.
March 2nd, 2009
07:55 AM ET

More bank failures

Anderson talks with CNN Chief Business Correspondent Ali Velshi about more bank failures and the shrinking economy.


Filed under: Ali Velshi • Bailout Turmoil • Economy • Finance
soundoff (7 Responses)
  1. Joanne Pacicca, Solvay, NY

    Sure, one of my co-workers suggested that the Feds give each taxpayer a credit card loaded with $50,000... and tell us to spend all of it in 30 days...that would boost the economy clear debt. We need not bail out the crooks that got us here with "wallets snapped shut"..in the first place!

    March 2, 2009 at 12:49 pm |
  2. Art

    Hi Ali, it seems to me we should be asking ourselves how much is enough? I just read aig needs more money. This has become ridiculous. My question is "when are people going to be held accountable for there actions and behavior?" Houston, we have a problem! Thanks for reading, Art

    March 2, 2009 at 12:48 pm |
  3. Mohammad Masud Alam

    BAN SHORT SELLING FOR FEW MONTHS TILL MARKET RECOVERS

    I DONT KNOW WHY ALL ADMINSTRATIONS WORLDWIDE ARE NOT STOPPING SHORT SELLING OF STOCKS

    NOW IS THE TIME TO STOP THE SPECULATORS TO DO MORE HARM TO THE WORLD ECONOMY

    STOP SHORT SELING FOR HEAVEN'S SAKE

    March 2, 2009 at 12:42 pm |
  4. Amal Guevin

    I see "The New American Revolution" as the American taxpayer slapping shut their wallets in order to regain a sense of control again in the face of this massive fiscal irresponsibility in Washington. Don't spend. Don't use or obtain credit. Don't buy anything other than absolute necessities. Money for a rainy day into the pillowcase.
    The American Taxpayer is the only cure for this economic disaster and $13 a paycheck is an insulting slap in the face in light of the billions going into the abyss of inept banks, AIG, etc. This idea is spreading and until the Dems get it that WE are the only cure nothing will help. $10,000 per taxpayer ( not people who do not contribute) instead of AIG and the economy will re-start.

    March 2, 2009 at 12:20 pm |
  5. Virginia Erndt

    In 1990 Japan establish a 100 years mortgage loan, can U.S. a 40 or 50 years purchase and refinance loan, with way many homes will be saved from foreclosure.

    Also, the U.S. government should think of a way for the US. citizen to buy individualy the stocks been sold to China for our economic recovery. Can it be done?

    March 2, 2009 at 12:17 pm |
  6. Joanne Pacicca, Solvay, NY

    Let's cut through the Republican rhetoric that makes no sense and look at the facts. Greenspan clearly stated that no one, and I emphasize ...no one including great economists, Federal Goverment Officials and the CEOs could have predicted that mortgages, marketed via legitimate means as AAA, would be junk.

    Let's stop the finger-pointing and put the blame where it should lay...on de-regulation and greed.

    March 2, 2009 at 12:09 pm |
  7. Mike M.

    These banks failed due to Democratic controls. Now its all Bush's fault. Funny.

    From 1999 NY times news report " Fannie Mae the nations largest underwriter of home mortgages has been under increasing pressure from the Clinton Administration (democrats) to expand mortgage loans among low and moderate income people. Comments from Fannie Mae's CEO "We expanded home ownership for millions by reducing down payments. There remain too many borrowers whose credit is a notch below what our underwriting has required and who have been relegated to paying significantly higher mortgages in the so called subprime market".

    Banks, Housing, and credit market caused this meltdown. It was led by the Clinton administrations charge. Once it was time to pay the piper on these mortgages it was the perfect storm.

    The democrats caused this not Bush. All the chants of "8 years of Bush" come from the uneducated. I guess we all agree on what caused this problem. BANK MELTDOWN. However, do your homework and speak intelligently about the problems and what really caused it. Its hard to look smart when chanting 8 years of Bush and no facts.

    In addition to the democratic push for these toxic mortgages the Democrats ran the house and senate the last two years of the Bush's 8.

    So the facts are the democrats pushed this strategy and then sat by when the last two years when meltdown started. What do the democrats have planned for us next. Lord help us.

    March 2, 2009 at 10:54 am |