Rick Santelli Gives MSNBC Guest Ezra Klein a Lesson in Economics on Live TV

Rick Santelli, the man who's 2009 firebrand speech on government spending is considered a seminal moment in the Tea Party's founding, gave MSNBC analyst and Washington Post columnist Ezra Klein a stern lesson in free markets on MSNBC's "Morning Joe" Friday morning.

Klein made some assertions about the financial crisis, including that most people agree two economists he cited have "done the best work on financial crises," and then offered up that the role of the Federal Reserve is "often overlooked."

Klein continued on and quoted one of his favorite economists calling for another  "round of significant inflation," and then asked Santelli to respond to the assumption that a recession would cause money to move around in a way that is "unfair."

That was enough to get Santelli riled up, and he responded to Klein that:

"Money doesn't move around in ways that are unfair, money moves around because people that have it control or invest it...its theirs and they put it in places...any outside outsider looking at that process and using words like unfair just don't understand markets and capitalism."

Klein replied that Santelli's response was beside the point. But that didn't stop Santelli from delivering some strong parting shots as the segment closed:

" What we have is a bunch of entities that should have failed, it would have brought religion to the system, it would have been a good thing, but we prohibited that from happening."

Watch the exchange below: