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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Karen
I agree with Sharron.. If anyone is marching on Washington tomorrow please post here. Also, revolt sounds good.... Now suppose you are stupid, And now suppose you are a member of Congress -But I repeat myself Mark Twain
Ray in PA
Did you mention the sections on foreclosures and renegotiating the interest and principle on the toxic assets? I don't know how people can say with a straight face that we're going to make money on these assets in the long run. Treasury will pay too much for them (particularly if mark-to-market is dropped). Then we'll be asked to forgive principal & interest on the loans so that they're worth less than what we paid for them. Another question... Where is the provision that says the banks have to reloan the money once the banks are recapitialized? If they don't, how is this plan going to work to re-energize the ecomomy. Hate to say it but there are a lot of businesses and individuals who are too highly leveraged and we shouldn't be loaning them any more money. Sure that's going to hurt the economy and we're going to lose lots of jobs. But really, how long did we think we could keep buying houses, cars, TVs, etc. we couldn't afford on credit cards? If you want to get depressed, look at Charlie Rose's interview with Zorkin & Zuckerman. They're convinced this bailout won't solve the problem and that more stuff is headed our way... Wonderful...
Wayne S
Cody, I agree with you about 25% of the time. But you are right on here. The tyrants have taken over. For over 3 days you can't even get on the house.gov website to email your congressman. I guess free investing and free speech are over.
Keisha
I hate to say this, but the only thing I can say now is..I hate the "leaders" of this country and everything they stand for. I use to be a "proud american", not anymore! In my opinion, us American citizens should stand together (even stronger now than ever) and find a way to punish all those responsible for our crisis. Also in my opinion, Bush..he's going down in history as the most idiotic, egotistical, money greedy, high and mighty, self-centered, most hated, moron president ever. I pray that this bill doesn't pass. There's soooo much wrong with this picture and just one thing about it is, it's not to help us citizens or to "save" our economy...it's to save "their" butts! Again my opinion, they can take the bill...shove it up their rear and put a permanent cork in it!
Peter
Steve Jones, I am also a businessman, but we DO NOT not need to listen to the Buffets, Trumps, etc. They have a self interest to keep the current system of derivatives (without proper assets to back up the bad part of the portfolio) propted up so they can cash HIGH and run. Even if we keep the current system propted up, do you think these billionaires are going to keep their money into a country who's debt/asset ratio is ABSOLUTELY HORRIBLE. I would "hope" that they would be loyal to America. I suspect Buffet's recent move of his 3 billion investment is to create a false sense of security, and this allows him to keep his other investments (overly priced due to the derivative monster) propted up. We absolutely do not know how far and wide this derivative "ponsi-scheme" runs throughout our society. The bottom line is America is tapping out on credit. The only billionaire I listen too is Pickens. It seems his profits are actually tied to the vested interest the US on a long term basis. If you read Barrons, the people with money have been talking about 5-10 yr cash positions & metals-----NO EQUITY POSITIONS as these global derivatives start to unwine. What does that tell you?
LauraM
I dont know why you people expect anything different from this country. The facts are: 1) THIS IS STOLEN LAND. You cannot say you discovered a place if people are already living there. 2) THIS COUNTRY WAS BUILT BY STOLEN PEOPLE. That was not a Carnival Cruise ship that my family came on. The largest corporations such the former Lehman Bros., JP Morgan Chase, Aetna, CSX, New York Life have all admitted to profiting off of slavery. I am sure all of the others have as well. 3) PEOPLE WHO STEAL LAND AND PEOPLE WILL STEAL MONEY. Thats a no brainer. 4) STEALING MONEY, PEOPLE AND LAND is not a sign of freedom. There for nothing in this country was ever really free. It just took the rest of you longer to catch with reality. Or for reality to catch up with you.
Shannon Starrenburg
"We the people of the United States of America" BLAH, BLAH, BLAH! Here's a thought, our two party system has let us down so much; however, you keep putting them back in office! WHY! And if you are not voting them in office, could it be our our highly secretive, but most trustworthy electoral college (which is ran by the government) is hiding something? WAKE UP PEOPLE! Do you honestly think we are at this juncture by pure coincedence or could it be remotely possible that this has been a plan in the making for some time now? As for the upcoming election- not that it really matters who you vote for (because whoever has been groomed to win, will win) why don't we give the independent our vote. Bob Barr spoke very pointedly about how much he was against this bailout. At any rate, I'll leave you with a question to ponder on - When was the last time, that you can remember, a member of congress or even the president doing something that was GREAT, NOBLE, and for his people? Have a great day! PS. If anyone knows of any government revolt groups, please give the information on this thread.
Conor
Wow, are you telling us to buy A, B, C, D? Is there a hidden message in there? Nice program FoxBusiness, Try to turn it off on the editorials though.
Justin
Cody, you are the only one keeping it real. What's it like working with a bunch of communist pigs? Cheryl wont even acknowledge that this legislation is in fact a bail out. Emac turned into a big red bear was well when she pushed the bail out in one of her recent blog entries. WTF is going on man? This obviously isn't America any more. If our government wont respect the individual sovereignty of its citizens, I say bring on the revolution. I hope someone influential organizes a march on DC the second the house passes this bill. I'd drive from Texas to be there.
Timw
You think its bad with Paulson getting this money and power? Wait until Jan 20-09 when Obama gets it.
Michael H
Nice single letter blinking stock tickers Cody.
John Betz
Well, what can I say, the same Senators patting them each other in the back last night are are the same clowns bought and paid for by the very people who got us into this mess in the first place and now they wanrt me to bail them out!!!! to hell with that, lets do something positive..... TERM LIMITS.... comes to mind, 2 Four year for Reps. and 2 Six year for Sen., the get the hell out and get a job like the rest of us!
GRUMPY YOUNG MAN
The solution? Make foreclosure a crime, institute debtor prisons! PERSONAL RESPONSIBILITY, NOT GOVERNMENT RESPONSIBILITY!
Scott Bourne
Cody, I wish you had a bigger box to stand on when you state these things. The American people have been dumbed down threw atrition, public schools and political correctness. If this final sell out of America is passed in the house I am all for taking back the government. I say write in votes demand some one out side both parties. we need neither of them any more. The 2 party system sucks. Bush had better not plan on retiring in TEXAS we no longer claim him.
m abbott
If the House of Representatives votes for this bill, the headlines should read: AMERICA IS DEAD 7/4/1776 - 10/3/2008 She died at the ripe old age of 232 years. Services for AMERICA are to be announced later. The official ceremony will be held in Washington, DC where AMERICA was held hostage, tortured, and suffered under the guise of "we know what's best for AMERICANS". The elected representatives are being charged with the death of AMERICA, and will lose their jobs as a consequence. Other charges may be pending.
Steve L Jones
NO BAILOUT PLEASE I am a concerned citizen & small business owner in manufacturing. Please do not pass any government bailout plan. I & all of my friends & family want to see an alternative plan. Why can’t the politicians get a group of REAL business men together (Wynn, Trump, Buffett, Pickens, etc.) & work out a real solution, instead of hosing us again. The business men have some great ideas. We also want investigations and penalties for the ones who caused this mess. Please remind everyone Wall Street does not create wealth, wealth is created by only 3 activities - Mining, Manufacturing & Agriculture I am opposed to this huge bailout, the banks that are properly run are still in business and I can still get a loan if needed. No one is going to bail out my business if I steal the cash and pay myself a huge bonus. I say let the cheaters bail themselves out. Let honest private business men buy the assets at auction and keep the government out of business. It is obvious the government doesn't know how to run a business (Fannie Mae & Freddie Mac). Let the people who know how to run a business take them over. Surely they are not so stupid as to give someone a loan that has no money down & no proof of income. There was no crisis until the government got involved and started this bailout thing, now everyone has their hand out. The idea of no one being able to get a loan for a home or business is just the government officials using "the boogie man in the closet" scare tactics, and we all know it. All who vote for this bailout will lose votes in the next election. Guess the politicians let their egos get in the way. They all think they are smarter than the folks that actually run businesses, so they look down on us. PS. They need to fire Paulson, didn’t he run Lehman in the ground? Sincerely, Steve L. Jones Fort Smith AR
Bill_in_NYC
Capitalism and freedom have been dying slow deaths in this country for years. This bill should effectively put them out of thier misery with one fell swoop. Congratulations to the politicians. Pat yourselves on the back for destroying the last bastion of freedom left on the planet. You know this is what you wanted. Don't deny it. You are power hungry, not freedom hungry. Unable to succeed in a society that rewards people based on ablility and hard work, you have weasled your way through cracks and changed society to where people are rewarded and make fortunes by begging for favors from you. You use the police, IRS, courts and threats of prison to extort money from the very people you swore to protect and represent. You then redistribute the stolen wealth to your friends, your families, and pad your own accounts. Sadly, I feel as though I am living through Part III of "Atlas Shrugged".
Grant
The Senate version is even more ludicrous than the House version. Did any of you catch the "Insurance" increase to $ 250,000 expires on Dec 31, 2009! I really wish one of the news stations would get that out there. "Quit your complaining and we will increase the FDIC amount for a year." That really ought to soften some hearts. What will be even funnier is if people have $250,000 in their accounts after the in sured amount reverts to $100,000 and THEN their bank fails! No doubt the government would have to step in and do something about that crisis. Where does this all end. How big do you have to be to have your losses socialized. I keep hearing the talkinh heads spout off about how small business is America's foundation and everything would colapse without it. Why does the government allow small businesses to go under on a daily basis all over the country? Any small business I know of have always been told: "It is not the business of the Government of the United States to interfere with private business matters."
Heinz Berger
The economic rescue plan proposed has too much pork in it. The idea that Bush will spend 100billion if the bill is passed is crazy. Why would anyone give him that much credit when he doesn't even understand mainstreet. Bush will leave office as the worst presdent of all time.
Tena Gallagher
I can't believe that no matter how many people have urged their Senator or Congressmen not to vote for this...they vote for it anyway. I was a staunch McCain supporter until last night. His vote "yes" has changed my vote to "no"...I'm either going to write in a candidate (maybe Neil Cavuto...or Cody you might be a cool President) or see who else is listed on my ballot here in Los Angeles. If he would have shown REAL leadership regarding this issue...he would have been able to win by a landslide. With his "yes" vote...he has lowered himself to mediocrity. They have tried no other option. Their response is to throw money at the problem...and then to add insult to injury (to the American people) THEY ADD PORK??????? WOODEN ARROWS?????? I was a proud American until last night...but, quite frankly, I don't want to live in the United States of Socialism.
CRab
You need to have a serious talk with the rest of the FoxBusiness crew...they still don't seem to get it...
monkeyfurball
Why keep whining about it. It's a done deal.
Carl Bates
You can see my comments and leave some also at www.thestogeyman.blogspot.com ! I go as far as stating I want someone in jail, resigned, humiliated, I want blood!
Carl Bates
Well done Cody. I differ from Mr arren Buffet in that my thoughts are "God help us if this passes" because we will have given up too much power to the Government and taken another step closer to Socialism.
Kirsten Kohl
Adding 1 BILLION dollars in pork to a plan that they say is necessary to avoid an "economic pearl harbor" is plain old fashioned black mail. "You want to save your country... you want to unfreeze credit so that people can get paid, buy cars, save their businesses.... you want to prevent millions from losing their jobs..... then give me my pork!" Outrageous!! Kirsten Kohl Parkland, FL