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David A. Schwinghammer

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Books
· Soldier's Gap


Short Stories
· Mengele's Double, Chapter 9

· Seminary Boy, a memoir

· Fisher of Men, Chapter Nine

· Soldier's Gap, Chapter Three

· Honest Thief, Tender Murderer, Chapter Nine

· Fisher of Men, Chapter 8

· Honest Thief, Tender Murderer, Chapter Eight

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· Bereavement Blues

· Fisher of Men, Chapter 7


Articles
· Flights of Passage, book review

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· The God Particle

· Empire of Sin, book review

· Science at the Edge, book review

· Obama, a Modern Caesar?


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· Widow's Peak

· Myth

· Alumni Game

· Stradivarius

· Snow-a-holic

· Girls Who Wear Glasses

· The Do Drop Inn

· Ode to Neve Campbell

· Jacks or Better 101

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Blogs by David A. Schwinghammer

Rick Santelli's Rant
1/18/2012 8:28:43 AM    [ Flag as Inappropriate ]

Supposed journalist rants about Obama's mortgage
proposal one month after the president took office.


I recently finished reading a book by the author of WHAT'S THE MATTER WITH KANSAS, Thomas Frank. The new one is entitled PITY THE BILLIONAIRE and is an attempt to explain how conservative politicans managed to turn the mortgage debacle on big government instead of Wall Street.

Eventually Frank gets around to Rick Santelli's rant on the Chicago Board of Trade, which is given some credit for starting the Tea Party movement. I had never watched it before because I have about as much respect for Wall Street gamblers as I do for Jack the Ripper. And the Ripper may have had more human empathy. In the clip I saw, Santelli was talking to some other reporters back in the studio. It's not really a Howard Beale type rant, because they keep interrupting him. I wasn't able to nail down exactly who Santelli works for, but if he's a real journalist he didn't learn much in school with all the gross generalizations he makes. Santelli's main complaint is the TARP "requirement" that banks renegotiate housing loans, allowing people to stay in their homes and avoid foreclosures. Santelli says he doesn't want to pay for "losers" who don't want to pay their mortgages on houses with two bathrooms they couldn't afford in the first place. You know, Ayn Rand stuff. Well, that's just nuts. First off, that's an "all or none" statement and as a journalist he should no better, even if he is talking off the cuff with his fellow town criers in the studio. Then he makes the reference to the Boston Tea Party, which apparently gave the movement its name. Okay, let's back up and try to figure out why he thinks he's paying for renegotiating those mortgages. I suppose because he pays some taxes on investments he makes with all that inside information he stumbles across as a reporter. If he's like Mitt Romney he pays 15%, which should be more like 35%. His mistake, the same one most Tea Party followers make, is that the Boston Tea Party was all about taxes. No way, Jose. It was about taxation without representation. With the Supreme Court on their side, Teabaggers, who tend to be richer than the rest of us acoording to a New York Times, now have more representatives than the rest of us because of the Super PACS. We see them in action in South Carolina. Watch one of their ads once. There's little regard for fairness. But the Boston Tea Party was about a lot more than that. The East India Company, one of the biggest corporations in the world at the time, was trying to force the colonists to buy their tea, and that's why they disguised themselves as indians and threw the tea overboard. In other words, they had more in common with the Occupy Wallstreet people than the Teabaggers.

This whole Tea Party movement had more to do with sore losers, with some racism thrown in, than any protest against government intrusion in the market. The GOP has been making that pitch ever since FDR. But they forget, we had forty years of prosperity after the government began regulating the banks and Wall Street. These days we have boom periods and recessions every couple of years, thanks to their deregulation and their attempts to pull the teeth of agencies like the Securities Exchange Commission.

One of the most telling facts Frank makes in his PITY THE BILLIONAIRE book is that the gross national product went up by double digits every year from 1933 to 1937, despite conservative attempts to blame deficit spending for the Great Depression. The GNP only went down after FDR made the mistake of trying to balance the budget in 1937, and the economy really took off after we were forced to spend like crazy people fighting two wars simultaneously. The national debt didn't really take off until Super Ron Regan increased it from under a trillion dollars to four trillion by the time he left office. All we got for that was a military industrial complex. Reagan got credit for ending the Cold War when in reality the communists' war in Afghanistan and other mistakes did them in.

I'm not saying we don't need to balance the budget. Of course we do, but not at the cost of giving in to some 19th century ideology and forsaking social services. We just need to raise the cap on social security, forbid the government from borrowing from it, and tame the hospitals, clinics, and insurance companies who charge unreasonable fees, and come up with a fair tax code. If Warren Buffett, the second richest man in the US, says he doesn't pay enough taxes, it's pretty sure other billionaires don't either.


Comments (1)

More Blogs by David A. Schwinghammer
• Our Bloodiest War - Tuesday, March 17, 2015
• Greedheads - Monday, September 29, 2014
• Worst President Since WWII? - Monday, July 07, 2014
• Tenure for Teachers - Thursday, June 26, 2014
• Koch Brothers Interfere in Local Election - Thursday, May 08, 2014
• The Wolly Mammoth - Wednesday, April 23, 2014
• Fran Tarkenton's political ad - Friday, March 14, 2014
• Propaganda vs. Legitimate Commentary - Sunday, February 23, 2014
• Porn as a Political Issue - Tuesday, February 18, 2014
• Drive a Stake Through the Vampires' Hearts! - Thursday, February 06, 2014
• State of the Union Stem-winder - Wednesday, January 29, 2014
• Ted Cruz - Tuesday, November 19, 2013
• Here We Go Again. - Thursday, September 19, 2013
• Reality TV - Friday, August 09, 2013
• Common Sense - Tuesday, July 30, 2013
• Skunks Believe Everybody Else Stinks - Thursday, May 16, 2013
• The Morning After Pill - Friday, April 12, 2013
• What Would Thomas Jefferson Say? - Saturday, April 06, 2013
• Boneheads - Tuesday, March 12, 2013
• Why Benedict XVI Resigned - Sunday, February 17, 2013
• Gabby Giffords Testifies - Wednesday, January 30, 2013
• Newspaper Caters to Gun Owners - Wednesday, January 23, 2013
• Piers Morgan Deserves a Medal - Monday, December 24, 2012
• The Red Devil and the Blue Devil? - Tuesday, October 30, 2012
• Is the new TV show, REVOLUTION, fantasy? - Wednesday, September 26, 2012
• Fanatical Moslems Aren't That Different From Our Fanatics - Wednesday, September 12, 2012
• We Need the United Nations - Wednesday, July 18, 2012
• Stop Catering to People's Basest Instincts - Monday, July 09, 2012
• Concerned Women for America political ad - Saturday, June 23, 2012
• Independent Voters Need to Pick a Side - Monday, June 11, 2012
• Romney's Solyndra Appearance - Friday, June 01, 2012
• Single Issue Voters - Sunday, May 20, 2012
• Bully or Sociopath? - Saturday, May 12, 2012
• Tan-orexic Woman Poor Role Model - Friday, May 04, 2012
• So Far Right They're Almost Left - Sunday, April 22, 2012
• Dog Eat Dog - Sunday, April 15, 2012
• The Tea Party is Back! - Sunday, March 25, 2012
• Gas Prices - Tuesday, March 13, 2012
• "Doofus" - Tuesday, March 06, 2012
• Bon Iver Front Man Makes Important Statement - Thursday, February 16, 2012
• Contraception Blowback - Friday, February 10, 2012
• 800 vetoes! - Saturday, February 04, 2012
• Issa Hounding Holder over GOP program - Thursday, February 02, 2012
•  Rick Santelli's Rant - Wednesday, January 18, 2012  
• Corporate Raider President? - Thursday, December 01, 2011
• Is This the Best They Can Do? - Thursday, November 17, 2011
• Tea Party a non-violent Movement? - Sunday, October 30, 2011
• Wall Street Protests - Wednesday, October 05, 2011
• Three new stooges - Thursday, August 25, 2011
• Hypocrite enters the race - Friday, August 19, 2011
• Business Leaders Need to Speak Out - Saturday, July 30, 2011
• Rupert Murdoch and GOP Credibility - Monday, July 25, 2011
• Playing on the railroad tracks - Sunday, July 17, 2011
• Scapegoating - Sunday, June 19, 2011
• The Biggest Swindle in US history - Friday, June 03, 2011
• We're Still Here! - Saturday, May 21, 2011
• Improve education by improving teacher morale - Wednesday, May 04, 2011
• Tea Partiers Don't Know What They're Talking About - Thursday, April 28, 2011
• General Electric paid no corporate taxes - Tuesday, April 05, 2011
• The Flat Earth Society is at it again! - Thursday, March 17, 2011
• Crap fest - Thursday, March 03, 2011
• Egyptian Revolution - Tuesday, February 08, 2011
• Tucson - Wednesday, January 12, 2011
• Would you want a right-winger for a neighbor? - Friday, January 07, 2011
• Noah's Ark Museum - Monday, December 06, 2010
• Frick and Frack Shoot Off Their Mouths - Friday, November 05, 2010
• Enthusiam Gap - Wednesday, October 27, 2010
• Super Computer - Tuesday, October 19, 2010
• US Chamber of Commerce, conservative front group. - Wednesday, October 13, 2010
• 13 Reasons to vote the straight democratic ticket - Wednesday, September 01, 2010
• Breitbart Makes Segretti look like a choirboy - Wednesday, July 28, 2010
• House on Fire? - Thursday, June 17, 2010
• The Blame Game - Friday, May 28, 2010
• National Prayer Day - Tuesday, May 18, 2010
• Conservative psyche (continued) - Friday, May 14, 2010
• Conservative psyche - Wednesday, May 12, 2010
• Are you smarter than a half-term governor? - Wednesday, April 14, 2010
• Rewriting History - Monday, April 05, 2010
• Fred Phelps - Friday, April 02, 2010
• Combing the Daily Newspaper - Wednesday, March 17, 2010
• Noir - Friday, November 06, 2009
• Interview with SOLDIER'S GAP author continued - Tuesday, November 03, 2009
• More from SOLDIER'S GAP author - Thursday, October 29, 2009
• SOLDIER'S GAP author answers questions. - Thursday, October 22, 2009
• Everything you always wanted to know about writing a novel - Tuesday, October 20, 2009
• Manuscript conventions - Thursday, September 10, 2009
• Revision - Monday, September 07, 2009
• Dialogue - Thursday, September 03, 2009
• Scene cards - Tuesday, September 01, 2009
• Point of view - Thursday, August 27, 2009
• Plot - Tuesday, August 25, 2009
• Arnie's dream - Friday, August 21, 2009
• Rituals - Thursday, August 20, 2009
• Dressing Arnie Vogel - Tuesday, August 18, 2009
• Character sketch continued - Friday, August 14, 2009
• Character sketch - Thursday, August 13, 2009
• Characterization - Wednesday, August 12, 2009
• Scene outline - Tuesday, August 11, 2009
• Warm-up activity - Freewriting - Monday, August 10, 2009
• Warm-up activity - brainstorming - Sunday, August 09, 2009
• Warm-up techniques (clustering) - Saturday, August 08, 2009


Mob City: Reno by Al Moe

The growth of the Mob in the casino city of Reno, Nevada...  
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