Awesome Santelli Rant: "The Government Can't Fix The Housing Problem! No More FED Money!" (VIDEO)

CNBC Video:  Rick Santelli attacks Steve Ricchiuto -- Aug. 13, 2010

Check the expression on Santelli's face in the screenshot. 

Extend and pretend ponzi pie.  Shut up and eat it.

Rick has zero tolerance for Fed-supported housing apologists.  Remove government mortgage assisstance and let prices fall to levels more historically in line with incomes.  It's a simple wish, that no one at the Fed seems willing to consider.

The entire discussion is worthwhile, but the wrestling match begins at 5:40:

• "Banks won’t do it because the government has subsidized lending to a level no rational person — you wouldn’t, with your money, sir, let somebody buy a house with nothing down and basically a free ride to risk on an unsecured loan."

• "Then the housing market’s no good, and we should let it seek its bottom. The government can’t fix it.  No more FED money.  That's the point!"

Recently from Santelli:

Santelli Rant On Mortgage Bailouts: "Nothing The Government Does Is Efficient" (New Video)

Rick Santelli Slams Former Fed Gov. Laurence Meyer: "The FED Is A Lot Like Your Appendix, It's In There But You Don't Really Need It"

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Comments

[DailyBail]

Why Santelli is right, and wrong, about housing

http://blogs.reuters.com/felix-salmon/2010/08/13/why-santelli-is-right-and-wrong-about-housing/

Felix is an apologist as well...useless..

[DailyBail]

Third World America: 'Fast-Tracking to Anarchy'

http://www.huffingtonpost.com/janet-tavakoli/third-world-america-fastt_b_694903.html

New op-ed from Janet Tavakoli....on Chicago crime and corruption...

[DailyBail]

WASHINGTON — On a Saturday in August when most of the political class has escaped this city’s swelter, 50 Tea Party leaders have flown in from across the country to jam into a conference room in an office building on Pennsylvania Avenue, apparently unconcerned that the fancy address does not guarantee air-conditioning on weekends. They have come to learn how to take over the country, voter by voter.

http://www.nytimes.com/2010/08/26/us/politics/26freedom.html?_r=1

Will be interesting in dc this weekend...

[DailyBail]

Despite Reform, Banks Have Room for Risky Deals

http://www.nytimes.com/2010/08/26/business/economy/26trade.html

Janet sent this article to us by email...she is quoted within...interesting piece...

[DailyBail]

Update on the Irish bailout situation...

http://www.independent.ie/business/irish/nama-to-recover-just-euro16bn-out-of-euro40bn-spend-on-loans-2312019.html

[DailyBail]

It's Not A Question Of IF Sovereign Nations Will Default, But HOW

http://www.businessinsider.com/prepare-for-the-age-of-financial-oppression-2010-82#ixzz0xjNdHPXN