Comments on: Double-Checking My Homework

By: mpolzkill

mpolzkill — Thu, 26 Feb 2009 16:15:47 +0000

@DiverCity: It WAS HuffPo’s “gotcha”, not Gonigam’s. Politics is perception (the clichés are generally true) & it’s people like Santelli & Greenspan who hurt us terribly. I don’t think I have to elaborate to you how. “Impure”? More than a little “impure”.

By: bayou bobby

bayou bobby — Wed, 25 Feb 2009 12:01:04 +0000

Nothing quite like being wrong, reviewing the situation and insisting you’re not. Oh look, everybody’s out of step but my little Johnnie!

Well, Beulah the Buzzer blew once again. You’re off the show.

But stick to your guns. One day, and that day may never come, some one will inquire: How’s that working for you?

By: i.knoknot

i.knoknot — Wed, 25 Feb 2009 09:12:02 +0000

you *so* missed the point of most of the comments regarding your RS tea-party spew yesterday… and RS has nothing to do with it.

try again.

but keep carrying the flag against fiat currencies and for the free market, hooray!

Unlike some, most of us DR readers support moments of wisdom, regardless of the lunacy that may come along with it.

–ikk

By: cincinnatus

cincinnatus — Wed, 25 Feb 2009 08:35:21 +0000

Dave Gonigam, you are right. Santelli is not the standard bearer for free market capitalism. But at least he got one thing right.

I think he deserve a pat on the back.

By: J.Galt.Inc

J.Galt.Inc — Wed, 25 Feb 2009 04:00:12 +0000

Actually, the guy leading the popular revolt is Ron Paul. Check out HIS YouTube stuff sometime. Rick Santelli is speaking truth as much as he sees it in any moment….much more than any other talking head on TV.

By: doug

doug — Wed, 25 Feb 2009 02:50:55 +0000

I agree 100 % Dave where has this moron been for the last trillion of bail outs? Maybe on G Gordon Liddys show whining ? What a coward!!!! The Daily Reckoning rocks has been the best read of the last 10 years refuting the CNBC and Fox News talking head idiots. Keep up the good work !!!!!

By: William Flynn

William Flynn — Wed, 25 Feb 2009 00:40:50 +0000

Change? The plutocracy has different spokespeople, but the message is the same: “Either you’re with us or you’re against us”. If Rick Santelli got “played”, then hope is pronounced “duhope”. I suspect Santelli is bothered most by the manipulation of the bond market, where money is printed to bid up prices/bid down rates in order to sell more unborn American souls to the Chinese. Hey, how ’bout a little Feral (sp?) financing MY casket?

By: cpl593h

cpl593h — Tue, 24 Feb 2009 20:30:04 +0000

Very fuzzy logic Dave.

What I’m equally pissed about today is the ‘seems I’ve touched a nerve’ comment (with the barely disguised implication being ‘I’m always correct but look at these crazies on my case’ – not good.

Next time, try beating the right guy.

By: Savoy

Savoy — Tue, 24 Feb 2009 19:55:28 +0000

The point of my comments yesterday was to suggest that you save your invective for the folks actually SUPPORTING the bailouts with whom you, yourself, disagree.

Why are you calling this man out for saying what you would acknowledge is correct – namely: that it is unjust, unwise and a moral hazard to penalize those who act uprightly and wisely to bailout those who did not…?

You called this man a “chump”.

I’ll welcome every voice on my side of this THING going on… I’m not going to help squash such a voice because he’s not an ideological libertarian for heaven’s sake!

No wonder our side never gets anywhere…

By: david

david — Tue, 24 Feb 2009 18:50:36 +0000

here’s a simple test. did the investor take a risk?

putting money in money market is not taking a risk. buying treasuries is not taking a risk. so you’re arguement about FDIC falls flat.

Buying CDOs on the other hand is taking a risk. Buying real estate is taking a risk.

Let’s segregate using common sense who should be included in any bailout (insured up to a certain amount) and who should pay some price.

The problem is that the govt. wants to protect the wrong class of investors. they want to protect the creditors when they should actually ask the creditors to write down some of their receivables (a la bankruptcy).

Won’t happen politically unless enough Santelli’s make enough noise…so far though they’re trying to paint him as an out of touch derivative trader and not an ordinary american…this is class politics at its most lurid…as far as i’m concerned, go Santelli!