Bailout du jour, Today it’s Foreclosures

I think there is a growing dissatisfaction with Washington and the way Congress and the Administration are spending taxpayer money. Take a look at this clip just released today by CNBC correspondent Rick Santelli. He has some advice for the Administration and the bailout du jour:

There seems to be a growing consensus that this new plan helps those that are irresponsible and only prolongs the inevitable. Just like the Detroit bailout, always coming back to the well, because that is where the money is. In other words, legal robbery.

Why do we keep rewarding irresponsible behavior? If someone’s house has been in foreclosure for 3-6 months what have they done with the money that would normally go for the monthly house payment? New car, vacation, shopping spree? Some of us have had to make hard decisions and honor the obligations that we have committed ourselves to. We have had to forego life’s niceties because skipping house payments are not an option. We cannot refinance our house and take advantage of the lower interest rates, even though our credit scores are in the mid 700′s and we have never been late on a payment.

Mr. President, with one stroke of the pen you have just informed the American people that reckless behavior has its place and will be rewarded. Mr. Obama, like you I also have a daughter. However unlike you, I am teaching my daughter that integrity and honor still matter, at least to some of us.

God Bless Rick Santelli!