FLASHBACK -- Rick Santelli's Famous Anti-Bailout Rant: "President Obama, Are You Listening!" (VIDEO)

Video:  Rick Santelli, Teller of Bailout Truths -- Aired Feb. 9, 2009

Funny how a year changes things.  Santelli was reacting to Obama having just announced a bailout program for homeowners.  This was Obama's 3rd bailout, barely 2 weeks into his term, coming on the heels of the government rescue of GM and Chrysler.  The anger was palpable back then.

Now, barely anyone notices outside of the righteous economic blogoshpere.  Yesterday it was a multi-billion dollar bailout for home-equity debtors.  And yawn. Barely made a ripple in the national news cycle.

Last month a $26 billion state bailout.  Meanwhile Congress is contemplating $165 billion for a union pension bailout.  Double yawn. 

Dancing With the Stars has Bristol Palin this year.  Now, that's big f**king story.  Mary Kate plus 8 and our celebrity-obsessed culture can kiss my ass.

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Transcript:

• My original coverage of the Santelli rant

"Mr. Ross has nailed it. The government is promoting bad behavior. We certainly don’t want to put stimulus pork and give people a whopping $8 or $10 in their check and think that they ought to save it.

And in terms of modifications, I tell you what. I have an idea. The new administration is big on computers and technology. How about this, Mr. President and new administration. Why don’t you put up a website to have people vote on the internet as a referendum to see if we really want to subsidize the losers mortgages? Or would they like to at least buy buy cars, buy a house that is in foreclosure … give it to people who might have a chance to actually prosper down the road and reward people that can carry the water instead of drink the water?

This is America!

How many people want to pay for your neighbor’s mortgages that has an extra bathroom and can’t pay their bills?
    
Raise their hand!

President Obama, are you listening?

You know Cuba used to have mansions and a relatively decent economy. They moved from the individual to the collective. Now they’re driving ‘54 Chevys.

It’s time for another tea party.

What we are doing in this country will make Thomas Jefferson and Benjamin Franklin roll over in their graves."

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Now watch these.  Recent notable outbursts from Mr. Santelli:

• Santelli Rant On Mortgage Bailouts: "Nothing The Government Does Is Efficient"

• 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"

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

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Screenshot

DB rant included.  Click.

Comments

[DailyBail]

The Next Bailout -- $165 Billion For Union Pensions -- Sen. Casey Defends His Proposal (Watch Your Money Disappear)

http://dailybail.com/home/the-next-bailout-165-billion-for-union-pensions-sen-casey-de.html

[DailyBail]

The Next Pension Bailout -- New momentum to dump private union retirement burdens on taxpayers »

http://dailybail.com/home/the-next-pension-bailout-new-momentum-to-dump-private-union.html

[DailyBail]

Global Housing Rebound Loses Momentum, OECD Says: Chart of the Day

http://www.bloomberg.com/news/2010-09-09/global-housing-rebound-loses-momentum-oecd-says-chart-of-the-day.html?source=patrick.net#related_categories_tags_top

[DailyBail]

Greenspan Should Have Seen Housing Crisis, Burry Says

http://www.businessweek.com/news/2010-09-09/greenspan-should-have-seen-housing-crisis-burry-says.html

Some good quotes...

[DailyBail]

Tiger Takes Out a Mortgage for New Mansion

Talk about taking advantage of those low low rates on the 30-year fixed!

I don't have it on my authority, but it is being reported widely and wildly that newly divorced Tiger Woods took out a $54.5 million mortgage on his Jupiter Island, Florida estate where he is currently building a mansion. He reportedly bought the land (three parcels) for around $44 million in cash before all his marital issues.

http://www.cnbc.com/id/38974049

[DailyBail]

Let the principal reduction begin. The new FHA "Short Refi" program, announced earlier this year, went into operation yesterday. It allows borrowers who are current on their mortgages now to refinance into FHA-backed loans, if and only if their lenders agree to write down the principal balance on the loan by at least 10 percent. After the refi, the primary loan must have a loan-to-value ratio of no more than 97.75 percent.

http://www.cnbc.com/id/39059167

[S. Gompers]

"The Next Pension Bailout -- New momentum to dump private union retirement burdens on taxpayers"

This is about asset seizure, not making whole, only the rich are made whole.