I Love Rick Santelli

This entry was posted on Thursday, February 19th, 2009 at 11:43 am and is filed under Democrat, Government Spending, Obama, Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “I Love Rick Santelli”

Taylor Says: February 19th, 2009 at 12:09 pm

We need more of that. Let’s make sure Obama hears it.
Eric Says: February 19th, 2009 at 2:40 pm

Dude, that is awesome! Is Obama listening??
Eric B. Says: February 19th, 2009 at 3:29 pm

I knew I should have written about this instead of Verizon

“The Obama administration’s summary of the plan said the plan could offer a buffer of up to $6,000 against value declines on the average home.” - CNBC I can’t see how this is useful? Raise your hand if you live in Phoenix, Cali, or NV and your home’s value is more underwater than $6,000. I think that’s everyone.

“The money will go to help those who have been responsible in their mortgages but have suffered personal misfortune.” - Obama (CNBC) Don’t get me started on that one!

If you average the $275B against the 9 million homeowners that comes to about $30K a person. Assuming 6.5% interest rate, that would save them about $150 to $180 a month. I don’t think it was $150 that the people going into foreclosure were short. Given that over 40% of those who HAVE had their mortgage renegotiated already have gone back into foreclosure within 6 months, I know we’ll just be dumping more money in.

So not sympathetic.