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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