More Mortgage Bailout CNBC Video: Things Get Very Heated Between Santelli and Liesman. Santelli Launches ChicagoTeaParty.com

This is more video of Rick Santelli and Steve Liesman from yesterday.  Things get heated and Liesman tells Santelli to shut up as they shout over each other.  The question is simple: bailout your asshat neighbor or not?

How accidents can chage the course of history.  I'm sure we will hear the details in the fullness of time, but $20 bucks says Rick Santelli had no intention whatsoever of disclosing his private idea for a Chicago Tea Party on the air yesterday.  I've watched the video several times and it is certain that his emotion got the better of him and he let forth his siren call in frustration.  It's very unlikely that Rick or anyone else can yet grasp the magnitude what has now been unleashed.  Sadly for him, I believe his life has been forever altered.  If this unfolds as I suspect it will, a taxpayer revolution was born yesterday and he is the self-appointed leader.

Once his guard was lowered and his heart was in control, he shared an idea so fundamental and so in-tune with America's thinking that within 12 hours an official website had been launched at chicagoteaparty.com and a revolution born.  On CNBC's website this morning, there is a very popular poll.  The question is straightforward: would you join Rick Santelli's Chicago Tea Party?

A mind-blowing 200,000 of you have already responded to the poll.  Let that sink in. CNBC polls normally tally 15,000 respondents according to their site.  Currently 95% of voters have said 'yes'.  This is pure supposition, but I suspect that if it were held on a Saturday and somehow all 310 million of us lived within 100 miles of Chicago, that 200 million Americans would attempt to attend such a tax revolt.  Let's not kid ourselves, we have all wanted to do something symbolically defiant to our government at some point in the last few months, and a modern day Chicago Tea Party is pretty much the coolest idea we've ever heard.

Santelli gave birth to the most beautiful accident in the history of our republic.  Finally, someone with a pulpit has taken their moral responsibility seriously and done something.

Santelli Videos   Part 1       Santelli's Rant that Started a Revolution: Chicago Tea Party is Born

Santelli Videos   Part 2       Argument with Liesman Gets Heated:  Thursday CNBC

Santelli Videos   Part 3       Hardball with Chris Matthews:  Friday Night  MSNBC

Santelli Videos   Part 4       Today Show with Brian Williams and Liesman:  Friday Morning NBC

Santelli Videos   Part 5       Two Videos: White House Press Secretary Attacks and Santelli Responds

New Ron Paul Video            Must See.  Brand New Interview with Bill Maher:  Friday Night HBO

Getithner and Paulson: Monkey See Monkey Do        Must See Doctored Photo

The United States of Insolvency                                       $20 Trillion Federal Debt by 2012

Bailout Your Asshat Neighbor                                           The Newest Plan from Team Obama

Comments

[Weapons of Mass Toxic Assets]

I'm the first one there. Counting till till July! See you all there!!

[Joshep Khan]

Rick is the smartest guy on Wall Street and I wish he was working for the government. How come you can't have smart people like Rick Santelli work for us. Why do they put him for only 5 minutes on CNBC when he is the most valuable person?? He should replace Jim Cramer and have his own show if not work for the government. Go Rick!

[James]

Rght on!

Let' s do this s%#@!!!!!!!!!!!!!!

[Ain't Bullshittin']

Have cajones....will travel!

[Brasco]

Count me in too. Chi town here we come!

[Sons of Liberty]

Objectivists Unite! As Hobb's has written "Life is nasty, brutish and short." Some day a real rain will come and wash all the scum off the sidewalk. Ask youself whether the dream of heaven and greatness should be waiting for us in our graves--or whether it should be ours here and now and on this earth. This god, this one word: I.

[Punish the Losers]

Viva the revolution. Santelli is our Man! At the 2009 Tea Party the responsible 200mn should face off against the pot smoking, deadbeat losers that lied to get mortgages that they could never afford. My guess is that they'll never put down the marihuana joint long enough to fight. Drug test all of them and put them behind bars where they belong. I agree with Sons of Liberty, the scum should be washed off the sidewalk.

[War of Northern Aggression]

As long as we gonna clean house let's also get rid of the welfare moms and all the jerks on unemploymenht. All the guys standing next to Home Depot better realize there next.

[Acai Berry]

What a gross misrepresentaion of the problems. Rick Santelli and Larry Kudlow argue against bailing out homeowners to the tune of $75 Billion but the real problem is the CDS derivatives overhanging the market, which they don't even acknowledge in their dumbed-down argument. This is a multi-Trillion dollar problem. And $75 Billion is pocket change compared to the real issue. These right wingers don't seem to be bothered by the Trillions that will be spent bailing out their buddies on Wall Street. A pathetic, misleading argument by people who are too ignorant to see their cherished Ayn Randian lassez faire economics is what caused the problem. They are intellectually bankrupt!

[Frank]

Santelli is right, and he says that the CDS's have been a problem for over a decade, he says it towards the end of the segment, everyone was making so much off of them. They were left unregulated by Clinton's administration, cant recall the act off the top of my head.

[Graphite]

WTF does "intellectually bankrupt" even mean? It has become a completely hollowed-out buzzword ....

Santelli says the Tea Party will dump toxic derivatives and yet Acai Berry seems to think he's not bothered by them. The anti-Ricksters aren't even coming up with cogent arguments anymore.

[Graphite]

BTW as an Objectivist I take issue with that Hobbesian "wash the scum off the sidewalk" nonsense (not to mention the drug prohibitionism). Rick is expressing a lot of well deserved, undersupplied outrage at the idea that the economy will be saved by endlessly bailing out its least prudent participants, whether that's deadbeat borrowers or dumbass investment banks. But a lot of people were lulled into bad decisions by a central bank giving away money at interest rates lower than the rate of inflation, and they don't deserve that kind of withering contempt.

If the latter chapters of Atlas Shrugged come to pass I'm not going to be one of the ones in Galt's Gulch ... it's an outcome to fight, not embrace. This Chicago Tea Party's a great way to start.

[Bill]

God Bless Rick Santelli.

I feel sorry for the fools who keep pushing Obama's plan simply to justilfy their liberal slant and the poor decision to vote for Obama, yes Steve Liesman, I am talking about you, you fool.

[Ward D]

Atlas is going to shrug. And then he's going to pick up a gun.

[AuntieCoosa]

http://www.vatican.va/holy_father/leo_xiii/encyclicals/documents/hf_l-xiii_enc_20061888_libertas_en.html

But many there are who follow in the footsteps of Lucifer, and adopt as their own his rebellious cry, "I will not serve"; and consequently substitute for true liberty what is sheer and most foolish license. Such, for instance, are the men belonging to that widely spread and powerful organization, who, usurping the name of liberty, style themselves liberals.

For, to reject the supreme authority to God, and to cast off all obedience to Him in public matters, or even in private and domestic affairs, is the greatest perversion of liberty and the worst kind of liberalism; and what We have said must be understood to apply to this alone in its fullest sense.

From ENCYCLICAL OF POPE LEO XIII ON THE NATURE OF HUMAN LIBERTY

[WatchingMarcitz]

What amazes me is that in all the coverage of the housing bailout (and the whole housing crisis) the word "renter" is never used. There are 100,000,000 of us in the US alone, many of us ready to buy houses the minute the return to reasonable (and realistic) levels. The greatest irony is not only is the Obama plan bad for renters but hurting renters actually hurts home owners as well.

See more on how this works here:

http://watchingmarcitz.com/2009/02/22/obama-hurts-100-million-to-help-9-million/

[DailyBail]

@washingtonmarcitz

just so you know, i wrote about renters in my first article about this bailout:

"But bailing out an irresponsible neighbor who purchased more house than he could afford is understood by everyone. Particularly our most maligned housing sub-group, renters, all of whom made an intelligent choice NOT to participate in the real estate bubble, yet now are being asked to subsidize the mistakes of those who did. Considering that renters already get shafted by the unfair tax subsidies given to homeowners, this proposal accomplishes nothing further than reminding them how worthless they are in the eyes of Washington."

http://dailybail.com/home/2009/2/19/insane-america-obama-wants-you-to-bailout-the-asshats-who-li.html

[Shiva]

Rick Santelli is smart. Liesman is messed up in the head. This bail out is a bad idea. This country is becoming socialist, and I dont like it a bit

[Scott]

Liesman would have made a great Nazi!

[Mark]

And once again, renters and future home buyers are INVISIBLE AND DON'T MATTER. Kudlow "92% of Americans are paying their mortgage on time...." blah, blah, blah....And yes they should be angry.

But what the hell is with the media?? There are over 100 MILLION renters, many that want to buy a home, and they also pay taxes. They will have kick in for the $75B too. Think they want to pay to 'shore up' somebodies home 'value'? That just means they get to pay *more* for home later.

[John]

RENTERS!! This is America. RENTERS are as low as UNION MEMBERS!!! "Those PEOPLE" are mostly RENTERS!!!! If you love FREEDOM and DEMOCRACY and RONALD REAGAN then you love HOME OWNERS. Otherwise, the terrorist have won!!!

[Enough BS!]

I hope this becomes a full-blown revolution because I'm looking forward VERY MUCH to the executions that usually follow

[SoCal]

Much ado about nada. There will will be no tax revolt, nor any kind of revolution. You are willing to spend 20 years in jail, or worse, to follow some guy on cable TV? Why am I even bothering to post this?

Steve Liesman is the only watchable person on CNBC. Rick is reasonable most of the time, but he lost his mind on this one.

Obama's been in office all of 1 month, and he is to blame? Wow, you right-wing whack jobs are really in LA-LA Land. Have fun there.