[Rick162]

Tea Party Rant

This Tea Party is Official !!!

Look the guy is our quarterback now.....and although I don't like some of the plays he is calling..... I am on the team.... and I don't want to tackle my own quarterback.... but... that being said ....I having real Heartburn with the thinking of the new administration and our Fed Chair.

Rick Santelli of CNBC says it right "We are rewarding bad behavior" By not let individuals and institutions fail we are circumventing capitalism. Robbing opportunities for competing company's and speculative investors.

These institutions have/had shareholders who placed their bets in the market....who trusted their management teams to succeed...and they lost...in a big way. We should let those shareholders experience the full magnitude of their risk/reward.

These Banks and insurance company's took huge leveraged risks...to get huge leveraged gains.....let them realize their losses...When they start calling all the notes they have...(if they can find em) the other institutions will be there to profit in the re-writing of the debt.

Ben Bernanke Fed chair says:

"You live in a wooden house real close to your neighbors and your neighbor is smoking in bed , we could punish him and not call the fire department but risk our house burning down too"

Well Ben, my neighbor built two spec houses" To Make Money" and smokes in bed doused in gasoline and he walked away from those "investments". and you know what he probably isn't going to make his credit card payments either or pay his property taxes, or parking tickets either. I guess I'll pay for that too through higher taxes.

I did not hear one word on personal responsibility of the American people to suck it up pay the debts they signed up for! Liquidate and get out of debt?

What the Hell happen to debtors Prison?

These financial institutions need to be broken up...That's what the feds should do. Let the free and invisible hand of capitalism sort out the strong from the weak, why must every franchise bank survive?

Friedman said " In the record of history there is no alternative so far discovered of improving ordinary peoples lives that can hold a candle to the productive activity of a free enterprise system"" Under no other system in history have the masses been able to escape grinding poverty without capitalism and free trade.

President Obama

Should every American be entited to a home? No way!!!! there are a lot of people in the USA who are not responsible enough or have prepared themselves by... OMG "Saving" their money to own a home.

Home ownership shouldn't be a gov't sponsored right!!!The fulfillment of the dream of home ownership comes with sacrifice, not government assistance!!!

Greed is Good !!!! Just don't ask me to pay for my neighbors greed and recklessness!!!