.
February 23rd, 2009
11:04 AM ET

Send us your questions on the economy!

Program Note: Make sure to tune in tonight to hear Ali Velshi and other economic experts answer your questions on AC360° at 10 p.m. ET.

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/02/23/t1.multiple_signs.jpg]

Ali Velshi
CNN Chief Business Correspondent

What is all of this talk about bank nationalization? Let's just change the word. It conjures up images of Castro forcefully seizing private businesses. That's not what this is.

Markets tanked on Friday because investors negatively interpreted the government's "nationalization" the banks.

But there's a big difference between the US government taking controlling stakes in US banks to recapitalize them, because no one else has the money or will to do so, and Hugo Chavez expropriating refineries owned by Exxon-Mobil to exclude private investors from profitability and to control a resource.

Free-marketers are spinning this quite unnecessarily and causing panic among investors. The government is able to access money more inexpensively than anyone else right now.

I don't think the government, or we, have any long term interest in owning banks. This is a short-term solution to inject money into banks so that they continue to be able to extend credit and keep the wheels of commerce in motion.

I'm not arguing in favor of or against it. It might just be easier if they call it something else.

What do you think?

And what other questions do you have on the economy? Send them to us and Ali Velshi and our other economic experts will give you answers tonight on AC360° at 10 p.m. ET.


Filed under: Ali Velshi • Economy • Finance • T1
soundoff (107 Responses)
  1. Luke in California

    When all of our troops over seas return home, what are they going to do to support their families financially?

    If Americans here can not get a job, let alone a good paying job, what hope exists for our troops when they return?

    If so many jobs are given to our returning troops, what hope exists for the already unemployed?

    February 24, 2009 at 2:19 am |
  2. Mark

    when has a stimulas work before and why did so much pork get into this bill. how much work will be produced? is obama whort our support?

    February 24, 2009 at 2:00 am |
  3. Tony from Vancouver

    Is it not a question of how hard it will all hit? Catastrophic debt levels at government level, plus high consumer debt, failed banking instituions. How bad is it really, will it overload and all come crumbling down? It appears that to fix the budget deficit, taxes will have to be dramatically increased, wars stopped whatever, and a long period of much less prosperity, maybe 20 years, before a real recovery can be established. Is this real gloom and doom or simply reality? And will the rest of the world follow or will a new economic order be established? Europe is getting old, but is considered more stable than North America Inc. Asia is not yet ready for taking any lead. 20 years seems logical doesn't it?

    February 24, 2009 at 1:56 am |
  4. Dave Harry

    I think the president should go after those people who make out rediculous money per year.At my job,I make 32000.00 yrly,and live in a family of three.GIVE ME A BREAK.

    February 24, 2009 at 1:42 am |
  5. DAVID L.GARRISON

    Whatever happened to the concepts of managed competition in healthcare? One of the foremost benefits would be reduction of duplication in management, i.e., highly paid executives devise management plans that are duplicative. Eliminate some plans and some executives at a huge savings.

    What about discouraging "shifting", which gives the appearance of reducing costs while merely shifting them to a hidden area?

    February 24, 2009 at 1:36 am |
  6. gabe williger

    Nobody seems to have noticed that the dramatic drop (roughly 70%) in the price of natural gas has resulted in extreme dislocations and job losses in the domestic oil and gas exploration industry with literally thousands of uniquely talented jobs lost on almost a daily basis. as drilling rigs are stacked by the hundreds. Within 6 months at current prices virtually all exploration and even development drilling will cease. The ripple effects are already formidable when you consider how many American made industrial products (steel, machine tools, engines, trucks, pumps and much more) are used by the oil and gas industry.
    We have 100 + years’ worth of domestic natural gas available.
    So why not get the Detroit Big Three to spend our money to convert the fleet partially to natural gas (which burns 90% cleaner than gasoline) and use a litle of the infrastructure money to add natural gas pumps to local gas stations and get us off imported oil all at the same time? This conversion is probably around $200/vehicle when done on a large scale. UPS, FedEx , local buses already are converted in many places.
    How dumb do you have to be not to see the benefits of this triple play? Or maybe you just have to be a Congressman.

    February 24, 2009 at 1:35 am |
  7. Dylan

    Oh and the mortgage bailout. Who will bail me out. I work hard and when times are tuff I will pick up 2 josbs even if that means delivering pizzas. So why can't these people who bit off more then they could chew get off their lazy butts and do the same. I will tell you why because Obama is going to save them.

    February 24, 2009 at 1:28 am |
  8. Ralph Patterson

    Why not raise minimum wage to $20 a hr? Cap the working hrs to 40 hrs a week per tax payer – cutting over-time – allowing more positions for individuals to obtain a job. This would allow more spending for the economy – the more people make, the more people spend.

    February 24, 2009 at 1:20 am |
  9. Mary Jo Grossman

    Have any of your commentators or investigators chosen to deepen their inquiry beyond the surface, and include a most important and overlooked perspective-integral psychology (ie, developmental psychology) and the way that we have yet to acknowledge that a person's worldview changes as they evolve ...and that the "flatland" approach that usually is presented is not representative of any one person, it represents a worldview (one of many) and excludes many

    Integral Institute, as well as all the developmental perspectives in all of the leaders of many disciplines and teachers of many world religions have a perspective of genuine value that is NEVER offered in the media soundbites.

    Ken Wilber, Thomas Keating, Suzanne Cook-Greuter, etc. Why do we never hear any of their perspectives on the so called "keeping them honest" view???

    How simple it is to compartmentalize what "keeping them honest " means, but real journalism would make the depth approach important, and insist on its being included-even if it doesn't fit in a sound bite.

    I suggest you get Ken Wilber to discuss "flatland" with you, and actually give him enough time to show you the shortcomings of the media when it comes to not caring about presenting the most depth for the greatest span.

    February 24, 2009 at 1:16 am |
  10. NY JEFF

    Regarding the nationalization of banks story, I don't think there is enough emphasis being reported that this would be a TEMPORARY takeover of the banks until markets 'settle out." This lack of reporting the "big picture" could be what's freaking the markets and the layman that knows nothing of economics out. It sounds like the beginnings of Socialism to them. If you guys gave some more historical background that explains that this is not the first time this has been done, it might help allay some fears.
    Also, for the life of me, I have never been able to comprehend why in times of economic desparation, this country doesn't cut back on giving and loaning money to other countries. I'm not even saying cut them off completely....jusy scale back a little at a time.
    I think its just a bad habit left over from the Cold War, when we felt we had to buy democracy from other countries so they wouldn't side with the Communists.

    February 24, 2009 at 1:03 am |
  11. C.J. Oakwood

    I am amazed through all this economic meltdown no one has mentioned agriculture in the US. Does anybody think our food supply is not going to be affected? Some folks think we can import all our food.....that is working so well with oil and energy! The people in this country will go hungry in far greater numbers than we can imagine. The best investment you can make now is buying a small acreage in the country, if you want to be able to grow part or all of your food supply. Agriculture and Timber land is going to get in short and high demand. Buy it now, you do not have to build a home on it in the near term, but be ready when the cities and suburbs go to hell! Stop and think about it. I can help you with your country land purchases.

    February 24, 2009 at 12:02 am |
  12. Ron Wacker

    We hear so much about the impact of lack of confidence and fear on our economy. One thing that I think would instantly spark a resurgence of confidence in our monetary system and our government is if we would begin to see something significant happening in terms of bringing the cheaters in the system (i.e. Bernie Madoff) to justice. Some of our faith would definitely be restored. What are the chances this will ever happen?

    February 23, 2009 at 11:56 pm |
  13. braiden

    What will happen for kids who will be affected by this in a year when they turn 18? Is it not worried about? I see whats happening and wonder what i will face when it will effect me more. Theres no jobs, and the ones that are available are usually more of a profession. Just a thought, respond if you can. and CNN is the best, keeps everything honest and doesnt sound so

    February 23, 2009 at 11:50 pm |
  14. mary creamer

    CNN get a clue. The problem with the market is not Obama or the administration. or uncertainty about how to fix this mess (if there is a fix that will work) The Ameican people have no faith in Wall Street. American business has raped this country and they have been handsomly rewarded for their actions . ( Millions in bonuses for ruining our country) Until people go to jail and are forced to return the money they stole(bonuses), the markets will not recover. Its not the delay in a plan to fix this mess but the greed that created it that has damaged our marklets. It will take a long long time to regain any confidence. Maybe some bankers could come on your show and apologize to the American tax payer .While your at it see if George Bush and Paulson are available too. That would be a start. The one good thing about this crisis is that it will force change in our institutions including the Media.

    February 23, 2009 at 11:48 pm |
  15. Corey (New York)

    Time to call a spade a spade. The banks – Citi, Bank of America and Wells (less so) – are woefully undercapitalized given the state of the "assets" on their books (ie. residential mortgages). The solution to this malaise is an orderly break up: sell/spin off the good pieces, ring fence the "toxic" assets and move on. Call it nationalization, receivership or some other pejorative term, but let’s get it done. I'm tired of the rhetoric about the banks bringing the markets down. If Citi and BofA went to zero (which is what they are effectively worth), the market would only go down by approximately 200 points.

    February 23, 2009 at 11:47 pm |
  16. Casey

    My Question is on cigareettes... if they are so dangerous, it hurts people, babys, economy, why are the still legal? They cause cancer, premature birth, and they kill people, so why are they still on the market. They show be illegal, just like maijuanana, meth, cokaine, ect. Why aren't they illegal? people die because of them just like hard drugs, so why? If you can answer that please feel free to tell me, because I don't know... Thank You for your time, and patience.

    Sincerely,
    Casey 17

    February 23, 2009 at 11:41 pm |
  17. Saundra Waecker

    I believe the stock market is reacting to the knowledge that we are taking a free market and over night turning it into a Government run socialist economy, they dont like it and neither do I. This is no longer Bush's recession, every time Obama, or someone from the administration, or congress speaks about another bailout and deficite spending the stock market tanks. Either this is what Obama has planned, the end of our economy , or he wont let anything slow down his predetermined agenda. The left wing masses may be happy with Obama 's Stimulus pork barrel spending, but the stock market isnt, and the average play by the rules taxpayer like myself and my husband arent either.

    February 23, 2009 at 11:37 pm |
  18. Michael McDaniel

    Can't wait for my extra $13.00 per week from the stimulus! I have seen a loss of income in the Auto Sales Business of over $40,000.00 per year. I'm working through it. I have the right to move on.

    Question. Is this $13.00 per week tax reduction that I will get now going to be removed from my tax liability at the end of the year?

    I would like to refuse the deferral if I can.

    February 23, 2009 at 11:18 pm |
  19. Lee

    Today I heard an economist on NPR promoting the idea of giving banks "vouchers" as part of the stimulus package for the banks, keeping them accountable by getting vouchers that they can only gain access to as the result of issuing a loan, so that the banks can't give the money in bonuses or salaries, or save the money for later. It sounded like an interesting idea to me. I can see giving them some money for operating costs, but limiting it and making money available for loans through vouchers only after a loan has been approved. I would like to know if your panelists know more about this kind of thinking and if they could comment on it as an idea?

    February 23, 2009 at 11:18 pm |
  20. Wendel from Ohio

    President Obama and the Democrats are using the economy to push their agenda. Propaganda is alive and well in this country. Economies come and go so we will just rebuild as usual.

    February 23, 2009 at 10:04 pm |
  21. linda

    Let's keep it simple folks. Until the SEC repeals it's short selling rules, (ie. shorting only on an uptick) institutions will short the banks to zero and create more panic selling. This in turn will give rise to further
    perceptions that banks cannot and will never recover. Shame on you,
    SEC, just more pain for the little guy already knee deep in 401K losses.

    February 23, 2009 at 9:51 pm |
  22. jo ann rudd

    why not allow people to withdraw their IRA, SEP, 401k, pension, profitsharing money tax free and penalty free to be used to buy homes, american cars and other durable goods. let the private sector get this economy going with private sector money. There are trillion of dollars in these accounts and could actually make a difference. Maybe this is just too easy for our elected official to see.

    February 23, 2009 at 9:51 pm |
  23. Jimmy Sauls

    I have a problem with all the Americans being with out Jobs! I called the Capital one Bank to find out some information on a credit card I have for my Business, The person I had to deal with could not hardly talk English and was very very rude in everything he had to say, Why should we have to tolarate this when all of our people in the United States are suffering without Job's, These people that I have to deal with are just Idiots and this is not the first time I have had to do this with these so called Idiots. Its just a shame that all these banks want all this money but dont support our United States and hire cheap labor. I'm Sure this want be brought up on your show but is a shame that these banks get by with this!!!!!!!! I have sent many e-mails to Capital one Bank and do you think they ever respond to our complaints NO!!!!!!!!!!! I have been in Business for over 21 years and If I treated my Customers this way would I still be in Business, NO!!!!!!!!!!!!!!!! Thank you for your time ,I sure hope you would make this E-mail where the people can be aware of this as I'm sure they have the same Problem, We are Americans and proud of it, Thats why we have freedom of Speech. Anderson, I watch your show every nite its the most interesting and I learn more everyday watching your program Thank you, Jimmy Sauls

    February 23, 2009 at 9:42 pm |
  24. B. Ricker

    I am amazed that the banks have learned nothing from the sub-prime mortgage mess. I just submitted the mortgage application to a bank on an investment property, a duplex home. Even though I now must put up 20% down payment rather than a lower percentage, and a slightly higher interest rate for investment property, the appraisal report on the property was still a fraud and the bank readily accepts it. The bank informs the "independent appraiser" of the complete terms of the loan, and he/she accesses the market condition against the loan, not independently of the loan terms. Because of this, the appraiser of the property is biased and if they wish to remain on the authorized bank list of appraisers, they will come in at least slightly above the loan value. The appraiser on the investment property I am buying did not even go inside the property for his appraisal and the bank fully accepted his report with no question. I am so amazed the neither the bank nor the underwriter has no set standards for appraisals. I don't know that anyone has learned anything in this ecomonic crisis.

    February 23, 2009 at 9:37 pm |
  25. francisco siqueiros

    Hello Mr. Anderson and Mr. Ali
    Thanks for letting me write a comment about this bank nationalization. and say that it is not a good idea... Banks are not a good business .it happened in mexico a few years ago and we all paid a lot of money and nothing really happened. to the economy . it never improved and after a few years the goverment decided to sell them again. Why ?
    Because they are not rentable. and no one seems to control them.
    I think it will be a better idea to let them be responsible for what they have done and instead of giving them millions and millions of dollars, let them on they own, put a lot of contol on them, I mean tough regulations and buy debt. private debt..
    That way the money goes to the credit and it will have to be paid.
    we can work on a reasonable interest rate and the goverment pays and recovers for sure .. no doubt. we will have to pay this money back or be in trouble..
    sounds like a good idea ?

    February 23, 2009 at 9:36 pm |
  26. jane MI

    i totally agree with lilbeth and judy

    hope that they would strongly consider to reward non-delinquent
    homeowners to be able to get a reduction of a fixed rate to a
    4% 30yr loan. that would free up extra money to be able to be used to
    stimulate the economy or even help with the rising health care costs or
    even help with being proactive in case their circumstances change like
    many others...why wait to modify loans until you default

    February 23, 2009 at 9:33 pm |
  27. Jasmine-Spokane,WA

    I heard a report saying that three states out of the union are rejecting a portion of the bailout money that would be given to those states. Their claims are that the money would run out too quickly and then they would have to resort to lay-offs. I don't understand why these governors would take this kind of action, isn't not accepting any portion of the bailout money just as bad as saying, "we don't care about you?" Also, how can one say that if the money will run out too quickly, then accept a SMALLER amount than other states? Is this just for publicity, to stand up against the bailout or are these governors really that dense?

    February 23, 2009 at 9:31 pm |
  28. Joanne Pacicca, Solvay, NY

    My thoughts on the economy,

    The financial managers make from 2% to 4% on the total amount of our investment instruments. Even when we lose they make a great living. The advice to hang in there, it will all come back benefits those who take "their cut". However, I have lost 55% of my 20 years of retirement savings. Where is the bailout for the responsible, no mortgage, no credit card debt, American?

    February 23, 2009 at 9:22 pm |
  29. Doug

    What has to happen in the banks to get private investors to put their money in? Right now, the banks are on the hook to the Gov't for billions...for they have billions of dollars in bad investment liabilities; the CEOs grab bonuses anytime they can; and the Share Holders just lose money. Its the climate that created this mess that makes it such a bad investment.

    When they talk about 'nationalizing' the banks, the question comes up: Could the Gov't do better?" I think it should be: Could the Gov't do any worse?

    February 23, 2009 at 9:18 pm |
  30. Phil

    Why is everyone asking how is the country gonna help me , instead off saying here's an extra few dollars to help with the deficit. We need to do more for our country. Our soldiers do it with thier live's we need to do it with our pocketbooks.

    February 23, 2009 at 9:17 pm |
  31. Timothy Chui

    Do you guys believe the banking crisis is the World War III? All happening to the mega banks just do not make sense to me. The only one wants the US bank drop is UK.

    Wake up American, I am shame to be a new American Citizen. Whoever agreed on nationalization is just supporting UK or others who are attacking our country through banking system.

    -new us citizen.

    February 23, 2009 at 9:12 pm |
  32. Nathan IL

    All this talk about the housing plan is great. What about people who don't fit the criteria exactly but still need help. Our primary residence was in FL until I lost my job last fall. I was very lucky to find another job right away but we couldn't sell our home for what was owed. We had to move out of state for the new job.

    We have been trying to contact our lender since last fall knowing that we couldn't afford our mortgage in FL and living expenses at our new location in IL. The lender is has been next to impossible to contact. With all these new people qualifying for the housing plan how are lenders going to be accessible for people to contact. I call our lender everyday from work and sit on hold for hours just to get someone on the phone who transfers me to loss mitigation where I leave a message. I never get a return call back.

    How are people suppose to get ahold of their lenders?? They say the earlier on that you call the more options may be available. That couldn't be farther from the truth.

    WIth all these people out of jobs, why aren't the banks forced to hire more people to help this surge of callers from people who need help?

    February 23, 2009 at 9:05 pm |
  33. Dottie Rich

    I am one of those responsible americans that is not feeling the benefit of being responsible...I am not in foreclosure, I am not in debt, I have not received any bailout money, I have seen my investment account drop dramatically, I have seen my house value decrease dramatically...I live in Florida and my house has been for sale for 18 months, and I'm unemployed...plus I'm a single mother of 3 and live on a fixed alimony...my idea...how about if the government rewards those responsible with a stimulus check toward a new american automobile?

    We'd all love a new car, it would help the automakers, give everyone a choice, and people could use the savings to pay toward their mortgages or save from increasing their debt or have more money to spend...thus really stimulating the economy and giving the responsible tax payers a choice...and hopefully my house will sell instead of losing value.

    Quit giving my tax dollars to the greedy and irresponsible people that got into this mess to begin with.

    February 23, 2009 at 9:02 pm |
  34. Judy of OHIO

    Okay, I'll ask a question. When is the trickle-down money going to rain on the middle class? I believe that was Reagan's weather report but I swear, I haven't felt a drop of money!

    February 23, 2009 at 8:53 pm |
  35. Serge AD

    preach on Lilibeth. You so got my vote for a 4% intrest rate on mortgages that reward people who pay their mortgage bill on time.

    February 23, 2009 at 8:48 pm |
  36. Gloria Handley

    Anderson: Does the "keeping them honest" tagline only apply to issues that draw the most advertising dollars or issues that really speak to the heart of ALL Americans? I ask this question because no national media outlet is giving any "Top Billing," to include a serious discussion, on the "shooting of the monkey" carton. In my opinion, Eric Holder was right. We are "a nation of cowards." Why hasn't the national media interviewed any of the white many members of congress to get their views on the carton? I'll tell you why. Advertising dollars pay the media's bills and it would offend a of lot advertisers if your, or any of your competitors, asked let's say John McCain or Sarah Palin their views on the carton. You see if McCain or Palin said the carton was racially offensive, they would upset a lot of their base, which in-turn would upset a lot of your advertisers. So, like cowards, they, along with all the other white politicans and the media, decide to say nothing and hope it goes away.

    February 23, 2009 at 8:44 pm |
  37. nancy

    Anderson,
    First I hear that because I pay my mortgage on time, I need to "bail out my neighbor" to keep them out of forclosure. And I should do this because it will increase the value of my home 6-9%. Great, only 21% more to bring it back to the value it was 2 years ago. Is there anyone else they want me to give my remaining cash to?

    February 23, 2009 at 8:44 pm |
  38. kalyn - Missouri

    I understand that both the housing,& the credit crisis needs to be fixed .My problem is I don't trust the Govt to make the right decisions. If the taxpayers are picking up the tab for all this so called stimulus, then why can't the Govt cut everyone a Big check with the condition that they use it to pay down their own debt? ??
    It does not seem fair to me that some people who are close to or in foreclouse get assistance and the rest of us don't..
    Secondly, Companies are cutting back on raises, bonus's for the average worker but the cost of everything is going up so how long before more people cannot afford to live? we can't even get a cost of living raise anymore!!! As it is we can't get loans for homes, credit cards, automobiles or anything else..
    It seems to me it would be cheaper to give everyone a big check & move on!!

    February 23, 2009 at 8:43 pm |
  39. Serge AD

    MY THOUGHTS ON THE ECONOMY:

    I just have one question for the white house. Why are you punishing me? I bought a home in Sept 2008. Why do I have to pay back the $7500 tax credit, and '09 taxpayers get more money and they don't have to pay it back? Am I not worthy of a tax credit that's equal and fair. Can I not spend the payments on something else that stimulates the economy or spend it on the cost of my education. I know in Sept '08 I was doing alot better then i am today 02/23/09.

    February 23, 2009 at 8:40 pm |
  40. MAC

    Who should we go for help? Middle class people who have a job but barely surviving. Banks are getting all the money but are also exploiting. Banks (credit cards) are checking the credit scores on their own and increasing rates without prior consent etc. Basically they are trying to push people over the edge. Is there any one who can stop them or check what rules are they creating to suit themselves?

    If they had not taken our money and as per the capitalist system would have been justified. Let the weak die and you will have issue/crisis free system

    February 23, 2009 at 8:33 pm |
  41. Tony Stathis

    The biggest problem for the economy is the media, they know that they discourage the ppl from spending money and they still do that ,they must like to see ppl suffering, in my experience in business is that in any recession we went through before with lots of ppl out of work it doesn't effect us a lot 10 or 15 % , this time, the problem is the ppl they do have money they are scared to spent ,and the business went down between 30 to 70 % that's why we got in to that mess .
    thanks for the time no offence with the media

    February 23, 2009 at 8:29 pm |
  42. Judy of OHIO

    One more thought.
    If a person is caught robbing a bank they are sent to jail.
    Why were bankers given money after robbing the middle class?
    Why are bankers allowed to loan OUR money back to US, with interest?
    Does this seem illegal to anyone else?

    February 23, 2009 at 8:28 pm |
  43. Judy of OHIO

    Thia idea is not mine, but I believe it is the answer to the economy crisis. Give the bailout money to the middle class workers! The ones who lost their jobs, The ones whohave actually earned the money they were paid.
    The ones who have paid for the free ride CEOs.
    The ones who pay for unwarranted wars, started by another elitist who has never known a days work.
    The economy will be robust and thriving if the working middle class, is given back the tax money most wealthy people do not pay.

    February 23, 2009 at 8:08 pm |
  44. Nanette Sterling

    With President Obama promising to not give big breaks to the big corporations what will happen to all those with headquarters off shore to dodge taxes?

    February 23, 2009 at 8:02 pm |
  45. greg nc

    why are we letting the imagrants live here and not pay taxes or health care . they take our jobs and work for less and they dont get taxes taken out . when they go to the doctors they dont get a bill . why dont we do that for americans that need help or housing . . ther are imagrant working in hosp. where people that live here could be working that job . it wont be long till we all will be out of work . why dont imagrations come to NC .

    February 23, 2009 at 7:39 pm |
  46. Debbie CItrus Heights CA

    Hello Anderson and Ali. From what I can remember 3 major items occurred before the housing crash. Over a decade of job outsourcing and generalized job cuts, eventually without any more creation to replace them. Along with that, came salary stagnation. Vastly increased health costs and business in general constantly raising their prices on everything, from toilet paper on up. The third item was the outrageous gas prices. All of these for the most part were caused by Corporate greed, and in some cases smaller business groups also. Yet, the only thing that folks are saying caused the financial crisis is the housing crash. Again, triggered by greed, for the most part. Why have these other things not been included in the discussions? I also agree with Joy, most homeowners did not go out of their way to lie about their salaries to gain a bigger house they could not afford. The banks do not show a sliding scale of what the ARM interest rates can jump up to and the amounts. No, I'm not one of "those" people, I have a fixed rate of 5.50%, but I've had banks attempt to suck me in. There have also been 4 major arrests in my area alone of mortgage brokers altering loan agreements, including names, alterations of salaries, ect. Thanks for reading through this, and I also love watching AC360.

    February 23, 2009 at 7:32 pm |
  47. Judy of OHIO

    I agree with Lillibeth. Let home owers who paid 20 % down and have not missed a payment, refinance at a lower interest rate. For those of you who purchased your homes; the same way but now have no job, join me in asking the govenment to slpit the bailout money among the middle class.

    February 23, 2009 at 7:30 pm |
  48. Lissa in Houston

    Republican governors shouldn't take the road construction money in the stimulus package. They will have to pay to maintain the roads later, which will burden their taxpayers. Same with the school money or anything for hospitals or medical research – they shouldn't take it. Paying the salaries and benefits for the teachers and workers will be an endless burden on the states. They shouldn't do the tax cuts either. People will get used to making more and will expect to be helped out forever. Just like the unemployment funds they are refusing because they will have to be stopped later or paid for, they shouldn't take anything that will incur ANY expectation of further help or any possible future expense.

    February 23, 2009 at 7:17 pm |
  49. Isabel, Brazil

    Ali,

    If the nationalization of banks happen, how it will be?

    In Brazil we had two types of nationalization (here we call the "statization"). One where the government becomes the majority shareholder, but there is private capital and another that there is no further private participation.

    The mixed type, where there are government and private enterprise is more successful.

    Then, as would be the nationalization of banks in the US?

    February 23, 2009 at 7:12 pm |
  50. FIN-PROF

    Dear fellows:

    Last year the government misdiagnosed the problem and sent us $800-$1600 in order to boost the economy. This is the same if you an MD prescribed a pain killer for a CANCER. Later they found out the FIXED INCOME and MORGATGE business was like a cancer that is threatening our economy. So for the second time the GOV prescribed another wrong drug and gave away 400Billion to CEOs and banks from tax payers money in order to save tax payer from being unemployed! Now the government decided to use CHEMO, but you know what with CHEMO you stay home, you will fell stressed, powerless, tired and do not what is next........You made this cancer and we need to deal with it.

    February 23, 2009 at 7:03 pm |
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