And as far as irresponsible behavior goes, I think Santelli used to be a derivatives trader, and derivatives were responsible for helping the market spiral out of control. The amount of bad mortgages wasn't nearly enough to account for the crash by themselves.

I agree about the talking heads…it's easy enough to say buy when things are going up, and sell on the way down. The hard part is figuring out when do switch from buying to selling, or vice versa.

Any more, I have trouble watching any 24 hour news station. I think it tends to actually make peopleless informed.

On another note, I have to open my big fat mouth here on the subject of “irresponsible homeowners over extending themselves.” I think people should be very careful here with the finger wagging. I purchased my first home in 1991 in much the same manner as these “irresponsible buyers,” with 10% down, a variable rate mortgage, and a hefty mortgage–the most the bank would lend me.

The last 18 years have been very good for the real estate market and I was able to upsize homes many times while increasing my equity over the long run. But it could have just as easily gone the other way, with, say a job loss, catastrophic health problem, or tanking economy. Then Rick Santelli would be calling me irresponsible for doing it that way, but right now he just thinks I'm savvy.

“Irresponsible” homebuyers pushing it to the limit are nothing new, it's just that in the past the market and the economy just worked to make them (us) look like brilliant real estate investors when it could have just as easily gone the other way.

This is the first submission …

I don't think we should have to subsidize so many people. It's only natural that some things will have to go under as the economy corrects itself. Unfortunately, some businesses, banks, homeowners are in a position where it doesn't make sense to help them (from a financial point of view, not a moral point of view)

I just don't see how the government can magically absorb all these losses.

And i did buy responsibly. Even though I bought right before the crash, I'm still very happy with my house, and it's potential as a long term investment.

Thanks for the comment!

Why should all of the rest of have to subsidize their greed and stupidity? I bought a house by making a budget and looking at how much they could actually spend on housing. They rolled the 4 bedroom, 3 bathroom, 3 car garage, bonus room, slab granite counter top, stainless appliance dice and lost. Why should I have to take away from the budget for my 1,400 sq foot house to pay for their excesses?

For those who bought responsibility, lived within their means, and lost their job due to the economic downturn that's one thing. They should have some options. For the others….they can kiss my a**. Thank You.

It's ridiculous how much credibility Cramer has. I do believe that he has some good advice at times (like when he told people to sell stocks if they needed the money in the next few years…if that's the case, they shouldn't have bought stocks anyway).

But unfortunately him – and these other snake oil salesmen – are in positions where they can beat their chests when they're right, and then blame the government and the economy when they're wrong.

And it's sad, because I'm sure there are a lot of people that thought they were doing the right thing by following his advice, and they're probably ruined as a result.

I used to work with someone who was extremely intelligent, but he still listened to every word that Cramer said and considered him an expert. I couldn't believe it.

I also LOVED the end of the clip when the guy said he loved being a millionaire and Jon said, “f&*$ you”! That was a classic!