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Thread: Santelli's Chicago Tea Party

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    Santelli's Chicago Tea Party

    The trading floor buzz on whether the government's plan to save the economy will actually help the markets, with Jason Roney, Sharmac Capital; Wilbur Ross Jr., WL Ross & Co. and CNBC's Rick Santelli
    Video - CNBC.com

    Watch the video... the amount of outrage at the Obama plans is quite enlightening. I love the question:

    "Do you people want to pay for your neighbors mortgage?"

    VIDEO: 'The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard'
    Last edited by Renae; 02-19-09 at 06:30 PM.

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    Re: Santelli's Chicago Tea Party

    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: Santelli's Chicago Tea Party

    Quote Originally Posted by Arch Enemy View Post
    GAKSGAKLDJKLQSDFJ

    I'm at work, I should stop posting threads at work... I always lack the time... I set it up then get distracted... come back to it... distracted, finally hit post and... I'm late.

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    Re: Santelli's Chicago Tea Party

    Quote Originally Posted by MrVicchio View Post
    Video - CNBC.com

    Watch the video... the amount of outrage at the Obama plans is quite enlightening. I love the question:

    "Do you people want to pay for your neighbors mortgage?"
    Depends on the situation. If the economy were still booming and my neighbor had taken a ridiculously expensive mortgage that he could never afford, then absolutely not.

    In the middle of a severe recession where my neighbor may have taken a reasonable-size mortgage and was making his payments, but got hit by the double whammy of declining home prices and the loss of his job, then I'm a bit more sympathetic.

    But I prefer to look at these kind of issues from the "big picture." The question we SHOULD be asking ourselves is how this will affect the economy as a whole, rather than whether or not one's neighbor deserves to be bailed out.
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    Re: Santelli's Chicago Tea Party

    Quote Originally Posted by MrVicchio View Post
    GAKSGAKLDJKLQSDFJ

    I'm at work, I should stop posting threads at work... I always lack the time... I set it up then get distracted... come back to it... distracted, finally hit post and... I'm late.

    It's aiight. I have no job, so ibetween classes and social gatherings I get to patrol the forums.
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: Santelli's Chicago Tea Party

    Quote Originally Posted by Kandahar View Post
    Depends on the situation. If the economy were still booming and my neighbor had taken a ridiculously expensive mortgage that he could never afford, then absolutely not.

    In the middle of a severe recession where my neighbor may have taken a reasonable-size mortgage and was making his payments, but got hit by the double whammy of declining home prices and the loss of his job, then I'm a bit more sympathetic.

    But I prefer to look at these kind of issues from the "big picture." The question we SHOULD be asking ourselves is how this will affect the economy as a whole, rather than whether or not one's neighbor deserves to be bailed out.
    You assume the bailing out ends here. There is a fundamental reason people are going under: THEY CANNOT/COULD NOT AFFORD IT!!! What happens 10 years from now?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Santelli's Chicago Tea Party

    Quote Originally Posted by Arch Enemy View Post
    It's aiight. I have no job, so ibetween classes and social gatherings I get to patrol the forums.
    So you're in here debating with taxpayers?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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