Santelli has been in the world of finance for his entire adult life and probably knows a good bit more about that world then the White House press secretary does.
This episode is another in a string of bad days for the Obama Administration. In spite of his pledging bi-partisanship, he allowed Nancy Pelosi and her crowd in the House to craft the first version of the stimulus package which was then negotiated - in secret - to its final configuration.
Then he had that embarrassing Tom Daschle business. Then there was a disconnect between senior Democrats on whether Bank of American and/or Citigroup and/or Harry's Savings and Loan would have to be nationalized.
The markets are plummeting toward 10 year lows, unemployment shows no signs of abating.
Back to the bad news for the Administration:
Obama had to order 17,000 troops to Afghanistan, his belief in the Power of Nice having lasted about a month into his Presidency; the Iranians are claiming they now have enough enriched uranium to make a bomb and Benjamin Netanyahu, the Likud Party leader who chosen Friday to form Israel's next government has been known as a hard liner when it comes to land-for-peace deals with the Palestinians.
And now, on top of everything else, Obama has irritated John Galt.