But it’s a lot more popular to preach that homeowners deserve a bailout. Stewart is funny, but his actual message is nothing more than cheap pandering populism.
Bullshit. He is not even saying homeowners need a bailout. He was pointing out the hypocrisy of somebody that works for the people that demanded the bailout crying about it and then turning around a denigrating the people that fell for the bullshit his owners were selling. CNBC sold the bubble like there was no tomorrow. He may not even have a job if they did not bailout fannie/freddie, citi, the big three, ect… He is very much a part of wall street.
Most speculators have been purged from the market by now and for the most part all that’s left is collateral damage. Job losses and people making financial decisions for their own interest are driving foreclosures today. So for Santelli to make the blanket statement “loser” is cheap populism just like the ill conceived loan modification program. Both cause more damage than good.
The whole economy benefited from the bubble because it masked the fact that we don’t have one. Welcome to a bubble-less world.
