First thoughts: Rage against the machine

Fire da Bums. Everyone of them. — Mon, 16 Mar 2009 13:26:06 GMT

How can Congress be so mad at AIG giving out bonuses to executives that should be fired??

We have not fired Barney Frank? Or any other paid Congressional executive that failed in thier watchdog duties. Many like Frank openly supported the robbery of our financial system. And benifited from it. And are still in the same position of power and control.

Fire all the bums.
Send Barney Frank to a Elmer Fudd look alike contest. Maybe Elmira Fudd...

First thoughts: Rage against the machine

Roy Crown, KC Kansas — Mon, 16 Mar 2009 13:26:11 GMT

What's happening to America? We get our news from idiots like Jon Stewart, and we get our financial advise from screamers like Jim Cramer.

First thoughts: Rage against the machine

OB Taylor, NC — Mon, 16 Mar 2009 13:31:49 GMT

Ah yes, the populist backlash. Obama lives by it, now he will die (politically) by it. Being a populist lets you be a victim, a ranter, someone that constanctly complains about things. But now that same populism turns on Obama, and the country. It is imperative to the country that the banks and AIG survive. All the ranting being done over the bonuses is about less then 1/100th of 1% of the bailout money. But now that bonus money will dictate how we proceed with the restructuring of the banks.

Obama has made his bed, now he's got to lie in it.

First thoughts: Rage against the machine

Brian Crooks, Naperville, IL — Mon, 16 Mar 2009 13:32:09 GMT

You can call it playing semantics, and maybe it is, but there's a difference between "fundamentally sound" and "fundamentally strong." To me, "fundamentally sound" means that we're not in risk of needing wheelbarrows of cash to buy a loaf of bread, or needing to establish soup lines in every neighborhood. Yes, the economy is fundamentally sound. It's not on the verge of total collapse. "Fundamentally strong" to me is more like the economy is growing and making positive gains. It's a subtle distinction, but not without difference.

With regard to the GOP not offering a counter-proposal, they've walked directly into a trap. To rail against ANYTHING right now without a well thought out counter makes them look exactly like the party of no. This is actually worse than when they offered a counter-proposal to the stimulus that was based 100% on tax cuts. This is bad bad bad for them.

First thoughts: Rage against the machine

cindy, Las Vegas, Nv — Mon, 16 Mar 2009 13:33:58 GMT

MSNBC guys - sounds like your trying to start crap re Romer. Sometimes you guys sound like the National Enquirer! lol!

First thoughts: Rage against the machine

Rented Mule — Mon, 16 Mar 2009 13:34:33 GMT

The Obama administration needs to do better then putting Christina Romer on MTP. Talk about getting a beat down by Gregory. And she had that nervous laugh all through the interview. What an embarrassment to have to watch her him-and-haw through that show.

First thoughts: Rage against the machine

Scott, NYC, NY — Mon, 16 Mar 2009 13:35:25 GMT

Wow! All those news bits and not one mention of the NYT article about Obama wanting to tax health care benefits?! Didn't Obama blast McCain for doing the same thing? However, under McCain's plan we would be at least getting a rebate check for a chance to find other plans in the open market. Another way for Obama to find revenue while keeping his promise of not raising income taxes for those making less than 250K. Let's just tax everything else!

First thoughts: Rage against the machine

Ron Indiana — Mon, 16 Mar 2009 13:35:41 GMT

Pat Boston Ma loves her baseball, Hoosiers love their basketball. Indiana University will have a two year rebuilding before we go to the "Big Dance". But Purdue and Butler will represent us Hoosiers.

Last night I really enjoyed the interview on 60 minutes with Ben Bernanke. Initially I was outraged he gave a big chunk of money to banks during the Bush 43 administration. But on 60 minutes he explained himself well and...well you gotta believe somebody sometime...and I think he will do his part to get us out of this recession by early 2010. I also enjoyed the quality of the interview. Shuster, Matthews, Gregory could learn a lot if they watched 60 minutes and Rachel Maddow. Develop some baseline questions, then ask what the American people want to know. Gottcha questions are for amateurs.

Minnesota: The three judge ruling will be in favor of Franken. What Coleman was not able to prove was that he would have won if more votes were counted. The judges know they are on a time watch...but they have to show they deliberated in a reasonable time.

First thoughts: Rage against the machine

Union Jack — Mon, 16 Mar 2009 13:37:35 GMT

FR: In fact, if there was a time for the Obama administration and Democrats to push to let the Bush tax cuts to expire, to press for the Employee Free Choice Act (or “card check”), or to institute new regulations, this is the time, right?

Sure, go ahead. Let us know how all that works out for the Democrats. Lets tax every business we don't like to death and allow the workers to be pressured into unionizing. What could go wrong with that scenario, other then unemployment going to 20% that is.

First thoughts: Rage against the machine

jesse St.Paul Minnesota — Mon, 16 Mar 2009 13:40:22 GMT

What,,,,,, the republicans don't have a plan to help clean up there mess.The party of no is stuck on stupid,that may help with the base but for the those not educated in the south, this means that you can't come up with anything you would change from the last admin.Hay 25% of the country is with ya,Rush, is your party leader,and you party has become the party of,well nothing!

First thoughts: Rage against the machine

K. Morris, Lindberg, Wa — Mon, 16 Mar 2009 13:41:16 GMT

"The fundamentals of the economy are sound" - didn't Bush get nailed by Obama and the press for that comment? Now Obama is using it. What happened to that Great Depression Obama was predicting not more then 4 weeks ago if we didn't pass his trillion dollar stimulus package? Dime one of that trillion has yet to be spent, so that hasn't changed anything in the economy. So which is it? Is the economy sound, or are we heading to another depression?

First thoughts: Rage against the machine

MSierra, SF — Mon, 16 Mar 2009 13:42:56 GMT

According to Tom Toles, the difference between Bernie Madoff and everyone on Wall Street is that Bernie at least ADMITS he’s a CROOK

Bernie’s actual crime:
He stole from Rich People

If he stolen from Poor People,
he’d be the Chairman of the RNC right now

Why NOT limit credit card interest rates to 15%
Is there ANY RATIONAL argument against this ?

From the LA Times:

‘...Bill would limit loan, credit card rates
David Lazarus
March 15, 2009

Since the beginning of the year, millions of credit card customers have been hit with higher interest rates -- in many cases from lenders that have received billions of dollars in bailout cash from taxpayers.

Sen. Bernie Sanders, a Vermont independent, responded last week with legislation that would impose a 15% cap on rates for all consumer loans, including plastic.

That's because Sanders' bill would trump a 1978 Supreme Court ruling that allowed banks to set credit card rates at whatever their home state allowed. Banks, in turn, high-tailed it to places like South Dakota and Delaware, which abandoned their usury laws to entice financial institutions into setting up shop.

"Every state would have to honor a federal rate cap of 15%," Sanders told me. "It would be a national usury law."

He called after reading columns in which I detailed how Capital One Financial Corp. is raising many cardholders' rates to nearly 18% -- even for people who pay their bills on time and haven't missed any payments.

Meanwhile, Citigroup Inc. has told cardholders their rates could soar to almost 30% if a single payment is missed, and JPMorgan Chase & Co. said it would start charging a $10 monthly fee to those who have carried large balances for more than a couple of years.

Bank of America Corp., Wells Fargo & Co. and American Express Co. are among other major lenders that have notified customers recently of rate increases.

"Everyone has been focusing on the subprime mortgage mess," Sanders said. "I think it's time to focus on these absurd interest rates as well."

Credit card defaults are rising and could hit a record 10% this year. One reason is that so many people got much deeper into debt than they should have.

Another is card issuers keep turning the screws on existing customers -- those with balances they can't just walk away from -- in hopes of raising cash to cover the industry's bad bets in the housing market.

Sanders noted that federally chartered credit unions were limited for years to charging no more than 15% on loans. The National Credit Union Administration raised that cap to 18% in 1987.

"If a rate cap has worked for credit unions all these years, it could work for our friends in the financial industry as well," Sanders said.

Chris Collver, legislative and regulatory analyst for the California Credit Union League, agreed that a rate cap hasn't hurt business for the nearly 400 credit unions represented by his organization.

"It hasn't been an issue," he said. "Credit unions are still able to thrive."

I pointed out to Sanders, who spent more than a decade on the House Financial Services Committee before joining the Senate in 2006, that the banking industry would throw every lobbyist at its disposal toward fighting his bill.

"Obviously this is a pretty radical act, and it will be fought," he replied. "But I think the American people are disgusted with the financial industry. They want change."

You could argue that an interest rate of 15% or 18% is more than enough to accommodate any amount of risk on the lender's part. If a loan appears riskier than that, don't make it.

"What we have to ask as a nation is whether it's ethical to charge people 30% interest rates," Sanders said. "This is loan sharking. Let's call it what it is."...’

First thoughts: Rage against the machine

Obama, One and Done/Atlanta — Mon, 16 Mar 2009 13:43:41 GMT

The fundamentals of the economy are strong.........(but I ridiculed McCain for saying the same)

I will not raise taxes on 95% of Americans... (But I will raise taxes on the majority of Americans that receive health insurance through their employers).

Flip flop, flip flop. When will Obama stop?

First thoughts: Rage against the machine

Brian, Cedar Hill, TX — Mon, 16 Mar 2009 13:44:06 GMT

As an 80% shareholder in AIG, I don't recall my shareholder or proxy vote being requested to approve these bonus payments. We should all demand our funds be returned. If not, then the IRS should declare that these funds where an illegal distribution, and tax them at 100% plus penalty fees. Oh yes, the government surely can get this money back and then some. We as taxpayers (and now investors) in these firms need to demand that our irresponsibly used funds be returned, with interest. It's TOTAL BS that the government's hands are tied in this - ABSOLUTELY BS. They'd get it from us from a simple mistake on our tax form - don't tell me they can't do this.

First thoughts: Rage against the machine

J. Ellis, Virginia — Mon, 16 Mar 2009 13:44:11 GMT

Fundamental Comments: The most obvious difference in what Ms. Romer said on MTP and what John McCain said back in Sept. is that everybody knew that McCain didn't have a clue about the economy or anything else that mattered to the electorate. Sen. McCain simply had no credibility, fueled by his own admission that he had no knowledge of the economy. The fact that McCain wore $500 Italian shoes, didn't know how many houses he owned, and his wife's monthly credit card expenditures would support a small town, didn't help his case any at all.

Ms. Romer made it clear that the fundamentals she was referring to concerned the American people and the resources available to the US to overcome the obstacles ahead.

First thoughts: Rage against the machine

AIG - A Useful Distraction — Mon, 16 Mar 2009 13:44:17 GMT

Scott NYC - Wow! All those news bits and not one mention of the NYT article about Obama wanting to tax health care benefits?!

Yeeees! The elephant in the room, and it's not a Republican elephant either. Lets distract everyone with the piddly bonuses being given out by AIG, and not talk about the new trillion dollar tax where Obama wants to tax health care benefits.

First thoughts: Rage against the machine

BJ, CA — Mon, 16 Mar 2009 13:45:00 GMT

If the Government won't tell the people how to bring down AIG than the GOVERNMENT has failed to serve it's employers...THE PEOPLE...Do it quickly and completely.

That's change WE can believe in...

ALSO
Bailed out company bonuses should to taxed 100% to those that receive them...so they are worthless..

First thoughts: Rage against the machine

Dan Coates, St. Louis — Mon, 16 Mar 2009 13:47:34 GMT

First Read: Just asking: when was the last time a sitting president did the "Tonight Show"?

All the other Presidents had more dignity then to go on the Laughing Hyena circuit.

First thoughts: Rage against the machine

RichardinDelmar — Mon, 16 Mar 2009 13:47:38 GMT

Stay with AIG. They did not understand that resports and spas are out. They do not understand that losses preclude bonuses. They might have agreements that guarantee bonuses but I doubt they have contracts that preclude firing them. Close that part of AIG down by ridding it of all the loss makers. Then no salary nor bonus and a savings to tax payers.

To the person who wants Frank and other congress people fired. That is up to their constituints, right?

Come on Brian, do you really expect our media to understand such semantics differences, much less many of the bloggers here. lol

First thoughts: Rage against the machine

MSierra, SF — Mon, 16 Mar 2009 13:47:50 GMT

Will the Obama Administration BREAK UP AIG ??

What is the POINT of saving a dinosaur that's TOO BIG TO FAIL ?

Break it up into 4 or 5 smaller corporations, any one of which would not threatened the economy if it failed

Otherwise, we'll be on the hook for a corporation that gives bonuses to executives that BANKRUPT the Company !!

Break up AIG, BofA, JPMorganChase....

We HELPED BofA to buy up a Wall Street firm, Merrill Lynch !!!!

WHY ??

Break up the Banking Monopolies

First thoughts: Rage against the machine

E. McMahon, Burbank CA — Mon, 16 Mar 2009 13:50:15 GMT

Obama is just emulating his hero, Abraham Lincoln, who was the first President to go on the Tonight Show.

First thoughts: Rage against the machine

Brian Crooks, Naperville, IL — Mon, 16 Mar 2009 13:50:24 GMT

Union Jack: how can anyone be pressured into unionizing? Are the unions going to fire them if they don't comply? Oh wait, they have NO power if the place isn't a union shop. I hear this argument all the time but never a justification. The unions can't come in with bats and clubs because if they did, the company would call the police and end their whole world. Bogus argument.

First thoughts: Rage against the machine

tom tyskiewicz, forest hills, pa — Mon, 16 Mar 2009 13:51:02 GMT

YOU CANNOT FAIRLY OBAMA FOR THIS HUGE FINANCIAL MESS! BUT THE G.O.P. & WALL STREET BASTARDS SHOULD BE SENT TO THE GUILLOTINE. THESE ECONOMIC WIZARDS COULD BE REPLACED BY ANYONE FLIPPING A COIN AND HAVING BETTER CHANCES OF SUCCESS. AMERICA WILL NOT HEAL UNTIL THE BASTARDS ARE DEAD OR IN JAIL.

First thoughts: Rage against the machine

MSierra, SF — Mon, 16 Mar 2009 13:51:16 GMT

Fire da Bums. Everyone of them:: '...We have not fired Barney Frank? Or any other paid Congressional executive that failed in thier watchdog duties...'

NO DICE !!

That was under the BUSH ADMIN'S WATCH
The Bush Admin was RESPONSIBLE !!

Bush/Cheney protected the banks as well as the Oil companies and Halliburton

BUSH IS RESPONSIBLE !!

He appointed the Sec Treasury, SEC and all the Regulators !!

First thoughts: Rage against the machine

Houston — Mon, 16 Mar 2009 13:52:18 GMT

FR: Romer gave a McCain-like answer, circa Sept. '08: “Well, of course the fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology.“
-----------------------------------------------

But that was what McCain said after he back-peddled from his first statement that the fundamentals were strong, PERIOD. That was certainly not the untrue.

It's obvious that the corporate media are eager to catch President Obama back-peddling and flip-flopping as much as McCain did during the campaign, but Montanero and the other media types are really stretching the truth to do it.

First thoughts: Rage against the machine

benvictor, virginia — Mon, 16 Mar 2009 13:53:16 GMT

Say what? Enough with this rage; performance results are what Americans expect. Suggest you focus on any progress you can find, for accountability (for results) is the watch word.

First thoughts: Rage against the machine

J. Ellis, Virginia — Mon, 16 Mar 2009 13:54:32 GMT

Screaming Cramer of CNBC could not advise me about my bowl of Special K, let alone my 401K.

Common sense seems to have evaporated from our financial institutions, Wall Street, and many in the media. Now is an excellent time to refocus, regroup, and re-evaluate and go back to the things that made this country great in the first place.

First thoughts: Rage against the machine

Juan,Ft Lauderdale,Fl — Mon, 16 Mar 2009 13:55:35 GMT

Free market capitalism that's unregulated just shows how wrong the supply-side voodoo economics of Reagan and the tax cuts of the Gop have caused havoc on this country. Calling them fiscally conservative is an insult too anyone who has a brain as well as demonizing Democrats and other's who feels that higher taxes for the wlthiest is NOT SOCIALISM.

First thoughts: Rage against the machine

Dalton Reese, Oakland — Mon, 16 Mar 2009 13:55:36 GMT

This is the problem you get into when you put radicals in the White House. They are the Establishment, but they behave like the nutty radicals they represent. There is some kind of odd detachment to the Obama administration which is trying to be critical of the very policies that they are implementing. Example: They are the ones bailing out the banks, but they are critical of bailouts when it suits their radical followers needs. How can you both be supportive and critical of the bailouts at the same time? Same with the economy. One week Obama is telling us the economy is horrible, the next it's fundamentally sound. Huh?! Which is it?

First thoughts: Rage against the machine

Eric, Salinas, CA — Mon, 16 Mar 2009 13:56:14 GMT

Rage Against the Machine is a perfect title! I am one of those totally disgusted with the rich and greedy jerks of Wall Street. It's about time to put the robber barons in prison and let them rot. I laugh that the conservative trash has latched onto that garbage book by Ayn Rand, Atlas Shrugged. All I can say is let the true moochers of society "Go Galt" and play "Heck No I Won't CEO". We could replace them with far better talent for far less of a price.

I'm glad that Barack is back on the economy track this week. Nothing like beating the repugnant ones over the head with their greatest shame, driving the global economy over the cliff. What a laugh that Darth Cheney is now trying to say they were trying to bring aqbout financial regulation. Just another case of the bushwhacker letting an industry write it's own regulations which would have made current matters far worse. We need some real financial regulations that get rid of short selling and all of those other gimmicks that a few abuse at the cost of us all.

In Obama We Trust!

First thoughts: Rage against the machine

BJ, CA — Mon, 16 Mar 2009 13:56:50 GMT

Tax those bastards out of existence...

AIG your bleeding and the hungry sharks have picked up the smell of your blood....
excuses won't matter anymore..
Get'm Boys!!!

A ssholes
I n
G overnment

First thoughts: Rage against the machine

eagle1776 — Mon, 16 Mar 2009 13:57:09 GMT

Unfortunately Congress and the President are between a rock and a hard place on the AIG thing. AIG has contracts with their employees guaranteeing a bonus. They can either break the contract and subject themselves to law suits that would end up costing even more or they can pay the bonuses and feel the wrath of the populous, Congress & the President. This is not an evious position to be in. One might think they could negotiate with those people and perhaps even delay the bonuses until a time when AIG is more solvent.

First thoughts: Rage against the machine

jawillie, Philadelphia, PA. — Mon, 16 Mar 2009 14:00:27 GMT

>>>What's happening to America? We get our news from idiots like Jon Stewart, and we get our financial advise from screamers like Jim Cramer.
Roy Crown, KC Kansas (Sent Monday, March 16, 2009 9:26 AM)

==========
Let's not forget Joe [not] the Plumber.

http://jawillie.blog.com

First thoughts: Rage against the machine

Dan, NY — Mon, 16 Mar 2009 14:00:28 GMT

The week-end also brought some tough polling news for Democrats, with yet another poll finding Paterson sinking against Rudy Giuliani and another survey showing that Republicans are favored to pick-up Michigan's (open) governorship: http://campaigndiaries.com/2009/03/15/paterson-and-michigan/

First thoughts: Rage against the machine

Eric T, Winnipeg Canada — Mon, 16 Mar 2009 14:01:21 GMT

Obama needs to show leadership and quickly take decisive action to salvage the economy. Stop being played by AIG and the banks and not let the taxpayer be used as their financial sucker. He needs a new economc team as Geithner an Summers are no more than dummies for the banks and Wall Street. The government must go in and nationalize the system for a short period of time to clean up the mess and clean house. The bonuses to the AIG hacks and payments made with the bailout money by AIG is the final straw. The system is corrupt and the people running it and profiting from it are totally corrupt.

First thoughts: Rage against the machine

What's Up With THAT, Senator Baucus! — Mon, 16 Mar 2009 14:01:30 GMT

Scott, it's Max Baucus' idea to tax health benefits, not President Obama's.

First thoughts: Rage against the machine

Clara Kansas City, MO — Mon, 16 Mar 2009 14:08:39 GMT

MSNBC guys - sounds like your trying to start crap re Romer. Sometimes you guys sound like the National Enquirer! lol!
cindy, Las Vegas, Nv (Sent Monday, March 16, 2009 9:33 AM)

My thoughts exactly - I read the transcript last night and it was SO incredibly painful. David Gregory su@ks at this job. Cantor - the representative of Can't invoked the Las Vegas to LA train, again - and nothing from this putz. Is it so terribly hard to just say - "That talking point was debunked weeks ago, do you have anything else?"

I know everyone wants to give Gregory a chance here; but he just does not have the substantive ability to challenge either side effectively.
-------
This all segues nicely into my biggest beef, which is that CNBC, MSNBC (looking at Joe's show primarily) and FOX are all such 'posers'. In the words of Dr. Brzenski - They are all just stunningly uninformed about the issues. Cramer vs. Stewart last week - given the direction the jesting had taken all week long (which, if you will recall begat with clips Santelli doing his absurd 'floor poll' about no one wanting to pay for 'losers' mortgages) was completely unprepared for Stewart's usage of actual footage - that was all over the internet by Tuesday. These pundits just want to shout over everyone with opinion and do little to move the discussion forward with actual facts, rebuttals or follow up questions. Is it CNBC's fault - no; but are they aware of this secondary trading that IS gambling with OUR money? Of course they are, they just don't want to lose favor with their sources. I can't wait to see who Stewart skewers next. Hopefully it is the executives at AIG - and anywhere that received bailout money for FAILED management. The fact that those pathetic boneheads get to keep 'making decisions' with OUR money and get outrageously overpaid for it is just another b!tch slap in the face of the American People.

It's no mystery about how this happened, it's just a big smoke and mirrors game to all of them. Cut them off at the knees. We already own 80% of AIG, cut them the hell off!

First thoughts: Rage against the machine

Pat, Boston, MA — Mon, 16 Mar 2009 14:12:13 GMT

Howard Kurtz/Washington Post:

By and large," says the Project for Excellence in Journalism's annual report, released yesterday, "the press as an institution failed to function as an early warning system for what is now being called the biggest economic disaster since the Great Depression."

To pin the blame on him is just fundamentally unfair and wrong," says Shepard, now dean of the City University of New York's journalism school. "It's the party line of the Wall Street Journal editorial page." While there is "a germ of truth" in the criticism -- Shepard says that Treasury Secretary Tim Geithner unveiled a "half-baked" bank bailout plan -- "the decline of the market since Obama took office is largely related to the deepening of the economic disaster."

The Dow's swoon began in the last 18 months of the Bush administration, after the index peaked at 14164. Serwer says the crisis was "a generation in the making" and furthered by the Bush administration's "malignant neglect."

At some undefined point, the battered economy will be seen as Obama's problem. The conventional wisdom when he took office was that he had a year to show some progress. But that was before cable commentators started handing out 50-day report cards and presidents were expected to solve problems before the next round of Sunday talk shows.

Footnote: Iraq coverage, meanwhile, has fallen "off a cliff," to use Warren Buffett's phrase about the economy. Last year, the report says, the war drew about a quarter of the coverage it received in 2007, dropping from 16 percent of the news hole to just 4 percent. Newspapers were above average, devoting 6 percent of their front-page stories to Iraq.

First thoughts: Rage against the machine

The - Democrat Soldier — Mon, 16 Mar 2009 14:12:22 GMT

Come on MTP - I saw this crap. The whole thing was "got you" questions and spin as mush as you can.

You dumb asses ask questions that can only require a certain type of response and then you pounce on it to make some sort of head line.

Freakin ridiculous - Gregory's questions and interview the weekend on MTP were really - unfortunate.

I was starting to like the quy - now he's going back to “let me help save the Republican's ass". By, trying to help place some blame on President Obama's administration, should something fail in the future.

You media folks are really shameful - absolutely horrible - I was done; to only watching MSNBC and now I am about too put you bastard on the self too.

WILL YOU ALL STOP THE "GOTCHA QUESTIONS" AND JUST FOCUS ON WHAT"S HAPPENING AND GET THE ANSWERS TO THOSE QUESTIONS? WHY IS THAT SO "FU KING" HARD.

We are really tired of you clowns in the media thinking no one can see through that BS - I mean honestly - what is the problem?

Thank you and GOD BLESS AMERICA

First thoughts: Rage against the machine

C.Myles/Oak Hall, VA — Mon, 16 Mar 2009 14:12:45 GMT

The GOP has evidently decided to run away & hide from the 8 years of mistakes and leniency toward the Wall Street crooks. PLus they have no new ideas....just pick at thingsin the budget that they voted FOR because it was for their state. Unless the GOP goes on a Hypocrisy Diet, and disposes of Delay-Limbaugh-Coulter....they will lose even more seat in 2010.

First thoughts: Rage against the machine

Dave, Tn — Mon, 16 Mar 2009 14:14:32 GMT

Did you see Summers on Deface the Nation? He sounded scared to death and drunk. All of this crap going on is a great argument for claw back of power from DC and New York.

First thoughts: Rage against the machine

Arshad — Mon, 16 Mar 2009 14:17:03 GMT

Meet the Press is really getting pretty unimpressive. First of all, Dr Romer is not a politician. She was a professor and her expertise is in economic history of depression era and how different policies of that time impacted macroeconomy. She is in the administration to advise on economy and provide some hostorical perspective. It's useless to ask her who said what during a long protratcted campaign. Secondly, is this the most pressing issue the country is facing that he spent 1/3rd of his time on a meaningless question. Third, president did not quite say what McCain said. McCain ignored the scope of the problem suggesting it was a short term problem and fundamentals are good. Obama was saying that instead of focusing on day to day stock market, if we focus on fundamental things like credit market, foreclosure issue, toxic asset and address big issues like energy, healthcare and education, we will come out strong in future.
On a separate note, this lady is a professor of MIT and UC Berkley. She is not a politician and not an elected official. The way Greggory talked to her was offensive. No one should talk to a woman like that regardless of who she is. I am sorry but David Gregory in MSNBC and John King both were white house correspondent during Bush year and apparently both are still carrying water for fallen Bush-Cheney and seems don't recognize the fact that we had an election in the country and Bush-Cheney are not still in white house.

First thoughts: Rage against the machine

Moon Dawg — Mon, 16 Mar 2009 14:17:26 GMT

Nail those responsible for the collapse to the wall.
They knew it was coming, got big payoffs and walked out with the money. And don't forget Barney Frank.

All should be fined in the millions and sent to a real jail where they are incarcerated with other criminals.

First thoughts: Rage against the machine

Don. Columbus — Mon, 16 Mar 2009 14:26:03 GMT

Is this true that MSNBC is really writing that it wants to promote class welfare? First Is was Barney and Chris who failed to regulate this mess and who took money from Fannie Mae. Why hasn't MSNBC(otherwise the Obama network) further exposed this and ask for their resignations like th fat Oberman suggested about Bush? I'll answer that, it is because NBC has been a tool of the socialist Obama!

First thoughts: Rage against the machine

Robyn E. Deane — Mon, 16 Mar 2009 14:28:58 GMT

We shouldn’t be paying the bonuses; but we’ll probably have to. The old adage “When you’re up to your ass in alligators, it’s hard to remember that your initial objective was to drain the swamp.” is exactly what comes to mind.

The blame for this clearly rests with the congress that wrote, and approved, TARP. The way to have written the bill in the first place would have been to require that any company coming to the federal “Bail-out” bank first re-negotiate its existing executive contracts such that the bonuses would have to be eliminated before access to the money would be available.

So, how do I really feel? Let me put it this way: The voters of this country need to vote out every incumbent, “good” or “bad”, for a minimum of three election cycles. Only in this way will our dear elected officials actually GET IT that they are beholden to us, not Wall Street and certainly not the moneyed special interest groups. I call this Term Limits the way they were meant to be!

Thank you for letting me vent!!!

Robyn E. Deane
An Eric Cantor constituent, though not particularly a fan!

First thoughts: Rage against the machine

Mike Groshong, McMinnville, Or — Mon, 16 Mar 2009 14:30:35 GMT

Obviously our major financial institutions are out of control. Since they demonstrate do responsibility for the money they control, nationalization begins to sound rather pleasant. But then when AIG does it and we own about 80% of AIG, that hints to another issue.

Do the major financial institutions run this country? If so they are doing a poor job from their recent past behaviors. Its time for Congress to do it monitoring thing and start kicking.

First thoughts: Rage against the machine

Arshad — Mon, 16 Mar 2009 14:32:51 GMT

I have trouble to understand all the hyperattention on stock market (by the way I have my 401K tanked in market too). 70% of the new jobs are created by small business and they are not publicly traded company in wall street. 50% of the American people don't have stock. So just a rising Dow means a stronger economy is not a valid argument.

The whole wall street business is based on speculation, rumor, manipulation and yes some news in media. So when people are shorting stocks to make money (collectively driving stock price lower to make money), companies are loosing billions every quarter, people are loosing jobs by half a million every month, homes are becoming forecloses, retail companies and families are filing bankruptcy--when these stories are dominating news cycle, why do we think that stock market will keep going up regardless of what happens in broader economy? The facts is a large number of people bought stocks of banks "assuming" that Obama will spend trillions to buy their toxic asset using 100% tax payers money at a price the banks want and they will get a clean balance sheet for free and start again. When that did not happen, people dumped bank stocks which basically led the slide. GE got hit for same reason. They have a strong financial wing GEMB or GE Capital. So the idea that market is responding because Obama wants to fix healthcare or education as if these are negative things to do. In fact these things make the companies stronger by providing better talent in job market and reducing the healthcare cost. Our so called pundits do not speak for honesty or people, they just scream louder when their own financial stakes or the people they work for (corporations) are temorarily impacted by a short term slide in market.

First thoughts: Rage against the machine

Marsha Golden, Westboro, MA — Mon, 16 Mar 2009 14:35:12 GMT

Across Massachusetts, unions and municipal workers are being asked to freeze their salaries, forego raises IN THEIR CONTRACTS to help keep departments functioning...Why can't anyone ask these AIG incompentents to do the same???

First thoughts: Rage against the machine

Clara Kansas City, MO — Mon, 16 Mar 2009 14:35:19 GMT

Did you see Summers on Deface the Nation? He sounded scared to death and drunk. All of this crap going on is a great argument for claw back of power from DC and New York.
Dave, Tn (Sent Monday, March 16, 2009 10:14 AM)

I think he was on ABC's show, at least I saw him there and cringed the whole time. He is the WORST spokesperson for policy. He comes off as slightly MOBbish playing intellectual. It is too painful to watch.
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I wonder what it would take to scrap this crap and get out the brass knuckles? Somebody needs to kick some corporate @ss. I am sick of these b@st@rds getting fat on our dime. A diet won't do it, they need liposuction.

First thoughts: Rage against the machine

Jon's the best — Mon, 16 Mar 2009 14:43:48 GMT

Roy Crown, KC Kansas

Jon Stewart is not an idiot. Stewart graduated from William and Mary College in VA. Idiots are not accepted, nor do they graduate from William and Mary. You may not like Stewart's politics, or you may not enjoy satire, which is your right. However, to call him an idiot, indicates a lack of depth on your part. Unable to come up with valid, factual criticism of Stewart, you resort to name-calling.

Stewart's show is a comedy show, the network it is on, is "Comedy Central", which is why those on the receiving end of his cutting satire (for example Joe Scarborough, who if you watch the unedited interview many will enjoy Stewart's new name for the morning Joe host "Douche-borough"), show their ignorance when they complain I'd like to see Stewart tell us what the economic future holds, or complain about a soft interview of some politician they don't like, as if The Daily Show was 60 minutes.

With respect to Romer’s MTP answer, she was asked if the Fundamentals of the economy were strong, she answered the question, was she suppose to say no? She explained (similar to McCain after the fact) what she referred to. The difference was Romer answered a question, McCain, claimed the “the fundamentals of our economy are strong”, hours after Lehman Brothers failed. McCain sounded as if he was out of touch with the reality of the economic situation. He did not say the American worker, yada, yada, yada, until after he was criticized. Obama said fundamentally our economy is strong. To those who don’t understand English (i.e. Douche-borough) that may seem like the same sentence, it is not. The media has claimed Obama said exactly what McCain said, which isn’t true. There was an actual difference between what the two men said. Words actually do matter. More importantly there is a difference between a candidate who seems out of touch (doesn’t know the number of homes he owns, refers to people in his audience as fellow prisoners of war, needs Lieberman to correct him multiple times on his tour in Iran, etc.) And a President who knows that every word he states affects the economy, and is careful not to unnecessarily talk down the economy. It would be nice if the media learned a lesson from Jon Stewart, and started to do its job. Don’t merely repeat right wing, or left wing talking points, do research, find out the truth, and do your best to report it. And stop treating the public like we are ignorant. Most people watching news shows (except on Fox) and reading newspapers are above average intelligence. And please get your facts straight; it’s pathetic when my 14-year-old daughter often knows the chronology of events better than those reporting on them. For example with the Rush Limbaugh White House matter, many in the media, including those at MSNBC (not merely Douche-borough) parroted GOP talking points, Rahm started this, etc. Ignoring the fact that before Obama was sworn in Rush said he wanted Obama to fail, and then went further, and made it racial. Rush said those things to get attention, he got attention, and the few GOP that criticized him, were forced to back track. Did Rahm intentionally elevate Rush’s status? Of course, but this was after remarks that were incendiary were not criticized by GOP leaders. Does the media forget how Democrats were asked by the media (due to GOP furor) whether they repudiated Move On’s “General Be tray us” ad. Most Democrats denounced the ad. Where was the criticism of Rush by the GOP? When Rush states he can’t criticize Obama because his race, and is expected to bend over and grab his ankles, etc. The response from the GOP was deafening. The idea that Obama started this faux battle, or that it was a result of the White House that Obama was elevated is a joke, and it’s another sad example of the media failing to use its head. Yes the White House loves Rush being seen as the leader of the GOP, but that is another matter. Enjoying something, and being the cause of it aren’t the same. Reporting that the White House started the controversy, or the White House planned this etc. is factually inaccurate, without Rush’s over the top inappropriate comments by Rush, and the failure of GOP leaders to denounce his comments any attempt to elevate Rush to the leader of the GOP could not happen.

First thoughts: Rage against the machine

Rick, NC — Mon, 16 Mar 2009 14:45:49 GMT

Its the republican mantra...pamper rich losers with tax cuts and no adult supervision and then when they burn rome to the gound they bail them out with trillions of our money while they complain about middle class losers who want SS and unemployment insurance...I hope every republican voter feels the real pain of their ignorance and voodoo economics...

First thoughts: Rage against the machine

Diane from Illinois — Mon, 16 Mar 2009 14:47:27 GMT

David Gregory is a closet Republican that can only come up with "gotcha" questions. He thinks they need help right now, so watch for more of this in the future. I refuse to watch MTP because of him. Know who I think should be hosting? Rachel. You can tell she does her homework and researches her guests before she interviews them (much like Russert use to do). Rachel would be an excellent host of MTP and she would do Tim proud! Make her the host and I'll watch it again!

First thoughts: Rage against the machine

LB, Virginia — Mon, 16 Mar 2009 14:47:48 GMT

Have to love all these right wing types on here with the Obama administration's obit. Hate to break it to you that Obama and the Dems will prevail on the economy, and will be back stronger than ever in 2010. Your misrepresentations, selective polls, and imaginary friends will not work anymore, folks. The American people are onto your hyperbole, smoke and mirrors. But go ahead, keep spewing. It is great comic relief for the rest of us.

First thoughts: Rage against the machine

Brent, Richmond, VA — Mon, 16 Mar 2009 14:48:37 GMT

Enough already! It's time to start sharpening our pitchforks, and rise up against Capitol Hill!

First thoughts: Rage against the machine

Bill, Chicago, IL — Mon, 16 Mar 2009 14:48:56 GMT

Now that we have rid ourselves of our "Clown Prince", we have a govenor who proposes a 50% increase in our state income tax. Like most Americans, I hate to pay taxes, and yes I will hate paying 50% more. None the less, I realize that if the State of Illinois is to return to a sound financial footing, there must be decreased spending combined with increased taxes. We cannot go on attempting to borrow our way to prosperity. As a state and as a nation, we have reached this point by spending far more than we earned.

First thoughts: Rage against the machine

Paul — Mon, 16 Mar 2009 14:50:03 GMT

ROY CROWN

You are mistaken if you believe JON STEWART to be some kind of IDIOT. Now Cramer on the other hand....