Thursday, February 19, 2009

Rick Santelli starts national movement over Obama foreclosure housing plan with heated rant

The person I follow for the best financial advice on CNBC unleashed a passionate rant this morning against the Obama housing plan to prevent foreclosures. And it has elicited a massive "amen" from the viewing public.

I got this remark from a reader:

I just started a Facebook group based on Rick's recent rant about the mortgage problem. I am very adamant about this topic.

You have to be logged in to get to the group:

http://www.facebook.com/group.php?gid=63519654812


This morning, Santelli turned to the traders at the Chicago board and yelled the question if they liked people who weren't paying their mortgages on homes they knew they couldn't afford receiving their tax money -- while they keep paying their home loans on time.

The answer was a resounding "no", and it was captured on television.

Santelli then said: "President Obama, are you listening?!

Then his rant became a movement, even with a button of "Rick Santelli for Senate". NBC News reported tonight that 92 percent of Americans pay their mortgages on time.

What do you think? I don't know if I fully agree with Santelli's rant. But if he finds some problem with the rescue plan and principles behind it of rewarding bad behavior, then something must be wrong.

The guy is that honest.

2 comments:

Anonymous said...

Finally, someone says what the majority of U.S. citizens are thinking and feeling!!!
We need MORE of this from others.
Forget political correctness.
When's the Chicago Tea Party?

debt negotiation said...

Foreclosure is the major cause of our financial crisis. Government should really prioritize this issue.We should really keep ourselves updated.Thanks for sharing your thoughts.Good Day!