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  • A Revoltin' Development

    http://chronicle.augusta.com/stories...i_512293.shtml

    A revoltin' development
    Augusta Chronicle Editorial Staff
    Monday, February 23, 2009

    President Obama's intentions may be good, and he may have zeroed in on the problem.

    But his proposed housing crisis solution is only raising questions -- and hackles, too, almost to the point of a citizen revolt.

    People who have played by the rules, made good choices and sacrificed to pay their mortgages on time are growing furious as they see the government preparing to use their tax money to bail out irresponsible and reckless homebuyers who gambled that rising equities would cover their inability to afford their houses.

    Cable network CNBC editor Rick Santelli's increasingly famous rant on the floor of the Chicago Board of Trade this past week has struck a chord with those Americans livid about bailout after bailout from Washington.

    "The government is promoting bad behavior!" an angry Santelli intoned, as traders nearby cheered him and jeered the government. "This is America!" Turning to the traders, he asked, "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!"

    Instead, the traders loudly booed the idea, as Santelli only got angrier. He suggested a "Chicago Tea Party" -- and in a later CNBC poll, 93 percent said they'd join in.

    "President Obama's massive mortgage-bailout plan," writes finance guru and CNBC commentator Larry Kudlow, "is nothing more than a thinly disguised entitlement program that redistributes income from the responsible 92 percent of home-owning mortgage holders who pay their bills on time to the irresponsible defaulters who bought more than they could ever afford. This is Obama's spread-the-wealth program in action.

    "Team Obama is rewarding bad behavior."

    Indeed, taking the tax money of homeowners who acted responsibly and prudently and using it to bail out those who did not is making the responsible ones the suckers.

    On the other side are those such as the American Bankers Association, which calls Obama's plan "a constructive, flexible and multifaceted initiative likely to have a positive effect."

    Maybe. But we've got some questions:

    - How will the government fulfill Obama's pledge not to reward irresponsible or unscrupulous borrowers? It's a nice thought, but how do you do it?

    - How in the world can a government that couldn't track the billions in the bank bailouts be able to watchdog the $75 billion to $275 billion in the mortgage bailout?

    - Where in the Constitution does it authorize the federal government to take money from one citizen and use it to lower another citizen's mortgage payments?

    The Heritage Foundation reports that grassroots anger at the "Bush-Obama Bailout Parade" has already erupted in rallies in Seattle, Denver, Mesa and Kansas.

    "Santelli's criticism of the mortgage bailout plan is dead on," Heritage says. "The plan treats borrowers who sacrificed to pay their mortgages on time the same as those who used their equity for a boat and stopped paying their loans."

    Actually, Heritage has it wrong. The bailout plan treats responsible borrowers worse than the irresponsible ones.

    You have to wonder whether Americans will stand for that.


    From the Monday, February 23, 2009 edition of the Augusta Chronicle

  • #2
    Agree with the sentiments, but I'm afraid that even if you could channel the widespread outrage into action, the result would be too little, and too late by say, a generation. Collectively, there's nothing left to fight back with as it has all been sold out beneath us through promises of a perpetual gravy train of gubmint entitlements.

    Wake me up when people are clamoring to stop receiving thier social security or medicare. This ain't your Grandfather's country anymore.

    Comment


    • #3
      Originally posted by FWM View Post
      Agree with the sentiments, but I'm afraid that even if you could channel the widespread outrage into action, the result would be too little, and too late by say, a generation. Collectively, there's nothing left to fight back with as it has all been sold out beneath us through promises of a perpetual gravy train of gubmint entitlements.

      Wake me up when people are clamoring to stop receiving thier social security or medicare. This ain't your Grandfather's country anymore.
      I, sadly, agree with you. :( I don't believe the mass majority KNOW what to do other than accept it and move on. We have been indoctrinated to not question authority and anyone who opposes the actions of our government is considered an extremist and let's face it, won't be around very long. *sigh*

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      • #4
        Originally posted by Lostinoz View Post
        We have been indoctrinated...
        That is the heart of the problem right there. All levels of the education system has been taken over by liberals. Almost all levels of mass media have promoted the liberal indoctrination. Almost all of the churches have promoted the liberal indoctrination.

        Kool-aid anyone?
        If it looks ignernt, but it works, then it ain't ignernt.

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        • #5
          Originally posted by FWM View Post
          Agree with the sentiments, but I'm afraid that even if you could channel the widespread outrage into action, the result would be too little, and too late by say, a generation. Collectively, there's nothing left to fight back with as it has all been sold out beneath us through promises of a perpetual gravy train of gubmint entitlements.

          Wake me up when people are clamoring to stop receiving thier social security or medicare. This ain't your Grandfather's country anymore.


          So what happened to 'one voice can make a difference'? I guess if ten million homeowners said, 'my one vote wont matter', then you have a self-fullfilling prophecy. Congratulations.
          Classic Southern defense: "But your Honor, he just NEEDED killin!

          Comment


          • #6
            Originally posted by Vicious Ignernt View Post
            That is the heart of the problem right there. All levels of the education system has been taken over by liberals. Almost all levels of mass media have promoted the liberal indoctrination. Almost all of the churches have promoted the liberal indoctrination.

            Kool-aid anyone?
            Yep, I have seen this very indoctrination, too. My youngest son is getting ready to leave for college this Fall. I have had the same talk with him as I did his older brother of how to avoid being contaminated by the liberal professors who encourage socialism and for him to always question everything, question their agenda, etc.

            Freedom wasn't free and many have forgotten that fact or else they just don't care. :(

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            • #7
              Socialism hard at work.... Go Team Osama!
              Wolverines!!!:D

              Comment


              • #8
                Well history shows that until there is a martyr, most will not take up the cause.
                It takes someone with a strong enough belief in what he is doing to die for his cause to spur others on, and it seperates those not willing to die for it to.

                Or in the case of our president, a really good speaker to rally the un-thinkers (sheep of the mass pasture).

                It is better to stand for something than to fall for everything.

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                • #9
                  Originally posted by Lostinoz View Post
                  Yep, I have seen this very indoctrination, too. My youngest son is getting ready to leave for college this Fall. I have had the same talk with him as I did his older brother of how to avoid being contaminated by the liberal professors who encourage socialism and for him to always question everything, question their agenda, etc.

                  Freedom wasn't free and many have forgotten that fact or else they just don't care. :(
                  i think they dont care they have been fed a line of crap so long they just dont care!who could the trust?:eek::eek:

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                  • #10
                    When the gas tax (1.40 a gallon, I've heard) and cigarette taxes (1.60 a pack starting 1 April) kick in, people will notice.

                    When he passes cap and trade, we will have true shortages and people will be cold in the winter and hot in the summer.

                    The food rules will cause shortages too.

                    So the population will be cold and hungry. If he hasn't grabbed all the weapons by then, there WILL be an uprising.

                    Am watching to see which state will practice "civil disobedience" and not enforce some of the crappy rules he's passing. If there are any balls in any state capitals left, that should be soon. States may start to cecede then.

                    This is the logical progression, but can't find any logic since November, so take with a grain of salt.
                    "If Howdy Doody runs against him, I'm voting for the puppet." - SkyOwl's Wife, 2012

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                    • #11
                      The masses won't like a sin tax on fast food or sweets.

                      Comment


                      • #12
                        Today my supervisor received an E-mail regarding March 17th to be on the lookout for people at the banks. Not protestors, but the term that was used eludes me at the moment.
                        Since I work for an armored car company, and something were to come down, I was instructed that I am able to carry my firearm, even though I haven't been issued my armed certification yet.

                        In one way, I'm kinda looking forward to see if there are any people to look out for at the banks, but in another, it's a little spooky.
                        "Reject the basic assumptions of civilization, especially the importance of material possessions." "The things you own end up owning you"-Tyler Durden

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                        • #13
                          Yea I cannot abide with anyone getting out of their mortgage simply because they tried to get too much house for what they could afford, or got a loan from a bank because the government told the banks to make ssurfe that 50% of your ortgages were to people of low income.

                          While I myself do not have a mortgage since I paid cash for my house in 2001 I still don't want to pay for someone elses mistake.

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