Rick Santelli is an Idiot…Still

I posted this a while back.  See it here.  I was responding to this moron the first time he opened his idiot face and let venom spew.   Of course, since he’s still slithering around out there, the post continues to garner hits, over two years later.  I reread what I wrote, and I can’t really improve on it.  All I said is still true.  So I’m posting it again.

Rick Santelli is an Idiot

I can’t believe this guy.  I heard him spouting off about how Americans shouldn’t pay for their neighbor to have one more bathroom.  I wanted to reach into the screen and slap his ugly head.  What an idiot.

Here’s a clue, Mr. Smarty Pants:  People who are in foreclosure are in foreclosure because the system is a mess, not because they are “deadbeats” and want a free ride from the government or their neighbors.  Want to point fingers, idiot?  Point them at the banks that overvalued properties in the first place to get people into questionable loans so brokers could collect bigger fees.  Point those fingers at the lenders for telling consumers that their ARM loan wouldn’t be a problem because they would be able to refinance in three years when the rates change (and hey, rates have been going down forever, so  why shouldn’t this continue? Your payment will be lower!) while simultaneously neglecting to point out there would be no way in hell any traditional lender would refinance property that is mortgaged for more than it is worth.  And oh, be sure to keep it a secret from the borrower that refinancing will not be an option if you lose your job.  How about pointing the fingers at lenders who convinced people to take out that second mortgage or a HELOC to “consolidate their debt” without pointing out that trading unsecured debt for secured debt would make bankruptcy pointless should the need arise?  How about pointing fingers at the pathetic and useless Bush administration who drove us into an economic crisis and higher unemployment than we have seen in decades?  Let’s just blame the victim for losing their job.  They should have known to move to China or India ten years ago so they would be there when their jobs were shipped overseas.

I heard the jerk in an interview claim that buyers should have hired lawyers.  Guess what?  Lawyers aren’t free.  And assuming someone could afford $225 an hour to hire one, a lawyer wouldn’t hire an appraiser to know that the bank overvalued the property.  Plus hiring an attorney when you buy a house is theoretically unnecessary anyway.  Mortgage brokers and lenders have a fiduciary duty of care to their clients.  This means they are held to a higher standard of care in dealing with the public.  They are expected to act EXTRA honest because it is expected that they have greater knowledge about the mortgage industry than consumers.  How does this work, Mr. Santelli?  Are the consumers supposed to suddenly educate themselves so they can catch dishonest bankers and brokers?  Would you hold a patient to the same duty before going to a doctor?  Am I supposed to go get an MBA before I go to a financial expert to ensure they are upholding their fiduciary duty?  Should I get an MD before going to the doctor?

I can’t stand the mentality that we are not obligated to help one another.  Guess what?  We are all in this together.  We can sit in our foreclosed bunkers with our guns aimed at our neighbors and barbed wire wrapped around our hearts to protect us from the enemy, ensuring we keep that property because, hell, it belongs to us, right?  We don’t need to share.  Or we can grow up and realize that society at its heart means social.  It means taking responsibility for one another.  It means what we do for each other we do for ourselves. It means we care for and protect one another and when someone is down, we offer them a hand up.  Taking care of one another is the stuff life is made of.  The alternate choice is to live like Rick Santelli, cold and alone with his gun pointed at everyone, dragging his loot into the afterlife.  Good luck with that, Buddy.

P.S. Being a stock-broker might be a high risk financially, but it is not hard work.

Rick Santelli is an Idiot

I can’t believe this guy.  I heard him spouting off here about how Americans shouldn’t pay for their neighbor to have one more bathroom.  I wanted to reach into the screen and slap his ugly head.  What an idiot.

Here’s a clue, Mr. Smarty Pants:  People who are in foreclosure are in foreclosure because the system is a mess, not because they are “deadbeats” and want a free ride from the government or their neighbors.  Want to point fingers, idiot?  Point them at the banks that overvalued properties in the first place to get people into questionable loans so brokers could collect bigger fees.  Point those fingers at the lenders for telling consumers that their ARM loan wouldn’t be a problem because they would be able to refinance in three years when the rates change (and hey, rates have been going down forever, so  why shouldn’t this continue? Your payment will be lower!) while simultaneously neglecting to point out there would be no way in hell any traditional lender would refinance property that is mortgaged for more than it is worth.  And oh, be sure to keep it a secret from the borrower that refinancing will not be an option if you lose your job.  How about pointing the fingers at lenders who convinced people to take out that second mortgage or a HELOC to “consolidate their debt” without pointing out that trading unsecured debt for secured debt would make bankruptcy pointless should the need arise?  How about pointing fingers at the pathetic and useless Bush administration who drove us into an economic crisis and higher unemployment than we have seen in decades?  Let’s just blame the victim for losing their job.  They should have known to move to China or India ten years ago so they would be there when there jobs were shipped overseas.

I heard the jerk in an interview claim that buyers should have hired lawyers.  Guess what?  Lawyers aren’t free.  And assuming someone could afford $225 an hour to hire one, a lawyer wouldn’t hire an appraiser to know that the bank overvalued the property.  Plus hiring an attorney when you buy a house is theoretically unnecessary anyway.  Mortgage brokers and lenders have a fiduciary duty of care to their clients.  This means they are held to a higher standard of care in dealing with the public.  They are expected to act EXTRA honest because it is expected that they have greater knowledge about the mortgage industry than consumers.  How does this work, Mr. Santelli?  Are the consumers supposed to suddenly educate themselves so they can catch dishonest bankers and brokers?  Would you hold a patient to the same duty before going to a doctor?  Am I supposed to go get an MBA before I go to a financial expert to ensure they are upholding their fiduciary duty?  Should I get an MD before going to the doctor?

I can’t stand the mentality that we are not obligated to help one another.  Guess what?  We are all in this together.  We can sit in our foreclosed bunkers with our guns aimed at our neighbors and barbed wire wrapped around our hearts to protect us from the enemy, ensuring we keep that property because, hell, it belongs to us, right?  We don’t need to share.  Or we can grow up and realize that society at its heart means social.  It means taking responsibility for one another.  It means what we do for each other we do for ourselves. It means we care for and protect one another and when someone is down, we offer them a hand up.  Taking care of one another is the stuff life is made of.  The alternate choice is to live like Rick Santelli, cold and alone with his gun pointed at everyone, dragging his loot into the afterlife.  Good luck with that, Buddy.

P.S. Being a stock-broker might be a high risk financially, but it is not hard work.

The Opossum Approach

Weird.  Apparently shitty workplaces are a popular topic.  The story has been hit over and over and over.  My readership stats have tripled, and most of them are to that post.  I have this book called the No Asshole Rule.  The guy who wrote it said it started as an article in Harvard Business Review or something, but he got so much feedback that he ended up writing a book.  Apparently, dreadful workplaces and mean people are pretty prevalent in good old America.  In fact a woman added a link to my post from her blog called www.DecontaminateToxicPeople.com.

Anyway, I think it’s sad we are all laboring, literally, in places that are horrible to work with people who treat us badly.  The thing I find amazing is that in most cases, other than the fact that we are forced to spend some amount of hours with them a week, our coworkers are generally not our friends, at least they weren’t before we went to work with them.  They are not the people we choose to hang out with because we met them and have a lot in common or whatever.  Some may become friends or lovers based on forced proximity, but for the most part, people who work together are all essentially strangers who give their time to a place to pay for their time outside a place.  Yet a large number of these people think it is okay to behave horribly to people they really don’t know.  How pathetic this is.  I guess it would be worse to treat someone you know badly, but there is a different kind of moral reprehensibility in treating a stranger in a wretched manner.

No, actually.  It’s all bad.  I sat here and attempted to separate out whether it is worse to be cruel to people you know versus people you don’t know.  Either one leaves me at the same conclusion:  it’s all bad.  I’m not much of a black and white person.  I can see the grey in many things, even in situations where many others can’t see anything but solid black or stark white.  But in this, in humans treating each other like crap, it all seems morally reprehensible.  I just can’t see where it’s justified.  Over and over I come up with situations in my mind where it might be okay, and I can’t justify any of them.  Well, I suppose it is alright to run over a little old lady who crosses the street against the light, but that’s it.  That’s the only time it is okay to be mean.

All kidding aside, this is my question…under what circumstances is it okay to treat another human being badly?  Because they treated you badly?  For revenge?  Revenge meanness is probably one of the most often employed reasons for hurting someone else.  I would argue against it because in treating someone poorly because they treated you poorly you become as they are in responding in kind.  And I just can’t think of any other reasons that aren’t patently objectionable on the surface, such as being mean because someone is black and you’re white, or not liking the look on someone’s face.  There are just no good reasons to be mean to each other.

Yet it happens. Over and over.  Apparently people don’t care if there is a good reason or not.  I suppose in most cases it has more to do with the person being a jerk than the victim.  Actually that’s probably it most of the time.  Inside the person feels worthless so they get some pitiful power out of being mean.  Or the person assumes no one likes them so they act like an ass to prove themselves right.  Or for some other psycho babble blah blah blah reason.  But these are still lousy reasons.  It says a lot about the state of mental health in most workplaces if this type of behavior is so prevalent, that there are a hell of a lot of people who feel bad about themselves and act this way to compensate.

Based on my own experience I wish I could say that the best response is to be kind and compassionate, and on some level I think that is necessary.  But from a practical standpoint, my experience was to stay the hell away from the toxic people and to avoid them at all costs.  I tried the being direct and professional approach.  They would use it to find a way to hurt me.  I tried smiling.  That seemed to make them mad and would result in some form of retaliation.  I tried being friendly and acting like there nothing was wrong, while simultaneously making damn sure my work was covered so they couldn’t sabbotage it.  That made them sneer and laugh behind my back about whatever friendly comments I had made (I caught them at this several times) .  Frankly, there was no way that I saw to behave except to stay as far away from them as possible.  Play dead.  The opossom approach.  That is the only viable method I advocate.  It might seem pathetic, but it worked.