Watching Rick Santelli's embarrassing diatribe at the expense of the American people made me realize that these Wall Street frat boys still don't get it. America is sick and tired of the riches they have manipulated out of the system and then be lectured by people who make more money than 100 middle class workers put together. The next time I want advice on how to live I'll be sure to ask a man who was deeply involved in "derivatives."
California hates Enron and all the damage it caused us and America, but these are Santelli's peeps. I watch the Saturday FOX Stock shows religiously and he fits right in with Cavuto's crowd. Don't blame the crooked mortgage lenders who were having bidding wars to acquire their next mansion, but blame first time buyers or average Americans, the lifeblood of our society and call them "losers."
Santelli needs to own that he is the loser and if it wasn't for the gasbag insider crowd that gives his words a modicum of respect, crowds would gather outside his home with torches and pitchforks. Jane nails him and his ilk.
Rick Santelli is just the explosive Id of CNBC, saying what everyone else thinks. Somehow it's not the pervasive institutional rot, the criminal malfeasance at the highest levels, or the Chairman of the Federal Reserve telling Americans over and over again that housing prices would never go down.
They have convinced themselves that the real problem is once again people at the absolute bottom of the economic scale. If they'd only used appropriate "judgment" and lived within their means, we'd all be fine.
Chris Matthews labelling Santelli another "Sean Hannity" which is cool by me because he backs up their positions, but that's what most of CNBC and FOX news are all about. On the TODAY show, Santelli went on about how all home owners should get help. That's what, like 100 million homes? Is he asking for another 10 trillion dollars? Part of President Obama's plan is to keep the values of homes as high as possible. By helping out the few, he is actually saving the overall housing market thousands of dollars per home. Do people want to see their houses lose half its value and then get a tax break? I don't think so...
With Chris Matthews, the idiot Bush Depression trader says shame on them for signing something without reading the fine print. I read it and didn't understand it either. That's why I hired a freaking mortgage broker.
Chris got him to admit that he voted for John McCain. What a shock. We were all lied to at almost every level so these slickly dressed charlatans could pillage the country for all it was worth.
And if anyone has bought a house and tried to get a mortgage, they would know that the documentation is gibberish to most of us. We rely on the lenders to accurately navigate the system and not get abused by it. Santelli knows this too. I was lied to when I bought a house many years ago. The escrow agent even manipulated my trust and I watched what happened in California as these greedy money changers almost destroyed the entire economy.
I go to the DMV to get a license and to register my car which makes me go through a series of requirements to meet what's needed in order to acquire them. If the same principle had been applied to the mortgage lenders, then people would not have been qualified to refinance or get into a house they couldn't afford. It's really that simple.
I hope he keeps it up because Americans are in need of help and not lectures from the likes of Rick Santelli. He only helps to expose the disturbed world view shared by the Bush loving-John McCain Wall Streeters.
If Santelli wants to debate me about his positions on any TV network I'll be there. I won't hold my breath.
(John Amato is the founder of CrooksandLiars.com which was voted as a TOP 25 Blog of 2009 by TIME Magazine)