You will search in vain in this article for the word "mortgage".
If the Tea Party had been about any one thing, it was about the moral hazard of bailouts. A sizeable minority of the American people perceived that bailouts made them chumps, dutifully following the rules and accepting their obligations while bankrupt businesses and bankrupt homeowners did neither.
If the Tea Party had been about any one thing, it was about the moral hazard of bailouts. A sizeable minority of the American people perceived that bailouts made them chumps, dutifully following the rules and accepting their obligations while bankrupt businesses and bankrupt homeowners did neither.
By Brian Riedl, long-time research fellow at the Heritage Foundation, the article illustrates better than anything how the interests of establishment conservatism co-opted the Tea Party movement in 2011, just as establishment Republicanism co-opted Trumpism in 2017.
"Let's steal this energy and make it about something else".
Every. Damn. Time.
Horrified by Washington spenders, CNBC’s Rick Santelli stood on the floor of the Chicago Mercantile Exchange on February 19, 2009, and called for a “tea party” to end the bailouts, stimulus payments, and red ink. Grassroots tea-party groups formed — further enraged by the later enactment of an expensive new Obamacare entitlement — and helped Republicans capture the House in 2010 with a stunning 63-seat pickup and also pick up seven Senate seats.
