Posted in: Odd News

Rick Santelli flips out over foreclosure relief (video)


CNBC’s Rick Santelli isn’t a happy man.

In a cross to the trading floor of the Chicago Mercantile Exchange, Santelli, backed by a cheersquad of traders rallied against President Obama’s plan to not immediately foreclose on homeowners behind on their mortgages because it rewards bad behavior.

“You know,” Santelli said “Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they’re driving ’54 Chevys.”

Strangely I don’t disagree with a thing he said, but only on the grounds that the banks shouldn’t have been rewarded for behavior far worse than any average homeowner to begin with. If the money is going to be spent, it’s only fair that it gets shared around.

Here’s Rick Santelli flipping out on CNBC:

Articles And Offers From The Web


16 Responses to “Rick Santelli flips out over foreclosure relief (video)”

  1. mickrussom

    барак обама – Да мы можем!

    “We cannot expect the Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans small doses of socialism until they suddenly awake to find they have Communism.”— Soviet Leader Nikita Khrushchev, 1965

  2. william

    I am glad Santelli spoke out. Most common men who pay taxes, abide by the law, and work hard, have no audience or gallery or bully pulpit. Mr Santelli did a wonderful thing and gave us hope. I hope his comments make National News. I hope this nation can turn around. Every step taken by the Fed and politicians since mid '08 have served to hurt human beings and prolong their suffering all over this planet.

  3. smoth

    I do not normally comment on sites like this but reading the news is something I do every day. Good for him, it is about time someone said something!

  4. Mike

    Rick Santelli can't be qualified to become an economist but has a chance to become a show man.

  5. Chuckweirdstone

    In Nov. of 06 it was apparent that the country`s economy was in big trouble. I moved our 401k out of the market. This situation isn`t that complicated. Republicans just see it as a way to help the average person and they would prefer to ride on the backs of the middle class and the poor until their heads are under water as well. Some think its all the fault of the people who excepted loans they couldn`t afford put they couldn`t of gotten those loans without banks who were encouraging those loans. The same man that`s having a fit on the flour of the stock exchange was more than happy to profit from those loans. There is one rule in reporting. Don`t become the story. Rick your 15 min. is up. Kicking the economy in the balls when its down just to make a name for yourself is unjustifiable. You need to leave the reporting to reporters and go stand in a corner.

  6. Danny Freeman

    Santelli has tapped into the frustration of millions of americans.
    Liberals who discount their opinion do so at there own peril.
    We live in interesting and in my opinion dangerous times.
    Most people theoretically agree with the government bailouts but when it starts to touch their finances with higher taxes they will rebel at the ballot box. Take a look at California a few years ago. If this spending means higher taxes it won't last past 2010. If we want these reforms to stand we should pay as we go.

  7. dennis

    No matter what bail out does the same thing we have just been helping the haves vs havenots counting on trickledown economics

  8. Hilary Smith

    If your neighbor's house gets foreclosed on it will drive your property value down especially if there are several foreclosures in your neighborhood and especially if the houses sit vacant for any period of time. By pitching in to help your irresponsible neighbor, you're actually helping yourself. Maybe we were all a little irresponsible when we decided to drink the tax-cut/deregulation koolaid. With adequate funding our watchdog agencies could have been properly staffed and could have sounded alarm bells when they noticed that banks had drastically lowered their lending standards. Santelli's just trying to divide the working-class because he's scared we'll rise up and knock him and his ruling-class ilk off of their privileged pedestals. The fact that our corporate media has lavished such attention on Santelli and his dangerous campaign of misinformation should prove once and for all that they are in the business of defending Right-wing interests at the expense of the People.

  9. Danny Freeman

    I agree with your points about helping our neighbor helps us all in the long term but most people are looking short term at the bottom line of there own finances. Give the working class the chance and they will become the ruling class. It is why true socialism will never work. We are social to a point and then self preservation and self interest kicks in. We may be able to incentivize good behavior but we will never be able to legislate against bad behavior. We always find a way to misbehave. Its the human condition I'm afraid.

  10. scot

    I'm going to quit my job, stop paying my mortgage, and wait for my bail out. Someone talked about class struggle here and well lets dust off the guillotine and start chopping off the heads of the bourgeoisie. Hell didn't Hugo Chavez nationalized his economy. Ops, I guess American history isn't all that important. Were does the breadline start.

  11. Danny Freeman

    Being on the dole isn't all it is cracked up to be. Limited income, bad housing, inadequate health care, lousy transportation. If you think the government can really take care of you think again. Just take a look at the families of the military. It's why socialism never works. Only a few elite always get the best while the rest get the most minimal of services. It looks like the powers that be in Washington will be the new elite.

  12. stephen Fruth

    Well Rick because a lot of those people keep your lights on your computers working the water and heat working.

Around The Web