Santelli: “Rant of the Year”
By JR Hoeft | Thursday, February 19th, 2009 | PolicyTags:
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JR Hoeft
Conservative to the core; liberal with his opinion! J.R. has been involved in politics for over a decade and has worked on several campaigns in Hampton Roads. He has served on the Executive Committee of the Republican Party of Chesapeake and the Central Committee of the Republican Party of Virginia. He is also the director of “Blogs United” in Virginia. E-mail J.R.. Follow J.R. on Twitter.
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One Response to "Santelli: “Rant of the Year”"
Pretty entertaining – and I’ll confess, I don’t disagree with most of what he had to say.
I understand the economists’ desire to stabilize the housing market – at nearly any cost – but, if lowering the interest rate on a mortgage isn’t going to be enough, then why throw any money at that mortgage? Fact is, the banks who made these bad mortgages, and now own them, need to be the ones responsible – they need to lower the principle balance to what they think they would be able to sell it for in this depressed market, lower the interest rate to a prevailing rate (5% – FIXED) and suck up their losses, they’re going to lose the $$ anyways. If they have to go bankrupt, so be it. I just wish that those responsible would go down with their ships – instead of sitting on an offshore account and living on a beach in the Caymans…
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