Santelli's now infamous "rant" on CNBC keeps getting attention

On Thursday's "Squawk Box" on CNBC, reporter Rick Santelli made some strong remarks from the floor of the Chicago Board of Trade that quickly caught the attention of bloggers, opinion columnists, journalists and now, even the White House. In the five-minute clip that is now being hailed as "Rant of the Year," Santelli bashed the Obama Administration's new plan to bail out distressed homeowners. Santelli said the government's plan is "promoting bad behavior" when it should "reward the people that carry the water, instead of [the ones who] drink the water." He challenged the computer-savvy Obama team to set up a Web site where the American public can vote on whether they "really want to subsidize the losers' mortgages."

The Santelli "rant" was met with cheers and applause from the traders around him. One trader even added, "How about we all stop paying our mortgage." Santelli then outlined his plans to organize a "Chicago Tea Party" to protest the government's actions. 

The Wall Street Journal reports the video clip, which is becoming hugely popular on the Web, even got reaction from White House spokesman Robert Gibbs Friday, who said Santelli "doesn't know what he's talking about." Gibbs further encouraged Santelli to join him at the White House and read the president's plan. Gibbs offered to buy Santelli "a cup of coffee - decaf." Santelli quickly accepted the invitation while on the air but added, "I do prefer tea." 

To view Santelli's clip click here.