Rick Santelli and the "Rant of the Year"

If I try to sell you a bucket of shit for $10,000, who's fault is it if you buy it from me?

Rick Santelli looks like Pat Buchanan with down syndrome.

Rick is a tool. Where was he when Bush bailed out the banks? Probs telling his coworkers how great Bush was.

he was against the bailouts

what's the beef sir?

This guy should run for President. Obama is a Moron!

Uh...I don't know if you are directing this post at me, but....uh, yeah??? Deregulation is what allowed all this to happen in the first place. It allowed the scheme that encouraged banks to write bad mortgages (INDEED, people bought mortgages they couldn't afford...along with a few dead folks). And then the Credit Default Swaps helped further drive many a banks to be hugely over leveraged (Thank You AIG)...So I guess I don't get your point, or perhaps you weren't talking to me.

I may have misunderstood, but my impression is that Santelli is placing the majority of the blame on homeowners who ended up defaulting rather than lending institutions and insurance companies. This position bothers me, since I notice a lot of people deflecting blame away from these firms and instead at the homeowner/consumer.

Indeed, that position bothers me quite a bit as well. Santelli rants from time to time, but I would hope he understands the big picture as you've stated (after all, per the previous post, anyone with any sense can realize this...right? :-)). Upon watching the video again, however, I see your point.

Anyone with half a brain knows that economic booms don't last forever. Also, only the fool expects to never be laid off. If you bought a house that costs more then 25% of your monthly income and you DO NOT SAVE then you shouldn't be suprised when you lose it to foreclosure.

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