The Tea Party Revolt and the Politics of Ignorance

[...] Random Feed wrote an interesting post today onHere’s a quick excerptAs Dave Weigel notes , the Tea Party movement to protest the mortgage rescue plan and other government bailouts rolls on, with a planned rally Friday in front of the White House. The revolt over bailouts got a big boost last week with the televised rant by CNBC’s Rick Santelli against helping troubled borrowers, and only has grown since then. Even Joe the Plumber is expected to show up on Friday, ensuring even more media coverage of the event. When it comes to the mortgage rescue piece, I’m [...]

If you are going to bash the organization of this protest, you should at least have a grasp of the basic idea. While the housing bill may have been what sparked the tea party rant by Rick, it is only one spending bill on a list of spending bills that concerns those which will be attending, myself included.

It does not take a genius such as you to understand the extent that government is becoming involved in our economy. Some people disagree with these actions taken our elected officials. Thankfully we have the right to peacefully assemble to protest these massive spending policies; much like you have the right to author this arrogant yet ironic article.

You are the only ignoramus here, Mary.

What right or legal authority does the Federal government have to bail out home “owners” (really glorified renters when they have hardly any money down), bail out banks engaged in fraudulent financial practices and any other failed business model that needs a hand out?

There is nothing ignorant about saying the government should protect individual property rights, protect contracts and keep it's nose out of the free market.

You are another ignoramus that thinks the economy is collapsing because of the evil unregulated free market. WRONG

This housing bubble was created by the government and the Fed. The low interest rates, the “Ownership” society and the flood of cheap money and fraudulent mortgage lending practices promoted by the government via Fannie and Freddie. We are suffering the inevitable, unstoppable collapse of a credit bubble that was created by the government and the Fed. We can not fix it by more spending you ignoramus!!

Mary, I think you've missed the boat. The problem here is not that the administration's plan helps some homeowners who are delinquent, it's that it does NOTHING to help those homeowners who are bearing the brunt of the effect of those delinquent homeowners on the real economy. Very few people will even be eligible for refinancing under the Obama plan—why? NOT, as you say, because they bought more home than they could afford, but because, through no fault of their own, their home now is worth about 50% less than when they bought it. These are the millions of homeowners you, the administration and apparently “loan mod junkies” are willing to ignore. And they are the ones who are truly ticked off, because they are the only ones doing the heavy lifting at the consumer level in this economy. Bailout the losers all you want, BUT use a bunch of the government's [apparently] “free money” to free up those homeowners who could help the real economy if only they weren't—through LOST HOME VALUES—paying for their neighbor's excesses. Here:
http://www.associatedcontent.com/article/150039…

Free market? You DID just fall off the turnip truck when it went by. The market as such is a crooked game tilted by the crooks to their advantage. There is NO SUCH THING as a free or unmanaged market in the whole world. The whole concept is a fantasy tweaked by wingnuts and fantasists who want you to carry the weight for their delusions. Please, give up the Austrian fantasy.

MARY KANE – YOU ARE FULL OF CRAP
We are not stupid… when you spend $789Billion on ANYTHING when you don't have the money to spend – then the general public doesn't need to read anything to know this IS A STUPID ACT -PAR FOR GOVERNMENT. Besides, the real crime is for the house/senate to pass it when you know damn well they haven't read it… Get ready for a real revolution… go google 'Gerald Celente' and the 'collapse of 2009' and listen to him talk about VIOLENT TAX PROTESTS… don't think for a minute it won't happen… make sure you steer clear…

…i'm a high school student, not that any of you care, but i've read A LOT of history and know a lot of things and to all of you “kind,helpful” democrats. You are a bunch of power hungry mongers and everthing you do is detrimental to this country. How is spending 789 billion dollars going to get us out of a bad economic situation? “We're in this spot because we were fiscally irresponsible… hmmm i know how to get us out, let's spend more!” Let's think logically here, oh ya that's right, it's not about logic, it's about government power. This so called “stimulus” is a joke. Most of the money is going to be used for petty projects such as a magnetic train that runs from Vegas to Disneyland. OOOOhh that's something we all need. That's really going to stimulate the economy.
The value of the dollar is slowly decreasing. Someone please tell me how PRINTING more money that's used for the stimulus going to help this AT ALL. Logic again just GIVING out more money means the dollar, that some hard-working people worked for, is now worth less. Way to make American workers confident. In the near future there is going to be inflation like we haven't seen is years. It's going to kill Americans. When this happens the government is going to trick the majority of American(again) by telling them the only way to fix the problem is to increase taxes so they can solve the problem….then the same thing happens after that and so on and so forth.
I'm glad that there are people with balls that are willing to stand up for what this country is all about. I support you all. This is a brave thing to do. Mr. Obama needs to no that a pretty good chunk of America is not happy. That he hasn't tricked them.
God bless America…we sure need it. lol if you want to here me rant about anything else you can email me at zlyons1191@gmail.com(no death threats please lol)

Actually the tea parties are about more than just protesting the mortgage bailout. People are angry that their hardearned money is being redistributed to others who haven't lived as responsibly. You speak down to Santelli and those of us who are protesting by assuming we haven't read the proposal and therefore, haven't done our homework. If you recall, the stimulus bill wasn't read by any of the politicians who voted on it, so really, what is your point? There is no “very modest government effort” going on here. Rather there is a very aggressive government effort to redistribute wealth in play. We're mad and we are informed.

I keep searching, and searching, and searching, and searching to find a news article that said they did not read it before signing it. I've googled page after page. I get results of that claim from,CNS News-The RIGHT News, Right Now, blogs such as sodahead, marijuana.com, thenextright, and AskYahoo. But absolutely none from a normal news outlet. Did you vote for McCain? His proposal was a 3 quadriliion dollar mortgage buyout by the federal government. Where exactly were you guys for the last 6-8 years? Why did that not piss you off? Is the real issue that it really only matters which political party happens to be handing you money and driving up the deficit? You guys, unfortunately, come off as completely unhinged. You have every right to question and protest, but you act like such paranoiacs, you're really a little too scary to get close to. You were too afraid to stand up to your party when they were doing it, because you were too busy calling everybody who disagreed libtards and questioning their patriotism, and NOW you're pissed? You had your chance, and you sat and you did nothing. That is why no one but people exactly like you listen to you. Your credibility is shot.

You're putting a lot of unfounded trust in Obama's HASP program. If you haven't yet learned that his promises far outstrip his delivery, you're gonna find out the hard way. Yes, he promised that only “responsible” homeowners will be helped — and for the taxpayers' sake and his political future I sincerely hope he's right — but the head of the FDIC, Sheila Bair, has already <a href=”http://www.npr.org/templates/story/story.php?storyId=100882416″dumped cold water on that:

Should people who overstated their income or their assets to obtain their original mortgage be eligible for taxpayer-funded assistance?

“I think it's just simply impractical to try to do a forensic analysis of each and every one of these delinquent loans that may have been originated two or three years back to find out whether income had been appropriately stated at that time,” she says.

Another fact to consider is that the government's own statistics (via the OCC) show that 55% of loan mods fail within 6 months. What then — bail out these homeowners a second time?

I think you'll find that most of us are sympathetic to homeowners who are in trouble through no fault of their own. But Obama had better be very careful. And you should be a little less condescending. You're not an expert, *either.*

Californians are with you, let's make a difference. Capt Sully is with us and a neighbor, as you no he is a hot ticket now. My Name is Frannie and I live in Danville, CA

Mad yes. Informed no. Not even close. Even if you had read the bill, you may as well have had a tea party for tax dollar usage. Once you pay the taxes you have no choice of how they are going to be used. Where is the protest for the bail out the bankers movement. Will you protest when basic services are no longer available in your area as no there is around to make the property tax payments? I think it will go along the lines of “where's my bailout?” when police don't show up for the fifth drive by shooting that week from the three boarded up crack house across from your home. Kids take a stray few rounds in the gut? Tough eh? Protest that.

Do you really thing house thieves will stop at foreclosed properties in your neighborhood , especially when they have been picked over and yours is sitting right there with no one home but the hairless mutt. Then lets talk about how much of your tax money would be directed at this problem if the bill was comprehensive. Lets try about 1% if that. Now if some one said to me, in light of these circumstances ,would you prefer to have 1% of your taxes directed at this problem or say building a few new nukes. I would probably opt for the mortgage problem if someone ever gave me that choice. Cause after all you are doing is protesting the govt using tax dollars they would have used anyway to keep your house from being robbed and driven to a value shack level price.

We're protesting the right to have our houses being stripped of equity and quite possibly have our valuabled stolen and family members hurt or killed. Let them Die we say!

One question: Does it hurt when you think?

Point well taken and it's a good consideration of the protest, however…

You write as if you are interested in considering fundamentals. Fundamentally we should first agree that the US Constitution is the law of the land. That's it. Not a very popular approach in DC, sad and pathetic.

Now then,

What part of the US Constitution gives the power to government to dictate winners and losers in ANY marketplace?

All that needs to be said. Let's move on.

Looks like this article should have been titled “The Tea Party Revolt and the Politics of Arrogance” I suppose we “Tea Party folks” should be ashamed at not showing the proper deference to our betters regarding what this “modest government effort” is all about.

You are missing the biggest picture here, as bad as the mortgage bailout is, the problem is it is just one terrible step after another toward socialism, which is proven does not work!!! I hope that before you complain about what some people have or have not read, you have read Milton Friedman; if not, try it, you may actually learn something.

mary kane,

these protests will continue and get bigger as obama's plan's to socialize this country move's forward.
you need to read between the lines and expand your understanding of what we are all about.
this country is about to move in the path of britain, and look where they are now.
you people are mad, uneducated and need to be more worldly about your opinions of how this country should move forward.
elllen saverino

[...] there is some context to this entire fiasco, but really…why bother? All you need to know is that the conservative [...]

[...] the obvious numbers — 7.6 percent unemployment, 6,600 foreclosures a day — the depressing indicators keep piling up, each statistic representing more pain and [...]

[...] How bad are things getting? Beyond the obvious numbers — 7.6 percent unemployment, 6,600 foreclosures a day — the depressing indicators keep piling up, each statistic representing more pain and hardship. [...]

[...] By Mary Kane 2/26/09 9:44 AM. As Dave Weigel notes, the Tea Party movement to protest the mortgage rescue plan and other government bailouts rolls on, with a planned rally Friday in front of the White House. The revolt over bailouts got …Original post by somebody [...]

So, those of us who didn't go trying to follow the Joneses (who are greatly responsible for creating this housing market crisis and, in my opinion, the near depression we are in), are the “politics of ignorance?” I agree whoever retitled this “politics of arragonce” on that of the writer. Who, probably had something to do with this great mess as a “mortgage modifier.” Please. We are going to be socialist; there is no doubt. I chose to live “within my means.” I SHOULD be given the REWARD. Damn, I knew I should have purchased that million dollar house when they told me I could. If only I had known Obama and the rest of the hard working American people will pay for it later! But then, I had no idea the American people would vote in such a screwed up party.

I really cannot believe that any American would allow a government body to hold more power than the individual. All the plans that have been put in place (Tarp, Mortgage relief, border security) are all just a facade. This guy is going to bankrupt America. If you own a home or any other real property, get ready to have eminent domain come into effect. halthcare reform, Didn't Hillary try that…Oh well. Barack is a God….These people in washington deserve to serve prison sentences for the Ponzi scheme they have committed against the American Taxpayer…

The writer falsely believes she's superior to “Joe Plumber” types and accuses the “Tea Party folks” of not reading the bailout plan. Well, surprise surprise! As it turns out, neither have most members of congress nor has the writer who admits to getting her information by spending a week “talking to housing advocates and experts.” The “foreclosure mess” as she calls it, has become a government imposed burden on taxpayers. That's indisputable. Ms. Kane clearly doesn't understand the economics of printing billions upon billions of dollars to pay for toxic bank-assets and the hyperinflation that will inevitably result. I have more respect for the average American protesters and find Ms. Kane to be appallingly ignorant.

Kane has missed the point or is trying to spin the “Tea Party” purpose as misguided ignorance.The powder keg which you now sit upon ma'am is the beginning much as the original “Tea Party”.We are tired of being over taxed.We protest liberal fascism and the power grabbing failed solutions to problems they the congress have created.
You neglect to mention that it was Federal regulations to make high risk loans to people who could not afford them i.e. Fanny Mae and Mac. and the miss-management by people like Barney Frank and many others.
Perhaps we seem scattered in our purpose because they have provided so many reasons to be in open revolt.

You don't understand Mary, we can't afford it. If I loose my job and can't pay my bills, I'll move to where the jobs are. Not sit at home crying.
Thanks
Jack

Don't raise taxes!

Okay, so if you don't want more spending, that's fine!!!! Let everyone whose loan is unaffordable foreclose!!! Let the banks just all collapse and not get any bailout money anymore!!!!! Then let's just wait and see what happens to the economy!!!! Let's just let the cookies crumble!!!!!

Okay, so if you don't want more spending, that's fine!!!! Let everyone whose loan is unaffordable foreclose!!! Let the banks just all collapse and not get any bailout money anymore!!!!! Then let's just wait and see what happens to the economy!!!! Let's just let the cookies crumble!!!!!

I know this is outdated but I just wanted to throw this out there.

The Banks and financial Institutions got bail outs.done deal.

The entire real estate market is a mess because Congress DID NOT WANT TO REGULATE the industry back in 2004 and 2005.
Maxine Waters and the like said “desk top underwriting” and “access to the American dream” were reasons to REWARD Fannie Mae and Freddie MAc. All they did was PUSH AMERICA and the World Economy into this mess.

So don't believe that REPUBLICANS did not want to regulate the industry.
THE fact is DEMOCRATS accused REPUBLICANS and the REGULATOR of being racist.

The ONLY real fault for the REPUBLICANS is that they did not stand up for their beliefs.

So now they create a whole new SCAM industry…loan modifications….

How about this….

forget about tax payers cash…

Simply…

double the YEARS required to pay a mortgage.
If you pay $3,000 now, you pay $1500.
If you are 3 payments or more behind, require the payment as to be made over one year.

NO modification fees, no lawyers, just paperwork.

Now..if you are underwater because you don't have a job, then any modification won't help you.

I don't want to hear about investors, lawsuits, banking laws…blah blah blah…
To hell with the investors…Take a few MILLION (not BILLIONS) and fight the investor lawsuits. There are no gaurantees in investing.

I know this is outdated but I just wanted to throw this out there.

The Banks and financial Institutions got bail outs.done deal.

The entire real estate market is a mess because Congress DID NOT WANT TO REGULATE the industry back in 2004 and 2005.
Maxine Waters and the like said “desk top underwriting” and “access to the American dream” were reasons to REWARD Fannie Mae and Freddie MAc. All they did was PUSH AMERICA and the World Economy into this mess.

So don't believe that REPUBLICANS did not want to regulate the industry.
THE fact is DEMOCRATS accused REPUBLICANS and the REGULATOR of being racist.

The ONLY real fault for the REPUBLICANS is that they did not stand up for their beliefs.

So now they create a whole new SCAM industry…loan modifications….

How about this….

forget about tax payers cash…

Simply…

double the YEARS required to pay a mortgage.
If you pay $3,000 now, you pay $1500.
If you are 3 payments or more behind, require the payment as to be made over one year.

NO modification fees, no lawyers, just paperwork.

Now..if you are underwater because you don't have a job, then any modification won't help you.

I don't want to hear about investors, lawsuits, banking laws…blah blah blah…
To hell with the investors…Take a few MILLION (not BILLIONS) and fight the investor lawsuits. There are no gaurantees in investing.

I think there's a problem with people not giving others the credit they are due.

think the book would be an appropriate follow-up to Janet Porter's “Pink Slip” campaign from this past Winter. I hope you agree!

Here is a direct link to the sample I put together for your viewing: http://www.lulu.com/product/paperback/everything-congress-knows-about-the-constitution/12469949