According to creepy-looking Chuck Todd of NBC, this was the Administrations response to Rick Santelli (the video Patrick posted below):
"The stuff that I've heard from the White House and people that have talked to me about this, you know, they -- I think they're kind of laughing that they're getting lectured by a trader, in their minds on the Chicago Mercantile Exchange. And it's like, you know, this is -- you know, they're sitting there going, it's like -- to take the real criticism where this was coming from, the idea that, hey, are -- are you helping out people that, you know, should be punished, the fact is, they say, look, we are helping out people that should be punished, and we wish we could punish, but that isn't our role. Our role is to try to create stability in the economy and in the housing market."
What? What does any of that mean? Who do they wish could be punished?
3 comments:
And what a great job they've done thus far providing this so-called "stability." The Dow Jones has lost 10% of its value since Obama took office (and, to be fair, 32% since Paulson announced that spectacular bailout plan that was supposed to save us all), and every time one of these wise economic "experts" open their mouths about what they're going to do to "fix," "stimulate," and "stabilize" things, it loses another 300-400 points. What they need to do is shut up, stop tinkering, and get out of the way.
Obama's only been in office for a month and he's already spent or allocated trillions of dollars.
And tomorrow night, he'll go on TV and preach fiscal responsibility, making a serious pledge to cut the deficit in half by 2012. But that's like eating an entire large pan-crust meat-lovers from Papa John's on Monday night and then making a "serious pledge" to cut your daily fat intake in half by Wednesday night. Over half of the federal deficit has been created in just the last 10 days.
Either way, I'm sure CNN and NBC will be lapping it up nonstop. "Yes, finally the Democrats are going to return us to fiscal sanity! My daughter spent $2,000 at Oglethorpe Mall last weekend but she's pledged to only spend $1000 next weekend!"
The response sounds just like a mall rat from Lilburn, GA.
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