Economic spark lights fire between Lisman and Santelli

The following is a small part of a heated dialog between Rick Santelli and Steve Liesman about the issues of job-growth, Fed actions and how markets ought to react. Liesman starts with a forensic analysis of today's job numbers and Santelli responds in a fierce way that has the potential to become legend.

Santelli yells into the mic waiving his hands
Santelli:
The world changed on March 17th. The Feds got the whole world in their hands. Traders feel comfortable and buying tips in equities and selling rallies in treasuries because there is a bit of a plunge protection in the air.
Liesman:
That is exactly the effect the Fed wanted to have. Can we both agree on two things. One, the yields that were out there were absolute absurd given the underlying credit.
Santelli interrupts yelling
Santelli:
They were not absurd, six years of bad behavior, those spreads should have blown out to 500.

Maybe I should write a play for Broadway. It would be a huge success. Nevertheless Santelli says it as he sees it and his vision is 20/20.

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source: Econo Smackdown
CNBC, Liesman and Santelli
http://video.msn.com/video.aspx?mkt=en-US&brand=money&vid=61c407be-81eb-4da9-b5b0-f1b2e5e325f7