Rick Santelli blasts the Obama plan, then gets attacked, what do you think
By mscott
@mscott (1923)
United States
February 20, 2009 7:30pm CST
So a financial reporter came out and criticized the bail out plan for people who couldn't pay their mortgages. His point was the rest of us shouldn't foot the bill for those who got themselves into bad deals. He got a lot of public support for it. However, the whitehouse spokesman came out and attacked him and criticized him. Wow, and it was pretty personal. Usually the government doesn't go after reporters for using a little thing called freedom of speech. Usually people react in such a angry way when they have something to hide or know they are wrong. It isn't for me to judge because I don't fully understand the plan but what scares me is that if the media actually does its job and questions or criticizes is this what the new administration is going to do to them? It kind of resembles the good old strong arming that the mofia was known for. What are your thoughts?
2 people like this
4 responses
@spalladino (17891)
• United States
21 Feb 09
I say, "Let's rock". The thing about reporters is that they're tough and if pushed, they'll push right back. Just because a White House spokesperson talked tough doesn't mean he can defend what's being objected to and, the more things are brought before the people, the more the people are aware of. I'm sure Santelli cut his baby teeth on worse.
@thegreatdebater (7316)
• United States
21 Feb 09
I personally like Rick Santelli, he is a pretty honest guy, and he doesn't mind upsetting people, or speaking his mind. The problem with Rick is that he lives in the finacial dream world where the only thing that matters is money. I listen to CNBC everyday (when I have my Sirius in my truck, it is in the shop, and I am going throug withdrawl right now), and the problem with the finacial world is they accept NO blame for this mess they made, and are mostly free market right wing republicans. There is only one decenting voice on CNBC, and he is doesn't stand a chance with everyone else being a republican. Rick is a smart guy, and is very interesting to listen to (it is funny to hear him when he is in the studio, and NOT yelling, but it is loud on the floor of CBE), but like many smart people, sometimes you get something wrong, and this is one of those instances. These houses are a cancer on the housing industry, housing prices can't go up if you have more and more forclosures. It also isn't helping the stability our economy, we need to have a stable economy so that people will feel confident in spending money, which will help us get out of this. The longer this recession goes on the worse it will get for the entire world, and in ways that no one wants to see it.
@mscott (1923)
• United States
21 Feb 09
Well spoken argument. I understand your thinking but I disagree as well. If we have to bail out 10% or less of the home owners for making bad purchases or purchases they should have never been allowed to make in the first place then this undermines consumers trust in the system. We continue to see people bailed out for making mistakes and this is teaching people the wrong thing. Obviously with all the bail outs the markets and consumers aren't reacting positively, instead quite the opposite. People continue to lose faith in all the financial institutions which is contradictory to what you are saying. If they really want to be fair and regain trust then they should allow say a 4% refinancing option for everyone, this would not only be fair but add money to the economy as many people who did the right think would have extra to spend. Instead of bailing out the crooks why not help the consumers who in turn will spend and get the markets going again.
1 person likes this
@thegreatdebater (7316)
• United States
22 Feb 09
MScott, I have heard the 4% idea before, and I think that would be a great idea, but they getting the banking lobby to agree to that. I remember a time during the presidential campaign when a McCain spokesman couldn't understand how the amount of defaulted mortgages was so high. When you look at the amount of money there is in the mortgage industry, you realize why it is so hard to do anything to them. I agree that we shouldn't bail out the crooks, but the problem is most involved are crooks. The people that wrote the mortgage, the people applied for the mortgage, the people that sold the mortgage, and the people that bought the mortgage are all to blame for this. So who do you bail out?
@stacyv81 (5903)
• United States
21 Feb 09
Well, maybe the government has been hearing America....I know when the bailout for those big business came out, everyone was like hey what about us, Some people owed money to those places, and they came out on top, yet they still had to pay them what they owed... So, maybe the govt decided to help them out, and the govt feels like everything they do to try to fix things gets criticized, and that particular person had had enough. Reporters have freedom of speech, you are right, but so does the politician...and although I didnt hear what the reporter said, or the politician, (so I have no idea what was said, so I dont know who is right or wrong), We never know what kind of day someone has had, or what has happened to them that day, he might be under intense stress,..who knows. I am not saying that either are right or wrong, I just think we should look at it from all angles, ya know? Hope that made sense =)
@mscott (1923)
• United States
21 Feb 09
I don't think the Whitehouse Press Secretary comes out and just makes things up in front of reporters. This was a pre planned attack on that reporter and he even held up some documents telling the reporter he needed to go and read them before he started spouting off. However, the reporter had read them and even had them in hand when he responded. He pointed at specific examples in the document as well. From everything I have seen those in favor of this bail out the few bad home buyers is greatly outweighed by those opposed to it, and that is what the reporter was pointing out.
@stacyv81 (5903)
• United States
21 Feb 09
lol...you are right, like I said I didnt know the facts...but Its kind of like what I posted on here before about mylotters, when you are in a debate, and someone steers off the subject and attacks you, it is basically saying you won the argument, they have no other way to feel superior than to throw insults and try to intimidate, so that is probably what he was doing!
@CRIVAS (1815)
• Canada
21 Feb 09
Wow, that is surprising. You would think that the whitehouse spokesman would use a little more couth when dealing with the public. I agree with you, their reaction leads me to believe that they know that the plan isn't going to work and it makes me question if Obama has done the research he should have before proposing this idea. I hope that all works out because even though I live in Canada, the state of affairs in the US affects us all. I wish you happy mylotting.
