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September 25th, 2008
09:45 PM ET
Live Blog from the Anchor Desk 9/25/08
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I agree with you B Chaplin. Why can't wall street bail them selves out? Maybe it is because they want tax payers money? mmmm, you think.
I want to know who these house republican's are so that I can actively campaign against them. How dare they affect our economy and play games with our future. This is unacceptable.
EJ: I heard that the companies that are going to be bailed out want the govt to take over ALL bad debt...not just the mortgages...but ALL their bad debt.
if the government wants to bail someone out, why don't they just wipe out the taxpayers bad credit and give us all a clean slate???? then we'd all be happy. Hell if they paid my debts and said " here's some money so you can start over and rebuild your credit" i'd grateful say " thank you Uncle Sam"
Is this a Republican ploy - Is the hesitation of the Republicans – so that John McCain can come back tomorrow and claim at the debate that he save the day ???
I am a democrat but I like that they are giving this bill a second look.
Also, what is key here now is that we actually do have "actionable intelligence" that should motivate us to action. Declare war on Wall Street, fight the greed that has made our country fat with ignorance, poverty, a crippled economy, etc. Its not the same as instantaneous death but the result can (in time) be the same. Poor people will be massivley hurt in all this. Heck, we've already left them out of the picture.
evening, bloggers! ali velshi – or as we call him, shank piston (thanks, palin name generator) - is sitting next to me. he says hello
I think the government should invest this money in these companies and take a share in them... refinance home morgages at lower rates so that people can stay in their homes... this will give our government more money coming in instead of money going straight to wall street.... Wall Street can be let go aand the government should become what they are not capable of being... if they were so greedy they would not be in this situation.
Why are they rushing to do this? They have an obligation to protect us! And at least explain what this means to us and our children, grandchildren, great grandchildren!
When did wisdom go out of style? Can we please bring it back America! This country is being run by hack lawmakers and hack CEOs who are after nothing but their own personal wealth and power. The little guy is getting fleeced over and over again....Have we learned nothing from the World War II generation who built this country following the great depression and 2 world wars?
Why not set up mechanism that will allow folks to refinance their home mortgages to today's current value with an affordable interest rate? I feel that most people would be able to afford the lower payment and keep their homes. The banks will have to take the lost for the lost equity due to declining home home values.
If this bailout happens there will be a whole new house and senate on November 4th. Every program I see has the pundits spewing what the American people want...they are as out of touch as those in Washington. NO ONE wants this...let wall street crash and the chips fall where they may. It won't effect the little guy anyway. Let's go back to the dark ages and start over!
I have a simple bail out plan – fire all the executives – take all of there assets to pay back money lost from there mistakes.
Why doesn't the gov't use the bail out package to buy distressed homeowners mortgages? That way the banks get the money and the homeowner can refinance the loan and the taxpayers may get some money back. Win/Win.
Another a poor decision by McCain. His political posturing made him look, once again, erratic and indecisive. I think this move has backfired just like his VP choice. He sure does know how to "shake things up". Too bad it's not working in his favor.
I do not think McCain hurt or helped. I think the senators and representatives are concerned more about their individual constituents than the presidential politics.
The house Republicans want to have private business buy out the businesses on wall street that are now in trouble wouldn't they become much larger businesses then. I thought that was the reason we had to bail out AIG because they were to big to let fail. Weren't we told at that time that we couldn't let a business get that big again?
Mike,
When you say Obama is campaigning, what do you mean? What is he doing that McCain is not? McCain's ads are still running, his surrogates have been on television, Palin is still out there. John McCain did not suspend anything. He is grandstanding.
It’s very scary for me to think that our financial future is now in the hands of a man who has lied to us every since he took office. This feels like strangely like the press conferences Bush called to discuss terrorism, how can we trust him again, especially since his priorities have always been with his rich oil buddy’s. I don’t think what you are seeing is extreme politics, but a lot of politicians who are feel like they are being rushed into another vote to go to war in Iraq, who can blame them for being scared? The sooner we get rid of Bush the better off we will all be, no matter who wins. I think I’m just like everyone else, sick to death of Bush politics and his ignorance. Please America, don’t fall for it again.
I must ask... do House Republican's have a good reason to believe that the bailout deal itself is detrimental? What do they know that we haven't heard? AC, what if it's not posturing? It's only been a few days – maybe they actually did the math and got a different answer.
Have we gotten it yet, with WAMU failure. we talk a global economy and can't see that we all are leveraged. the only hope is to kept capital fluid.
what are they doing in Washington! i dont blame obama for not being there everyone is running around like madmen. I cant wait to hear from a true leader, barack obama, tommarow night wether mccain is there or not.
If McCain can somehow take credit for any reversal-of-fortune concerning the status-quo, perhaps he can project an attractive "lone action-hero" image...after all, doesn't the name "McCain" just sound action-packed to you..? And yes, that was sarcasm.
What is with only paying out 1/3 to 1/2 at a time. I like that better then all the money up front. I am the financial conservative in the family, and I think that they should use a little caution.
b Chapin:
Chase paid 1.9 Billion not 310 billion. We could not even privately raise 90 billion for AIG how in the world could we raise 700 Billion for this mess!!
if John McCain does not want to go to the debate and the VP is to step in when the president cannot, why not let Sarah Palin step in and take his place in the debate, or let Joe Beiden and Sarah Palen debate tomorrow night. If the republicans do not feel she is ready to debate, than one has to ask whether she is truly ready to be the vice president?
I wish the hypocrisy would stop and these people get a dose of humanity laced with integrity. We the American people are being treated like feeder fish for these sharks. The Congress members line up for special perks from the very institutions they now profess to be repulsed by. Such hyprocrites.
Mike, Obama has always had a "call me if you need me" attitude; look at how many times he voted "present." He is just proving that he has no interest in or anyting to contribute to solving this crisis and his input is not needed.
Why are the dems and the media acting like it is a bad thing that this bill has been stalled? Thanks God it has been stalled!!!
I pray it NEVER goes through as do most Americans. Why would we trust Bush to rush anything through? Why is it that I only heard one time on the news that it is Bush who held up the meetings as he will not agree to caps on execx pay? Seems a lot of truth is being hidden to further the dems politival agenda!
One question... If McCain was sincere in his desire to be in Washington, then why didn't he mention it in the private conversation that he had with Obama just moments before he made a public announcement?
Is there going to be a run on the banks tomorrow? Are we going to go into a depression tomorrow? Or Monday?
Once and for all get it straight. Bill Clinton deregulated the banking system not Bush. I love to my problems on him too, but this is not the case.
Why aren't journalists allowed into these meetings? We have a right to know what is being discussed.
My WAMU CD expired today and I renewed it probably 1 hour before it collapsed...the agent on the other side answered the phone....Washington Mutual, HOw can I put a smile on your face........not knowing(i hope) that her bank was about to be seized by feds........and little did i know that i reinvested in a failed bank 1 hour before it went under ....UGGGGHHHHHH
Craig... if as previously stated the bailout in principle was agreed on before Sen. McCain arrived in WA and then shortly after Sen. McCain arrives on the scene and it all fall apart... there is a legitimate question to ask what happened between then and now.
I've heard many comments today from GOP friends about the emails that place Clinton as the blame for the mortgage failure. They say he constructed the Fannie Mae/Freddie Mac crisis. Don't believe the hype! If Clinton did start it, Bush made it worse by continuing the effort and not having the insight to do it right.
You know, I'm rather glad that no deal was finalized today in Washington. Two weeks ago, according to Sen McCain and the White House, the economy was fundamentally strong. Now, the economy has gone to hell in a handbasket. Congress needs to forget about going home tomorrow night and take as long as it takes to work out something meaningful that we can all live with. By the way, I haven't heard Secretary Paulson offering to return any of his millions he got as severance from Goldman Sachs.
I heard today that 100 billion of the bailout is actually the "bad loans" but the other 600 billion worth are not bad ? What? So the other 600 billion are some type of assurance that nothing happens to those assets?
Why does the government think that this solution is the best? The President of Georgia was on TV tonight and said his country rebounded from an economic crisis in 2 weeks, after they suspended most taxes. No $700bil Tax Bill shoved down his country's throat!
I don't see this as McCain "injecting himself in a crisis." This is the perfect test. Here is a crisis. Let the candidates show us how they'd handle this. They have some influence over their party and it could help speed up the negotiation.
Ok, I'm doing bills and writing out a check to Wamu for my mortage. This is freaky, so I guess I will be making these checks out to JP Morgan in the future..
These idiots in Washington need to explain to the American people in precise details what is included in the bailout and nobody is doing that. And why is there such a rush to get this done they should be taking their time on such important matters.
What if the $ 700 billion+ would be applied to alternative energy sources, piped perpetually into the grid system to reduce citizens' utility rates, think the general public would benefit more from this use this enormous spending?
What makes us think that the same people that originally got us into this mess are now smart enough to get us out of it? Ridiculous!!
I agree with Mike...and the people who have all the money are running scared.
Can we say WOW !! No wonder the financial people are messed up.
Who's the leader of the free world ?? Who's in charge here??
WOW !!!!
This was not a done deal. Over 55 percent of the American People as reported by CNN say only the rich Wall Street people will make money off this.
I think this is a shame; and as an independent, I begin to worry about John McCain. He seems so manipulative that I cannot see him helping all Americans. If I had to guess, he went to Washington just to further disagreement and show a separation from Bush and support Newt Gingrinch–wasn't he the Attack on America. So is that Mc Cain's mentor; hard to believe that anything could be worse than Bush but Gingrinch could be it. And Mc Cain seems unable to get over Obama not going to his town hall meetings. He sounds like a spoiled child who feels rebuked by Obama. So what will he do if he feels slighted by the head of some foreign country. This is getting scary!
I guess this proves that even though the democrats have majority seat in both congress and senate that they still cant get things done because the republicans still have a good amount of seats. So the blame that dems had two years to fix the mess is out the windows if the republicans are unwilling to work with the dems