Santelli and Fama on the "Santelli Exchange"

[Kiltacular]

Watch this 4+ minute exchange between Santelli and Fama (I think you'll have to endure a 30 second advertisements before it begins).

 

http://video.cnbc.com/gallery/?video=3000211021&play=1#eyJ2aWQiOiIzMDAwMjExMDIxIiwiZW5jVmlkIjoiU0JzRHZBQjM5clBiWWYydkdPRXVYUT09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdGVzdCBWaWRlbyJdLCJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9

 

At about the 3:45 mark, Fama says "It's not like it was in the old days..." and Santelli interrupts him (beyond annoying).

 

Does anyone know what Fama was likely going to say?  How did it work in "the old days"?

 

You'll have to watch the entire exchange to get the context but the overall gist is that Fama is saying that the Fed's action are not going to be a big deal.

 

It is interesting.

[CorpRaider]

Very interesting.  I wish he would have let him speak instead of trying to testify through him, but Fama handled him pretty well.