Discussion in 'Politics & Religion' started by stock777, Aug 13, 2010.
Santelli is right as usual.
Excellent! The best part starts at 5:30
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Rick Santelli has always been a good resource to the traders' thought processes and that has helped people grasp this thing called trading.
But ever since his "rant heard 'round the world" he has become more of a characture of himself and how he is perceived in his media world. His act is getting a little long in the tooth, imo.
Completly agree. He should stick to his knitting and leave politics alone.
Myself, (this will ruffle some feathers), i say from the beginning of the financial blowup aside from reliquifying the banks with our tax dollars the gov should have made all the underwater homeowners whole be dropping the principle or just giving them the home as a gift from Uncle Sam as a huge step toward getting the deflation of home prices over and making the homeowners whole. Think back to the Savings and Loan blowup, Keating, Mccain, Riegel etc.
There were 747 savings and loans that blew up along with the money of the depositors who had amounts over the FDIC limits. But the kicker is the gov went out and created the RESOLUTION TRUST whatever to bring in all the underwater commercial properties and sold them off as packages to investors. Guess who made out, NOT the taxpayers but the investors.
The ecomomy is NOT going to even get a hint of real recovery until the deflation of homes stops, you can bet the farm on that (opps, farms should not be gambled with). It was really cool before to save the economy by bringing in the underwater commercial sites but today everyone screams "MORAL HAZARD" if we helped a family stay in their home, keep their kids in school, keep up the value of the neighbors, get back into the mainstream, of the economy, get the velocity of money flowing again, etc, etc, etc.
Screw "MORAL HAZARD" look, we are all supposed to pay the bills. There is absolutely nothing wrong with helping a family get back on their feet. Is it only good to help the crooks?
We are all in this together, when everyone is whole we all come out ahead...............is that not why we have bankrupt laws? It is in everyones interest to get all the underwater homes whole again. Deflation in home prices will not stop until we get past this problem. Right now there is ZERO velocity of money in the economy because the bankers are hoarding the tax money we all gave them to help everyone else. The gov has not "YET" came to the conclusion of what you just read to get this economy on better footing.
The real "MORAL HAZARD" for the ones that are not willing to save a few famlies is that this drags on and on and then EVERYONE is slowly dying on the vine because they have a higher standard than helping someone else. Is that a pretty picture?
Since when are people entitled to go through life without pain or problems? Why not restore everyone's 401k too?
Screw everyone who lived beyond their means.
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