Thursday, February 19, 2009

Chicago Traders Revolt Over Obama

The mood of US traders took a rebellious turn today over Obama's $275 billion plan to tackle the housing crisis. The Obamaland shine faded on the floor of the Chicago stock exchange as CNBC's Rick Santelli took the prize for 'rant of the year'.

Italian-Americans sure know how to let rip in the Windy City. The traders were revolting, openly mocking Obama's plan, with CNBC's TV host leading the pack and calling for a new Chicago Tea Party. 

The housing plan came the day after President Obama signed off a $787 billion economic 'stimulus' package, derided by Republicans as nothing short of a wasteful debt-fuelled spending spree for pet Democrat policies. 

It was all too much for Santelli as he used the squawk box trading floor buzz, on whether Obama's plans to save the economy will actually help the markets, to capture the mood.    

Hat Tip: Drudge

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