"The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard..."
I think that is a very populist message that will resound with the overwhelming majoriy of Americans.
“Your wrong. The rant wasn’t about Wall Street or the traders or the stock market. The rant was that of an American who pays his mortgage, and the cheers were from Americans who pay their mortgages, and can be summarized as such:
“The government is promoting bad behavior... do we really want to subsidize the losers’ mortgages... This is America! How many of you people want to pay for your neighbor’s mortgage? President Obama are you listening? How about we all stop paying our mortgage! It’s a moral hazard...”
I think that is a very populist message that will resound with the overwhelming majoriy of Americans.”
I have no doubt that under normal circumstances, your assessment would be dead one. If this were say in the 1990s or between 2000 to 2006, your points would probably be dead on.
However, if there was no ground swell after nearly $3 trillion of taxpayer funds were handed over to the very people whose greed (with government cooperation and greed) triggered the current crises, why in the world would you think that $78 billion in housing subsidies would trigger a ground swell?