How mad are you that you are getting stuck helping to pay off the mortgages of people who haven’t been paying their mortgages? A lot of people are mad. It’s hotly discussed in homes and among friends. Few people stand up and call for a ‘Chicago Tea Party’ in July. I have to say though, this isn’t the first time I’ve heard someone talk about us needing another Boston Tea Party.
Time for a Tea Party?
CNBC’s Rick Santelli went on a rant about the mortgage bailout and the growing tax burden the multiple bailouts and enormous stimulus package the Obama administration is cramming down the throats of the American taxpayer. He calls for a Chicago Tea Party.
While he’s speaking, the people around him are cheering him on. People are mad, really mad. People are tired of the expectation that those of us who have lived within our means, been responsible in our lifestyle are expected to pay more of our hard earned money to pay the debts of those who have taken on debts they couldn’t afford.
Here is the transcript of the mortgage bailout rant. The video of Rick Santelli’s rant is below.
Rick Santelli Rant - Video
February 21st, 2009 at 12:26 am
If your neighbor’s house gets forclosed on it will drive your property value down especially if there are several forclosures in your neighborhood and especially if the houses sit vacant for any period of time. By pitching in to help your irresponsible neighbor, you’re actually helping yourself. Maybe we were all a little irreponsible when we decided to drink the tax-cut/deregulation koolaid. With adequate funding our watchdog agencies could have been properly staffed and could have sounded alarm bells when they noticed that banks had drastically lowered their lending standards. Santelli’s trying to divide the working-class because he’s terrified we’ll rise up and knock him and his ruling-class ilk off of their privileged pedestals.
February 21st, 2009 at 5:54 pm
I don’t think Santelli is worried about the working-class is going to knock Obama, Pelosi, Reid and the rest of the ruling class of their privileged pedestals. I really don’t.
Its too bad that the democratic Congress and the financial committee lead by Barney Frank strong armed the banks into giving mortgages to ‘the poor’ so that we find ourselves in this position. Its irresponsible to say the least. But now we have the rooster guarding the hen house.
Your arguments are twisted to say the least Hilary.