CNBC’s Rick Santelli has been roundly thumped from the lefty blogosphere to the White House for suggesting on the air and from the floor of the Chicago Board of Trade that there be a vote on whether taxpayers should help pay for “losers’ mortgages.” In the absence of a vote, Santelli says that perhaps we need a “Boston Tea Party in July.”
On the other hand, Santelli is the citizen with pitchfork du jour for the right from Rush Limbaugh to the misinformed drones (including Republican members of Congress) who dial him in every day.
We know the Right is wrong on how to get this economy going. They’ve had their chance. Trickle down is dead and the once exuberant investment class is shaking in their Bruno Maglis. We’ve found that perhaps banks should be banks and insurance companies should insure and brokerages should buy and sell. Additionally, it might not hurt to for more regulation – human nature being what it is. [Read more...]