By Adam Fogle | February 19th, 2009 | 0 comments

CHICAGO STOCK TRADERS MOCK OBAMA MORTGAGE BAILOUT ON CNBC

President Barack Obama yesterday unveiled his $75 billion plan to bail out homeowners who are behind on their mortgage payments. And so far, there hasn’t exactly been a whole lot of support.

The backlash has actually gotten so bad that stock traders (the folks in the weird aprons that are normally little more than extras during TV wide shots) in Obama’s home town of Chicago openly mocked the president’s plan during CNBC’s “Squawk Box” earlier today.

It started when a riled-up Rick Santelli gave a report from down in “the pit” which started by noting that “the government is promoting bad behavior” and ended with a rant about creating a website for people to vote on whether or not to “subsidize the losers’ mortgages.”

The traders immediately turned into angry, nerdy mob and began shouting out their support for Santelli and anger with Obama’s big-government, socialist approach to tackling the economic crisis.

“Obama, are you listening?” Santelli rhetorically asked. Let’s hope, for America’s sake, he was.


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