Report from the Tea Party front
More than 40 Tea Party protests were held Friday around the country; reports and photos are being posted on blogs all over the place.
Time for a Tea Party?
If you’re interested in the new ‘Tea Party’ movement of consumer unhappiness, here’s a schedule of events planned around the country.
I count 40(!) so far, almost all tomorrow (February 27); looks like there’s at least one ‘Tea Party’ planned for every major city.
(Update1): Bernanke Responds to Santelli’s Statement (bumped)
By now nearly the whole country is familiar with Rick Santelli and his passionate broadcast last week from the floor of the Chicago stock exchange. During his testimony today in front of a Senate committee, Federal Reserve Chairman Ben Bernanke was asked to respond to Mr. Santelli.
Senator Evan Bayh asked for Mr. Bernanke’s reaction to Santelli’s claim that President Obama’s housing plan essentially rewards homeowners for bad behavior.
The DC Tea Party
While we don’t want to harp on the Tea Party phenomenon, it’s becoming apparent from the new groups forming that there’s a lot of anger and frustration out there — and that it’s manifesting itself in a growing number of public protests.
The latest group, the New American Tea Party, bills itself as “the official Washington, D.C. Tea Party blog.” The group is planning “an event happening on February 27, at 12 pm, permits pending.”
The 92 Percent Solution
Perhaps it was inevitable. First, Rick Santelli’s rant last week on CNBC spawned the formation of the American Tea Party.
Now, there’s a new group in town:
The 92 Percent Group is committed to the preservation of free-market economics in the United States, specifically in relation to the Obama Administration’s Homeowner Affordability and Stability Plan. We believe this plan is unjust to the vast majority of American taxpayers; in particular to the 92 percent of homeowners who are current on their mortgages.
The ‘Tea Party’ goes national
What CNBC viewers began calling the Chicago Tea Party has begun to turn into a nationwide phenomenon as taxpayers across the US meet to protest the ’stimulus’ package. There’s a website, and even a Facebook page, for a group calling itself The American Tea Party.
Basically, taxpayers are fed up:
They’re Calling It the Chicago Tea Party
While reporting from the floor of the Chicago stock exchange, CNBC’s Rick Santelli riled up the traders that stood all around him as he spoke to news anchors in the studio about the administration’s new housing bill.
“How many people want to pay for their neighbor’s mortgage?” shouted Santelli. A loud and resounding “boo” was enough to quickly answer his question.
