Tag Archives: Housing Plan

Obama Struggles With Public Unease Over Housing Plan

Although more than three-out-of-four Americans believe President Obama’s plan will help the housing crisis, the new administration continues to struggle with public perceptions that the plan rewards bad behavior – a belief underscored by a YouTube phenomenon set off by CNBC editor Rick Santelli, who asked derivatives traders, “Do we really want to subsidize the losers’ mortgages?” Speaking from the floor of the Chicago Board of Trade, Santelli charged the president with crafting a housing bailout that punishes millions of people who bought a house responsibly and have been making timely mortgage payments.… more