Why Iíll Sit Out the Chicago Tea Party
by Dave Gonigam
by Dave Gonigam
is a chump.
It pains me
to say so. I wanted so much to watch his
infamous Rant video on CNBC and say, Hear!
Hear! But I cant bring myself to do it.
that I take issue with his opposition to the Obama housing plan:
Absolutely, responsible homeowners who kicked in a hefty down payment
on a 30-year fixed mortgage should not have to bail out those who
bought more house than they could afford.
But I wont
be taking part in any Chicago Tea Party he might plan
for this summer.
walked straight into a trap, one I daresay Obama aides David Axelrod
and Rahm Emanuel cleverly set.
For all the
popular support The Rant has garnered for Santelli, a backlash has
developed. Watching Rick Santellis embarrassing diatribe
at the expense of the American people made me realize that these
Wall Street frat boys still dont get it, writes
John Amato at the Huffington Post, echoing much of the left
blogosphere. America is sick and tired of the riches they
have manipulated out of the system and then be lectured by people
who make more money than 100 middle class workers put together.
pretty hard to respond to unless you actually opposed the
Wall Street bailouts, thus proving your laissez-faire bona fides.
But as near
as I can tell, Santelli comes up way short on this measure. Where
are the YouTubes of him calling for a taxpayer revolt when the banks
were getting bailed out? Hes a colorful enough speaker, hed
surely have eclipsed the guys we know did criticize the bank bailouts
like Peter Schiff, Jim Rogers, and Marc Faber.
And so, Santelli
finds himself boxed in billions for bankers, but not one
cent for homeowners. Thats an impossible box to get out of.
Then Chris Matthews gets Santelli to fess up he voted for McCain
(who like Obama, voted for TARP I). So The Rant now looks less like
a courageous stand for personal responsibility and more like a petty
partisan thing, red meat for the red states.
exactly how the White House planned it. Obama didnt announce
his housing program until more than a week after Tim Geithner released
the TARP II turkey. The banksters got theirs first. Anyone who then
turned around and opposed help for the little people
without having first opposed help for the big boyz could be portrayed
as cruel and heartless. (Never mind that by cutting monthly payments,
all the housing plan will accomplish is putting homeowners in further
hock to their lenders. So the banksters get theirs on this one too.
They always do.)
Tea Party? Please. Santelli insults the memory of Samuel Adams.
Gonigam [send him mail]
joined Agora Financial in 2007 after a 20-year career as an Emmy
award-winning writer, producer, and manager in local TV newsrooms
© 2009 Daily Reckoning