Rick Santelli Speaks for Me

Last week’s rant by CNBC’s Rick Santelli on the floor of the Chicago Board of Trade gave me a sense of relief that I was not alone in my “why should I pay for someone else’s screw-up” mentality.  I know that there are many people out there that have this same line of thinking.  You know, the people who work two jobs and follow a budget to make ends meet for their family.  The people who go in to buy a home with a specific price set on what they want to spend so that the bank cannot talk them in to spending more.  Those couples who have a double income but don’t blow it all because they realize that at any moment one of them could lose their job.  I know that if I just described your way of thinking or your way of life, you will enjoy this video as much as I did. 

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1 comment so far

  1. archna on

    I totally agree with Rick santelli. According to me, it involves 2 parties here. Banks gave bad loans but people also took bad loans. If banks are bailed then it is logical for people who took out bad loans to be bailed out too.

    But banks have to pay the taxpayers back. Also they have exec compensations limits and many more restrictions. What about the homeowner who is getting bailed out. They get a better rate, may be principal writedown. Where are the restrictions. They are unable to make payements (if that is the argument) then they should have restrictions in taking vacations or share some of the profits after selling the home to the taxpayer who bailed them out.

    I think in life we do not get do overs, once time is passes it never comes back so, we can learn from our mistakes not erase them as if life where a blackboard. So, let the banks and the people who made wrong decisions both fail.


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