CNBC's Rick Santelli's Chicago Tea Party

RIck Santelli discussing Obama's Mortgage Plan

Category:

News & Politics

Tags:

• rick santelli
• cnbc
• heritage foundation
• chicago tea party

[HipHopLived]

Obamacare was originally proposed by republicans in the 90's, and the democratic party hasn't been fiscally left leaning since BiIl Clinton was president.

[bhec7715]

This is an important piece of American history. Our myopic fellow citizens forget that it wasn't just Obamacare that created the revolt that became the tea party.

[pagalbhakal]

Sitting on a trading floor, a year after taking govt. bailout, days after pocketing annual bonus ... it sure feels great!!

Bailout for homeowners? Now, that adds to spending. Thus was born tea party, illegitimate daughter of Wall Street crooks.

[Hagalazii]

@philligatortears and then you come to think about wich person had to check, whether the people who cant pay back their mortgage, were solvent enough to be granted the credit in first place.

Then u finance these credits with MBS and CMOs and suddenly you dont get ur money back because previously you did such a good job on checking. Its their own bloody problem that they basicly gave mortgage to everybody who asked for it and then didnt hedge it . Good job on that.....

[Hagalazii]

Right because it wasnt the banks who used up a bigger part of the subsidies after 2000 for giving out tons of cheap-interest credits for people to buy houses. Giving them to people who where not solvent and shouldnt get them, just because you where drooling for the interest-paying redemption, didnt you dear bankers. What about Mortage Backed Securities?

And im just curious how many people in that room where former employees at Lehmann....

[jbourget32]

That's America? What about the small towns and local communities Tea Party politicians love to pander to? Future traders are the most productive members of our society? Please, all they do is move money around.

[Yankees27u]

Sorry, I meant October 2008. Bush passed the first stimulas in October 2008.

[Yankees27u]

Isnt his profession all about buying your way into prosperity? You do good or bad based on what you but. That is how the market works. For someone who is a trader to say that buying or selling inst your way to be happy let us take away his million dollar a year plus salary. The silent majorty, who make millions of dollars a year. Where were the "one perecent of those people" and Rick Santelli when George W. Bush passe the first stimulas in October 2009. This is not about principal but ideology.

[Yankees27u]

Rick Santelli having influence over the U.S. stock market and the U.S. economy is also a moral hazard!

[DJSedSo]

I have this to say about the origins of the modern Tea Party movement (in the 21st Century):

THE ANSWER TO FEBRUARY 19, 2009 IS DECEMBER 16, 2007!

[TheRiceowlex]

@philligatortears Why not just reclaim the credit used to buy the home in the first place ?

[Turtleproof]

@dacmiller Because what you describe does not exist; Obama's policy is in line with Bush and the GOP. Why assassinate an associate?