thedailyshow.com— CNBC's Rick Santelli is angry that those loser homeowners are going to get bailed out. This is why you don't cancel on The Daily Show.
Mar 5, 2009View in Crawl 4
@fmaxwellPast performance is no guarantee of future returns...on any investment. Being a savvy investor, I'm sure you've heard that before. Houses are no different. Just because for the past 10 years we could almost count on 10% appreciation per year should never mean that we should expect it next year...or the year after. That's the point that was made. Sure, at the time it sounded like a great investment. You couldn't lose money. You were guaranteed to make money, so go ahead, buy the 5/30 ARM because in 5 years, your $800K house will be worth $900K. And I'm sure those days will return. But we all know what people say about things are sound too good to be true. While I don't doubt your investing savvy, I'm not sure I agree with your point. I lost quite a bit in the stock market the past 2 years...but will I get a bailout? Do I deserve a bailout? By your logic, I do...since at the time, the market returned on average 10% a year. However, an investment is an investment...and there is risk. If you can't handle the downside, don't play the game.
Dylan - f**k you too then. I for one am willing to say that. If you would steal billions your a piece. If you steal ten dollars you're a piece. My daddy taught me not to touch anything that wasn't mine. Whether you get them from intelligence or religion, morals and ethics are something to be valued not cast away when you can avoid being caught. Look this up in a dictionary: integrity.The expense wasn't his reputation; it was obviously affected many people and a whole worldwide economy.
Correct me if I'm wrong, but wasn't it lower-level banks who sold these bad mortgages to upper-level banks? If the lower-level banks had had a better screening process, and if they hadn't sold the junk mortgages up the ladder, the damage would've been more localized. Again, correct me if I'm wrong.
bastiphanMar 6, 2009
@fmaxwellPast performance is no guarantee of future returns...on any investment. Being a savvy investor, I'm sure you've heard that before. Houses are no different. Just because for the past 10 years we could almost count on 10% appreciation per year should never mean that we should expect it next year...or the year after. That's the point that was made. Sure, at the time it sounded like a great investment. You couldn't lose money. You were guaranteed to make money, so go ahead, buy the 5/30 ARM because in 5 years, your $800K house will be worth $900K. And I'm sure those days will return. But we all know what people say about things are sound too good to be true. While I don't doubt your investing savvy, I'm not sure I agree with your point. I lost quite a bit in the stock market the past 2 years...but will I get a bailout? Do I deserve a bailout? By your logic, I do...since at the time, the market returned on average 10% a year. However, an investment is an investment...and there is risk. If you can't handle the downside, don't play the game.
Closed AccountMar 6, 2009
Dylan - f**k you too then. I for one am willing to say that. If you would steal billions your a piece. If you steal ten dollars you're a piece. My daddy taught me not to touch anything that wasn't mine. Whether you get them from intelligence or religion, morals and ethics are something to be valued not cast away when you can avoid being caught. Look this up in a dictionary: integrity.The expense wasn't his reputation; it was obviously affected many people and a whole worldwide economy.
soelinnMar 6, 2009
Obama & Biden - 2012Stewart & Colbert - 2016
Closed AccountMar 7, 2009
Because unscripted writing and actor Jon 'Stewart" won't happen.
Closed AccountMar 7, 2009
Television just doesn't get any better than this.
analogkid01Mar 8, 2009
Correct me if I'm wrong, but wasn't it lower-level banks who sold these bad mortgages to upper-level banks? If the lower-level banks had had a better screening process, and if they hadn't sold the junk mortgages up the ladder, the damage would've been more localized. Again, correct me if I'm wrong.