Traders on the floor at the Chicago Mercantile Exchange go crazy about Obama’s stimulus plan.
The one doing most of the talking is a chap by the name of Rick Santelli. It’s all delivered in the best ‘gangster’ accent, and if nothing else is a rapid-fire introduction to the concept of ‘moral hazard’.
“How many of you people want to pay for your neighbor’s mortgage that has an extra bathroom and can’t pay their bills? [Boos on the floor] President Obama, are you listening?”
“Do you think I want to take a shower every hour? The last place I’d want to live is DC.”
A tip of the hat to Jakob for the find.
UPDATE: Jakob has swung by and pointed out the Obama administration’s response, available here.
Santelli has responded to the response here.
The whole spat is getting nasty, with people arguing that the White House is directing personal attacks at members of the press (and private citizens, too). Gibbs does come across as a precious little snowflake. And he clearly doesn’t get the concept of moral hazard.