I mentioned last week that the Government and Federal Reserve had spent, lent or committed $12.8 trillion, here’s video from stopspendingourfuture.org that helps put that in perspective: In short, we have spent more bailouts than we did on World War 2!
White House Spokesman Robert Gibbs would like us to believe that Rick Santelli is an isolated crank who doesn’t know what he’s talking about… As Joel Stein points out he’s not: A lot of optimistic people bought houses near the historic height of the market, say November 2005, for absurdly high prices, say $1.12 million, […]
CNBC’s Rick Santelli seems to have struck a nerve with his impassioned rant against Pres. Obama’s home mortgage bailout plan. To be honest I’m not at all surprised, there seems to be disconnect between those inside the beltway and those outside. I tend to think most Americans instinctively don’t like the idea of the government […]
Drudge has been hyping this all afternoon… It’s hardly a revolt, but with the Dow industrials closing at a six year low of 7465.95 I think it’s safe to say the markets aren’t crazy about governments economic rescue plans.