Mises
Institute: What were the
origins of what is now called the Tea Party movement?
Yuri
Maltsev: As we explain in
our book, the modern Tea Party movement began with a fundraiser by Ron Paul
supporters on December 16th, 2007 (the 234th anniversary of the
pre-revolutionary Boston Tea Party) and a backlash against the policies of
President George W. Bush. This Tea Party fundraiser was followed by an even
bigger one, the unprecedented Ron Paul “money bomb” of November 5th.
The rising
trend of anti-government protests saw a huge surge in February, 2009 after the
famous impromptu speech by CNBC commentator Rick Santelli against the federal
government’s bailout of irresponsible borrowers in the country’s ongoing
mortgage crisis. “The government is promoting bad behavior,” he declared,
standing on the trading floor of the Chicago Mercantile Exchange in Chicago.
Turning to the traders working behind him, he said, “This is America! How many
of you people want to pay for your neighbor’s mortgage that has an extra
bathroom and can’t pay their bills?” The video of his rant went viral that same
day and bolstered an already-planned round of protests in at least 40 cities
across the country on February 27, 2009....To Read More....
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