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September 29, 2008

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Posted: 09:23 PM ET

It’s amazing that we still have more questions than answers on this financial crisis.

I am loving reading your comments & questions.  Keep ‘em coming!

 

Larry

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ardee   September 29th, 2008 9:25 pm ET

Holy Cow these two guys are making sense.


Kristina   September 29th, 2008 9:25 pm ET

Why should the government have any thing to do with the business sector. Why do we disapprove of bills that allow the government to pay for everyone to have health insurance, but then we want the government to support the banks and institutions that weren't managed correctly. Americans shouldn't need all that credit anyway, they aren't responsible enough to stay out of debt. It used to be you spent what you had and you had gold or some other valued commodity backing it, today it seems like we are playing monopoly.


Jenny   September 29th, 2008 9:25 pm ET

In order to stimulate the credit markets and get people spending, how about paying off consumer's credit card debts?


Louie   September 29th, 2008 9:29 pm ET

Hi everyone
My question is that “I found a foreclosure house for good price to buy. It’s going to be my first time to own a house. Is it the right time to invest my saving in house of value 250,000 and my savings are 40,000?


Randy Gafford   September 29th, 2008 9:29 pm ET

Is there no one in this country smart enough to develop a workable solution? Maybe a hybrid of government and private sector programs to bail us out? I also wonder why we have not heard from any senior management from these companies as to why they are failing.


Brian Dodd   September 29th, 2008 9:29 pm ET

Finally I have heard someone with some common sense. Ben Stein's remark about help the little people at the bottom. Good for you Ben.


Michael   September 29th, 2008 9:30 pm ET

While our sons and daughters are dying in Iraq, displaced families from New Orleans still await government aid, bridges collapse underneath us, our constitution is trampled, and thirteen million children go hungry every day in America, our government proposes to give 700 billion dollars to bankers and executives while our democratic congress is only able to wrest the concession of “no golden parachutes”? If these companies want taxpayer money, let them all go on government pay grade. Is congress listening?


j matchett   September 29th, 2008 9:30 pm ET

WOW! Ben and Paul for Pres. and VP!
They are making sense and agreeing and they're not even from the same party.
I'm disgusted with our leadership in general.
Julie


Ms Clark - Lithonia, GA   September 29th, 2008 9:30 pm ET

I have a plan that will stimulate the consumer confidence. Take the 700 Billion Dollars and forgive the debt of all Americans; set some new guidelines for going forward and watch how consumers will begin spending.


Jordan   September 29th, 2008 9:30 pm ET

The FAIR Economic Recovery Plan
I’m against the $85,000,000,000.00 bailout of AIG.
Instead, I’m in favor of giving $85,000,000,000 to America in
a 'We Deserve It' Dividend.
To make the math simple, let’s assume there are 200,000,000
bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free.
So let’s assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it’ll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent’s medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else
Remember, this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.
If we’re going to re-distribute wealth let’s really do it...instead of
trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by
one of our candidates for President.
If we’re going to do an $85 billion bailout, let’s bail out every adult U S
Citizen 18+!
As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here’s my rationale. We deserve it and AIG doesn’t.
Sure it’s a crazy idea that can “never work.”
But can you imagine the Coast-To-Coast Block Party?!?!
How do you spell Economic Boom???
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.
And remember, The FAIR plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.


Raman   September 29th, 2008 9:31 pm ET

Hi Larry

I am democrat who will vote republican because the republicans prevented the cronies from swindling wealth of future generation.

If the government wants to help people they can do so directly by creating and operating 100 billion lending corporation for companies and distressed individuals. Why bail out middle man companies.

When we bail these companies (not their employees or share holders) we are bailing out the counter parties (greedy rich people or hedge funds) nothing else.

777 pt oh please...the dow is 10000 why not 1500 point drop. Market wants more of people's money. Of course.

Let us get to the bottom of this. The country is still running after 2 weeks. This is a great country and will survive 10 more George and his cronies.


Melissa   September 29th, 2008 9:32 pm ET

Why on earth isn't Washington putting poitics aside and seeking advice from people like Warren Buffet, Bill Gates, Donald Trump and all the other successful business people??????


Mike Greenway   September 29th, 2008 9:33 pm ET

This is a ridiculous situation. It is like hearing the news from Brazil, Zimbabwe or Thailand. Why can't the average American understand the seriousness of the situation. I see most of them are voting that the rejection was correct.
Mike in Dunedin, FL
PS I am English


Debbie-Kay   September 29th, 2008 9:33 pm ET

Florida

What, are they gonna brow beat the congress until this passes? I would think no means no, not well let's have another vote.


Eileen   September 29th, 2008 9:33 pm ET

I don't think I've heard anyone wonder why this need was revealed when it was, shortly before the election. Did something that we haven't been told about happen? If not, wasn't it predictable earlier? Couldn't a request to Congress have been made with more lead time?


Hetesh   September 29th, 2008 9:33 pm ET

september 29 = bush's economic 911 (2 + 9 =11)


Arthur Sommerstein   September 29th, 2008 9:33 pm ET

Americans are in debt because of the oil crisis. Lets blame the oil companies in cahoots with Opec.


Kendra   September 29th, 2008 9:34 pm ET

I have a question. Can banks freeze deposit accounts (temporarily) and consumers will not be able to withdraw funds?


Lee Radford/ Richmond Va.   September 29th, 2008 9:34 pm ET

Larry,Im sick of everybody blaming Fannie and Freddie for the mortgage mess,This is the fault of the back alley loan brokers who did mostly all of these deals,They didnt check peoples backgrounds ,including credit and ability to pay,all they wanted was they"re commissions,and these loans were then dumped into Fannie and Freddies lap...The brokers are the real crooks...Thanks Lee Radford ,Richmond ,Va.


Emily   September 29th, 2008 9:34 pm ET

If a family is fiscally irresponsible, it has to tighten it's belt and live with the results...e don't get bailed out. Wall Street and these banks have been irresponsible, they need to make it better. BUT the way for the government to make it better isn't to just jump into a "bail-out", it needs to be a carefully workout plan, not just throw money at the issue and hope it goes away.


J. Maynard   September 29th, 2008 9:35 pm ET

The vote today was a brief victory for the American people! Good for the Congressional reps. across the country that had the guts to do the right thing. It is unfortunate that it was likely due to us being this close to an election as oppossed to after.

The next step the American taxpayers across this country need to take is to contact their Congressional reps. and demand that they immediately go back to the drawing board and come up with a better plan. This is an opportunity to make them do better by the taxpayers and show some nonpartisian leadership.

A new plan at a minimum should include public hearings and testimony from the top economic minds in the country as well as taxpayer advocates and other critical parties; consideration of "loans" to lenders/Wall Street to get the credit markets going again vs. "taxpayer bailout"; NOT giving that much power to the Secretary of the Treasury or any one individual in Washington; addressing the current foreclosure bleed going on (9,000 a day); and other critical issues that should be part of the plan.

We can't afford to have Congress do nothing. But, by the same token we don't need a plan that screws taxpayers over a 2nd time around after Wall Street/lenders have done it once. Many of these lenders engaged in predatory lending practices and uncontrolled greed along with Wall Street. Some were involved in shoddy lending practices that included forging signatures on loan documents, giving loans without appraisals, loans with inflated appraisals, shredding loan documents along the way, and providing mortgage loans in which there was no financial value to the borrower, etc. Taxpayers should not reward that even if the stock market has fallen sharply. Unfreezing the credit markets is critial so a better plan needs to be addressed NOW.

It is unfortunate that both Obama and McCain supported a plan that was not in the best interest of the taxpayer. THEY both need to put the American people before politics! The taxpayers of this country need to demand that from both of them.

As Americans we need to fight for the greatest nation on this earth and restore our stability and tarnished reputation! This current crisis is a test for Washington as to whether they can come together and put the American people 1st! If not, throw them all out!


Liz McM   September 29th, 2008 9:35 pm ET

I am disgusted by the way you and your guests are shilling for the bailout tonight. You act like this flawed bailout plan was the only possible solution to the current crisis, when it is NOT.

This bailout would have saddled the taxpayers with billions in bad debt THAT THE PRIVATE MARKETS REFUSE TO TOUCH. Don't you think that if those securities had value the private markets would be all over them? And they are NOT – that should tell you something.

This plan also does nothing to address the derivatives problem or the lack of transparency and blatent fraud in the accounting of these firms.
No trust can be restored until the derivatives are put on an exchange and the firms come clean with what is on and off their balance sheets.

Shame on you. Right now you and and your guests are an example of yellow journalism at it's worst.


William C Jarvi   September 29th, 2008 9:35 pm ET

The Financial Markets Bill has failed to pass. I believe the bill fails to address the issue at hand: wallstreet.
Wall street says they need not be regulated. Wall street says let the markets work. I think that implies wall street should then fail, if that is the will of the market.
I will ask my Congressman and Senators to vote against any future bailout.. I believe there has been some inappropriate behavior by wall street to cause this crisis. I believe there has been some criminal behavior by wall street to cause this crisis.
I believe wall street has more to lose than Main Street America.


Michael   September 29th, 2008 9:35 pm ET

Wall Streets wants 10K from every family. So what sacrifice is Wall street offering?


Erica Carvalho   September 29th, 2008 9:35 pm ET

I just found out that my bank does not have FDIC. What should I do???


Charles Hayes   September 29th, 2008 9:35 pm ET

what about the little guy who's loosing their house. nothing was mention my anyone in congress. we need help


simon david   September 29th, 2008 9:36 pm ET

For the first time, McCain finally admits the nation is in a recession. Yet his mentor, Bush, is still in denial. Like a typical drug addict, if you don't acknowledge you have a problem......how can you fix it?


Tim   September 29th, 2008 9:36 pm ET

Is Suzie so hell bent about this 700 billion bailout to go through because she has alot of stocks that are taking a pounding? I was surprised to hear her back this wallstreet bailout like that.

What happened to the countried top economists from the top universities that were saying this bailout is a bad idea? Why havent we heard anything about a different approach.


David   September 29th, 2008 9:36 pm ET

Suze,
is it right time to buy a house?

Los Angeles


JOSE IN FLORIDA   September 29th, 2008 9:36 pm ET

BEN STEIN THANKS FOR SAYING THE TRUTH AND SUZE WHAT WORLD ARE YOU LIVING IN? OBVIOUSLY YOU HAVE ALOT INVESTED IN THE STOCK MARKET AND ARE WORRIED ABOUT YOUR OWN LOSSES. I AM NOT LIVING ON CREDIT, I HAVE BEEN WORKING ALL MY LIFE AND NOW HAVE SEEN THE VALUE IN MY HOUSE DROP THOUSANDS, THAT'S WHAT REAL PEOPLE ARE FACING!


Tom   September 29th, 2008 9:36 pm ET

Is it legal for people like Suzie Orzman, who have no experience or expertise in stock and equity analysis to make statements that the market might go to "8000" if this bill isn't passed? Her comments on the show today are nothing short of sensationalistic and could very well serve to cause FURTHER market declines by scaring people to sell their stocks. A key nail in the coffin of Washington Mutual was withdrawls of over $16 billion in deposits in the last 2 weeks of its existence. Many of those withdrawing their funds were most likely covered by FDIC insurance but who were governed by fear fueled by people like Orzman. Does she have no conscience or is she solely about getting ratings to fill up her bank account?


Michele Barry   September 29th, 2008 9:37 pm ET

I am about 3yrs away from retirement. I haven't moved anything in my 401k since this mess started. I followed what everyone said "sit tight". Now I'm worried that I should move my money into something more safe and cut my losses. Can you advise?


Angela   September 29th, 2008 9:37 pm ET

Ms. Orman,

Can you name three specific things that Pres. Bush has done in the past 8 years that has had a POSITIVE effect on the economical structure of the USA?


DONNA TERRELL   September 29th, 2008 9:37 pm ET

When the average American does not grasp what is going to happen
without passing this Bail Out.Then the people we voted into Washington DC should vote with a little more intelligence!!!

GOD HELP US!!!!!!!


Cheryl   September 29th, 2008 9:37 pm ET

Hi,

Susie indicated credit cards might take away unused money on credict cards, reducing credit limits. What about Home Equity Lines of Credit? Can banks also reneg on unused balances on previously signed HELOCs?

Cheryl


Douglas   September 29th, 2008 9:38 pm ET

Why can't AIG be divided up and sold to the highest bidders ... like Warren Buffet, Bill Gates, etc.


Lisa   September 29th, 2008 9:38 pm ET

Suze, I'm a single mom in a toxic mortgage, have a buyer for house as a short sale....but the home equity loan holder doesn't want to forgive the loan and take a loss....now I'm facing foreclosure. Why can't the government help us homeowners who were sold these toxic mortgages by these scoundrels? IndyMac Bank in Calif. froze the foreclosures, and modified the mortgages to make them affordable and turn them into good loans....now doesn't that sound smart? If I can figure it out, why can't our government?


Thomas Soriano   September 29th, 2008 9:38 pm ET

Ben Stein is absolutely right. The money should go homeowners because this crisis originates from foreclosures. The financial firms should go through the same pain every other investor goes, and if worse comes to worse, they should go to the bankrupcy courts.


Stuart   September 29th, 2008 9:38 pm ET

The Dow drops 777, and I believe the TSX (Toronto exchange here in Canada) dropped over 800 points...It is a global issue...My RSPs took a pounding, and my investments were moderate risk...it is a big storm to weather...for ALL of us...


Emily   September 29th, 2008 9:38 pm ET

what if the government sent everyone in the country (legal and over 18) an equal share of all that bail out money...that would stimulate the economy. I think I heard that it would work out to something like $200 thusand per person. I could do some good economic stimulating with that.


Denise   September 29th, 2008 9:38 pm ET

I agree with Ben and Paul. Congress should go back to the drawing board and make a plan that helps homeowners. Fix the problem from the "bottom-up" rather than the "top-down" just like Paul said! He should be advising Congress.


Mary Johnson   September 29th, 2008 9:39 pm ET

Most of the people have gotten themselves into this mess because they have charged everything on 2, 3, and 4 credit cards and pay the minimum required. They also have taken out home equity loans so when they sell they owe more than the house is worth. It is their own fauld. The home equity loans are used for boats, motorcycles, cars, big screen tv's etc. Why should they get bailed out?


Sergio   September 29th, 2008 9:39 pm ET

I am new to the market. What should I invest in? Should I invest? Obviously it seems the market has hit or will soon hit rock bottom and then eventually come up. So where should my money go?


Chris from Durham, NC   September 29th, 2008 9:39 pm ET

I'm 30 years old and maxing out my Roth 401K, even in this market crisis. Should I continue to contribute at this level or should I consider investing in different vehicles?


Mark   September 29th, 2008 9:39 pm ET

Suzy seems well meaning...but the advice she gives on this matter is fundamentally flawed.

Yes, I realize we lost a trillion today in market value...but that is not always a bad thing when the markets reflect their true values.

The real pain will be when this cycles around again...but the next bailout tab will be three times.


Carlos Gonzalez- Miami,Fl.   September 29th, 2008 9:39 pm ET

After the recent events unfolding in our economy and credit crunch which is a direct result of a housing failure it cant escape us that many of those whose chose against the bailout today do not have the backround or resumes to hold the elected positions they hold. Many elected officials today are there due to popularity and not because of thier credentials to lead this country!!!! Perhaps if those politicians truly understood what was going on and were truly interested in the greater good other than thier political gain this bill, although not perfect, would have passed and we might be closer to a recovery rather than further away!!!
The housing industry and our economy are in turmoil and those with the knowledge and expertise need to lead this nation and not those that lack those qualities or conviction to make tough decisions at tough times!!!
my thoughts


Esther   September 29th, 2008 9:40 pm ET

cuyahoga falls ohio
if there is not bail out will our government fail?


Frank Burlingame, CA   September 29th, 2008 9:40 pm ET

GREED and WAR has caused this financial mess....

Wake Up people the free credit ride is OVER!!!!

I live within my means with very little purchased on time... I do NOT feel I need to bail out the GREEDY SOB's who have run away with millions while screwing the average worker within their respective companies. These greedy CEO Criminals should be put behind Bars along with Bush for his trickle down economic policies.

The Rich have gotten richer the Poor have gotten poorer in the last 8 years and now the President wants the poor to bail out the rich because they over extended themselves??? I wasnt born yesterday!!! but my grandkids were and I do not want to pass a debt onto them that was generated by people who could not financially manage themselves.

I never thought spending trillions to kill my fellow human beings was a good idea. Who can really own the Earth??? Stop the war Machine industry and put the money back into ourselves and getting off of our oil dependency.

STOP our borrowing and Stop the hemmorging of our money to foreign governments...


stephen Berson   September 29th, 2008 9:40 pm ET

Now that it will be virtually impossible to obtain a loan from a bank there is an opportunity for organized crime to offer their services where some people will feel desperate enough to do so.


JAN FERSTER   September 29th, 2008 9:40 pm ET

Thank you for this opportunity!

I wonder how many of those Republicans that voted no (when Mr.Boedner said they were thinking of the little guy), are up for re-election?


rick spencer   September 29th, 2008 9:41 pm ET

take our country back from the rich make it fair for everyone


Mike Malsbary   September 29th, 2008 9:41 pm ET

Three of the twelve who voted "NO" today have all stated conditions for their vote of "YES" in support of the Economic Recovery Act. One-your Republican guest, drug Fanny and Freddy into the mess, another-a Democrat from California needs salary caps for CEOs of failed firms., and yet another stated such cryptic banking lingo, no one could understand him. They are all over the place! An analyst on CNBC discovered the "NO" votes actually came from newly elected politicians whose elections were very close. Is this about saving our country or is it about a little new found power for these junior politicians?


Dan from North Carolina   September 29th, 2008 9:41 pm ET

Isn't the high rate of consumer indebtness, especially the use of credit cards, 1 ) a major factor of the current financial crisis ? and
2 ) how can just borrowing more money solve the problem


Sheila   September 29th, 2008 9:41 pm ET

How do I know how safe my bank is? How can I find out?


Ken   September 29th, 2008 9:41 pm ET

What about their being no FDIC insured options or treasury bill or bond specific funds available in your 401K. The most conservative option we have is 'stable value' which is in something called contract wraps...these are called cash, for those of us looking to early-retire and are following Suse's advice to go that direction. However, the fine print shows these are not insured and in fact appear to be highly invested in mortages...what am I missing here? I understand a high percentage of 401K's use these instruments for their 'cash' investment funds.


David   September 29th, 2008 9:42 pm ET

I am current on my loan but it is a interest only and I pay $3k. My house is $184k upside down. Should I let my home foreclose.

David


Sylvia   September 29th, 2008 9:42 pm ET

I read a report written in part by Kent Dabiel Bentkowski 2005 "Will You Survive the Coming Financial Crash" It is happening just as he wrote...so what part this mess do the "Big Fat Cat Famalies" that run the stock market play ..Please don't tell me,no part.

Why isn't anyone commenting on them and the games they play with all the poor fools that invest in the Stock Market?

So upset for other.

Sylvia


Ash   September 29th, 2008 9:42 pm ET

If I understand correctly, share values are not indicative of real assets of a company. Dividends are. If the shares on the Wall street are offloaded by individuals who want to cut their losses, then it would appear to me that the losses are being absorbed by those who can or who knew the risks of Wall street.

Perhaps the delays of the bailout plan will create for more absorption of losses by those who can afford thus a more stabilizing situation.

The inflated housing loans benefited brokers, institutions selling their mortgages at a higher price elsewhere. Were taxes collected by state or federal governments from windfalls and high profits ?

How about learning from some religions where interest is not allowed. Individuals who can afford to buy shares in one large "interest free" loans organization that just takes over foreclosed homes can hope to get back a profit many maybe dozens of year later ! Shares that are a "pension fund" of some kind that can be tax write off.

The individuals living in the foreclosed homes can pay some kind of retribution via extra "capital gain" tax. It maybe a small amount for the luxury of being able to live less expensively but still a motivation to try to buy back their properties.

Just thought.

Thanks

Ash


korner   September 29th, 2008 9:42 pm ET

Is Suze Orman on drugs or just stupid?

Giving $700 Billion dollars to Wall Street so they can extend more “bad loans” is absolutely NOT the solution to this crisis!

The fix to this crisis is simple. Bring back the jobs that Ford, GM & others outsourced to India and China. Bring back the manufacturing jobs that were shipped to Mexico and elsewhere.

This country does nothing but live on credit that the rest of the world subsidizes. Unfortunately, we contribute nothing of real tangible value to the rest of the world.

$700 billion should be used to bailout Main Street. The government needs to invest the money in the american people (not as a loan) by creating public works, putting people to work, investing in job creation, reducing interest rates etc. The government will make up the money in increased tax revenues when the american workforce is put to work!

If this bailout were to be passed, it would decrease the value of the U.S. Dollar, increase inflation, cause massive layoffs and loss of jobs (increasing defaults) create huge banking monopolies and it’s not going to decrease mortgage defaults, halt foreclosures or stem the tide of bank collapses nor create jobs.

STOP THE SCARE TACTICS …CREATE THE RIGHT BAILOUT PACKAGE..ONE THAT DIRECTLY BENEFITS MAINSTREET


Candace Grube   September 29th, 2008 9:42 pm ET

Nothing is ever what it appears to be on the surface. We are told "The Bill" suggests we will hold corporate salaries of bailed companies @ $500,000 because as explained you have to pay for talent – But will we utilize the Same Greedy, Fraudelent and Probably Criminal Talent that brought our country to this point while lining their collective pockets ??

- We are told that "The Bill" creates a discretionary opportunity for the people (but really the govt.) to take some stake/ownership in the failed companies that are recipients of these funds – But lets say that I am a corp. that has not criminally, fraudently or greedily attempted to Rip off the American People and I am not failing, But the govt. now has an ownership stake in my largest competitor – Who Will Stop the Probable Massive Unfair Advantage my previously failed competitor will receive from the government that now has partial ownership and won't worry about the interest of the Corporations that did not fail "We The People" ??

We are told that there will be transparency in every thing that the group that has flexible and immediate power to move forward as they see fit - Paulsen, Bernake, Head of the SEC and the head of the Housing Authority Correct ??

It has never been a great idea to appoint the "Fat Cats" to protect the mice. (This group looked the other way and are Part of the Problem – These People should also be exiting out the same door that Bush does in Jan. 09)

Who will be the eyes of "We The People" ?? We need people overseeing this process that have only our interest as the priority – What is wrong with this picture ??

This could be an Iceberg of Titanic proportions.


Dan (Colorado)   September 29th, 2008 9:43 pm ET

Are commercial bank accounts also protected by FDIC for 100K just as personal accounts?


Mark   September 29th, 2008 9:44 pm ET

The other part of this is...even Suzy and others are saying do not invest. If so, why is the US buying these properties a good thing?

They are advising to pass a bill they themselves would not do with their own funds.

Kinda' like a cook that will not eat their own food.


Ravi   September 29th, 2008 9:44 pm ET

It is the time that people stay within their means. Would it not be nice that people spend only when they have money for change!!! Let them earn a good credit score by being responsible!! China will be the only impacted economy but they will deflect their goods elsewhere.

If banks have limited money, they will transact with only the best businesses and customers who are credit worthy. All other subprime businesses will and must perish!!! After all banks have to lend money if they want to stay in business!

At best, Govt may offer short term loans to banks and businesses where they can show full documentation on their credit scores!! No more NINJA loans please (BAILOUT!!)


Orlando Martinez   September 29th, 2008 9:44 pm ET

Why not talk about all those people who got those loans that new they could not pay for them but got it anyway? It took alot of people the make this happen. Just a thought!

Orlando


Angela   September 29th, 2008 9:44 pm ET

Finally, Finally, our Govt. may be listening to US. They need to get off their collective political **** and go into that house and vote for some legislation that will help us out instead of worrying about who did WHAT??? WHO CARES??? Forget Politics and DO what people are telling you!!! Create legislation that will put this Country in a place where it can again LEAD other Nations proving that democracy WORKS!!! We aren't the only ones in trouble!! It's time we come up with some type of solution that doesn't buy into the problem!!!


Tim   September 29th, 2008 9:45 pm ET

Why didnt Suzie point out that the bill included bailing out European banks also? She really tried convincing people to better "Hope" to pass the bill, because she knows the house was listening to the people for once and stood up for the tax payers.


Douglas   September 29th, 2008 9:45 pm ET

How much would it boost the confidence of the "market" to suspend or eleminate the capital gains tax and the corperate tax


Bob   September 29th, 2008 9:45 pm ET

Why not have the government lend money to the homeowners having their mortgages reset at the pre reset rate. These people could afford the loans at that rate. 2% would be better than giving the money away. The banks would immediately become solvent. The banks should then have to pay a percentage of future profits back to the government until they have made up the difference between the lended rate and normal profits. Too Simple?


spirek   September 29th, 2008 9:46 pm ET

I am with Jordan on the following points.
Everyone needs to forward this to their respectivie representatives and tell them that they need to get their act together or maybe their services are no longer needed. They are NOT helping us!

The FAIR Economic Recovery Plan
I’m against the $85,000,000,000.00 bailout of AIG.
Instead, I’m in favor of giving $85,000,000,000 to America in
a ‘We Deserve It’ Dividend.
To make the math simple, let’s assume there are 200,000,000
bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free.
So let’s assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it’ll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent’s medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else
Remember, this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.
If we’re going to re-distribute wealth let’s really do it…instead of
trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by
one of our candidates for President.
If we’re going to do an $85 billion bailout, let’s bail out every adult U S
Citizen 18+!
As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here’s my rationale. We deserve it and AIG doesn’t.
Sure it’s a crazy idea that can “never work.”
But can you imagine the Coast-To-Coast Block Party?!?!
How do you spell Economic Boom???
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.
And remember, The FAIR plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.


Nooristani   September 29th, 2008 9:46 pm ET

Does FDIC have enough money to ensure the financial crisis? Is 900 billion enough?


Emily   September 29th, 2008 9:46 pm ET

Our 401K took a huge hit this month. I think it works out to 3 years worth of it wiped out, but some have lost more than that. We'll just tighten our belts a bit and lve more sensibly. Gee...maybe the government should try that!


Tom   September 29th, 2008 9:47 pm ET

is this a good or bad time to buy a new car? what will this do to the price of new cars?


Jenny   September 29th, 2008 9:47 pm ET

All of you have great ideas. I love how the average person can be creative and ask all kinds of questions about our spending choices and priorities. Maybe we aren't just stupid Freddie Freeloaders.

Notice that larry only takes up blog posts that DO NOT mention any of the ideas here that suggest putting money into the PEOPLE's hands. Ahh status quo.


Michelle   September 29th, 2008 9:47 pm ET

I have a solution for the economic crisis in our country. Take at least 1 million dollars for every 5 million dollars that rich people like president Bush, John McCain, other rich politicians, CEOs, pro athletes, etc. have. They made the mess. LET THEM CLEAN IT UP! They want to take the money from poor people like us who are already struggling to pay our bills. We can't even afford to take our families out to eat or to the movies. If they took 20 million dollars from John McCain, he'd still have at least 80 million. ANYBODY who hoards that much money while others are suffering is flat out GREEDY! They live in their mansions and have 13 cars while others live under bridges. I can't understand how any average american could vote for these rich republicans like Bush and McCain. They just keep STEALING from the working class and poor to give to the rich. Cut their salaries, benefits, and healthcare. Let them live like the rest of us!


Rocky   September 29th, 2008 9:47 pm ET

Hi Larry, I have $6000 CC debt and owe my mortage, cars are paid for. 8 months ago i lost my job and have had a hard time looking. my health insurance is $500 a month and my mortgage is $900. and i can not get past the idea of not bailing out wal st. they charge for normal service like it was a premime service. example of unfare fees...they charge for paying with direct payment (convience fee). the airlines flew me around twice as far and twice the time to make it inconvient making me pay a premim for time when it used ot be normal to fly the quickes and fastest. you are charged for a printer cable and the printers price did not go down and then they only give you a 2 ft cord making you by a normal size. on and on. these are just small examples...and knowing that we need something past i still think we deserve better. what happen to honesty and integrity and accountablity...these are the same people that will fire you for a couple of $10.00 shortages. thats it thanks


jeff   September 29th, 2008 9:47 pm ET

I would just like to add one more comment.
Not one Senator, Congressman, or Presidential candidate who stands to loose their cars, homes or anything else no matter what decision they make.
Think about that.


joni from florida   September 29th, 2008 9:48 pm ET

question: who is profiting from this


Don Thompson   September 29th, 2008 9:48 pm ET

This "bail out" is complete nonsense – another Bush smoking gun!! What's with these "experts" like Ben Stein going on that the U.S. was founded on 'capitalism'. It wasn't. The Constitution starts "We the people" not "we the corporations", nor "we the piles of gold". The intent was free enterprise and opportunity for all, not enslavement to the moneyed few.

Now these same twits that foam at the mouth about personal responsibility when someone suggests a disadvantaged citizen should have a shot at an education or medical care, are all lining up to push tax dollars on people who have neither personal responsibility nor any real accountability.

These are the same babies that decide that drug companies don't have to pay when they kill people, that tobacco companies aren't really responsible for thousands of deaths per year – one every 6 seconds – and "we the people" have to either live with or clean up the messes left by big oil and big nuclear.

Get a grip, people. Very little of Reagan's "trickle down" actually trickled down and there is absolutely no reason to shove $700 billion back up to them. Make the upper 10% of these companies' executives lose everything like most of the former homeowners who were talked into bad mortgages – and I mean everything. Lose their houses, their yachts, their Beemers and their pensions. Put the beggars out onto the street and tell them to accept a bit of personal responsibility.

Bankers and their screwball "enterprises" going broke? WSelcome to the world the rest of us live in.


Christopher N   September 29th, 2008 9:48 pm ET

Larry- I know your show is primarily about the economy, but some conservative columnists have been calling for Sarah Palin to step down from the Republican ticket in view of the complexity of the economic situation. What do your panelists think about these conservative columnists who are calling for Palin to step down from the ticket?

Thanks,

Chris


Ronald Milazzo   September 29th, 2008 9:48 pm ET

In spite of the financial news and the drop in the stock market, the rejection was the best for the middle class and poor. A plan that takes care of the working class and poor direct needs to be drafted. If the government would give each household and single people $250K, they could pay off the mortgage, cars, credit cards and other bills. This money will trickle up to the very banks on wall street in the end. Congress would have to pass a restriction bill on foreclosures and allow homeowners to refinance and save their homes. Congress would have to pass a bill freezing foreclosures long enough to let the process have effect. Putting money into these losers on wall street is throwing good money after bad. If congress wants more details, love to give them to them. I wonder how many of Washington folks have stock in these losers and how much the lobbyist are putting out.


Thomson   September 29th, 2008 9:48 pm ET

Why should we trust the same people who should have been overseeing and ensuring that we do not get into such a mess, be entrusted with oversight of such a large bailout? Why isnt an independant set of people that are not linked directly to the political and greedy Wall St. be given the charge of this oversight?


Jose A Cotto   September 29th, 2008 9:49 pm ET

Larry:
I hope media stop saying that it is taxpayers money. Once they deduct money from my check and on or before April 15th you send a check it is the equivalent of putting money in a slot machine hoping nfor a jackpot and the "house" kepps you entertained with sandwiches,potent potables and a show.
It is not my money ,the only reason you do that is because you need us to make noise so you keep an audience.

Jose A cotto
The cynical blind veteran
San Antonio,TX


Mark   September 29th, 2008 9:49 pm ET

If the FDIC only has about 120 billion dollars in reserve funds how do they cover the $1 trillion dollars in "at-risk" money in bank accounts?

In other words. Our money is only insured until the FDIC runs out.


Heinrich   September 29th, 2008 9:50 pm ET

Happy New Year Larry,
and thanks for bringing 2 such great men on – Stern and Krugman. They are two of the many I saw on your channel and on others, who know what they are talking about.

Just like Bush instigated 9/11 so he instigated the economic meltdown. With 9/11 our oil and defense industry made out like bandits, now it is the credit industry (like Mr Stern said) making out like bandits. I am sure Bush gets his cut from all of them.

I am glad that the bailout did not pass and hope as Krugman said, they will scrap the whole thing and start from scratch. They are now (and that is another Bushi trick) trying to work around the 2 1/2 page proposal of Paulsen, but as you know you can not make a silk purse out of a sow's ear (or how did Obama phrase that?)

So let them start anew, we have the time we have a lot of time. Bush pushed us into an unwarranted war in 2003 now he is pushing us in an unwarranted bailout of his rich cronies and the man on the street, well he will be on the street (literally) when he can’t pay his mortgage. What an atrocity.


Christopher N   September 29th, 2008 9:50 pm ET

Larry-
In view of the economic situation, several conservative columnists are calling for Sarah Palin to step down from the Republican ticket. What do your panelists think about the possibility of this?

Thanks

Chris N


Ken   September 29th, 2008 9:50 pm ET

Why not take that money and invest it in real needs bridges, roads, and the alternative energy infrastructure ? Bailing out wallstreet is not the answer to gettting capital flowing – build the infrastructure with it – and you get a 15 fold 10.5 trillion dollar return in economic activity – that is a whole lot of Capital for the market – a whole lot more than 700 billion. The tax revenue it would generate is 1.6 trillion.. I think that says it all – WHY a Bail Out.. why not a real plan..


Andy   September 29th, 2008 9:51 pm ET

Jordan... best idea on the table,,, great work


cathy white   September 29th, 2008 9:51 pm ET

is the stock losses today are on paper only.
the marker lost 22% in one day on 1987, and we did fine.


raji   September 29th, 2008 9:52 pm ET

What ever the out come of this failed bail out is, we will bear the results but will not pay those thieves. Ali is supporting it because he probably have lots of stocks or he is getting paid by the those big companies for putting out words.


Charlie   September 29th, 2008 9:52 pm ET

This question is for Suze: I have a Roth IRA and a money market savings account. I have already lost $2,000 on my IRA. Should I move the remainder of my IRA monies to my MM savings account? I still have about 30 yrs + till retirement.


WALTER   September 29th, 2008 9:52 pm ET

Hey Larry, I want to know why the nake short issue in the stock mark is being played down during this financial crisis. Millions of dollars were allegedly stolen from investors as a result of naked short selling which is illegal.


Cheryl   September 29th, 2008 9:53 pm ET

Thanks for having Suze on...she may be one of the few that knows what's going on and I trust her answers. Please have her on a lot. Also, Larry...did you know that you have the cutest laugh? Don't worry...I'm elderly with one foot in the grave and not flirting with you. Just making an observation.


Tom   September 29th, 2008 9:53 pm ET

If this was a small bussiness they would all get fire, can we fire them all and got new house and senate to truely be a real change in washington? think that this would wake them all up.


Arthur Sommerstein   September 29th, 2008 9:54 pm ET

can we sell Alaska back to the Russians 🙂


Emily   September 29th, 2008 9:54 pm ET

Well, I've spent the day emailing anyone I could in the press nd the government trying to tell them the we need to be fiscally responsible in the country...from every citizen to the president. Wall Street as well. No one wants to hear that you can stimulate the economy by giving all that money to the people, no one wants to eport that we are sick of these bail outs, but the saddest thig is that no one wants to hear that THEY might have to give up something to make this work.


Orlando (Mercedes, TX)   September 29th, 2008 9:54 pm ET

Why cant the money go the homeowners that will lose their homes and have them pay the GOV direct. This way the money that may be used to belly up the CEO's again and then the Taxpayers see nothing again and again. If the GOV gets control of the homes they will be paid just like the last person said at 2% this way the GOV wont lose and we will not lose our Tax Money to CEO's.


karthik   September 29th, 2008 9:54 pm ET

I understand u want to air as many as u can tonite, but please dont "break" every 5 mins. It only annoys people who try to get something outta the show, because everything people settle down and start to talk sense, "we gotta an AD break"


Lonnie Moore   September 29th, 2008 9:55 pm ET

Why is Phil Graham and his involvement in creating this lack of regulation that lead to this meltdown – NOT being mentioned in this fiasco?
If We Do Not learn from our mistakes, we are destined to repeat them...


Robin   September 29th, 2008 9:55 pm ET

$1.2 Trillion Dollars just VANISHED today...and it's all because 12 people were didn't like at what the speaker of the house said is a speech?!

I am livid!


Candace Grube   September 29th, 2008 9:55 pm ET

Hi Larry,

Somebody needs to tell these politicians to get back to the table and put together a bill that protects "We The People" and not create Drama and Chaos and rush to get any deal done.

Tell them to do their jobs !!


Beate Brandl   September 29th, 2008 9:55 pm ET

The above sounds very basic but we are providing One Trillion dollars to bailout major financial institutions and insurers without addressing the underlying cause of the crisis which are the millions of homeowners at-risk of foreclosure. They want to say it is too complicated and throw out terms like CDO, Leverage swaps, and others to justify giving President Bush a blank check. While we have been there, the Congress is getting ready to repeat the disastrous past.

We are now committing hundreds of billions of tax payer dollars to bailout the very institutions who created the crisis. At a minimum lets use some of these funds to get the investors to do what is necessary in making these mortgages affordable. The previous bailouts of Bear Stearns, Fannie Mae, Freddie Mac and AIG have not opened up the credit markets. Despite the huge commitments of taxpayer funds they have accomplished little. In fact, Fannie and Freddie continue to refuse restructuring on affordable terms – having their owners the American people foreclosing on themselves.

Congress must not be allowed to commit the largest amount to taxpayer funds in rewarding these scoundrels or idiots – choose your description. A trillion dollar bailout is unconscionable. We are rewarding the companies whose only motivation was greed. For our tax dollars to meet the intended purposes we will purchase the most problematic loan portfolios from the most irresponsible lenders. We will also pay the highest price since that is required to provide them with the capital needed to survive. This is truly the moral hazard bearing its ugly head.

The solution is right in front of us. Congress and the administration must immediately put a moratorium on foreclosures for homeowners who are owner occupants. Then through regulation, legislation and/or economic incentives have homeowner's mortgages restructured to make them affordable for the remaining term of the loan.

Beate Brandl


Adam   September 29th, 2008 9:55 pm ET

I have to use medical terms here... but the economy is bleeding seriously and when a patient is seriously injured, you perform triage. You stop the bleeding, you do the immediate thing to keep the patient alive. Like a MASH unit, it isn't pretty surgery, but it keeps the patient alive. Once they aren't dying anymore, you then have the time to really go in and fix the problems. We don't have a huge amount of time to sit around playing with the economy and fighting over what is going to fix this... we need to stop the bleeding, and the bailout plan is the tourniquet we need to give congress a chance to figure out a real solution.


Denise Figueroa   September 29th, 2008 9:56 pm ET

What happened the New Democratic Stimulus package? I have been out of work for 8 months and counting with no prospects. Is the stimulus package still sitting on the fence or did it take a dive. It's always greener on the other side of the fence, with this nations economy it become a milky gray. Sent several inquiries – no replies – NEED AN ANSWER. By the way who's going to bail out my family out?


Shawn   September 29th, 2008 9:56 pm ET

Hi Larry. I'm a nurse and my finace is a teacher (both so-called "recession-proof" jobs) and are both employed full time. My question is that when the time comes for us to buy a house, will the money be there for us?


Stacy   September 29th, 2008 9:56 pm ET

How is it fair to ask lower income people to foot the bill at $2000.00 for every man, woman, and child. When $2000.00 to someone who makes over $1,000,000.00 is chump change.


pratima shetty   September 29th, 2008 9:58 pm ET

we lost more then 1 trillion today!!!
why politicians are making big deal about 700 billion now.
it is already too late!
regards.


Gary & Tacy   September 29th, 2008 9:58 pm ET

Larry, My wife and I both work hard 10 hr days usually 6 days a week just to keep our house and food on the table. We aren't lucky enough to have investments or health insurance or even worry about money loss over 100,00.00. We live paycheck to paycheck !!! Your guest said to start at the bottom to help ecomony ! Take the 700 bilion sent a cheque to all home owners of 400,00.00 to pay of thier mortgages, purchase newer fuel saver cars etc. Would that not start the economy again, after all were all going to have pay the 700 billion anyway so why should the FAT CATS get fatter !!!!!


jim   September 29th, 2008 9:58 pm ET

It is obvious that Washington is totally broken with all it's participants having as their only goal to be re-elected. Everything is politics. It's time to vote them all out – btw, it's what the founding fathers had in mind. They did not want career politicians – but it's what we have!


Michael   September 29th, 2008 9:59 pm ET

We need alternatives – not a blank check to Henry Paulson. Please can someone show me some alternatives. What is the rush in getting this completed today? I don't get it??


Luke Perera   September 29th, 2008 9:59 pm ET

Suze and your financial analyst sound like Bush and Cheney with "Weapons of Mass Destruction". This purge may be required for all to behave financially fiscal and responsible, no said it was going to be easy.


Tom   September 29th, 2008 9:59 pm ET

September 29th, 2008 9:47 pm ET
Your comment is awaiting moderation.
is this a good or bad time to buy a new car? what will this do to the price of new cars?


Steve Reynolds   September 29th, 2008 10:01 pm ET

What's with all the bubbles floating around while your guests are speaking???


Pat from Deptford   September 29th, 2008 10:01 pm ET

I'd like to know the big deal about $770 Billion??!! In the early 1990's the Bush clan (dad and sons) took the taxpayers for a cool $1.4 Billion during the Savings & Loan "bailout".


Juli Mahoney   September 29th, 2008 10:02 pm ET

While the politicians in Washington haggle over the bail out plan, Osama Bin Laden is laughing all the way to the bank. There is NOTHING that our enemies in Iraq, Afghanistan, and Iran would love more than to see our economy fail completely. And as long as they can keep us fighting in these senseless wars– spending billions over there instead of supporting our people here– it just might happen. Complete and total failure.

God Help Us!


Holly   September 29th, 2008 10:02 pm ET

People don't want socialized medicine because of the countries that have it who have people suffering for it.

Folks in Canada sometimes die waiting for medical treatment. Some come here for joint replacement surgery because the wait for it in thier won country is to long.

At least that is what my understanding of it is.


Robert Fancher   September 29th, 2008 10:03 pm ET

Using the "Great Government Credit Card" to borrow money to pay for over leveraged companies is dead wrong. People overused credit, and it's not the companies fault, it's the people's fault. So the people who did the crime should do the time.


Connie Steeples   September 29th, 2008 10:03 pm ET

I am just as angry as other citizens, but you have to understand that the bailout or rescue plan, whatever you want to call it, is about restoring the flow of credit throughout our economy. Our economy, and the world economy, is based on credit: the loaning of money between banks, and between banks and businesses, and between banks and individuals. Businesses cannot function without credit- it won't matter if a business is in good standing, if there are no dollars/credit to loan.

Frozen credit is not in the best interests of the taxpayer- you won't be able to buy a car, a house, use a credit card; you will only be able to use cash.

The main causes of this mess are few federal regulations and little or no oversight. We have been through this before in our history: the most recent was the savings and loan debacle in the 1980's (no oversight).

You might notice that most state and nationally chartered banks are fine; they have rules about capital and lending they must follow, and they are audited- unlike the investment banks and other similar kinds of firms.

Yes, we are in debt because of oil prices- and the Iraq War (borrowed money), and the senior drug prescription program (borrowed money), and the war in Afghanistan, and all of the other expanded programs not paid for with current tax dollars. We will all have to sacrifice to clean up this mess: either by tax increases, draconian program cuts, or by passing it on to our children.

The federal debt mess will take a while to fix- but we need to fix the other mess, the credit crisis, now.


Diana   September 29th, 2008 10:03 pm ET

Larry

Pelosi should be fired... it appears that the democratic leaders used this opportunity to create a failure giving them the chance to point fingers AGAIN. All Obama does when he talks is point fingers to explain why we are in this mess.

Why can't he start DOING something proactive? Why do we have to listen to all the BS... the people of America are smarter than they think.
We can see right thru all the games. They need to STOP and get down to business!

Thanks for the blog!


Ganesh   September 29th, 2008 10:03 pm ET

What else could be done?


Sara   September 29th, 2008 10:03 pm ET

Republicans just amaze me.


Ruth Vaughn   September 29th, 2008 10:03 pm ET

Susie is way off track on this one. We need a bill but this one was "toxic". Let them go back to the drawing board and come up with something that will benefit the American people not wall street. It took a long time to get into this mess, and the solution needs to be thought out thoroughly, not made out overnight.
Ruth


Brent   September 29th, 2008 10:04 pm ET

Yeah on voting down the bailout. Free market means free to make lots of money and free to fail. Kudos to the HR for a job well done.


Jessica   September 29th, 2008 10:04 pm ET

Hello Larry! As a 27 year old this is really the first recession I have observed. As an individual with historical context, could you please put the present situation in perspective for those of us that are young and in experienced? I watch the news and read the articles, all I see is mass hysteria over the present situation. Is it really that bad or is this a bump in the road? Thanks for your help!


Jorge L. Diaz   September 29th, 2008 10:04 pm ET

What is now the rol, that those countries that have accumulated billions of dollars with the exorbitant price of oil, can play in this crisis?, can we force them to pay back or help the US economy?


Lisa   September 29th, 2008 10:04 pm ET

Admit it. We ALL got greedy. Many of us has been living beyond our means for years....We all want more than we can afford. We all have to change. Let's join together and get through this. Let's start living like our grandparents did and learn to be thrifty and SAVE money.


FRANK   September 29th, 2008 10:04 pm ET

Everyone's harping about how much money was lost on Wall st today, but it seems to me if 1,200,000,000 has been lost in market values due to sell offs, doesn't that mean someone took profits to that same amount. If I sell my shares and their value drops for the continued shareholders, I did make a profit. I might be naive, since I don't have millions in the market but it seems like common sense to me. Correct me if I am wrong.


Annette Taulbee   September 29th, 2008 10:04 pm ET

Do we believe Chicken Little Bush that the sky is falling?
Perhaps this is now "The Bush who cried wolf!"


Cheryl   September 29th, 2008 10:05 pm ET

While it may have been politically expedient for representatives to point to their constituents' opposition to the bail out plan, the fact is they've had access to experts that we citizens haven't talked to. Isn't this why we try and elect outstanding leaders so they can make intelligent decisions? (Stop laughing.) I've never been more disappointed in my elected officials.


David Gerzseny   September 29th, 2008 10:05 pm ET

How was one trillion dollars LOST today? Stocks were sold,, money was passed to the seller from a buyer,, the seller still has that money to reinvest and the buyers own the stock at a lower price. That is the market place. Money is NOT lost until you are OUT and do not intend to get back IN the game. This was an "asset adjustment" on Wall Street by investors,, not a total loss as Suze would like you to believe. If the investments were used as collateral that is a different story. But,, for the most part the decline in the stock market was only on paper and makes future opportunities for gain more attainable to the smart investor. The stock market is not a frozen environment,, it is always changing based on economic news and this latest downturn is just another blip on the screen that should be noticed by the smart buyers. Markets do not always just go UP!


kerri   September 29th, 2008 10:05 pm ET

I am very disappointed with our federal leadership today–most notably the Republicans and John McCain. The market place lost trillions of dollars today over a bill that would cost this nation billions. It seems that the Republicans let party politics and a disagreement with Pelosi guide their actions on behalf of this country. These politicians have forgotten that they are in office to protect and guide this nation and its people. Poor John McCain...tried to provide leadership to a party that is too busy being renegades to follow the leadership of their President and Presidential candidate. Leadership seems to not mean much as solid leaders are also solid followers. I've never been so embarrased by our leadership as I am today.


Michele Anderson   September 29th, 2008 10:05 pm ET

Yes I believe the house did do the right thing by not passing this monstrosity of a bill. The thing is that the middle class is going to be crushed if it does pass and MIGHT be crushed if it doesn't. The difference is if we are going down, lets take the robber barons with us. The people of this country have been down before and we fought our way out of it. We will rise again!


felicia hawthorne   September 29th, 2008 10:06 pm ET

I live in willingboro nj, I ;m in the process of refinancing my morgage, will this effect my loan?


barbara   September 29th, 2008 10:06 pm ET

I am a retiree with money in the market – but I say let the chips fall where they may – for the first time in many years I feel that someone was listing


Candido Negron   September 29th, 2008 10:06 pm ET

Obama and MC Cain should have met together with their top people in Congress and taken a pre count vote of the support before congress met..That is how is done in main street america..acutally that is how is done everywhere....What a real loss for both MC Cain and Obama...


Josh   September 29th, 2008 10:06 pm ET

I have one question, and sorry if someone has already asked, I apologize, but I’m simply wondering what a dollar is worth back in 1929. The three days the stock market was crumbling in 1929 (that week in late october) they lost $30 billion. Today we lost $1.2 trillion… thats a big difference, but I’m wondering if it really is, because if you convert that $1.2 trillion to 1929 days and it compared to $30 billion in a week, that could actually mean something for the future…

So whats $1.2 trillion worth in 1929?


Kevin in Avondale AZ   September 29th, 2008 10:07 pm ET

A) Bailout – the fault is with the Representatives who should have been making the best of a bad situation with the financial crisis and NOT worrying about their re-election this fall.

B) Reaction to Nancy P speach by not voting for the bailout – children, children, children....

C) VP debate – a debate is a free flow of thought/opinion between 2 or more people and NOT a question/answer session – as mostly did not happen with the 1st debate last week. It is sad when the moderator has to say Sen. Obama speak to Sen McCain directly! We are sick of the stump speaches (same blah blah blah) and yes we are tired of Sen. McCain and his war record – we all know what he did, what happend etc. that does not help him solve the financial crisis.

D) Sen. McCain had to be at the debate per a signed CONTRACT. All this crap about not showing because of the bailout is CRAP too.


Pat from Deptford   September 29th, 2008 10:07 pm ET

I’d like to know the big deal about $770 Billion??!! In the early 1990’s the Bush clan (dad and sons) took the taxpayers for a cool $1.4 TRILLION during the Savings & Loan “bailout”.


tracy from missouri   September 29th, 2008 10:07 pm ET

The comment made earlier about being concerned that one is voting "against their President" was ridiculous! This disaster is, once again, about the average American losing while our government twiddles their thumbs. Republican or Democrat should not appear before a name – vote for what is right and protect Americans not the heavily lined pockets of the rich.


Ball Family from Vicksburg Michigan   September 29th, 2008 10:07 pm ET

The house let us down today. We need statesmen and stateswomen leading our great country and fewer politicians trying to get re-elected. The average American does not even understand the totality of this issue and frankly I do not believe our politicians do either. Disgruntled American from Vicksburg Michigan.


Michael Ritsch   September 29th, 2008 10:07 pm ET

Larry ,

My question for the Republicans.

Senator McCain, if you are so confident that you are the best candidate to lead this country for the next four years, why are you not knee deep in participating and crafting a financial solution for the current crisis that you would be inheriting as our next President ?

Concerned in Northern Virginia

Michael Ritsch


Joyce Taylor   September 29th, 2008 10:08 pm ET

Larry, I am 62 years old and almost ready for retirement. Yes, I am glad the Bill did not get passed. Why should Wall Street get rewarded for doing stupid things? They should have the same consequences as everyone else. I'd like a fat check at the end too for doing nothing.


Texas   September 29th, 2008 10:08 pm ET

Were the 12 Republicans the same 12 that met with John McCain?
When Suze said the money is gone – it does not just disappear – someone pulled out money – who are those people?


Arthur Sommerstein   September 29th, 2008 10:08 pm ET

Misery seeks company. Let's thank the rest of the world for sharing our sorrow.


Jim Pace   September 29th, 2008 10:08 pm ET

The surreal market events of today, once again points to the polarization of our country. Left verse right, red verse blue and the middle being destroyed from the war between them. We lose the middle class we lose our country!


phil gray   September 29th, 2008 10:08 pm ET

Dear Republican Congressman

With all due respect to your office I think it is time you put the interest of the county first and resign. Your Republican Party has brought the country to its financial knees and the only honorable thing you can do for the country is to resign, stop your campaign, and donate the remaining assets of your very large campaign fund to a homeless shelter. Only the mentally ill, developmentally delayed and conservative Republicans would think our current problems are due to anything other than your policies. It is now time you step up and do the best thing for the country resign.


Fred Doolittle   September 29th, 2008 10:08 pm ET

To fix the problem:
This is not my original Idea, but worth putting on the table......

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.

Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it'll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent' s medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out
a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned
instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.


Mitch Koep   September 29th, 2008 10:09 pm ET

Larry ... How about put this solution out to the public and see how they vote here on your website? Thanks


Luke   September 29th, 2008 10:09 pm ET

This whole crisis has been caused by pressures being put on banks to loan people money who shouldn't have been. Basically they were pressured over the years to make more loans to minorities and other people just to fill a quota. ACORN is one of the main problems. Also, look at who has benefited...DEMOCRATS...Fannie Mae and Freddie Mack have been run by DEMOCRATS! I Do Not want a bailout of banks and people who made bad loans. I live within my means; others should also!


Rebecca Young   September 29th, 2008 10:09 pm ET

Today's financial mess can be summed up in a quote

from our dear Paul Newman in which he said, "What we have here is

a failure to communicate."


Lisa   September 29th, 2008 10:09 pm ET

Capitalism = Greed
It breeds it and that's what's wrong.
Uncertainty breeds more chaos. Someone has to do something. It's all run amuck. Can you believe we hired these people to trust to run our federal government? Disgusting.


Kelly Parry   September 29th, 2008 10:09 pm ET

I have always trusted and supported the policies and consumer advice of Mr. Ralph Nader, who sadly, did not stand a chance with his ethical, radical politics. America was not ready for someone so opposed by the corporate greed in this country. Well, perhaps they are ready to listen now. I would be very interested to know what HIS take on all of this is as consumer advocate. Has he been consulted at all by anyone? What a president he would have made....


Sick and Tired   September 29th, 2008 10:09 pm ET

I am sick and tired of hearing the childish behavior of the leaders of our country. Today the house acted like preschoolers. No it is her fault not it is his fault. My small children are acting with more maturity than our leaders. Grow up it is no longer about you!!! We need to start being Americans – not just Democrats and Republicans. I can not believe you have left town with our country in the shape it is in. When we have crisis at my job or at my home I do not run. We can not do that.

Again stop blaming one another and start looking out for our Country. It seems these days our leaders are more worried about their political party than our country. Go back to Washington and finish the job!!!!


Susan McNeil   September 29th, 2008 10:09 pm ET

Dear Larry,

I am very concerned as are other citizens. Why can't the Goverment pay checks directly to the homeowner with the mortgage companies being copayees, so that the homeowner can only pay the mortgages.
This would give the homeowners relief and the money will get to the mortgage companies and banks, so that they can continue paying loan


Richard Davidson   September 29th, 2008 10:10 pm ET

The House Republicans will go down in history as the PARTY THAT FIDDLED WHILE THE AMERICAN (AND WORLD) ECONOMY BURNED


Ken   September 29th, 2008 10:10 pm ET

DONNA TERRELL – I predicted this would happen – I predicted it in 1999 when they Repealed the Glass-Seagall Act of 1933 it prohibited banks form getting involved in the securities business. Glass-Seagal was enacted because it caused the great depression, and with no FDIC or regulation to handle bankrupt or poorly managed banks it really hit hard. So do you build the titanic the same way as before and set sail.. apparently these "congressman" you claim are more intelligent than the rest of us did exactly that. You assume incorrectly that somehow the people in Washington know what they are doing.. if they did this would not have happened AGAIN. Of Course what do I know – except that I said in 1999 it was stupid, and also that this would happen..HISTORY SPEAKS.. How many times have you put your hand in the fire since the first time..before you learned not to do it.
[That is Your History – I assumeby now you are smart enough not to sit in a fire – because your history taught you that.]
For Lonnie Moore – this is just part of the 1999 Repeal of [Glass-Seagal Act 1933] – Bill Clinton signed it, Robert Ruben his Treasury secretary who is now Obamas Economic adviser urged this to be done..
You see the house of cards now..


matt hall   September 29th, 2008 10:11 pm ET

There Needs To Some Accountability For The Bail Out Funds
We Cant Just Hand Over A Full Package Of Some 800 Billion Dollars
This Needs To Be Done In Dividends And Recorded As To How The Money Was Used.


mack   September 29th, 2008 10:11 pm ET

It is very disappointing to me that this bill did not pass. As an tax payer, I dread what this bill means to me and others in the U.S, but not to do something is a bad decision. Everyone has an opinion, by that I mean there will not be a perfect solution to this mess. A compromise is necessary. This bill represented that compromise. We cant have our cake and eat it too, Sorry, its not that simple. We are all in the same boat. I am a Democrat, and I will say that maybe Pelosi's comments were unnecessary, but that not justification for passing this bill.


Lisa   September 29th, 2008 10:11 pm ET

I agree with Arthur....let's sell Alaska back to Russia.


Arthur Sommerstein   September 29th, 2008 10:12 pm ET

Lisa, we'll taake the oil first!


Edna   September 29th, 2008 10:12 pm ET

I know each candidate wants to win the presidency but I wish supporters would say things that make sense instead of what sounds good. Tonight for instance. Obama is not sitting on the side lines. McCain should be involved. It was stated on your show that Obama wanted stipulations to the bailout that was added. Republicans helped create this mess by ignoring facts in this issue months ago when it was first introduced. Remember, McCain said the economy was fine. Now that everyone knows it is a mess, McCain wants to look like the white knight on the white horse. I feel the Republicans should take the lead to help solve this. Right now, that is more important than throwing stones. By the way, McCain never looked at Obama during the debate and at times he looked irrated. The future leader of our nation must be able to adjust to difficult situations and people he may not like without showing it. This was not a good display of handling diversity or difficult situations.


Duane Jordan   September 29th, 2008 10:12 pm ET

Why the hell does joe average have to bail out corporations that have made bad business decisions. Let the strong (JP Morgan, Citibank) take over the stupid (aig, Lehman's, etc..) Their are plenty of assets still on the table. No one will bail out my business because I wasn't operating with sound principles. As for the people that purchased a house above their means, the government can back that paper and extend the amortization period over 50+ years. The government in the first place should not have allowed these loans. These boneheads made their own choices, and I refuse to pay my hard earned money for there decisions. Also the CEO's of these broken companies should be held liable and accountable for what has taken place while they filled their bank accounts(probably in a different country).


Kevin Kelley   September 29th, 2008 10:13 pm ET

Sad to see demagoguery rear its ugly head on an issue with the potential to undermine the entire US economy. Somehow, the message that Main St. and Wall St. intersect in towns and cities all over this country must get out.


Emily   September 29th, 2008 10:14 pm ET

A government FOR the PEOPLE...yeah right. A government BY the PEOPLE...can't see it from hre! I know we all say "if you don't like them, vote for someone else"...but I'm not trusting anyone now.
Our government needs to wake up and practice taking OUR money seriously! Give the PEOPLE the money and let US stimulate the dd economy.


Lisa   September 29th, 2008 10:14 pm ET

I agree with Jordan too. Good night. Sleep well!?


barbara nelson   September 29th, 2008 10:15 pm ET

As a Republican, I am ashamed of the small-minded partisan attitude of our elected 'public servants'. It's obvious that the main street people don't understand the cycle we are entering and in a crisis I counted on my Representative to represent my best interests .... not HIS! No matter who runs against him, I will be voting for the Democrat on the ballot. And the finger-pointing, blame is just taking our eyes off the needs of the American people. The House of Representatives should hang their heads for being so irresponsible.
And then, let's add Nancy Pelosi's name to the list of people who should just 'go away'. It's a very sad day for our Government when the truth can be obscured so handily ... they remind me of a bunch of alcoholics trying to avoid any consequences. Ashamed, sad & ANGRY!


C. E. Cromer   September 29th, 2008 10:15 pm ET

I am proud some of our Representatives had the guts to vote what the people said they wanted since the bill (as I have read it) did not honor the people's desires. I think we need more people who actually care what happens to the people who actually pay taxes and pay their bills every month.
Now I am told they took a vacation!!! If I did that on my job, given the seriousness they want me to believe of this problem, I might as well not come back from my vacation.
By the way, I think Nancy was very offensive given she was trying to get both sides to vote for the bill. I work in the business world and would never thought of insulting the opposing side in the matter she did. If the Republicans voted because she did that they are equally at fault. Both of you GROW UP!!
By the way, I am heavily invested in the market and my 401k is there also...so dropping 777 points impacts me. It also, impacts the company who employees me.


Cheryl in Utah   September 29th, 2008 10:15 pm ET

Hello Larry,

Thank you for your show. I realize that I am just a teeny-tiny voice but I have been following the campaigns faithfully since the National Conventions and I do have a few things to say – on the story of the 700 billion dollar bailout – as a Obama supporter – I was sent an email from his campaign before McCain in his erractic behavior decided that he must run back to Washington to save the day – to support Obama views on the Bailout and to support it which I did – and I am sick to death of the McCain campaign and all of their spins and lies!! I used to like McCain – I have lost all respect for this man who is so desperate to win the White House – knowing that at his age this is his one and only chance – he will say and do anything to win!! His choice of Sarah Palin as VP tells me that his mantra of "Country First" is a joke!! If he truly wanted us to believe that, he would have given us someone who is qualified and who we could trust to take his place if necessary. Where Palin is an interesting, dynamic choice it is obvious that she doesn't even seem to have a grasp of the issues!! I have been watching the news for the past month and could have answered the questions that Katie Couric asked her and I am not running for VP! I believe that the bailout needs to happen because even though I am unhappy that it is necessary I understand that it needs to be done for the sake of us all and so does Senator Obama and I believe that Senator McCain does too – however he is using this crisis – that he knows should benefit his opponent in an election year – by grandstanding – anyone paying attention understands what is really going on! And just so you know what my demographic is I am a White, mother of 4, Mormon, living in a small town in Southern Utah, I am a small business owner. I should be the first person that the McCain/Palin ticket appeals to – but it absolutely does not!!!! I have been taking an independent poll of my customers (I own a motel near a National Park) – since so many are from Europe about who our next president should be and no one has said McCain! Thanks for listening.


Ravi, Reston, VA   September 29th, 2008 10:15 pm ET

This event essentially is teaching us to stay within our means. You should only spend when you have the money!!

Govt. should only consider giving short term loans to troubled banks or businesses only if they are credit worthy! That is only fair. No bailout please!!!


arthur wallace   September 29th, 2008 10:16 pm ET

Just a thought...I have been a small business owner and understand what it means to create a local economy, keep people employed and keep my business alive. When I hear within the diatribe of all this bail out speak I am shocked, insulted and offended to think companies need the credit market to enable them to make payroll.

When I first started my business a person in the community came and shook my hand and said, .." you do it the old fashioned way, you go to work.." In my own business could not imagine having to use CREDIT to make payroll. In my world if my hard work and ideas do not pay the bills then I am out of business.

If we are being asked to bail out companies who pay massive salaries to their executives while using the credit market to fund their payroll..then my vote is to say..." LET THEM POUND SALT"...


Delia Friddle   September 29th, 2008 10:16 pm ET

Oh my God the senate did what the people wanted! Stocks fell but it is what all the fat cats needed. This is not about pointing fingers this is about greed and corruption. The problem is,people need to realize until we get rid of these oil kings that zap us we will all be biting the bullet.
We are tierd of bail outs for the rich while we try to fill our tanks to go to work and pay our bills. Its not the people over extended themselves its the cost of living increasing from oil( the root of evil).
Do you get it senaters ,stop partying and playing, take care of your children( the people)your asleep at the wheel!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Greg Cooper (Houston, Texas)   September 29th, 2008 10:16 pm ET

Larry,
why do we keep saying that the bill must pass? No one has an amount that will bail us out of this mess. Why just throw money at this monster and not know what amount will defeat it? Greed and dishonesty created it and I believe we all will have to take our medicine until we figure out a way to control it. I'm tired of just guessing and experimenting at the taxpayer expense.


Ellie   September 29th, 2008 10:17 pm ET

Hi,

Now is not the time to blame anyone. Now is the time to get together and fix the problem. Once on the road to being fixed then we can look to see who and how this happened and get rid of them. We need people to do their jobs and do it right.
I think it's time we impeach Bush and his cronies for allowing this to happen. Bush insisted there was no economy problems keeping on his idiotic blinders. Had he done his job and was aware of what was going on he and his cronies would have seen this coming. Instead he stands up there like this is news to him. He should be impeached for not doing his job.
Ellie


Elaine Marisch   September 29th, 2008 10:17 pm ET

I am glad the bail out did not pass, Yes we need to do something. Take the bail out money divide it equally between every American household, (Leave out the people in charge that made the mess.) We will all pay our mortgages and buy al lot of goods and get the economy going fast! I am driving a 12 year old car with problems but can't afford a new one. I have adult children living in my house because they can't afford to live any where else. My husband was off of work for three months and we have medical bills the insurance did not pay. We haven't been spending any money. If I had some I would. Sometimes the simplest plan is the best. Put the money with the little people where the economy really functions. I also think we need to get rid of everyone in office both parties and start over. They don't know what they are doing!


David laslo   September 29th, 2008 10:17 pm ET

Good I am glad it did not pass! That means no check for the fat cats today. What I don't understand how they can make such a big mess? Then turn around an run to the taxpayers for them to foot the bill. Well I don't think congress sould be pointing the finger at each other, What they should be doing is looking right at wall street and say well how are you going to fix this mess. Your the one's that make the millions!
Good job congress keep the heat on! Stick to your guns., don't let them run over you!


Greg   September 29th, 2008 10:18 pm ET

Ben and Paul where almost there! After I read Jordan's comments it would appear that Ben and Paul have a quality candidate for the Treasury. This is prefect! I would add that no adult under the age of 55 would be permitted to quite their jobs until they have a trained replacement (to prevent a mass flood vacated jobs). Kudu’s to Jordan: Albert Einstein was once asked to define Genius. His answer: Genius is the ability to simplify the complicated. This is genius


Lisa   September 29th, 2008 10:18 pm ET

Ben Stein is right!


db   September 29th, 2008 10:18 pm ET

republicans should resign their posts. It's well publicized that the last 8 years have some, some, reponsibility in the economy's demise. Forget the partisan remarks, get the job done! Do the right thing for once in eight years. - citizen waiting for the bailout bill to pass. Basically with out financial markets, forget about jobs for all of us.


Barbara St. Louis, Missouri   September 29th, 2008 10:18 pm ET

Larry,
I dont know if I am for or against the Wall St Bail out because the ramifications have not been clearly explained to the average American Citizen. Not one person has explained the consequences of not passing the HR Bill or passing the HR Bill. All we keep hearing is things are bad and are getting worse. We may be in a Recession and heading to a Depression. What does that look like to the average everyday citizen?
Surely there has got to be one person who has the educational expertise and can break down the economic theories behind Wall St. needing a Bail Out. I mean to the level that an elementary aged person could understand. I would be willing to bet that the Congressmen and women dont understand the reason for the markets tanking. Maybe this is why so many are hesitant to vote on the HR Bill.
There is a group of Republicans (12 of them specifically) who are purely ignorant. To stand before the public and pronounce that the Speaker of House's speech made them change their vote was shocking. The American people should be angry at these gentlemen (maybe ladies) who would stoop so low and not have the publics interest at heart.

Explain what is going on on an elementary level.


Anita   September 29th, 2008 10:21 pm ET

NO to the bailout!!!!!!!!!!!!!!!!!!!!
Let the people who got in this mess IRRESPONSIBLY get out of it RESPONSIBLY.
We do not need to pay for their greed.


Kelly Parry   September 29th, 2008 10:21 pm ET

On Sarah Palin; I find it sad that she did not write her fist public speech, but it came from a Bush advsior. Second, In her first public interview her first response to the Gerogia incident was "war'; without any hesitation, and I also find it scary that she has been asked make minimal public comments until debate night , if in fact she is so savy and credible. Third, at the current ime, she is being "prepped and counseled "for HER debate; is she incapable of speaking for herself and addressing issues on her own accord, or out of experience. Is a pretty puppet really capable of the presidency??? If the American people buy into this, Shame, shame on you ....AGAIN!


Arthur Sommerstein   September 29th, 2008 10:21 pm ET

Maybe we can send a Video Professor to congress on "How to Act Responsible"


Margaret Ridenour   September 29th, 2008 10:23 pm ET

I've voted Democrat all my life, but this time even though it was Republican policies that caused the mess, I side with the Republicans of the House on this bailout. Corporations made money hand over fist during this administration - profits from soaring oil costs, balloon mortgage payments, Tony Soprano credit card interest rates, no-bid contracts for work in Iraq,etc., etc. - basically they robbed America and are now working on stuffing the silverware in a pillowcase before Bush leaves office! Due to wages that haven't gone up in years, but prices that have, it became necessary to gradually increase my credit card debt and I always pay on time and a little more than the minimum amount. Those bad guys at Washington Mutual started charging me 31% interest a year and a half ago, just because they could do that legally when regulations under the currency act of 1863 were tossed out the window by the Bush administration - and WaMu still couldn't keep it together, but gave the guy that ran the company for 13 days millions of dollars when he was booted out! This is the mentality of the people in charge of finances in this country, so I second the motion to give "we the people" the $700 billion, not those guys!


Lori   September 29th, 2008 10:23 pm ET

We need decisive leaders in government who are representing America and not their party. Refine the bailout plan. Come together as countrymen and learn from what got us to this crisis. We shouldn't have gotten to this stage.


Fred Doolittle   September 29th, 2008 10:23 pm ET

The reaction of the stock market and banks today feels like BLACKMAIL. The market is based on confidence and attitude. We are losing both......

The CEOs have messed things up in the absence of clear regulation, and intelligent leadership. Now they want the taxpayers to rescue them. Who is going to suffer if we do not bail them out. WE DO!!!!!!!!
What is wrong with this picture.
We do need to correct this situation and make sure it will not happen lkie this again. Damned if you do and Damned if you don't!!!!!!!!


Jason Kinsey   September 29th, 2008 10:24 pm ET

Congratulations Ms. Pelosi for using one of the most serious, palatable platforms in history to utterly destroy not only a bill, but America's faith for an economic resolution, the current political process, its elected officials.
This sad day in American history, and many are to blame. You’re name will now live in infamy as having given one of the most inappropriate speeches in the history of this great country.


Chuck R   September 29th, 2008 10:24 pm ET

Side Note:
Since Politicians volunteer to 'run' for office, I can understand paying them a salary & benefits while they are on the job.

However, once they leave office (presidents, Senators, Representatives, Governors, etc.) there should be only a severance package, no other long term retirement or lifetime benefit package.

The amount of money this country pays out to retired politicians is not only staggering, it’s outrageous and should not be allowed. Once out of office, politicians should get back to work or get onto the same Social Security and Medicare train they want us to be on.

By the way, don't be fooled – although government politicians and workers they say they pay taxes just like the rest of us, they really don't. When they need more money to compensate for salary and benefit expenses due to inflation, they simply raise the tax rate! Wouldn't it be great if we could do that very same thing to companies we all work for!!


peter Hofer   September 29th, 2008 10:26 pm ET

Good Evening;

I feel relieved yet surprised that congress rejected the bail-out proposal.
Only in America would the President and his treasury secretary consider purchasing seemingly worthless debt instruments with taxpayer's money and then fund the very financial institutions, who both acquiessed and or purchased these questionable mortgage packages, without encumbering the valued tangible liquid assets of the same institutions now requiring a bail out.
Perhaps some of these financial institutions requiring the bail-out should be penalized by having their shareholders having to subrogate their shares or voting proxies, until the taxpayer capital has been repaid with a resonable rate return, for such advances.
After all, how can it be equitable to bail out the guilty, without having them pay for their indescretions. As you sow, so shall ye reap.


Hoku, HI.   September 29th, 2008 10:26 pm ET

"Hey! Have you ever tried,
really reaching out for the other guy . . ."

Gee, I wonder how many Americans will now reach for their guns and god, now that the economy of our country will bottom out?


Gary & Tacy   September 29th, 2008 10:29 pm ET

How do we get Jordan's blog read on ac360 or Larry king Live, makes soooo much sense to me !!!!!!!!


PeggyT.   September 29th, 2008 10:30 pm ET

I was reading about John McCain & the Keating Savings & Loan failure back in the late 80's to early 90's which was a huge mess.

I have to say, I find it hard to believe that John McCain is for CHANGE when he's such a big part of the past..

John McCain his 2nd wife Cindy her father were all a part of this mess. John McCain & his wife was having a good time traveling around the on Keating's plane on vacations.

Cindy & her father were invested in a strip mall with Keating.

Keating & the Keating five are a big part of the past Savings & Loan failure. It's on line at Wikipedia the free encyclopeida.

I see alot of the same things that happened back then happening now.

It's time for people to wake up & realize that John McCain is just more of the same.


Nancy Williams   September 29th, 2008 10:31 pm ET

Why doesn't someone explore what was left out of this bailout bill. Speaker Pelosi commented on no oversight, no help for homeowners assistance but there were still golden parachutes.
There has to be at least a few reasons why this failed besides our anger.
Also why doesn't anyone talking about Seniors? Everyone worries about 401K plans.Mine is long gone thanks to the failed real estate market. I finally had to declare bankruptcy after carrying business debt for 4 years plus my own when our real estate franchise just could not make it in this market. I was born during the Depression and always paid my bills but when a business creditor grabbed my only income – my Social Security check, that was it. I don't have any money or any savings left. My daughter lost her home -she WAS a successful realtor. What is going to be done to help turn that around since so many experts say the trouble started there?


mark cotton   September 29th, 2008 10:33 pm ET

Hey why have the banks not lowered the interest rates on home loans that already exist?? Lower it to about 4% This will help prevent future foreclosures and it will lower the payments on the existing loans. monthly payments would cheaper in return this would put money back into the economy.


Robert anderson   September 29th, 2008 10:44 pm ET

I can’t believe that someone has the right idea and no one even noticed. Of course I am talking about the person with Fair economic recovery plan. I can see nothing that cannot make this work. I challenge you Larry to get an economist to look at this possibility and get the facts to see if this could do the fixing that needs to be done. We have millions that are going hungry and homeless and to think what that could do for them perhaps get their life back on track. How about all the people that were devastated in by the Hurricanes this year. I am certain that it would be put right back into the system and help millions in the process.


CAROLANN   September 29th, 2008 10:52 pm ET

777=completed,completed, completed; 7=GOD'S NUMBER


Matt   September 29th, 2008 10:53 pm ET

Lisa, you agree with Jordan?!? WTF. You agree with guy that thinks 85 billion divided by 200 million is $425,000.00. Try $425.00. It's people like you and Jordan that can't do simple math that are responsible for this bill not passing. You don't understand the damage it will do to all Americans that have nothing to do with failing banks. We lost 1.2 trillion in market value today... and likely more over the next three days while our noble congressman enjoy their vacations.


carol   September 29th, 2008 11:01 pm ET

I throughly agree with Michelle and also with Jeff ...they are so right!! This bill did not address the idea at all that these greedy people should have to give part of their bounty back to the people.


Deborah Wadley   September 29th, 2008 11:03 pm ET

LET’S THINK OUT OF THE BOX…. ~$85 billion in cost – do the math.

If the Federal Government has $150 – $700 billion to donate, let them “give back” to the people who have been impacted and financially destroyed by corporate corruption and greed.

Here’s my plan:

Each US citizen (1040 taxpayer) 25 and over will receive $250,000 single - $500,000 married filing joint. With this THE PEOPLE CAN CHOOSE HOW TO STIMULATE OUR ECONOMY ONCE AGAIN.

1.Pay off mortgage: Turning around the housing market; eliminating foreclosures; placing people back in their homes. The banks will benefit because they will receive the funds loaned to borrowers; local governments will benefit because individuals will be able to contribute to property taxes – stimulating the “local” economy.
2.Pay off debt: Credit cards, car loans, etc. Eliminating bankruptcy proceedings.
3.Bridge unemployment: For those who are losing their jobs due to greedy companies who thought of themselves vs. the whole.
4.Buy healthcare policies: Maybe some in this country may now be able to afford healthcare for themselves and their children – maybe even the grandparents.
5.Contribute to their childs “private” education: College…
6.Contribute to a 401(k) or IRA: Placing money back into the “banking” industry and saving for "our" future….
7.Small business: Can continue to contribute to their local economies; fund their payrolls – avoiding layoffs

We are tired of funding CEO's multi-million dollar severance packages - like Washington Mutual's CEO who "walked" away with millions after just a few days on the job!!

IF WE ARE GOING TO SPEND $150 BILLION OR $700 BILLION – GIVE IT BACK TO THE PEOPLE TO MAKE THE CHOICE. NOT THE CEO’S AND COMPANYS WHO COULDN’T MANAGE THE MILLIONS/BILLIONS THEY ALREADY HAD.


Denise Figueroa   September 29th, 2008 11:07 pm ET

ONCE AGAIN NEED ANSWERS –
What happened the New Democratic Stimulus package? I have been out of work for 8 months and counting with no prospects. Is the stimulus package still sitting on the fence or did it take a dive. It’s always greener on the other side of the fence, with this nations economy it become a milky gray. Sent several inquiries – no replies – NEED AN ANSWER. By the way who’s going to bail out my family out?


Chuck   September 29th, 2008 11:09 pm ET

Whatever. You've just lost a long-time viewer, not that you care. I had been so fed up with the media trying to insulate the people from reality, and I truly thought that CNN was different, especially Larry King. But I have just been proven wrong tonight. Good riddance to you as well as all the fools who have only begun to see the demise of their fortunes...


Denise Figueroa   September 29th, 2008 11:10 pm ET

2 hours and still moderating.


dori   September 29th, 2008 11:18 pm ET

i'm sick of being blackmailed.

the media says - "look, you have lost 1.2 trillion dollars today, so unless you want it to get worse you have to vote for this bill."

and what does congress do - THEY LEAVE TOWN!!!!!!!!!!!!!!


Bill   September 29th, 2008 11:20 pm ET

I don't know what is more upsetting, watching the stock market fall 700 points or listening to Democrats and Republicans blaming each other. Democrats have had control of Congress for some time with no real changes or improvements but alot fo the same lip service we got from Republicans. They blame Republicans for not voting to approve the bailout when it would have passed if all the Democrats had voted for approval. I can't miss one car payment before the bank gives me a call. How does our government fall asleep at the wheel and miss the fact that major banking companies are on the verge of bankrupcy that will require a government bailout? Does this come as a surprise to anyone since banks have been handing out credit cards like candy to people including teenagers who are in debt up to their eyeballs plus providing loans to people for houses that are way beyond their means. And who wins on this bailout, the banks not the citizens in debt or taxpayers. We all have to start to work together for the common good of our country. If not, our contry is doomed to a serious depression and possibly worse, it's collapse. I do have one question for our presidental candidates, what is more important: Spending billions of dollars and sacrificing thousands of American lives in Iraq or saving our own country from collapse? Wake up Congress and President Bush.


JACQUELINE   September 29th, 2008 11:26 pm ET

Larry,

We the people should recall all the house members. Its obvious
they are incompentant. They do not care about country first. How
sad.
P.S. I LOVE YOUR SHOW. HAPPY RASH HASHANAH


Taylor Colonna   September 29th, 2008 11:53 pm ET

My question is very serious! Are we being fooled here about Sarah Palin. I mean come on, this woman has a media background. She herself did local news. Does't that give her some advantage to at least fake her way through an interview?

These are really serious times, we are faceing really serious issuses and she can't fake her way through a few kit glove questions lobbed at her by Katie Couric? This country is in crisis: economicly, demesticly, globally, enviromentally – all wich can be directly linked to the last 8 year of leadership crisis.
Is this really what this country needs right now. Another babeling idiot who does not even know the basics of what's going on in the world she want to have the second highest position in. Are you kidding me?

On a human note... I'm sorry to refer to her as a babeling idiot, but Larry, I work in a laundromat and could have nailed that interview.

As an american, I'm appalled and offended that we are even being asked to consider to take this riddle seriously. There's just too much at stake, and that's no joke!
Thank you for allowing me to speak my voice. Just one more thing,
CHANGE:
IT'S MORE THAN JUST A CAMPAIGN SLOGAN!


Paul   September 30th, 2008 12:10 am ET

Suzie Orman makes a compelling arguement however I am not totally sure she is correct. We are in this problem because people and businesses are not able to pay back on their credit. So, we are supposed to believe that if we just issue out $700 billion more in credit that this will fix the problem. The people that are paying their bills and living within their means are not the problem. So we are basically bailing out those that mismanage their money and credit....and fuse a whole ton of new money "credit" into the system, so those that defaulted can once again apply for more creidt? It just doesn't make any sense. If I am totally off base with my thinking, help get me centered again....


CARRIE   September 30th, 2008 12:11 am ET

DEAR LARRY,
CAN YOU ASK SUZIE ORMOND ABOUT ROTH IRS.
WHAT HAPPENS TO THEM?
THANK YOU CARRIE


Tarra   September 30th, 2008 12:12 am ET

The House of Reps rejected the Bail Out and for some reason, I am really starting to feel scared about this whole ordeal. After watching Larry King live tonight and hearing the aftermath talk, I am now worried, that I may not be able to buy my first home in the spring of 2009.

Are we in a Recession or a Depression?

From Chicago.


Jim   September 30th, 2008 12:12 am ET

I have been watching all of this real close and to me it seems like all of these so called representatives are more worried about their own so called job, which is speaking for the people, rather than helping out the people. Even if it was not good for their so called election status, they should do what is right for the country. I also think that the government should explain more of what is exactly going on instead of jsut saying oh well, figure it out on your own.


mand0me   September 30th, 2008 12:13 am ET

I can not believe this $700 billion bailout was not passed. Do these politicians understand what is happening and what is going to happen. There worrying about getting re elected in November, and taking a chance of us going into a depression. They are so selfish worrying about their future when the american people future is hanging by a thread. Shame on them


Pattie   September 30th, 2008 12:14 am ET

Yes we need to pass the finanial bailout but CEO's need to realize that there is a stopping point. We need to stop using just credit cards like Susam Orman stated how we live on credit. I believe these large companies need to pay me back for my hard earned money. Nobody wants to say depression but in reality if the bailout isn't passed we will be in a depression.


Barbara   September 30th, 2008 12:14 am ET

I realize that I am watching a rerun of tonight's show at 11pm central time, but I just had to comment. I am mad as h......, My husband and I are retired and with careful planning, we live quite well, because we saved and did not live above our means. We use credit cards and pay them off each month, our mortgage was paid and we did all the responsible things. I am so tired ot being penalized for doing the right thing. This credit crisis is not a new thing and people buying homes way over their income level is not a new thing. Why do we bail them out on Main Street and why do we pay the executives who don't even need the money and give them so much more while so many Americans are suffering. We pay way too much tax already and now we are going to have to pay more because of the irresponsibity of some of our citizens and also many CEOs, etc in the financial markets. What is going to be done for us?


Victor Banuelos   September 30th, 2008 12:15 am ET

I strongly opose a bailout with tax payers money. I think all should be done with private financing and let the market fix itself. Let those who are responsible be held accountable. I will be watching how my representatives vote on this matter. People need to learn not to spend any money they have not earned. Right now it will be hard to trust any politicians.


Bill   September 30th, 2008 12:15 am ET

Small Business and Individuals Borrowers
Burrower form community banks
Car loans business loans and home loans are still available
Accounts are insured up to $100k

Large Corporate Borrowers
Many of these borrowers have been making profit hand over fist
Automobile Industry
These companies should have gotten into energy efficient cars after the 1981 energy shortest…they just kept making the gas goslings cars

Foreign Investors
Why should the “main street tax payer help these people?

Stock investors in large S&P companies
The reward has been very high for stock holders… They took their chance. Why should they get a guarantee?

Top management allowed faulty lending be done and without watching their employees.

How many people are going to get rich from the “Federal Bailout”….stock brokers, security companies, rich investors that have holding ability when buying real estate.

If a person does not have to sell their home ride out the storm and the market will recover.

We went through this in the 1980’s

All the big voices on TV are just trying to scare the “main street person.


Hanson   September 30th, 2008 12:16 am ET

Larry,
If the 7


Kidd Doz   September 30th, 2008 12:16 am ET

I hope everyone is really listening to what is going on here.


Tarang   September 30th, 2008 12:17 am ET

Larry,

it was the same sort of head rush into "action" that got us into Iraq – the boggy man was played out then as it is now. This time related to financial crisis. No one knows how deep the hole is, and before you know it we will be in deeper and won't be able to bail out the $700 billion being asked of. Any time Government has thrown large amounts of money at any project as an initial estimate they have ad to throw 2 or 3 times as much afterwords.

The more I look at this the more I see this being a Dollar devaluation, whether we call it that now or in 2 years time. Sure this only happens in 3rd world countries – right, well wrong.

I would like to see Prof Roubini come on your show, as he has predicted this and as he says there isn't anything anyone can do to save the spiral we have going on.


Pattie   September 30th, 2008 12:17 am ET

Whyd doesn't the government talk about us going into a depression instead it is always recession. Instead, Bush tells us it is going to be really really bad well he led us down this road. He took us to prugoratory because he knew best. I don't think so.


James Snyder   September 30th, 2008 12:18 am ET

I work in the mortgage industry and all mortgage companies are making a concerted effort to help homeowners behind or in foreclosure to go to a lower interest rate. At my office we have helped many get their rates decreased through their current companies. My office works with all of the major mortgage holders. Not once have we had a customer in distress not be able to restructure thier loan.

I would like how the government is going to make this easier? The private sector has much more interest in not obtaining these properties than the government.


Llewellyn Downer   September 30th, 2008 12:18 am ET

How is this Finacial fallout in the u.s. going to affect third world counrties ,like in the carribbean regions (jamaica0


Gene Langelier   September 30th, 2008 12:19 am ET

The market fell by a bigger percentage back in the 80's, and also in the early 70's but no one talked about a bailout then....So why now??


Sandi   September 30th, 2008 12:20 am ET

I can't believe you would have Charlie Rengel on your show. We should listen to a tax dodger that should be going to jail? Come on CNN you can do better than that!!!


Dave   September 30th, 2008 12:20 am ET

Rush played several clips of Charlie Rangle dissing the Regulator of Fannie and Freddie because the regulator wanted action taken to rein them in. Now he does not want to talk about history?


Hanson   September 30th, 2008 12:20 am ET

Larry,

I think if the $700 Billion dollars is given back to the taxpayers, it will tremendously help alleviate the harsdships of the middle class and will in no doubt stimulate the economy and have money flowing in our whole system. If the US have a total of 700 Million taxpayeres, that would mean that each taxpayer can receive $10,000 dollars from the $700 Billion. Please comment on this on your show.

Hanson
Texas


alan   September 30th, 2008 12:20 am ET

suzie,
What about suspend trading until congress
passes a rescue plan. Will this be possible?


Frank   September 30th, 2008 12:21 am ET

What I want to know is why does every deal from the whitehouse involve helping big business instead of us regular Joes?

I think if the gov really wants to help us they need to offer really low interest home loans (3% or less) for refinance or new mortgages. That would free up cash for the masses and stimulate spending. It would also put something solid in the hands of the gov (our homes) and provide actual cash flow into the gov via our mortgage payments. If these banks are going under because of the loans the gov should just assume the property for resale to the same home owner.

It's not a perfect plan but it beats making the rich richer by using the American people as a scapegoat! Let these companies devalue to what their actual worth is based on their greedy decision making. They, and their CEOs, should not be rewarded.


Kent   September 30th, 2008 12:21 am ET

What does it take for Americans to finally see that TIME'S UP for Republicans. It should have been more than obvious FOUR YEARS AGO! Enough already. STOP ALL positive comments about McCain and Palin. Stop it. For the love of your country, Obama is your only hope.


William   September 30th, 2008 12:21 am ET

Hooray for the American Heroes who voted NO!
It was the biggest NO Brainer in the history of mankind!
For 5 years the criminals who lowered interest rates artificially, and robbed our savings accounts and the criminal speculators, Enron types, slimy mortgage lenders, & government accomplices who raped the entire US economy and turned it into a giant Pyramid scheme (Paulson Pelosi Bernanke Bush Greenspan et al) now have the nerve to point a 700 billion dollar Gun at our heads and demand that we bend over and empty out the rest of our wallets and piggy banks or else – OR ELSE – Our Entire WORLD ECONOMY will COLLAPSE and it will all be OUR FAULT????? And the SS Media who were silent fools while the criminals rode the top of the US economy Real Estate Pyramid are teary eyed and angry that we didn’t continue to believe them (David G, Anderson C, Suze O, et al et al). They are all telling us the beatings & losses will continue until morale improves and we empty our wallets, 777 is nothing Suze O, bring on -7000, & Burn Baby Burn!


Pattie   September 30th, 2008 12:21 am ET

I agree with Arthur send them a Video Professor on how to do a bailout for dummies. What do you think of that Larry?


Bill Wadd   September 30th, 2008 12:22 am ET

Hello
We did not lose 1 trillion dollars today. The market is fake. These companies are not worth what they are valued at. Let the markets correct themselves. The government should not get involed.

Bill


Anna Marshall   September 30th, 2008 12:22 am ET

I think the House did the right thing in rejecting the bill. I agree with it because the average American gets a credit card knowing if they can't pay the payments, then they have consequences to pay. The same goes with this. If they can't pay what they owe, then it shouldn't be up to us (the taxpayers) to bail them out, especially when we have done it for decades as it is.


Tricia Webster   September 30th, 2008 12:24 am ET

I am a middle class taxpayer and want to know what the worse of the two evils are...paying higher taxes with the potential of getting it back or potentially lose my life's retirement, freeze my credit and struggle to send my child to college...wake up Republicans and get over the comment, you are hurting us!


Randy Whitehurst   September 30th, 2008 12:24 am ET

The markets lost a trillion dollars today.
How was our 700,000,000,000.00 going to help?
To me, they've just proven that we'd have been about 300,000,000,000 short.


Ed   September 30th, 2008 12:24 am ET

It time for the Demos to dig in their heels and stand up to Bush and the Repubs. They had their chance today and blew it! Now, it time to bring on the programs! They can start with home mortgages and go from there. The Repubs can buy into it or have a depression. Their President, their choice...bring it on as "W" says.


steven chaisson   September 30th, 2008 12:25 am ET

Suzie, that's not true, $1 trillion dollar didn't disappear today, it never existed, market value on wall street are based on future cashflow, its a guess, its speculation, wake up America,

I like the plan of forgiving debt, that is what we will have to do in the long run, but personal debt is $11 trillion, Gov debt is $10 trillion, and Corp debt is $20 trillion we are broke, and the Chinese own a lot of these market back securities and they want their money back.


Lillian (Michigan)   September 30th, 2008 12:25 am ET

Hi Larry;
My comment is this. The people spoke and many of our reps listened. I am glad this did not pass because it was a mess. It did not protect anyone. Tell the Democrats to be quiet and tell them to listen and quit pushing the blame. There are ways out of this without using the taxpayers money. Oh and by the way, I bought a house this year, and it is affordable eventhough many tried to get me to pay a lot more and finance a lot more. I also pay my charge off monthly with no interest paid. I make 20,000 a year because I am a 45 year old widow.
The Republicans have some wonderful idea on market to market exchange and having Wall Street buy insurance premiums but because this is an election year, Pelosi can't shut up and swallow her pride and listen................. They are all at fault for this mess as is the people that took out second mortgages. Everyone is credit rich in this country and it is time to get back to reality. Thank you for listening Lillian


Neil   September 30th, 2008 12:25 am ET

Did the war have to do anything with this economic situation? Why did people have not enough money to pay their bills? When did this situation started? When did employment started going down? When did the prices in gas and other things started going up? Is it not the main reason people started having troubles when the unemployment went up as the cost of leaving? Is it not that the cause of this the fact that the America financial situation was hurt by the war?


WARREN W WAGNER   September 30th, 2008 12:25 am ET

Wall Street has never gave a damn about Main Street. Let them die. Main street will servive. We can make it without a Stock Market if we had to. If they stop National Health Care. We should take them down with us. The super rich have gone to far. We should not let them get away with this, at any cost.


Fran - Mililani, HI   September 30th, 2008 12:25 am ET

Love to hear from Suze – she is like talking to your girlfriend about whatever.

Here's the problem – partisan politics isn't going to go away. Not this year. We have 434 members of the House and about a third of the Senate up for reelection this year. These people are too busy posturing to pay serious attention to what's going on. They will say and do whatever they think will get them reelected. They don't understand that sometimes they need to do what is best for the country – even if it means disagreement from their constituants. Ultimately – that's what we hired them to do. SO WHY DON"T THEY DO IT!! Maybe Suze should go down and slap some of them around a bit – get their attention.

I'm about five years out from retirement – or so I thought. Not any more, I guess. Please offer my profound thanks to each and every member of Congress for screwing this up! They let a golden opportunity go because they can't see beyond the ends of their disjointed noses.

I think every one of them should be voted out of office – JUST ONCE I'd love to see that happen.


Jalica Miller   September 30th, 2008 12:25 am ET

Mr. King! I think your show is tops...and Suzanne Orman is a God send for her unscruplous teaching with concerns...As a veteran, I am concerned about our National stance within the country and how we are going to support our war efforts abroad and at home....How will this scenerial play out for those of us who wait for our checks from federal..will they be affected...Is this the time when the rich will help familes to stay a float..Meaning, how many of the rich upper class will adopt families that need support...this would be a great tax benefit to the rich who more than enough earned their way to the top and sit on millions of dollars to live lavishly...How many would help us! This is where helping thy brother comes into play....


Sandra   September 30th, 2008 12:26 am ET

I am just wondering why no one wants to talk about 2005 when Mcain spoke up on the wrong doing of wall street, and why is it the everytime the Democrat wants to win it's welfare time, as if all you have to do is sell the middle class (poor) free Government handouts and you will win. We need to learn how to make to the top just like every other hard working American. The bail out was not right, but we should support it and thank God that some of the old money is gone. I belive that John Mcain is a very honest person you can feel his soul when he speaks. We need to stop thinking about making history and vote for who right for America. Look at this mans record you cannot compare him to Bush. This man his given his life for his counrty both in duty and in action. he is not a fly by night. We should have listen to hin in 2005 and not condem him now because of our own greed and wants. He didn't sell us the big house that we could not efford. Lets stop support the bill and go from there. Give Sen John Mcain the respect he deserve he has earned it.

Sandra
Princess Anne MD


Terry   September 30th, 2008 12:26 am ET

Hey rich people-everyone has been talking about us working folks(truck driver) living week to week because we don't handle our finances properly.How does it feel now? Join the crowd!-thanks-Kingman,AZ


Ryan Chipps   September 30th, 2008 12:27 am ET

I wounder when the bailout plan changed to the Rescue plan sounds like a creative spin to me.

I am also trying to make since of the number of $3000 that this would cost for every American
Last poll I saw said that there was below 350,000,000 people in the US

700,000,000,000 / 350,000,000 = $20,000 right?

I think that the people at the bottom of this greed chain would have a better life seeing credit die down for a bit and keeping the Value of our dollar as strong as we can. Printing Fake Money is going to lower the value of everyone's dollar I don't like that.


Ed   September 30th, 2008 12:28 am ET

It time for the Democrats to dig in their heels and stand up to Bush and the Republicans. They had their chance today and blew it! Now, it's time to bring on the programs to help real people! They can start with home mortgages and go from there. The Republicans can buy into it or have a depression. Their President, their choice…bring it on as “W” says.


Fred Hoppel   September 30th, 2008 12:28 am ET

I am a retired Special Agent with the U.S. Treasury Department and I am also a real estate agent with Coldwell Banker in Springboro, Ohio. The problems with the housing market and and the mortgage industry are as follows:

The shipping of job overseas is the root cause for the high number of forclosures.The unemployment rate is at an all time high.

The mortgage industry has been making unsecure loans, no document loans, and loans which were actually fraudulent but did not care as these loans were sold to Fannie Mae or Freddie Mac.

The mortgage indutry also were using drive-by appraisers who did not even get out of their cars to view the interior of houses being refinanced or sold.

The bailout plan by the administration was not a solution but merely a bandaid approach to a much bigger problem.


Michael Jacups   September 30th, 2008 12:29 am ET

No one goes into the stock market with out knowing the risk.Why ask us to take that risk away.Give the money to the people and let the money trickle up.The regular people need the money mre than the wealthy.We have hurt the longest.


Lillian (Michigan)   September 30th, 2008 12:31 am ET

Jordan;
Great idea, and I bet we would not care about regulations on how to spend the money either, lol. Lillian (Michigan)


Frankie Obrien   September 30th, 2008 12:32 am ET

If fooball payers play ball on Christmas, then politicians should continue working through the Jewish holidays...a new bill will be written that favors the everyday man more so...the players who wanted it most are probably just protecting their own pockets and those of their friends...and trying to scare everyone into quickly signing it...I'm sure a better deal is coming...one that 'the boys' won't secretly control


Patricia   September 30th, 2008 12:32 am ET

Everyone who has credit isn't using it to live outside of their means. Students have to take on loans to pay for college educations.


Tony   September 30th, 2008 12:32 am ET

Larry, Please run those two wall street talking heads off your show!! I'm damn glad this bill didn't pass!! It's time Wall Street feel the same pain of trickle down that the average working American has felt for the last seven years. Ali and the idoit lady are the very reason the economy is in the shape it's in. If I went to Vegas and put all my money on the blackjack table and lost who would bail me out. Stocks are a gamble. This country should now go back to what my grandma taught me. If you don't have the money for it, you don't need it. Buy now pay later is not the way to run a finanical system. You go Ben Stein, tell it like it is.


Ken Culbertson   September 30th, 2008 12:33 am ET

Rangle is exactly the reason we are where we are. Is it possible to find a democrat who can make a statement without blaming bush?
Today should be sufficient to make the point that the blame game is a deal killer. I study this stuff and oversimplified, Bush and the republicans basically failed to do anything about a problem caused by the democrats so stop the blame game. We are fed up out here and blame both parties for the mess. If it were possible to put none of the above on the ballot they wolld win in a landside.


Cheryl   September 30th, 2008 12:33 am ET

The situation between our elected politicians and their constant display of partisanship and tit for tat comments and excuses is getting really old now! The American people expect the elected officials to do their jobs and listen to what the people want and what the people need to survive this horrible economic event! Put the flames out and get to business! If it wasnt for the Speakers total out of line comments today the deal would have been signed! We are all Americans who certainly want the economy to stablize, Lets do what we have to and then go after the wall street giants that double dipped the markets and the Freddie and Fannie scalpers that disstabilized our banks and mortgage instituions and hopefully capititalize the gains!


Pattie   September 30th, 2008 12:34 am ET

Larry,

You ask whose fault is it whether it is OBama or McCain? Well I don't believe it is either ones fault. I believe it is the Republicans fault because they refuse to come together on this one issue. Well, they can afford to lose money but us little guys don't have that much to lose. I have just come through Hurricane Ike what more do you want to do to me wipe me out financially.
The bailout needs to be given to the American Public to everyone 18+ and divide it among every citizen in the US. Then we could reinvest into the markets and I could afford to live on 127,500,000 and then it would go back to the markets and pay off health bills, mortagage, buy cars, invest into bonds and don't give a penny to AIG

Texas


Amy Huddleston   September 30th, 2008 12:35 am ET

I think had the question been posed to Americans "do you support a credit market rescue to avoid further job losses and a deep credit pinch for banks and individuals" instead of "do you support bailing out wall-street fat cats" the answer would have been very different. It is ironic that taxpayers lost 1.2 TRILLION dollars in our 529 plans (for childrens savings), retirement accounts and individual stock accounts because some Republican House members chose their egos over the best interest of our country. Just like in highschool, many times the unpopular thing is also the right thing. If my daughter had told me she didn't do her homework because she didn't like how her teacher told her to do it she would have been punished. These House Republicans are paid to pass legislation that benefits the American taxpayer (voter) not to worry about hurt feelings over a speech Pelosi gave (after they themselves have choosen to be quite partisan by not even being at the negotiating table for the first several days).


Rob Henry   September 30th, 2008 12:35 am ET

Larry, Deal or no deal NO DEAL!!!!. This is the beginning of the long awaited revolt by main street. A real American revolution. We the people are done with bait and switch legislation. Sure go ahead lead us down the path to fame fortune and then lose us in the wilderness. NO way this market should drop as low as it needs to go. Some tough times yes, but you don't get a pass for deception and lying. Paulson and Bernanke should tender their resignation immediatley. They both need a "dope slap". Irresponsible arrogant bureaucrats.. ENOUGH Thank goodness I don't have any money ( NONE) in 401k. I put all my investments in real estate. yes they have declined but I can sleep in my portfolio try that with a mutual fund.
PS I can hardly wait for election day and a new Democratic President.


Lillian (Michigan)   September 30th, 2008 12:36 am ET

Go Republicans, don't let them put this garbage bill through.....It stinks, sorry to be a Democrat, I will now vote Republican. Your absolutely right on the Fannie and Freddie, it was the crooks that messed them up ask Obama, he knows the deal. Check out the facts on Fannie and Freddie. His clonies were behind it all. What a mess.... The whole thing is a mess and now it is in the hands of congress, we are really in a mess now.


Mark from Virginia   September 30th, 2008 12:37 am ET

Larry,

I stay away from stocks. I like cash, bonds annutities and a fixed rate mortgage. Boring but works for my wife and I. Four credit card companies offerred me new offers last week in 1000s of dollars.
I pay my baIance to zero every month. Checked with a car dealer and he said a $40,000 new car loan was no problem. I would never borrow money to purchase a car. I pay cash or drive an older car.

I don't care for 401K programs. Too restrictive.


Randy Whitehurst   September 30th, 2008 12:37 am ET

Love your show Larry!!!


Sweets Stellar   September 30th, 2008 12:37 am ET

How much better would all of this dismal business be if there was no media telling us how to think?

I've been told how to feel and what to think for so long, I find myself unable to make a decision on my own.

Kind of like how the government works.

Hey, is the media running the country after all?


Gene Langelier   September 30th, 2008 12:39 am ET

Remember a few years back when Congress disallowed credit card interest deductions.....then opened up equity loan deductions......that's when all this started.......a grab at the most precious of peoples assets, their homes.
Now we're gonna let the same people tax us for the bailout.


Spencer Krenke   September 30th, 2008 12:39 am ET

Great Idea Larry, let's ask Suzie.

Instead of rewarding the banks for their poor lending practices, why not give every American Homeowner a "Mortgage Payment Holiday"? Force the banks to accept up to 6 months of no payments (while allowing them to accrue the interest on the principal balance), and encourage homeowners to use this cash to pay down credit card debt and increase savings? This would be better than giving the chickens to the hens wouldn't it?


Joan Smith   September 30th, 2008 12:41 am ET

If PMI insurance is required when you purchase a home with less than 20% down, why are banks and the stock market in this mess.


MARIA   September 30th, 2008 12:41 am ET

This is just a comment.....I'm originally from the Philippines....I can't believe that the US government and the greedy CEO's literally plundered my family's money....just like the Marcos regime....BANANA REPUBLIC.......i hope you can forward this to all the clowns in the Congress!!!!!!


Frankie Obrien   September 30th, 2008 12:41 am ET

Regarding the rejected bail out bill It really irritates me that no one points out that the cap on CEO salaries only applies to NEW CEO's-and that the ones already in place would have would gotten their golden parashutes afterall...


Imogene Lutenbacher   September 30th, 2008 12:43 am ET

Charles Rangle, looked so smug tonight on your program, a real know it all. If he would pay his back income taxes maybe he would be more legit, to us viewers. He tried to put the female Rep. down, however, we out here in your audience are not crazy. Why are you NOT TALKING about A.C.O.R.N. Larry. Lets see you through some real hard balls. This slush fund has a lot to do with voter fraud. Come on Larry you have more to you then soft ball throughing. Let us hear more substance..not fluff. More equal talk..not lopsided. I fear you are loosing us out here in America, especially after that interview with that Iran guy. You really did not look good.

Respectfully, Imogene


George   September 30th, 2008 12:46 am ET

Larry, not much has been said about all the retirees who still have home loans and money invested in the markets. Somebody better be thinking about them as well as those who are young enough to be part of a recovery ten or more years down the line.


dAVE   September 30th, 2008 12:47 am ET

This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy!!

Hi Pals,

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage – housing crisis solved.

Repay college loans – what a great boost to new grads

Put away money for college – it'll be there

Save in a bank – create money to loan to entrepreneurs.

Buy a new car – create jobs

Invest in the market – capital drives growth

Pay for your parent's medical insurance – health care improves

Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed
by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion

We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,


andrew   September 30th, 2008 12:48 am ET

How come nobody is talking about the largest consolidation of power since WWII and the Great Depression.
Andrew


patrick k   September 30th, 2008 12:49 am ET

The real issue the american public should be upset with is that the powers at be have taken this long – the last 90± days – to start telling the truth about severity of the problem. lets not "shoot the messenger" now that he or she has finally seen the light... or in more realistic terms "cut off to your nose to spite your face"
Personal credit lines started being reduced almost 6 months ago. I'm a "small business" that gets paid to broker loans for other "small businesses" to do their business. I have a sustantial pipeline of qualified clients I can't get funded and haven't been able to for the last 60+ days.
guess what, i'm not getting paid either.
PK
West Hollywood, CA


Don and Donna   September 30th, 2008 12:51 am ET

How dare they ask that we give our money to Paulsen AGAIN!! He would gobble up my last penny with no regret. The only person that has spoken our thoughts is Ben Stein....forget the trickle down, it doesn't work because the ones at the top forget to trickle. Give the $700 billion back to the homeowners and small businesses....let us rebuild the economy from the bottom up. We could get out of debt, put money back in the bank and even rebuild Wall Street if we choose. Rebuilding the fat cats on Wall Street would be by choice though, not by mandate.


Michael Jacups   September 30th, 2008 12:52 am ET

If the market lost a trillion$ today what will 700 billion $ do.No one even knows if it will do anything at all.


angry american   September 30th, 2008 12:53 am ET

This is ridiculous, we spend so much time and money in iraq, and now our own economy is on a downward spiral. I would think our goverment which regulates everything would make sure that this sorta thing wouldn’t happen. Everyone said George Bush would cause world war 3, but never imagined he would give us another great depression.
This next election you have to ask yourself, who are you going to vote for, The douch bag or the douch bag?


Joe   September 30th, 2008 12:54 am ET

Jordan, your math is off. It would be $425 per person, not 425,000.


Gene Langelier   September 30th, 2008 12:56 am ET

Seems like most of your advisors are pro-bailout.........get this straight.....the PEOPLE don't want it.


winston matsuura   September 30th, 2008 12:59 am ET

Who's fault is this financial mess?

The Boss's fault!!!

President Bush, who proves the lack of know-how to supervise those working for him, especialy the republicans who refused to help this country for the sake of re-election with a simple vote in a time of crisis.

All those salaries should be refunded for the last 8 years based on poor job performance.

Perhaps if the people in congress were to be dismissed for not doing thier jobs, like what happens to the rest of us on "main street" this may have not happened.

The way I see it "we the people" are thier Boss, they work for us!!!.


Ken   September 30th, 2008 1:01 am ET

Jordan – Nice plan but before anybody starts spending the money, 85 billion divided by 200 million is $425. Not $425,000. Are you a congressman by any chance?


Susan - Canada   September 30th, 2008 1:02 am ET

I agree with Mary Johnson's post....why should the government bail out people who have been irresponsible. I saw on t.v. some of the homes that were going into foreclosure or that were for sale. Good lord, these homes were huge. I can't believe that people honestly thought that they could afford the mortgages on these homes, let only afford to furnish them.

My husband and I only have 1 credit card and pay off the balance on it every month, often before it is due. We don't use it to buy groceries or gas...actually the times we use it the most is to go out to dinner. Our house will be paid by next year...

We sleep good at night!!

Larry, love your show up here in Canada.

CNN, PLEASE POST THIS COMMENT. WHY ARE MY COMMENTS ALWAYS IN MODERATION? I HAVE POSTED COMMENTS EARLY IN THE DAY AND IT STILL SHOWS BEING IN MODERATION IN THE EVENING.


Karyn B.   September 30th, 2008 1:06 am ET

John McCain was blatantly lying when he said that it was the Democrats fault that the plan failed. And to blame Barak Obama was simply more Republican lying and political propaganda. The numbers tell the story: 66% of the Democrats voted for the plan, while members of McCain's party couldn't muster more than 33%. McCain touted his involvement in the deal and blames "the people in Washington" for the mess. McCain was AWOL at a dinner with Joe Lieberman and the "people in Washington" are the people of his own party–the Republicans.

John McCain and the Republicans' lies to cover their own inadequacies and failures–reminiscent of Nazi Germany.


Charlene   September 30th, 2008 1:06 am ET

I am very fortunate and am not at this time at the risk of loosin my home and for this I am grateful.

My question is why not bail out the homeowners that are about to loose their homes and let the money trickel up and save the banks that way.

I would support the bill to do that a lot easier than I can the one to save wall street


Kozzmo   September 30th, 2008 1:07 am ET

The people do not want this bailout.

I am glad to see the House actually represent the will of the people over the will of wall street. And yes, if they defy the will of the people, they should worry about thier job.

It's about time we have a government that works for us!!!


Charles Bunting   September 30th, 2008 1:08 am ET

Larry,

John McCan't, with Cantor holding his lemmings' skirt tails, is the Pied Piper leading these Republican House self-preservationists to destroy the lives of millions of Americans... it's virtual treason at the heart of American life...and, THESE are the people who SHOULD be doing everything BUSH tells them to do...yet, THEY are the ones coveting their own elected jobs. Why make these lemmings jump? Let's KICK them off the wharf with the rest of the rats!

Charlie


T   September 30th, 2008 1:10 am ET

Let's get our country clear of this Wall Street Mess! Oil coming out of Alaska belongs to the people of the US who pay taxes to protect it area. We gave the oil big wigs a break. So why not turn that oil money into paying this 700 billion debt. Save the tax payers.........


Mark   September 30th, 2008 1:11 am ET

I myself, and I believe the American Main Street electorate would agree, am tired of the partisan politics, finger pointing, and non functional politics as was shown by todays inabilities of our representatives in Washington. They spend more time blaming, pointing at the past, and wasting legislative time, and the taxpayers time, without accomplishing anything.

Todays failure to pass a bill to assist with the financial crisis is the same as Washingtons failure to address overextended credit, lack mortgage lending policies, energy shortages, health care issues, and so many other crisis facing the Ameircan families.

There only seems to be a right and a left, and no middle ground with common sense applied to disfunctional markets, health care, government spending, free market trade, and the list could go on and on.

It won't matter who is elected President, the House and Senate can't introduce or pass bills that effectively make a difference on any issue.


julie raney   September 30th, 2008 1:13 am ET

I AM SO GLAD THEY DID NOT PASS THIS BILL I THINK IF THE GOVERNMENT PUT IT'S SELF CHARGE OF THE BANKS AND THE MARKET IT IS THE SAME AS CAPITOLISM. IF WE STAY OUT OF IT AND LET THEM SUFFER THE CONSEQUENCES FOR WHAT THEY HAVE DONE IT WILL HELP BRING US BACK TO THE GOOD OLD DAYS. NO CREDIT IS A GOOD THING. WE ARE LIVING ABOVE OUR MEANS. THE PRICES FOR EVERTHING WILL GO DOWN AND MAKE IT EASIER FOR ALL.


Jackie T.   September 30th, 2008 1:14 am ET

As a North Dakota Democrat who enjoys listening to and not always agreeing with Ed Schultz, and after watching CSPAN and listening to some of the courageous 12 who voted against the bill, I agree that voting against it was in the best of interest of everybody. What is the hurry.? Are two or three more days going to matter to get it right? When someone tries to push something through that fast, it makes one think that someone is covering something up. We always need to get both sides before making decisions and then we can make the best decisons.


Charlene   September 30th, 2008 1:18 am ET

I just read the blog posted by Jordan

I would vote for him right about now. His plan makes sense.


Mike   September 30th, 2008 1:25 am ET

Our family lives in southeast Oklahoma and we are happy that the 700 billion bailout did not pass, the reason being is because it would be better to use that money to help the American People instead of a couple of crooked banks,Why can't we take that 700 billion and invest it in alternative energies (i.e. solar, wind, bio-fuels), education or health care? There is an average of 325 million people in the U.S., and 700 billion dollars can help each and every one of us with the issues that matter most, instead of bailing out executive greed.
We work everyday to scrape by while people in wall street trade our lives for a profit, Where does this end? Or does it?


Rita   September 30th, 2008 1:46 am ET

TODAY, 9/29/08, congress got it right. As a long time democrat, I'm switching to a more conservative approach to spending our tax dollars with a critical eye on Obama. For example, I totally agree with Ben Stein. He's making sense. Bailouts for home owners, people who for whatever reason have maxed out their credit and are in danger of losing their retirement funds, housing/apartments, etc. , and don't the worst victims of the 80s financial deregulation, that enabled unending debt with a corrupt, student loan industry who are paying unending interest on loans for 20 years with no end in sight, especially those facing retirement who can't even secure a 500 dollar overdraft fee on a checking account due to credit reports that too, do not take evidence from the consumer. We live in a lenders economy and the borrowers are now realizing that no matter how much you pay...you can NOT get our of debt under the current deregulated climate. As for Paulsen, he and Bush/the VP, should all just shut-up. They created this mess, for example spending money on a useless war that will only secure MORE enemies and we're not going to listen to any more lies. Each time the president speaks he makes matters worst. As the market goes down, there will be buyers...wait and see. Trends are just that, time spands, that expand and contract. As a democracy, we the people DEMAND justice and we demand to be represented from the bottom up. We rule the country, not Wall Street or the wealthy. We are the workers, the voters and w/o us there would be no America! This is the reality. LET us BORROW the money from our own banks, USA guaranteed, that is, we the people, if you want to move the economy. Let us pay our debts to the banks/lenders. Otherwise the 700 billion bailout to the lender?is crazy and deserves not one minute of consideration. Only those who are out of touch with the average citizen would even come up with such a stupid plan. The accountants and economists have got a good grasp of this crisis, not the financial planners! Sorry Sue.


Alicia Noway   September 30th, 2008 1:47 am ET

No one, including Congressional Representatives, Sanators, President Bush, Obama, Macann, and main stream media understand the root of the problems and how the Bill will impact the budget immediately and can clearly explain to the public. I am amazed that anyone wants to spend $700B without knowing what the tax payers risks would be and when the tax payers would be able to get money back. Obama wants to spend more tax payers money for all kind of programs. Where are the $700B coming from? How will he pay for his new programs? Middle income tax payers are paying majority of taxes. More programs for NON-tax paying people. I am an independent. I am so tired of the incompetent analysis and comments from the main stream media and politicians!

Alicia


justicewarrior   September 30th, 2008 1:50 am ET

A hybrid solution to the U.S. financial crisis.

The problem seems obvious in repetitive economic cycles. Unchecked capitalistic greed caused one great depression and possibly a second.

FDR had to innovate numerous socialistic programs to revive and protect the failing economy in the great depression (banking reform, emergency relief programs, work relief programs, agricultural programs, industrial reform, labor union support, the WPA, aid to farmers and migrant workers, the FDIC, FHA, SEC and the Social Security Act).

Then over the past 40 years greedy capitalists did everything possible to emasculate FDR’s humanitarian programs because they wanted to get rich quick by controlling all human lifelines. They busted labor unions, raided Social Security funds, destroyed small farmers, destroyed vested retirement programs and put all workers' retirement future in a stock market crap shoot, and they exploited all human essentials for maximum profit, like housing, healthcare and energy.

Therefore, the logical solution might be to simply let capitalistic crapshooters suffer the consequences of their own self-regulating market theories. Instead of giving them $750 Billion to keep their gambling games in action, just use that bailout money to keep their victims afloat with FDR style social programs, and government loans to the needy.

Thus, Socialistic-Capitalism: Let the government protect all essential human lifelines from greedy exploitation, like housing, healthcare, currency trade and Social Security. And let the capitalists bankroll free market enterprises at their own risk, which is what they claimed to be doing all along. But now everyone can plainly see they were simply shooting dice with the economic future of all the little people who can’t afford to gamble.
© Copyright JRB 2008/9/29


Mike   September 30th, 2008 1:55 am ET

So you mean that I have to pay my taxes to FAILING......FAILING mind you,companies that were to friggin greedy? You have to be kidding me if you think we the people should just eat it to pad the economy.
The Bush boat is a lost vessel.
Not to mention the stock loss today was 1.2 trillion dollars, wow, the 700 billion is gonna work a miracle, or should we just bury ourselves more to foreign power, since we are up to our ears anyway?


Matt   September 30th, 2008 1:59 am ET

How are we punishing crooked banks by not passing this bailout bill? All of their top executives and top traders will move on to get great jobs because they have great resumes. In the end who will we punish? The people that loose their jobs because the market loses trillions in value, the people that can't afford to get a new house because the rates are too high, the people that own small businesses that can't get the cash they need to succeed. It's going to be the small people that feel the brunt of the recession. We are hurting ourselves and that's why all the analysts and experts are supporting this bailout bill. It's to bail out the economy for all Americans, not the crooked banks. And what is a crooked bank? They did nothing illegal... that has yet been identified. Do any of you know what criminal acts they have committed? It seems so narrow minded to think we are punishing the people that caused this crisis by not supporting the bill. Chances are most of them will be fine whether or not the bill passes; however, out economy likely will not. It's clear that our government is not smart enough understand the financial instruments and the regulations required to moderate them. It also clear that our Congressmen don't have sense to look out for the best interest of the American people.


Mike   September 30th, 2008 2:11 am ET

It is my understanding that it is the bank executives that got themselves into this whole situation in the first place. I have also heard of one or two executives who managed to move themselves to a non extraditable country just after the denial of the bailout. If that is not corrupt I don't know what is.


joy Stevenson   September 30th, 2008 2:19 am ET

Iam in favor of bailing out the little guy ,if anyone needs it , it should be him,---(BUT) I cant belive so many people dont know how to manage there money. Homes with arms, because the monthly pmt. was less?????, Credit Card Debt growing off the wall with interest ,ETC,ETC,ETC. OMG ITS TIME TO LIVE ON WHAT YOU MAKE. Rewards should go to those who deserve it,not those who want ,want want & cant afford it. Come on America wake up, If it not to late. Talks cheap ,Takes money to buy whiskey,lets get on with it. Thanks for letting me vent.


Mike   September 30th, 2008 2:24 am ET

In reference to matts post, the biggest concern that I see is the poor executives may get punished, why is it that we have to paddy around a couple of rich people to make everything go right and not fix the core of the problem which is greed. If it weren't for 300 million dollar bonuses given to themselves being employed to a failing company this would almost make sense.


Stacy H   September 30th, 2008 2:26 am ET

Goes to show I have been filtered out!!!!!!!
How wrong is that??????

Stacy H


Stacy H   September 30th, 2008 2:54 am ET

I never said that... Filters suck!!
I have kept copies of all my blogs and I never said anything or suggested anything of a sort.... Taking my words out of context is wrong...If and when Congress passes the Bill I am adament about the facts.... When you cave to the by-partisanship you fail to recognise your roll in the consequinces.... We as Americans do not take this for granted......We will endure and adjust we will also take our up and comings for the better of the country and our people and our world....

Stacy H


Ellen   September 30th, 2008 3:07 am ET

This whole Wall Street debaucle needs to be left in the lap of the idiots who made the mess. Why should the American taxpayer bail out these overpaid 'pencilpushers'? You want to straighten all of this out? Simple answer is to fire from the top on ALL of these contributing morons.And NO buyouts or severance...just dont let it hit ya where the Good Lord split ya. (my dad's favorite) The only other choice they have if we are so kind is PRISON! They made an example of Martha....now its their turn.


Joseph O'Connor   September 30th, 2008 3:23 am ET

i WOULD LOVE TO KNOW HOW MANY THAT ARE MEMBERS OF CONGRESS HAVE PULLED THERE MONEY OUT OF CERTAIN INVESTMENTS THAT THEY WERE HOLDING BEFORE THE VOTE WAS FINAL.


Wes Crosson   September 30th, 2008 3:37 am ET

Congress did the right thing in voting down the 700B bailout to Wall Street. We should revitalize the economy from the bottom up by injecting money directly into the economy. We can start by allocating 2M to each adult American to spend or save as they please. Additionally, we should begin desparately needed infrastructure repairs which would create work for many Americans. What politicians don't seem to understand is that for the masses at the bottom it's hard to rationalize giving to the people at the top when they are not able to adquately supply the needs of thier families. Many Americans have been in finacial crisis for the past eight years. If .giving each American x amount of dollars to do as they please sounds far fetched to you so does giving 700B to the losers who created the mess to me.


Brian   September 30th, 2008 3:46 am ET

Larry, I'm just curious but don't you think the increase in oil prices had a larger part to play in our ability to pay our bills. If the main reason we are in the crisis is because of the mortgage fallout, then wouldn't it be safe to say its beause of the increase in prices on eveything else.


John   September 30th, 2008 3:46 am ET

The magnitude of the disaster Wall St. has created is monstrous, and I do not believe that $ 700 billion is going to end the problem. The public risk for private profits just doesn't work anymore.

Taxpayers are mad as hell that greed-crazed, well-heeled investment bankers were able to extend ridiculous mortages to the obiously indigent, all the while knowing the math was on their side, that if their deals went south Uncle Sam would reward their incompetence with a bailout.

Somthing fundamental has got to change, or $ 700 billion will only prolong delay the inevitable death of the North American Economic system.


Robin Wilder   September 30th, 2008 3:48 am ET

With all undue respect for those who are most concerned for being re-elected (and/or, implicated)~ not to mention our finding ourselves in this incredible position of being at the mercy of being saved by the same evil that caused this financial apocalypse~ how can it be possible that our 'leaders' are so self-serving, cowardly or naive that they would sell us all down the river in the span of only a day now, rather than pull themselves (AND Main Street!) out of the headlights of this train which is nearly upon us all! LISTEN TO SUZE! This is not a question of what is fair! This is damage control of the highest order and no matter what happens this is only a question of whether life ceases to exist from here out as we've known it~ or whether our lives just cease to exist. It is already nearly too late to reverse this, even badly, and our prosperity as a nation will become a moot point beside what this does in addition, to our security. FORGET POLITICS, EVEN WHAT IS FAIR, and PASS this bill, TOMORROW!!


Brian   September 30th, 2008 3:53 am ET

Where is the 3 page bailout plan to reduce our dependency on oil? Larry why don't you come up with a plan... start a email chain and the Bush Adminstration will find it and try to pass it next week!


Carl Peterson   September 30th, 2008 4:33 am ET

I have blogged atleast 4 times this night. All of which had been illustrated above, but now all of my blogs have been erased! Too bad since I do not normally stay awake this long' but felt it my duty to tell it like it was to other bloggers. I sent a mesage to AMY that now references dAVE, above. I have lost a great deal of commentary due to this problem, whatever it was, but it seems to be out of my control. Please email me at cwpenter@sbcglobal.com, and I will tell the striaght truth on what I know on the bailout, and the ramifications therein. Based on what I've seen so far this morning, this link will be erased soon. Thanks,
Carl


Leslie Meyer   September 30th, 2008 5:21 am ET

The gun to the head policy did not work in the Netherlands with the European Constitution Law people in America finally awoke and stood up against this policy of do what I say or you will not live another day.


Innocent Wabo   September 30th, 2008 5:25 am ET

Hi Larry
I am watching from Douala Cameroon. Wanted to understand the implication of the ongoing crisis on other countries in Europe and especially in Africa.

If other countries of the world are going to be impacted severly, what can they do to help this?

Thanks in advance for your insight.

Innocent


weneedachange   September 30th, 2008 5:31 am ET

IMPEACH BUSH


Nancy   September 30th, 2008 5:50 am ET

We are in the middle of the biggest financial crisis and our goverment has taken two days off? What is WRONG with the people we put in office. I am just sick and tired of this Political, he said , she said and the Country and the WORKING people sink.

Noone likes this bill however the alternative will be at a huge costs to
Americans....Cnn asked for the names of the House Representatives who voted no on the bill...they would not give the names, if they think they are right in voting NO, then WHY are they hiding? Our goverment is a JOKE.

There isn't much I can do except on Nov 4th , vote OUT everysingle politician in office.


Chantel   September 30th, 2008 5:56 am ET

guess giving your opinion here is not an option
i hope suzy got my message


Chantel   September 30th, 2008 6:00 am ET

goooodmorning america...


joey   September 30th, 2008 6:16 am ET

If the USA continues to spend 3 trillion dollarson the wear in Iraq then there will always be financial problems .We all agree that the basis for the war was incorrect.
The financial crises could have been averted by pumping this money into the mortgages of ordinary Americans who have been decieved by the present administration that indicated all was well with the American economy.
This applies to all the allied countries as well
Cheers
Joey


Leo Hanes   September 30th, 2008 9:02 am ET

Is there no "Balance" between regulation, and free market floating to value? Is there no "Balance " between Government Run Programs, and Free Market Growth?

Just imagine if your health care was a stock fund today??

"We the people" are the Government & We DO NOT trust ourselves to run our own health care programs....Guess we do not trust ourselves on main street,,,but we trusted Wall Street somehow or other......HMMMMMMM

As long as the solution to credit problems is more credit, how do we expect to ever see the light again

All the emphasis in the past couple decades is "GROWTH" at all costs....has anybody ever thought of creating profits instead of debt...If CEO's were rewarded based on profits, and actually penalized on losses, bet the crisis would have been averted...without all th efear and hype.....let the free market work........yes it is painful, or else let the government intervene........you cannot have it both ways........

BALANCE!!

psst....BIGGER is proving to NOT be Better once again


Lisa Bastien   September 30th, 2008 9:14 am ET

Larry,

If the US government is going to "bail out" these financial instiutions why don't they consider the debts of those they are covering forgiven as well? This would surely be a stimulus to the economy . Why should the financial institutions get to double dip - a bail out sum AND consumers continue to pay those loans??? I say if these institutions receive money those debts should be forgiven in whole or in part. It is a mess for everyone but at least with this package maybe it would jump start the economy in some way, shape or form. I cannot see rewarding these institutions for their foolish practices while the American people continue to foot the bill.

Just my two cents worth. Thanks for allowing me to vent.


Mike Ayotte   September 30th, 2008 10:10 am ET

This Economy problem and the preposed Bail Out Plan, brings to mind a few puns; "What Came First, the Chicken or the Egg"? "Don't Put the Cart before the Horse" and "Don't Close the Barn Door After the Horse gets out". Our Government is addressing the wrong problem by bailing out the Mortgage Lenders. Here's how it started; The people of the US lost their jobs FIRST by our Government signing on to NAFTA and International Free Trade thinking World Economy would be good for us all. Then our jobs went overseas. Then we were unable to pay our mortgages. Then our house values fell. Then the Mortgage Lenders crashed! That's the order in which it happened and if we don't start bringing Industry back into the US, we'll never fix the REAL economy problem.


Amy   September 30th, 2008 11:19 am ET

If the officials are in place due to the will of the people, I say we will that they bailout us Americans and leave corporations and big business to fend for themselves......with enough of my tax dollars I could solve my own financial issues. What is the law on taxation anyway? No tax attorney knows and thus it really isn't a law!


Laren Pottie   September 30th, 2008 12:15 pm ET

Please read this, some thought of a plan like this might wotk, we tried $1000 reate but it wasn't enough. The [aln to bail out the big companies won't work because it would take a long time to show results. this plan would work instantly

---Original Message---

From: Sound Waves Magazine
Date: 9/29/2008 3:28:39 PM
To: Undisclosed-Recipient:,
Subject: We deserve it!!!!

700 billion divided by 200million is $350,000

I received this email this morning and thought it would be pretty
> neat to
> get everyone's reaction to it. Do not know who the person is who wrote
> it,
> but he's got a great idea if it could only be followed thru.
>
>
> Hi Pals,
>
> I'm against the $85,000,000, 000.00 bailout of AIG. Instead, I'm in
> favor
> of giving
> $85,000,000, 000 to America in a 'We Deserve It Dividend'. To make the
> math simple,
> let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our
> population is about
> 301,000,000 +/- counting every man, woman and child. So 200,000,000
> might
> be a
> fair stab at adults 18 and up..
>
> So divide 200 million adults 18+ into $85 billon that equals
> $425,000.00.
> My plan is to
> give $425,0 00 to every person 18+ as a 'We Deserve It Dividend'. Of
> course, it would
> NOT be tax-free.
>
> So let's assume a tax rate of 30%.
>
> Every individual 18+ has to pay $127,500.00 in taxes. That sends
> $25,500,000, 000 right
> back to Uncle Sam. But it means that every adult 18+ has $297,500.00
> in
> their pocket.
> A husband and wife has $595,000 .00. What would you do with
> $297,500.00
> to $595,000.00
> in your family?
>
> Pay off your mortgage – housing crisis solved.
> Repay college loans – what a great boost to new grads
> Put away money for college – it'll be there
> Save in a bank – create money to loan to entrepreneurs.
> Buy a new car – create jobs
> Invest in the market – capital drives growth
> Pay for your parent's medical insurance – health care improves life
> Enable Deadbeat Dads to come clean – or else
>
> Remember this is for every adult U S Citizen 18+ including the folks
> who
> lost their jobs at
> Lehman Brothers and every other company that is cutting back. And of
> course, for those
> serving in our Armed Forces.
>
> If we're going to re-distribute wealth let's really do it...instead of
> trickling out a puny $1000.00
> ('vote buy') economic incentive that is being proposed by one of our
> candidates for President.
> If we're going to do an $85 billion bailout, let's bail out every
> adult U
> S Citizen 18+!
>
> As for AIG – liquidate it. Sell off its parts.
>
> Let American General go back to being American General.
>
> Sell off the real estate. Let the private sector bargain hunters cut
> it
> up and clean it up.
>
> Here's my rationale. We deserve it and AIG doesn't.
>
> Sure it's a crazy idea that can 'never work.' But can you imagine the
> Coast-To-Coast Block Party!
> How do you spell Economic Boom?
>
> I trust my fellow adult Americans to know how to use the $85 Billion
> 'We
> Deserve It Dividend' more
> than I do the geniuses at AIG or in Washington DC.
>
> And remember, The Family plan only really costs $59.5 Billion because
> $25.5 Billion is returned
> instantly in taxes to Uncle Sam.
>
> Ahhh...I feel so much better getting that off my chest.
>
> Kindest personal regards,
> A Creative Guy & Citizen of the Republic.
>
> PS: Feel free to pass this along to your pals as it's good for a laugh
>
>
>
>


Carolyn Timmons   September 30th, 2008 12:26 pm ET

This 700 Billion is just sort of a ball park figure. They do not have a firm number for us. So, our first bail out should be to give all americans 19 years and over one million dollars, and only those with less than a million already. Much cheaper and would do more for the country and the economy. Then if the poor rich guys are still struggling we could consider another handout for the rich.


JLS   September 30th, 2008 1:04 pm ET

Doesn't a "Bailout" violate the "Uniform Laws on the Subject of Bankruptcies"?

From the United States Constitution:

Section 8 – Powers of Congress

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

Here's a different approach.

Maybe you'll like it, maybe you won't. Please forward it on to everyone you know if you like it. I'd like to see it gain some momentum.

I'll start by saying I'm no economic genius. In fact I have a very modest education compared to many of you who will be reading this.

Let's go about this problem a little different than what has been proposed so far. Let's do our best to encourage what is left of our free enterprise system and continue to have a solid foundation for building a better America. I love this country, but, over the past few years I've been amazed and disheartened by the decisions of our leaders.

We have a system of free enterprise and an economic structure based on capitalism and trade in this country. A wholesale buyout of the institutions responsible for creating our current situation will destroy our system of free enterprise. Wall Street will likely be damaged beyond repair. And, our economy will be much more socialized than it has been. I would like to have the opportunities that a free enterprise system provides. Our enemies are jealous of our financial success and strong middle class and they are doing a great job of destroying it. As a country we seem to be complacent with compounding the problem.

Here's the basis of my plan.

Pick a credit score we as a country consider to be that the average honest financially healthy red blooded American citizen. The hard working I don't have everything, but, I work hard, I pay my bills and honor my commitments, citizen. For the sake of argument let's say that score is 650. Everyone who currently has that score or above will receive a major federal tax credit for as long as they maintain the score. People who attain that score over the next year will qualify the following yeas tax credit as well. For the rest of the people who in my opinion helped create the problem. You should bear the burden of the financial woes of the country.

As for the the banks, insurance companies, financial institutions who didn't manage risk correctly, did not study what caused the great depression 70 years ago. They should pay.

As a government we could offer them 6% loans if the have a financial plan to get themselves back on track and become solid again. If not let them die. This country is based on a free enterprise capitalistic system.

Printing money to bail out those who have created this mess is only rewarding their behavior. If we print $700 billion dollars what do you think our inflation rate will be? What will a gallon of gas cost? What will our tax rates become? Creating an economic environment where poor management is rewarded and good management is punished will only further destroy this country. Let's force people to be responsible and reward those who are doing the right things.


Pamela E. Webb-Martin   September 30th, 2008 1:11 pm ET

Dear Larry:

I am a Guidance Counselor, Grades 10 – 12 at a Department of Defense Dependent School on Camp Henry, Daegu, South Korea; providing service to students whose parents have chosen to serve our country in the Armed Forces. My assignment is considered a "hardship".

The economy is a major issue but, for who? Certainly, I am concerned but I am just three (3) paydays away from financial uncertainity.

I can not afford to be employed in the United States(US)! In the US I'd be the working poor.

Education in the US has taken a back seat to everything. Not to mention schools in Tenessee are paying students to behave!

Something is very wrong.

An additional topic is Mass Transportation; that's the big picture- Gas Prices is just the prolouge.

I have resided in Europe and now in the Far East and have observed the efficient movement of persons by rail – where did we go astray?

The topics of education and mass transportation should, must be address and rectified!

Additionally, Larry no one recognizes the contribution of educators who have also elected to support the Mission of Freedom.

Why aren't we interviewed?

Respectfully,

Pamea E. Webb-Martin


Gene Langelier   September 30th, 2008 2:35 pm ET

Hello from all of us credit junkies. We are not participating anymore in your get-rich-forever sceme.
Today, it's "people don't understand". Well guess what, it's you who don't understand that we've had enough


Alheli Picazo (pronounced "Ala-Lee Picasso"), Calgary, Canada   September 30th, 2008 5:13 pm ET

So glad you've gone interactive Larry!! It's nice to be able to send in questions in real time instead of fighting with a busy signal on the phone!! That was so many more people can get involved and really feel like we're part of the show! 🙂


Robin   September 30th, 2008 6:13 pm ET

I'd like to know why you deleted my comment to last nights show 9-29-08 with Suze Orman? I didn't use vulgar or obscene language. I spoke my beliefs and opinions like everyone else, what's up with that? If I had been spamming you that would have been different, I wasn't. Is this America? Did you know, to have a successful blog you should hear the positive and negative comments? Otherwise you're just editing content to make yourself look better.
Was it because I used the words "US Constitution"? Very disappointed in you Larry.
I've added it to my twitter posting for all to see. I have a copy of my post to share with everyone. It's not dead.


dale nord   September 30th, 2008 9:19 pm ET

It's a bad bill. Can't trust the Proponents. I support the bypartisin support against the bill. Listen to the house of reps, they got it correct.
Palin should stay!


Ruth   September 30th, 2008 9:19 pm ET

Please! Someone tell congress woman Michelle B. to take that plastered smile from her face. She looks so plastic & ridulous!!


Jan   September 30th, 2008 9:20 pm ET

Nancy Pelosi a self-righteous, self-serving and hypocritical liar and should be the poster child for ALL THAT IS WRONG with Politicians. I am disgusted when she says that she is a practicing catholic and spouts off what she says is the Catholic Church’s teaching misleading anyone who is not Catholic. I am glad that she showed her true self before the important vote and I am also glad that it failed.
Janice


Suzanne   September 30th, 2008 9:20 pm ET

Unbelievable! No one's listening to the dire emergency of this. You're all hung up on partisanship! Also, this isn't about another lie. This is the truth, and believe me, I'd rather see those high-stakes CEO's fry in oil than get off, but we don't have a choice. If we don't get the bailout policy passed, things will be much worse than they now are. Forget partisanship. This is the 30's all over again, and my 93-yr-old mother lived through them, and doesn't want me to have to do it. She lived on bread and milk and went barefoot!


Frans   September 30th, 2008 9:20 pm ET

Your female guest said several times she knows all these "experts" that know it all because they have "been there and done that".
I just wonder where they have been to experience a meltdown of the stockmarket of 777 pts down of the DOW.. Acoording to my info this never happened before, so in what country were the "experts".
I lost 30% of my lifetime saving in half a day; so much for "experts" opinions and actions !


Jack from Michigan   September 30th, 2008 9:21 pm ET

L ary,

I.m an indepentent from Michigan and I believe Sahra Palin igives us a real insight of what kind of decisions John McCain will make.Scary! Thats why I have decided to vote for Obama.


Michael Cadigan   September 30th, 2008 9:25 pm ET

Shame on James Carvelle for politicizing a crisis. I'm an independent forced to vote for Obama, but I sure as heck wouldn't have gone to either of the four candidates for their advice on this vote. None of the four are experts in this area and I would hope they would seek knowIedgeable advice on this mess. I think the extra time has allowed for a better bill. Pelosi's comments were not needed. There is plenty of blame to go around for this fiasco. Let's talk about the dollars contributed to the campaigns of those who voted yes on this bill. Substantials sums I am told have come to those by the very financial institutions that will most likely benefit the most from the program. What do you say about that stat, James?


Connie   September 30th, 2008 9:26 pm ET

Why don't you have a segment where you put "Joe Biden under scrutiny?"


aayn viden   September 30th, 2008 9:45 pm ET

What is the specifric source of the monies to be used in the bailout; i.e social security fund, treasury..?


Bob   September 30th, 2008 9:45 pm ET

Carville's great. He should have his own show. I hope he replaces Larry when he retires.


Linda   September 30th, 2008 9:49 pm ET

I think the leftist media is absolutely scared to death that McCain/Palin just might make into the White House. Keep the insults coming...I'm getting closer the voting booth...wanna guess who I'm voting for?


aayn viden   September 30th, 2008 9:50 pm ET

Who is watching the backdoor during the bailout. Specifically the Delaware Bankruptcy Court, as reported by the NY Times, is corrupt and is satiating the avarice of the old boys including certain justices under the table.

No oversight by DOJ


Mary Guess   September 30th, 2008 9:52 pm ET

I sincerely hope the Senate will represent "the people" and vote down the bailout bill. The stock market hike today proves this entire "crisis' is just another scam. Let Wall Street fix it, they broke it! Congress needs to think of us and leave the taxpayers money alone. Remember, it was the people that voted you in, we can vote you out.

P.S. James Carville& Media bullies: Pull your fangs in a give Sarah Palin a break – she deserves the time to get acclimated, the other three men have had years. These constant stupid gotcha questions and attacks are simply irritating.

Mary Guess


Jean   September 30th, 2008 10:08 pm ET

Wasn't the woman you had on this evening with James Carvel the same one MSNBC reported that she stated the reason for the economic situation was because of black people and minorities. If so why wasn't the issue brought to her attention to explain her comments? I believe it was the senator from MN.


joy   September 30th, 2008 10:08 pm ET

Its not the news folks giving Gov. Palin a bad rap,its herself, lets face it folks shes from a small town in AK. Shes not ready to hold the position of VP. of this country and sen. McCain should be ashamed of himself for putting her in this spot, (SHE HASNT GOT IT ) let alone to be President. She cant even talk to the news media without instruction,because shes not informed on her own. Both parties got us into this, BUT the GOP was the leadership for eight years and they lead us down this path & now we all suffer. ITS time for a change & I will take my chances on Obama & Biden


Linda   September 30th, 2008 10:17 pm ET

I'll retype my previous comment. What I intended to say is the leftist media seems to be prejudiced against Sarah Palin. It appears to middle America that the elitist media seem to be setting her up to make her look foolish. My point is, she is a mother of five and a governor, I think she'll do just fine. In fact, she might even be better at the job than McCain. What the liberals seem to be saying are, "Oh no, she's got some common sense (Yes, she's right there with the normal, average American). "We can't let our golden child Obama down, so lets trash her and make her look stupid." Guess what? It works against you! It makes the Hillary Clinton women voters want to wait at the doorstep of our poling place on November 4th and VOTE HER IN! McCain is just the icing on the cake. Obama blew it when he didn't buy into the dream ticket. On the subject of the economy, the regular working guy has it dumped in his lap, no matter how Congress votes.


Friend   October 1st, 2008 12:00 am ET

In response to Kelly Parry........Kelly Parry September 29th, 2008 10:21 pm ET .... On Sarah Palin; I find it sad that she did not write her first public speech, but it ...

you honestly believe public speakers at any level write thier OWN speaches?

amazing no wonder no one knows what is really going on... and if you think Bush's administration wrote the supposed first words out of her mouth on the Georgia invasion being war, are, you serious?

First of all, put your money where the mouth is and stand up and write your first public speech as a VP and deliver it in front of a Nation that is predestined to hate you is shocked to learn about you and smile!!!!!!!!!!

Be positive now!! The country is in need of change!! And I think it has been provven that some can actually pull this off! And if you think any of these high profile people write thier OWN speeches, you really need to rethink things.


jeff   October 1st, 2008 12:16 am ET

Palain has not weighed in where she stands and Wed the vote happens. VP debate is Thurs. Palain will be a day late on her position.

What the heck is she waiting for...someone to tell her what to say?

She's playing it save for the ticket. McCain picked the wrong pig


Rick   October 1st, 2008 12:18 am ET

You and the left wing socialist you have on your show trying to be so politically correct, make me sick. Especially when you are so snub toward REAL people. The Elititst you are and have on your side in a totally lopsided conversation, you gang up on respectable individuals when they have a hint of consertive opinions. I think you and your pepople other than Glenn Beck, are a bunch of socialist monkeys.
CNN SUCKS PERIOD


G Watts   October 1st, 2008 12:39 am ET

Tell Paulson that the people still don't need to feed the markets. It sounds like a huge case of landlord remorse, where mortgage companies threatened and finally evicted people. Then the houses were left to rot.

The underlying problem has been the economy, and band aids have grown our festering problem. Here, we have Ali Velshi talk down to us like we're stupid. No, we know about the disruption, but it is a natural fall we will see. It's what is supposed to happen, just as the foreclosures they were executing. The people have never HAD money and so were encouraged and enabled to mortgage everything. That didn't cure anything. But why aren't the note holders selling the houses again?


Tom Thompson   October 1st, 2008 12:43 am ET

I find it funny that democratics blame republicans because republicans won't agree to a socialistic bill?


Tom R Adams   October 1st, 2008 12:51 am ET

On behalf of the many of us who carry large credit card debt (our fault) at rates raised arbitrarily to as high as 29.9% (banks fault), please do not agree to the bank bailout without requiring lower credit card rates for their consumers. While federally lowered interest rates have helped banks obtain low interest loans, consumers have remained trapped into perpetual debt by rates the banks have refused to lower. It would help our economy substantially to free up spending money currently gobbled up by high bank card interest rates. When banks pray "forgive us our debts", please find a way to require "as we forgive our debtors" as part of the deal.


Mary Imel   October 1st, 2008 1:05 am ET

Sarah Palin is very talented , but as for being the person just a heartbeat away from being our President ? No WAY !!!!! Not putting a slam on her, she would be a great standup comedian, she does not seem to be very political as of yet, maybe later on down the line.

OBAMA SUPPORTERS!!!!!!!!


Bill   October 1st, 2008 1:23 am ET

Larry, I have been watching all the cable news networks, and am very dissapointed in you. How much is the Obama campaign paying you to support him on the air.
Why bother having any republican people on you "panels" you always make sure they don't get equal time, and you interject your personal opions. It's predictable and shameful.
If you think this is in any way helpful your wrong.
You have no integrity.
Also nice job in your effort to completly destroy Sarah Palin, a fellow human being, and a fellow American.


Gregory O'Dell   October 1st, 2008 3:15 am ET

Screw the BIG Buisness CEO's that made 100 Million Last year... take that 700 Billion and Buy some Gasoline and sell it for $1 a Gallon and Help everyone !!!! That would help the Industry Cost of food all around!!

Would love you to Mention this on your Show!!


Gregory O'Dell, From Indianapolis, Indiana   October 1st, 2008 3:20 am ET

Don't pass that Bill - Pass one to Lower Gas Prices Buy 700 Billion USD in Fuel and Sell it to everyone in the USA for $1 a Gallon and see how that helps the Economy!!


MC   October 1st, 2008 3:21 am ET

After seeing Gov. Palin in unscripted action, I believe a McCain-Fey ticket would be more promising.


John   October 1st, 2008 3:31 am ET

The experts say if the American Taxpayer doesn’t take this 700 billion dollar bailout no one will be able to get a “loan”, It is inevitable that this bailout will pass and hurt our economy for years.

What I find reprehensible is there was a “Savings and Loan” crises 1988 which eventually cost the American Taxpayer almost 200 billion in bailouts. The economy soured, deficits soared and the taxpayer struggled. 5 Senators were charged for corruption in relation to the crises in what was known as the Keating 5. Presidential candidate John McCain was one of the Keating 5.

The last time there was a Bush in the White House and McCain in the Senate, Charles Keating was convicted of fraud, racketeering and conspiracy for “manipulating” 5 US Senators. John McCain, charged with corruption and was “censured” for “poor judgment” by the Senate.

When John McCain was charged with corruption, George H. Bush was Vice President to Ronald Reagan.

A Bush in the White House and McCain in the Senate. Banned from banking, fined and found culpable in a civil suit was Neil Bush, son of George H. and brother of current President George W Bush, for his role in the Silverado Savings and Loan failure..

Now 20 years later with a Bush in the White House and McCain in the Senate we need a 700 billion dollar bailout or the “loans” will dry up and economy won’t function. Looks to me like our leadership is still corrupted and the American Taxpayer is still a victim of fraud, racketeering and conspiracy .

This is the truth and easily verifiable information. Looks like criminal fraud, racketeering and conspiracy again.

Time for Change? Stop the theft of the USA’s wealth, jobs and resources.
.
Why are you talking about Sarah Palin?


William C Jarvi   October 1st, 2008 3:35 am ET

The Financial Markets Bill has failed to pass in the House. Tonight the Senate will vote on the same bill. I believe the bill is to vague and fails to address the issue at hand: wallstreet and the investment firms.

Wall street says they need not be regulated. Wall street says let the markets work independent of oversight. The markets will be most efficient without government intervention. I think that implies wall street and the banking system should then fail, if that is the will of the market. High returns from high risk investments means potentially high losses. You gamble, you may lose. The rule of thumb of the prudent investor is do not invest more than you can afford to lose. Is this a continuation of Enron?

I will ask my Congressman and Senators to vote against any future bailout.
I believe there has been some inappropriate behavior by wall street to cause this crisis. I believe there has been some criminal behavior by wall street to cause this crisis. I believe the vagueness of the Financial Markets Bill demonstrates wall street is attempting to hold the U.S. public, its economy, and ultimately, the world, hostage.

I believe wall street has more to lose than Main Street America. Allow the markets to work without government intervention and allow the markets to be efficient as they will be.


Suzette Hart   October 1st, 2008 3:35 am ET

Thanks Larry for the truth....I watch CNN every time I have a chance...I have tried to watch the other stations but I know I dont get the truth...I see now why CNN is rated #1 over all the other stations...I want to hear the truth! know matter if its good or bad and thats what I get on CNN...As for Sarah Palin..I feel she is a good woman but not ready to be VP.. I think she should have waited and got some more knowledge about or Government befor she had excepted the VP position... I know other Christian women with her beliefs and work as CEO and so on but they dont have any Government knowledge to become VP and would not dare except a VP position like Sarah Palin........


James   October 1st, 2008 3:52 am ET

Larry I'm going to make this plan and simple You Need to Have AMERICAN PEOPLE on your show Not these Dumb a..es that only care about themself Lets hear From the people taxpayer That Well Not No matter what the out come is Bail Out These Robbers!!!! We as taxpayer from a broken system Of GOVERMENT have had all we can take..... Want to see another TEA PARTY just get ready!!!! "Im Mad as Hell and were not takeing it anymore!!!"


Stacy H   October 1st, 2008 4:00 am ET

I made a mistake please all of Congress vote against....!!!!!!! I saw Walstreet make a huge comeback!!!!!! Are they going to hold us hostage tomorrow and plunge????? Is this what we have come to??? Vote no we cannot be held hostage!!!!!! We are Americans!!!! I feel a tea party coming on!!!!!

Stacy H


terry badger   October 1st, 2008 4:17 am ET

my dad had kind of a funny idea, instead of spending $700 B. bailing out the greedy crooks on wall street, how about if the government gave every U.S. citizen $1 M. i think there is about 300 M. of us so that would be $300 B. imagine how this would be put back into our economy via many new small buissinesses many, many new college students and the support jobs that go with. now i'm not a brilliant financial wiz and i'm sure there are many things wrong with this idea and many reasons why it wouldnt work but it cant be any more stupid or ridiculus than the way the government is currently handling this situation.

terry

p.s. i think its more amusing too.


Bonnie Yu   October 1st, 2008 9:03 am ET

Bush cried wolf again. He’d done it during the Iraq Invasion. He again invoked urgency to approve a bailout plan against an imminent economic collapse. The surprising thing is, his adversary, the Democrats, seem to believe him. There are other ways to solve the crisis. Try creating an independent Think Tank to carefully thought out other alternatives. Don’t do things in haste because "you-know-who" said so.


T   October 7th, 2008 3:29 am ET

I'M BLIND TO THE SEEN....
YOUNG AS I AM.. LOOKING TO SAVE MY COUNTRY'S FUTURE
MIDDLE.. I LOOK FOR THE ANSWERS TO THIS CRISIS OF WORDS AND ECONOMIC FILURES OF THIS GREAT COUNTRY... THE WORLD LOOK'S ON.. AT US OR WHAT WE CAUSED...
THE OLDER I GET... BEING LISTED AS A WISE INDIVIDUAL... IS THERE ANY RETIREMENT FOUNDATION FOR ME NOW.... LOOK AT US REFERRRING TO THE UNITED STATES... WE MUST GROW, CORRECT, ALL FAULTS TO OUR ECONOMY AND INTER-STRUCTOR... IF THE THE LADY OF HOPE AND LIBERTY TOURCH WILL BURN WITH THE HEART OF AMERICA FLAMMING I'M ALIVE!!!!


Real talk   October 10th, 2008 5:47 pm ET

Putting Palin on the ticket was the worse thing George Bush (I mean McCain) could have done; she is not equipped to do the job. We all know that McCain is kind of old; and if anything were to happen to him while in office; how many Americans would feel safe having Palin as President. Not me that’s for sure.


Lisa, Las Vegas NV   March 4th, 2009 4:13 am ET

You know why the staunch Republicans are so angry with the budget and stimulus package? Because they have been stealing for so long and life was so easy, they feel entitled! They wouldn't know how to make an honest living. Now that President Obama is in office and is doing exactly what he said he would do. There is now transparency and the Republicans HATE IT! Joe Scarborough said this morning on his show that in five years all the rich people are going to be poor! There are governors that cater to not the poor of their state, but only to the rich.

Well, I have a solution. Since the rich republicans don't want the government to stimulate the economy, why don't they do it? Get off our high horse and stimulate the economy, because I don't know about you, but when I pay for something, I expect either the product or service in return. I pay taxes. Therefore, I want the government to do whatever it needs to do to get this country back on its feet.

A lesson for the Republicans. You need to stop getting on television and spewing lie after lie regarding either President Obama and his administration. Your energy will be better spent if you educate yourself on the facts. Oh by the way, the stock market IS a tracking poll. But only for those who have invested hundreds of thousands in the stock. It certainly hasn't been the working class.

MSM, why aren't you hounding Bernie Madoff like you are President Obama. President Obama did nothing wrong. Madoff stole $50 billion from innocent people and NOT ONE SINGLE news person or a Republican, for that matter, refuse to hold his feet to the fire. How about Rush Limpbaugh? How about holding this thief accountable. How many families has he destroyed and put in ruin? Call him a few names, Wish him to fail. Why not? You have shown nothing but doubt and disdain for the new president and his family (yes, his daughters hear all this negativity about their Dad) and wish him failure, rather than go after a KNOWN failure!!!! Unbelievable.


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