Santelli Nails it, Panic Optional

[katty]

more: http://www.urbansurvival.com/week.htm
Updated: Friday February 20, 2009 07:55 CDT

(This site is supported by subscription to Peoplenomics. For additional content, please subscribe.)
Santelli Nails it, Panic Optional

Several readers were busy scolding me in the early going on Thursday for my pessimistic outlook on the market. Their emails went to the idea that "Jeez, George, there's no way the market can have a significant decline in the middle of an also-ran options expiration...it's not even a triple witch..." And the market promptly turned lower and while the lunch-hour event I was expecting Thursday didn't come anywhere near closing the markets, it was, nevertheless, a pretty interesting story - and it's bound to grow going forward: USA Today headlines it as "IRS unlocks UBS vault hiding Americans evading taxes." While the Washington Post's take on it is that "UBS Revealed Far Less than U.S. Sought in Tax Case" the mere allegation that there are 52,000 mostly US citizens hiding taxes from Uncle Sam should be enough to have shaken the markets. It wasn't.
But, let's not overlook that Rick Santelli on CNBC Thursday did a major league rant about government subsidizing 'bad behavior' and asking how is it that those of us who have keep up our house payments (90-95%) are going to have to pick up the tab for people who lived beyond their means (5-10%)? 93% of those responding to the CNBC poll when I looked say they would join the Santelli "Chicago Tea Party."

Santelli's idea for a Chicago Tea Party certainly has some merit, especially when you consider how one of his colleagues on CNBC Thursday (Mark Haines) was trying to ask a slippery-wording CONgresswoman in effect "If the taxpayers bail out someone who is upside down in their home, and the home can later be sold for a large profit, is there any way the taxpayers can get their stake back?"

The answer, which the member of CONgress was not able to give is simple: Of course the taxpayer's gonna get screwed. But, she wasn't about to admit that in front of CNBC's audience. But, at least Haines was trying to get someone from CONgress to admit it...five bonus points.

[Hello_Kitty]

1. Santelli accuses ordinary Americans of "living beyond their means"

But doesn't accuse investors who were betting on CDS's leveraged 30 to 1 of the same thing.

Fuck Santelli.

[katty]

2. yep, agree on that--blatant hypocrisy

[Enthusiast]

6. I agree.

Fuck Santelli.

[pollo poco]

10. with a big stick n/t

[ret5hd]

3. Nails what, precisely?

[Donnachaidh]

4. Santanelli is one of the douchebags that helped the collapse along

Fuck him and his teabags. Anyone agreeing with this douchebag needs to take the blinkers off and realize it's YOU he's attacking. He belongs in jail, along with the rest of the crooks and swindlers.

[Andy823]

8. Every last one

Of those who caused the mess we are in should be in jail! From Bush on down to the guys who falsified loan applications in order to get some sucker to buy a house should be put before a judge and tried, and if found guilty should be put in jail! These damn people who are getting people worked up like Snatanelli, are trying to keep the heat off of them, and are nothing more than shills working for the assholes that ran this country into the ground for the last 8 years!

[katty]

9. yes & he was ranting again on today show this a.m.--he is

practically foaming at the mouth, rabidly defending the indefensible, large scale, criminal behavior.

[gaiilonfong]

5. Santelli is a LYING ReTHUGlican crook and jingoist

he and his buddies are basturds...plain and simple.
His rant was disgusting and he is a LOSER

[Stellabella]

7. Santelli is a pig.

And one of the original 'I've got mine so screw you' repuke bastards.