@pieceofschmidt is totally correct. they got us in this mess in the first place - change behaviors or the situation will repeat!

Way to go Rick!  I sent the video clip to everyone I know.  Hopefully, the revolution will begin with you.  Also, move up the date for the tea party - by July, there will be another stimulus package up for debate!

Rick could not be more right on about this. There is a monetary gain involved here for people who couldn't afford these houses in the first place.

Where is my mortgage bailout for being smart and not getting into this mess?

I also started a Facebook group for those that feel the same way.

http://www.facebook.com/group.php?gid=63519654812

You have to be logged in to get to it.

Since Mr Santelli seems to be so convinced he's 'right-on' about this situtation we're in, why didn't HE run for the presidency and push his agenda?
It's easy to criticize others, isn't it? Rich fat-cat whiner.

Hey Rick tell your thieving gangsters on wall street to return the trillions before you start on main street...

It begins!

I agree with Mr. Santelli.

Obama did run on trillion dollar spending bills

I'm shock NBC hasn't fired Mr. Santelli for forgetting to stick to the Obama talking points!

Rick Santelli: Now one of my new favorite people.

LOL.  Awesome man, right on the nose.

I'm usually pretty cool with most people but I dislike Obama more and more each day.

I did my work at school, got good grades in school, begged my parents to cosign a loan for an associate's degree and show up on time every day for work.  I WORK FOR MY MONEY AND "SUCCESS".  If you want something you have to work for it.  Pick up the help wanted ads. Don't have irresponsible sex when you can't afford kids.  If your boyfriend is unstable and likely to leave then you shouldn't be having sex. Period.  If you can't afford a house don't buy a house.  I can't freaking stand the absolute stupidity and irresponsibility that is encouraged in this country today.

"There are more millionaires per square inch on the trading floor of the Chicago Mercantile Exchange than any other place on earth." That is what the CME members like to brag about. Rick Santelli is an elitist a-hole. The boyz at the Merc have pushed the failed trickle-down economics and ant-regulation philosophy that created the finacial meltdown. Average people all across America are suffering because of the stupid, elitist policies that Santelli embraces. We bailed out Wall Street and they soon forget. Somebody, please fire Rick Santelli. What does he do for our economy and country? He is a true talking fool. Anybody could do his job and do it better.

Rick Santelli certainly has the right to express his opinion about anything, but his screed about troubled mortgage supports was over the top. Indeed it was worthy of Rush Limbaugh. I for one would not be sad to see Mr Santelli disappear from CNBC air. Very likely he could find employment substituting for Mr Limbaugh if the latter needed a replacement (because, for example, of chemical challenges). Of course, if that job is not open, Mr Santelli might face unemployment, be unable to pay his mortgage, and thereby become a "loser". Ah, well. Maybe he would be bailed out.

I could not agree more with Santelli.  Finally, someone who is telling it like it is.  People need to be acountable for their actions and lose the sense of entitlement that they "deserve" everything. People made choices to get into mortgages and now they have to deal with the repercussions of those choices.  Bailing them out only reinforces poor behavior.  We have consumed ourselves to death over the past decade and now we get to live through the "hangover" that goes along w/ that.  Asprin will only mask the problem.

At last the people may have a voice- and it won't be out of Washington D.C.
Rick it takes the people to ban togeather to right the wrongs in this country. A simple solution to reduce intentory and reward those who are ready willing and able to pay for their piece of the American Dream.
Let me add there is a class of people ready willing and able to close on houses in 30 days or less. The Veterans with their benefits and pensions and credit scores are golden for loans, not to mention the 25% guarentee the Government gives the lender. So with a 25% guarentee and a 20% down payment why isn't someone tapping this source to reduce the inventory in the market, and who better than a Vet deserves an opportunity to enjoy the American dream they put their lives on the line for. There are millions of us out their who once again will put it on the line for America---God bless you for your sense and insight

Finally some truth and real straight talk from NBC.  Wow, is NBC finally wising up and working for the people and not Obama.  I doubt it, but what a breath of fresh air, and some hope for the future when hearing some straight-forward talk.  Way to go Santelli - and I agree with Santelli, Benjamin Franklin and Thomas Jefferson are rolling over in their graves!

Rick Santelli insults the victims of the greedy lending practices and lax regulation of the past decade. Where was Santelli when this situation was being created? I'm betting he was cheerleading the "losers" who got us into this mess in the first place.

Santelli demands people be thrown out of their homes. Where is this hypocrite's ire toward the people who lent the money? The people who created this?

Screw Santelli.  

Rick Santelli is absolutely right!  I do not want to pay for water-drinkers' mortgages either!  Count me in on the tea party.

Rick,

Did you ever stop to think, if the Federal Reserve and U.S. Government didn't ride to the rescue of Wall Street and the Financial Industry, CNBC wouldn't be of much use to anyone and you might be unemployed by now.

You freak out like that over buying up mortgages.  Why did you freak out like that when the govnerment bought up losers like banks and brokerage firms?  Where was the freak out over the TARP money?

Oh, wait - that money goes to your industry, and your job, so you can't freak out on that.

Hypocrit.

At last the people may have a voice- and it won't be out of Washington D.C.
Rick it takes the people to ban togeather to right the wrongs in this country. A simple solution to reduce intentory and reward those who are ready willing and able to pay for their piece of the American Dream.
Let me add there is a class of people ready willing and able to close on houses in 30 days or less. The Veterans with their benefits and pensions and credit scores are golden for loans, not to mention the 25% guarentee the Government gives the lender. So with a 25% guarentee and a 20% down payment why isn't someone tapping this source to reduce the inventory in the market, and who better than a Vet deserves an opportunity to enjoy the American dream they put their lives on the line for. There are millions of us out their who once again will put it on the line for America---God bless you for your sense and insight

I think that the American people should be voting on this! Mr Santelli has a fabulous idea! I for one do not want my tax money bailing out those who went and bought a home that they couldn't afford. I would LOVE to own a home where my children have their own bedrooms and it would be heaven to have an extra bathroom, but my husband and I decided to live in the real world and buy a home that we could actually pay for. Irresponsible behavior should not be rewarded! It is not a fair policy for those of us that pay our mortgage, taxes, insurance, etc on time. We do without all the extras that are not necessary to pay our bills in this horrible economy that we did not create but sure as heck will be paying for!

Thanks for the comments. It is interesting to see a Facebook group already started.  

Way to go Rick!
Watch the show "Frontline" that explains how this whole mess started... it is multifaceted and the layers are deep! Let the Revolution BEGIN!!

I will bring my own tea and be happy to join any protest to stop this Government from destroying what is left!!!

Mr. Santelli needs to remember that "We the People" voted for Obama for a reason. In fact, every single person - Republican or otherwise - could stand to remember that. I don't know why it is so easy for them to forget, but hopefully they will catch up soon.

WTG Mr. Rick Santelli!!!! Thank you for speaking on the MAJORITY of Americans! I applaud you!!!!!

5M jobs were lost in the past 6 months.  

The unfortunate thing is that even if 80% of these people who have been layed off are able to become gainfully employed again, their productive capability (income) is probably below where it used to be.  As a result, there is a large possibility that income falls.  

Comments such as Mr. Santelli's do hold some merit, but may result in a backlash of massive chapter 7 bankruptcy filings (which appears to be Mr. Santelli's ideal)

I live in the United States because I like capitalism and I believe in the free market.  If I wanted to live in a socialist state, I would move to one.  Again - way to go Santelli.  

Chicago pork party, I'm there whats the date ? Lets revolt against socialism.

Bullsh*t Mr. Santelli!  I am offended by your comments.  It was not my decision to be laid off.  It was not my choice to have the economy tank.  Do you believe that the only people that get this help are slackers?  I paid my mortgage EVERY month, on time, for 15 years.  I defy you to pay your mortgage on unemployment alone!  Bad form Mr. Santelli...shame on you CNBC!

BRAVO, RICK THANK YOU FOR SPEAKING UP FOR AMERICANS THANKS,CARMEN ERWIN

Responsible Homeowner Revolt
Of
2009
The Tea Party of 2009

Press Release / call to action: Responsible Homeowner Revolt of 2009
Please email to other Responsible Homeowners

Starting on April 1, 2009, in a nationwide protest, millions of Responsible Homeowners (HOME OWNERS THAT ACTUALLY PAY THEIR BILLS AND ARE NOT IN FORECLOSURE) are going to withhold their mortgage payments for the month of April to protest government bailouts of irresponsible homeowners.    

An estimated 93% of the American Homeowners are current with their mortgage payments. The US Government and the home finance titans Fannie Mae and Freddie Mac want these Responsible Homeowners, to pick up the tab for over leveraged, irresponsible homeowners and to pay for the fraud and stupidity of Fannie and Freddie.

Mortgage Companies are expected to receive 10’s of millions of letters like the one below instead of the typical monthly payment.

Dear Mortgage Company:

Instead of receiving my monthly payment you are receiving this letter.  I am current with my mortgage payments and you have greatly profited from my loan.  I am not in a financial position to pay for financial mistakes of others as is being required under the National Bailouts. Therefore, I am withholding my April payment to you to offset a small portion of the Bailout expenses.  I understand that this is not permitted under my loan agreement; however, I never agreed to be forced to bail out your industry.  

Based on your industry’s recent success in securing taxpayer bailouts for Fannie Mae Freddie Mac and the other mortgage companies; I am confident you will figure out how to survive without my April Payment.  

This letter should be one of tens of millions that you will receive in April 2009 from Responsible Homeowners across the nation.  If this nationwide Responsible Homeowner Revolt is successful you should have no problem convincing the Federal Government to cover your losses as it will be virtually impossible for you to survive without the estimated $165 billion in loan payments your industry receives monthly from Responsible Homeowners.

I will resume my normal payments in May. I appreciate your understanding that before I take on a major financial obligation, like bailing out your industry,  I have to save up some money.  

Sincerely,

The Responsible Homeowner Revolt Of 2009 was not started by any political party, committee, 501 c3 or any political action committee.  This is a true grass roots revolt.

At last, someone who can reach a wide audience that speaks the mind of the people. If he has a tea party in Chicago I'll come.

Rick, did you scream when the gov't bailed out the Brokerage Houses or the Banks?

To my new hero: Rick, you expressed perfectly for all Americans that had to work 8-hours a day, go to night school, pay for our education, bills, and mortgages, etc. in a timely fashion in addition to raising our families.  And as first-generation Americans say "God Bless America" every day. Count me in for your Lake Michigan Tea Party!

What he (Andy Olsen) said. Absolutely RIGHT ON!

WAKE UP!!!!!!!!!!!!!!!!!!!!

Rick Santelli is a wall street POS who is responsible for this mess in the first place.  This "populist" is bringing in more then a million a year.

The fact is: EQUITY IN HOMES WAS TRANSFERRED TO WALL STREET IN THE FORM OF BONUSES.  If you've lost value in your home and are unable to refinance it is because people like Rick Santelli took it.  Period.

We need to bring back the guillotine for elitist rich guys like Santelli.

the percentage of people in this country that did the right thing in this mortage crisis and they are the ones this stimulus plan helps , u have no reason to be complaining about your mortgage and your bailout because you can afford to pay your mortgage unlike millions of people, you don't average american on tv whining about the things you are because the average american is too busy trying to figure out where the next meal is coming from....STOP YOUR WHINING.

Shameful.  This is the kind of "me first" attitude on Wall St that got us into this mess.  Getting a bunch of traders on the exchange floor to cheer is no triumph -- just toss in some read meat.  Visit some of the places and people really hard hit by aggressive mortgage selling before popping off.

Rick - Brillant. Maybe you'll inspire others to speak out, you may have stated something today. Please keep me on the list for the Navy Pier Tea Party. I organize a bus myself to attend. Terry Townsend

THANK YOU,LET'S TAKE A VOTE---IS VOTING STILL LEGAL IN THE GOOD OLD U.S.A.?----OR DO  PEOPLE IN SOCIALIST  COUNTRIES GET TO VOTE? LARRY MILTON

Look at the ridiculous amount of airtime this tiny, tiny story has been given across all the news shows on MSNBC.

This looks to me to be a transparent attempt by MSNBC management to contrive its own little "sensation" to give voice to and drum up support for its anti-administration agenda.    

The news trying to make the news rather than report it.

listen up racists, you're talking about a chip of ice off the iceberg when you talk about any of these individuals who were victims of greedy mortgage lenders, and you know it.

This is a very small minded comment about foreclosures.  This implies that everyone in need of help was too stupid to read their mortgage paperwork or too stupid to buy a home that was within their means.  There are always a few people that will take advantage of a situation; but there are plenty of people out there in need of help because they lost their jobs.  The housing industry is directly linked to the jobs market.  Maybe you should ask a Wall St. or bank employee that has been laid off how they feel about things now?  

Bingo... Rick...Thanks for saying it !
Finally someone has the backbone to stand up against this ever left leaning, taxaholic government.
I’ll see you at the party Rick... I have my tea bag and I’m raring to go....

Finally a voice for the normal Americans. Home Foreclosures suck but try to find a real number on owner occupied foreclosures that have gone to deed and it is nearly impossible.  

The "expert source" often sited for foreclosures is Realty Trac which makes their money selling access to their web site that is a list of foreclosed homes, hardly an unbiased source.   there are around 75 Million owner occupied homes in the Country.  3% is 2.25 million homes and Realty Trac claims that their expert source list has between 750,000 and 1.5 M homes (I have not paid to check it out). their own site then would indicate that only 1% to 2% of the national housing inventory is lender owned at any time.  

the doom BS has to stop and saying 40% of homes face foreclosure is just wrong. saying 9 million homes will be saved is wrong.

 

RHR 2009

Hey Rick, how did these folks (you know, the water DRINKERS) get mortgages in the first place?  Hmmm, I think maybe they went to a bank and the BANK determined that they were credit-worthy.  (In other words, the borrowers didn't DEMAND that they be given a mortgage, did they?)

Why haven't you given a similar RANT about the BANKS and WALL STREET, for holding out tin cups that Americans just filled to the brim with taxpayer TARP funds?  It seems to me that it was the BANKS and WALL STREET - you know, greedy guys like YOU - who got us into this mess.  (Who were the water DRINKERS then?)

Ya can't throw a hissy fit about one, without being equally upset about the other.  

As far as VOTING on this, we voted in November.  (I don't recall Dub-Yah asking the American people to VOTE on the Iraq war.)  Get real!

Thank you, thank you!!!  Some very wise comments from Rick Santelli...thank you for speaking the TRUTH!!  I couldn't have said it better myself!  
Count me in as well!

Interesting.  It seems somewhere within Mr. Santelli's comments, it was described the problem is transfer of corporate debt and risk to the public.  Privatized profits, socialized losses as well as risk.

One has to ask if government would be more effective today if it hadn't deregulated the financial system, over-leveraged itself with insurance-backed obligations, and corporate taxes were collected 100% of the time. (Not the 30% as it is today)
http://money.cnn.com/2008/08/12/news/economy/corporate_taxes/

Employment is vitally important, but so is corporate responsibility and corporate citizenship.  The aura of deregulation brought with it diluted responsibility.  You may disagree with this, but when was the last time you saw a Fortune 500 donate consumables to a community affected by layoffs?  Call your local school.  I've learned that mine is actually collecting food for those affected.

The old adage of "What's good for GM is also good for America" seems to have lost it's sparkle.  Perhaps it's time to look at "What's good for National Security is good for America" or "Investments in America is good for America".  But such a radical change includes becoming self-sustainable from every perspective.  

Innovate, as Steve Ballmer suggested two weeks ago:
http://www.alleyinsider.com/2009/2/ballmer-expects-a-fundamental-economic-reset

Perhaps yesterday's announcement of Consulting Firm BearingPoint's insolvency should be a wake up call to the seriousness and necessity of changing course!

I know who Santelli speaks for and it is not
the average citizen. He represents the haves,
not the have nots. He speaks for greed and
has no compassion for the average "Joe".

The whiners here are the people that wasted their money and their time on frivolties and are envious of those that didn't, so they cry like children.

What a hypocrite, I don't remember him advancing the "moral hazard" argument when Citi, B of A and the rest of the banks were getting billions. Spare me the faux populist outrage coming from a member of a notoriously hyper greedy, unethical and morally bankrupt class: the wall street trader. It seems like as a society were comfortable allowing millionaire bankers to abscond with billions in tax money but take great exception and scream "Socialism" whenever it's proposed that we should be helping the average person weather deserving or not.

Al E.

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