“Without apparently reading the plan”
Why read anything? The government does not read their own bailouts.
They ARE promoting something, its called don’t pay your mortgage you are entitled to free housing.
Strip out the negative descriptions of Santelli, and the article is reduced by two thirds.
Surprisingly lightweight for a hit piece. Apparently, the author hasn’t read the thing, either.
The stupid Slate author apparently hasn’t seen Santelli’s response to the Whitehouse spokesgoon. Santelli had printed the plan, and ripped it up on camera!
Video:
http://www.freerepublic.com/focus/f-news/2191386/posts
“clownish”
Coming from people who are the actual source for Beggin’ Strips “I can’t read” dog fame, that’s just rich.
Clown time in DC as publicized by Pravda, complete with face paint to dress it up.
Two words for the Obama hack at Slate:
“Tea Party!”
Viva Santelli
Housing Bubble Prices should NOT be "shored up".
The reason that these people cannot afford monthly mortgage payments is that they foolishly paid $400,000 for a house that's worth $200,000 and a Greater Fool did not show up to buy the house for $500,000 before the gimmick mortgage exploded in their face.
Now, Obama wants to make the U.S. taxpayer the Greater Fool.
How much is a house truly "worth".
As much as the buyer for that house can afford to pay in monthly payments for BOTH principal AND interest from Month One without resorting to artificial gimmicks and without going broke. Anything else is a Bubble Price and maintaining Bubble Prices with Government aid only enables financially irresponsible behavior and prices responsible buyers out of the housing market.
Market forces are based on what "the market can bear" and not what "the market pretends to bear with borrowed money that will never be repaid".
Having the U.S. taxpayer become the ultimate pigeon in this scam is a theft of the taxpayer and a con man's fix of the market.
I wonder when they’re going to start digging into Santelli’s personal life?
Cavuto just pointed out an hour ago that the numbers in the Stimulus bill do not include insurance or tax. PITI — to arrive at monthly payments: price, interest, tax, insurance. So they calculated the numbers are off by about $150 per month for each new payment.
A relatively obscure analyst on CNBC makes a meaningless, if true, statement on TV and the White House and media spends the next week giving him credibility and making him into a minor celebrity by dignifying is outburst. What is a non-issue is on the brink of becoming a major issue.
I LOVE it when Obama makes idiotic blunders. Keep them coming.