Thursday, February 19, 2009

CNBC, Santelli Tell Congress: Investigate Financial Swindle!

[Post Summary]

All rivers run into the sea,
Yet the sea is not full;

Ecclesiastes

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Did you see CNBC's Rick Santelli rage against President Obama's mortgage relief plan?





You're a nut if you fall for Santelli's "Tea Party."

First of all, tea is for Brits. Americans drink coffee.

Second, you want change? Get rid of Pelosi. Get rid of Barney Frank. These are the people in Congress who have paved the way for every scheme attempting to save structured finance. That is what President Obama's mortgage relief plan likewise attempts. Now you know.

Look, no matter which way the financial crisis thus far has been addressed there has been an outcry from some corner. Bail out big banks? Outrageous! Bail out trapped homeowners? Preposterous! Does not most everyone agree, then, bankruptcy is the only way left to go? Why, then, does the Democratic Party's leadership in Congress resist this? Whose interests are they serving? See the rage it is generating? Resist this!

Resist rage. Rather, direct your ability to affect change toward just two people: House Speaker Nancy Pelosi and House Financial Services Chairman Barney Frank. Get rid of leaders far too accommodating to those responsible for this mess. The policy perspective these two in particular have toward a financial and economic crisis decades in the making plainly is warped. These two must go. We need new leadership in Congress if a free People is to revive uniquely American principles in a most extraordinary way, as is both our birthright and unique opportunity at this moment of bankruptcy.

Per the gripe of those who side with CNBC's Rick Santelli, it is said a lot of people in truth could not afford the inflated mortgages they, somehow, were able to secure. This only begs the question, though. What came first, the chicken or the egg? Who among the worst credits would have power to borrow were not such opportunity being ceaselessly waved before their eyes, like candy to a babe? We need to investigate.

—Tom Chechatka

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