This is just amazing! Rick Santelli of CNBC on the floor of the Chicago Board of Trade this morning absolutely calls out President Barack Obama on his plan to essentially make taxpayers pay for people who took out bad mortgages. Santelli says:
'The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard.'He even suggests what we may need is another "Boston Tea Party!"