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CME distances itself from Obama-bashing reporter

CME Group has just put out a rather strange statement letting us know that it doesn't endorse the views expressed by journalists reporting from its trading floor.

Presumably the move comes after CNBC reporter Rick Santelli used the exchange as a platform to embark on a rant lambasting president Obama's mortgage bailout plans.

Santelli was cheered by traders as he let rip, accusing the government of "promoting bad behaviour".

The former trader has become an overnight viral celebrity, with the video of his tirade attracting around 1.7 million online viewers by Sunday, according to the NY Times.

However, the White House was less than impressed and Obama's press secretary Robert Gibbs was scathing: "I feel assured that Mr. Santelli doesn't know what he's talking about."

CME Group now seems eager to distance itself from Santelli and in its statement assures us that, unlike the reporter, it "supports the efforts of government officials to improve economic conditions and ensure the efficient functioning of our nation's financial markets".


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