[VIDEO] Rick Santelli on victims of foreclosure: ‘Losers’ who engaged in ‘bad behavior’

Channing Kennedy

[VIDEO] Rick Santelli on victims of foreclosure: ‘Losers’ who engaged in ‘bad behavior’

In case your brain has been working too well lately, here’s CNBC’s Rick Santelli, laying it down on Obama’s proposed foreclosure rescue plan.

To wit:

“The government is promoting bad behavior … How about this, president and new administration? Why don’t you put up a website and have people vote on the internet, as a referendum, to see if we really want to subsidize the losers’ mortgages, or would we at least like to buy cars and buy houses in foreclosure, and give them to people who might actually have a chance to prosper down the road, and reward people who could carry the water instead of drink the water.”

The politics at play -- the idea of an Other whose suffering is the will of the Universe -- are disturbingly familiar, but now Santelli is now getting spun into something of a "people's champion" as this clip loops on CNBC and MSNBC. Apparently the kids really dig his rap on how a majority of America (i.e. the ten percent of people who hold all the wealth) would rather put eight dollars in a savings account (what?) than see bad behavior rewarded (the rewarding of bad behavior does not include any of the trillion-dollar banking bailouts from the last few months).

CNBC is capitalizing on the burst of traffic, and while the commentariat is on board for the "Chicago Tea Party," most bloggers are getting tripped up on why Santelli is talking about what cars they drive in Cuba.

Posted at 2:38 PM, Feb 19, 2009 in Video & Multimedia | Permalink | View Comments

Comments

Am I really reading this?

If someone bought a house that they cannot afford, and cannot make the mortgage payments, and can't refinance because that person bought at the peak of the bubble, and paid far more than the house is worth; why should people who did not make that series of obviously stupid and irresponsible mistakes have to pay off his mortgage for him?

I am just stunned and amazed that there are people who are so mindbogglingly stupid that they can be brainwashed to bleat like a mindless sheep that somehow when someone borrows money, and fails to pay it back, that it is the deadbeat that is somehow the "victim".

"the idea of an Other whose suffering is the will of the Universe" Yeah, yeah... fire up that denial projector and suggest that others are mimicking the left wings habitual use of tawdry Orwellian style propaganda. It's not the "will of the universe", but the five percent who are experiencing the logical result of irresponsible decisions and simple arithmetic.

Please explain to me why I should have to labor all my life, and my children to labor all of their lives, to pay for others to buy houses that they cannot afford? How am I supposed to buy and pay for my own house? Do I have to buy a smaller house now so that I can pay the taxes to buy someone a bigger house than they can afford? Are YOU planning to subsidize MY housing costs?

Oh, and by the way, this country was created by a revolution started over excessive taxes that were far lower than what we are paying to the government today. Perhaps the country could use a little tea...

I've read many blogs about Rick Santelli's rant this morning and all have more positive comments then negative about his rant.
I happend to be watching CNBC when Mr. Santelli snapped about Obamas mortgage bail out plain, I was saying "AMEN!" You say in your blog "The politics at play -- the idea of an Other whose suffering is the will of the Universe -- are disturbingly familiar"
I don't think peoples suffering is the will of the universe people our loosing their homes because they have failed to pay their mortgage! This is their fault not mine not the governments and not the banks! I am lower middle class and instead of spending my money on new t.v's and new stuff I make sure I pay my bills on time. Those who decided that putting in a swimming pool was a better choice then paying their bills or those who bought a home they could not afford at a teaser rate don't deserve to be bailed out by hard working middle class Americans. Too many people these days feel they should be given instead of earned its not easy to earn a home but its worth it noone is entitled to own a home they are however, entitled to earn it! The will of people to put effort into earning something or not is the real question not the universes will that people suffer.

Why, if it isn't the party of Jesus wanting people to lose their homes.

Real family values there.

Rick should be upset with himself and the rest of the gentleman in their market. Makes me want to pull every dime I have out until people like them do not have jobs. As for the mortgage brokers that promised the people they would be able to refinance, they are now the same people denying modifications. Come and get the keys is what I am hearing. I don't here anyone asking for a bailout to save their homes. All I hear are bankers and people like Rick asking for more money as they still need their $10000 hookers and cocaine they have been a custom to. Hey Rick, this loser would love to meet you. Maybe you would like to meet my loser children and my loser wife. We make good money and will continue to do so. Thanks for the boost in confidence.

Nuff said...