Feb

24

Will Rick Santelli rant about this?

You’ve probably heard about CNBC’s Rick Santelli ranting about mortgage aid to American homeowners:

I’m certain that Santelli will give a similarly impassioned screed about this:

The government faced mounting pressure on Monday to put billions more in some of the nation’s biggest banks, two of the biggest automakers and the biggest insurance company, despite the billions it has already committed to rescuing them.

And I’m sure the market traders who were cheering Santelli on would be more than happy to see the banks, carmakers and insurance company hit the skids — and perhaps deal a deathblow to the economy — in the name of preserving “moral hazard.”

Joel Mathis | 10:30 AM | 3 Comments

Uncategorized, economy, moral hazard, rick santelli, stimulus

Jim Lakely Says: Feb 24 11:50 AM

It’s impossible to know, but I’m guessing Santelli would rant about that. Maybe he already has.

His point is that capitalism doesn’t work when those who take risks and make tough choices figure out how to tread water while the “losers” get bailed out by the feds. The government has no business picking winners and losers in the market.
Ben Boychuk Says: Feb 24 1:59 PM

Didn’t hear the rant, didn’t watch the video. But I did Google “Santelli” and “TARP.” Seems he isn’t a fan of bailing out banks, either.
Joel Says: Feb 24 4:11 PM

Ah. Maybe I need to be a lil’ more nuanced then. Maybe my question isn’t: “Will Santelli rant about this?” but “Will the conservative movement lionize Santelli for mildly objecting to this?”

Never mind.