about this blog
- Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company.
He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."
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Fred Hafer
I have contacted my Senators John Warner & Jim Webb. I've also contacted my Congresswoman Thelma Drake. None will receive my vote next election if they support this crooked bailout of Wall Street. I've informed George Bush I'm staying home on November 4th. He's a Wall Street lackey and I can't stomach the thought of pulling a lever for Obama. Folks, give gold and silver a real hard look.
Susan Jones
You are overlooking a very important point. Many incumbants do not have an opponent. My Representative has no opponent, so I am stuck with him. I have read before that about 40% run unopposed. Could you find out that fact for sur? Start talking up the 0% capital gains and mark to market rule changes. Threating secure politicians won't solve this problem.
Trey Baird
Call you local politicians NOW and tell them that if they support this bailout, you will vote against them in November. This bailout has approx. 7% approval... it is time to take this country back, and prove once and for all that "We The People" is still relevant!
Dakota Justice
This articulated my thoughts exactly. I have already emailed senators in the last 4 states I lived in telling them all if they vote for this then I will vote for whoever runs against them in the next election. But I love the fearmongering evident on every channel these days. All our 'Leaders' preaching fear if we don't give them this money. Hell, Paulson even 'jokingly' got down on one knee begging!!! If and idea is sound and true begging should have no part in it. THe idea and its merits should speak for itself!
Bryan
You are awesome, Mr. Cody Willard. I have often wondered over the last many months how you manage to speak the truth to so many people. I am a big fan. You speak for me almost all of the time. When are the arrogant, elitist knuckleheads going to realize that we voters are not necessarily ignorant or clueless just because we don't support their harebrained plan? Ahh, the arrogance... I will not be voting for my government reps if they vote for this plan. It is the only issue on which I will base my decision -even if it is not obviouse by election time that it was a bad idea... Darn right I am mad.
J
While I sympathize with "middle America" I find it odd that no one wants to share the blame. Did Wall Street demand they take mortgages they would never be able to repay? Did Wall Street demand they buy houses thinking they can flip them whenever they want for as much as they want? Maybe if all these people who think they aren't part of the problem got an education and were able to actually read the terms of their agreements they would have questioned why they didn't have to prove income (which they didn't have) and would have seen that their rates could reset to levels much higher (which they couldn't pay). Ultimately it's easy to point at greedy Wall Street and act like the bankers created this problem but even as we progress back towards prudent lending habits (proving income, 20% down, fixed rate 30/yr mortgages) it's all going to be irrelevant if none of the banks are willing to lend out credit. This feels like the lawsuit a few years back where someone sued McDonald's for making them fat because their food is unhealthy. Of course that lawsuit got tossed - it's absurd! Yet all McDonald's did was provide a place to eat, people could have ordered the low fat salad there, but they didn't. Wall Street always offered a more prudent lending option, Main Street was and always will be just as greedy and went for the option they thought could save them, and ultimately make them, the most money. Look in the mirror people, you're just at fault.
Don
I would have to disagree that those thieves in Congress, who vote for this monstrosity, will not be re-elected. The short memory problem is certainly a reason. However, even in the face of the mountain of lies told by our elected and appointed representatives, there are still millions of voters who actually think the likes of an Obama or McCain will actually be able to do something to fix the fundamental problems of the U.S. economy. Until the clueless voters start getting a clue about their clueless politicians, they will continue to get the government they deserve, good and hard.
Mark Stamoulis
Think about how much we could get for the $700 Billion Bill in Washington now. I'm ready!! Do The Math..... (I'm not the author) Personally, I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in what I call a "We Deserve It Dividend." To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Ya with me? Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up... ya with me? So divide 200 million adults 18+ into $85 billon that equals $425,000.00... ya with me? My plan is to give $425,000 to every person 18+ as a "We Deserve It Dividend." Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage – housing crisis solved. Repay college loans – what a great boost to new grads! Put away money for college – it'll be there! Save in a bank – create money to loan to entrepreneurs. Buy a new car – create jobs Invest in the market – capital drives growth. Pay for your parent's medical insurance – health care improves. Enable Deadbeat Dads to come clean – or else... ya with me? Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces. If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+! As for AIG – liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion -"We Deserve It Dividend" more than I do the geniuses at AIG or in Washington DC . And remember, this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. Ahhh...I feel so much better getting that off my chest.
Jesse
I'm so proud of the House Republicans taking a stand. They're holding signatures from our country's top economists telling us that they're are better ways. I pray we avoid this fascist instrusion by our executive branch. I can live through a recession, but I NEED my free country!
Allan
Okay, Cody, lets vote them out, and here is a pledge to let them know what is going to hit them: http://www.gopetition.com/online/22149.html.
treg
Cody, I would add "fascist" to your above turn of phrase... "commies/socialist pigs" Thus it should read, if I may, "commies/socialist/fascist pigs" Just a thought.
Sashia
Cody, They don't CARE if they get re-elected!! They've already secured their lifetime pensions, make their money (and I don't mean their salary) and secured their "connections" for a lifetime. They really don't WANT to have to battle D.C. traffic and lousey office coffee one more day than they have to. I agree wtih David, that most Americans (and not just the voters)ARE clueless. Worse yet, they are belligerent when you try to educate them. They are so hypnotised by the media that they not only agree the emperor's new clothes look beautiful, they truely believe it!! Ask the little boy that they beat the crap out of and stuffed in an overflowing trash bin, because he spoke out.....
Paul H
Dear Cody, Thomas Jefferson warned us over 200 years ago: "If the American people ever let a private bank and the corporations that grow up around them control our money supply, first by inflation and then by deflation, they will deprive it's citizens of their property until one day their children will wake up homeless on the continent their fathers conquered."
B Scott
The comment by David Spring could not have been written any better,,the average voter is more interested in sports.the new opium of the masses.
David Spring
Cody, How I wish I could agree with you. But, the problem is that the American voter is basically clueless. They have extremely short memories, and worse, they would rather hear a lie than the truth! The truth about our situation is dismal. So the average American voter would rather live in the delusional world where polititians actually care about the "little people". Forget voting records, let's believe the crap polititians spew out to gete reelected. I personally think it's time to kick out all the democrats AND republicans. Now that's change I can believe in!
Gregg
I agree Cody. If the members of Congress thought there was an upheaval in 2006, just wait for 2008. For someone to tell you that you’re sister doesn’t need money because she isn’t in debt is not surprising. There is a growing class of debtors in the US that will never be able to be debt free but think that they are smarter than everyone else because they were able to buy everything on credit and they ‘beat the system’ by not actually paying for anything. These people think they are going to be bailed out at some point and we are seeing Congress passing legislation that is doing just that. That wealth redistribution/class warfare stuff is sounding better all the time…