Traders Openly Mock Housing Bailout ‘President Obama are You Listening?’; UPDATE: Gibbs Fires Back; ANOTHER UPDATE: Santelli Responds; And Again …

“Better to illuminate than merely to shine, to deliver to others contemplated truths than merely to contemplate.” – St. Thomas Aquinas

Home » Economy/Business, Politics, President Obama, Stimulus, TARP

Traders Openly Mock Housing Bailout ‘President Obama are You Listening?’; UPDATE: Gibbs Fires Back; ANOTHER UPDATE: Santelli Responds; And Again …

20 February 2009 9 Comments

APTOPIX Obama 2008 BY: NCVIKING

Announce $2 trillion TARP program? Stocks plummet. $800 billion Porkulus? Dow drops hundreds of points. Bailout for foreclosures? Traders get livid and a reporter goes on a rant, screaming “President Obama are you listening?” Watch the video below as the CNBC commentator tries desperately to shut up reporter Rick Santelli.

Conservatives have been saying all along that big government spending and bailouts isn’t the answer to stimulus, tax cuts are. Looks like the markets agree. Maybe it’s time to listen.

UPDATE

Robert Gibbs fires back about yesterday’s rant by Rick Santelli on CNBC saying:

“I’m not entirely sure where Mr. Santelli lives or in what house he lives.” Gibbs further told the press that “I also think that it is tremendously important for people who rant on cable television to be responsible and understand what it is they are talking about. I feel assured that Mr. Santelli doesn’t know what he is talking about.”

If I am not mistaken, wasn’t there also a crowd of traders openly (and loudly) agreeing with Santelli? I thought this was more significant than some reporter’s rant and the real story here. I assume Gibbs believes they also do not know what they are talking about.

Foolish ~~man~~ men. You must not question the wisdom of ‘The One’ and his plan.

Link:

ANOTHER UPDATE

It’s not over yet. Rick Santelli answers Gibbs in an interview on Hardball with Chris Mathews.

UPDATE:

CNBC literally ‘Rips’ New York Times for criticizing them about Santelli reporting. “This from a newspaper where the Sunday edition is worth more than a share in the company.”

Last 5 posts by NCViking

Economic Crisis of Confidence - February 8th, 2010
Cato Analysis and Fact Check of SOTU Speech - January 28th, 2010
State of the Union Déjà vu? - January 26th, 2010
Purple Predestination - January 25th, 2010
Prince Composes New Vikings Fight Song (Oh Yes He Did!) - January 22nd, 2010

9 Comments »

Josh Maxwell said:

Would you be interested in exchanging blogrolls links with my site? Please email me if you are interested

# 19 February 2009 at 1:31 pm

Jeff said:

Will the stimulus help the economy? it’s not clear. It sure is going to raise the budget deficit. But that may be worth it. I saw an interesting article on the history of recession on

http://www.recessioninfocenter.com

# 21 February 2009 at 4:47 pm

Greg M said:

As a young man I was taught if I wanted to purchase something I had to earn enough to be able to buy it. As the purchase prices grew as well as my age, it became obvious that I could not always afford something all at once but the initial tenant of being able to afford it even over time with contracted payments still remained the same idea.

It has never occurred to me to outstrip my ability to pay. It has never occurred to me to lie on an application to obtain something I could not afford. I am absolutely in disbelief at people who would even consider this type of transaction in the hopes that they could make a mircale happen at some point down the road. I am incensed at those greedy individuals behind their desks selling these mortgages to those not qualified to sustain them. I am incensed at being asked to offset these over-the-top acts of greed by these individuals on both sides of the transaction. How dare the goverment ask that I take that which I have worked two jobs for and redistribute it to those without conscience or morals when it was not me that made the bad decisions in the first place. The ‘me first’ attitude of uncontrollable greed is not my fault nor should it be my job to make these idiots whole.

# 21 February 2009 at 8:20 pm

NC Viking (author) said:

Amen!

# 22 February 2009 at 6:19 am

Trackbacks

NOW AMERICANS TAXPAYERS HAVE TO PAY ILLEGAL ILLEGALS MORTGAGES FUNNY HOW THEY LEAVE THE REAL REASON WE ARE IN THE DEPRESSION FANNIE FREDDIE BANK OF AMERICA BILL CLINTON DEMOCRATS OBAMA STIMULUS FOR ILLEGAL ILLEGALS NOW AMERICAN TAXPAYERS PAY THERE BILLS F

Bailing Out a Bus Driver with an $800,000 House | The Great Illuminator

Housing Bailout Critic Santelli Says White House Threatened Him | The Great Illuminator