Defending President’s Housing Proposal, Gibbs Assails CNBC Personality

“But the American people are struggling every day to meet their mortgage, stay in their job, pay their bills, to send their kids to school, and to hope that they don’t get sick or that somebody they care for gets sick and sends them into bankruptcy.”
I am one of those people working hard every day to do what is right and meet my obligations. Because I do that, I will not see a dime from this bill. This does not help those of us getting by.

Federalistblogs, you will see a payroll tax cut from the stimuls bill.
The Housing bail out is small potatoes compared to everything else they are trying to do.
Look, I worked my arse off to pay off my mortgage early and resisted the urge to buy a bigger better house but I don’t begrudge those who need help because heaven knows I could be the next one needing help

Mr. Santelli is right. Mr. Gibbs is wrong. Mr. Gibbs is not good press secretary.

I smell a rat by the name of Rick Santelli.

Obama, GROW UP! Is he paranoid?

The WH can only make a statement that says this gentleman is wrong. I fear too many people are trying to make this mess go away by blaming and by lashing out. It really is simple people who have money to buy stocks and houses are not going to do that until the faith that things have hit bottom comes to them. I don’t know why the stock market takes a dump everytime someone in Washington passes gas but that is what happens. Maybe this gentleman needs to talk to the people he works with I think they are part of this mess too!

Gibbs: “I hadn’t worked on the campaign, but simply watched the cable news score-keeping of the campaign, we lost virtually every day of the race…”
LOL! Oh, that WAS a joke, right?!
Surely Gibbs isn’t trying to (change history and) convince us Obama got worse press than McCain???~!
Just a small example of the SPIN coming from the WH podium. How petty of this White House the way they take on individual Americans. Rather than deal with the essence of Santelli’s argument, Gibbs postulates some populist speculation about Santelli. Just pitiful.

“Where is the outrage about the Attorney general calling us a nation of cowards??!!”
Holder was speaking about how this nation approaches the conversation on race.
And he’s right.
But hey I guess right wingers take the cowards comment personally.
Truth hurts.

If Santelli is rich, then his neighbors are unlikely to receive a bailout. Jumbo mortgages are excluded.
Stray thought, will the exclusion of jumbo mortgages mean that many California homeowners won’t qualify?

Santelli is an entertainer. Unfortunately, the Stock Market is so sensitive, it is affected by people’s optimism or pessimism about the future. Santelli’s hissy fit was not helpful. And, Gibbs is right about Santelli not knowing what he’s talking about. He is NEVER prepared for his newscasts. That’s why he has to always be outraged or riled up. It fills time.

I believe Santelli is right, but his delivery is too excitable for me.

CNBC is nothing more than a platform for Right-winged nuts like Santelli, Kneal, Kudlow and Cramer to rail against Democratic efforts to clean up a mess their party (The Republican “Just Say No” party)created (and they supported).
Do yourself a favor and watch Bloomberg. They don’t wear their political party affiliation on their sleeve.

Whether Santelli’s rant was fact based or not, he reflects growing anger at the daily billion dollar give aways that seem to be headed for ‘those who drink the water’ as opposed to ‘those who carry the water’. I am one of those foolish hard working, law abiding citizens who pays my mortgage, pays my taxes and lives within my means and I feel completely beaten up by the state of the economy and the markets. I don’t see how these plans are going to help. In fact, all these solutions look like nothing more than special interest palm greasing and/or panicked responses from people who don’t seem to know what they are doing and just throw (my tax) money at every problem. Santelli’s diatribe reflects those feelings perfectly.

Ricky has had too much whine!
His side had years to fix the problem … Oops! they were rthe problem.

And why can’t people afford their mortgage? Because many have lost their jobs and why did many lose their jobs? because the last 2 years people were not buying as much, and why is that? The cost of gas!! That is what started all this…
Oh and I have 1 thing to say to all those complaining about the tax cut, if they were taking $13 a week from you, you would complain even more.. I’ve come to the conclusion that a large number of people in this country just want to complain about something and it doesn’t matter what it is that they are complaining about!
The only way out of this is to pull together, to sit back and hope the president will make your life better is unrealistic.

Gibbs that has never owned or run a business, .what a joke…you are and the rest of Obama’s cabinet…who can’t seem to pay their own taxes. What are you going to do Gibbs? Make Santelli conform to your way of thinking or else…sounds like a threat to me. Or are you going to have the IRS crawl up Santelli’s butt and wish he never mention how stupid Obama’s stimulus plan is. How this plan will benefit the fat cats on Wall street and the low life people that took out mortgages that was 50% of their income because they wanted to live like the Jones. Or that some watch dog that Obama hires to watch the States spend the money wisely but you failed to mention how this watch dog group has their hands tied behind their back with the language you put in the stimulus plan….nice snow job Obama.

I dont totally agree with Santelli, but I would like some clarification on a part of this plan that is suppose to give those in the program $1,000.00 off their principal for five years if they pay their mortgage on time. I do agree very much that something must be done with housing – such as lowering rates/ principal vs foreclosure – but giving people money for paying their mortgage on time- NO!
The reward for paying yor mortgage on time is ownership.

On a more productive note: What can we private citizens, the private sector, do to help the economy? Even if the stimulus and the bail-outs work very well, they are still just a stop-gap measure to keep us afloat until the private sector can come in and get things going.
What it seems to me we really need are some great new inventions. If we can get some private businesses making efficient solar cells, or great ways to store nuclear waste, or faster modes of transportation, or better ways to grow food, etc., etc.
I think it’s up to us private citizens to save the economy. I think the fed government has done all it can do. Soon the states and local governments will be doling out money. Let’s help them make good decisions by looking for new inventions that can generate jobs in the private sector.

Santelli has to be another republican who saw yet another opportunity to knock Obama and what he is trying to accomplish. What people need to understand is that it takes time to iron out all these issues. This crises did not happen overnight, and certainly not on Obama’s watch. You didn’t get any help from the last president, did you?? Obama has always said he will listen to critics of his plans…..plans which, by the way, are not designed to fit YOUR direct needs, but the needs of the majority. I’m confident Obama will try to see to it that all will benefit. What we need is patience, not another hack stirring everybody into a frenzy over something that hasn’t played out yet.

When thing go wrong blame the press?.
Leonard

santelli runs with the crowd that got our country in this mess to begin with. this ####### is only screaming to deflect blame from himself and his CEO buddies. also, if he had done any critical thinking whatsoever, he would realize that people are still going to have to pay their mortgages, only now possibly at a lower, affordable rate. anyone who doesn’t will be foreclosed upon. and this guy is a financial reporter? sheesh.

Question. Will the people who took out home equity loans on their homes using Subprime vehicles and subsequently blew that money get to keep the goodies they spend their equity on? In other words, if we writedown their principal amounts, which is what Obama is proposing, will they get to keep the spoils? After all, some of these people aren’t upside down because of the market… they are upside down because they used their house as an ATM card. I know a few of these people. Now my money is going to subsidize their new kitchens, vacations, cars. That’s just FANTASTIC.

I believe that Gibbs is saying to cable news, please to giving misinformation. These people rant lies all day. It’s like they are crazy. I hear so much misinformation on cable that it scares me. This is a sad time for our wonderful country and we have a pres trying to fix all these problems in short time. Then we have folks who want to rant and call him a commie or fasist or whatever w/o learning facts. This is really dangerous. God Bless the U.S. and the President.

Santelli sounded to me like someone who is rich enough to think that the rest of us are all low lives and the wall street types know it all! He is not and I like Gibbs and think he is a great press secretary. president Obama is doing everything he can to get us all back on track i salute him and am so thankful he was elected and I helped! My husband has worked for a samll company for 40 yrs this year, he is the only employee and has no benefits, his wage is about 38K a year and it takes both of us working to live. His company may not make it this year and we would be slowly sinking, You idiots in wall street think everyone in the middle class are lazy and shiftless! This is not true at all and when someone is losing thier home and thier jobs they need a hand up not a hand out,don’t you people know the difference! I am glad he is not in government. At least spending borrowed money on our own needs rather than these useless wars to enrich war profiteers like the Bush administration and thier buddies is about to come to an end.

Actually, Santelli had a very good idea. Why not open up the President’s web site to a referendum to see what people think of what he’s doing? Maybe what he promised and what he’s delivering are two different things to the people who voted him in 3 months ago.

Gibbs is pretty pathetic himself. His treatment of Mr. Santelli was undignified and his ridiculous statement that if you watched cable tv during the campaign, his candidate (our current president, Mr. Obama) ‘lost’ every day really floored me. The campaign is over, Mr. Gibbs. Your guy won handily and is in charge. And Mr. Santelli tapped into the same public frustration that your campaign tapped into to get your candidate elected.

GO GIBSY YAAAAA I LIKE

How many times did Bush attack media people like this?
Welcome to one party politics and the real face of fascism!

Dear Obama, Gibbs, and fellow lemings,
The whole problem is inflated house prices. The gov’t is killing the economy if they keep people in their houses that they can’t afford and by picking winners and losers. It keeps everyone out. How many people have had to watch flippers, cheaters, and others buy houses that are way overpriced and had to sit on the sidelines because we couldn’t afford to buy houses at such exhorbitant prices if we got a loan the right way. Now, when the market is actually going to find a natural low and when the free market can determine a true fair price and all the people that have worked hard, saved a 20% down payment have a chance to buy, Obama and team want to come in and play favorites and “save” the housing prices. Sweet! Thanks One. Glad my tax dollars will go to help the flippers and income cheaters out there.
Santelli was right. Nothing should be done about housing prices. What goes up must go down.

Santelli and his CNBC comrades are fun to watch but the whole bogus specter of “leftist” moves is laughable, given that it was the big banks who came moaning and groaning to D.C. last fall, when, by the way, a Republican was in power, and all this merely adds up to shoring up the catastrophic self-inflicted losses on yes, Wall Street. Yeah, banks and brokers with loose standards shouldn’t have enabled bad homebuyers, but they also shouldn’t have been so drunk on securitization that they lost sight of counterparty risk, i.e., that Joe and Mary Blow are in a McMansion far beyond what they can afford. So dealing with all this mess, bailing out capitalism, is somehow “leftist”?

Chuck… you left out something…they also want to silence the radio talk with the Fairness Doctrine!!! I am glad this idiot will be only a 1 termer..
Santelli is right and they can’t stand it! A lot like these cry baby liberals commenting here! Obama didn’t win by much so he should have moved toward the center…instead he went way left and now he will lost in 4 years. Pray they don’t do much more damage between now and then! Liberals buzz off and quit stealing from the taxpayers!!!!

Where the hell was Santeli when they gave 700 Billion to the wall street firm you jerk this plan wants to help regular americans.

Aaron -
I totall agree with you. The market needs to find a low so the average person can come in and begin to purchase these homes. Keeping prices artifically elevated is completely insane.

I fully support Rick. This housing proposal is completely against moral standards. Do you think it is fair for 92% of all homeowners who are paying their mortgages on time and making their ends meet responsibly?

People who are ranting against what Rick said, I have one question for you? Have you read the stimulus bill (all of it not just you heard about in the media) Rick was spot on. He is right about the feelings of alot of people. Please tell me why I should pay for someone else mortgage???

Right, must not challenge the savior of America! Must not make jokes, must not question! The all fired media secretary takes offense at all those questions too, so don’t give him any grief either, or he will invite you for a cup of decaf. Wonder if it will be from Starbucks or 7-11?

Had Santelli ranted like a 10-year-old against the Bank bailouts last fall, he’d have some credibility now. He didn’t. So he doesn’t.

gibbs reminds me of Baghdad bob.
He’s a tool that will say whatever obama want him to say.

I wish I could get a list of all the homeowners that will take this govt. assistance so I can give them a friendly call and ask why they didn’t make their payment. I have the right since I am paying for their home now.

Rick Santelli is a hero. He gave voice to what most of us believe. Rick works for CNBC that is a division of NBC run by Jeff Imalt one of BHO’s advisors. I hope they don’t fire Rick for exposing the Chosen One. Thank you Rick for telling it like it is.

DJ:”People who are ranting against what Rick said, I have one question for you? Have you read the stimulus bill (all of it not just you heard about in the media) Rick was spot on. He is right about the feelings of alot of people. Please tell me why I should pay for someone else mortgage???”
I have this question for you: What does the stimulus bill have to do with the mortgage plan? There is no crossover – different funding source, different objective, different sector of the economy. Do you have the slightest clue what the talking points you’re parroting actually mean? It doesn’t sound like it.

I just spent $5,000 to refinance my mortgage which I have never had a late payment on. Is Obama’s plan going to pay me back? I should have stopped paying months ago. Is Obama listening? Hell no!!

Santelli is a hero for standing up to these people!!

Santelli has got it right on as far as I’m concerned! And most everyone I know is along the same track- that’s for real in our world. I’m a small business owner, not a stock trader.
Yea Santelli!! Bring a voice to the silent majority even if they try to squish you!!

Hey if your looking for media bias just turn on Countdown with Keith Olbermann, what a jerk. This is a real moron…

Santelli was trying to beef up his base to get him above his quota amount, and keep his portfolio in the black. Today is probably turn in quota day, and if he didn’t make quota, he doesn’t get commission.
You people need education on Wall Street. They really suck the ignorant right in. Have any of you ever had a major account in sales? If you haven’t, then you don’t understand the concept of selling.
Santelli doesn’t even care about anything except his portfolio, period. So, Santelli, take a chill pill and get a grip on selling with dignity and honesty for once, if you can.

It’s getting troublesome that lately, when people don’t sing the praises of the Obama administration, they are mocked and criticized by those in power. It’s funny, as much as we like to criticize George Bush, he and his staff never went on the attack, criticizing those who didn’t agree.

Will the property value of your home decrease with foreclosures in the neighborhood?This guy, was he this vocal with the bush tax cuts and help to corporate America.Now he is stirring up strife amongst neighbors.We are in a reccession and this guy is ranting about help to Americans that need it. Socially and economically so many of us are born into disadvantaged situations. Sometimes , but not often enough we can get out of it. This economy is in crisis and people like this selfish, republican moron doesn’t want to help out fellow Americans. Our currency states ” In God We Trust” What God you know would not approve of us helping our neighbors.Mr. Santelli’s outburts are ridiculous.He and many other republicans like him fear the possibility of America actually being enjoyed by more than his privledged class.Mr. President please continue to serve the needs of those that voted you in.I and millions of Americans know you have a heart for the overlooked, oppressed and underpaid.You anger people like this jerk the same way slave owners were mad at Lincoln’s Emancipation Proclamation.Republican policies are the same as a slave master’s mentallity. Keep ‘em near poverty and if the fail oh well, they aren’t in my family.Shame on you Mr. Santelli!

Santelli stirring the pot sure isn’t helping things. The guy is evidently behaving like an actor who wants ratings so he improvised that rant yesterday. No basis to it. Those of us who have paid our mortgage and are not being foreclosed upon, who work every day, pay our taxes, bills are current and we still have jobs are simply glad about all that. I wouldn’t trade my position for the guy who lost his home, car, job and anything else he had because the banks allowed him to buy a home he couldn’t afford. It helped the banks (the Republican fatcats) to do that, it didn’t help the poor schmuck who thought he could do it and hoped he could do it, but couldn’t. When someone’s home forecloses upon, it brings down property values of all other homes around it. So no one should be “glad” about that happening, seeking revenge against the less than responsible couple who thought they could make a go of it, but couldn’t. The banks should not have given them the mortgages in the first place, and don’t give me that crap about the Dems. putting pressure on Fannie and Freddie to give loans to unqualified people. That’s not how we got ourselves into this mess, whether you want to believe it or not!!

Okay Rick….
Perhaps you can savor your 15 minutes of fame……

Look, Santelli’s sentiments are understandable. Nobody wants to play by the rules and feel like their neighbor who ignored them is going to come out ahead.
But the simple facts are that if we just let all these houses go into foreclosure and the banks take the hit it’s bad for them and will be bad for the economy and all of us. The “bailout” isn’t going to just pay off people’s mortgages. But it might let them refinance. In which case they keep making payments, which is good for all of us.
And if someone who doesn’t deserve it benefits from the best we can come up with, well boohoo. We’ve send innocent men to jail. Does that mean the entire justice system is bad and should be done away with? We would all be worse off if it was. Just like we would all be worse off to not have a bailout plan because one of the traders who got us in this mess in the first place rants about the fact that his neighbor doesn’t deserve a second bathroom.
And I suppose this guy deserves what?

Finally!!!!!! It has been years, YEARS since I have heard anyone have even the slightest criticism of Obama’s ideas. Santelli is 100% correct. The sad truth is that the world will not recognize the truth of his comments until it is too late, and the plan not only fails to correct the problem but ultimately pushes housing prices even lower.
Prepare for a revolution

I will admit I can not watch CNBC or any other cable news but if this story is even remotely accurate, Santelli for “Common Sense CZAR”. I am not on welfare, not unemployed begging for free money, not anticipating a bailout. I am retired. This mortgage packag stinks. If you buy a bushel of peaches, shouldn’t you look a littlee deeper than just the label describing them? I wonder how many of these folks with “bad” mortgages bothered to have a lawyer read the contract and explain it to them. How many put 20% down and how many lied on the application about income. Why in the world should liars cheats and theives be given a bailout or due consideration?

“You are afraid to criticize Obama because he is Black. He is changing America,the culture,and bringing in Socialism.”
Obama is NOT “bringing in Socialism” — he is bringing in happy-face fascism, and funneling trillions upon trillions of dollars to the banks, and to the very rich, while He does it.
If Obama were NOT “black” (somewhat, on the outside), somebody in the Congress would be speaking publicly by now of impeaching Him … then again, He’d NEVER have prevailed in the primaries without lying and dirty tricks, both actively from His organization and passively from the media who were afraid to be critical of Him for fear of being labelled “racist”.
Gibbs’ bully pulpit goes only so far: he can “call out” all the commentators he cares to, but it doesn’t look like it’s helping the “Obama” organization.

Correct me if I am wrong, but did not McCain promise to buy up these toxic mortgages during the campaign???
****************************************
Yes he did, but Obama is not buying anything up in his proposal. Government is not in nor should be in the landlord business.

Weary:” It’s funny, as much as we like to criticize George Bush, he and his staff never went on the attack, criticizing those who didn’t agree. ”
You are completely disconnected from reality. Be it the Valerie Plame take down, firing of attorneys for not towing the Republican party line, or threatening to prosecute the New York times under the 1917 espionage act, the Bush administration and “bring it on” Bush himself often went on the attack. You look profoundly ignorant of the history we just lived through.

Carol – Cannot speak for Alabama, but here in Ga your friends would be without a check. If you turn down work in GA you run the risk of losing your unemployment check.

Mr. President, we are still with you. Your base is still 100% with you. The ones who are against you, have been against you from the beginning. They have no leader of their party (other than Joe the Plumber), so they are just angry and bitter because they have no clear direction. God Bless you Mr. President, I think you are doing a fine job. Rush has asked all these people to pray for your demise and failure, but guess what. We are praying to a different God. We are praying to a God of Love, not a God of Hate.

Oh it’s a true joy to see people seeing through the Messiah. And it’s another joy to see the White House get so touchy about it.
Welcome to the Presidency, Mr. Obama. It ain’t as easy as it looks, eh?
LOLOL.

How dare he criticize the mesiah Obama.

The man has a point how ever if we do nothing about it then all we can do is point fingers and watch the economy sink even more. If you are going to call someone out offer a fix to it or go run for an office yourself. I am getting sick to my stomach watching these folks in the media or anywhere else for that matter offer their opinions, but no solution. So okay the plan doesn’t work huh then what the heck should we do . . . Someone raised a valid point one I have been thinking myself – when we look back at washington, history, MEDIA how do you want to be viewed . . try honest reporting, stop the drama

This Mr. Santelli and NBC are trying to do a clumsy ‘wag the dog’ routine–NBC gave their own guy the spotlight in the lead story as if CNBC is simehow ‘independent’ of the Peacock at 30 ROck–they are not, Santelli staged the whole thing and I wish Brian Williams and his editors would get back to reporting news instead of trying to create it!

Rick Santelli is wanting to be the next “Joe The Plumber.” I do believe a bit of speculation in these markets Santelli works also caused a bit of a bust?
You know I don’t know what will work and not work in the Obama plans, but he is trying. If this downward spiral contiues old Rick is going to have a lot more to worry about.

The government is obligated to provide me with food and shelter – even if that means helping me pay for my house (hey, it’s not MY fault you bought a small house when you could have had a larger one on the government’s dime). The government is obligated to educate me, find me a job and cover my health care needs. If I can’t afford my own big screen tv, the government is obligated to provide me one. This is America. Why should I do for myself when the government will provide for me?

Kind of funny reading the hype here. For 8 years the critics had their fun. Now when there is something of substance to criticize, like bailing out deadbeats with taxpayer dollars, we are all supposed to withhold our outrage. Well I applaud rick Santelli! I don’t mind helping the banks back to health since it was liberal politicians who demanded they make bad loans. We owe the banks some help. But a mortgage bailout plan is irresponsibe. We elected Obama. Now we are all going to have to pay for it.

This bailout is only “helping” a few people in this country, the ones who don’t think they should have to pay their bills.

swenk22 – four months ago, it seemed like the bailouts would end with assistance going to the banks so that they could start lending money again. At that point, not all banks were failing and many refused the bailout money. Then the government stepped in and said to the banks, “you WILL take this bailout money” and everything changed. Four months ago, we were talking about a few hundred billion, not trillions of dollars. When the banks lend money, people buy property. It’s as simple as that. That’s why it makes sense to solve the problem through by working with the banks, not irresponsible homeowners.

There are so many angry Republicans who can’t do as they did for 8 years under Bush Administration: lie, cheat, be fraudulant, retailiate with threats and complete lies about individuals and groups they don’t like, and the lists is very long in negative behaviors. Get a grip Republicans … As in Proverbs, “Your sins will be revealed”. So, these sins are coming home to roost, and are very ugly. If you Republicans had had discipline, we wouldn’t be in this situation. I’m Republican, but thank goodness I had grandparents who were Democrats and had sense. I learned to be a disciplined person with money and kindness towards others. Those are good attributes to have for anyone regardless of party affiliation. Greed is destructive and deadly.

Many of you fail to realize that a lot of these homes are in foreclosure because many homeowners lost their jobs and it through no fault of their own. Not everyone is sitting in a house they cannot afford simply by rolling dice. Many of these homeowners are victims of the downtown in the economy. Just look at how many people have lost their jobs. It does not take much to be in the same situation they now find themselves in…… Stop with the ranting like they deliberately got themselves into this mess. It could happen to you too!

Is this the same CNBC that is crying because Obama put a limit on CEO comp?
I did hear CNBC talking about moral hazard when we bailed out the banks.
Those bankers are crooks that still aren’t in jail because they bribed/lobbied the congress with millions of dollars.
I don’t like bailing out people that got in over their heads, but I’d rather give the money to people than the banks to prevent the colapse. As far as I am concerned the next batch of tarp moeny should go to the credit unions that made good loans. The big banks don’t deserve to survive.

I love it! Mr. Santelli’s rant is exactly how I feel! I don’t want to pay for someone’s loss at the gamble. That’s not my problem! CNBC is now on my radar screen and especially when Mr. Santelli is there.
Posted by: Gina
Good for you. If you have been paying taxes for the pass eight years you do realize that you have been paying for the Iraq war gamble and a bank bailout gamble right? How much do you really think you are going to pay out of pocket for this? You have no idea. Sorry sweetheart that McCain/Palin lost but this country has evolved. Your days of being the only one to enjoy the best of America are over.All Americans are going to be able to benefit from what this country has to offer and I don’t feel like explaining to you about why you are so blind to the HOPE this president brings to the disadvantaged. Your agreement with Mr. Santelli shows me you live a plush, selfish life and you feel threatend that there will be equality spread abroad. Poor thing. Go to Starbucks and get a latte.

Santelli has echoed what millions of americans feel. My wife and work hard to make our house payments and do so on time. Thank you Mr Obama for now making us pay for other peoples house’s. You will be gone in 4 years if not sooner. Can you say impeach?

Lisa, you don’t know what you are talking about, you are only parroting talking points from the Democrats and similar left wing hate groups.
The ones who got us into this problem are Jimmy Carter and the 70′s democrats with the Community Reinvestment Act; Bill Clinton and the 90′s congresses (dem and rep), Barney Frank and Chris Dodd, Franklin Raines, and all the other liberal Democrats who forced banks to issue mortgages based on political correctness, instead of financial capability and soundness. As usual liberals harmed the market by intervening in it, instead of allowing decisions to be made on real, correct mathematics.
So Lisa, while we all realize that you liberals can never accept responsiblity for your failures, that is the hard and sure truth.
Øbama = Jimmy Carter² = Failure

Gibbs said; “I think we left a few months ago the –the adage that, if it was good for a derivatives trader, that it was good for Main Street.” This is typical political hyperbole! Did you all get together to come up with this one? I never heard it before, so how did we leave it a couple months ago?

BillJenkins, I suppose you also call yourself a christian? You must be under the impression we all work for ourselves! We liberals work for the same companies as the idiot right wing nut cases not for USSR or china, We want the companies of america to succeed because then we all succeed. What is wrong with you people, you must beleive in debtors prison to. Make a note: most of those in trouble came on bad luck and tried to buy a home ad establish a place for thier family and could not make it. Welfare and food stamps are not something anyone wants to do, unemployment won’t pay the bills and keep your head above water! THINK people THINK! how will it help to watch even 10% of our nieghbors go homeless and hungry!

The ignorance in some of these comments is astounding. I will tell you my personal story. My wife and I wanted to purchase a Condo in Oceanside, California in March 2003. After making contact with a loan agent working for Countrywide, I couldn’t believe what I heard. This loan agent continually hounded my wife and I to lie on our loan application “because no one would check the figures.” I refused, and told the agent that the only information going on a loan application my wife and I would sign would be the truth. If we didn’t get the loan, tough luck for us. Well, to make a long story short, we did get the loan and bought our Condo. But, even today I’m amazed by the stories I heard of loan agents pushing people to lie so they could get a loan. I should have gone to the F.B.I., but this was during Bush’s first term so I figured they wouldn’t do much, if anything. Now, I place the great majority of the blame on the loan agents, who continually pressured prospective borrowers to lie on their loan applications for the mess in the housing market today.

Gibbs, as usual does not quit understand what going on here. He has no right to call out a person or a reporter for telling like it is. If maybe he would wake up he would realize that 85% of the people are working hard to maintain what they have and to start to worry about those people who lost a house because they bought too much house is just a little too much to swallow. Many of these same idiots bought houses on spec with the hope that they could made a killing in a short period of time and they lost. If Obama knew what he was doing he would have realized that a tax cut would have solved much of the problem. But I’m getting the feeling that it has nothing to do with saving this country but has to do with wealth redistribution. People are starting to get fed up with his constant wealth redistribution schemes.

IT’S WONDERFUL! All this change we are going through is so nice .BO has such good control of everything and has been such a a great president in the 1st month. I feel so good about everything now. 4 more years of this clown and we will all be broke!

I’ve always lived within my means and now I feel that one way or another I’ll pay for those who didn’t. Hell, I already have! Help the helpless, not the clueless. I think I am already paying for someone’s extra bathroom Mr. Gibbs!

Interesting fact…
We had a consulting firm conduct a class at the company I work for. This firm consults many banks as well as other industries. They set-up a plan with banks that allowed homeowners to rent the houses they were in for an amount that they could afford and once everything was straightened out, they would guarantee to refinance the house at a low interest rate. Sounds like it would save a lot of people from foreclosure, right? The sad thing is, less that 1% were willing to take the bank up on the deal. The rest would rather foreclose and ruin their credit.
And these are the people we should be helping out? Why help out those who are unwilling to help themselves? Do any of these people have part-time jobs to make ends meet? Probably not. The majority are just looking for a hand-out.

I love it how Gibbs asks him to read it when the Demos and Obama didn’t allow any of the people that were actually voting on the stimulus bill to read that (despite their promises). Rather a double standard. This administration SUCKS! Keep your promises (or don’t make them in the first place just to win votes)!

I thought it was funny and conveyed my sentiments exactly!

This beast is going to take us down if we do nothing. Yes people overextended their finances, wall street created toxic lending practices but the reality is that this is a sinking ship we are all going to drown if nothing is done to repair the damage.
Innocent people who did not take a mortgage they could not afford are affected now and thats a fact. If you don’t believe this try re-evaluating the price of your house.
The mortgagae problem has existed since 2006 and it has not gone away only getting worse, should we wait for another 3-4 yrs by which time we probably would be trading by barter.
America wake up, drink decaff and smell the roses things are pretty bad and this may be our only chance to fix it.

What this plan does is force my grandchildren to pay the bills of people that took out mortgages they couldn’t afford. Whether it was an act of collusion with crooked underwriters at the bank or they took a calculated risk and lost, is irrelevant. Those individuals accepted the risk and should have to deal with the consequences or THEIR actions . It annoys me that my tax dollars are going to be used to prop them up , It INFURIATES me that my children and grandchildren will be paying for the actions of these people!
BTW Nice job CNBC for speaking up!

“Change We Can Belive In” “Yes We Can”
What a load of B.S.
Obama = Socailism
Obama = Spread the wealth
Obama = Hard paying taxpayers pay for his supporting base

outreach101:”Apparently americans need to become more Educated on facts.”
The FACTS are that for 6 of the last years Republicans controlled the committees, not Barney Frank. The FACTS are for the last 2 years the Republicans have launched more filibusters than ever before in the history of the Senate to keep their policies in place. The FACTS are the Republican administration ran the regulatory bodies the last 8 years.
The Republican motto: The Buck Stops Over There is just no longer believable and is approaching insulting. How stupid do you think the American people are?

The terrorists are rejoicing as Republicans continue to drag America down into the dark ages, which is where we’ll be if America collapses. Before spouting your mouths, find out WHY massive foreclosures are bad, not good. Very very VERY bad. Don’t just sit there and shout like a fool. Both your president and ours are trying to save the ship! Get with the program!

….. In reality, this economic situation was caused by three groups, The Economic Liberals (european style socialistic democrats) who wanted their constituents to get easy housing (and hopefully pull in more ‘democrat constituents’ – a self perpetuating political system), the Wall Street Banks who wanted bigger profits, and ‘Yes’ – The People who got loans they Did Not Deserve.

Lola Cornwell:”Isn’t disturbing to everyone that Obama’s and his team’s primary concern is how Obama is perceived?”
How is having the press secretary answer a few direct questions during a daily briefing making this the “primary concern”? That seems a pretty silly stretch.

Rick was right on…….. Bailing these people out will cause people in the future to accept loans that they know they can not afford (as soon as the credit market is opened up enough – hopefully the banks have been changed by then due to this crisis – at least for a while anyway). Hell, the next time I may just get a loan I can not afford. Why worry, the government will just bail me out………Right…..
….. In reality, this economic situation was caused by three groups, The Economic Liberals (european style socialistic democrats) who wanted their constituents to get easy housing (and hopefully pull in more ‘democrat constituents’ – a self perpetuating political system), the Wall Street Banks who wanted bigger profits, and ‘Yes’ – The People who got loans they Did Not Deserve.
Many people seem to think the Banks got a bailout (although from what I see they are going to have to pay much, if not most, of it back in the long run). Others would say we all got a bailout by saving the banks (even though they acted very badly). The Federal Reserve ‘and’ the Big Banks are the controllers of the “Money Spigot” (and we could throw in Freddie & Fannie as Governmental Banks who also acted very badly – with the Democrats Help,….. Frankly especially Barney).
As we come out of this downturn we are going to need these Big Banks to help with the money dissemination, especially loan officers and the like (and hopefully they do it right this time and hopefully the Dems keep their hands off, this time). If we let most , or especially all of these banks fail, it could ruin our economy for 10-20 years. Hopefully we will come out of this downturn within a couple of years and if you think we (or they) can re-assemble Big Banks of this type in a couple years you are probably, very much, kidding yourselves (it is possible but highly unlikely). Ousting some CEO’s and Vice Presidents, etc (if they are truly guilty – and not just a ‘Public Demanded Political Witch-Hunt’) is the better route (and maybe some guilty politicians as well). If these banks recover then hopefully we will get most of our money back.
As far as the bailout of the individual homeowners goes,…..Well, we will probably Never See that money again………… But, you know, in today’s Spend, Spend Climate; Why 70 Billion or so is just Chicken Feed, ….Right. ……………

Unbelievable how out of touch Mr. Santelli and the rest of the media are with real America.
Jake is completely right to disparage him as a “personality” as he is obviously not a journalist in any sense.

The vice of capitalism is that it stands for the unequal sharing of blessings; whereas, the virtue of socialism is that it stands for the equal sharing of misery.

“Why help out those who are unwilling to help themselves? ” — Posted by: stdntDrvr
Why? Because stdntdrivr, this is the New America and paying bills is so old-fashioned dude!

Jake: Isn’t the reference to “where” Santelli lives and “what house” he lives in a little over the top?
How long before we see this address info in bold, large letters on DailyKos? How long before multiple agency officials scour every moment of Santelli’s life and spread any dirt they find via the ever willing MSM?

We’ve had 2 democrats in office since (and including) Jimmy Carter, and Congress has been decidely republican until 2 years ago. How, with a straight face, can you say Democrats got us into this mess?!? Really, (and this goes out to cable news too), just because you say it, doesn’t make it so…
“Poor people have to work for their money, rich people have enough to make more” (Blubird)
The majority of people being foreclosed upon, and losing their homes, are not irresponsible consumers who purchased outside their means, they are simple, basic, REAL americans, who either a) had an enexpected failure in income (ceo’s and shareholders laying off workers instead of trimming their expenses or profits), or b) were pressured into sub-prime, bad loans by bankers making a mint on the trading of said bad loans.
Show me a SINGLE person who is losing their home (and struggling because of it), because they “bought too much”. I keep hearing it, but I haven’t seen a single concrete example. Besides, those of us who make less then 200,000 a year DON’T BUY AND SELL PROPERTY AS A SIDE JOB. We’re too busy trying to make enough to feed our children.
Get real…

And why are they embarrassed?? I am embarrassed at the Washington/New York — I actually watched a CNB broadcast on CSpan of Obama’s visit while the Washington and New York press were either arguing about cartoon’s 24/7 or this idiot on a rampage trying to play UNCLE with mis-information. Anything anyone on Wall Street be it news or sellers I wouldn’t believe — it’s like buying the Brooklyn Bridge.
How about serious news for a change — Hillary’s visit to Asian Countries, Obama’s visit to Canada, what goes on in the world — It used to be you could get interesting world news on Television, now it’s like ET with suits. Thank god there is still the BBC and I wouldn’t mind seeing more of CNB

stdntDrvr “The rest would rather foreclose and ruin their credit.
And these are the people we should be helping out?”
Have you read anything about the plan at all? It primarily offers the ability to refinance into a standard mortgage. The biggest ‘free money’ is that the government will pay up to $1k a year if you pay off an underwater mortgage – that is if you pay off a $200k mortgage on a $160k house instead of walking away. So no, those aren’t the people we should – OR WILL – be helping out.

So some of you don’t mind bailing out the fatcats on Wall Street and in financial institutions, but you’ve got a problem with helping out ordinary folks who are also over their heads? Hard to figure. I’d rather help my neighbor before they become homeless. (And by the way, we built our tiny home using saved cash, not a mortgage.)

Santelli is right and if you are a socialist then you’ll be happy with the road GB I and II set us on and Obama has continued us on x 4th gear. Who gives a flying fig about parties and income. Socialism is socialism. That is not what this country is about. William J. H. Boetcker said it best in his ten points:
1. You cannot bring about prosperity by discouraging thrift.
2. You cannot strengthen the weak by weakening the strong
3. You cannot help the poor man by destroying the rich.
4. You cannot further the brotherhood of man by inciting class hatred.
5. You cannot build character and courage by taking away man’s initiative and independence.
6. You cannot help small men by tearing down big men.
7. You cannot lift the wage earner by pulling down the wage payer.
8. You cannot keep out of trouble by spending more than your income.
9. You cannot establish security on borrowed money.
10 You cannot help men permanently by doing for them what they will not do for themselves.
Yeah for Santelli for saying it outloud.

Fo those that have no understanding of how this credit crisis came to be – look up Crisis of Credit Visualized by Jonathan Jamison on Vimeo for a start.

“But look at how the real workers behind him support what he says.”
The “real workers” behind him? You mean the traders, the kind of people who helped get us into this mess? Sure, they’re “real workers” in the broad sense that they’re working. But I hardly find them representative of the majority of the working American public.
Posted by: Lisa | Feb 20, 2009 4:09:50 PM
————
Well said Lisa! I agree.

Okay, so the few anti-Santelli commentators are the -7% who won’t join his tea party? Wake up, America!!!
Is it tea yea?

I purchased a home from a 60-year old just before it was sold in foreclosure, agreeing to rent back to him. He had liquidated his 401K because of medical expenses. He is working two jobs now but earning only $30K year. He works as hard as me, but hasn’t had my good fortune. I am happy if the Obama plan will provide someone like my renter some breathing room to get past a difficult time. Most of us live very close to the edge of financial ruin – not because of poor planning but because of what life brings our way. We are in economic circumstances, beyond our individual control, that could swamp most of us and I’m glad to provide some help to those at risk of capsizing

The referendum part is an awesome idea. We need a positive outlook and some sanity in our legislation. This “fear bubble” will burst and we will heal, recover, and advance to new highs, this period will be but a memory (although a painful one) We need to click on the “high beams” and look further down the road, beyond our current problems.
Santelli is a shouter and should tone it down. The administration validates this chump by addressing his comments directly (they apparently feel threatened by his comments)

Okay, so the few anti-Santelli commentators are the -7% who won’t join his tea party? Wake up, America!!!
Is it tea yet?

Crazy fools…bottom line is…you don’t fix the problem by recreating the environment which brought it about. Somebody has to take the medicine sometime–since you won’t, thank God it’s your children who will. The real concern is that there will come a time in the not to distant future that the US will no longer be able to find anyone to lend money.
And, believe it or not, there are people for whom this bill does nothing.. I, for instance own my home and have no mortgage–it’s really a matter of life’s priorities.
I also have no intention of moving, so I would welcome the day when the house could be devalued to a $1.00 –let the tax assessor chew on that.

There’s no fool like an uneducated fool like Mr Santelli telling people to drown themselves. We’re all interconnected. If your neighbors foreclose, you ARE gonna be affected. If spending goes down, you ARE gonna be affected. If local businesses shut down, you ARE gonna be affected. If the stock market goes down, you ARE gonna affected. If crime ramps up as state law enforcment and an educations shuts down, you ARE gonna affected. The frontier’s long gone folks. America is the shining city on the hill, nothing is free, and if it collapses, you ARE gonna be affected.
Posted by: Scotti | Feb 20, 2009 4:36:05 PM
How right you are. That’s what some people don’t get about all of this.

The vice of capitalism is that it stands for the unequal sharing of blessings; whereas, the virtue of socialism is that it stands for the equal sharing of misery.

Either way you house is going down in value. As soon as the neighbor gets his mortgage lowered, that will set a new base for the house as far as it compares to the surrounding houses. We are spending money like drunken sailors. What is fair about Obama’s plan. First we subsidize the banks that started this mess and now we subsidize the people that lived beyond their means or should have never been given a loan and we the tax payers, the 90+% that pay our bills, have to subsidize the jokers….

Remember when dissent was the highest form of patriotism.

Define Socialism

In some of the things that Sntelli said is true, most of these people who took these mortgages out, knew that they could not afford them, but I understand how pressure from a Real Estate agent can push someone into signing the forms. I watched on TV about a couple that is behind on their house payments but are driving two big gas hogs cars, now to me, if I was on the verge of losing my home, one of those gas guzzlers would be long gone. Many people also want their mortgages redone for the prices the homes are worth now, and who will absord the difference, rest of us taxpayers. I say only help the ones that have had a medical emergency, but not the ones that have foolish spending habits (ones that are in debit way over their heads).

2009 The year Obama turned the U.S. Into a socialist country.

It amazes me that so many people still don’t understand that the Wall Street bailout was created by excess and greed… no problem bailing them out though, they own three or four homes… they are the ones who benefit from the much touted Capitol Gains tax the Repulicans are always pushing. And folk have bought the Republican’s false cry that some how Freddie and Fannie caused the housing bubble… Nope, sorry, this spiraled out of control when the same “Bond Traders” bundled prime and subprime loans for houses together (inflated their worth) and traded them all over the world. This made it difficult for individual people to negotiate with their lenders (something they would have done if they hadn’t been bundled as derivitives)plus excessive foreclosures caused folk who were not in foreclosure’s house to lose their equity, which means even if they got in trouble and wanted to sell they would still owe the lender even if they sold… of course usually they didn’t want to sell since they actually lived in their home, but it also meant that if they wanted to make a loan they no longer had the same base for collateral. You following me? Okay, if you are then we have a lot of folk who have lost their jobs and investment money in 401Ks (escalating in the last 3 months) Okay, still with me. If you lose your jobs, then after you’ve exhausted your savings then you are left in a terrible situation the longer it drags out. Now you have no money to pay your mortgage and on top of that your house has less equity so if you sell you still owe, your credit score is lowered drastically and it may make it impossible for you to rent and apt. Now your family is bordering homelessness to no fault of your own (remember businesses large and small are laying off)and you find it difficult to find a job…no job, no money means no health insurance… and now you are homeless with no health insurance and who will be the entity you turn to…. you guessed right if you’re intelligent… the government…. why, because this spiral has enveloped some of your most responsible family members too. Now, on the other hand, the Bond trader, making millions regularly (not the average 30,000 a year) has money saved, four houses, so even if they sell two they still have two homes and a boat (that’s where the capitol gains whine helps okay) and even though you don’t have a job, you’ve got your statch I would hope. Okay now the government bails out your company (not you necessarily) you get your job back or maybe even you’ve kept it and you’re appalled now that the stupid gov is going to bail out these silly, shiftless one home owners…. oh wait, even when you lost your job, you could have filed bankruptcy and kept some of your homes, your boat even and gotten a tax break, but guess what under the current laws that one home owner wouldn’t be able to save his/her home in bankruptcy – why -because they were dumb enough to actually live in it.
So you see I understand completely why bond traders are mad, they are after all “selfish, narcissistic by nature,” otherwise how could they live with themselves after begrudging their neighbor, friends, family or even strangers who fell on hard times.

I am glad Gibbs called him out on this. Maybe if they do more of that it will expose the Limbaughs, Hannity’s,Santelli’s and the other hacks for the liars that they are. Instead of being part of the problem why don’t these morons work on solutions!

Mr liberal hating Bush was the first to ask for over 1 trillion dollars to help stop the tide of bank failures and foreclosures. I still have not heard any Republican explain that. If Bush, neo-conservative to the core thought it was needed and badly, enough to ask for a jaw dropping 1 trillion dollars in SPENDING overnight…then I’m thinking that maybe, just maybe the Republicans on here are not finding out WHY. Explain your President, then I’ll explain mine. I think you are not understanding or taking the necessary dull study time to actually research what a “viscous downward spiral” is as it applies to the this housing crises and how the entire economy, nay the entire world are involved.

Obama’s trying to get along with the right. He’s been bending over backwards trying to accomodate them without bowing down to them. I think it’s time he does a “forget you” (i do so what to use more colorful language for that) and doesn’t even try to get along with them. Then, at the same time, look into and go after the repub. party and shine the light on their misteps and downright criminal behavior from the last 20 years. Plenty of fodder there from Bush and Cheney right on down. I believe there’s a lot of people on here who would be a lot less mouthy on here if they knew the full truth about the individuals they’ve been following.

Jim, your renter won’t be directly helped by the mortgage bill. It’s for homeowners.
At $30,000 per year he is unlikely to receive any direct help from the stimulus bill unless he has a number of dependants.
On the other hand, an improved economy could offer him more job security.

Ranger – No one is mistaking your being totally uninformed as “elitist”
So, I take it you’re offering help to your neighbors? You offer to pay peoples’ mortgages for them because of the mistakes they made?

And where was Mr. Santelli’s outrage when taxpayer money was used to bailout failing businesses?

Hows this for a solution. Immedaily cut funding for the war in Iraq and Af-stan.
burn the remaining tarp funds. and stop funding more roads that are used by the fuel burning vehicles.AND stop Inflating the $! We are is deep debt! Both parties are too blame for this “crisis”. the true crisis will come 30 years from now when we will have wheelbaryls of cash and a US bond rating in the tank that even China wont float.

Mr Gibbs did not make the case. In fact talking in the normal Obama blah blah no facts just white wash he made Santelli’s arguement clearer. The SPENDING bill doesnt help business. It doesnt provide for the one thing that is needed, GROWTH. The bill is just spending that doesnt help or fix anything.
Mr Gibbs, I am out of work and think this. Maybe you should crack an Econ 101 book and read it instead of the junk coming from the White House.
If you could make 1.5 Trillion for every trillion spent then spend 1 trillion an hour and make us all rich.

People who are outraged that their tax dollars are going to help American Familys stay in their homes never complained about their tax dollars being used by the Bush administration to start a war that no one wanted and to kill thousands of innocent people. You need to reevaluate your values. That stupid war is what sunk America.

Helping people stay in homes they overpaid for and couldn’t afford to begin with, solves nothing. It just delays the inevitable.

Yeah, lets just ignore the housing problem instead…which, of coarse, is how we got into the housing crises. Which has led to a financial collapse of the banks. Which led to stocks dropping like a rock. How are your 401k’s doing? Dont you wish they had not ignored the problem?

A lot of what President Obama seems to want to do has me thinking of the things Jesus did when he was here. President Obama seems to be influenced by the teaching of Jesus. You know helping your neighbor, caring for the sick and elderly, helping the poor. Yet there are you that have a problem with that. Well blame Jesus for having this effect on our President. I think President Obama actually beleives in Jesus and he wants to do the some of the things that were written in his teachings.Our president is mocked for that. So I guess since some of you disagree with him he should stop right? Please. I don’t think so.Godspeed President Obama

Any of you idiots know what socialism is? If you knew you wouldn’t be saying it… Rush hates you btw.

He only said what most of us are thinking. I live in California we not only have to pay for Osama’s housing fiasco but have to pay 5 billion to support the illegals. We need to have a march on Washington to tell them what we think. We need to take back this country from the irresponsible congress.

I think that anyone in favor of the stimulus bill should pay for it. If you’re not in favor, you and the future generations of your family are excluded from paying for the plan. How’s that for fairness? Or how about just the people that voted for Obama pay for it?

TV….LOL…Yeah and he learned that listening to that racist pig Rev Write…LOL!!!!!!!!!!!!!!!!!!!!!

Santelli is right on. Not only does this plan help people who should NOT have purchased their homes, but it sets them up to Make Money off the Tax Payers while people who were responsible could lose money. Two people bought at the peak of the Housing bubble. Buyer A does everything right and is paying his mortgage. Buyer B could NOT afford their house and gets a sub-prime Mortgage. Both Paid $400,000. The market is 25% down. Person B gets his New Mortgage sponsored by the TaxPayers for $300,000. Down the road when the Housing Market goes back up, Buyer B will make a lot more money selling their home than the Responsible American who did everything right. Is this the America you want to live in?

Thank you everyone who voted for Bush. I hope you are enjoying the destruction of the economy. Hope you still have those “values” because you are going to need them now.
By the way, sound bites are bad sources of information. The wall street guy who was yelling on TV obviously does not know anything about the plan.

It’s just so amazing to me how all the so called experts kept thier mouths closed for eight years while Bush and his stooges destroyed this country.
We live in a world where the media tells you what they think you need to hear. they spent so long going on about Iraq and never told you anything that was going on. Did you know that Bush asked congress to regulate fannie/freddie, saying they were on a slipperly slope down, but Barney Frank said NO, THERE’S NO NEED TO WORRY ABOUT THEM.

Interesting how sensitve the administration is over tax payer’s anger and appropriate criticisms with rewarding poor performance, poor personal decisions made by the sub prime beneficiaries. We all know this is little more than a spending spree by liberals and a few RINOs. Standby folks; there’s going to be a lot more scrutiny as we few tax payers, we fiscally responsible become more and more burdened. Remarks made earlier this week by Obama aid that perhaps, just perhaps bankruptcy for Detroit IS an option. No kinddin’ Let’s just see how much money goes down the drain now. I’m seething. If nothing else, maybe folks will begin to appreciate the merits of living within your means.

Matt,
I think that anyone that opposed the plan then should not be able to refinance a loan! You don’t live on an island idiot! The systematic mass of the economy does impact everyone weather you made “good” decisions or not!!! Go move to Haiti, where “Pure Capitalism” is the rule and everyone else starves!

We’ve had 2 democrats in office since (and including) Jimmy Carter, and Congress has been decidely republican until 2 years ago. ”
Correct… Ever wonder what the reason is?
After these four years, we won’t have to worry about another Dem in office for sixteen + years.. if we make it that long.
Posted by: Marshninja | Feb 20, 2009 4:55:54 PM
Keep dreaming. People are sick and tired of the GOP hypocrisy and their no attitude as well as their old, tired views. What did they do in their 6 years to ward of this mess? That’s right not a damn thing. They are as much to blame as everyone else.

Thank you everyone who voted for Bush. I hope you are enjoying the destruction of the economy. Hope you still have those “values” because you are going to need them now.
SWEETHEART – YOU NEED TO STOP LOOKING IN THE PASTS. THINK ABOUT WHATS HAPPENING RIGHT NOW. WITH OBAMA’S SLOPPY SPENDING SPREE HE NOW OWNS THE RECESSION. WALL STREET DOESNT LIKE OBAMA, THE DOW HASNT MOVED UP ONCE SINCE HE WAS ELECTED IN NOV, AND IS NOW AT A 12 YEAR LOW.
I DO LOVE HOW YOU HIGH SCHOOL/COLLEGE STUDENTS GO DEFENDING HIM. GET INTO THE REAL WORLD AND YOU’LL SEE THAT MIDDLE AMERICA DOESNT LIKE OBAMAS PLAN FOR THE COUNTRY.

Mike posted:
I have always found it amazing that the lazy poor people that live in project’s with there 4 and 5 kids who pay 30 dollar’s a month rent want to complain about rich people like rich people forced them into there situation what ever happened to personal responsibilty what happened to accepting the choice’s you made lol rich people are rich because they made the right choice’s, so if your stuck in the projects follow these simple rules quit having kids,quit carrying quns, wake up nice and early and find a job and most of all quit looking to blame people :)
__________________________________
I agree with some of this, however I am a teacher of some the children of these projects and let’s be real. What job out there is going to make these people rich? Most people are rich because they come from families that have had it for years.Granted there should be a curb on all the baby making, but this is a cycle that started long before this generation. There should be regulation to the assistance these parents receive.Regulation that demands responsibility.

Why do we try to better ourselves, when according to Obama if you do nothing, you get all the help in the world

I love how the republicans would like everyone to believe that the only people losing their homes are welfare slobs who never should have had a decent place to live to begin with. The only people I know who are dealing with foreclosures are middle class working joes who lost their jobs in recent layoffs, and a few upper middle class republicans who overpaid for their McMansions during the bubble and are walking away because they are $300-400k under water. Obama’s plan helps the working joes, but not the underwater McMansion owner. No wonder republicans are miffed.
I also love how the right is so concerned about protecting every unborn child and the sanctity of marriage, but when it comes helping your neighbor they’re ready to throw them to the wolves. Nice family values you got there!

What a horrible, dishonest, downright shameful argument Gibbs makes. Just because Santelli works on Wall Street somehow this whole crisis is his fault? I guarantee Santelli never in his life traded a derivative. But I guess anyone who has any connection at all to Wall Street is to blame? What about people who trade stock? What about mutual funds? 401k? Heck anyone who put their money in a bank is to blame because of what the banks did, right Gibbs? Gibbs should be tried for slander and fired immediately.

“I work in the financial industry,”
Enough said – based on your post, you shouldn’t.

Santelli echoed my sentiments exactly. There’s nothing in Obama’s rescue plans that will benefit me directly and the indirect benefits that Gibbs mentions in his rebuttal to Santelli are just White House spin. I’m the type of person Santelli was representing. I’ve lived my life frugally, never gambled on Wall Street, and been cash-based for the past 20 years. Instead of taking out loans to stretch out our paychecks so we could buy more, we lived frugally and paid off our first mortgage in 7 years, and then bought nothing else major, including another house, until we could pay cash. With all due respect to the name callers who insult people like my wife and me on this and other sites, we don’t deserve to be badmouthed because we see freedom as meaning debt-free first and foremost. Anyone can do what we have done, but you have to enjoy the simple pleasures that life affords persons living in a free country. Make a sack lunch and spend an afternoon at the local library. Go to a local park and feed the ducks. Ride a bike. Plant a garden. Visit an old folks home and bring the people there a new pair of socks and some new magazines. The list is endless and all of it costs nothing except time. Try it this weekend, everybody. You will feel GREAT on Monday regardless of your personal situation. Turn the TV off and go do something for someone else – because the person it will most benefit is you. Hello, the weekend is here!

stdntDrvr:”I work in the financial industry…”
Right there you lose all standing to complain about a $75-$250B bailout of homeowners after over $400B has been required to just start bailing out the financial industry from going bankrupt due to their own greed and incompetence (over half of the toxic mortgages were lent by entities not under CRA regulation at all, so you can’t blame the government…).

Mad:
While my renter won’t be helped, others like him who haven’t yet been capsized will get some help. Working with my renter has opened up my eyes to the reality that, in more circumstances than I’d like to admit, “There, but for grace of God, go I.” Thanks for listening.

Why would we listen to any of you Wall St. Guy. Where were you when these two guy were stealing a combined 60 billion together.Wall St. analyst have no pull with America, you all sat back for eight years and said nothing while we were robbed. Hint, maybe all the layoffs had something to do with all the foreclouse you think. Santelli you are an idiot.

New York City has 8 million residents. Of those 8 million, 40,000 pay all the taxes. I’m betting that many of those 40,000 are the “Wall Street fatcats” that you all love to hate. At what point do the parasites feel the taxpayers have paid enough?

“THIS IS WHAT THE PROPOSED PLAN DOES.”
There you go talking facts to people who don’t want to know from facts. They prefer their uninformed rants.

Dan:”The people who are against this stimulus bill”
Two points:
This has nothing to do with the stimulus bill. The discussion here is dealing with the allocation of the TARP funds pass under the Bush administration.
Anecdotal evidence is useless. I am a homeowner who is having no problem with my mortgage and I hope this passes simply because the sooner financial markets stabilize the better EVERYONE will be.
Republicans are quick to point out a rising tide lifts all boats but apparently oblivious that a hurricane sinks all boats too.

“it’s the government allowing them to refinance into a standard mortgage without the 20% equity stake – so they have a chance to pay off underwater mortgages without walking away” Posted by: jhw539
jhw539 – Why do you think these people didn’t take a standard mortgage when first buying their house? Rates were at historic lows for years – 6 and 7 percent. Ask yourself, why would someone take one of those fancy high -interest loans? I think you know the answer.

Santellii is trying to drive up ratings by being outrageous and in the process is stirring up controversy while pandering to the right wing. He deserves the ire of the American people who are struggling in these hard times. I deplore people like him.

let me get this straight..
I have to pay for someone’s home, because of Fannie Mae’s and Freddie Mac crummby lending practices?
I can’t afford a home of my own, and how am I supposed to even make rent when this plan goes through and I am stuck moving back in with my parents.
So much for Obama only taxing “rich” people, sounds like the little guy gets the shaft again…

” it took her 6 years and 5 colleges to get a communications degree from Idaho”
——————————–
A degree from an accredited institution regardless of the financial struggles, transfers, etc. is still an achievement. I applaud any person for persevering and getting the degree no matter how long or how many schools it takes.

Think Mr Santelli is just trying to avoid the guillotine of an angry public. After all, he’s one of the guilty fat pigs in top hats who allowed the crises to build, caused the crises by his greed, and looks the other way while America burns. Have your tea party, we’ll be waiting for you on the shore.

Where was his rant during the wall street bailout?

Barack Obama in the White house and the stock market is down 2000 Points! Santelli is right and so are the ALL the folks who agree with him on the trading floor.

Sean
Try and stick to the argument… The first thing Bush did in the W.H was to CUT taxes, not increase them through back door means. Taxes were not increased for the Iraq war. So either way, you are wrong. You are making an apples and oranges comparison and it doesn’t hold water.
Leave the monkey comments out if you please..
****************************************
I don’t remember this Santelli guy making a peep as Bush and the repubs were wasting 1 trillion dollars over in Iraq, never to be seen again. But spend American tax dollars in and on Americans where the money will keep recirculating and this monkey shrieks hysterically.

Only about half of the original $700B TARP money was used to prop up the Banking Industry, what precipitated TARP was a “run” on Money Market accounts to the tune of $550B. The Treasury thought the Banking system would collapse without TARP money, no one is sure who made the run on MM accounts. The Stimporkulus Bill was not properly vetted and you can put all the lipstick in the world on it, but, it is still pork. Now, we are having another “emergency” payout going on that may or may not be “the” solution. Rick Santelli has a right to his opinion without being “silenced” by Obama’s Press Sec. There are inherent flaws in the House Bailout, just as there were at Freddie Mac and Fannie Mae and the CRA which really started this mess. I guarantee you no one wants to see one of our fellow citizens shoved out into the street. There is plenty of blame to go around, Politicians, CEO’s, Homeowners, Mortgage Brokers. This is really about future choices, do you want to take personal responsibility or do you want a colossal Government running every aspect of your life. My choice is Personal Responsibility, which used to be the American way.

I own my own home outright. I have never had a dime of government assistance othe than college loans every dime of which I paid back on time and with the requisite interest. I have started and run several successful companies. I have never outsourced a job to India or China, unlike most of my oh-so-patriotic competitors. I’m now doing my best to keep ALL my AMERICAN employees employed.
I’m an old fart, and all my adult life I have listened to Republicans rattle on about fiscal responsibility. And yet when I was a young man our national debt was not even a trillion dollars. After Reagan, Bush, and Bush (Clinton ran surpluses and shrank the govt – and they tried to paint him as a commie) we are now at almost $11 trillion in debt, and the Iraq War is projected to cost another $2 trillion before we are done. So these born again fiscal conservatives are like the born again Christians on death row (or the White House) to me – after living immodestly if not immorally to an insane degree they now want to lecture Obama, who is struggling with the mess they made, on fiscal conservatism? They are shameless.

MarkS7177…What are you doing watching a re-run of one of Obama’s speeches! LOL! Is that all you libs can come up with. Obama is a school kid who got his feeling hurt because someone spoke out against him. LOL!

jks,
The rating agencies are more to blame than CRA. The rating agencies and a “make and sell” business plan by most banks. They should have remained banks and stopped trying to be “high performing financial institutions”.

After I saw this mans rant yesterday, I thought for sure he would be fired. How could they keep this guy around. He is on NBC and isnt the CEO friends with our Prez, in fact isnt Mr. Imelt (sp?)on some new bored with a many very smart CEOs? He sounds like he is trying to start a riot. Is this what are Country has come too? This is not what we are all about is it? Wow! Why is he second guesing our Leader? I think this guy should be on Fox.

I love stories when political experts criticize economic experts in issues regarding the economy. The sad and unfortunate truth is that the average American got too greedy and purchased a house that they were unable to afford. The only solution to this problem is a massive decline in home price until home prices and income meet equilibrium again. Washington giving 9 million homeowners relief is merely delaying the inevitable and wasting billions of dollars in tax revenue. There’s a very good reason why Mr. Gibbs is the press secretary and not working in the commodities pit in Chicago or on the trading floor on Wall Street- he should stick to politics.

The old adage that parents tell her children “make good decisions” is no longer accurate. This new administration is teaching our children that immoral responsibility is okay, and Rick Santelli told it like it is—he told the truth!
The government is giving billions to bankers who took “insane” risks with your money. They acted foolishly, reckless and irresponsible and made billions doing it.
The government is giving billions to the Auto Industry who by errors and poor judgment drove this industry into the ground MANY years back.
The government is giving billions to those people that could not afford the homes they bought and forcing the taxpayers to support them financially just the people who showed a lack of responsibility and no knowledge of what it means to save and live within your means. Not those people that have already lost their homes, they will be thrown under the bus; not those people that took out the rising arms in their payments overtime and didn’t understand the consequences, or were mislead by the banking or housing industry; they too will be thrown under the bus.
The government is giving billions of dollars to states that spent wastefully during the prosperity years.
What message is this sending to our children and what kind of life will they and their grand-children have saddled with the trillions of dollars that Mr. Obama is giving the reckless, irresponsible, out of control people — will they suddenly mend their ways?
Solution for all America seems very simple. ALL people that own homes can refinance at 2% or 1% and that would immediately make life easier for ALL home owners in America and put money into their pockets and STIMULATE the economy overnight. That would make it easier for ALL Americans to buy new homes and live the good life. Bailing out those that should not be in the homes in the first place will not set the economy on a good footing. Give the money to businesses (small and big) that have a record of fiscal responsibility, that have been successful—let them grow and flourish in America. Let them hire and create jobs! Reward effort and success! Make America strong.

Santelli is correct. Barack knows this and that is why he sent out his attack dog Gibbs to ridicule and discredit him on national television. It’s pathetic and unbecoming a new President, and shows Barack’s “audacity” and immaturity. Cable TV helped get Barack elected, but God forbid it dares to state the truth now that he is safely in the White House. America now longer has a truly Democratic president. No, it has an “American Idol” winner.

First Obama comments on Rush Limbaugh and then Gibbs on Santelli.
It’s the freakin White House. Are they going to take exception everytime a media person says something they do not like?
Whether they agree with people’s criticisms they need to develop a tougher hide quickly.

MarkS7177,
I covered your point with the following comment.
“Technical Definition – Government ‘continually’ micromanaging the economy (not just short term in a crisis)”
Read a little more carefully and you won’t miss things.

Hey proof
Name calling is very shows lack of education. So we will try to educate you.
If the goverment is giving welfare recipents cigarettes free of charge then you are correct. But if the welfare people are buying their smokes where do you think the money comes from?
Also if you are a smoker then you are paying twice. THINK ABOUT THAT. And I said all of that WITHOUT CALLING YOU A NAME

Santelli is right on his words. People like me at the age 67, worked for the last 40 years and has lost more than 300k in my stock and mutual fund and lost 50% of my home equity but has not missed any mortage payment or credit card payment and going to receive $13 per week stimulous packet payout adding more than 1 trillion dollar debt on me and my grand children. On the other hand my next door neighbor, who has hardly worked in his life, bought 500k house in the yaer 2006, making 0 payment and 0% loan for 2 years, and now he is unable to pay $2150 monthly mortgage, has no job, on welfare and food stamp and have 4 kids. He will surely get free medical insurance, more food stamps, more welfare check, more children credit… you name it, he is leaving in that house for the last 3 years paying nothing and may live more by getting further add from the stimulous packet. President Obama, tell me what sins we have done to get such punishment?

The ultimate litmus test should be whether someone can afford the payments on the principle of their present mortgage if it were converted to a 30-year 0% fixed rate mortgage. If they can’t afford that, then kick them out of the house. Whatever is done, the principle on their present mortgage should not be reset nor paid for by taxpayers. Whether the present house is underwater is irrelevant – they borrowed money and they should pay it back.

I have a rake! I’m in my drive way, shaking it at those darn kids! Vote McCain! In the old days we never borrowed money because we were too poor! You have no values!

If you think this is bad, just wait till inflation sets in from all this money that has been printed!!

Gibbs isn’t a press secretary. he’s the adminstration’s propaganda secretary. welcome comrades!

A year from now, when the US has averted disaster, 80% of the US will be forever thankful to these policies! The other 20% would rather we fail and the whole country burn to the ground like Rush Limbaugh. The proof is in the pudding! BUSH/CHENEY had 8 years, its the adults turn now!!

Hey, Julie,
Here’s a news article (from the google news aggregator) that touches on the real economic effects of the housing and credit collapse: deflation.
“US annual inflation wiped out, deflation looms
8 hours ago
WASHINGTON (AFP) — Annual US inflation disappeared in January in the weakest reading in more than a half century, data showed Thursday, stoking debate over deflation risks in the recession-mired economy.”
So, yeah, you have no clue.

Julie,
Want to go back to the “gold” standard then, that battle was lost 75 years ago because it was a bad idea that did not allow for flexibility. As long as we raise taxes when things are good again instead of cutting them as Bush did, we will be ok with inflation.

the plan might help some folks, but after reading it; i do not have a great deal of confidence that it will live up to the billing.
I think the White House is feeling the frustration of the situation and rapidly evolving systemic risks to the economy. They cannot keep their libertal jet setting congressional leadership in line and special interests.
Its looking more and more like the GOP congresses and White house of the previous 8 years. Where is the change!!

marks7717….2 years ago you could get a loan with no income.it was called a stated income loan. whatever you stated was sufficient. no money down on top of it. please dont quote me your education because i have equally as much and then some as well as experience running companies and sitting various bords.

i agree 100%. Obama is robbing us blind. These people can go rent a place like the rest of us. If you can’t afford a house, don’t buy one!

It is so much fun watching the dems attempt to tack political jelly on the wall. The new administration handles this economy and country like a monkey copulating with a football. Look out America, we are only a month into this new improved People’s Administration of the Socialist Peoples Republic of America. The dems need to think about new resumes and relocation before they face reelection. The dems has this nation as messy as a soup sandwich. Stayed tuned for another exciting new week of political high jinks as the dems govern this nation like a sand lot football team.

“Are they going to take exception everytime a media person says something they do not like?”
Yes, they CAN: remember the “law enforcement” effort against media nay-sayers during the Missouri primary?
People are forever calling the “Obama” organization “socialist” or “communist” — when in fact they’re corporatists who use Stalinist tactics against critics.
Will critics who cross the organization start having plane crashes and aneurysms? On talk radio, some HAVE lost their shows …

freedom of speech is a basic tennant of this country and many a good persons have died for this country defending our way of life. santelli is entitled to his speech and his dissent.his points are quite valid and gibbs is poor choice as the spokesperson for this administartion.

JWENCH
Maybe you should start thinking for yourself instead for swallowing every line from the Huffington Post.
People will stop listening to Rush and Hannity when they are wrong..
So far, they haven’t been…
Ask yourself, do you really want to be paying for someone else’s home?
Ask yourself, do you really want the stock market to continue to crash?
Blame the republicans if it makes you feel better, but at some point you are going to realize that finger pointing isn’t fixing the problem.
And maybe liberals should think about the problems before the spout off at the mouth with Politco and Huffington Post talking points
Posted by: 30 and can’t afford a home and probably never will | Feb 20, 2009 5:38:05 PM
First of all I don’t read the Huffington Post, have I been to their site before, sure. Nor do I go to Politico. Secondly, for that fat piece of garbage Limbaugh to come out and say he hopes Obama fails, that means this country fails. IS that what you people want? I see enough finger pointing from the Republicans.
The difference is I am willing to pay something extra to straighten this mess out. Are you? If these people fail the entire country fails. As someone else said it is all interconnected. What part of that don’t you people get? I don’t have the attitude what’s in it for me, but I am willing to sacrifice to see this country prosper once again.

We are in greater danger of losing our Democracy than becoming a totalitarian Socialist or Capitalist economic system. We have too many ideologues who think more of their perfect economic ideology than their countries welfare. We have a mixed economy and always will as long as we can elect candidates representing mixed economic views. Four years is not a long time, a mixed economy is also more flexible to respond to crisis. The redistribution of wealth has been ongoing since the 80′s, the rich have been getting richer. In America we have money purchasing power and influence. Without campaign finance reform we will have a plutocracy ruled by those who have the money. How dare anyone complain about Obama who didn’t also complain about Bush, who I am sure will go down in history as one of our worst Presidents. I was born during President Truman’s term, so I’ve seen a few. I even voted for Nixon when I was in the Navy. We have had hundreds of Billions spent on Iraq under false premises, and now some who supported that spending are complaining about spending and investing in our own country for their own selfish motives.My friends who are losing their homes are responsible people, but its hard to pay your bills when you are out of work. I think anyone who is lucky enough to have a job and feel no sorrow for those less fortunate has forgotten the Golden Rule (the moral one), the ignorance of which has gotten America into this time of troubles.

“Until we know the amount of bad assets, it is a waste of money to throw any money to banks.”
Well, don’t look now, but they’ve already thrown a few TRILLION to the banks … some of whose personnel presumably have thrown a lot of THAT into countries from which one can’t be extradited to the US.
How would these bailouts and the “housing” plan look different if they were actually an audacious criminal enterprise?

I am reminded of 1933 when FDR aide Harry Hopkins was being grilled by a conservative member of Congress who suggested that the economic problems would “work themselves out int he long run.” Hopkins replied tartly, “People don’t eat in the long run: they eat every day.”
The same goes for sleeping and shelter from the rain: people do not need homes “in the long run”: people need to retain their homes so they will have a safe place to shelter and sleep EVERY NIGHT.
Sometimes I wish we could just wave a wand of some sort, and thereby put all of the nay-saying “conservatives” into cardboard boxes and tent cities for a month or two. Sleeping in another’s “bed” is perhaps the best way possible to understand the true costs of homelessness. THAT would be “higher education”!

Gibbs doesn’t know what he is talking about.
Santelli does. Santelli is the man. He speaks for millions.

marks717… all good. do you find it troubleing however that mr obamas advisor and freinds MADE OVER 100 MILLION in bonuses at FANNIE AND FREDDIE while it was going bankrupt.

Where was Mr. Santelli when Wallstreet sqaundered $380 Billion TARP money?
Can he explain where the money went?
What an hypocrtite.

I am reminded of 1933 when FDR aide Harry Hopkins was being grilled by a conservative member of Congress who suggested that the economic problems would “work themselves out int he long run.” Hopkins replied tartly, “People don’t eat in the long run: they eat every day.”
The same goes for sleeping and shelter from the rain: people do not need homes “in the long run”: people need to retain their homes so they will have a safe place to shelter and sleep EVERY NIGHT.
Sometimes I wish we could just wave a wand of some sort, and thereby put all of the nay-saying “conservatives” into cardboard boxes and tent cities for a month or two. Sleeping in another’s “bed” is perhaps the best way possible to understand the true costs of homelessness. THAT would be “higher education”!
Posted by: Jordan | Feb 20, 2009 5:50:23 PM
amen to that jordan

The same people who criticize were all silent when
$80 billions CASH went to AIG. And today nobody
knows where the mony went.
Posted by: J.
*************************************
Hey J. Since this was a ‘Loan’ to AIG, they are now
3 months overdue on their payment! That’s over
$90 million dollars in interest alone owed to Uncle
Sam! This was money to help insure companies?
Insure what? There nothing left to insure. Oh that’s
right, insure that the bonuses, parties and
entitlements would continue.

@midwestlady: You are correct. Santelli is right, it is his balliwick and he knows what he is talking about. Obama and Gibbs do not know anything.. Tim Geithner, who cannot pay his own taxes, and is head of the Treasury, came out with a plan with no Details and the Stock Market dropped 400 Points. These guys are shooting from the Hip and missing big. It’s a shame because we are the ones who have to pay the price. Obama sold America a Bill of goods, he just cant pull it off.

Hillbilly Housewife:”jhw539 – Why do you think these people didn’t take a standard mortgage when first buying their house? Rates were at historic lows for years – 6 and 7 percent. Ask yourself, why would someone take one of those fancy high -interest loans? I think you know the answer.”
And how is ANYONE served by having those people foreclosed on, saddling the bank with 100% of the property value loss, rather than refinance them into a standard loan? This is the crux of the toxic assets issue. If we can get some of these idiots to payoff the $300k they owe on a $200k house, the toxic asset problem goes away. Everyone is better off but no one can move individually.

Hey Morons, why don’t you take a look at what the Democrats were saying a few years ago about how great Freddie And Fannie were.. and that they had Great Leaders running those institutes…yea Like Obamas pal Franklin Raines who bonused 1.1 Million on a 500k a year salary…hmmm who was selling bad loans and risky loans… yea Keep blaming Bush for what the Democrats started under Perjury Bill Clinton…. Yet now you want bailed out. People have loans that should have never gotten a loan. So now We have the Democrats/Hypocrats still blaming bush for not creating more welfare…. I have no problems offering Aid… But the Democrats keep you down so you have someone to cry too. Lets use logic.. do we stimulate the economy by building a train from Vegas to Cali… if people don’t have money… Now that Obama is going to give me 10 bucks in my check.. I can Finally take my family on Vacation.. What A Joke.. And the man has lied more in his first month than Bush did in 8 Years…… Wake Up.. the dems are have us headed in a Downward Spiral… Nor will they defend this country…Always selling us out.

shendley:”Oh, I forgot! The “enoumous” tax cut, what is it? $13 each week?”
Actually, I’m saving more than $2k next year, but then again I earn enough to get hit by the AMT. (I still think the tax cuts are stupid – the top 10% doesn’t need another cut – and yes, I am giving it to charity.)

Hoover took some baby steps, but would not commit to the scale necessary to rebuild the US economy. The New Deal’s impact took time, but those works projects build the infrustructure that we have enjoyed ever since. The bridges, roads, etc. Now, we need to reinvest in our nation, in our infrustructure, so that the next generation can prosper as well!
The New Deal’s infrustructure investment created the middle class and made us a world power, before that, we were second rate.

scotti…i could be wrong but i am talking about TARP and you might be talking about the stimulus bill.i want to know where the tarp money went.

There is no stimulus package..It is called lets ruin America so the people will rely on the government!

teddymaniac | Feb 20, 2009 5:23:39 PM____ Thank you, thank you, thank you. Of course I’m not happy that tax dollars will be spent to save some people who made bad choices and were irresponsible. But it isn’t just about me anymore, and it isn’t just about Defaulting Dave and Subprime Sally anymore. A lot of the last two decades of economic growth was illusory or unsustainable, and the reasons for that were systemic. Nobody thought it was irresponsible when it was putting money in our pockets, even though the signs were everywhere that it couldn’t sustain itself. Those who rail against the idea of “handouts” should consider the example they’re setting with their demands for “opt-outs.” An economic crisis engulfs the nation and it’s not your problem? You shouldn’t have to pay to help haul the country back up on its feet because it “wasn’t your fault” and “you won’t see a dime?” Even the frontiersmen from which many of us are descended were willing to acknowledge more interdependence than that. The mentality that you’re entitled to have every dollar you pay in taxes benefit you directly and personally is no more admirable than the “handout” mentality you decry.

Woah!! CNBC critized O’BAMA?? How dare they!! After all, they are suppose to be an arm of this government and here they are acting like a news organization!! What’s next….ABC asking a hard question???

Santelli is an entertainer. Unfortunately, the Stock Market is so sensitive, it is affected by people’s optimism or pessimism about the future. Santelli’s hissy fit was not helpful. And, Gibbs is right about Santelli not knowing what he’s talking about. He is NEVER prepared for his newscasts. That’s why he has to always be outraged or riled up. It fills time.
On a more productive note: What can we private citizens, the private sector, do to help the economy? Even if the stimulus and the bail-outs work very well, they are still just a stop-gap measure to keep us afloat until the private sector can come in and get things going.
What it seems to me we really need are some great new inventions. If we can get some private businesses making efficient solar cells, or great ways to store nuclear waste, or faster modes of transportation, or better ways to grow food, etc., etc.
I think it’s up to us private citizens to save the economy. I think the fed government has done all it can do. Soon the states and local governments will be doling out money. Let’s help them make good decisions by looking for new inventions that can generate jobs in the private sector.

Mr. Santelli will never understand the bigger picture with a perspective skewed by greed and self-regard. Agenda-driven rants are shallow distractions. We should all rise above the dogma and remember what it’s like to be a real human-being again. Maybe then we won’t make such a big deal about helping others in times of need.

Where we all of these “in your face” critics when Bush/Cheney were ruining our country, and breaking the law?

jhw539…you have to admit that if the treasury secretary did not pay his taxes he should removed from office. also why do you think he used turbo tax rather than a CPA? most likely the CPA gave him an answer he didnt want to hear.you dont make chump change working for the IMF

lifesajourney…you were there and so was i.

mark just a reminder Democrats were in charge of the house they are at fault

CNBC’s poll about whether this guy was right showed that 90% of the people who voted thought he was correct in his assessment and rant and they would support a Tea Party.
Of course, only smart people are even reading CNBC. The other people are not sure what CNBC even is.
So what, it’s the same idiots watching him that are blaming the democrats for everything under the sun . Of course the poll will come out that way.
Posted by: Peach | Feb 20, 2009 6:18:13 PM
The Obama people are the most thin skinned people I’ve ever seen operate in the political arena which is a pretty tough arena.
Obama whines just a tad too much and it’s rather metrosexual, actually.
If Bush had taken the time to go after the media that regularly attacked him he wouldn’t have had time to do anything else.
Posted by: Peach | Feb 20, 2009 6:16:44 PM
Bush was so far removed from reality that he didn’t know they were bashing him, therefore he should have had time to ward off the impending economic meltdown. Instead he did nothing.

I saw the Santelli video yesterday. I completely agree with him. Nothing political usually excites me one way or another but this is stealing from the responsible to enrich the irresponsible. The whole housing “crisis” has clear parallels to Nadya Suleman.

“most likely the CPA gave him an answer he didnt want to hear.you dont make chump change working for the IMF”
That the hereditary uber-classes (especially) are so CROOKED, and so grasping at EVERY opportunity to act like juvenile delinquents rolling over a convenience store, is one of the mysteries of class in the US.
There’s no excuse for Geithner not paying taxes: the IMF even PRODDED its employees with quarterly notices and ready-made paperwork. Why a person at that income level has to steal is what should make people wonder: how much $ does EACH member of the politicrat HAVE to have before they feel okay about it all?
Why’d the Obama Treasury stonewall FOIA requests for data on the bailouts, while touting hopey-change and transparency? is the real question …

WHY should i work so hard to support those that dont work so hard. heard that comment today and i relly hit home.giving people fish and teaching them how to fish will get you two wildly differnt outcomes.

Santelli was being very foolish and just offering opinions like every one else and not offering solutions. It was very unprofessional. I felt embarrassed by his unqualified understanding of what is going on in real America and the foreclosure problem. He is like Joe the Plumber but with a calculator and pen. The plan is trying to place a bottom on the foreclosure rate and STOP the downward spiral. Does the idiot forget that many predatory lenders were at fault in getting us into this problem?

USA you are right, I might agree with you but I agree with the accountablity. However, do you know what kind of language was put in to the stimulus package? Obama controls what the group can say…..yep censorship at work for you….So we will NEVER EVER get the REAL truth / facts on where our money is really being used for.

It’s obvioius that some of the more “freaked out” posters have not read the program that Santelli was ranting about.
If you’re not familiar with it, please don’t post an opinion. Read it first.

“giving people fish and teaching them how to fish will get you two wildly differnt outcomes.”
The outcomes are identical, from the point of view of the FISH.

jwench…we all want to help our fellow americans and do. we just dont want our government to help themselves before they help others. no middleman is needed.MAKE DONATIONS 100% creditable against taxes and let the community organization of our own choosing help people. its really quite simple…get the government out of it.

It is amazing how many economic experts are on this blog claiming to know all the answers and who to blame. If you claim to know the answer to this problem, then you are not an economic expert. Reality is that if you told the top 20 economists in the nation to each come up with a plan to resolve our problem, you would get at least 10 different plans with the emphasis in different areas.

How come nobody’s addressing what Santelli said? He’s right. Our gov’t is legislating charity. How is that Constitutional? We’ve just become so used to it we condemn those who say it’s wrong.

The majority of Americans agreed with what Rick Santelli said. Have you seen the numbers of people who have seen the video? Millions!!! We should not be bailing out homeowners who did not understand their mortgages. When you buy a house, you take a risk that your property values could go UP or DOWN. If their houses had doubled in value, we wouldn’t be hearing a peep. But because the values went down, AND they couldn’t afford the house in the first place, now all bets are off. Every homeowner in America is taking the same chance and we expect to be treated the same.

jwench…we all want to help our fellow americans and do. we just dont want our government to help themselves before they help others. no middleman is needed.MAKE DONATIONS 100% creditable against taxes and let the community organization of our own choosing help people. its really quite simple…get the government out of it.
Posted by: catman | Feb 20, 2009 6:38:17 PM
I don’t disagree with you, but these are unprecedented times and even some of the economists don’t have all the answers.
We should all do what we need to do to get this country back on the right track and if that means a few extra dollars out my paycheck, I am for it.

Gosh, the Obama people are still in campaign mode. Will it ever end? Why does the WH deem it necessary to lambast anyone for disagreeing with a stance it takes? First Rush, then Hannity, then the repubs, now a CNBC employee. Is this a sign to come for all the rest of us Americans to be punished if we don’t agree with the decisions of the Administration? For several years when someone criticized Bush, it was being patriotic. If Dana Perino had been still there, she would have just ignored it. These people can dish it out but can’t take it!!!!!!!

Enron baby.

BIPARTISANSHIP is essential to getting all americans behind the solutions for this country. that means that obama should LISTEN and comprimise or we will just continue on our divisive paths. MR OBAMA need to realize that he won against someone who had no chance of winning. rule number one regarding marketing…dont believe your own B.S.

jwench…my company, which i own was philanthropist of the year. i dont mind paying. i want a stimulus bill thst stimulates. this one doesnt. i also have no problem helping readjust interest rates on mortgages if ALL taxpayers can readjust their interst rates on mortgages. not the principal however.
Posted by: catman | Feb 20, 2009 6:54:37 PM
I am reserving comments on the stimulus and the housing thing due to the fact noone has a clue what the outcome will be. I think for him to nothing would be irresponsible.
Kudos to your company for helping others :)

jwench…so I guess you don’t mind your taxes going to someone that custom built a house 3 years ago that really cost $260K 2500 Sq. ft. but the owners like to live above their means because they got an adj. rate at 4% and a second note for 80K on an adj. rate. So their total loan was around 340K they only make 70K a year and put 0 down. They used the 80K to purchase a Harley, new car, and go the the NASCAR race in Arlington TX and Harley rallies. Now when interest rates increase, gosh they can afford their house payment. But their girl still plays select softball, the boy plays club football, and baseball and the kids got 4 wheelers to ride in all the neighbors yards. That is where OUR tax money is going to support people like my irresponsible neighbors.

Santelli certainly has the right to his opinion, which is all it is. He forgot to mention all of the crooked loan brokers out there that screwed people out of their homes. It is a tough pill to swallow to help someone who truly cannot afford their home, but it is even worse to let people go homeless because of the loss of a job. This is America and Santelli has the right to voice his opinion, but he needs to understand ALL of the facts before he shoots his mouth of in disgust otherwise he just looks stupid.

Santelli wants a vote? Ok, here’s one for Santelli as Chief Loudmouthed Moron. He’s just another hack using his commentary to make a name for himself. What an idiot!

I applaud Mr. Santelli for speaking the truth. Thank You Mr. Santelli!!!!

i predict in 2010 most incumbents of either party will be shown the door. we need both parties to solve this.

For the uninformed poster who said Bush did nothing:
Bush warned Congress 21 times about the housing problems with Fannie/Freddie and the sub-prime issues. Once it was during a State of the Union address.
The Dems insisted everything was fine. Why sure it was. They were all getting friendly loans from their buddies at Fannie/Freddie.

Finally some healthy criticisms from the Press! Wow! This is the American way. The Obama administration will just have to understand this process: it’s called freedom of speech. Better ideas will be produced from an open and dynamic process.

“DL, did it ever occur to you that the people who are on the verge of foreclosure were fully employed at some point…”
Of course it has, who says they weren’t? I’ve made mistakes and owned up to them through hard work, patience, and realizing I may not get to go buy that larger home until I’m absolutly ready too.
“…and were approved by the banks for those loans.”
As you may or may not have known, the it is the government who put a gun to the head of these very banks that HAD to give out loans, even to those whose credit history says they shouldn’t! Remember this happened when the Democrats had power in Congress under Bush. And yes, Bush was in charge (I don’t know how he didn’t see this coming.) but know it was a Democratic majority that forced this on to the banks. So blame those evil, capitalistic, banks for this mess, eh?
“Some of you on this board sound as if people just walked into the bank with no verifiable source of income, asking for a loan. Imagine these people losing their jobs because of Bush’s trickle down economics. See, they cannot afford the mortgage any longer, much more feed their children.”
Stop acting like I don’t care what happens to people in personal crisis. There is always a responsible way of a any situation; if this happened to me (losing my job, can’t pay bills, domino effect…) I would find another since the media would have you falsely believe that all businesses aren’t hiring, next if I had something of significant value like a car, I’d sell that and carpool; I would fight like a madman to not lose my home and if it means sacrificing all of my posessions to do it, so be it. Look, if all of this is going turn for the better then we need to stand and fight for it. It takes boldness. Most of us may know what it’s like to be down, but haven’t we learned how to stand up after we’ve had enough?

For the uninformed poster who said Bush did nothing:
Bush warned Congress 21 times about the housing problems with Fannie/Freddie and the sub-prime issues. Once it was during a State of the Union address.
The Dems insisted everything was fine. Why sure it was. They were all getting friendly loans from their buddies at Fannie/Freddie.
Posted by: Peach | Feb 20, 2009 7:14:57 PM
Who is in charge the 6 previous years. How come there is no blame put on any Republicans for this mess. Both parties are to blame. What did Bush do when he did find out that the economy was starting to spiral out of control. That’s right not a damn thing. Oh wait a stimulus bill that we have no clue how the money was spent. Like I said before this just didn’t pop up in the past 2 years, it’s been brewing for quite a long time.

Obama is full of hot air with no oxygen.

it is ironic though that this dissent comes from CNBC. i am also interested in whether CHRIS MATTEHWS still has that chill running up his leg. dissent is good from either side. if it were not for dissent for the past 8 years things might have been worse.

Republican funnel taxpayer money for the bankers and large corporation with tax cut and exemptions. Democrat funnel taxpayer money for the irresponsible poor and unions. In the end, the only group who pay are responsible middle class.
Is there any politicians out there don’t try to rob us ?
Make me regretted years of hard work, saving every dime. I ‘m better of to party like crazy, borrow as much as I can and enjoy it. In the end , it’s won’t make any different. At least, I could have some fun.

I am not going to pretend that President Obama’s stimulus and housing plans are perfect and my hope is, that President Obama’s team will consider payroll tax cuts this Spring. However, Obama two plans are a very good down payment on turning the economy around.
Why? – One the U.S. economy is fundamental strong and is fully capable of turning around without the two plans but with a much longer time line of recovery. The Obama plans certainly will certainly have a positive affect on the key issues they address – infrastructure, healthcare networks, and renewable energy and all will increase our nation’s productivity (only increased productivity will generate job creation and growth in the longer view).
The purpose of housing bill is to stop any future wave of foreclosures and pain. This is the moral and right thing to do in the interest of our citizens.
The financial meltdown that has transpired in the banking and financial sectors did not happen by happen stance or ignorance but by engineering and design.
What Mr. Santelli will not say or ask why did Bush administration reward bad banks that could not even manage a system of inter-bank lending because of their own poor risk management decisions? Do keep in mind, the banks gain to make more money on mass foreclosure business they culled.
I hope U.S. Attorney Fitzgerald is paying attention to Mr. Santelli and his friends because what they are advocating is conspiracy to undermine the derivative securities market based on political and social bias.
Mr. Santelli and his friends at the Chicago Mercantile Exchange and the Chicago Board of Trade are entitle to their political-social opinions but not at the expense to conspire to undermine the derivative or any other securities markets.

threeriverscrossing– thanks for great and healthy insight!

Stop acting like all of us who don’t support this bill want to throw people out of their homes onto the street. Losing your home to forclosure does not equal homelessness! Ever hear of renting??? Home ownership is not an inherant right in this country.

have a nice weekend and may the american people win…..the american people always win because no matter how bad it seems this the best place in the world.

For all of you that are so smart and say santelli doesn’t know what he is talking about keep in mind not one trader on that floor didn’t boo. I think they are a little more informed than you think.
Posted by: stickman | Feb 20, 2009 7:32:19 PM
Oh like we trust any financial types. It’s people like them and their greed that got us into this mess.

I am not going to pretend that President Obama’s stimulus and housing plans are perfect and my hope is, that President Obama’s team will consider more effective payroll tax cuts this Spring. However, Obama two plans are a very good down payments on turning the economy around.
Why? – One the U.S. economy is fundamental strong and is fully capable of turning around without the two plans but with a much longer time line of recovery. The Obama plans will certainly have a positive affect on the key issues they address such as infrastructure, healthcare networks,renewable energy and all will increase our nation’s productivity ( only increase productivity will generate job creation and growth in the longer view).
The purpose of housing bill is to stop any future waves of foreclosures and pain. This is the moral and right thing to do in the interest of our citizens.
The financial meltdown that has transpired in the banking and financial sectors did not happen by happen stance or ignorance but by engineering and design.
What Mr. Santelli will not say or ask why did Bush administration reward bad banks that could not even manage a system of inter-bank lending because of their own poor risk management decisions? Do keep in mind, the banks gain to make more money on mass foreclosure business they culled.
I hope U.S. Attorney Fitzgerald is paying attention to Mr. Santelli and his friends because what they are advocating is conspiracy to undermine the derivative securities market based on political and social bias.
Mr. Santelli and his friends at the Chicago Mercantile Exchange and the Chicago Board of Trade are entitle to their political-social opinions but not at the expense to conspire to undermine the derivative or any other securities markets.

These comments are ridiculous!!!! What people dont seem to realize is that, not everyone whose house is in foreclosure bought beyond their means. People have been losing jobs for a while now. as people lose jobs they are struggling to pay their mortgage. They need some type of help.

catman,
CNBC and MSNBC are two separate networks with very different formats, hosts and content. Chris Matthews is not on CNBC.

“These comments are ridiculous!!!! What people dont seem to realize is that, not everyone whose house is in foreclosure bought beyond their means. People have been losing jobs for a while now. as people lose jobs they are struggling to pay their mortgage. They need some type of help.”
tom- people have lost jobs and struggled to pay mortgages since the dawn of time. My father-in-law lost his job 30 years ago (and then his home) and had to move himself, his wife and his 5 kids into a rented trailer home for a few years. He didn’t put his hand out to the government…he was a MAN and took care of his own problems.

jwench… yeah okay, guys who just facilitate trades are the cause of this. why don’t you go look up the CRA on your google. government was the first to start this problem.
Posted by: stickman | Feb 20, 2009 7:40:33 PM
Did you even read my post? I didn’t say the traders, I said financial types like them. I wasn’t just talking about the housing crisis but the economy as well. Why should we believe anything the crooks on Wall Street have to say? Obviously Santinelli didn’t read the plan.

The political message is clear -
Do not disagree, question or critize
the obama party [or the soros party]

MY FRIENDS… PLEASE, PLEASE, Lets not see things in such divisive ways, Yes there are too many people living beyond their means, and thus must learn a hard lesson and start living within them.
However… THERE are many peoples now who have lived well within their means played by the rules and are now really hurting. I think the problem is corruption in our government and corporations, and both have not invested or had a vested interest in policy and practice thats supports a healthy MIDDLE and WORKING CLASSES, for they are the very foundation and backbone of or country and a good litmus test/canary in a coal mine test gauge for the health of our economy and the worlds for that matter.
As the middle class goes so does our country… It’s as simple as that. This is not a handout, fools, this is and IV drip for a sick man.

eek My question to you is how should we handle the housing crisis? People are continuing to lose their jobs which if they are a homeowner is going to put them at risk for foreclosure. By doing nothing we still end up paying for these people in some other form or fashion so why not come up with solutions to try and keep them in their homes ie, lower payments, lower interest rates, longer contracts etc. Although I am against reducing their principal amount.

What the hell difference does it make what kind of house the anchor lives in? This is getting insane. Now it’s bad if you are a SUCCESS? You should be ASHAMED? What kind of house does Robert Gibbs have? I wish one of those wimpy reporters would have asked these questions. Yea, let’s all be equal and be LOSERS who got houses we can’t afford. I know that a lot of people are out of work and are having $ problems that are not their fault. I’m married to a firefighter; believe me, with 3 kids it’s never easy. But for God’s sake, some of these people asked for this, and WE shouldn’t have to bail them out, and it doesn’t make us BAD PEOPLE if we don’t want to!
Special thanks to all those Obama voters. We are so screwed.

USA “All agree that housing is one of the main issues our economy has…….We also all agree that though Investors at Wallstreet initiated the problem by overspeculating the values of the collaterals via virtual derivatives, they are unable to fix the problem.”……WHAT? WHAT? This problem started when it became a government agenda to get everyone in a home, whether they could afford it or not. …….This started when lenders felt they HAD to give out mortgages to everyone and anyone who walked through their doors……….This problem also started by folks buying homes on the HOPE that somehow, in a few years when their mortgage rate went up, they’d miraculously have much more money and be able to pay the increased rate. All people saw was the artificially low rate and they signed up for that mortgage as fast as they could……now everyone else has to bail them out? Sorry, can’t accept that.

What I want to know is who’s going to buy a house for me??? I’ve paid rent faithfully for 6 years!!! Don’t I deserve a house, too???

people losing their jobs everyday,and the president tells us this is not the time for job creaters to make profits?isnt that how jobs are created,with profits making it possible to hire more workers?

Those of you ranting about this plan, have you even bothered to read it?

Posted by: alison | Feb 20, 2009 8:55:43 PM
Great post.

Why is so much “news” being reported by ABC coming in the form of blogs?

Santelli was 100% correct. I’m one of those RESPONSIBLE people who don’t need any help, money or a bailout. And I don’t want to pay for someone else’s irresponsibility who got themselves into this and brought the entire country down with them by leveraging debt they couldn’t afford in the first place.
BEFORE YOU SIGN…READ THE FINE PRINT.
That is…if you CAN read.

Rahm Emanual worked in the financial markets for a couple of years and made millions between political gigs. He was on the board of FM when the GSEs went off the rails.
Now he is Chief of Staff to POTUS and trying to convince taxpayers they must pony up.
Penny Pritzker owned a sub-prime mortgage bank until the bank failed. Now she is a financial advisor to POTUS, helping him craft the mortgage bailout.
Santelli is a pretty small player by comparison.

lets see! what was the Bush answer. Borrow from china, give to everyone so they can buy things made in China and send the money back to China and we still get stuck with the interest…. Made sense to me Duh. as for why we are in as bad as shape as we are well lets look at the news media. My home was worth 250,000 until the media started saying it wasn’t and convenced everyone of that. BS my home is still worth 250,000 it’s the news media thats not worth a dime.

but he was addressing millions of viewers. So a mistake on his part would impair a large number of citizens
Certainly the New York Post’s derogatory cartoon implying that great harm should be done to the President of USA. I might no agree with the President sometimes,Republican or Democrat, but I do show some respect to that office, being a citizen of United States.There is no justification for a journalist to be so careless and irresponsible regardless his position on the subject.
Posted by: johnc1237 | Feb 20, 2009 9:34:54 PM
While I didn’t agree with Bush most of the time I respected the position he held. When are we going to return to unbiased reporting. People like Santelli, Limbaugh and the likes need to reigned in due to the fact they are dangerous to this country. They incite people by lying. I am all for freedom of speech but these nutbags are a bit over the top.

Santelli is a media hog and a goof ball, He is unprofessional and loves the limelight. He needs to take this crisis seriously and if he has nothing positive to say, he needs to shut up.

President Bush and his Scrooges destroyed America for the sake of enriching the few. President Obama is initating policies that will eventually restore America back to the leadership roll she once enjoyed. If Obama doesn’t succeed, this country will quickly deteriorate into anarchy. That Russian historian that predicted that America was going to breakup into individual states and become a second rate power the way Russia eventually did a few years ago will be a prophet. Will it matter what our politic are or what we think when we are all struggling to survive. President Obama was elected to the presidency the same way that all of his predecessors were. Americans probably should stop the bickering and start acting like we are all in this together. People need to remember back to 911 when Americans came together as one and vowed to defeat our common enemy.

Rick Santelli is a heartless jerk who admits he hasn’t read the plan that he is criticizing. all the folks on CNBC are just right wing liars and hacks. No Facts ever. they want Obama to fail and they are trying to bring this about. Business news should be news and not the views of talking heads. I hope the SEC investigates this channel. if they are presenting lies as true, there should be laws for that-maybe some laws left that the GOP didn’t gut during their 12 years in Congress.
You should see these right wing jerks when they are defending the hundreds of millions paid to our crooked and stupid CEOS who got us into this mess. Or you should see them when they are begging for their capital gains tax breaks. It’s enough to make a decent person throw up
during the elections these supposed journalists were all chanting “drill baby, drill,” just like McCain and Palin-Disgusting what is considered news in America. CNBC in particular is a joke of a news operation.

chris Dodd, now President Obama and Barney Frank have been trying for two years to get the Bush administration to do something about the housing crisis. It was Bush who said there was no problem, just like Larry Kudlow,ultra right wing nut, kept saying Bush had created a GOLDILOCKS economy. He was saying that as late as November of last year. Bush vetoed one of the plans the Dems tried to pass; and even though the Dems put a provision in the Tarp money to help foreclosures, Paulson steadfastly refused to do so. you right wingers seem to have absolutely no knowledge at your disposal. You just make up utter crap and feed it to each other

Santelli just said what alot of us are thinking. Obama has to stop attacking anyone that speaks out against him; to do otherwise makes him look very small.

Hearing Santelli’s comments and reading OBAMA’s plan, it is very clear that Santelli’s was talking about everything but OBAMA’s plan.
There are too many toxic collaterals right now in the bonds that are traded. This creates less confidence in the international Market.
The only way to resolve this issue is to recreate confidence at the traders’ end by eliminating or at least reducing the amount of toxic collaterals, which are american mortgages.
OBAMA’s plan is geared towards having the American people who can to continue to pay their mortgages.
Obviously this applies primarily to the home owners who are playing by the rules and not not yet in trouble.
Under the current circumstances this is probably the best that can be done.
It is not about who profits or loses, rather more about how to stop the down spiral.
In an econimical down spiral it is just a matter of time until those who believe to be safe get sucked in the down spiral…

badger– you sound angry. Why?
Where you always so angry the past 8 years?
Free yourself from anger.
Santelli’s stocks and bonds aren’t doing well. So he needs somebody to blame. The same Santelli was very quite when $380 billion were given to banks and even after it was reported that Wallstreet gave $18 billion of tax payer money as bonuses.
Santelli is just an hypocrite

My guess is there will be alot of digging into Rick Santelli’s backround now. I’m surprised Gibbs is even trashing him in public as they usually let the media do their dirty work. The “money man” on St. Louis radio today says Santelli is right and everyone around him is talking about it.

myusa
“santelli being quite” is a vernacular mistake on your part but we know what you meant… but it stil doesnt make sense… this is goign to be a long four yrs those that warned that this would be Carters 3rd term werent kidding and Im a democrat! Honestly you got to wonder if the same nutcase are getting their late 70s disel cars out of storage.

When do we get the plan to ..
- return our 201k’s back to 401k’s
- return our stock portfolio back to it’s former value
It’s just too bad that those clowns mortgaged their asses off
so if they can get a bailout so can the rest of us
.. or better yet .. maybe like the kid who had his scoop of ice cream fall off his cone, we all learn to live with our choices and move on to a better tomorrow.
.. and please .. will somebody rid me of this pesky Chris Dodd
This guy opens his mouth with the regularity of an unwanted season bringing pestilence upon the land with each and every breath.

Neo
Sen Dodd just happens to be the senator 30+ yrs in office from Conneticut where most oft he CC companies PO Boxes are! thats the problem… other than the fact that he opens his mouth without thinking

JG
I wonder how anybody could possibly reconcile the fact that Obama hired a tax cheat to run the IRS? No red flag there I guess. Are they that drunk on the fool-aid? Hilarious.
With obama there are so many reasons to be concerned, yet it seems the more we know the less they care.

Attacking Santelli is just one of the methods used by Obama and his minions right out of the Saul Alinsky playbook, used by Obama to get elected in the first place. It worked in the primaries and the GE, but now as more and more Americans are finally paying attention because of personal financial problems, it seems petty and quite unbecoming to the party that holds all the cards in DC. If Santelli’s message wasn’t resounding with many Americans, would Gibbs have been so intent on trying to make him look stupid? Not on your life. Anyway, Mr. Gibbs, pretty hypocritical to offer a copy of this mortgage bailout to Santelli to read, when Congress and the American people weren’t offered the same opportunity with the “stimulus” bill. Makes you and the Democratic Party look very foolish.

This is no surprise

After reading some of these comments, it’s pretty obvious many of you here and this DERIVATIVES TRADER don’t get it. There is bad in all these financial fields, but they are still getting help. Same is true in the mortgage department of finances and those seeking their loans… Many went to get loans who needed counseling and trusted mortgage companies who lied and later sold the loans in bundles… you know the story… My daughter was one, but knew better due to my schooling her before she went to seek-out a home loan. They OUT RIGHT LIED to her and so did many others out there. The bottom line is this. Remember the days when you went for a loan and you had to “prove” you were credit worthy? If you weren’t you didn’t get the loan. Well, if the mortgage companies and the banks had done their job and due-diligence, most of those bad loans and the purchasing of the “bundles” by the investment companies never would have happened people…….PERIOD… The lack of over-site is just one of the reasons were in the mess were in. Mr Santilli had better watch his step because it was the uncontrolled derivatives market that is also one of the major reason this country and the world is where it is right now… Look it up people and see for yourself. I’ve been in a successful business for 30 years and talk with alot of people from all walks of life, MILLIONS OF PEOPLE ARE HURTING…. If I had to put the blame somewhere for this mess it would be with lack of regulation/over-site of past administrations… Senator Gramm from Texas taking regulations off the commodities market using trickery in an agriculture bill passed in 05 voiding any regulation..DERIVATIVES BEING PART OF THAT MARKET…. and greed. This housing market mess is damaging neighborhoods and the country. It makes more sense to me to put the $ at the bottom and let it trickle UP. What facilitated what first in this country? This country grew from people coming to American and developing it from the bottom up… There were no “financial” conglomerates here then.. Just people a demand for products and services. This current administaration is at least attempting to fix this problem and if you don’t like it move to some other country… or… Texas… or California….. good-day…..

Let’s have a national debate on CNBC. My bet is Mr. Santelli will decimate Mr. Gibbs and public opinion polls will be solidly in Mr. Santelli’s favor.
Are you up for it Gibbs?

Babs – you said a mouthful. Unfortunately I’ll bet not one in ten people in America understand the Alinsky method of freezing a target and demeaning an opponent. And Obama is following in his footsteps and admitted in one of his books his favorite professors were Marxists. Hillary wrote her thesis about Alinsky. They worshipped at his knees and we’re seeing the results today.

Tinat-”we gace 10 times (750 bil) the amount to wall street who behaved irresponsibly by buying risky investments to get super rich on and this Santelli guy was fine with that but try to help the little guy with 75 billion and he’s outraged”
Wrong tinat-
Santelli was against bailing out wall street and the stimulus. basically he us against rewarding bad behavior. he believes the market will correct itself.
good for Santelli to speak up. I, for one, support a tea party revoult.

Santelli is our voice, expressing the the common man’s rage at the blatant attack on our very Constitution. We believe in proprerty rights, freedom of speech, and the right to free commerce without excessive controls by government. The right to fair representation in Congress is now history. (Witness the Stim “express ramrod job” right down our throats.)
Its just that Santelli slipped through the net of happy face propaganda of the new media screen.
He has been targeted and attacked as a rich kook even by many of the Ominions and Ozombies on this thread.
No doubt the orders have been texted out to them to hit the blogs hard aginst Santelli just like during the campaign against Palin and Joe the P.
We are not just straining now against a tyrannical government destroying our freemarket system to, in BO words, “remake America”. We now have to wonder who among us is texting news of “subsverive activities” to the new Socialist regime.
We retain the right to throw off tyrrany and we will use it.

I think it is o.k. to disagree with policies, however, making it clear that it is your opinion. Other people have their opinion and this is America and based on the comments I have read, many have had the freedom to express them so why say the Obama administration likes to surpress other opinions. Read this comment section….both sides are expressed and printed. Where is the surpression? What I do disagree with is the talk show hosts who have three hours to express their opinion with no rebuttal. Hannity says come on my show and when people do he never lets them speak and express their opinion. Many will no longer go on his show for that very reason…it is a waste of time. Rush says anything he pleases and that is fine but he is getting carried away. We have a president, elected by the people and he does not accept that fact. If the people do not like what he does, they won’t re-elect him…they dont need lies or exaggerations shouted at them for four hours. Let the other side speak and that will be democracy.

I believe we had a vote on republican policies of ” do nothing” easy to say, impossible for the country to survive…After all–it is the “do nothing” policies that brought us to the brink and pushed us over…Guess that is why santelli is a reporter and not a publically elected official-they have no accountability..except if we boycott their programs and e-mail their bosses…good idea

Good for Santelli, it is about time somebody started questioning some of the great Socialist’s plan. The Socialist agenda is that the people become dependent on the GOVERNMENT to solve all their problems. Have problems paying your mortgage because you didn’t engage your mind and your mortgage is more than 25% of your net pay? Don’t worry the Obama administration will bail you out.
Do you see the problem people? We are shifting the blame for our own responsibility on President Bush and anybody else but ourselves. We try to live in the same neighborhood as our parents without the time to build up wealth and then wonder why we struggle with our house payments.
The problem is in our own greed and now the majority want “Change you can believe in” and we are getting that. We are changing from a country that takes responsibility for our own actions (be they smart or stupid) and we are looking to a GOVERNMENT that cannot and never will be able to pay for the money they are handing out.
Here is my message: if your mortgage is over 25% of your take home pay (net pay after taxes) you have yourself in a house you can’t afford, have bought the Kool-aid the mortgage companies and real estate companies sold you and it is YOUR responsibility (not the government’s) to get YOURSELF out of the mess.

during president clinton last term as president he had that so called “surplus” (if anyone can show me on the internet where i can find that surplus, please do…)BUT remember he had a republican congress during his last term.
Under President Bush this economic downfall came to a head just recently (sept of 2008)if you recall McCain’s famous “the fundemantal of this economy is sound” and he had a democrat congress majority since 2006…
i hope everyone is watching carefully how our money is spent and who makes the rules and all the decison on how our money is spent, congress. in 2009 our democratic congress approved a 748 billion dollar stimulus, thus increaing our debt. and yet they harp about the fact that the republicans spend and get us in more debts and yet i am seeing that it is the democrats who are in fact making this debt worse. i recall Pelosi once saying “finally Bush is gone, i got tired of him vetoing my bills!” if Bush was vetoing Pelosi’s 30 million funding for her endangered Marsh mice then i agree with Bush that is is just wasteful spending.
ohhh and where is the MSM, we had heard for years about how awful bush was cuz he didnt care abotu Katrina, and yet in this stimulus there is no money for new orleans. the white house said recently “they have already received money from before they do not need more money”.

cowgirl:
Which is exactly why those banks should have been allowed to fail, as millions of us told Congress in October. The market would have picked up the slack after a while and corrected itself as it always has. Yes, there was incompetence or corruption or both in the oversight end of this. House and Senate Banking committees covered up the looming Fannie May crisis, SEC failed to blow the whistle on shaky securities trading practices and dishonest brokers were allowed to defraud homebuyers with worthless mortgages and banks were coerced into buying the worthless mortagages under pressure from communities and a congressional caucus.
So why is no one being prosecuted?
Where are the hearings? This is part of the frustration the average taxpayer. Where is the accountability? Why do we have to pay for this unscrupulous activity? I’ll take a couple hard years of life rather than submit my children to economic slavery to pay for the misdeeds of others.
If Bush and Republicans could have been pinned on this, they would have been frog- marched in front of all the cable news networks for weeks on end.
Draw your own conclusions.

“So why is no one being prosecuted?
Where are the hearings? This is part of the frustration the average taxpayer. Where is the accountability? Why do we have to pay for this unscrupulous activity? I’ll take a couple hard years of life rather than submit my children to economic slavery to pay for the misdeeds of others.
If Bush and Republicans could have been pinned on this, they would have been frog- marched in front of all the cable news networks for weeks on end.
Draw your own conclusions.”
beautifully said RedNorth-
of course there is no media investigation on the collaspe on Fannie and Freddie both entities were under control of democrats for so long (franklin raines and currently Barney frank). anytime something goes bad in our country, you can bet that a democrat is behind it, esepcialy when the media is mum on it.

Sara | Feb 21, 2009 5:12:33 PM….What was the purpose of Obama’s stimulus bill?

I am a very successful Real estate and Mortgage Broker in CA.
I read OBAMA’s proposal and watched Santelli’s screaming.
Obviously Santelli did not read OBAMA’s plan or has personal problems with it.
President has adopted plans that will help regular Americans and not necessarily Wallstreet.
This explains Santelli’s frustration.
Santelli needs to understand that the economical down spiral can only be stopped by eliminating or reducing the number of foreclosures.
OBAMA’s plan facilitates the refinancing of those homes who are not yet in trouble so that they not find themselves in foreclosure in a couple of month from now.
Following OBAMA’s plan annoucement, many Americans are entering their loan refinancing applications. This plan has immediate effect.
I wish Santelli will really read the plan.

Most of comments posted are partisan rants without merits. Republicans screwed up economy by abolishing their priciples, it is now democrats’ turn to screw it more with even bigger spending. The two party system is increasingly becoming the death toll on America. We need constitutional change to parlimentary system where there are no local representatives and voters can choose any party nationwide, without corrupted local districts, that represent his/her value and policies that he/her supports 100%. There will be hundreds of parties in the country to represent a varieties of interests and social policies. Yes, we may get unstable government or make political process grinding to a halt. But it will be better than two parties that force their policy views on voters who do not truely support their policies.

Santelli is wrong. The only reason the markets have not been able to restore and retain confidence is very simple — Paulson and his Goldman Sachs buddies have not yet been arrested. Once that is done, Santelli will be able to sell again.
Americans want to know where all the missing money that was stolen from our retirement accounts under Bush/Paulson went.

Joe the Plumber or Santelli. Two know-nothing jokes.

AR,
Why don’t you go out and hug a predatory mortgage-broker today. Don’t you see who the real culprit is?

All you self proclaimed “successful real estate brokers” make me puke! You were the ones who pushed people in to these deals they couldn’t afford. While I don’t think most of these types of liar loans should have even been possible, you should have looked out for your customers but instead you couldn’t see beyond your commission. Truly successful real estate brokers want to sell their customers their next home too, not put them in a position where they are certain to go into foreclosure, ruin their credit and have to wait several years to rebuild it before buying responsibly in the future. Don’t even try to deny it; when your customers went to a responsible lender who tried to advise them this may be a bad move, you simple instructed them to try another lender that would put them in a liars loans so you could get your commission.

True to form, the repubs and the dems refuse to take responsibility for the mess they helped create. Both parties are responsible, but the real blame lies with those who took out those loans. No one put a gun to thier heads. “…and the newspapers all went along for the ride.” – Bob Dylan

Thank you John S for providing some clarity on this issue. The Santelli types are angry because the wallstreet welfare program they had hoped and prayed for is kaput. But don’t expect the republi-cons to see clearly on this. Remember their sources of info: Fox, Limbaugh, Hanity, Beck, etc.. Nuf said.