The Purple Center gave currency to Rick Santelli's famous rant against "paying for your neighbor's mortgage" here and here, as well as Jim Cramer's more generalized grumping about President Obama's apparent disinterest in the stock market. So it's only fair to put up Jon Stewart's skewering of Santelli after he and his (and Cramer's) network, CNBC, backed out of a commitment for Santelli to appear on "Comedy Central."
Besides, it's very funny. It also offers a worthwhile reminder of just how thoroughly so many people -- even people paid handsomely to report, probe and analyze business and finance -- bought so totally into the asset-and-credit bubble only months ago.
For the record, I'm still repelled by the idea that I will have to pony up my taxes to bail out some clown who bought a house he couldn't afford with no down payment and an adjustable interest rate. The clown has lost value on an asset and stands to be made whole, while the rest of us have also lost asset values and are on our own. And it's noteworthy that some "homeowners" with mortgages up to nearly $750,000 (!) will be eligible for taxpayer-paid aid.
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Besides, it's very funny. It also offers a worthwhile reminder of just how thoroughly so many people -- even people paid handsomely to report, probe and analyze business and finance -- bought so totally into the asset-and-credit bubble only months ago.
For the record, I'm still repelled by the idea that I will have to pony up my taxes to bail out some clown who bought a house he couldn't afford with no down payment and an adjustable interest rate. The clown has lost value on an asset and stands to be made whole, while the rest of us have also lost asset values and are on our own. And it's noteworthy that some "homeowners" with mortgages up to nearly $750,000 (!) will be eligible for taxpayer-paid aid.
Have an opinion about any of this? Post a comment.
That's a really funny (maybe not) video.
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