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Santelli's Chicago Tea Party

Renae

Renae

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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
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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'
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MrVicchio said:
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?"
Click to expand...

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.
 
MrVicchio said:
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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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It's aiight. I have no job, so ibetween classes and social gatherings I get to patrol the forums.
 
Kandahar said:
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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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?
 
Arch Enemy said:
It's aiight. I have no job, so ibetween classes and social gatherings I get to patrol the forums.
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So you're in here debating with taxpayers?
 
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