MetLife mortgages

RS:

"How many of you people want to pay your neighbor's mortgage that has an extra bathroom and can't pay their bills? Raise your hand!" Santelli roared in a broadcast from the floor of the Chicago Board of Trade. Why, he later asked, doesn't America reward people who "carry the water instead of drink the water?"

Suddenly, tens of thousands of Republicans who had been conspicuously silent during George Bush's gargantuan spending on behalf of defense contractors and hedge-fund gazillionaires showed up at Tea Party rallies across the nation, declaring themselves fed up with wasteful government spending. From the outset, the events were organized and financed by the conservative wing of the Republican Party, which was quietly working to co-opt the new movement and deploy it to the GOP's advantage. Taking the lead was former House majority leader Dick Armey, who as chair of a group called FreedomWorks helped coordinate Tea Party rallies across the country. A succession of Republican Party insiders and money guys make up the guts of FreedomWorks: Its key members include billionaire turd Steve Forbes and former Republican National Committee senior economist Matt Kibbe.

Prior to the Tea Party phenomenon, FreedomWorks was basically just an AstroTurfing-lobbying outfit whose earlier work included taking money from Verizon to oppose telecommunications regulation. Now the organization's sights were set much higher: In the wake of a monstrous economic crash caused by grotesque abuses in unregulated areas of the financial-services industry, FreedomWorks — which took money from companies like mortgage lender MetLife — had the opportunity to persuade millions of ordinary Americans to take up arms against, among other things, Wall Street reform.