Worried about our leap into blatant socialism? Here’s a spontaneous, fascinating rant by a CNBC reporter on the floor of the stock exchange, talking about the bailout and individual responsibility and rights. A big group of traders join in to express their anger–the silent majority may not stay silent much longer! Here’s the link to the short video, and then click on “more” to see a great pie chart that puts the bailout in historic perspective.
http://www.cnbc.com/id/15840232?video=1039849853
“hOW ABOUT DOING SOMETHING FOR THOSE WHO HAVE CARRIED THE WATER INSTEAD OF THOSE WHO HAVE BEEN DRINKING IT”! I like that line from Santelli.
Comment by Gary Ingram — February 19, 2009 @ 1:41 pm
I liked his quote: “The government is promoting bad behavior…do we really want to subsidize the losers’ mortgages?”
Just yesterday the news reported Citibank needs more money and that their assets are valued at LESS than the money our government already gave them. Why give them more? Just let them fail. If we bail out the bad mortgages, these people won’t be able to pay anyway, and we’ll lose again.
Comment by mary — February 19, 2009 @ 2:15 pm
$4.6 trillion? that is the first i have heard that number mentioned any idea how it was arrived at?
Comment by reagan — February 19, 2009 @ 2:46 pm
“the silent majority may not stay silent much longer! “–mary
another way to look at it is that the ‘silent majority’ is no longer a majority. at least that is what the results of the election last november would seem to indicate.
Comment by reagan — February 19, 2009 @ 2:48 pm
reagan, you may be right on that one. What Democrat honcho was it from the New Deal that said, “The American people are too damn dumb to know what’s good for them, so we’ll tax and tax, spend and spend, and elect and elect?” Only now it is refined to, ‘debit our progeny, mortgage our nation to foreigners, and elect and elect’.
Comment by Gary Ingram — February 19, 2009 @ 4:02 pm
Beware an angry public, reagan. Your pals should be afraid. Tipping point is 15%.
Comment by Dan — February 19, 2009 @ 4:22 pm
Only now it is refined to, ‘debit our progeny, mortgage our nation to foreigners, and elect and elect’.–gary ingram
gary, while that may be the new mantra, the first group to begin chanting it was ‘karl rove and the bushies.’ you aren’t forgetting that president bush inherited a $128 budget surplus, but ran a deficit every year since. and didn’t he fund the wars in iraq and afghanistan with money he borrowed from china? and didn’t karl rove predict a ‘permanent republican majority’?
Comment by reagan — February 19, 2009 @ 6:11 pm
i notice that santelli didn’t rant when the feds gave $700 billion to wall street banks.
Comment by reagan — February 19, 2009 @ 6:11 pm
You are such a Dem, “reagan”, that’s why I need the quotes around your name. Your estimation that the silent majority is no longer a force is totally wrong, in my humble opinion. Some people, disillusioned with the former administration and heavily influenced by the mainstream media, were looking for “change” they could believe in and voted for Obama. But now our reality is a scary, fear-induced, hurry-up socialism, sponsored by the likes of Obama and his Chief of Staff, Rohm Emanuel who said we shouldn’t let a good crisis go to waste because it allows the government to do things it could never normally do. And Vice President Joe Biden, who said he thinks there’s a 30% chance Congress will get this thing wrong. Really inspires confidence in everyone to go out and live their lives as usual, doesn’t it?
Comment by mary — February 19, 2009 @ 6:50 pm
I wouldn’t be so quick to blame Obama, Mary. The problem I had with Obama is that he’s an empty suit; he’s all air — and it’s beautiful — but there is no experience. So far, it appears that he’s let the staunchly partisan Pelosi and Reid yank our president around by the nose. While Obama may want to be bi-partisan, he’s going to have to yoke in his own party to make that happen. The stimulus bill is a disaster because Obama failed to demonstrate the leadership needed to make it work. On that, yes, I believe he failed. But the bailout is all Congress.
Comment by Dan — February 19, 2009 @ 10:23 pm
Poor little ray-gone, wrong again:
The left is clueless, from the unemployed “community organizers” to the lamestream media they pretend – they pretend to sell real estate (amazing how many fakers there are in that business) they pretend to be “transparent” and they pretend to be, well, “reagan” — even when they clearly are not. Sad.
Comment by Pariah — February 19, 2009 @ 10:32 pm
interesting comments. i find it particularly telling that a site that pretends to promote ‘honest information’ lets pariah and others make incorrect attempts to ‘out’ an anonymouse poster and that ‘rational discussion’ includes “mary’s” divisive tactic of labeling people and pariah’s use of the terms ‘clueless’ ‘lamestream’ & ‘fakers’
what is ‘sad’ is that this site and the people who post here are no different than those they claim to abhor, they just come at it from a different direction. imho.
Comment by reagan — February 20, 2009 @ 10:33 am
The problem is, “reagan,” that you’re being transparently disingenuous.
Comment by Dan — February 20, 2009 @ 11:07 am
The election of Obama brings to mind the election of Jimmy Carter. Both woefully inexperienced and both appearing out of the blue. Great editorial cartoon in the Press this morning. Taxpayer with $13.00 additional in his paycheck and his child with a Trillion dollar plus tax bill. Children who have not yet been born to children who also have not yet been born, will be paying for this atrocious Democratic rip off. Don’t bother ranting reagan, nobody is interested in balderdash. We’re too busy trying to cope with the results of “change”.
Comment by Faringdon — February 20, 2009 @ 11:13 am
Children who have not yet been born to children who also have not yet been born, will be paying for this atrocious Democratic rip off.
yes our children’s children will be paying for this. and for the $700 billion deficit bill from the wars in iraq and afghanistan and from the $700 billion tarp passed under president bush’s watch as well as the $152 billion dollar signed by george w in 2008. so far we have $852 billion in bush administration stimulus plus $700 billion in bush administration spending on an ‘optional’ war to go with the obama administartions $787 billion stimulus. seems like the ‘atrocious’ ‘rip-off’ is on both sides of the political aisle. or am i missing something?
Comment by reagan — February 20, 2009 @ 11:46 am
No, you’re not missing a thing this time. But at the risk of appearing old fashioned. two wrongs don’t equal a right, or why add insult to injury. Picking the pockets of children yet unborn is NOT the kind of change people want. I was told by my parents and I told my children, just because somebody else is doing it, (or did it) doesn’t make it right. Besides, this obscenity is so loaded with pork that this nation will end up with trichinosis. Change, what change? Just Democratic politics as usual. This time with rather more Socialism thrown in. Sorry reagan ( and IMO it is insulting that you of all people use that name. The obvious insult to a fine man is noted) the American people are not now, nor will they ever be Socialists.
Comment by Faringdon — February 20, 2009 @ 2:54 pm
faringdon have you read the bill that you claim “is so loaded with pork that this nation will end up with trichinosis”, because most of the claims that are circulating on television and radio are false. and i like the way you use the “two wrongs don’t make a right” argument and then completely ignore the first ‘wrong” republican president george bush started the road to ‘socialism’ with his wall street bailout and now you want to forget that and claim it is all the fault of the democrats. sorry, but as i stated earlier this mess is not of one party. i do enjoy your usually calm and polit replies so i’ll overlook the attempt to insult me and my views with your disparaging remarks about my name. i suggest you and marry get off your hang up about that.
regards,
reagan
Comment by reagan — February 20, 2009 @ 10:27 pm
Community Reinvestment Act of 1977
Fannie Mae Eases Credit to Aid Mortgage Lending
Franklin Delano Raines
The Real Culprits in This Meltdown
Comment by Bill — February 21, 2009 @ 6:54 am
I should know better…but here I go. First, I certainly am not “ignoring” any of the wrongs. What part of “two wrongs” would constitute ignoring the first wrong? I didn’t like or approve of the first bailout anymore than I approve of this one. And sorry, but the Democratic party has always been known as the “give away” party. This so called stimulus bill is quintessential Democratic policy, on a scale that simply boggles. And yes, I have read much of the bill. I would ask why you assume that I or anyone else get their information strictly from the press? This stimulus bill reeks of special interest a la Nancy Pelosi, a limousine liberal to rival the Kennedys. As for insulting you, why do you make yet another assumption. You obviously loathe any and all things Republican. So why use “reagan” if not to poke a sharp stick as it were. In my comment I made it very plain that, given your political leanings, I feel that name belittles a fine man. How ludicrous would it be for me to take the name Clinton or Roosevelt or, heaven forbid, Lyndon. Same difference. Regards right back at you!
Comment by Faringdon — February 21, 2009 @ 10:09 am
The whole partisan thing is nonsense. There is only one party in this country. Some of them wear red jerseys, some wear blue jerseys. They distract us with their sport while the country goes to hell. It doesn’t matter who started it, the question is who has the balls to end it?
Comment by Dan — February 21, 2009 @ 10:21 am
As an addendum…Received knowledge states that “The 19th century was the century of Britain. The 20th century was the century of America and the 21st century is the century of China”. Considering that, in addition to previous loans from China, this “stimulus” bill will add over 1 Trillion dollars to the U.S. debt to China, it would appear that the American taxpayer is funding Chinas rise to controlling super power. I cannot help but equate this situation to another. America, under FDR, sold tons of scrap metal to Japan. This fed Japans military buildup enabling them to launch their part in WW II. Without our help, would their aggressive invasion of Asia and attack on the U.S. have been possible? Will history repeat itself? And, as for this stimulus, in some 1100 pages nowhere will you find constraints on implementation. Yes, I’m distrustful and cynical about politicians. At a guess, this gross outrage will stimulate political interests. Anything that trickles down to the general population will be accidental. And reagan, just how do you like the fact that you are going to be paying for the irresponsible action of others.
Comment by Faringdon — February 21, 2009 @ 10:26 am
If the Democrats, who have controlled both houses of Congress since 2006, did not agree with the original Wall Street Bailout last fall, they could have voted it down. They had the majority to do so. But they did not and they are responsible right along with everyone else who voted for that bill and the current, hideously constructed, poorly titled “stimulus bill” that does not help small business or job creation.
Comment by mary — February 21, 2009 @ 11:17 am