Your facts are false.
On February 19, 2009, in a broadcast from the floor of the Chicago Mercantile Exchange, CNBC Business News editor Rick Santelli criticized the government plan to refinance mortgages, which had just been announced the day before. He said that those plans were "promoting bad behavior" by "subsidizing losers' mortgages". He suggested holding a tea party for traders to gather and dump the derivatives in the Chicago River on July 1.[ A number of the floor traders around him cheered on his proposal, to the amusement of the hosts in the studio. Santelli's "rant" became a viral video after being featured on the Drudge Report.