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  • Morning Bell: The Chicago Tea Party

    The nation’s outrage over the never ending Bush-Obama Bailout Parade is heating up fast. This week alone we’ve seen grassroots rallies in Seattle, Denver, Mesa, and Kansas. Then yesterday, CNBC editor Rick Santelli set off a virtual firestorm when his passionate critique of President Barack Obama’s mortgage bailout plan inspired traders on the floor of the Chicago Board Options Exchange to stop their pre-trading preparations to voice their support. The video of Santelli’s call for a “Chicago Tea Party” to protest the government’s constant intervention in the free market has spread like wildfire across all media outlets. What caused Santelli’s outburst? National Review caught up with him:

    NRO: When we posted a link to the video, we were swamped with e-mails in support, including a couple from traders at the Board of Trade in Chicago, who have been saying right on. How have the e-mails that you’ve been getting, how have they been running?

    Santelli: I’ll be honest with you, I think I’ve gotten somewhere between 850-900, and I think I had three that were negative. … The issue is, you can’t pick out 8 or 9 percent and give them things that weaken the 90 or 92 percent who are carrying the water. … They need to quit picking winners and losers, and they have to quit alienating the classes. You have to figure out a way to float all boats, and I think that’s where the administration has gone wrong, and I think that’s the nerve I hit.

    Santelli’s criticism of the mortgage bailout plan is dead on: The plan treats borrowers who sacrificed to pay their mortgages on time the same as those who used their equity for a boat and stopped paying their loans. This moral hazard sends a clear message to our children that they can avoid the consequences of their actions. But this is only one reason the plan is bad policy. Others include:

    The plan’s mortgage cram down provision would only worsen the housing crisis in two ways: First it would increase the risk to lenders and lead to higher interest rates for people trying to buy homes today. Second, the policy would open the door to achieving mortgage reductions for tens of millions of homeowners who can afford their mortgage pay­ments and whose homes are not at risk.

    The plan will fail because too few people will qualify and many of those that do will default anyway. The housing bubble was caused in large part by speculators who bought homes planning to flip them for quick profit and other who out right lied on their loan applications. The mortgage bailout will do nothing to stop these foreclosures. Furthermore, the re-default rates for people that have already participated in mortgage modifications show that as many as 50% of them go on to default again.

    The plan risks another $275 billion in taxpayer funds. The Obama Administration claims their plan will only cost $75 billion, but that is only true if it works out perfectly. If the plan fails to stem the inevitable correction in housing prices taxpayers will lose a full $275 billion.

    Closing his interview with National Review, Santelli also connected the mortgage bailout to the Obama Administration’s stimulus plan:

    At the end of the day, it’s simple. A lot of the president’s advisers are saying that there’s a multiplier effect to the government money, and it’s over one. Now if that’s true, then the government should spend non-stop for the rest of our lives, because we’ll get a positive return. And it makes no sense. … I guess in the end, I believe in the founding fathers, and I believe that in America… the pursuit of happiness and to work hard and keep the fruits of your labor is something I believe in. And I’m not saying we should forget people who need help. But at the end of the day, Americans are strong and they’re charitable. I think what they have a problem with is that it’s force-fed via the government.

    Amen.

    Quick Hits:

    Posted in Economics [slideshow_deploy]

    70 Responses to Morning Bell: The Chicago Tea Party

    1. Ozzy6900, CT says:

      I said it weeks ago, it's like 1775 all over again! Government is growing too big for its britches, the People's Representatives are not representing the wishes of the People and the People are growing rebellious! Now, there is a call for another "Tea Party", this time in Chicago. Will Connecticut still be the holder of the "powder"? If so, I will be happy to defend it!

      Take stock of the muskets for the Revolution is at hand!

    2. Dave in Denver says:

      RICK SANTELLI HAS MY VOTE!!!!!

    3. LVKen7@Gmail.com - says:

      Rush – "It is no accident that the AM band was dying under the so-called Fairness Doctrine, which choked robust debate about important issues because of its onerous attempts at rationing the content of speech."

      *** WRONG!!!!

      That is what the FDoctrine did -

      IT ENSURED THAT

      Important issues were discuss BY BOTH SIIDES.

    4. ROBERT T. DAVIS, AUS says:

      OBAMA HAS TURNED ONLY TO THE GOVERNMENT APPARATUS FOR HELP WHEN IT IS THE FREE ENTERPRISE APPARATUS WHICH PROVIDES 80% OF JOBS IN THE US.

      AS A FORMER HARVARD LAW PROFESSOR HE KNOWS NOTHING ABOUT FREE ENTERPRISE AND IT IS REALLY SHOWING. HE HAS FALLEN ON HIS FACE EARLY IN HIS ADMINISTRATION. WE ARE IN FOR A SAD STATE OF AFFARIS UNTIL HE IS OUT OF OFFICE HOPEFULLY IN 4 YEARS. UNTIL THEN HUNKER DOWN AND JUST WAIT……

    5. Mark Y Durango,Co says:

      Obama's plan is finally getting some national media scrutiny. Perfect. Any person with a usable brain can see this unprecidented amount of decifit spending is rediculous. It will hurt our economy not stimulate it. Yes it rewards bad behavior and irresponsibility instead of hard work and living within your means.Let's see today how the media demonizes MR. Santelli.They will try to silence him and it will probably result in his firing,(they meaning the Obama administration).Just like the so called fainess doctrine,the whole idea is to silence opposition.Sounds like a whole lot of people are starting to get it. Let,s keep it up.I would like to see this Stimulus package pulished so the American people can read it for themselves.We all know the President nor any members of Congress or Senate has Read anything but the page that contains they,re pork project.

    6. Michael - New York N says:

      On November 4, 2008 the DJIA was 9625.28, yesterday it closed at 7,445.95, a drop of nearly 22.3 % since the election. The markets are reading that the Obama administration has moved way too far to the left on economic policy. In addition, Pakistan has made deals with the Taliban; Venezuela has become a true banana dictatorship. Obama MUST stop campaigning, and begin leading with vigor and determination. He is a great campaigner, but a weak leader and knows little about economics fundamentals.

    7. Jon, NJ says:

      Santelli is absolutely, unequivocably CORRECT. Why can't Washington listen? We knew it was going to be bad, but why this bad?

    8. Julie Taylor, Flint says:

      As you well know, our Michigan exonomy is hit hard, and especially, Flint. But in regards to the mortgage, we have had difficulty paying these last 3 months payments. We just finally caught up. We have a beautiful home in a very nice neighborhood, but I feel we could use help also. Like reduce our interest on mortgage, so we can pay better. And what about credit card interest debt. It`s killing us. Blue Cross is paying slow payments to my husband`s business, so it is hard to meet payroll demand for his business. He cannot get any line of credit. So we are stuck.

      Not fair for some to get help, and us, none.

      Julie Taylor

      Flint, MIchigan

    9. Norm from Norman (re says:

      Right on Rick Santelli! Instead of a tea party in Chicago, how about a 10 or 20 million man march on Washington D.C.to show our disagreement with the way the Democrats and Obama are handling things?

      Book your motel reservations early.

    10. A. Medina, Kissimmee says:

      Have you forgotten that these House mortgages were force by the government and ACORN, who thought everyone was entitled to own a home.

      There was a case of an illegal who did not make enough and was given a huge amount to buy a house. It's amazing citizens have to comply with all kind of requirements and the illegal aliens just have to have a "Consular ID" which is enough to opened bank accounts, buy a home, have property exemptions,get all the government freebies, etc. These people can even sue our law abiding citizens if they try to defend themselves from their abusive attitude, ex: rancher that defended his property from being destroyed by the law breakers. Meantime our government "leaders" are pandering to them, forgeting who vote for the seat of power they are occupying. It's outrageous and shameful when we have people who took oath to defend our country and its citizens from the enemies, "so help me GOD" are breaking this promise by not doing the job we are paying them to performed. They are too irresponsible arrogant

      and self-centered, who think are irreplaceable, acting like if they are gods, but their day will come sooner than what they expect. They will be

      like green grass, soon will dry and will be no more. May The Almighty God justice reward them with what they deserve for oppressing and lying to His Children!

    11. Robert Caffrey Leban says:

      We have to have a mass protest of this bill and stop it from happening. We have to use there tactics. They will understand we will not put up with boondoggle spending bill when 5 million people on a Saturday flood the Capital Lawn.

      We want this stopped and we have to show them.

      How can you guys get this organized. I have never been to one of these things in my life but I will go to this one.

      I have alread wrote my democratic senators. They will do nothing.

    12. Sharon Salt Lake Ci says:

      RIGHT ON! I am so glad that people are waking up & standing up for the average person. This bailout mentality is extremely destructive.

    13. J.C. Hughes, Texas says:

      From West Texas, Go Rick Santelli. You're the best!

    14. Sliver, Wisconsin says:

      Mr Santelli is right on and I'm glad too see that it's finally making the air waves. I for one will go to the tea party in Chicago and I believe we desperately need one in Wisconsin. The only thing that will save this country is a revolution because it's got to the point that our voices aren't heard by the Commie government.

    15. Randy, Kansas City says:

      I believe Mr. Santanelli is right on, especially his summary paragraph in the interview. My family & I give sacrificially to help people who can't help themselves. For those who are too lazy or feel entitled to sit around and wait for a handout, I have no patience and no aid I would willingly offer. All those who have abused the system to make a quick buck can & should lose their investment. That was part of the risk they assumed, and now they need to learn from it.

      At the risk of sounding like Joe McCarthy, who wasn't half as extreme as the liberals want to caricature him, let us not forget that Obama sought out and was mentored by communists. At his core, he believes in property rights only for the ruling elite. I don't believe they want to destroy America (though in just one month they're already well on their way). I do believe they want to destroy the American way of life in favor of their own utopian dream of a subjugated populace dependent upon this false messiah and his favored few. There is no other reasonable explanation for the insanity currently flowing from Washington.

    16. Steve Lawhead, Maryl says:

      Mr. santelli is dead on with his comments. All these bailouts just reinforce the idea that there are no consequenses for bad decisions and do not fix the real problem, too much government involevment. Lets organize a tea party in Baltimore or DC. I will be there!

    17. Richard Cancemi,Arli says:

      Obama and his Ilk in the "Democratic" Party are killing this Country! They have launched their "America-cide" with relentless attacks on personal freedoms, inserting socialist programs and doing everything they can to replace The Constitution with their ideas of what constitutes "A Brave New World".

      While real patriots talk about and lament the abuses going on, the Liberal socialists go about dismantling our Country.

      It is sad to witness our country being "murdered!

      Richard Cancemi

      Arlington, Tx.

    18. Ken, Santa Barbara says:

      Fact:

      Rasmussen does not say "only 38% of Americans support the Obama Administration mortgage bailout plan."

      Thirty-eight percent (38%) think government subsidies are a good idea, and 18% are not sure which course is best to follow.

      Rasmussen does say Forty-five percent (45%) of Americans oppose the federal government subsidizing mortgage payments for financially troubled homeowners.

      HF You are effective at what you do.It isn't meant to inform us but to mislead, misquote, push figures and divide Americans.

      This is a very miserable and whiny collective appearing to be bent on denying the reality of our present condition while looking to point a convenient finger. This appears to be aggressive mistaking itself for assertion. You/we are all Americans and the sooner you pick yourselves up by the bootstraps and join together with the rest of us/the others we shall never find peace.

    19. Rita Morrisville, NC says:

      I have never been in a march for anything, but I will be heading in any direction that you want to start this. We are in trouble as our President says……….he is the trouble we are in. It would be nice if everyone could have a home, car, etc., but wake up………the world is not fair. The world will never be fair. I would love a Jag to ride around in. I can not afford it. I hate that life is not fair, but to bad for me.

    20. Mike in Ohio says:

      I will be watching for the organization of this Tea Party or any kind of Million Man Marh on Washington. I will be there! This has gone too far and this is just the beginning of it. By time this is over we will be a socialist going on communist country or we will stand up and have a good old revolution. I am a proud American, so bring on the Revolution!!! Live Free or Die trying! Prepare yourself, the War is coming!

    21. Jake Domnick Peoria, says:

      Rick Santelli is spot on! Thanks Rick for being the voice for those of us who do not overspend and work hard everyday. Give'em hell my friend!

    22. Daniel Miller, Daphn says:

      Santelli's right! It's time we get government out of our business. They caused this mess by strong-arming banks and lenders into making bad loans to people who should've been renting. Of course banks would then spread that risk out over the world in the form of mortgage backed securities, and now it's coming back to haunt us. We need a complete overhaul of government. Vote out all the deadbeats in Congress and start anew! This isn't the 60's anymore!

    23. kent, Virginia says:

      I'm fed up. Americans MUST insist on term limits for all elected public servant and rid ourselves of this elite RULING CLASS of career politicians in DC! Kick them out in 2010 should be the battlecry. They have just pushed us into the pit of near bankrupt nations–like Great Britain– without any permanent tax cuts and without fixing entitlement spending! Throwing more and more money at our problems with no real measures for long term benefits will plunge us deeper into recession.

      Einstein was right. Insanity is "doing the same thing over and over and expecting different results."

    24. michael hutchings says:

      LOCATION; THE SHIP OF STATE IN THE WATERS OFF THE WILD COAST OF CHICAGO;

      CAPTAIN OBAMA;LETS LAND AND UNLOAD THIS CASH;

      AXELROD; IT LOOKS LIKE A MOB ON THE DOCK;

      CAPTAIN OBAMA;GOOD THE MOB IN CHICAGO LOVES ME;

      AXELROD;IT DOESNT LOOK LIKE THE MOB WE DEAL WITH;

      CAPTAIN OBAMA;A MOB IS A MOB THROW CASH AT THEM;

      AXELROD;WE MUST ACT QUICKLY THIS CASH IS LOSING VALUE FAST;

      CAPTAIN OBAMA;PRINT MORE TO MAKE UP FOR THE LOSS AND TIE HOOKS TO THE STRINGS AND TROLL THE WATERS THIS WHOLE LAKE IS FULL OF SUCKERS THAT WILL BITE OR GET SNARED;

      AXELROD;GOOD IDEA BUT IT WILL BE INFLATED AND TOO BULKY TO CARRY AROUND;

      CAPTAIN OBAMA;DONT WORRY I KNOW A GUY ON THE SOUTHSIDE THAT CAN I CAN STIMULATE INTO SUPPLYING WHEEL BARROWS;

      AXELROD;CAPTAIN OBAMA, I WAS ASKED BY SOME OF THE CABINET THAT YOU NOT REFER TO THEM AS THE OUTFIT;

      CAPTAIN OBAMA;I GET THEM MIXED UP,ITS HARD TO TELL ONE MOB FROM ANOTHER AFTER THE CONFORMATION HEARINGS;

    25. Rick Scott, Detroit, says:

      Umm…"AS A FORMER HARVARD LAW PROFESSOR HE KNOWS…" ??

      IIRC, wasn't he just a Harvard student ?

      *did* 'lecture' at Chicago, but has never been a professor ??

    26. Boyce Robbins Easley says:

      Sooner or later, the books balance. If you borrow money, it will be repaid by someone in some form. Either you will personally pay it back or those who DO pay their debts will pay more in higher interest rates, more fees, lower debt to income ratios, higher down payments, etc. Or, more likely, the entire economy pays with less (or no or negative) growth. The only way the government can pay off these astronomical debts is to print more and more money resulting in higher and higher inflation. The folly of shielding the American people from the true costs of your programs was attempted by Lyndon Johnson who opted to spend on both "guns and butter" and laid the foundation for the stagflation of the 1970's. And his misdeeds pale in comparison with Obama's.

    27. d. clay, san diego, says:

      Time to remind the government that it is "of the people, by the people, and for the people." Every revolution starts with one person.

    28. Mary Venice, Flori says:

      Santelli is right on! Good for him and I do hope it starts some common sense in our country and government.

    29. tc, South Carolina says:

      Mr Obama, how do you like your "Change" now? Your favorable polls are declining, support for your raid on the producers of America is waining and your cabinet and advisors are clueless. Are you man enough to make real change and do the things that have to be done to put this economy back on track or will you bury your head in the sand and wait until you, your cabinet, Pelosi and Reid, and every hard working American are pulled into that bottomless and hopeless pit of socialism?

      Lets see just how smart you really are.

    30. Celebrim says:

      So when's the date?

    31. Bob Scherer says:

      Santelli spoke for the majority. He struck a nerve. Obama cares more about homeowners in foreclosure (due to their choices) than millions of mortgage-paying homeowners who lose thousands in the stock market every time he speaks. What Hope? Obama trashes the economy every day…he is about Despair. We need more Santelli, less Obama.

    32. ella quinn kinsto says:

      I am ready to march also. Someone lead the way.Enough is enough.

    33. Pingback: The Enlightened Redneck » Join The ‘Chicago Tea Party’

    34. Robert san antonio says:

      Is any of this getting in the news papers ? my San Antonio Express News for example, this paper is about to shrink to

      nothing. In my opinion the 4th estate has sold out. I talk to them and they just make excuses. I am aware of their struggle to stay in business, and they seem afraid of alienating anyone in power or being negative about what is happening.Is the next step to give federal $$ to news papers ? Then crush the internet and talk radio. I'm really old. but I'm ready to rebel if necessary to defend our hard won liberties. Unite Patriots ! Follow the DON'T TREAD ON ME FLAG ! Fear us you pusil politicians !

    35. Margaret, Florida says:

      Protesting and loudly voicing opinion will do nothing to change the wave of what's going on in Washington. Does anyone think that the political gangsters in DC would really care if protestors marched on Washington? We need to come up with a better alternative. We are being forced into submission.

    36. Susan Johnson says:

      As conservative Americans, we have to do what the liberals refuse to do and that is take responsibility for ourselves, and future generations of Americans. We allowed this on November 4th. It has taken this to wake us up and cause us to realize that it is time to make our voices heard while we still can. How long are we going to pay for houses that people knew they could not afford? There is something called renting. Young couples have been doing it for years and somehow they all lived to tell about it. When (for those of us who even bother to) we vote, how many names on the ballot do we not even recognize because we haven't studied and truly prepared for the priviledge of excersizing that great responsility. Laziness and greed will be the death of this democracy in the end.

    37. Pingback: Morning Bell: The Chicago Tea Party » The Foundry « Snow Report Blog

    38. william, Illinois says:

      Rick Santelli, Right on!

    39. Spiritof76, New Hamp says:

      Thank God, Rick Santelli spoke up the truth. Please decide the date for the massive demonstration against the socialism and Obama administration's hatred of hard working and self reliant people in this country.

      Also, we all need to watch out how the government tries to harm Santelli and his personal life. Obama crowd did it to Joe the plumber. We all need to stand together ready to support Santelli against the government snooping.

    40. Pingback: Liberally Conservative » Blog Archive » Chicago Tea Party Proposed for July - Let the Revolution Begin!

    41. p thomas says:

      The idea of a city wide tea party is a formidable undertaking. I'd like to suggest that everyone mail teabags instead. Mail them to your Senators and Representatives. They might even know what you mean by it.

    42. John Nobles Jackso says:

      My wife and I live in a house that is a lot less than what we could "qualify" for. We are buying a house that we can afford even in the tough times.For years we have paid extra on our mortgage ..paying down the principle at an accelerated rate..What is our reward for this behavior??? Well for one …we get told from Mr. Obama that we now will have to do our part to help pay for the houses for the irresponsible people who took too much risk..or even lied..Thanks a lot Mr. Obama and the entire bunch in Washington…

    43. Pingback: Chicago Tea Party | The Krug Report

    44. Bruce Donnelly, Chic says:

      OK, it was a clever rant and hit a nerve. The question is what we are going to do about it as we go forward. How do conservatives get the word out about the good things which they are doing to achieve economic progress in the states and local communities where they actually have leadership roles and influence, unlike Washington DC? There is a model other than the liberal community activist / organizer who lobbies government for more money for a particular group. Let's start getting the word out now – not wait for 2010.

    45. Bruce Donnelly, Chic says:

      Further thoughts are shared at SurgeUSA.org
      http://www.surgeusa.org/actions/tea_party.htm

    46. Bruce Donnelly, Chic says:

      Further thoughts are shared at SurgeUSA.org

    47. MIKE , KAZOO MICH. says:

      GOD BLESS AMERICA AND RICK SANTELLI. It's about time we've heard this on a bigger stage I'm right beside you rick. I'ts time to feed the tree of liberty.

    48. H L PUCKETT AV, says:

      I THINK EVERYONE IS PRETTY WELL FED UP WITH THE OBAMA ADMINISTRATIONS BUNGLING OF THE NATIONS ECONOMY. THEY ARE LIKE A BUNCH OD CHILDREN IN A CANDY FACTORY TRYING EVERYTHING TO SEE WHAT THEY LIKE BEST, WHETHER IT IS GOOD FOR THEM OR NOT.WELL THIS NATION IS NOT A CANDY FACTORY, AND THEY ARE NOT CHILDREN.

    49. anne, michigan says:

      I ask you people to go to think about this. Sophistocated bankers conned unsophisticated borrowers to take on mortgages they couldn't afford so that the banks could sell the paper as bundles rated AAA to other unsophisticated buyers. Who should pay here? The prey of these predatory lenders? I think not. Let the banks pay.

    50. robert, california says:

      I guess there is a site which is starting to organize this event!

      http://www.reteaparty.com

    51. Jon says:

      Thank you Mr. Santelli. It would be an honor to attend your tea party. Please set a date, time, and place. I would recommend getting a private piece of land, perhaps one of the $400,000.00 homes being bailed out.

      This country is broke and in debt. Continuing to raise our credit limit will not make us more prosperous. Creating jobs via the stimulus plan will not provide a foundation for long term economic growth. A job is not the same as a career. There are still "jobs" in the Sunday paper. What good is a $10.00/hr. job when I was furloughed from a $50.00/hr. career. I did not file for unemployent for 2 reasons. First, I did not want to further burden my children with debt they did not create. Second, because I was already working 2 jobs to pay my bills I did not qualify.

    52. Linda Lou in New Mex says:

      Rick Santelli Rocks!!! I love his passion and he stated what so many are thinking and talking about to their friends and family. You can feel the frustration and anger rising. I'm with Ozzy6900, CT. I am ready for the tea party.

    53. Chris Tennessee says:

      Seriously, is anyone going to organize a tea party in Chicago? I'm in. All these years of watching protests for such ridiculous things, how about a protest of the "silent producers" to protest something serious — our freedom, the loss of capitalism, the creep of government. Let's do it! And when some elderly liberal lady approaches us, we will engage her in dialog and say "ma'am", not like the gays that stomped that ladies cross in California.

    54. DAVID HUGHES says:

      The people of this country need to stand up, KICK ASS AND TAKE NAMES.

      To all Milatary personel and Veterans.

      We said we would defend this country aganist all enemy's foreign and domestic.

      Now is the time to DEFEND OUR COUNRTY brothers and sisters.

      If not we shame our founding fathers.

    55. Allen, South Carolin says:

      I suggest that all people who disagree with the bailout package, form a march on their own Capitals and demand that the state DOES NOT take any of the bailout money, regardless of the conquenence. Everyone… tomorrow morning, start their own Tea Party by flooding the phone lines and emails to their govenor and elected officals. We Can and We Will make it through this bailout. Let's start now. Of the people, for the people, and by the people. Make your voice heard as loud and as clear as you possibly can. Get all of your family and your neighbors together, pick a date, and go to your Capital.

    56. ra,ohio says:

      WAY TO GO RICK !!!!!!

      Obummer has only been in office for 1 month, and you see the response from the people ??

      GOD BLESS AMERICA !!!!!!!!!

    57. Brian, Alabama says:

      Sign. Me. Up. Santelli 2012! Rick Santelli just became the face of the Revolution For Common Sense…

    58. Dorothy Morgan, Okla says:

      Stop, think, remember. Where were you the last 18 months? We've been in an official recession since fall of 2007. Remember the big bailout of Wall Street that didn't admittedly work? Have you seen the financial crooks on your TV? Have you read what the SEC didn't do to prevent this expensive fiasco? Did you not see President Bush explain how bad this thing was and how much money it would take to save us?

      Don't let a Class War take us down…devisiveness can do just that. We are one country, not two or three. God Bless America!

    59. GVnana, Northern Cal says:

      "the FDoctrine…ENSURED THAT

      Important issues were discuss BY BOTH SIIDES."

      Uh no. The Fairness Doctrine gave us Top 40 pop music radio. I know. I was there.

    60. Bruce , Magnolia,DE says:

      I thing Mr.Santelli hit the nail on the head… but let's take it a step further… If you look at the history of the government,any government, you will find that the greater the government involvement in any given program, the greater the waste,fraud,corruption,theft,inefficiency;[you fill in the blank], The adage "he who governs least governs best" is more true today the any other time in history. For the first time in my life I really feel that if the American people do not unite together and let the government know that we at sick and tired of this and put a stop to the governments take over of our lives and out property we WILL go the way of other nations before us. No other country will destroy us and our way of life…we will do it from within.

    61. Melanie, Tennessee says:

      Anne, Michigan. Predatory Lenders? You ARE kidding right? These people went in and knew that they could not afford the homes they bought. Interest ONLY Anyone? Now, if you are too stupid to understand that you are only paying the interest on a loan and that amount could change you have NO business signing on the dotted line.

      I bought my house at 27. I can assure you I had to PROVE my income. I also had to pay off a couple of little things to lower my debt-ratio. At 27, I knew what I needed to do. Some people lied about their income!!! Predatory Lending? Didn't Barney Frank and Acorn strong arm these lenders back in the 90"s to loan the money in the first place?

      Fairness Doctrine? Why do we need that? Doesn't NPR have stations in every corner of the globe? Plus, we have CBS,NBC, ABC and CNN. Those stations have to get licenses too don't they? Obama is scared that all his nonsense is coming out. The MORE people find out what is actually IN this Porkulus Bill are hitting the roof!!! No Pork?Money to print Playboy in braile? Water Park in Arkansas? Are you serious? Who in the heck has money to go there? Is the Big O gonna give us a grant to take our kiddies???? You know he might since he's gonna pay everyone's rent, utilities and deposits.

      It took Obama 30 days to destroy the foundation of this country. His voters got change. The middle class he told he would be bring jobs back to are really going to be shocked to find out the only people benefiting from this NONSENSE is the Welfare Class. (Overstating the Obvious)

      If people are in over their head in credit card debt, it's YOUR own fault. There are some of us that have never started that and never will. Some of us live within our means, which today is UNHEARD of and a FOREIGN concept.

      SUCK IT UP AND STOP CRYING FOR YOUR OWN BAD HABITS!!!! YOU MADE YOUR BED!!! lAY IN IT!!! GET AN ADDITIONAL JOB (Mc Donald's is hiring everyday) PAY OFF YOUR DEBT AND SHUT UP!!!

    62. Jeanne, Montgomery I says:

      Government fiscal irresponsibility — I was so glad to see Mr. Santelli's comments on television. He is spot on! I am all for fiscal responsibility, and it begins at home. People should live within their means, and if they do not, well too bad. Let the chips fall where they may. They took that gamble. You know, don't spend it if you ain't got it — and if you do, well don't expect the taxpayers to bail you out. And because some people are not fiscally responsible, Mr. Obama do not reward bad behavior. Where is the incentive for taxpayers that play by the rules, work hard, pay their bills and taxes on time, when we have to see our hard work benefiting those who are lax in their financial responsibilities.

      Moreover, how do you think we taxpayers feel about the IRS when Timothy Geithner, Secretary of the Treasury, was found to be a tax cheat. How is that OK? President Obama, we the people are watching with disbelief.

    63. ella quinn kinsto says:

      I am ready for a tea party in N.C. anytime.

    64. April McNamara, Colo says:

      Melanie from Tennessee. I think that you've been getting your information from Foxx News again. Try expanding your news sources so that you can see the whole picture. Fueling up on Rush Limbaugh, Sean Hannity and Bill O'Reilly is not a balanced diet. They like to stir up the pot to increase ratings and sell their books. You have to listen and read the information with a discerning mind. What's the slant? And trust me, all of them have a slant. That's why I love to watch CSPAN and then watch how the news media spins the events.

    65. Bill Stephenson says:

      So are we going to have a Chicago Tea Party? I suggest a march on Washington. Not a million man march,but a 10 million American march. We are being assaulted on our values, foundations of our country. i doubt obama has read the constitution or it has no meaning to him. I believe we as free thinking Americans are more then getting fed up with this wild spending spree, an total mismanagement of our money, our childrens money , an there childrens. All we ask is responsible governing an the constution followed an respected.

    66. Bill Stephenson Nor says:

      i submitted a coment an forgot to put i am in north carolina usa

    67. Jacques' Ri&#03 says:

      Headin Out for the Montana Tea Party…leaving the musket at home, for NOW. Someone needs to start a Rick Santelli for President grass-roots campaign! I'll gladly join and campaign for him. Remember '75 (1775) jacques'

    68. Marie,Idaho says:

      All of you that are against paying taxes should think of other places than parks to have these rallies since they are built with tax money,don't take streets or sidewalks to get there,they are built with tax money,don't call the police for help,they are paid with tax money,take your children out of school are tax money pays for that too. And if you are against socialism, rip up your medicare cards,and say no to social security,you do realize this is a type of "SOCIALISM". But it was okay for BUSH to start a war we never should have gone into,then spend "BILLIONS" of are tax money to rebuild Iraq, I considered that socialism,but you no what's sad is was spent in another country helping the unfortunate people that was caught in a war that SHOULD HAVE NEVER HAPPENED, when it could of been used for the less fortunate people of "AMERICA".Please people just set back for a minute take a deep breath and think of all the things you use and couldn't get by without in your lives that has been paid by with are taxes.And let the President get back to work to get the economy out of the gutter that BUSH pushed us into.My husband and I are middleclass and we seen more on are 1st check of the month of April. And remember alot of the bail money that has gone out since Obama became President was already passed through when BUSH was still President.Where were you guys then? And he didn't even put any regulations on the money and that is why those CEO's got the big bonuses they have gotten.I think this probably has more to do with the philosophy of the "RUSH LIMP_BAUGH hoping that the President fails than anything else.And it shouldn't matter what color the President is or how REPUBLICAN you are,but under the circumstances of the economy we should hope he succeeds for all "AMERICANS." That is what a TRUE AMERICAN WOULD HOPE FOR!

    69. Pingback: RESP Canada

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