You are correct, j. Santelli has been against ALL the bailouts, and I’ve never seen him advocate giving money to the banks or Wall Street.
The fact that this video is going viral, and that the White House attempted to make Santelli look like an uninformed rube the next day (?) makes me suspicious (there I go with my tin foil hat, again).
Why is nobody correcting the people who are trying to discredit Santelli?
I’ve watched CNBC for years, and Santelli is the ONLY one who has been making sense all along.
He’s right. There is a major minority or minor majority who do NOT want to pay peoples’ mortgages.
I think Santelli is a little more honest than most on CNBC as well. The problem I had with the rant is that it focuses on less 1/100 portion of the bailout funds which is the one that supposedly will help people. For the record we don’t know how much “helping” it will do. Judging from the criteria it won’t modify but a small portion of the proposed amount of loans.
Most have a visions of somebody with 60 inch plasma tvs and a hummer that has a license plate that says “Da Broker” on it. When in reality the majority of the people going into foreclosure today and walking away because they are so far upside down and they rather rent for less or they lost their job because of this mess. Most of the “speculators” have been purged all ready. Not that I think this is a wise allocation of funds, its not, it won’t help a thing. People or economic recovery. It seems gimmicky and only serves as a divisive measure and possibly a way to dump more toxic assets on the public.
Still, the overall mindset of the people championing this rant as something “special” seems to be rooted in a juvenile jealousy of the bad kids that did not finnish their homework getting milk and cookies before bedtime. When in reality mommy and daddy are abusing the whole family.
If the want to “help” people they should give the 75 billion to food pantries around the country but that would not help line bankers pockets.
