We've all heard about how many American's opposed the massive Stimulus bill signed earlier this week; not much yet on the $75 billion housing bailout, except on CNBC today.
If you don't watch CNBC, and sometimes it can be like watching paint dry, but market guru, Rick Santelli who covers the Chicago Mercantile gave President Obama an ear full.
Santelli became overly fired-up on the floor of the Mercantile. Questioning why most people should continue to make their mortgage payments now that Uncle Sam could bail them out. Traders began to chirp in and wow...what a show. Santelli seemed to be venting what most of us feel and that is for the federal government to stay the hell out of the way and let the markets work things out.
At one point in the exchange, Santelli invited viewers to attend the next Tea Party in Chicago as they throw into Lake Michigan bad investment instruments. Then he closed out by drawing a comparison to Obama's plan in the US by saying that Havana used to have some beautiful mansions, but once Cuba abandoned individualism, everyone now drives 52 Chevy's.
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