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Angry? Join Rick Santelli's Chicago Tea Party!

CNBC.com
Thursday, 19 Feb 2009 | 2:09 PM ET

Will the Obama Administration's plan to save the U.S. economy actually help the markets? Strategists, analysts, investors and consumers are at odds over the answer.

Santelli's Tea Party moment
CNBC's Rick Santelli and the traders on the floor of the CME Group express outrage over the notion they may have to pay their neighbor's mortgage, particularly if they bought far more house than they could actually afford, with Jason Roney, Sharmac Capital.

Mega-investor Wilbur Ross Jr. of WL Ross & Co. told CNBC he doesn't believe the government plan "quite gets it done." The billionaire financier said the principals of loans must be reduced for troubled mortgagors to be helped — and nothing positive will happen until 2010.

Meanwhile, CNBC's Rick Santelli (see Bio) sparked a revolution of sorts on the floor of the Chicago Board of Trade. Watch the video to see!

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CNBC's Companies in the News:

UBS

Citigroup

General Motors

Sprint

Bank of America

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Disclaimer

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