matter what they do or don't do. Nazi Germany did the same bullshit. It started WW2.
Texasjim2007 7 months ago
Hate. Let's be honest here, that's all you're peddling. That's socialism. Find some group you know is a minority like Jews in Germany or Syria, Ukrainians in the USSR, Armenian Christians in Turkey, Cherokees in Jacksonian Democrat days, and then you start a hate campaign against them no matter what they do or don't do, Republican freed slaves in the South...you always run varients of the same scam.
Texasjim2007 7 months ago
You socialists are the biggest hypocrites on Earth talking about greed. You're so greedy you want to help poor women to kill their unborn babies so you'll have fewer poor people to pay the welfare benefits you promised to pay them from somebody else's taxes. You want to everybody to give you all our guns and money and then you plan to kill us so you don't have to pay us back.
Texasjim2007 7 months ago
What we really need to do is have taxpayers check off which political party they want to manage their money and let Democrats manage taxes from Democrats and let Republicans manage taxes from Republicans so everybody gets more control over how their money is spent instead of paying CNN and FOX for political attack ads trying to redistribute money from one bunch rich lawyers to another.
Texasjim2007 7 months ago
Right, let's not mention your greedy rich Democrat Nancy Pelosi who turned an America with 5% unemployment in 2005 when Bush had a Republican Congress into an America with 10% of us out of work in 2009 when Obama had a Democratic Congress she controlled being richer today. What I hate about you rich Democrats is that all you do is blame Republicans for doing what you do..
Texasjim2007 7 months ago
So, the President is wrong, and he is giving the bankers too much money? Fine! All Congress has to do it pass a law that demands all the money loaned to the band be paid BACK.
If they really don't believe in the bail out, then end it. Demand the money back.
But of course, as Cenk points out, Republicans aren't going to do that. They started the bail out under Bush, and now publicly don't support them for political expedience. But privately, they are all for it ...or they would end it.
blueboyblue 10 months ago
Rick Santelli Retard
dreamermex1 1 year ago
Comparing the american goverment to an ongoing criminal enterprise is... about as accurate a definition as you're going to get.
tvdownloads 1 year ago
Dumb ass Santelli doesn't understand the simple fact that these asshole were being rewarded for bad behavior. Look at Joe Cassano's golden parachute was $258 Million in cash and another $34M in bonuses after he cost the tax payers $85Billion. Yeah,being bad pays and Rick the Prick is OK with it, I'm not!
beachnative420 1 year ago
So the "Young Turk" is saying that Rick Santelli's claim regarding billions and trillions being more than millions is actually a veiled support for the AIG bonuses, and that what Santelli is most famous for - his "Rant of the Year" against the bailouts - is something he "really didn't mean". Despite everything, he apparently is actually in support of the wealthy broker houses getting bailouts.
And this is supposed to be "crystal clear"? In what way? To who?
DrCruel 1 year ago
This clown is doing exactly what he's accusing Rick Santelli of doing. "Don't pay attention to what this party's doing! They're the good guys. THIS is the evil party! Look here!" My take, as such an evil greedy conservative republican, is this: it isn't the business of the federal government to tell corporations what to do with their money. So if it doesn't like what the corporation is doing, then DON'T GIVE THEM THE TAXPAYERS' FUCKIN MONEY!!! I DIDNT WANT THEM BAILED OUT IN THE FIRST PLACE!!
TheNodnarb88 2 years ago 9
This has been flagged as spam show
@TheNodnarb88 Yeah is that why they came begging to the fed govt. for bailout money? Right. "My take, as such an evil greedy conservative republican" --- no, just a stupid one, as being evil and greedy requires cunning and smarts of which you have neither, teatard.
rakrobn 1 year ago
Ignore the propoganda of the bonuses, its a diversion from the real issue
StrikeEngine 2 years ago 2
You guys are missing the point. AIG was falling apart. Most of the guys who made big money working for this company already left it and are working for other companies. Some lowere key people who wanted to leave because they got the offers from competitors were asked by AIG to stay EVEN THOUGH the company might disapear from the market very soon. For this risk they were promissed bonuses - RETENTION BONUSES - They were not performance bonuses.
horizon5050 2 years ago
There were also a number of AIG employees who were hired for the purpose of sorting out the mess the scam artists had left. They were hired with salaries of $1 due to the rules of the bailout money. AIG was able to hire them through the bonuses. I believe the politicians KNEW that's how it would work, and had planned to crucify AIG to divert attention from themselves. And yes, Republicans are just as dirty as democrats. TYT is a bunch of shills.
urb0123 2 years ago
rick is a idiot
silverbird58 2 years ago
The US Government represents 300 million people. Madoff represetned a few thousand people. To compare them is patently absurd.
Secondly, To pretend that Government programs like SocSec and Medicare suddenly undergo seismic shifts under new administrations is equally absurd.
Our recent Economic collapse took place after years of both dem. and rep. majorities in both houses and control of the white house, so neither side can blame the other side without dragging themselves down as well.
nonsuchfabio 2 years ago
If AIG filed chapter 11, they would not have recieved the bonuses
banklady25 2 years ago
Only a wimp, or a short little guy like Rick, would defend the AIG=FAG bonuses. Maybe Rick should throw some teabags into the bath water of the AIG=FAG execs pedicures.
ChicagoJoe57 2 years ago
Maybe the govenment shouldn't give money to people who make bad decisions.
banklady25 2 years ago
Yes, I agree, but I also cannot give the AIG=FAG"s a pass. If you give me money to feed myself and I turn around and buy crack instead, don't blame the dope dealer as I was the one who purchased the crack. There is enough hate here to go around for all parties involved. Skank Paulson is the one I hate the most out of this deal as much as i hate the AIG-FAG's.
ChicagoJoe57 2 years ago
This is blog is laughable. You're not actually adding anything, you're just trying to personally attack those that add insight.
Of course they gave bonuses - why would any employee from AIG stay at a sinking ship if they hadn't been assured they would still receive bonuses at the end of the year?
The bottom line is the government threw money at the problem without adding any regulation to the allocation of the funds. What a waste.
THEECF 2 years ago 2
heard
Jmfurcron42 2 years ago
Comment removed
columbus63 2 years ago
no, the government is saving the ass of companies whose executives drove the companies into the ground, they don't HAVE to honor anything. You don't reward incompetence, which is what AIG and Citi have done. Its not an issue of contracts, its an issue of them USING TAX MONEY FOR UNEARNED BONUSES.
MagnesDrachen13 2 years ago
The anger should be directed to government officals who gave AIG money?
banklady25 2 years ago
In other words, Rick Santelli supports domestic terrorism?
CovertTruth 2 years ago 3
This comment has received too many negative votes show
DemocratsSuck!
ACORNSUCKS 2 years ago
Madoff should only be the start! Americans want to see all the Wall Street elitists responsible for this mess go away for a very long time. This is the definition of white collar crime. Get a clue! This is not about Obama. This is about holding criminals responsible for taking the world economy down!
DonW21G 2 years ago
Don't delude yourself. It's about Obama not forcing prosecutions. Bush, Clinton, Bush, Obama all bought and paid for!
bwhite53 2 years ago
This comment has received too many negative votes show
Gotta love loving in a country where the goverement can just on a whim tax a specific group of people just because of public outrage. There was a stipulation in the bill to limit the contracts but Chris Dodd took it out. If you want to blame someone blame Chris Dodd.
jerthemessiah 2 years ago
This comment has received too many negative votes show
more garbage from a garbage channel
albundyphd 2 years ago
Rick Santelli is a paid stooge. The Domain Name "Chicago Tea Party" was purchased back in August 2008 by multi-billionaire Koch family. You didn't hear these millionaire derivative-trader cruds complain when the banks got their 2 trillion dollar bailout, did you? This "Tea-Party" crap is a Rich-Boy Hoax. If Obama fails, we fail - the Rich will stay Rich.
Santelli ultimately serves the Rich not you or me.
rs6ted 2 years ago 8
This comment has received too many negative votes show
If Obama succeeds, this country will be eurotrash at best, North Korea at worst
jjrglobal 2 years ago
Oh yeah, because the world is filled with examples of countries that have failed because they:
1. Have public healthcare
2. Open to negotiation in wars.
CmdrTobs 2 years ago
This comment has received too many negative votes show
the government is evil
Guitarlicks4free 2 years ago
This comment has received too many negative votes show
Hey TheYoungTurks. Are you saying that you are FOR the socialists in congress spending TRILLIONS of $s that don't even exist!!?? It's FIAT currency...worthless!! or close to it. You seem to be in back pocket of the socialist democrats though I hope I'm wrong...I'm a constitutionalist and the true "liberals" who want "liberation" and freedom from gov. intervention in our lives should be also. Socialism always leads to loss of individual freedom and a heavy oppressive gov. WAKE UP!!
manofreedom 2 years ago
This comment has received too many negative votes show
Santelli was saying that the outrage was misplaced. There is no shouting over Obama's stimulus plan and that was his whole point. I doubt he likes the bonuses and wants to "protect his buddies".
Fox News says basically the same thing replacing the bonuses with Madoff.
Sure there is waste in government programs but we try to keep the ones where the benefits outweigh the costs. Rick and the rest are saying the spending is not worth the cost. They're being critical and hardly ridiculous.
dmaergh 2 years ago
The definition of Fascism: A Corporate State. Never in the history of the world has there been more of a corporate state then the United States is today!
70road 2 years ago
The wealthy are freaking out cause they are going to have to pay higher taxes. You cannot squeeze any more money out of the poor and middle class.
drsuperhero 2 years ago 4
These guys did not perform they should not get paid. Period. Line staff do not get paid if they do not perform they get FREAKING FIRED.
drsuperhero 2 years ago
How do you know those people getting bonuses did not perform their jobs well? AIG have more than 116,000 employees, the few that got the bonuses could be completely blameless.
Not to mention it was in their CONTRACTS which means they could have sued AIG for the money + court cost if they wanted.
We really shouldn't even use the term bonus we should call it "contractually obligated lump pay".
link10909 2 years ago
The truth is that this whole thing is a distraction from what is really going on.
Search 'The Obama Deception' and click on the first video. That would be the place to start to understand what exactly is happening and why it is happening.
kristofori 2 years ago
This comment has received too many negative votes show
All of this nonsense is EXPECTED when you nationalize a private company. People start wondering what their benefits are and how they can start using the company's swimming pools and golf courses. Where these bonuses would've been private before, they are now drawn from a pool filled with public funds and it changes everything. This is why SOCIALISM does NOT work.
kristofori 2 years ago
Santelli is a fuck joke like CNBC.
carboy101 2 years ago
Sure easy to pick on AIG, but how about Barney Franks, Obama hussein, Dodd, all were given AIG money for their cqmpaigns, why does anyone get mad about thta. Get it, the poltiticians allowed the bonuses so they could get theior cut for campaign bonues, how about the billions, and you look at millions, brother.....
watch Alex Jones video Obama Deception, and you may get it
AdolftheMan 2 years ago
Santelli needs a level-five asswhoopin!
strateshootah 2 years ago
These schmucks don't get the point. If you are taking tax-payer money, because you screwed up, you should not be using OUR money to pad your pockets. I don't care if you did a $200 bonus. You screwed up
bluesboy25000 2 years ago
thank you
Jonisdaman 2 years ago
What I am thinking about is the billions of dollars in earmarks Obama has passed. Why isn't there a huge outrage against billions of dollars while there there is over millions? Because the public is told what to do by the media.
Btw, Rick Santelli said nothing about the inefficiency of projects. That was a straw-man.
owchywawa 2 years ago
actually both parties support wallstreet as they are given huge donations by them and they support communism as thats were alot of manufacturing jobs are and they support india thats where the tech jobs are its a corput system were the rich are bailed out by the masses ie the middleclass but for how long as the middleclass are losing their jobs by the 100's of thousands while the fed reserve contols all by printing the money and charging interest to the ppl
bam6956 2 years ago
good points, sadly they are true too.
lisabob22 2 years ago
"Hu-WHA?" - attr. to H Farnsworth, c.3000
Fred13B 2 years ago
santelli sucks
panleh75 2 years ago
Santelli sucks money away from us and expects us to be thankfull for it. I would love to get him alone and "talk" some sense into him, he might not live thru it but that would be 1 less parasite in the world to worry about
lisabob22 2 years ago 3
Santelli and Cramer are mates
panleh75 2 years ago
Santelli is trying to clue in the low wattage bulbs out there about the big picture without being too obvious. He DOES work you know for the Wall Street cheerleading infomercial CNBC.
Jyoyo1 2 years ago
Cenk, You are wrong on Santelli.
Santelli was pointing out that there was relatively no public outrage about the 170 BILLION(over 1000 times more than "bonuses") paid to AIG. All this money went to make their counterparties whole on debt insurance policies written by AIG. The real story is the massive transfer of wealth from the US taxpayer to these counterparties that include Citigroup, Goldman Sachs and other US cos. that have alredy recieved "bailout" money.
judoyodan 2 years ago
Santelli has pointed out that much of this $170,000,000,000 has also gone to foriegn institutions like Soiete' Gen, Deutsche Bank, HSBC and others.
Santelli has also said that these bailed out companies should have had the sophistication to examine counterparty risk and realize that AIG had nowhere near the assets to cover in case of default.
It seems "caveat emptor" only applies to the people without financial sophistication.
judoyodan 2 years ago
you are wrong, there is plenty of outrage about the 170 billion, and the 700 billion tarp and the 2.7 trillion fed gift to wall street, Santelli (former? derivative trader), is trying to blame the goverment for having to bailout morons like him for putting the whole worlds economy at risk running their own, maybe, legal ponzi scheme we basically had a loaded gun pointed at our head because these morons were greedy beyond belief, now we are paying the price for their actions
lisabob22 2 years ago
lisabob22,
I don't think you understand what Santelli was saying, let alone have a fundamental understanding of what the $170 billion AIG got was used for. Most people don't.
Please reread my posts in order for better understanding. Then, all you need do to figure it out is follow the m-o-n-e-y. All the way. And then you should understand.
judoyodan 2 years ago
People need to be looking at the elephant in the room: those executives got those bonuses because they did their job well. Their job was to bring this country to its knees.
MartinGist 2 years ago 2
Money keeps mouths shut. Bonus money was hush money.
AiG is way deep into fraudulent derivatives. Billions in public bailout money goes in the front door of AIG and right out the back door to counterparties of these derivatives - to make them whole - mostly banks and financial institutions here and abroad who expect 100% satisfaction! The US taxpayer is taken for a ride. THIS IS THE SCANDAL. The stories that could be told by these paid-off AIG execs would be inconvenient to say the least.
Jyoyo1 2 years ago
To the Gee Oh Pee, providing life support for poor citizens is waste by definition. In their world view, the poor are waste.
MartinGist 2 years ago
So, Medicare, a program to help the poor with their medical expenses, is the same as a ponzi scheme put into motion by a wall street fat cat to simply fatten up a little more? What kind of Bizzaro World bible do these people read?
"Verily I say, Give a man a fish and he'll eat for a day. Teach a man to fish and he'll eat forever. But steal the fish he caught and charge him an arm and a leg to buy it back and you'll to be a Fox News daring."
quinn2469 2 years ago
Amazing ... these loyal americans call their OWN president (of 3 months) a scam artist running a ponzi scheme - wow
afrosaxxon 2 years ago
Nice to hear from Steve Forbes--a plutocrat prick born with a silver spoon up his ass. I'm sure he has the interests of most Americans foremost in his mind. Steve "flat tax" Forbes believes the graduated income tax is an abomination. I wonder why?
somersetdc 2 years ago
Santelli--ugly whiny voice, ugly rat face, ugly attitude towards anyone who isn't in his country club ecconomic class. Can he either shut up or die?
somersetdc 2 years ago
You are a moron. Santelli may be a republican, but . . .
The government is using the AIG bonuses as a smoke screen for the $60 billion in taxpayer money going to European banks and the $12 billion to GS. GS was behind the AIG bailout.
Plus the government just deflated my savings by 5% by ANNOUNCING TO THE WORLD that they are printing $1.2 trillion for yet another bailout. This was intentional and did not have the same impact on you because you don't have much in savings.
666sigma 2 years ago
Clinton left Bush with a mess. Bush has left Obama a mess. And now Saint Obama OWNS it. Don't whine it's not my fault and do alll the WRONG things! You'll get no sympathy from me. Pay attention sheeple.
By the way, Dem's have been in control of CONgress, supported Bush policies with their cousins the Rep's and are directly responsible for this crisis. Stop being good party members and start thinking.
Jyoyo1 2 years ago
clinton left bush with a surplus which bush turned into defiecit and added over 5 trillion in debt
bam6956 2 years ago 3
Google Bush's first budget, it said they were expecting a 5 trillion $ surplus in 10 years, but instead of following pay as you go, Bush made his corporate buddies rich and now we have a official deficit of 10 trillion with the wars and 2.7 trillion the FED gave wall street not included.
lisabob22 2 years ago 2
So many of you are too caught up with your political attachments. Many of you behave no differently from Nazi Party or Soviet Communist Party members. You tow the line, shout the slogans, demonize those who disagree and basically turn off your brain. You are GOOD PARTY MEMBERS. Shame on you.
You give this current clown parade a break because "it's not their fault.-it's Bush's fault" Nonsense.
Jyoyo1 2 years ago
Rick Santelli is a pretensions wannabe. He idolizes the people who ran our economy into a wall at warp speed, who made off with massive quantities of money with zero accountability for their actions.
GeneralBolas 2 years ago
i agree with Rick; Here's why:
Yall are in an uproar about 165m when the trillions that spent have gone unchecked;
but if you want to talk about Ms:
What about the 128m of tax money on Race Tracks. And yet that does nothing to stabilize the economy.
If yall are gonna get mad about something, spread it around equally. Otherwise, you look like ass-hats picking and choosing how to waste perfectly good money;
DevBlazed 2 years ago
First class prick!
afrosaxxon 2 years ago
I, like Rick, am against all the bailouts; But since we havn't stopped DC from spending: we can at least channel our outrage more intelligently.
DevBlazed 2 years ago
Cool ... against bail-outs but supports the bonuses that result from bailouts? I didn't get that
afrosaxxon 2 years ago
Rick believes:
1 million for a Wall Street Exec - NO PROBLEM.
1 thousand for a home owner -- BIG DEAL!
DillonX 2 years ago
Somebody Hang this Bastard with his shoe laces....yeah and his Tie....Crooked Wall Street Jerk Off!
deltaalpha21074 2 years ago
I love how Obama says he is dissapointed with the bonuses and put his name on the bill fully aware of them, can I have another glass of doublespeak please?
flyingtorpedo 2 years ago
M to B? Mc Donalds to Burger King?
OH! it makes sense!
geminielf7 2 years ago
Please Rick, draw me some Ms, Bs and Ts so I can understand why I should not be outraged about bonus compensation for the people who wrecked AIG and threw the economy into a free-fall tailspin. You see, Rick, I'm easily led by demogogues such as yourself. So, if you talk to me like a retarded child, just like Bobby Jindal adressed America, I will understand and think, vote, and act against my own (and most of Americas') self-interest. You'r e the best, Rick! Awesome job-keep up the good work.
somersetdc 2 years ago
How many jobs could be saved by distributed $165,000,000 differently?
Let's give bonuses to those who already have jobs? Bullshit, complete bullshit. There is ZERO compromise in this fucking country. Teachers in school districts are getting laid off while the $200,000 administration and superintendent positions are retained. No one is fucking compromising.
porterwake 2 years ago
I don't defend the bonuses but if they have contracts then the rule of law applies. If they wanted to ensure they don't get their bonus they ought to have made that clear in writing and therefore protecting it through Law. They didn't do that. His point is true though, when spending hundreds of billions 170million is very small, people should be outraged at the Billions, the bonuses is a red herring to the outrageous spending. I like Obama, he's still a moron with the Economy though.
JRuni0r 2 years ago
I think he should have said which should you be more worried about? The 165 million that AIG executive received in bonuses OR the 1.25 TRILLION the FED created yesterday? RON PAUL 2012
malibuhur12 2 years ago 2
So.. Basically his argument is "Yes, we ripped you off but it wasn't even for that much so why are you bitching about it?"
How does that even fly? How does the sitting anchor reply to that with anything other than "You deluded idiot can you even hear your own words? Do you understand what you're saying you pompous loud little windbag?" Why are we compelled by the MSM to keep taking these complete assbags seriously while they call people like Cenk and Jon Stewart elitist extremists or w/e?
megamarsvin 2 years ago
Well said, megamarsvin, Ricky Santelli, as poster child for the investment/banking/trading/wall street quarter, just doesn't get it. He does not understand the populist mood in this country brought about by Wall Street itself. Wall Street brought Wall Street down! We are cleaning up the mess. Jobs are disapearing and suffering is increasing, but Santelli just doesn't believe the Wall Street greed culture is over. Too him, it is to continued, this time, even more obviously by tax payer money.
somersetdc 2 years ago
This Rick guy is fruit-cakey.
DillonX 2 years ago
Bush, Obama, Dodd, Geithner et al knew about this retention bonus & nothing was done about it. The only reason they're now OUTRAGED(lol) is bcs the taxpayers are. BTW instead of fighting about the millions WHAT ABOUT THE BILLIONS THAT HAVE BEEN GIVEN TO AIG!!! Big portion of it went to foreign banks & some domestic banks who already recieved BILLIONS in bail outs already from taxpayers. DON'T BE FOOLED by politicians & wallstreet thieves!
xianglee1 2 years ago
Every time I hear some idiot bitch about how much the goverment is spending I ask myself,are these guys complete idiots?Have they never heard of a guy called F.D.Roosevelt?
If you compare this crisis with the one back then,you'll notice a lot of similarities for example the public spending that F.D.R. did and obama is doing at the moment.That spending saved America from a complete collapse of it's industry and if Hoover had won, he would have continued his policies and bankrupted the US.
13j07o92 2 years ago
You need to study the great depression a little more thoroughly. Both Hoover and FDR intervened in the economy to such an extent - more so FDR, that they turned a recession into a depression AND extended it. The economic collapse accelerated when FDR raised taxes to the ceiling. Gov spending did NOT "save" the US. FDR destroyed industries, jobs and capital. WWII finally goosed the economy and saved FDR's rep. FDR was a FRIEND of banks and ruined our economy.
Jyoyo1 2 years ago
Than how do explain the sudden increase of industrial production in 1933?
And that unemployment went back by 4.7% in 1934?This could not have happend only because Hitler came to power in germany and by the way hoover was a big fan of regulation and volunteerism but when it came to the great depression he just didn't do enough.
13j07o92 2 years ago
Are you saying the great depression ended in 1934? I hope you don't put too much emphasis on government statistics either - especially today.
Jyoyo1 2 years ago
Im not saying the depression ended 1934,Im just saying that as soon as FDR's new policies came into effect,the economy started recovering.
And if you don't trust statistics than your are just going to make your argument without evidence to back it up?
13j07o92 2 years ago
The economy started recovering? Is that why people were starving for another 8 years after those programs? FDR's solution to people starving was to slaughter livestock, burn crops, pour milk down the drain, and take everyone's gold.
benjleeru 2 years ago
And what do you think would have happend if hoover had won the election?
Im not saying the guy was a saint and everything he did was right,Im just saying that he was the better one.Everywhere around the world recovery was slow,except for germany but they recovered so fast because they had a crazy guy who started a massive build up of arms.
13j07o92 2 years ago
One thing you might want to think about is how debt and inflation are involved in calculating GDP. This is one reason today so many people were misled. Also realize that FDR confiscated and criminalized constitutional ownership of gold money. This facilitated inflation of the currency and economy. Kind of like the Bush/Greenspan goosing of money/housing = NO REAL wealth creation.
Jyoyo1 2 years ago
Firstly, I didnt say anything about the GDP I merely mentioned that industrial production went up and unemployment figures fell.Secondly,there was a deflation spiral before the 1930's so inflation was pretty handy for fighting it.
13j07o92 2 years ago
I wish i could have only 100,000$ in the bank and have my same job, hell, i would be happy with just 25,000 dolars in the bank just for security if something goes terible wrong in my life, which in this economy, i wouldnt doubt it. And tsome guys are pocketing 165,000,000$ for running the economy into the ground. seriously wtf, they are already all millionaires and have more money than they will EVER need. WHY MUST THEY WRECK THE ECONOMY SO THEY HAVE MONEY THEY DONT NEED..... seriously wtf
Iinspir3d 2 years ago 2
All i have to say, is what a bunch of F***in greedy bastards, as that idiot said who was defending the bonuses " its only 16 and a half cents, Do you know what i would do for just 1/10th of one of those cents? ITS alot of money... About 90% of the american wealth is in the hands of about 1% of the american population. WHY THE HELL do people need that much money...
Iinspir3d 2 years ago
I.....but......it.....
I'm speachless.
Go back and watch these people's reaction to nearly identical situations that were happening when Bush was still in charge. They blame the businesses and say Bush is doing his best to help.
Now that there's a Liberal/Democrat in chrage, it's all the government's fault.
Fucking hypocrites.
DashCat9 2 years ago 2
Fox news, CNBC etc are all idiotic. But don't let that stop you from thinking.
This collapse IS indeed the government's fault. The self-dealing, corruption, theft etc has been encouraged and even sanctioned by CONgress - Dem's & Rep's! Moral hazards run wild. They just put nice sounding titles on things. Bottom line is they want to control you and have your money - to spend themselves back into office. But don't listen to me. Figure it out for yourself. Meanwhile continue chasing those dreams.
Jyoyo1 2 years ago
Rick Santelli is a poster child for,"Stupid is as stupid does."
4u2b1ib12 2 years ago
Rick Santelli I'm behind you 100%. I want you to keep telling us like it is. Your station may be trying to quiet you and other media twisting your words, but we can hear the truth! Wake up CNBC aren't you tarnishing your reputation by letting your network be controlled by a political agenda? Rise above CNBC do the right thing! Support Rick E-mail CNBC and tell them Let Rick speak! Freedom of the press, Freedom of speech!
itsoktoaskaquestion 2 years ago
I agree with the selfish-pig, itsoktoask. Like any other f-ing Republican who just screwed the country completely these last eight years, I say, F.U. Im taking my money now. Who cares if I dont deserve it? I had my buddies write the AIG Bonuses Package so that, ha, Ill even get paid millions WHEN I FAILED. Bah-ha-ha-ha. Screw the middle-class workers and screw those losing their homes and jobs, Im a Republican. My name is itsoktoaskaquestion! F.U.
medartist01 2 years ago
He's not defending anything. Where did he say "I think everyone at AIG should have gotten their bonus"? HE DOESN'T.
He's saying that if people are mad at 165 million, maybe they should be angry as hell at the 3 trillion debt that Obama will waste in just 2 years. But of course nobody can ever criticize the Great O, so Turk here decides to lie and smear Santelli instead of talking about the real, much bigger, issue.
Smith36783 2 years ago 2
so let me guess the great O came in office and was literally handed a ticking time bomb...now he's doing the best he can to solve a very complicated problem while being critizie by benchwarmers, who til this very haven't came up with an alternative and you wanna critize him and forget about what bush has done the last 8 yrs
is it me or the gopers have finally lost it, do us all a favor take texas, new orleans, mississippi, alabama, and succeed hell we'll throw in Alaska and just go away
isawitonutube 2 years ago
Rick Santelli had a valid point. You sound like you just dont like him. 160 odd Million sounds like a lot of money, but he is saying that the American taxpayers have not fully grasped what a billion and a trillion is, if they did, then they would be going mental about all the other bailouts.
Kiladrain 2 years ago 3
Right on Cenk. Rick is trying to pull the Rope A Dope.
Blac13 2 years ago
The accelerating frequency of crisis is a symptom of the failure of unredeemable fiat currency and socialism (gov intrusion into the markets and general fucking up of price discovery and risk). The side shows the media likes to herd you with are symptoms and distractions. Every "us vs them" ie Liberal vs conservative, rich vs poor conflict is a CONTRIVED DISTRACTION that keeps you blind to the real threat of collectivism that has already nearly got you by the balls.
Jyoyo1 2 years ago
How many of you realize we have NOT had "free market capitalism" for nearly a century. Since 1913, when we got the Fed and the IRS thugacrats, we've had a steadily growing socialist fascist state. We all get poorer and more dependent on the state. Gov gets bigger, more intrusive and more arrogant. A protected few at the top that milk the rest at the bottom. This is the road we're on.
Jyoyo1 2 years ago
Has Saint Obama revoked the Patriot Act? or any of the countless measures that have destoyed our liberties? Are we leaving Iraq soon? Are we taking back monetary power from the Fed? He has in fact appointed the same old hacks that got us into this mess. Anyone who voted in this last election doesn't get it. We were handed two "approved" lackeys to serve the money powers. Neither is competent nor willing to change anything. You just gave a "mandate" to an economic illiterate.
Jyoyo1 2 years ago
Unfortunately you are right.
carthfhuil 2 years ago 2
The last president to challenge the money powers was Kennedy. They stopped him. No president since has challenged the powers. They all WORK for the money that put them in office.
Jyoyo1 2 years ago
These comments remind me of a mob - unthinking and easily herded. The people here are either incredibly stupid - or they are working for the people on the receiving end of the trillions in bail out money. Viciously attacking anyone with guts to stand up and point in the correct direction.
Jyoyo1 2 years ago
By the way, Rick Santelli is at CBOT in CHICAGO. His buddies aren't on Wall Street. They're like, you know, 1200 miles apart.
Get a clue, people. Santelli thinks the AIG crowd should get 0. That's ZERO. They should get bagel-ed -- nada. Notice how the other clueless CNBC punks get uncomfortable when Rick starts talking. It's because he's on YOUR side.
carthfhuil 2 years ago
Do you think the executives at AIG care what you are saying? they just got millions in FREE bonus money...you could spit in their face and they will pay someone to wipe it off with a cashmere hankerchief. To them you are just a lowly peasant that is only around to pay them. Right now they are on their yachts and headed to Bora Bora and you are headed to bed because you have to work like a bitch tomorrow so they can steal more of your money. Its that simple.
dragojun89 2 years ago
Like I said above, you people are really missing the point. AIG bonuses are a DISTRACTION. The real crime is the TRILLIONS of dollars going out the back door of AIG (and Citi and BOA and Wells...). This money just goes right out to Goldman Sachs, SocGen, JPMorgan and other losers who don't deserve their money.
These crooks and their congressional enablers just LOVE that you're worked up about Santelli and piddly bonuses. Do some research on this.
carthfhuil 2 years ago 3
I understand all too well. Watch "Obama Deception". I have been informed about government(FED) antics for years now , and people used to think I was insane to think government would ever hurt its own people...but now they have come to realize that its all true. Sadly most people will not take the action needed to stop these robber barons!
agenthelios 2 years ago 3
Cenk, if you really want to understand this whol bailout issue, send me a message. I will walk you through it. I just can't believe that you liberals are being tricked into attacking Rick Santelli while the banksters are making off with TRILLIONS [ that's with a "T" for you simpletons ;-) ] of OUR dollars. Do you want the truth or do you want to pretend this is all about Republicans and Democrats?
carthfhuil 2 years ago
Cenk, you are SO clueless. Rick Santelli is talking about the BILLIONS that AIG's counterparties, bondholders and derivatives contract holders are getting. And about the TRILLIONS that this mess has already cost us. Rick Santelli is on OUR side. You are so clueless it makes me want to cry. Get a f-ing clue, Cenk. Obama VOTED for these TRILLIONS, just like McCain did. Rick Santelli is a stand-up guy IMHO.
carthfhuil 2 years ago
Okay...the CEO of AIG is trying to get the executives to payback 50% of their bonuses. 50%?!!!!! We the taxpayers now own 80% of AIG. They should be paying back at least....at least 80% of their bonuses back. In my opinion, everything.
cachemoney44 2 years ago
cach -- right!
Some ppl say, "what about privacy?"
There is NO PRIVACY - we own most of AIG now.
If they don't return the bonus THEY ARE FIRED.
I've operated a # of companies & many ppl believe no 1 could fill their job & do as well -- OFTEN THE REPLACEMENT DOES FAR BETTER!
DillonX 2 years ago
Politicians that support the new financial system regulations on all companies in america (G20 apr2) are trying thier hardest to make sure AIG fails so they can get aproval ratings and a free path to putting in the new system without any resistance from the outraged public. This bonus bashing is forcing the AIG people to walk, before the company can pay us back causing sure failure. Call up your congressman and tell them "How dare you put our 80 billion tax dollars at risk over 160 mil bonuses.
schizoworld 2 years ago
This guy need to kill himself!! Do it on cableT.V.
with a big fuck'en rope and a small chair. Your a big prick! and need to rott in hell ...A TOTAL GRADE A ASSHOLE!
mortician54 2 years ago
Who cares what Santelli think? AIG management should only be given a bonus if AIG had made a profit for the company on their own merit and not that of the taxpayers' money. Someone has to go to jail for this corruption. Time to sniff out all those corrupted politicians and businessmen who think people are stupid and gullible. Who has read the contracts? We need to see each one of them. Sniff out those corrupted politicians who has something to gain. Perhaps they want to protect their shares.
sharingideas 2 years ago
The Government owns these fucks, and the problem with Wall Street is that they know that their days of doing whatever the fuck they want is coming to an end.
BrightWave 2 years ago
Santelli is a dick head. I think he's certified as a dick head... but I dunno I need to check sources.
nnamdi247 2 years ago
BIG DICK HEAD!
mortician54 2 years ago
So what about the flowers and the bees?
tunit20 2 years ago
it is nothing but disgusting to even try to defend these bonuses!! this guy is a total jerk, and i'll tell u what he's not on our side , the average american
Lawlow1978 2 years ago
he didn't defend it.
don't misrepresent his sentiment, which is that the bailout themselves are bad. Getting mad over contract obligations is sheer ignorance.
Spike10111 2 years ago
This guy is a real piece of work, he is a modern version of Marie Antoniete
tico8007 2 years ago
"Magnitude"? What in the world is he talking about? Wow...
NSU224 2 years ago
Why do they hate Obama already?
Their minds are made up... blinkers on.
stuartjamesgemmell 2 years ago
Rick Santelli isnt a republic he just happens to be a selfish greedy guy on wall streets, who has his head up his ars. the republicans just happen to support greedy wall streets exec.....so thats just a coincidence
fsem10 2 years ago
Mill here or mill there aint much hey.....
I would be set for life!
stuartjamesgemmell 2 years ago
Rick Santelli doesnt care if an Executive gets a $20 MILLION DOLLAR BONUS -- even if it's taxpayer money!
But GOD FORBID if a homeowner gets $1,000 help on his mtg from the Government.
DillonX 2 years ago
Steve Forbes is still kickin' around? Well I'll be damned. I thought he died when Corey Haim's grandfather ran him over at the end of Lost Boys.
fishbonebuba 2 years ago 2
Lol! Did that Quentin guy just honestly say that we're in a "depression"?? Ook. Give this guy an econ. lesson, willya? Before he goes on the air.
As for Santelli, I kind of see his point. We need to put this in perspective. AIG got $170 Billion, but they only spent $165 Million in bonuses. That's less than 1%, if I did my math right. We should be so grateful! Just imagine if they had given ALL $170 Billion in bonuses!
The amount in the bonuses really is "16 1/2 cents."
whoo689 2 years ago
wow, what the fuck is he talking about. I haven't heard rambling like that since palin
greenergrass4130 2 years ago 3
Wow. Why do people defend government? when have they been your friend? you guys deserve the doom coming to this country.
Bankers, Government, neither are your friend. Santelli's just making a point that you're blowing up an issue on 'principle' when if you really had any 'principle' you wouldnt defend all the money that government, both Bush and Obama, has wasted, of OURS, on this mess. let the free markets work. Communists.
norcinim 2 years ago 2
I'm impressed Cenk could get anything at all out of the unintelligible bleating from Santelli.
Frackin64 2 years ago 2
They think we the masses mean we the dumbasses...but we are not stupid and we just dont believe because we hear!
WhiteBull 2 years ago
Why do morons think they are clever?
chairde 2 years ago
The question is why Rick Santelli still have a job in TV?
JerezJulio 2 years ago
"still have a job"?...why is he still breathing!
eastwood13 2 years ago
Rick santelli is a cocksucker. kill him.
tom22p 2 years ago 3
The simple idea of logic has been completely lost in the modern media manipulation of the masses...
3dbeing 2 years ago 2
i remember all these same people crying about the government wasting their money to fight in Iraq.
oh wait thats right, they didnt say anything. they became overnight watchdogs against waste the day obama was sworn in and tried to do what economists advised.
underweightHater 2 years ago
i dont get what position u are in. Are u for or against them having bonuses
Facebook289 2 years ago
ordinarily i say let companies waste all the money they like. i would imagine the behavior would self-correct after a few of them fail.
however, if the US gov't is a large stockholder in a company id want them to use their leverage to eliminate this kind of waste, otherwise people will just walk off with your money.
no, i say the bonuses are crazy. some shmuck doesnt like his base pay at his failing company, he can take a hike.
underweightHater 2 years ago 4
I didn't think Chenk was stupid enough to doubletalk within the span of 4 videos. I was wrong.
zzx2847 2 years ago
I wish the gov't would give me a license to kill. I really wish they would.
dustmundo 2 years ago
Fuck Rick Santelli
pretorious700 2 years ago 2
Rick Santelli.
The brave defender of the rich plutocracy.
The enemy of the little guy.
qanazir 2 years ago 7
Rick Santelli says derivatives traders are the "real Americans" and everyone else is just "losers".
Richardgwm 2 years ago 3
Whatever people SOCIAL SECURITY is a pyramid scheme, same shit.
pagekathleen 2 years ago
I think we should stop complicating the situation when it's really simple - the U.S. government is robbing its citizens. Is that so hard to figure out or accept? The money being collected in taxes isn't being used to serve it's citizens, and it's being handed over to corporate interests by Bush and Obama.
You're being robbed, and there's nothing you can do about it.
highwind8124 2 years ago
I love everyone on Fox News just ignores the guy who tries to be reasonable and say that a govt program is not a criminal enterprise by just continuing with the Obama's Ponzi Scheme bullshit. Obama's "Ponzi Scheme" is TRANSPARENT. WE CAN TRACK THE MONEY AND WHERE ITS GOING, DOUCHEBAG!!!!!
eirefrance 2 years ago 3
Did Fucktelli use the phrase "order of magnitude" when discussing subsidizing loser's mortgages? No, of course not. I don't necessarily want him to die a painful death, but I think if he fell on a fencepost and suffered an inadvertant rectal invasion, I wouldn't necessarily cry.
eirefrance 2 years ago 2
It's a spiritual crisis in the Republican Party. They have had their entire worldview crash down around them and are drowning in the cesspool of their false ideology. Is it any surprise that they are going 100% negative, trying to destroy everything around them?
audadvnc 2 years ago 8
What we really might look at is whether or not this is just a "clown show" meant to obscure the order of magnitude of the general rip off using the massively convoluted AIG. The "big deal" is that AIG shunted moneys to the rich in orders of magnitude that are like to be 10,000 times greater than what congress is presently squawking and waving their arms about. "Much outrage" is misplaced and displaced to continue the big crime, Guess what? Congress secretly sides with the super rich.
hypnofan35 2 years ago
They should be allowed to keep the money just long enough to give it back before they are sent to force labor camp to slog around in overly hot, muddy, oily, disgusting conditions where they have to toil for their very lives. Then they will be allowed to live in poverty. Just like me when i was growing up in '60s USA. Right now they just want to sit around in the lap of luxury while "other people" do the disgusting jobs.
hypnofan35 2 years ago 3
There should be a special definintion for status defending dog and pony show. "Congressional clown show" is too general!
hypnofan35 2 years ago
Obama and Bush are both guilty of lining the pockets of the Banks. Notice that the everyday person who got cheated by the banks just got a boot to the face.
darktoadthesticky 2 years ago
The BIG CRIME in progress continues with eyes averted - a mega wealth transfer of TRILLIONS from the public to the fascist cleptocracy. The government has NOTHING but YOUR money and a printing press to devalue what you manage to keep. Our nation is being pillaged by an arrogant elite and their gov errand boys. Obama has neglected every opportunity to change course. He's a tool. Wake up people. You think Madoff operated alone?
Jyoyo1 2 years ago
You are missing Santelli's message. He's not excusing anyone - except for the prudent and honest who are PAYING to make whole the dishonest, imprudent and incompetent. He's saying that the justified outrage is being LIMITED to a RELATIVELY small and insignificant group. The big fish are being ignored.
Jyoyo1 2 years ago
I'm glad someone else watching this video understood Santelli.
syph6 2 years ago
lol I like how Republicans thinks billions "wasted" on free healthcare is like billions stolen by a crook.
giansideros 2 years ago 9
Also, billions on defense spending can never be cut but billions on healthcare is fucking atrocious socialism.