Tax Day Tea Party: Protesting the Foreclosure Prevention Plan
Following the Tax Day Tea Party on February 17, the anti-stimulus activists are organizing for a nationwide protest on April 15.
The movement got started after a rant by Rick Santelli about how homeowneres are "expected to pay their neighbors' mortgages", though Santelli has distanced himself from the movement that has associated itself with his tirade.
During Rick's rant (see video below), he called for a "Chicago tea Party" where advocates of the free-market system could join in a protest against out of control government spending.
A few days later, grassroots activists and average Joe Americans began organizing what would soon become the Nationwide Chicago Tea Party effort.
The Tea Party HQ already has a list up of organizers in 24 cities, and is trying to recruit more with a how-to list with details on coordinating, obtaining permits, etc.
On a related note, Santelli denied his affiliation with the tea party movement in a blog post on CNBC's web site this week, claiming the outburst was spontaneous.
Santelli had an opportunity to elaborate duing a scheduled appearance on The Daily Show, but he didn't show up.
My own opinion is that foreclosures aren't just bad for the affected homeowners, but for the entire neighborhood check out housing prices on your street and you'll see what I mean. I don't think that the foreclosure prevention plan can feasibly be as fair as it claims, but I'm also not convinced that, big-picture, this issue should be our number-one concern. You aren't underwater today, but, should prices continue to drop, you may well be tomorrow, depending on how recently you purchased your home.
I don't doubt that Rick Santelli and everybody else have the best interests of the country at heart. If the Tea Partiers are aware of the risks of higher foreclosures, and are willing to sacrifice that "public interest" (i.e. watching their own homes lose value as foreclosures in their neighborhood increase) then their commitment can be considered a noble stand for a set of free-market principles. If they haven't considered the risks, they should.
Also, though, I'm 100% in favor of (lawful, non-hate) demonstrations. I'm from Northern California, after all.