otbricki

"In the annals of CNBC cluelessness, this morning’s outburst by the channel’s Rick Santelli is up there with the worst." (Columbia Journalism Review)

I agree with Santelli that this is a horrible state of affairs, and in fact it is rewarding people who should not be rewarded.

BUT.

Are you offering an alternative to this program which will take away the damage to the overall economy? Some times you have to prescribe medicine that has undesirable side effects, and tastes really really bad.

This is the problem with Santelli. His solution is to just do nothing, to let the whole system come down around us without fighting back based on a faith that 'markets will solve the problem'. Maybe they will and maybe they won't, but a lot of pain in between might be avoided.