OLD Media Moves

Santelli sets the record straight

March 2, 2009

CNBC reporter Rick Santelli writes Monday on the business news network’s Web site that he has no association with any of the “revolt” movements that have popped up in the aftermath of his Feb. 19 rant against the Obama bailout plan.

He also defended his reporting and commentary style.

Santelli writes, “Anyone who has watched my thousands of appearances on CNBC is well acquainted with my aggressive and impassioned style. Over the next several days CNBC.com will put up some of my other passionate broadcasts of the past.

“Since joining CNBC in 1999 I have not traded the markets in any capacity. As a financial reporter I have never shied away from trying to promote discourse and dialogue of the important issues that affect markets and therefore our lives. The one spot in particular that occurred on February 19th at roughly 8:15 est time and maybe lasted for a minute probably wasn’t even in my top 5 in terms of intensity, energy, or controversy.

“It was unique in that it obviously struck a chord with the public thus inciting what can only be described as a groundswell of feedback from the public, the White House, the Internet, and the media at large. The President’s plan addressing issues in the housing market was the topic; but only the tip of the iceberg in fact.

“The real nerve struck seems to be the pent up emotions felt by millions of Americans regarding spending TRILLIONS of dollars to fix the housing market, the banks, and the economy. SPECIFICALLY WHO WILL PAY….WHO WILL BENEFIT….and above all the governments role in all of this.”

Read more here.

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