Something Stirring?

President Obama's announcement of a plan to deal with failed mortgages produced a predictable reaction along party lines in Congress, while the President's push for the 'stimulus' and the mortgage proposal seem to have hit Wall Street with a resounding THUD! This has an ominous impact on all of us.

What is going to turn this beast around, and what should the president do? First of all, let’s dispense with the antiquated notion that only rich people own stocks, and that the market’s ups and downs are unimportant. Almost everyone has a stake in our financial markets, either through owning stocks and bonds directly or through pension plans. Even the neediest Americans who are fed or clothed by charities are hurt when those organizations’ endowments crater or donations dry up.

What is most striking is what seems a growing popular movement reacting against an aggressive expansion of government with the mortgage proposal on top of the enormous 'stimulus' on top of the financial bailouts with more spending and regulatory initiatives expected.

Michelle Malkin reports on some citizen protests dogging the President and some members of Congress. But what really seems to have caught fire was the outrage expressed by Rick Santelli on CNBC from the floor of the Chicago Mercantile Exchange, calling for a "Chicago Tea Party". His emotional words gained audible support from those on the floor around him and are reported to have generated a tidal wave of emails to pundits and talk show hosts and become a hot topic for blogs.



This could signal a rising tide of anger over over fairness and liberty. Let's pray and work that it be channeled constructively toward corrective action.