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September 22nd, 2008
02:00 PM ET

How can your confidence be restored in the US economy?

As the financial crisis worsens can your confidence be restored in the US economy?

As the financial crisis worsens can your confidence be restored in the US economy?

FROM CNN's Jack Cafferty:

The Bush Administration wants Congress to approve that $700 billion bailout package of troubled Wall Street firms… and fast.

President Bush said this morning "the whole world is watching to see if we can act quickly."

But let's remember this is Congress we're talking about.

Senate Democrats want to put their stamp on it and have sent around a plan of their own by way of a counter-proposal from Senate Banking Committee Chair Christopher Dodd.

Democrats are a little worried about protecting homeowners in the future.

They're also concerned about signing over a blank check to the Treasury Department without any clear plan to protect taxpayers.

They want some oversight of the bailout plan.

The government is sailing into uncharted waters, and there are no guarantees whatever they come up with will do the trick.

The idea seems to be that doing nothing would have been disastrous… so doing something is better than that.

As far as how fast they get it done… Congress is scheduled to adjourn for the rest of the year on Friday - and when their vacation is threatened, they sometimes can move fairly quickly.

Let's just hope they can get it right.

Here’s my question to you: What will it take to restore confidence in the U.S. financial system?

Interested to know which ones made it on air?

Steve writes:
Confidence in the U.S. economy can only be restored by electing a new president willing to change the disastrous policies of the last 8 years. Trickle down economics and tax cuts for the wealthy have run the economy into the ground.

Linda writes:
The first step will be that Congress exercises its duty to the American People by watching the purse strings. Congress has a constitutional duty to get it right. Getting it right will take time. Hours, maybe days. Writing a Blank Check to the Bush Administration takes seconds.

Nicki writes:
The only things that may restore my confidence in this government are the big business Republicans out of office and seeing the "leaders" of these companies held responsible for the mess they created.

Sherry from Montrose, Iowa writes:
It'd take someone to step up and say "We're sorry. We tried our trickle-down theory, and we were wrong. It doesn't work, and we're going to stop it now". But instead, all that will change is that the Republicans will claim they just did it wrong, or with the wrong person. This time, you bet, it will all work just fine. So vote McCain, and flush the rest away.

Elizabeth writes:
If Wall Street wants to be bailed out by the taxpayers, then they have to give us ownership of their companies, cut the pay of CEOs to more reasonable levels, and be more transparent in their dealings. The U.S. Treasury Secretary should not have such unfettered powers as Bush is asking for.

Thom from Negaunee, Michigan writes:
My guess would be about 30 years, a balanced budget, and a totally new Congress.


Filed under: US Economy
soundoff (361 Responses)
  1. Annie Kraft Naples FL

    Barack Obama in the White House

    September 22, 2008 at 2:03 pm |
  2. Tom, Avon, Maine, The Heart of Democracy

    Impeaching George Bush would be a good start.

    Having an open comprehensive hearing from the whistle blowers in the Treasury Department who had been leaking that things were much worse than we were being told.

    Obama saying that we are speeding up our timetable for exit from Iraq. Trillions of dollars in historic fiasco.

    September 22, 2008 at 2:05 pm |
  3. Doug Rue

    Hey Jack,

    I think before congress writes a blank check for 700B, they need to get some kind of itemization..I hate to say it but your boy Bush has a history of overstating the facts (i.e. WMDs, etc)..Where I'm from, we call it lying..

    I'm just saying...

    September 22, 2008 at 2:06 pm |
  4. Mickie in Philadelphia, PA

    A lot - but getting rid of the republican administration would be a big start. Then if Barack will follow through and get rid of the lobbyists, the people will actually have a voice for a change.

    September 22, 2008 at 2:06 pm |
  5. Joseph Osmundson

    I would rather loose my job and starve to death than see one person get bailed out for their bad decisions. These idle threats of complete disaster if we do nothing are bold face lies. Of course the Wall Street folks are going to say that so we save their ass. We will survive even if the finical market “melts down.” Sure it will be tough, but as long as the government steps out of the way it won’t be more than 1 bad year. How does the old saying go you can put lipstick on a pig but it’s still a pig? The same applies to these bad investments you can make the government buy them, but they are still bad investments. This bailout will not change that and the chickens will come home to roost.

    This bad paper must go back to where it came from. It was created out of thin air so it can disapear into thin air. No reason to put this on the american people through inflation.

    Joe in IL

    September 22, 2008 at 2:07 pm |
  6. Twan from Annapolis

    Clearly, Barack Obama is the most extrodinary canidate in the Presidental Race. He Has done everything right, and he has the best idea's for the Country..

    He's 10x better than McCain and Bush for that matter

    My question is What does Barack Have to PROVE to America that HE's Ready?

    Sad but true, But if Barack was white The Election would already BE OVER.

    September 22, 2008 at 2:07 pm |
  7. Dave, Brooklyn, NY

    1) the thugs who stole all the money must give back every dollar.

    2) then they must go to jail for a very long time.

    3) there must be controls put in place to prevent this from reoccurring (like the controls that were dismantled by Mc Same and Gramm)

    4) if the taxpayer must bail anyone out the taxpayer must share in the profits when the companies recover

    Otherwise, let them fail.

    September 22, 2008 at 2:07 pm |
  8. Joe in Missouri

    Restored for whom? The rich CEO's or the ordinary person who has already lost his or her job, pension, health care, home, and value in a 401K. We must have the bailout, but it must include caps on bailed out company's CEO salaries and bonuses and help for struggling main street Americans.

    September 22, 2008 at 2:08 pm |
  9. Cassie, NC

    If Barack Obama is President. McCain doesn't know what he is talking about and doesn't feel comforiable even talking the economy. McCain talks change and reform but I just think he is taking Obama's ideas because he has nothing to offer us himself. I think Obama will do a complete overhaul in the government and change the problems we have.

    September 22, 2008 at 2:08 pm |
  10. Jackie in Dallas

    When the CEOs, CFOs, and stockholders who made millions off of the companies are forced to give it back before the government bails them out!

    If I live beyond my means, it means I'm a bad credit risk, and I have to deal with the consequences.

    When a major corporation, especially BANKS, do it, they are too "critical" to the stability of our government. Duh? Did I miss something here? When there was regulation, those same banks were solvent, productive companies who didn't off shore their customer services, and didn't invest in risky policies. When the GOP-led Congress and White House deregulated them, we ended up with several hundred new multimillionaires, and an economy in shambles.

    I guess, maybe a Democratic Congress and White House is necessary.

    September 22, 2008 at 2:08 pm |
  11. Jeff in Connecticut

    There's only one way Jack:

    The Justice Department & Congress must follow through on their OBLIGATIONS to indict/impeach & prosecute vigorously each & every person, wether his or her address is Wall Street or Pennsylvania Avenue, who has perpetrated fraud against the American people.

    September 22, 2008 at 2:08 pm |
  12. Bob Bradenton, FL

    I don't like the idea of government bailouts and I believe in personal responsibility but it is clear that our economy will disintegrate if something major isn't done quickly. However, I want my 'pound of flesh", too. Every senior executive and director of every company involved in these ridiculous loans should not only forfeit the bonuses they stand to receive, they should be forced to pay back all of their previous years' bonuses and their assets should be seized and liquidated to help pay back the taxpayers. Their greed has forced this situation. They should be subjected to personal financial ruin.

    September 22, 2008 at 2:09 pm |
  13. Jan Davis, Knoxville, TN

    The only way is for Obama to win the election on November 4. I don't trust any of the Republicans to do what is right.

    September 22, 2008 at 2:09 pm |
  14. Judith

    When the White House is out of the RED and into BLUE

    By the way Jack, why can't the city of Wasiila afford rape test kits for rape victems? Are there so many women being raped that the cost of a test kit will break their budget? Didn't they get enough earmarks?

    When is someone going to ask Ms. Palin to return the money she took for the bridge that never was?

    Regards,
    Judith, NYC

    September 22, 2008 at 2:09 pm |
  15. Precious Coker

    A trustworthy president.more importantly a level headed leader, who is ever ready to think issues through before taking action.
    We do not want an uncle ziggy in his zig-zag express( straight -talk express??) firing and shooting every thing in sight before thinking.

    September 22, 2008 at 2:09 pm |
  16. The moderate

    Democratic President plus a 60-40 majority in both houses for democrats.

    September 22, 2008 at 2:09 pm |
  17. Bobbie

    Term limits. Bush out of office and the rules are back in place for all companies.

    September 22, 2008 at 2:10 pm |
  18. Darlene Phila, PA

    Only on November 4th when Barack Obama wins the election and mccain retires in AZ and Palin crawls back to the hole she came from i will have complete confidence that the economy will be restored.

    September 22, 2008 at 2:10 pm |
  19. David Stallman

    Jack,

    They tell us we can’t let these financial giants fail because they’re too big. Well then, an essential legislative response to this debacle has to be the return of aggressive anti-monopoly and anti-oligopoly laws. The Feds have to “just say no” to 90% of all mergers and acquisitions. Before Obama plays FDR and gives the middle class a new “New Deal,“ he needs to channel Teddy Roosevelt and use a “Square Deal” big stick on Wall Street. He needs to gut these monsters who are destroying the world economy, American democracy, and the lives of many, many millions.

    David
    Auburn, Ca.

    September 22, 2008 at 2:10 pm |
  20. Barry - Albany, NY

    Today we are witnessing the result of mortgage musical chairs! I work in the industry and provide mortgage origination and risk products to lenders. I can tell you without hesitation that by as late as 2006, EVERYONE in the mortgage business knew the bubble was bursting and that high debt ratios and sub-prime practices would have devastating results. Everyone was gambling they were smarter and they could bundle, package, and hide the worst of the worst so when the music stopped someone else would be caught holding the loan. Well, it appears that they were right! This reactionary bailout leaves them still sitting at the table while the taxpayers are again left holding the bag.

    This is another miserable failure of leadership, cronyism and greed and you should ask your members of congress which side of history they want to be on when the story of the sub-prime lending crisis is told. For over 2 years many warned the Bush administration of the devastating effects this would have on the economy and on the lives of innocent homeowners. Not only were these warnings summarily dismissed, but it now appears that they were an eager accomplice to the unscrupulous lenders who went to great lengths to keep their pipelines open and their profits pouring in. Once again, this administration has abused the power of the federal government by deciding to be a groupie to big business and by assailing anyone who stood on the side of consumers by asking Washington to change the tune or add more chairs.

    September 22, 2008 at 2:10 pm |
  21. Stacy from Loudoun County, VA

    Jack, I have no confidence that I am going to regain confidence in the US economy. Debt is going to be the end of us all and no one in this country gets it. Just because the private sector is shedding the debt and putting it on the taxpayer (yet again), it does not make it go away. Are we going to bailout credit card companies next when they go belly up? When will it stop? Our great grandchildren will come to hate us, Jack.

    September 22, 2008 at 2:11 pm |
  22. Richard Rohde

    If our political leaders will do their duty as they promise they will, instead of playing partisan politiics. Example, in spite of all of the promises regarding political corruption, Nancy Pelosi refused to do anything about the Charlie Range scandal and he blames the Republicans. Why isn't this kind of stuff on CNN and MSNBC?

    September 22, 2008 at 2:11 pm |
  23. Ron K.

    Hi Jack:

    It can't. Big business and the government have become so corrupt. The only solution is disolution. I doubt anybody could fix this problem. The only way this situation will be resolved is when the US Government goes bankrupt. Then what you will see is all those government leaders that have nothing to gain anymore abondining the ship. John and Robert Kennedy attempted to stop this from happening long ago. And they died for the cause. Big business hated them for what they tried to do for this country. So they murdered them. So here we are, a nation of greedy people, not caring one for the other. Paying for everything, and getting very little in return.

    Ron San Diego

    September 22, 2008 at 2:11 pm |
  24. brenda

    all i am asking for is after they get done spending 700 billion dollars or more for all the baleouts, will they please just leave us taxpayers enough money to buy a jar of vaseline because this is getting to be about all the pain i can take!!!!!!!

    September 22, 2008 at 2:11 pm |
  25. John, Winston Salem, NC

    When I finally find some lose money left in my pocket!

    September 22, 2008 at 2:11 pm |
  26. Burt, Sun Lakes, Az

    When I see those responsible for this mess to be held accountable for their actions instead of being rewarded. Then maybe, just maybe I will begin to have some confidence in our system.

    September 22, 2008 at 2:11 pm |
  27. Nancy from New Jersey

    The entire Congress and White House would have to resign effective immediately for me to trust anything "the government" says. Democrat, Republican or Independent, they all stink and they are all in for themselves and their cronies in big business. And yes, that includes both presidential candidates. While I believe McCain is far more guilty than Obama just from his sheer length of alleged service in the Congress, every single member has failed each and every one of us miserably.

    September 22, 2008 at 2:11 pm |
  28. james fl

    Obama, and Biden. No way no how no McCain no Palin

    September 22, 2008 at 2:11 pm |
  29. Conor in Chicago

    No-not at all. Remember people weren't talking about a "Great Depression" in 1929. That didn't happen until '31. It took 2 years for everything to fall apart to that level. Commisar Paulson is poised to be granted financial power that no one person should ever have in this country. In addition to that you are going to have millions of people who are going to lose investments, jobs, and livelyhood to bail us out of this crisis that rich politicians, bankers, and lobbyists profited from. They are stealing our tax money in order to keep the system going and none of them are going to be punished in anyway. I see major civil unrest in the future. I fear the police state has truly begun-we just haven't seen it yet.

    September 22, 2008 at 2:11 pm |
  30. R in CA

    First step in restoring my confidence? Remove all Bush cohorts. They are tainted. They have lost all trust. They have lost all credibility.

    September 22, 2008 at 2:12 pm |
  31. Deb, Allentown, PA

    Wow, Jack, that's a tough question. I know that electing Obama and Biden is a start. Obama's circle of economic advisors is a Who's Who of successful, intelligent economic gurus. On McCain's side, we have Phil Gramm, he of the "nation of whiners" and "mental recession" comments. If McCain and Palin are elected, we may see Mexico and Canada have to close their borders over immigration issues...US citizens fleeing to those countries.

    September 22, 2008 at 2:12 pm |
  32. Scott - Wichita, Kansas

    LET IT FAIL. It will rebuild itself. The only thing that government bailouts do is give control of the free market to the government. It will just encourage the bad practices that led to this. What is so wrong with learning from your mistakes?

    September 22, 2008 at 2:12 pm |
  33. Frank from Peterborough

    Well to be honest electing John McCain sure wouldn't be one way of restoring confidence in the U.S. financial system. John has been against almost every issue before he was in favour of it with the latest being a regulatory system for financial institutions.

    The only way John McCain could possibly live up to all his new positions that he has taken, since the Bush doctrine has become exposed, is to change political parties. In other words if John McCain actually intended to do many of things he is now copying Obama on he would be a Democrat as for the most part they are a complete reversal of the Republican Party policies.

    September 22, 2008 at 2:12 pm |
  34. LaWanda from Orangeburg, SC writes

    For once in the US Goverment history they have to do something that will help everyone including the middle class and poor. They should impliment funding programs to help the many suffering from foreclosure and they should have a stimilus program designed for peolpe who families earn less that 50,000 a year. Noone is doing anything to help these people who make up the largest percentile of the US population.

    September 22, 2008 at 2:12 pm |
  35. Laurie in Lawrence, KS

    Regulation, Regulation, Regulation

    September 22, 2008 at 2:12 pm |
  36. Mageen

    This entire White House crowd is impeachable. Here's the newest reason: their complete lack of oversight of their friends on Wall Street has resulted in the creation of a fourth branch of government headed by Henry Paulson.

    Where, oh where, are the firing squads?

    September 22, 2008 at 2:13 pm |
  37. Jamal, oakland CA

    One thing is very clear which is American's confidence in economy can not be restored by electing someone who graduated 1958 in avaition.

    Jack!! Please, get the old guys out and let the young hold the leadership.

    September 22, 2008 at 2:14 pm |
  38. Mark - Asheville, NC

    If I had no faith in the system I would expect the Fed to do nothing when the financial giants tumble. The fact that so far, the government is doing what it has to, to correct for the bankruptcies gives me confidence that the system is working as intended. These things do happen; the measure of the system is how it responds.

    So, steady as she goes. Ask again later.

    September 22, 2008 at 2:14 pm |
  39. Sarah, Charlotte, NC

    Nothing because she has nothing to say.

    September 22, 2008 at 2:15 pm |
  40. Domenic from Montreal, Canada

    Very simple. End the most expensive and non-necessary war in Iraq immediately and replace Bush with Obama.

    If the above is done, confidence will come back almost immediately.

    September 22, 2008 at 2:15 pm |
  41. Hazelene

    Lower-middle & middle class people are having difficulty just paying household bills including food. My question is how do we justify that bailout of big business and rich people, saving their interest in the stock market, with our tax dollars, knowing they missed manage funds using deregulation policies; something that Bush and McCain still wants in place. Also; they intent to use part of that bailout money to pay off CEO and other high paid people. With nothing for the little people that worked so hard to pay taxes and feed their families. Plus they can't afford to send their children to good schools or college. Please tell me how you as a person of means would justify this bailout. I don't know any of my friends or family members that could afford stocks or that have money invested. I have had to use all my saving just to survive. Thank You! Hazelene

    September 22, 2008 at 2:15 pm |
  42. Ralph

    Knowing the top executives will no longer collect high salaries for poor performance, end the golden parachutes, big bonuses and stock options. These executives have been stealing money for many years by not performing. Also make the Board of Directors more liable for decisions they make. Its time our govenment put a limit on all these salary and performance issues before we bail anyone out. Why should we be paying, let the executives of these company contribute their millions back to the companies. Ralph in Arizona

    September 22, 2008 at 2:15 pm |
  43. Jackie in Dallas

    Oh, by the way, just to head off the inevitable Republican rejoiner about the "majority" of Democrats in Congress being responsible for everything that is happening: at last count, the Senate is split almost dead even. When Lieberman votes Democratic, the Dems have a one vote majority. In the House, the split is slightly better; the Dems have a 31 vote majority - out of 435 seats (which is less than a 10% majority). However, since it requires more than a simple majority to pass legislation, and it requires a 3/4ths vote to overturn a Presidential veto, you can't really say that the Democrats are responsible for everything that's happend in the last 8 years. You can pin that directly on the Republicans!

    September 22, 2008 at 2:15 pm |
  44. Gary of El Centro, Ca

    It won't be restored until Bush is out and Obama is in. We are desperately in need of someone in the White House with an IQ higher than a turnip, and McCain is two points below that. Obama is our only hope to turn the economy around and restore our standing in the world.

    September 22, 2008 at 2:15 pm |
  45. David, Tampa, Fl

    A complete overhaul of the economic and political systems. For me the costs, social and economic, of leadership is far to high. My marginal utility curve for these people is a paralell line with the x axis at about a smidge above ZERO.

    September 22, 2008 at 2:15 pm |
  46. Tom

    Legislation to replace the deregulation of the financial institutions that Phil Gramstander and the Republican Party forced upon the American public. Failure to regulate the various industries have led to things lead in toys for our children (do the republicans care) food that is dangerous to consume (do the republicans care) etc. Bush never met a regulation that he could approve of except those that protect his executive privilage,

    September 22, 2008 at 2:15 pm |
  47. JD in NC

    The scariest thing to me is that right now, nobody knows how it works. That means all these fixes are "best guesses". Having transparency and oversight is the only thing that will make feel secure.

    September 22, 2008 at 2:16 pm |
  48. Roy

    Only If some one would give stright talk like.Do you really think off shore drilling for oil is going to help us, the American driver. Look what just happened when we had hurricanes in the gulf. And they want to drill more in the waters. If I can get $100 dollars a barrel over seas why should I sell it to the American driver cheaper. What we need is competition with other energy sources. If you would give a tax break on fuel for 5 years to the trucking industry who change all trucks over to natural gas I am dam sure gasoline and diesel fuel would come down quickly. A tax break for autos as they change over . And give tax breaks or funds to the colleges that work on water / hydrogen fueled cars. Automobiles can run on water taking the oxygen out of the water leaving hydrogen behind to burn. The oil cartel is not just OPEC. The American oil industry is in bed with them. It is called greed. You know youself if a CEO makes that kind of money, pension ,stock options. It has to be greed.

    Thanks Roy

    September 22, 2008 at 2:16 pm |
  49. veronica

    It would take the govt to put those CEO's who stole the America Dream in jail and stop welfare for the rich. And it is patriotic to pay your taxes ... the taxes that were to be used to benefit OUR COUNTRY no the rich!

    September 22, 2008 at 2:16 pm |
  50. Ralph, Corpus Christi

    I'm really not sure at this point. To start, I'd like to know where we come up with a trillion dollars all of a sudden, in the midst of a costly Iraqi invasion, in debt up and over our ears with China, and now we're bailing out financial institutions while the CEO's are laughing all the way to the bank.

    September 22, 2008 at 2:16 pm |
  51. Doug Kenny

    Let's see $700 billion and the same guys get to return to "Start" so they can find another way to lose another $700 Billion.

    How about this:
    If a bank borrows any money under this plan, the members of the bank's managment forfeit all stock options, all bonuses and have a salary of not more than $10,000 per month until the loans are re-paid in full.
    And, if a bank falls behind in its payments more than sixty days, the bank is shuttered and the senior management staff is banned from the banking and investment community for life.

    September 22, 2008 at 2:17 pm |
  52. Toni Boutwell, Myrtle Beach SC

    The immdiate ouster of the regime that got us into this mess. A world bank takeover of ourmarkets, with legitamate oversight,criminal charges against those who preyed on the vulnerable and lied to thier investors and a full revelation of who plotted these scams, corporate and politically.

    September 22, 2008 at 2:17 pm |
  53. Alaina

    jack it will take an obama/biden administration to fire all the money hungry coporate leaders in america and start sticking up for the little guy.

    alaina
    florida

    September 22, 2008 at 2:17 pm |
  54. don in naples, florida

    It will take a while to restore confidence. After seeing the U.S. Congress approve of the recent bail-out, it seems likely that many other corporations on the brink of failure will seek the same rescue from "we the people". The only thing government could do would be to eliminate deficit spending. You could do that by shrinking government, reducing entitlements. If i could see anyone trying to be conservative with taxpayers' money my confidence would improve greatly.

    September 22, 2008 at 2:17 pm |
  55. douglas gengler

    when all the ceo's and fatcats that made millions are held accountable, PRISON TIME, including having there assets frozen, sold, to recover the losses the taxpayers are going to incur.

    doug in arkansas

    September 22, 2008 at 2:17 pm |
  56. susan from Idaho

    Jack this is a wait and see game with no definitive answers.

    September 22, 2008 at 2:17 pm |
  57. Jayne

    It wouldn't be a bad thing if there was an effort to put a little fairness in the system. There is no reason on earth for CEOs involved in this bailout to be rewarded for their failure with millions in taxpayer dollars. It's bad enough there are 47 million taxpayers who cannot afford health insurance bailing out AIG without adding insult to injury. Bail them out if we must, but there has to be oversight, regulations, restrictions and caution. No blank checks. I like Rep. Kucinich's idea of sending each taxpayer a certificate for their share of the bailout.

    September 22, 2008 at 2:18 pm |
  58. Glenda Breaux

    A new DEMOCTRATIC president!
    gb

    September 22, 2008 at 2:18 pm |
  59. Tony

    simple, jail all the criminals that created this mess, and jail the politicians that did their bidding. Then make lobbying illegal. Last prosecute any politician that sells their vote.

    It's called accountability.

    September 22, 2008 at 2:18 pm |
  60. Peter, Long Beach, CA

    Bring in STRICTLY enforced regulations in the financial sector. Without them, the whole sector is open to abuse by what can only be considered as crooks.

    As for the $700 billion bail out package, it should be considered as a government loan with strings attached and the loan to be repaid to the taxpayer over a limited time period with interest (just like they do to us). Otherwise, this will be the biggest robbery in history!!

    September 22, 2008 at 2:18 pm |
  61. veronica

    It would take the govt to put those CEO's who stole the American Dream in jail and stop welfare for the rich. And it is patriotif to pay your taxes...... the taxes that were to be used to benefit OUR COUNTRY no the rich!

    Veronica
    Milton, Florida

    September 22, 2008 at 2:19 pm |
  62. David, Orlando, FL

    Since I have to pay for my own mistakes – no one ever bailed me out – these companies should be allowed to fail. It won’t be nearly as bad as we are told. Everything they are threatening has been happening for the last 8 years. A complete overhaul of the US Congress, the Executive Office and the Supreme Court for openers. Then we need laws that make sense. These laws would also make executives responsible for their bad behavior. I.e. make the system fair.

    September 22, 2008 at 2:19 pm |
  63. Al George

    As I consider the $20 million salaries and $40 million bonuses paid for fraud, incompetence, indifference and waste that is bringing down the walls of Wall Street, and the reverberations throughout our economy, I'm reminded of a line from Oliver Golsmith's, The Deserted Village:

    "Ill fares the land, to hastening ills a prey,
    Where wealth accumulates and men decay."

    September 22, 2008 at 2:19 pm |
  64. Cameron Kirchhoff

    I don't get it Jack, whay is the federal government asking us to bail out companies that have a gambeling problem? They sure woulden't do it for the common tax payer if they ever got into that kind of situation.

    September 22, 2008 at 2:19 pm |
  65. Dee

    If the wealthy CEO's and other high-level managers and traders who profited so handsomely from this sub-prime bundling (or bungling) will offer their personal fortunes to repay what was lost on their watch and through their greed and inattention, then integrity – that thing they forgot about – will be restored. Integrity cannot be bought, especially with the taxpayers' money. Only a fool would trust someone who lacks integrity.

    September 22, 2008 at 2:19 pm |
  66. Allan Hanson Cameron Park Ca.

    All of the CEO's that got us into this mess go to jail, along with the members of Congress that alegedly oversee the S&L's that did not do their jobs.

    September 22, 2008 at 2:19 pm |
  67. Ralph

    Jack, this is a just sick, Lehman company goes bankrupt and you get a big bonus. This has to end. Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night. Ralph in AZ

    September 22, 2008 at 2:20 pm |
  68. Fred May WA

    To restore my confidence in Washing DC it would take the replacement of every politician that is up for election .I think they
    are all in it for themselves. How rich can I get before the public
    catches on.

    September 22, 2008 at 2:20 pm |
  69. J of Biloxi, MS

    Get a turn at ALL Democrats running government since the Republicans did this over the last 8yrs in charge.

    September 22, 2008 at 2:20 pm |
  70. Jim Jenkins

    George Bush has spent 8yrs sinking this country into the ground and ask congress to fix it over the weekend. The first thing that congress can do to start restoring confidnce in the U.S. financial system would be to take back all the money we paid Bush and Cheney. Again this would only be a start.

    September 22, 2008 at 2:20 pm |
  71. Laurence (Washington, DC)

    With a credit rating of 700, once I stop getting rejected for a car loan I may be able to have my faith restored in the American economy.

    September 22, 2008 at 2:20 pm |
  72. Ramon Lora

    Bailout. have to wait after the election. The republic got in this mess and now they want to tax payer to cover the they miss judgement of the big company CEO decision. The plan of bailout don't benefit the tax payer. Just like the Iraq war. If Mr Bush said a was a Christian when he run for the election, he got me fool. Because christian don't fit evil with evil. This of Iraq war also got as in economy crisis, but republics won't admirer.

    September 22, 2008 at 2:20 pm |
  73. James B. / Driggs, ID

    My confidence will be restored when "the fundamentals of the economy are strong." What? John McCain just said everything is fine? He did? Really? He wouldn't lie now would he? No, of course not. Okay, I take that back, my confidence has already been restored. If McCain says everything is fine, then who am I to argue with him.

    September 22, 2008 at 2:20 pm |
  74. Rex in Portland, Ore.

    Jack, it is gonna take lots of time, lots of new laws, lots of new legislators, lots of new leaders, a brand-new mindset in Washington, tons fewer of lobbyists, a balanced federal budget, and greedy heads by the thousands rolling down Wall Street to restore my confidence. Either that or I pull a McCain and marry me one of them there rich women.

    September 22, 2008 at 2:20 pm |
  75. Craig from Scottsdale

    We need to hear the other side. Get Jim Rogers on the program or some other respected economist. There are plenty of respected opponents to this bailout. When are we going to hear from them?

    This bailout is a cover up to keep these firms out of the Bankruptcy Courts, where the real scrutiny will come to play.

    How is giving an open checkbook to the same scoundrels that created this mess going to solve anything? More big bonuses for Wall Street!!!

    September 22, 2008 at 2:21 pm |
  76. Marieth, Chicago

    By putting Barack Obama as our President of the United States followed by Democratic majority rule in the House and Senate. Ergo, no bickering. Get stuff done.

    September 22, 2008 at 2:21 pm |
  77. Judie from St. Augustine, Fl.

    Jack,
    It would take holding ALL of those who allowed this to happen to be held accountable and not rewarded by getting the so called "Golden Parachute". But this will not happen. They will just go on to bigger and better ways to separate us from our money
    I don't think my confidence will be restored in the US economy in my life time. I believe this is only the beginning of the end of our economy as we once knew it. I feel sorry for what we are leaving to our children and grandchildren. Not a very pretty picture is it?
    Judie
    St. Augustine, Fl

    September 22, 2008 at 2:21 pm |
  78. David, Orlando, FL

    One more thing: Every time I was told I had to put up my money right now or terrible things would happen, I never regretted walking away. The 2 times I got sucked in I got screwed.

    September 22, 2008 at 2:21 pm |
  79. Marieth, Chicago

    By putting Barack Obama as our President of the United States followed by Democratic majority rule in the House and Senate.

    September 22, 2008 at 2:22 pm |
  80. Mark - Asheville, NC

    If I had no faith in the system I would expect the Fed to do nothing when the financial giants tumble. The fact that so far, the government is doing what it has to, to correct for the bankruptcies gives me confidence that the system is working as intended. These things do happen; the measure of the system is how it responds.

    So, steady as she goes. Ask again later.

    September 22, 2008 at 2:22 pm |
  81. Karen

    My confidence will be restored when the ones responsible are held accountable for this mess. Many people in many high places were either asleep at the helm or had intentionally taken us for a ride. Either scenario is inexcusable and deserves punishment.

    Karen
    Ishpeming, Michigan

    September 22, 2008 at 2:22 pm |
  82. Jason, Koloa, HI

    If we start using Euro's.

    September 22, 2008 at 2:22 pm |
  83. Ozzi, AZ

    I'm scared! I don't know what will restore my confidence other than getting the republicans out of the White House! That would be a good start!
    I hold that stupid, greedy president Bush and his greedy cronies responsible for this mess!

    What I DON'T understand is WHY and HOW can we continue this war and the rebuilding of Iraq when our own country's infrastructure is crumbling before our eyes??! We can't afford to give them aid anymore!
    I was raised to believe that charity starts at home!!! Our own citizens are in danger now....thanks to our own stupid, stupid government!!

    I think it's time to GET OUT OF IRAQ NOW! If they all hate each other so much over there, then let them kill each other off and be done with it!!

    September 22, 2008 at 2:23 pm |
  84. RENEA,

    There is nothing they can do! For this bill to contain help to Foreign banks just because they have offices and employees that work in the US is ABSURD.That like saying to China you must Bail Out the struggling Auto Companies because they build cars and employ Chinese Citizens in your Country .All the rich greedy crooks do want o limits or regulations placed in this bill.No just fork out the money so we can get back to business as usual.And sad thing is this scam of bill will pass.

    September 22, 2008 at 2:23 pm |
  85. David

    It will require people who made the mistake of buying more house than they could afford to admit they screwed up and take the loss, and it will require investment companies and banks who bought into mortgages of people who couldn't afford them to admit they screwed up and take the loss. They should pay for it, not me.

    I am FURIOUS that because I had the sense to keep my head and not buy more than I could afford that now I have to bail out people who don't have any sense.

    What's the lesson here? Should I go into credit card debt and live high because the government is going to bail me out eventually? Who cares about saving for retirement? The government will bail me out, right? Bankruptcy here I come. I think I'll buy a Porsche. Make than three Porsches and a cruising yacht.

    David, Raleigh, North Carolina

    September 22, 2008 at 2:24 pm |
  86. Larry Gerencser,,,,,,from Pennsylvania

    All must agree that along with this bailout comes no free pass, like Bush wants for his rich pals. Companies must be made accountable with Congressional oversight and there will be no more tolerance for CEO's to take huge bonuses or parachute severance checks when these companies fail. Bush wants to give carte blanche money on his way out of office. I

    September 22, 2008 at 2:24 pm |
  87. greg_in_Oregon

    elect Obama and Biden.

    elect an overwhelming majority of Democrats to the Congress and Senate.

    September 22, 2008 at 2:24 pm |
  88. Jim in Puyallup

    Jack, maybe after I find a job I can answer your question. Have a good day all !!!
    Jim

    September 22, 2008 at 2:24 pm |
  89. Terry from North Carolina

    Jack
    When someone tells me what the plan is, whose going to pay for the bailout and how it breaks down all the way to the taxpayer. What portion of our taxes are going to the bailout , what portion is going to the war etc. This will make me feel a little better on an empty stomach and an empty gas tank.

    September 22, 2008 at 2:24 pm |
  90. Randy, Salt Lake City

    Having actual money in the U.S. banking system would be a good start.

    Then imprisoning ALL that caused the problems.

    September 22, 2008 at 2:24 pm |
  91. Vivian Fauntleroy, Largo MD

    By kicking those responsible (which includes those who didn't yell FIRE in this theater of corporate greed in a timely fashion ) and their lobbyists and supporters to the curve with nothing but their bare a##es and their two hands to scratch them with. After all, that's more than they are leaving our country and the rest of us working class patriots with.

    September 22, 2008 at 2:25 pm |
  92. lyn

    By electioning Obama & Biden in the White house. McSame & Palin will be the same as Bush and the mess will continue if McSame win this election. So America wake up.

    September 22, 2008 at 2:25 pm |
  93. ADS-Seattle

    Time. Until the bail out plan begins to take a more definite shape, and markets have an opportunity to assess and react to the plan, the economy will continue to react spasmodically. However, I think the bigger story is whether funds are available at the retail level to fund things like buing a car, or a major appliance. I have written off the real estate market for at least the next six months, until lenders have the opportunity to write loan underwriting rules that allow funding of loans to truly creditworthy borrowers.

    All of this will take time, and patience.

    September 22, 2008 at 2:25 pm |
  94. Bernie of Lowell, MA

    Our economy will improve once we've eliminated the greedy corporate guys who are there now.

    Impeach!

    September 22, 2008 at 2:25 pm |
  95. Larry Gerencser,,,,,,from Pennsylvania

    All must agree that along with this bailout comes no free pass, like Bush wants for his rich pals. Companies must be made accountable with Congressional oversight and there will be no more tolerance for CEO’s to take huge bonuses or parachute severance checks when these companies fail. Bush wants to give carte blanche money on his way out of office. I say no way!.. I would rather let these companies fail than tolerate that.

    September 22, 2008 at 2:26 pm |
  96. Tom, Bradenton, Florida

    Very simple. Impeach the current administration. Arrest the CEO's and legislators that went along with this scam including McCain one of the pro deregulation supporters. Confiscate all their belongings and return them to the American people and lock them up for life for treason on the American people. Why treason? They were sworn in to represent the AMERICAN people. Hard labor would not hurt in prison for these scoundrels.

    In addition let the banks go down the drain and support the people that are hurting the MOST. Homeowners and taxpayers. It is our money not theirs.

    September 22, 2008 at 2:26 pm |
  97. hubielee68 MS

    Get rid of the entire bush administration
    Clean house, get rid of all republicans who have supported bush the last 7.5 years to no where but too destruction.

    By the way do not elect McNobrain and McSarah

    Byhalia, Mississippi

    September 22, 2008 at 2:27 pm |
  98. Charles From Michigan

    Oversite. Don't let the GEO's of these companys walk away with Millions. And do something to help main street. If we can't get the price of gas down and get people back to work in this country then it is all over for this country anyways.

    September 22, 2008 at 2:27 pm |
  99. Ed Reed

    I'm not sure, Jack, because we keep repeating the same mistakes. First, there was the Great Depression; however, a popular politician came along and convinced us all that government is not the solution, it's the problem. Despite the following S&L bailouts, it's still been a winning political slogan. Maybe, just maybe, people will finally get it throught their thick heads that if the taxpayer is going to have to pay for the train wreck, the government should be regulating and monitoring the railroad.

    Ed Reed
    Port Aransas, TX

    September 22, 2008 at 2:28 pm |
  100. Marlene

    Confiscate the personal wealth of the CEOs and politicans who have led us into this mess.

    September 22, 2008 at 2:28 pm |
  101. Iwan

    Difficult question there is no real short term solution only long term by creating US jobs in the alternative energy industry, wind, sun, sea, bio fuel from algae and other mindbogglingly sources .
    This energy industry will focus in the near future on home use and industrial use, so we can buy our "made in the US" home windmill in a couple of months at the Home Depot for a better price then the "made in China" wind mill.

    September 22, 2008 at 2:28 pm |
  102. Bill Osler

    Apparently, it will take unprecedented amounts of U.S. Taxpayer money, shoveled into the pockets of Wall Street. President Bush couldn't deliver the $800 Billion from Social Security to his friends, so now he's threatening us with a depression, and demanding that we give him the money NOW, NOW, NOW. Every time you see his smiling face in a photo, you should remember the phrase "Thanks for the votes, suckers!".

    Hasn't anyone else noticed that President Bush II will soon surpass President Bush I in giving free money to the financial industry. This crisis will far exceed the Savings and Loan scandal in cost to thee and me.

    September 22, 2008 at 2:28 pm |
  103. Alissa in Kansas

    If Obama gets elected then, and only then, will my confidence be restored. This economic disaster is what happens when you let the Republicans have free reign in Washington. It's little wonder Congress has trouble getting anything done! They've got the right wing blocking them at every turn!

    September 22, 2008 at 2:29 pm |
  104. Steve of Hohenwald TN.

    The next president,must seek to prosicute George W. Bush, and co. Setting an example, for any future admenistration that seeks to damage our economy, and or constitution, is the only thing that will restore my confidence, in our economy, and our government. We saw this comming, he shouldn`t be there, we don`t get a do over.

    September 22, 2008 at 2:30 pm |
  105. Colleen, Weddington NC

    Impeach George W. Bush!

    September 22, 2008 at 2:30 pm |
  106. glen whilock

    when these C.E.O.s go to jail.

    September 22, 2008 at 2:31 pm |
  107. Marilyn - Stanhope

    Jack

    I hate to say this but there is very little we can do anymore to restore this economy to its former glory days. We have gone beyond the point of no return in regard to our debt. Everything seems to be falling apart and our illustrious leaders seem to be unable or unwilling to do anything about it. My children will be much worse off because of it.

    Thanks George.

    September 22, 2008 at 2:31 pm |
  108. glen whilock

    when these C.E.O.s go to jail. glen, Fancy Farm, Ky

    September 22, 2008 at 2:31 pm |
  109. Don in NC

    This one is too easy Jack'
    Elect Barak Obama

    September 22, 2008 at 2:31 pm |
  110. David,San Bernardino,CA.

    Put all the crooks who created this Ponzi scheme,including the criminals in the bush administration,in prison on a deserted island and leave them there to fend for themselves.

    September 22, 2008 at 2:32 pm |
  111. Michael, Toronto, Canada

    1. Honest, transparent and positive leadership.

    2. REAL accountability at all levels of the banking and securities exchange markets.

    3. Long term policies (not short term bailouts) that provide balance between free market economics with regulation that properly protects all stakeholders.

    and fully addressing what is truly threatening the world's economy........

    4. A long term commitment (I repeat, COMMITMENT) to a complete independence from fossil fuels.

    September 22, 2008 at 2:32 pm |
  112. Anna Jesse

    Hmm, let's name the ways the financial system could regain my confidence. We could start with not bailing out the morally bankrupt who created this problem and by allowing the American public the pleasure of watching those sharks forced into personal bankruptcy. That could be followed with some meaningful prison sentences for the chief executives who presided over this meltdown, not some mid-level management person who was following unwritten orders. Take away all the golden parachutes that were paid for with the tears and broken dreams of families who lost their homes, jobs and futures. After all, isn't this the country with "liberty and justice for all"? Unless there are serious consequences for all this misadventure, I'm afraid the past will simply be prologue.

    Anna
    Nanticoke, PA

    September 22, 2008 at 2:32 pm |
  113. Annie, Atlanta

    Removing the Republicans from all government positions, and asking them to empty their pockets before they leave.

    September 22, 2008 at 2:32 pm |
  114. Frank from Connellsville, PA

    Jack, I'll start getting confidence back when elected officials worry more about how much they SPEND. Our federal officials spend more than $1.00 for every time they take in in tax revenue. Now we are on the hook for $700-billion and no one is worried about how we put controls in place to make sure it doesn't happen again. Talk about getting ugly out there!

    September 22, 2008 at 2:32 pm |
  115. Ray, Florida

    Nothing Jack!

    I'm about to go out and buy a tent, and stock up on can good's

    September 22, 2008 at 2:33 pm |
  116. Kyle- DuPont, WA

    Only one thing can restore my confidence and that is personal accountability among the leaders of our financial institutions. I am sick of one-sided get-rich-quick scams at the highest echelons.

    September 22, 2008 at 2:33 pm |
  117. alan sheps

    Here is a question that needs to be asked. We always hear how all these giant financial institutions pay the least amount of Federal Taxes based on loopholes, etc. Does this mean that we are now bailing out these great institutions that don't pay their fair share of taxes, with hard earned taxpayer dollars? What wrong with this picture?

    September 22, 2008 at 2:33 pm |
  118. Greg in Cabot AR

    The only thing that can start to restore MY confidence in the U.S. financial system is for someone, somewhere, or anyone, anywhere, whether it be from Wall Street or the Halls of Congress to stand up and admit they made a mistake.....period.....

    The problems cannot be fixed until there is an admission by all the players involved that they failed to do THEIR own assigned job instead of laying the blame at someone else's door step.

    September 22, 2008 at 2:33 pm |
  119. Zacka Silberman

    In China, the amount of embezzlement required to get you shot is, I think, $100.000.
    In Iran, at much lower thresholds, the only "severance" practiced is for either the right or the left hand to be severed .
    Here, the big question is which hand they used to grab the bonuses and which hand will be used to grab the severances.
    That shows a truly civilized and polite society. Good luck ahead.

    Zack Silberman, Toronto

    September 22, 2008 at 2:33 pm |
  120. Sarah/ Florida

    I have lost all confidence. Maybe 5 years from now I can regain some. Anything to protect taxpayers will be helpful and appreciated.

    September 22, 2008 at 2:34 pm |
  121. Vernis Robertson

    When the Bush administration leaves office ,

    September 22, 2008 at 2:34 pm |
  122. Karen - Nashville

    Easy one, Jack. I want my money back.

    September 22, 2008 at 2:35 pm |
  123. donna myrtle beach, SC

    Full open investigation into the robber barons who, in collusion with the Bush regime caused this mess. Trials and imprisonment would help. Then a democratic president and congress, with thier record of putting main street above wall street we shold recover in a decade or two.

    September 22, 2008 at 2:35 pm |
  124. Kel in Auburn, AL

    Kicking the GOP out of the white house. This happened on their watch because of the de-regulatory views of people like John McCain. Get the GOP out and you'll see this country turn around. Like you said, Jack - Their party is no longer relevant. It's no wonder their symbol is a feeble-looking 73 year old man who's had Melanoma 4 times.

    Somebody please take a look at the reality of our country's direction. It's ugly, but there it is.

    September 22, 2008 at 2:36 pm |
  125. Jeremy: Port Huron, Mi

    When FDR is resurrected and elected to his fifth term as president of the United States.

    September 22, 2008 at 2:36 pm |
  126. Christine Lindberg, Edmeston NY

    It will take a trip back in time to the Clinton presidency. OK, that's not gonna happen. So how about a contrite admission by the Republicans that they've done everything wrong that could possibly be done wrong and that they're ready to sit this one out. Hell, that's not gonna happen either. In other words...Democrats & Independents: let's get off our collective butts and make some serious waves this November.

    September 22, 2008 at 2:36 pm |
  127. RLouden

    We need real leaders to step forward into the spotlight.
    Leaders from the community, business and politics.

    Having just political leadership is not enough.

    We need real information about the real problems.
    Not a gloss over of a general situation.

    We as a nation also need to just relax.

    September 22, 2008 at 2:37 pm |
  128. kenneth sibbett

    Jack, we would be better off putting our tax dollars in the state lotteries and taking our chances. Maybe a better idea is a national lottery, we couldn't do any worse than those bozo's in washington.

    Kenneth Chadbourn N.C.

    September 22, 2008 at 2:38 pm |
  129. Ramon Lora

    This country economy crisis, is running like third world country. With any control of goverment money. This administration had made alots dicision with going to the congress for approved, just like Irag war in which tax payer are paying 10 billion plus a month. 10 billions time 60 months = $600 billion plus. Stop the war and bring the soldier back.

    September 22, 2008 at 2:38 pm |
  130. Bill, Virginia Beach

    First, rather than the Bush Administration using $700 Billion to cover bad business decisions of financial institutions, Congress should require all bad home loans to be rest to the original terms and conditions. The borrowers will not loose their homes and the financial institutions will have lower profits, but the American tax payer will not being stuck with moose poop!

    Second, the American people need to understand that the Republican party is not fiscally responsible and for low taxes. The Republicans are increasing taxes on children, grandchildren, and the unborn by creating huge National Debt.

    Second, regulations, auditing, and accountability. Republican deregulation is fiscally irresponsible.

    Fourth, nobody should vote for any Republican down to dog catcher. We need to send them a message. We can work to make it easier to have additional choices to vote for in future elections.

    September 22, 2008 at 2:38 pm |
  131. Bill Summerfield, Fl

    It will take a non-political and independent board of experts on the economy and U. S.and international business affiars to set controls and provide oversight of every penny spent on this bailout. Safe guards and limits regarding executive salaries, uses of the money, and payback terms must be established BEFORE the plan is approved. No more blank checks. There must be accountability. I'm not sure this will solve the problem, but at least it's a start and better then running in to Congress on Friday night in a panic asking for a quick, clean deal with no controls attached. Who does this President think he's kidding? " Do it to me once shame on you. Do it to me twice, shame on me."

    September 22, 2008 at 2:38 pm |
  132. anthony Patillo

    I am so disgusted with "political leaders" in Washinton..lets see if I have this right this is the same group that voted the Patriot Act without reading it because the president needed it, the same group that voted for the Iraq war, now the same group wants to "bail" out the richest of the richest , let them walkaway pocketing the billions in profits and then let us hold the bag of their bad debt. Oh yes we have to do it this week so we can go on vacation...I wish they would grow a set and do the right thing for us middle america and our grandchildren. but hey we are not lobboyists are we?

    September 22, 2008 at 2:38 pm |
  133. Josh (Waipahu, Hawaii)

    Time.
    This problem didn't happen overnight; it's not going to be fixed overnight. The worst thing that can happen at this moment is a kneejerk reaction from Washington that creates an inefficient, unwieldly system that will become the new norm.

    September 22, 2008 at 2:38 pm |
  134. jon hoffman

    When the bailout plan is actually in place and with the bad home loans purchased by the USA. Legally, the Gov't is then the lender who can re-write the loans so many can stay in their houses, make payments they can afford and repay the Gov't when they sell in 5-7 years. When there are county by county loan adminstrators who review home loans for fraud, over reaching and corruption by both lenders and borrowers. All of this brings economic certainty and from certainty we acquire security and trust.

    Jon in Calif.

    September 22, 2008 at 2:38 pm |
  135. Katiec Pekin, IL

    By voting every republican out of office.
    They have criminally supported policies that have almost
    destroyed our country.
    Our country cannot survive the continuation of big business,
    special interests, the wealthy running our country, and
    that is who and always will be who the republicans
    represent.

    September 22, 2008 at 2:38 pm |
  136. Colleen, Weddington NC

    By getting us out of the war in Iraq and taking that money and paying off the debt. By cleaning house and getting rid of the current administration. By increasing tax to those in the top 1% and creating a financial infrastructure that will allow us in the middle class to live better fiscally than our parents did. By increasing green jobs. By helping MAINSTREET not Wall Street. We can do a lot to increase my confidence in the economy. We can only go up-this (I hope) is what they call hitting bottom.

    September 22, 2008 at 2:39 pm |
  137. donna myrtle beach, SC

    Forget it' it's over. We need to accept the fact that the Bush regime, with thier corporate owners have destroyed us. We should convert to euros, understand that we're world citizens no longer world leaders, shut up and hope history learns from our example. God help us all.

    September 22, 2008 at 2:39 pm |
  138. Lee Wilcox

    When our nation was founded, it was one of the first in the world that allowed people to vote of their leaders. Between that and the individuality of our states, an electoral college was established with two thoughts in mind. First, it gave states with higher populations more votes and it also acted as a safeguard against a society who might not cope with a voting priviledge. To my knowledge, no other democratic nation in the world uses any other system than popular vote.

    In the year 2000, the popular vote was substantially won by Al Gore and yet G. W. Bush became our President. As a consequence, we now face the largest financial crisis since the depression.

    Would people now want to convert our system to a popular vote only system or stay with the same old limited method?

    September 22, 2008 at 2:40 pm |
  139. Jan NY

    It is going to be pretty hard. I don't know if they can. A start might be to throw the Republicans, who have squandered our money and future big time, out on their snouts. Then regulate regulate, regulate.

    September 22, 2008 at 2:40 pm |
  140. Neil Hart

    Dear Jack,
    Every fund I ever invested in came with a warning: "these investments are not secured you may loose money". Who do you cry to when you made money? Let the loosers bawl in their beer, pick themselves up by the bootstraps and save themselves. As Sarah Palin said about the bridge "if we want it we will build it" let the financial geniuses that broke it fix it, Sarah would want it that way.
    Neil, LaGrange Indiana

    September 22, 2008 at 2:40 pm |
  141. Bruce in Bend OR

    My confidence will be restored when the responsible administration people, the wolves on Wall Street, and others who have robbed the citizens of the US and savaged our economy for personal gain are indefinitely incarcerated at Guantanamo.

    September 22, 2008 at 2:41 pm |
  142. Geri Britt

    Jack, how can one's confidence in the economy be restored when what we are all witnessing is "The Biggest Bank Heist of the Peoples Treasury" ever perpetrated in human history? What's more, it is being perpetrated by bankers and money brokers. The very people who tell us to be responsible with our money and our credit. The creedo of the banking industry is: If you pay you stay. So let it be written, so let it be done for the banks and investment companies as well.

    If Congress agrees to this bailout then they are in breach of their fudiciary duties and are continuing to be negligent in their responsibities to protect America and specifically the American people. Congress as of this moment includes Senators McCain, Biden, and Obama.

    Do the American people want to owe their souls to Japan, China, Saudi Arabia, and Great Britain? Because this is where we are going to get the money to bail out Wall Street, a street that has no soul?

    Geri – Mead, OK

    September 22, 2008 at 2:42 pm |
  143. Bill in St. Louis, MO

    Take a cue from the French in the late 1700's. Overthrow the self-serving aristocracy and install a true government of the people, by the people and for the people.

    September 22, 2008 at 2:42 pm |
  144. Lynn, Douglas, Georgia

    -Impeach Bush, jail him and those who have LIED to the American public repeatedly.
    -Obama in the White House.

    Those 2 things would be a good start, but the short answer:

    NOTHING.

    September 22, 2008 at 2:42 pm |
  145. DT-Phoenix

    First, completely disband the GOP and the IRS and my taxes mean nothing the way the GOP controlled government wastes them. Secondly, raid the assets of all the rich right wing extremists who supported Bush's and use that money to restore the US Treasury. Third...absolutely no bailout for wall street. Fourth, have Iraqi oil revenues restoring the US treasury. After all, Bush told the American public that oil revenues would pay for his private litte war that Bush and Cheney waged against Iraq. Lastly...throw all of these deregulation, GOP, corporate socialists in prison for life.

    That would be a nice start.

    September 22, 2008 at 2:42 pm |
  146. Marie Canada

    You likely won't like this comment but the state of the U.S. right now is eerily like the state of the Soviet Union just before it broke up and with the invasion of Aghanistan by the Soviets being the final straw that broke the camel's back it doesn't look good for America without some drastic changes being made very quickly.

    Russia today has some of the richest people in the world but with most of their population living in poverty and almost no middle class whatsoever.

    Maybe what the question should be what will America look like a year from now if wrong decisions are made before this year is out.

    September 22, 2008 at 2:42 pm |
  147. Marjorie Lominy

    Have the election tomorow and fire theGeorge Hoover Bush Administration for incompetence.
    Marjorie
    NY

    September 22, 2008 at 2:42 pm |
  148. John Luke Flyinghorse Sr.

    Jack, I would like to have our house house back and our good credit rating reinstated!
    In February of 2007 we lost everything because we were mislead by our bank and the financial institution that backed the bank, and I am angry.
    I think folks like us who lost big time are being over-looked by both parties candidates and the big bail-out whiners in Congress.
    We don't need Lobbyists lobbying to make a profit over what we've lost because how do you give back 59 years of ones life?
    If anyone can answer that I'll vote for them!

    John Luke Flyinghorse Sr.

    September 22, 2008 at 2:42 pm |
  149. Emma, San Jose, CA

    Because of the businesses we helped make profitable with us being ripped off by them, they are being rescued by taxpayers. We need a government that does not let us get even more ripped off for their failure to regulate themselves. We need to seriously modify the lack of regulation by George W and Republican votes against any watch dog, as in McCain and his ilk.

    September 22, 2008 at 2:43 pm |
  150. Larry (Houston Texas)

    # 1. Elect a Democrat this time, instead of the same old / same old.
    # 2. I think it will be at the end of the week before they come up with anything. Mainly because there will be gridlock, as usual. And Bush will Veto anything & everything he sees that he doesn't agree with.

    So, – the bottom line: Washington as usual. & the stock market will go back & forth / up & down. The way it's been happening, for the last several years.

    September 22, 2008 at 2:43 pm |
  151. John Topock, AZ

    Want to know what would restore my confidence in the economy? Elect Obama President and a democratic congress. The thought of John McSame being elected President, with Sarah Palin standing by his side for four years, and the incumbent republican and democratic members of congress bellying up to the public trough in Washington for another four years makes me want to gag.

    September 22, 2008 at 2:43 pm |
  152. Jon, Austin, TX

    Once McCain is NOT elected president, AIG has a real plan to pay off its loan debt, and once the dollar is actually worth something around the world.

    September 22, 2008 at 2:43 pm |
  153. John, Fort Collins, CO

    I won't even begin gaining confidence in the U.S. economy until we have a new, capable president, surrounded by a staff of exceptional financial and economic advisers. Watching George Bush load a trillion dollars into a cannon to attempt to blow away our economic problems is too reminiscent of his war in Iraq. I don't see any real plan for success.

    September 22, 2008 at 2:43 pm |
  154. DC, Connecticut

    It won't be by only adding or re-instating regulations. There has to be real enforcement. It has been too easy for businesses to get passing grades for compliance to requirements with examples that are exceptions rather than with what is how they actually practice business the majority of the time. The financial services industry is the current focus, but if I extrapolate from my own experience, executive greed that compromises ethical judgement has undermined the integrity of a large number of corporations in the U.S. Let's see some real action on making corrupt executives accountable.

    September 22, 2008 at 2:43 pm |
  155. Lynn, Douglas, Georgia

    OH-trying to get back to the gold standard would be a good idea TOO!

    September 22, 2008 at 2:44 pm |
  156. Mary - California

    To get rid of the corruption in Wallstreet and the Hill. Cut out outrageous spending and quite taking the American people for "pushovers"!

    September 22, 2008 at 2:44 pm |
  157. Paul

    A good start would be for the chosen ones in charge to hurry and agree to a begining to fix this thing with the bottomless bail out for now. To place more controls and stop ALL short selling of stocks.
    Why let any company be destroyed by this practice. For everyone to put on their thinking hats and take off their party hats. Americans can do anything if we only try and all work together. Also Jack all breaks on Capital Hill need to be delayed until this is fixed or they really need to see the light at the end of the tunnel it WILL be a train and they all will be out.
    Paul
    Round Rock, Texas

    September 22, 2008 at 2:44 pm |
  158. Dan Lake

    If an average citizen breaks the law, there is legal recourse. I will only gain confidence when people who break the law go to jail. As it is now, there is not even an investigation, just give aways of tax payers dollars and buy outs to executives to go home. Where is the justice?

    Dan in Ohio

    September 22, 2008 at 2:45 pm |
  159. Vinnie Vino

    Jack,

    It will take new competent leadership at the top level of our Government by an individual, like Obama, who can realize that any tax increases on the lower 80% of Americans tax payers is more burden-some to our economy then it would be to the upper 20% of tax payers and big businesses...

    C.I., New York

    September 22, 2008 at 2:45 pm |
  160. Jerry,OK

    Jack, Roosevelt pulled us out of the great depression with little economic knowledge, but with a big vision for our future. America needs such a leader today. Unfortunitly, we have GW.

    Jerry N/Tulsa

    September 22, 2008 at 2:45 pm |
  161. clementine

    give every adult american 1millon dollars,and let the people put thier own money in the bank, pay thier bills, pay off their own homes, that will give a the economy the boost need, Start building from the bottom up

    September 22, 2008 at 2:46 pm |
  162. Barry

    In order to restore my confidence we need to see the government curtail the multi million dollar bonuses and pay rates to those companies the government has bailed out. The taxpayers have footed the bill for the mistakes and opulence of those in the finanical sector. The government needs to prove it can show dilligence and frugality in rewarding the so called financial specialists.

    September 22, 2008 at 2:46 pm |
  163. Jennifer W (Burlington, IA)

    Jack,
    My confidence will be restored when the democrats succeed in making sure that the CEO's and other executives don't end up walking away from this bailout with huge severence packages in the millions. When we bring accountability and transperency to Wall Street. Why should we bail out Wall Street and leave Main Street to get hosed?

    September 22, 2008 at 2:58 pm |
  164. Sam

    Wow, I'm looking at the markets on CNN and see that oil has jumped over $20 per barrel. So let me get this straight, I'm forced to survive in this economy (no bailout for me!), while the Feds take $700 billion tax dollars and bailout the greedy bankers that created the mess, and now the one bright spot (falling oil prices) is sky rocketing because these wealthy bailed out investors are back to the oil markets with their new found wealth. George, you've done it again!

    September 22, 2008 at 2:58 pm |
  165. Joann Locascio

    Nothing is going to restore our faith in the economy if they lay the burden of the bailout on all Americans who the majority of, are working Americans making under $100,000 a year. They should raise the taxes on every American making over $300,000 a year, you know, the ones who have made their fortunes in the markets that us regular people can only peer at through the fence.To think that the speculators have made a run on the oil market today, to the detriment of working families is further evidence of what is wrong with the markets. The CEO's and top people of these companies should be booted out and lose their homes like so many of other people who probably made bad some decisions. They are the real victims of the bankers unregulated free for all. Corporate welfare for corporations and they balk at sending $100 to a single mother to help feed her child. So much for the republicans and smaller government, the same government they turn to to bail them out from their screw ups!
    Joann
    Hamilton, Ga

    September 22, 2008 at 2:58 pm |
  166. Marion C Bell

    My confidence will begin to be restored when the ratio of CEO salaries and bonus packages are more realistic with the working mans' pay. It is ludicrous to pay a CEO 4000% over and above a blue collar worker. Maybe now people will realize the importance of the blue collar workers who will be needed to rebuild our collapsing infrastructure.

    September 22, 2008 at 2:58 pm |
  167. Mark Cowan in PA

    We need to take a lesson from China-since they hald the paper on 40% of our debt, and imprison and execute executives in the Banking industry who's greed got us to this point. Then I guarantee this will not happen again. If we go into a full depression in the next two years like it took for the first depression to fully develop, remember people didn't just loose thier homes in the early 30's some actually died. This not just a civil suit question, its criminal. We can also start now by electing Obama, we all know McCain was in bed with banking lobiests for the past twenty years-remember the Keating Five!

    September 22, 2008 at 2:58 pm |
  168. michael from riverview florida

    How about Sarah Palin keep calling it the "PALIN McCain ticket." their was more applause and buzz from this florida croud when she said that than there was when she made an attempt to talk for TWO seconds about the economy.

    September 22, 2008 at 2:58 pm |
  169. Larry - Santa Monica, CA

    Since I haven't had any confidence in the US economy for the last ten years or so, the question of restoring it is moot. I will feel a little more confident when I see the foreclosure signs come down and people, who are now out of work, getting jobs.

    I'm a retiree and I have already accepted that over the next ten years the value of the savings, which I depend on, will shrink significantly. The greedy and foolhardy will again be rewarded and the thrifty and prudent will be expected to come to their rescue.

    The U.S. will always be the land of the ant and the grasshopper. it is deeply ingrained in our national culture. If there is some sort or obligation for the marginally more fortunate to give, our political and business leaders are making sure I meet that obligation. I just wish it was going to the right people.

    September 22, 2008 at 2:58 pm |
  170. Bob from Ky.

    What will it take to restore confidence in the U.S. financial system?
    A Good Moose burger with cheese and a tall glass of ice cold milk. A Snowmobile in every garage and that guy.What's his name?You know someone that will look the other way for another 4 years.Poor little rich people.Or just figure out how to eliminate Greed.

    September 22, 2008 at 2:59 pm |
  171. Lynda

    By electing a man (Obama) as president that thinks before he speaks.

    I would like for Bush and Cheney to be impeached and possibly imprisioned for the travesty that they perpetuated AGAINST the people of America. ENRON, WorldCOM, WMD, treachery at the Justice department, betrayal of our CIA agents, an unjustified war, the death of thousands of our American military, don't forget the Harriet Myers debacle, and now the downfall of our American economy. Aaron Burr has nothing on George W., and John McCain promises more of the same.

    Just like America did after Hoover's mess, by electing FDR, we should clean up Bush's mistakes (????) by electing Barack Obama for president.

    September 22, 2008 at 3:00 pm |
  172. Harry

    Is that confidence you speak of a noun or an adjective?

    I submit that the current financial crisis is the result of a vast confidence scheme.

    I further submit, that I have a great deal of confidence in my assessment.

    Take your pick.

    Harry
    Ky.

    September 22, 2008 at 3:00 pm |
  173. Dennis Toms

    The traitors and silent terrorists who are responsible for these events are receiving Golden Parachutes and compensations and they need to be brought to justice for this mind boggling injustice. Just because they did not use bombs and artillery does not mean they did not use weapons of mass destruction. Is this not a form of terrorism? And if we bail them out and let them keep these ridiculous amounts of compensations then is our government not aiding and abetting terrorists? These greedy, low down, scum of the earth animals need to be placed in stockades in public places and receive any form of punishment that their victims choose to use upon them. May God have mercy on their souls?

    September 22, 2008 at 3:01 pm |
  174. Dan Nelson Lafayette,IN

    Confidence in the financial system? What have they done for the poor that do not or cannot get a loan or buy stocks? The bail out should go to the poor who have no opportunity to get involved with the stock market or the big banker's money! They should just be left to fend for themselves like we the poor have to and give that nearly trillion dollars to the poor and then you would see the economy revive because they won't hoard it or use it for a profit no they would use it so that they could afford to buy the things that those in the financial markets already have like a car or house and maybe feed and clothe their families for the month. The poor need it more and it would be the more Christian thing to do!

    September 22, 2008 at 3:01 pm |
  175. Bob from traverse city Michigan

    When I hear Limbaugh and Hannity and fox news complaining about what the government is doing I know we'll be on the right track.

    September 22, 2008 at 3:01 pm |
  176. Amy

    Make Wall Street go on the Dave Ramsey plan...
    Eat beans and rice.
    Sell everything you own on eBay or yard sales ,
    and stop spending.

    September 22, 2008 at 3:01 pm |
  177. Mike N. Calif.

    My confidence will be restored when people start finding CEO's and throwing pies in their faces! M. Cloud

    September 22, 2008 at 3:01 pm |
  178. Roland from St George, UT

    Two words, Jack.
    FLAT TAX.

    September 22, 2008 at 3:01 pm |
  179. Ruth Kobbe

    The banks are so big that they cannot be allowed to fail. The rest of us are so small that it doesn't matter if we fail. Instead, we have to work for the banks.

    I have no confidence. Manufactoring is overseas. What we buy is made in China. We're in debt beyond belief. What is left to have confidence in? We, the ordinary people, cannot recover. Yet, when we have paid off the bills for the banks, we will be told that the economy is once again in good shape.

    Ruth in Indiana

    September 22, 2008 at 3:01 pm |
  180. Louise

    I'd like to see the Gov. working for the same minimum wages that they expect so many Americans to feed their families with. If they would do this maybe they would understand what we have been going through. It would also show that they are willing to come back down to the level they have sent the rest of soaring through for the last several years.

    September 22, 2008 at 3:02 pm |
  181. Bill, Quarryville, Pennsylvania

    My confidence can be a restore by getting rid of the trickle down theory, that I have yet to feel a drop from in the past eight years. We have seen what happens when you give money in the form of tax breaks to the rich and expect them to create more jobs, which they have only not in this country. This is what the republican party and McCain believes and is one of the reasons I will not be voting for him. Being called a whiner and telling us that the economy is fundamentally strong doesn't help my confidence either, especially from what we have witnessed in the last several weeks.

    September 22, 2008 at 3:02 pm |
  182. Jay Poynte

    I don't see how our confidence can be restored in our economy unless those who cheated people and pocketed millions go to jail. Yeah...like that's going to happen.....

    ( And remember folks: MC CAIN – PALIN – BUSH....same thing )

    Virginia Beach, Va.

    September 22, 2008 at 3:02 pm |
  183. decarlo (oakland, ca.)

    The way i would gain faith in the u.s. economy is to let the system fail and start everybody back at zero or close to zero in their debt. remember this has happened because these monopolies exploited the same people who are now going to have to bail them out. This started because wealthy people set up the poor to fail with things like variable ARM'S, health and property insurances that refused to pay out.

    The only ones who would not be eligible would be the international or national multi-billion dollar monopoly conglomerates who have increased their profits for shareholders and offshore accounts. Why should i have to pay for the faults of private business. The motto i remember of the republican party was "smaller government". Let's follow their lead and let businesses fail and start over with companies who actually care about this country, its environment and the citizens within it. If i'm going to bail out a company or companies i want to see those companies donating generously to public education and the environment and local government. that has not occurred with the companies we're assisting.

    Let's face it,we are going to pay for insurance monstrosity that wouldn't cover me if i was in crisis. This is one of the most disgraceful moments in u.s. history and most people are less than slightly bothered.

    September 22, 2008 at 3:02 pm |
  184. Carolyn

    Before we bail out any company their CEOs, etc. need to return those multi-million dollar bonuses they received. I don't receive bonuses and in today's economy a raise is all but non-existent. Why should my tax dollars go to pay their these ridiculous bonuses?

    September 22, 2008 at 3:02 pm |
  185. Jim Amstutz

    Jack,

    When financial institution start to lend money to qualified borrowers, I will start to feel better about this whole mess.

    When greedy executives are fired without their "Golden Parachutes," I will think that we are making making progress. The idea of rewarding greed, fraud and incompetence with millions of dollars instead of jail time is unfathomable to me.

    Boulder City, NV

    September 22, 2008 at 3:03 pm |
  186. Patricia

    Won't happen so long as a Republican is in the White House.
    Patricia
    Palmdale, Ca.

    September 22, 2008 at 3:03 pm |
  187. C Smith

    Confidence in our government and their ability to restore our confidence in anything??? This is a foreign concept. It will take getting the Bushies out of the White House...this includes keeping McCain and his cronies out of power as well. Mayor Bloomberg had a good point on Meet the Press yesterday. We should not allow the CEO's and CFO's of all the financial institutions in trouble to take one red cent from the "bail out" the taxpayers are providing. They should not be rewarded for their poor performance when those of us earning less than $200,000 per year are paying for their blunders.

    September 22, 2008 at 3:03 pm |
  188. Linda, Ruther Glen, Va

    Jack, these are trying times with lots of American very upset with what is happening. We need jobs not bail outs. The mortgage crisis would end if people could find jobs. Those practices of financial business that have put themselves in this crisis should have known better. Appears we need more controls in this country so that those that cause havoc can not continue. Main street needs some attention. Unemployment benefits need to be prolonged so that homeowners do not lose their homes. This crisis will never end as we continue to have home ownership in trouble. Our politians need to be held accountable, and they have not been. Those CFO/CEO's need to be held accountable. If this happens, I could gain some confidence. Too bad it won't happen in an administraction that hasn't been held accountable. They are too inter-related just like police who stick together to break the law themselves. It's time for change, I just hope its not all talk and that change really plays a part to restore all of our confidence.

    September 22, 2008 at 3:03 pm |
  189. Barbara - 65 yr old white female in NC

    It can't Jack.

    September 22, 2008 at 3:03 pm |
  190. Lisa in Shelton

    Jail those who knew for a long time that failures were mounting and hid the truth from accounting and the media. If the CEOs in those bankrupt companies lose every dollar they already earned from those companies and the bailout makes sure they get no compensation – no salary, no bonuses – before the mess is fixed. First and foremost though, don't elect McCain who voted for all the deregulation while he needed to, and yet is calling for regulations (to appease the horrified public) despite his recent assertions that the fundamentals of the economy are just fine.

    September 22, 2008 at 3:03 pm |
  191. Rosa Lake City,SC

    If the republicans had voted to pass a stimulus package and Bush not veto it,that would have help the people who were getting laid of from jobs going over seas then we probably would not be having a mortgage crisis why can,t all these economist not see this, i'm not one and i see it. Why the people who really count in this so call democracy always seem to be over looked and not counted. i am sick of it.

    September 22, 2008 at 3:03 pm |
  192. Terrence , NC

    Jack, how about prosecuting those who cause this problem and get some of that money back. People will think twice if they new they would end up a fellon and could not work for more than $8 an hour the rest of their life.

    September 22, 2008 at 3:05 pm |
  193. Jim

    Jack, Those responsible for the economic meltdown do not want our financial systems restored. They want to bring down our popular social programs by default since they could not vote them down in Congress. They hate Soc Sec, Medicare, Public Education, Taxation, etc., and used the Iraq War to bankrupt the Country, and being the savy folks they are got rich on the war in the process.

    September 22, 2008 at 3:05 pm |
  194. Mike

    The simple answer is no more Republicans in office ever. I'll be confident when that happens.

    September 22, 2008 at 3:05 pm |
  195. Mike N. Calif.

    Hey jack How about you News people list on a website the names & addresses of all Ceo's which have been over compensated in the last 5 yrs???

    September 22, 2008 at 3:05 pm |
  196. AJ DE

    An Obama administration

    September 22, 2008 at 3:05 pm |
  197. Anne/Seattle

    Time and intelligence. And at 61, I don't think Ihave enough time to see intelligence overtake avarice and greed.

    September 22, 2008 at 3:05 pm |
  198. Bernie of Lowell, MA

    We got bogus messages of WMD, terror attacks imminent,...

    We got forced into the Patriot Act by that fear, too.

    I'm having a hard time trying to figure out whether George W. Bush is telling us the truth now – or just using the 'fear factor' once again to 'rob us blind'.

    September 22, 2008 at 3:06 pm |
  199. Larry from Georgetown, Texas

    Nothing, We now have a plastic coffee can buried in the back yard to save our little nest egg and we get just about the same interest that we get at the bank since the Republicans have been in power plus we know it's safe.

    September 22, 2008 at 3:06 pm |
  200. Cliff

    When the Legislators and many politically motivated Media and pundits stop playing politics economic situation we are in

    September 22, 2008 at 3:06 pm |
  201. D.J.Lauter

    Our economy can only survive if we keep McCain and Palin out of the White House.
    With McCains lack of knowledge.... and calling for de- regulation which got us in this mess, and Palin with more earmarks than any other state, and leaving her town in debt for the sports center. .... Two court cases going on where she has been involved.
    They have demonstrated that they know nothing about running a country.
    Doris
    Ojai, california

    September 22, 2008 at 3:07 pm |
  202. Michael from California

    If the government wants to restore my confidence, they need to do the following:

    1) make responsible decisions.
    2) work together to solve our problems and stop bickering.
    3) work for the millions of Americans that need help, not special interests.
    4) spend time actually listening to the people in your district.
    5) behave like the leaders that we expect you to be.
    6) be honest, we don't exptct you to know everything, but be willing to find out about that which we ask.
    7) make the problems in this country a higher priority than those in other countries.
    8) realize that we must work collectively with other countries.
    9) improve our image abroad.
    10) give the American people a reason to believe that our government is worth our trust.

    September 22, 2008 at 3:10 pm |
  203. Weezie in Eureka, CA

    In the spirit of duping Americans silly in order to obtain power and riches, I would be so happy if the country were to suddenly rally around the idea of stopping the senseless wars in order to obtain immediate funding for the bailout. The burden would then "trickle down" to where it belongs, scraping up neocon profiteers ala Haliburten and Carlile, and plastering their phone numbers all over your bathroom walls. You know, "If you want a good time with the money that was stollen from you, just call Hali at 555-5555."

    I truly believe now is the perfect time for Americans to unite in this fight! Restore our dignity and show them what justice for all really means to us.

    Write your congress person till you're blue in the face, good people! (And if John reads this comment on air, I'll tell everyone it was his idea!)

    Love ya John!

    September 22, 2008 at 3:11 pm |
  204. Mike

    Bail out the current economic mess to keep the sovern nations from coming in and buying up our choice businesses for pennies on the dollar ...But ,Seize the assets of the Crooks that caused this mess in the first place.Display their heads on a pike in the town square, and boot "Dubya" to the curb like the Bumb he is!
    Am I making any sence to anyone ?
    Is ther anyone out there who gives a damn?
    Is any one paying the least bit of attention here?
    Testing 1-2 Test ,Test , Test...Is this thing on?
    Hello?

    September 22, 2008 at 3:11 pm |
  205. Gary Illuzzi

    Fair trade practices might be a good place to start–at least then perhaps we can re-establish some meaningful business and job opportunities other than flipping patties or stocking thongs at Walmart. I heard Rush say that we need more accountability–not regulation. My question is, how do we constitute accountability when the big-wigs walk away with millions and people who never should have purchased a big house in the first place can simply walk away from their homes? This whole situation blows for middle-aged, middle-class shmoes like me...

    September 22, 2008 at 3:27 pm |
  206. paula

    Jack
    Impeaching George Bush Thats all folks.Obama/Biden White House
    paula
    clifton

    September 22, 2008 at 3:27 pm |
  207. Brian

    Trillion dollar bail-out, they are trying to re-inflat the tire before they fix the hole.

    September 22, 2008 at 3:29 pm |
  208. Keith

    As we spend 700 mil on the bank bail-out. Why is this not the start of 100% transparency in the board room. All I have seen lately on the news is; both sides in congress will vote on the 700 mil after hearing the breifing on what will happen without the bail-out. What will happen.... what did they hear that is so bad?

    September 22, 2008 at 3:29 pm |
  209. John Kendall

    U.S. business flight to foreign nations, aided by subsidies from our Federal Government to utilize cheap labor have succeeded in disrupting the U.S. Economy. Let these banks fail with their bloated executive pay. They can pump gas like the rest of us for third country wages. The new businesses which will replace them will concentrate on the needs of THIS country, not just the filthy rich internationalists. By the way, Socialism is infinitely better than Republican FASCISM!

    September 22, 2008 at 3:30 pm |
  210. Susan from Ga

    By getting the Republicans out of the White House.

    September 22, 2008 at 3:30 pm |
  211. Dorothy Markus

    I have mixed feelings about the government's plan. On the one hand, it has the look and feel of the death of the capitalist dream by a bunch of socialists. On the other hand, there seems to be no real workable alternative. It is also a real gamble – I hope we all win big!

    September 22, 2008 at 3:30 pm |
  212. Beverley, Fredricksburg Va

    Jack,

    Everyone with their hands out should have to do community service to the Country for three years! They could coach, teach, run a non-profit organization, or volunteer for hospitals. You know, Jobs American' can't do because they are working two jobs trying to bail out these bozos!. Maybe if the powerful had to rub shoulders with the citizens of the Country they'll think twice from robbing us blind the next time a Republican is in the white house.

    September 22, 2008 at 3:31 pm |
  213. pete in hamilton ont

    america pays out $400 billion per year for the interest on their loans. if oil producing countries demand payment in euros instead of the american $, then its goodbye my friends.

    September 22, 2008 at 3:31 pm |
  214. L.

    Change the current party or government. Simple as ABC. If you want a better economy – vote for Obama or the Democratic party. If you want a worse economy, simply vote for Mccain.

    L.
    Always Simple
    Pullman, Washington State

    September 22, 2008 at 3:31 pm |
  215. Steve Clark

    Jack, unless the persons that OK'D these loans, and the packaging of them being sold to Wall Street Investors are taken to trial, things will not change. There were rules and regulations in place which were not followed. If the law was broken the persons must face trial.
    As for the BAILOUT, how can a leader that told the American public that the Economy was strong for the last two years expect us not to want safeguards on what he is proposing. The average American is a lot Smarter than he is. He has taken this great Country down a path that it is going to take decades for us to recover.

    The Clarks
    Norco, Ca.

    September 22, 2008 at 3:32 pm |
  216. Esmond L. from FL

    Jack,

    You can start by letting failing companies fail and not using tax payer dollars to buy depreciating "radioactive assets." If the investments were bad investments from the beginning why would we want to transfer the risk of those bad bets to the people. Common sense anyone?

    September 22, 2008 at 3:32 pm |
  217. Kevin

    I have little confidence in businesses and the government. So how about a bit of foresight to help me regain confidence? I want government foresight that can predict a crisis and stop it before it swells to massive proportions.

    3 million homes foreclosed since 2006. The government could have paid every troubled homeowner $2000 per month ($72 billion per year) to avoid these foreclosures. That would have been nowhere close to a $700 billion bailout. But that's hindsight.

    Kevin, Maryland

    September 22, 2008 at 3:32 pm |
  218. Patty.D. Bristol, Pa.

    Dear Jack, I don't think we can do anything at this point. We are now in free-fall. Bush has failed us again. By deregulating and depending on trickle down economics, we have been fleeced by the politicians and Wall Street. Isn't Karma grand!

    September 22, 2008 at 3:32 pm |
  219. Ed from Durango, Colorado

    When an accountable government regulates accountability and over sight into the financial sector.

    September 22, 2008 at 3:32 pm |
  220. William in Sanford, N.C.

    Declare everybody debt free and start all over again.

    September 22, 2008 at 3:33 pm |
  221. Jerry Moore

    To borrow a line from the movie "Wag The Dog".

    "When the fit hits the shan somebody's going to have to stay behind after school."

    September 22, 2008 at 3:33 pm |
  222. Don Vandenburgh

    In review of past history of " government management" I have about a
    -5% confidence level that they will fix the U.S. financial system. The only way the USA will raise back to the level of a superpower is to get rid of all the dead wood lawyers in Washington and replace them small business people who know how to manage. Frankly I am feed up and just moved all my stock into a guaranteed income fund!

    September 22, 2008 at 3:33 pm |
  223. Cynthia

    It can and will be restored when the country elects Senator Obama. If Senator McCain is elected – all we have to look forward to is more of the same as far as the economy goes or worse. Remember, Senator McCain clearly doesn't understand the saying "It the Economy Stupid".

    September 22, 2008 at 3:33 pm |
  224. andrea from las vegas, nv

    First do away with golden parachutes for incompetent CEOs. Why should they be given a parachute for taking a company down? The American people who put their faith in their ability to be efficient and effective CEOs weren't given the same life saving measure.

    Second don't vote for someone who backed the deregulation and who's best friend and top economic advisor opened the door to deregulation. We don't need Phill Gramm as Secretary of the Treasury or Chair of the SEC.

    Third vote for Obama.

    September 22, 2008 at 3:34 pm |
  225. Dave From Philly

    When my investments and retirement mutal funds go back up.

    September 22, 2008 at 3:34 pm |
  226. Sine

    Jack,

    1. I want all the CEOs and Senior heads of all these companies that I'm helping to bail out give back the billions of dollars in bonuses and severance packages that they took, ANDI want to treat their yachts as timeshares to be divided by the American Tax Payers.

    2. An obama administration ( I think we have a better chance of getting #1 unfortunately).

    Sinay,
    Falls Church, Va

    September 22, 2008 at 3:34 pm |
  227. Harmon Prives

    I would like to hear each candidate tell the truth about what it's going to take to turn our financial mess around, which means being truthful about the tough measures that will have to be put in place even if that includes raising taxes. You can't run a government, finance a war, and cut taxes without borrowing huge sums of money. Eventually the bill comes due as it has now. Reforming Wall Street should also be part of the program, but again nobody wants to tackle that issue if they expect to get elected.

    September 22, 2008 at 3:35 pm |
  228. heather

    Obama/Biden '08: while it will be a real challenge to restore the economy, i'm still prepared to give the democrats the chance to do this. republicans have taken us from bill clinton's surplus to this epic fail! we need them and their corrupt lackeys out of DC.

    September 22, 2008 at 3:35 pm |
  229. Michael - Las Vegas

    – a complete move away from the "trickle-down" economics philosophy

    – not electing a republican administration

    – an immediate commitment to developing alternative energy

    – an immediate move to rebuilding the nation's infrastructure (a la FDR's programs in the 30's)

    September 22, 2008 at 3:45 pm |
  230. Kyle Irvine, CA

    Hey Jack,
    Happy Monday to you! In order to restore my confidence in our economy, the federal government would need to create more jobs here at home and stop outsourcing. I bought a legal pad the other day that was made in Indonesia. Good Lord, what is this country coming too?

    September 22, 2008 at 3:46 pm |
  231. Carl Ball

    Jack,

    If Cheney and Bush resign, my confidence will be restored. Otherwise, I don't believe a word they say.

    Carl from Pahrump Nv

    September 22, 2008 at 3:47 pm |
  232. Kim, Dodge City, Kansas

    It would take a miracle. Political leadership that puts the good of the nation ahead of it's own self interest, and and the interests of lobbyists, would be a nice change. Like I said, a miracle.

    September 22, 2008 at 3:49 pm |
  233. Tony in CA

    First, jail all the economic terrorists, Wall Street, Pennsylvania Avenue, Capitol Hill, and K Street.

    Second, enact legislation to ensure this cannot happen again. Put it under the Patriot Act.

    Third, tell the federal government to stop ruling by fear.

    Fourth, stop the give away, and take care of middle and lower class Americans first.

    Last, and most importantly, go back to the top of the list repeatedly.

    September 22, 2008 at 3:50 pm |
  234. Al, Lawrence KS

    If you had a blog in the 1930's, you would probably have asked the same question. Back then, your readers would have said, throw out Hoover and put some regulations on the banking industry. Well, that's exactly what happened and it worked for 70 years. Americans will make the same choice again...throw out the Republicans, and regulate the banks. I wonder if we will learn this time, or if you will be blogging the same question in 2080.

    September 22, 2008 at 3:51 pm |
  235. Sam Hill, Toronto, Canada.

    Election of Barack Obama who has solid financial plan and reputable economic advisers will restore confidence in the economy.

    September 22, 2008 at 3:51 pm |
  236. Diane Glasser

    Easy, Impeach the President, Vice President and charge all the heads of these financial institutions that want to be bailed out with theft, fraud, and corruption. Freeze all their assets and make them pay for this bailout.
    Then we elect Obama and a Democrat Congress and restore our Constitution and our rights lost during the Bush administration.

    September 22, 2008 at 3:51 pm |
  237. Ellen Misch, St. Charles, Illinois

    My confidence will be restored if Republicans and Democrats can put the health of our country ahead of their own ambitions. If they can't,
    we're sunk!!

    September 22, 2008 at 3:51 pm |
  238. Doyle from Canada

    Ask Canada.
    Listen.
    Adopt our best ideas-I know were not perfect.
    We have strong banks. Thats not an accident.
    USA is our most important partner.
    All the best.

    September 22, 2008 at 3:51 pm |
  239. glory b

    A MIRACLE !!!! A Superman who believes in TRUTH, JUSTICE and the AMERICAN PEOPLE FIRST and not the greed, greed, greed that gotten us where we are !!! If you can find that person, Jack, let us all know who it is, so we can write the name in on election day. God Bless

    September 22, 2008 at 3:52 pm |
  240. rock

    a billion dollar bailout plan for every tax paying citizen.

    September 22, 2008 at 3:52 pm |
  241. Rob, San Diego

    When we've paid off our national debt.

    September 22, 2008 at 3:52 pm |
  242. Helen

    I really hope that the american people kick all regulators out wether they are republicans or democrats. This is a disgrace that happen over and over again because of our greed. We never learn. I have no choice to believe we will get out of this because the alternative will send me off a cliff.

    September 22, 2008 at 3:53 pm |
  243. luvienne of chesapeake,va

    Get rid of Bush-Cheney-Mccain. Get rid of the crooks from the top down instead of business as usual.

    September 22, 2008 at 3:53 pm |
  244. Kent, Winston Salem, NC

    In a move this year the Chinese government, in an effort to stop corruption, executed the Food and Drug Administrator. Now Im not
    saying we should hold public executions, but haveing those responsible for the mess we find ourselves in, should be held accountable.

    September 22, 2008 at 3:53 pm |
  245. brett mullins Phoenix,Az

    The people who make the policies of the financial system seems to keep doing the same format over and over. The out come is still the same, it is called rescue or bailout.

    September 22, 2008 at 3:54 pm |
  246. Ibiam Massachusetts

    Jack ;
    By not electing senator John McCain as the next president of the United States of America because he has promised to give us four more years of George Bush or worse. Despite this chilling wind of economic hardship that has been blowing across the country, he still thinks that the "fundamentals of the economy is strong"

    September 22, 2008 at 3:54 pm |
  247. lynnej

    For people to look past Senator Obama's skin color and vote Democratic therefore keeping McCain/Palin out of the White House. That will definitely restore my confidence in the economy and turn my pessimistic attitude to optimistic about this country.

    September 22, 2008 at 3:55 pm |
  248. Rick Hendersonville,N.C.

    Bring in a group of people that can restore this nation and talk with others nations. that is the only way.. I listen to both Obama and MCcain.and Obama seems to be on point.This is where we should be..Now we are prey..Just look out in the waters!!!!

    September 22, 2008 at 3:55 pm |
  249. Bill-Tampa

    Jack, it's very simple. Out with the Old, and in with the New.!!!!!!!

    September 22, 2008 at 3:56 pm |
  250. Shirley -AK OHIO

    NO WAY, NO HOW, NO MCCAIN-PALIN.

    September 22, 2008 at 3:56 pm |
  251. Shannon WA.ST.

    By electing a democrat to the whitehouse.. The republicians got us in this mess of a place and I dont trust them at all to get us out without rewarding the rich by taking from the poor.

    September 22, 2008 at 3:56 pm |
  252. Tripper of PA

    Our financial institutions are corrupted by unfettered corporate greed. First, our government needs to smartly regulate them. Then Congress needs to stop giving tax breaks out to big oil and the wealthy, stop handing our tax dollars over to Iraq and every other nation that laughs at us behind our back, and start investing in our infrastructure, retooling our factories, and providing an education to everyone who wants it and is willing to invest it back into America. It's time for us to level the international playing field by closing our markets to nations who put profit before the health of their workers and our world. The day that all our citizens who want a job are gainfully employed and all other nations owe the U. S. a substantial debt is the day I'll be confident in US financial institutions.

    September 22, 2008 at 3:56 pm |
  253. Jerry from Monroe Co., WV

    Well, it can't start by writting a blank check to the foxes to fix the chicken house. There has to be oversight and ownership by the taxpayers. Sadly, the pain will be shared by innocent taxpayers.

    September 22, 2008 at 3:56 pm |
  254. Rick Hendersonville,N.C.

    Bring in a group of people that can restore this nation and talk with others nations. that is the only way.. I listen to both Obama and MCcain.and Obama seems to be on point.This is where we should "NOT" be..Now we are prey..Just look out in the waters!

    September 22, 2008 at 3:57 pm |
  255. Rob, San Marcos, CA

    Jack, we can reapir the economy in four simple steps. Ready?...

    1) Call every member of the Senate and Congress and order them to stop the criminal bailout of all their buddies on Wall Street.

    2) Abolish the Federal Reserve. They are the real culprits here.

    3) Stop printing up worthless "money" and get back to an honest reserve currency like the gold standard.

    4) Attention Americans: start living within your means.

    There, problem solved.

    September 22, 2008 at 3:57 pm |
  256. Eleanor Watkins`

    I was a young girl during the BIG Depression(which will be known as
    the little depressiont if the bailout goes through) and though our family wasn't wealthy by any means,many of the job seekers came to our door asking to do chores for some food.Without doing any chores,these job seekes never left without some food. I saw the soup kitchens with the long line of people waiting to be fed. Men had jumped out windows on Wall Street. It was a tough time,BUT no one even attempted to bail the "gamblers on Wall Street out of the dangerous ways. This nation recovered from that with the help of FDR putting people to work and building,roads,parks and even a big dam.
    If it hadn't been for FDR I would be dire straits as my Social Security
    Check is my only income. I say NO BAIL OUT! GREED of the money
    people are to blame why should they be rewarded??

    September 22, 2008 at 3:57 pm |
  257. Gale Vozar

    I don't think anything this administration could do would reassure me, they haven't shown anything in the past that makes me think they have a comprehensive understanding of the problem. Please let people outside the White House make all the decisions!!!!

    Gale
    Baker City, OR

    September 22, 2008 at 3:58 pm |
  258. Sam Bryan Tx.

    Jack I would have more faith in the economy if I was sure McCain and his Cornie like Phil Grahm ( that caused this mess with his deregulation push) were held responsible for this mess.
    If they get control of the white house there is no doubt in my mind America is done.

    September 22, 2008 at 3:58 pm |
  259. Joe in Clinton, Ma.

    By voting out all Republicans who allowed this financial situation get worse during their years in power by taking away Gov't restrictions that let their business friends do whatever they wanted.

    September 22, 2008 at 3:58 pm |
  260. Craig

    Jack, I'm afraid the damage done is permanent, America has been brought to its knees from within. And to think we were distracted by "terrorists that want to destroy our way of life". Unfortunately the "terrorists" were the domestic variety, our own citizens. Screw the establishment !
    Hiram Rapids, Ohio

    September 22, 2008 at 3:58 pm |
  261. Mike Ca

    Hi Jack
    By removing Bush, Chaney & Cronies.
    Mike

    September 22, 2008 at 4:06 pm |
  262. Jay Landau

    Now is the time for congress to prove it has backbone and cares about what is right, not what is political.

    We need a well thought out, reasoned response with strong oversight by people who can, and will be, held accountable to the American people.

    The bail out as currently presented is like putting a band aid on a massive burn. You need to debread the wound in order for it to heal.

    September 22, 2008 at 4:07 pm |
  263. L.M.,Arizona

    Just like in 2002 the United States congress needed then and now to just say no to Bush. He created the quagmire called Iraq and he created this financial mess with his policies. Just say no, congress.

    September 22, 2008 at 4:07 pm |
  264. Ron San Antonio

    As we watch the result of Trickle Down Economics at it has destroyed our Financial Markets and is on the verge of sending the United States into a Black Hole of debt we can never recover from, people still vote Republican??? Not only are they Non Conservative, they are the furthest thing from the Moral Right as you could get! What Religion teaches Wealth and Greed and Power are to be sought at all costs? The Republican Religion! We are headed to DEPRESSION and Bush is fiddling as America burns while wanting 7 Billion unaccountable Dollars to throw on the fire!

    The fact that this Democratic Congress will not Impeach this man is the height of Incompetence! Our political system is broken and spiraling out of control. Our only recourse is to vote everyone out of office and continuing to do so until someone wakes the hell up!!!!!!!!!! It's definitely time to start stuffing the mattresses with cash if you can still get it!

    What does it take for this man to be Impeached, that is the only thing that will start to gain my trust back! There is no trust in this Congress or Economy now. We have been lied to and ignored to long by our leaders!

    September 22, 2008 at 4:08 pm |
  265. Chris Boston

    Obama in office. Payback of all related corporate bonuses. Accountability of CEOs, Congress, and Bush. Decline the bailout. Say no thanks to their offer to let us bail them out and let them fail. It will be the cleanest way and fastest way to recover.

    However, I'm also tired everyone blaming someone else. While the corporate CEOs were getting rich, no one made individuals accept these mortgages. Too many people are living beyond their means. Houses they can't, cars they can't afford. The richest nation with the lowest savings rate. While we're asking the corporations to take responsibility people need to do the same otherwise it will just happen again in a different fashion

    September 22, 2008 at 4:08 pm |
  266. lisadee

    ppppp

    September 22, 2008 at 4:08 pm |
  267. Mike - Hot Springs, Ar.

    It will be very important that whatever plan is arrived at that it includes nothing for the idiots who got us into this mess. We should prosecute those executives – not reward them. One thing for sure though is that if America is stupid enough to elect McCain then we deserve whatever we get.

    September 22, 2008 at 4:09 pm |
  268. john ............... marlton nj

    Initiate bailout program, immediate start zero based budgeting and reduce exsisting federal spending (all of it, salaries, retirement payouts, tansfer payments, everything) by 20% immediately. Would be anything less than patriotic for federal employees to take a pay cut.

    September 22, 2008 at 4:09 pm |
  269. Shay

    By electing Barack Obama to clean it up!!

    September 22, 2008 at 4:09 pm |
  270. Liz from Vancouver

    That's easy. Just get rid of all the deregulators and free-marketers for a start. And then begin making hard choices. This is going to hurt, folks, if we're ever to get well. Have you ever clawed your way back from bankruptcy ?

    September 22, 2008 at 4:09 pm |
  271. Lesley, Lighthouse Point FL

    I'm stumped.

    September 22, 2008 at 4:09 pm |
  272. mark (from Calgary)

    The executives and directors of every financial institution involved in this securities debacle, as well as their auditors, need to be sued and/or criminally charged with wilful fraud. Realtors and lawyers who inadeqately (or falsely) advised their clients into buying overpriced homes witth sham mortgages should also be sued. All those parties should be barred them from future executive or director positions with any business enterprise or government department, With their new criminal records and dance with personal bankruptcy, spending the remainder of their lives flipping burgers would be a suitable follow-up to their up-to-now lives of excess.

    If the President and the Congress doesn't have the balls to do this, then I hope the class action lawyers of America are successful.

    September 22, 2008 at 4:10 pm |
  273. Where's my money

    Jack,
    Like McCain, I don't claim to know much about the economy, but I do have some great common sense. If it's our tax money that is bailing out these rich cats, shouldn't we get some of it back, just a little percentage??
    I think it's an embarrassment that these multi millionaires drive their companies to the ground and it's up to poor Susie & Harry Q, who are struggling to pay for them to get back on top. Just Sad!!

    -PolitocMike

    September 22, 2008 at 4:10 pm |
  274. Sue -Idaho

    Jack when I see the moving van hauling every single person in the Bush Administration and all GOP reps as well as a few Dem fixtures then I will be able to breath again, I'm watching my retirement fade away, my home devalue, can't afford gas, groceries, healthcare and these morons are saying, hey we haven't screwed you people over enough how about taking on another oh say 700 billion and paying it off so those crooks and CEO'S can keep their money and stay in business. McCain should be on the truck to and take the moose lady with him.

    September 22, 2008 at 4:10 pm |
  275. Pat, Pa.

    By voting out EVERY SINGLE INCUMBENT who is in office and start all over. The next best thing is do not allow McCain to get in office. He will just pick up where Bush left off.

    September 22, 2008 at 4:10 pm |
  276. Rae

    If I could find a job that would help. Other than that, no bailout unless it is to the people who have no jobs, no health care, no hope. The government doesn't care if those people lose everything. I don't think we should be bailing them out.

    September 22, 2008 at 4:11 pm |
  277. Jay from MD

    First, it would take not giving a blank check to the bozos and thieves that created this mess in the first place.

    Second, it would take independent oversight to make sure that the money goes where intended and is not simply the next ripoff coming down the pike.

    Finally, it would take elimination of the FED as the overseer of our fiscal monetary policy. The FED created this mess with their interventionist policies. Why let the fox keep the keys to the henhouse any longer.... there are hardly any chickens left now.

    Quite frankly I'm disappointed by this wholesale bailout of Wall Street and the banking world. There are plenty of Americans who deserve and need help far more... and now we are all going to be penalized by saving Wall Street and sending the bill to Main Street.

    September 22, 2008 at 4:11 pm |
  278. Al /Orlando/via Buffalo

    When the Titanic went down, the Captain was not significant. When
    the United States goes down (surrenders to some one) the occupant
    of the oval office will not be significant.

    September 22, 2008 at 4:11 pm |
  279. Kimberly Gainesville, FL

    Jack,

    The only thing that will restore MY confidence in the financial system would be to get Bush OUT of office, and put some change into it!

    September 22, 2008 at 4:11 pm |
  280. Chuck Rogers

    The only thing that might restore my confidence would be for each one of those CEO's out in my garden that I grow, in order to eat. Then they could sample the fruits of their labor. Oh yes; they'd have to pull weeds first!

    September 22, 2008 at 4:11 pm |
  281. Mike in Cincinnati, OH

    To the misinformed,

    The deregulation (Financial Services Modernization Act) that you so conveniently blame on the current administration was actually signed into law by Bill Clinton in 1999.

    September 22, 2008 at 4:11 pm |
  282. Kevin in Ancorage AK

    Get Bush out of off... elect Obama and let the Democrats fix this elephant-sized mess.

    September 22, 2008 at 4:12 pm |
  283. Tammie

    By getting the republicans out of office

    September 22, 2008 at 4:12 pm |
  284. Phil from Armonk

    If we are a market economy, let the market sort this out. To require the US taxpayer to bail out Wall Street, means they are not responsible for their mistakes. No one bails out Main Street when they make bad investments.

    September 22, 2008 at 4:12 pm |
  285. me46

    In a nutshell, we'll all feel better when we can afford to take our families to Disney World. Confidence in the economy will return when and only when John Q. Public begins to feel the impact personally. That means that J.Q. will need to feel it in the pocketbook and in the workplace. He needs to see relief from high housing prices, high gas prices, high utility costs, high health costs and rising food prices. The guy at the bottom felt the squeeze first and will likely be the last to feel any recovery. The $10,000,000,000,000+ debt, the two wars in Iraq and Afghanistan, high incarceration rates, and the loss of jobs, industry, and ownership all mitigate against more productive spending of tax dollars. J.Q. needs a little relief too.

    Tom M.

    September 22, 2008 at 4:12 pm |
  286. Becky

    It will take a Democrat in office with some sense.. And a willingness to consult with others who have some sense.

    September 22, 2008 at 4:12 pm |
  287. Mike in California

    I whole lotta Republican house cleaning should do the trick.

    Mike
    Sacramento,Ca

    September 22, 2008 at 4:12 pm |
  288. Maria, Austin, TX

    get the republicans out of power will do the trick.

    September 22, 2008 at 4:12 pm |
  289. Fareesh (Maine)

    Less war for imaginary WMDs and dashing to the rescue of citizens in foreign countries. More emphasis on US citizens and welfare.

    September 22, 2008 at 4:12 pm |
  290. John

    Let's talk about our free market economy. Key word is FREE. Free to make money, free to lose money. The current administration has abruptly decided to make the US economy a socialist economy-but-only for the social strata that includes big companies with strong ties to wall street. The beauty of the free market economy the US used to enjoy was that if a business was viable, was well run and added to the GDP, it would succeed. If it was not well run and was not viable, it would fail. This was Darwinistic capitalism at its finest.
    Here's an idea:
    Why not just let the economy repair itself? The government could simply guarantee a mortgage rate of 4%. This would save the individual who may be faced with forclosure and would trickle up to the financial institutions holding the paper.

    September 22, 2008 at 4:13 pm |
  291. Scott Bornstein

    Confidence in the financial system starts with our leaders. Why are three Senators out campaigning when they should be in DC dealing with this for their constituents, and all American citizens, the people they want to lead. This is too big and too important to be a campaign football!

    Scott Bornstein
    Lakeland, FL

    September 22, 2008 at 4:13 pm |
  292. Maureen / Newman, California

    When someone takes the checkbook, the ATM card, and the credit card away from the Republicans. For people that seem to have a lot of money, they sure don’t know how to manage it.

    September 22, 2008 at 4:13 pm |
  293. Betty Ferrin

    Jake, I am writng you because I am so pissed off at our government. My sons health insurnace was cancelled today. He is enrolled in the childrens health insurance program Hillary put together abt. 1996. Which we have been eligible since day one. We were told it was cancelled over $43. Are you kidding me $43. Is this a joke? This program was designed to help WORKING FAMILES. Me and my husband make less then $40,000 together a year. How can $40,000 be to much money all of a sudden. How can our government give 1 trillion dollars to wall street to bail them out of there greedy mess, but see it fit to cancel a childs health care over $43. Talk about attack of the working class.

    September 22, 2008 at 4:13 pm |
  294. Carol, Quincy, MA

    Barack Obama.

    September 22, 2008 at 4:13 pm |
  295. Leo Rael

    the US taxpayer.

    September 22, 2008 at 4:13 pm |
  296. Frank

    The last time the Bush Administration wanted us to move quickly, we ended up in a six year and counting war in Iraq. What's the rush?

    September 22, 2008 at 4:13 pm |
  297. John from Tennessee

    A new administration. . .one that doesn't feel they are "fundamentally deregulators."

    September 22, 2008 at 4:13 pm |
  298. Elizabeth Robinson

    If Wall Street wants to be bailed out by the taxpayers, then they have to give us ownership of their companies, cut the pay of CEOs to more reasonable levels, and be more transparent in their dealings. The US Treasury Secretary should not have such unfettered powers as Bush is asking for, not unless you want a monarchy!

    September 22, 2008 at 4:13 pm |
  299. Vickie

    Get George Bush and his Republican posy out of the White House!

    September 22, 2008 at 4:13 pm |
  300. Kris

    Simple. January 20, 2009. It doesn't matter who is there, just who is leaving.

    September 22, 2008 at 4:13 pm |
  301. Richard Green

    Let's hope Congress doesn't just slap something together by this Friday so they can adjourn for the rest of the year. We won't like what we get if they do that. They need to put in some overtime and stay as long as it takes to put something together that will give Americans equity in these companies we're bailing out. I don't want to get nothing but their worthless paper for our billions. They also need to back out the 2000 and 1999 laws that deregulated banking and the commodiites markets. While they're at it they should repeal Bush's tax cuts for the rich...repeal it here and repeal it now.

    Rich Green
    San Clemente, Cal.

    September 22, 2008 at 4:13 pm |
  302. LadyBug of California

    Jack, for me, the answer is crystal clear; vote the republicans out of office. ENOUGH!

    September 22, 2008 at 4:13 pm |
  303. Rachel

    McCain NOT being elected president would give me some faith in the future of our economy. Seeing McScary the past week as caused me to panic at the thought of him as president. He wants to fire the head of the SCC and replace him with who, Palin? He wants to form a committee, who is going to it that head it, his campaign staff or other GOP? No thanks, this coming from a guy who until he got called to the carpet last week, felt the ecomony is fundamentally sound. Well I am fundamentally positive Obamo is the way to go.

    Rachel, Atlanta

    September 22, 2008 at 4:13 pm |
  304. F Symmes

    Restoring confidence in our economy...that one's easy, Jack...elect a Democrat!

    September 22, 2008 at 4:13 pm |
  305. Ken in Washington

    The only way to restore confidence is to give those responsible for the problems a minimum mandatory sentence of 25 years instead of 10's and 100's of millions of dollars in golden parachutes.

    September 22, 2008 at 4:13 pm |
  306. Paul Squire

    Finding someone in Washington who still has some common sense.

    I understand that one of the stoppers on the bailout is the refusal to place a cap on the Salaries of Corporate Executives.

    Why is it that our government is always more than willing to place a freeze on Federal Hiring, Cost of Living Adjustments and Salaries for employees at the D.O.D. and other agencies?

    Of the People, By the people, for the people?
    What happened Jack?

    Paul
    Rockville, Maryland

    September 22, 2008 at 4:14 pm |
  307. Beverly Campbell, Cameron Park, CA

    We must have an oversight committee that includes non-government officials, sets CEO pay (10 X the lowest paid person in the company) the team that Obama has asked for advice would be a good start.

    By the way, McSame is calling for a $400,000 cap on salary, wonder what Cindy McSame made last year including stock options and other benefits!!!

    September 22, 2008 at 4:14 pm |
  308. Jeff Sayre

    Although many talk about the crisis of confidence on Wallstreet, the MBS bailout does not attack the underlying problem - the inappropriate, greedy capitalism that has become all too common at the market-making investment banks. Slapping the very same people who gamed the system by creating their “innovative” financial derivatives does not restore the confidence of the American people.

    A free market is only free if it can self correct, if bad decisions have consequences, and good decisions have rewards. Would allowing this financial crisis to resolve itself on its own have serious, global repercussions? Yes, for a while. But the ensuing culture on Wallstreet would change as the old guard is forced out and new financial leaders emerge–leaders who truly believe in a free market with open communication and full transparency. That is what it will truly take to regain the full confidence of the average American.

    September 22, 2008 at 4:14 pm |
  309. Darren

    Bush and Paulson resign and take the money from those CEO's that engineered this trainwreck.

    September 22, 2008 at 4:14 pm |
  310. Michele

    Jack,

    It will take a miracle. The Bush administration have failed not only the US citizen, they have failed the world citizen. My money will stay here with me in Canada. Thanks, but no thanks to more crisis.

    Toronto

    September 22, 2008 at 4:14 pm |
  311. Franklin - NC

    What will it take to restore my confidence in the U.S. financial system? Oh that is easy, it is when I find a good quality job. The financial system really doesn't matter much to people who are unemployed, but finding a job to actually have finances is actually most important to any hard-working, college-educated, African American who wants to work.

    September 22, 2008 at 4:14 pm |
  312. Pat from NM

    When America reverts from a nation of over spenders, and hence debtors, to a nation that produces products that the rest of the world wants to buy. Then we'll have the economic power to be a true super power in the world as opposed to a nation whose economic expansion has been fueled by cheap consumer credit. We buy the commodities from China, we buy the luxuries from Japan, and we buy energy from the middle east.

    September 22, 2008 at 4:14 pm |
  313. Anne ODell

    It will take a new president who cares about us and not "his rich base!" I am stunned at the gall of Bush trying to rush congress into passing this quickly! How stupid can he be? Oh, ya, he is stupid. His policies allowed this to happen!

    Anne
    Brookings, OR

    September 22, 2008 at 4:14 pm |
  314. texas granny

    By getting republicans out of the White House.

    September 22, 2008 at 4:14 pm |
  315. broke

    Miracles

    September 22, 2008 at 4:14 pm |
  316. Chris, Ottawa Canada

    Change monetary policy to the gold standard.

    September 22, 2008 at 4:14 pm |
  317. Nicholas Fox from Kansas City MO

    It would take a miracle Jack; I'm an atheist so I dont know what the odds of that are.

    September 22, 2008 at 4:14 pm |
  318. Bill

    Can my confidence be restored in the economy, maybe.
    Can my confidence be restored in the current government, probably not.

    Charlotte, NC

    September 22, 2008 at 4:14 pm |
  319. Donald, Wa.

    I need to see some people go to jail. If no one goes to jail I will have no confidence. The more that go to jail and the longer the sentences, the more confidence I will have.

    September 22, 2008 at 4:14 pm |
  320. Dee

    I would say a miracle. At least I would say that if I believed in miracles.

    I think what it will take to regain our confidence is for the American People to start being REALLY angry at the big corporations and all the rich folks who do not give a rat's ass about the rest of us.

    September 22, 2008 at 4:15 pm |
  321. Rose Black

    Jack Nothing will change if McCain/Palin get in the white house./.. Vote Obama.
    The republicans put us here.

    September 22, 2008 at 4:15 pm |
  322. Lee, Seattle WA

    Get the Repulicans out of power, that's how!!! Pres Bush has made "America" the laughing stock of the world! All because he was on a "Power-Hungry-Trip"!

    September 22, 2008 at 4:15 pm |
  323. Tony McInnes

    An Obama administration !

    September 22, 2008 at 4:15 pm |
  324. Robert

    Jack,

    The only way to fix this economy is to let the chips fall where they may on Wallstreet. Then ship our molding machines back from China and Mexico and manufacture our way out of this mess. Lets also prevent any bank or financial institution from ever getting "too big to fail"!

    September 22, 2008 at 4:15 pm |
  325. Sidney

    Jack,

    I think the best way to restore convidence to the american people is to fire the whole lot of appointes those ignorance got us into this mess. Not give them a trillion dollars more to stick in their pockets before they leave with Mr. Bush.

    September 22, 2008 at 4:15 pm |
  326. Mike in Ewing NJ

    Jack,

    It's going to take having a SMART president...not someone who was graduated at the bottom of his class at the US Naval Academy

    September 22, 2008 at 4:15 pm |
  327. Sherry from Montrose, IA

    It'd take someone to step up and say "We're sorry. We tried our trickle-down theory, and we were wrong. It doesn't work, and we're going to stop it now". But instead, all that will change is that the Republicans will claim they just did it wrong, or with the wrong person. This time, you bet, it will all work just fine. So vote McCain, and flush the rest away.

    September 22, 2008 at 4:15 pm |
  328. Thom Richer

    Jack,

    My guess would be about 30 years, a balanced budget, and a torally new Congress.

    Thom Richer
    Negaunee, MI

    September 22, 2008 at 4:15 pm |
  329. steve wilken

    confidence in the us economy can only be restored by electing a new president willing to change the disastrous policies of the last 8 years. Trickle down economics and tax cuts for the wealthy have run the economy into the ground.

    September 22, 2008 at 4:15 pm |
  330. Kim Banco

    The government needs to reinstate regulatory control over our lending institutions with the establishment of standards for home loans. We also need to get rid of the system of private profits and socialized losses by not providing bailouts that have no strings attached. A bailout should include the severe limitation on executive pay and terms for the money invested to be paid back at a future point in time. Chrysler was given a bailout through the issuance of a loan which they eventually paid back. This should be used as a model for any current and future bailouts.

    September 22, 2008 at 4:15 pm |
  331. Linda Turner M.D.

    The first step will be that Congress exercises its duty to the American People by watching the pursestrings. Congress has a constitutional DUTY to get it right.

    Getting it right wil take time. Hours, maybe days.

    Writing a Blank Check to the Bush Administration takes seconds.

    I'm actually cheered that my Congress cares about my tax dollars.

    September 22, 2008 at 4:15 pm |
  332. David

    How can people restore my confidence?

    People can buy some shares in stocks and bonds. People can work their hours that they are assigned. People should care how well they do their job.

    Dave
    Griswold,Ct

    September 22, 2008 at 4:15 pm |
  333. Trina

    The economy has been a factor for the last eight years.
    "Wow!" Now Wall Street is bankrupt.
    I live on Main Street; I'm bankrupt. "Who is going to bail me out?" I was in bankrupt well before Wall Street.

    Trina

    September 22, 2008 at 4:15 pm |
  334. Dave

    Confidence can be restored once we get rid of all of the corrupt republicans including John McCain. I just hope that the American people aren't so racist as to allow this nonsense to continue. Throw these bums out now!!!

    September 22, 2008 at 4:15 pm |
  335. Linda Phillips

    It would take an administration that was not run by Republicans!!!

    September 22, 2008 at 4:15 pm |
  336. Marianne

    It will take total regulation of all financial institutions, especially any entities that might be "foreign" in any fashion. It should be obvious to absolutely everyone that these types of businesses CANNOT police themselves and never had any intention of doing so. If regulation cannot be achieved one might have to ask "Why Not?" What kind of disaster needs to happen for the American people to wake up and inundate their representatives with demands of regulation first – bailout second.

    September 22, 2008 at 4:20 pm |
  337. Brent Dow

    I would have more faith in the US economy and my government if they forced these mismanaging CEO's to forgo their ill gained assets into the system. Kind of like a penalty tax for plating "dirty pool" that way I don't have to worry about my taxes paying for a bailout that may not work anyway. We are already deep in debt. Where is this money going to come from?

    September 22, 2008 at 4:20 pm |
  338. Richard L Levittown Pa.

    Jack I feel like AIG is pulling another fast one on the congress how is it that after years of record breaking profit now your crying Wolf. I hope congress don't blink this time and see what would happen. This is nothing but another ploy by Wall St. to make a larger profit and gut the Goverment and the economy. After AIG who's next.

    September 22, 2008 at 4:20 pm |
  339. Victoria Anderson Seattle, Washington

    When Hell freeze over!
    It doesn't matter who take office, this country is messed up from years of abuse from men who think there above all....From the color of your skin to women's rights, if you ain't rich then your on your own.......

    September 22, 2008 at 4:21 pm |
  340. Barbara Middletown, NY

    In order to restore confidence we need to hold those in charge and responsible for making bad (greedy) decisions accountable, we need to demand oversight and we need to ban all lobbyists.

    September 22, 2008 at 4:29 pm |
  341. Charles Ziff

    Jack,

    I have a college education and a law degree and I am really trying to understand the Government and Wall Streets next move to strengthen confidence in the financial system and the economy.

    The Government is going to allow what?

    A "move that will reshape the finance landscape, Goldman Sachs and Morgan Stanley said they will transform themselves into commercial bank holding companies - essentially ending an era of investment banking and Wall Street as we know it.

    Am I correct to assume that the Government is going allowing the Cat to watch over the Hen House?

    Nuts!!!!!!!!!!!!!!!!!!!!!!!!!!

    September 22, 2008 at 4:29 pm |
  342. Rod

    Jack,
    It's going to take people running the government whose actions match their words. The world is watching our actions. For me, I have a cherry tree to chop down and I won't mind telling anyone I did it. I'm pretty sure that the answer to this question doesn't come in a 72 year old package.

    September 22, 2008 at 4:29 pm |
  343. christie

    Call me crazy, but here's an idea.
    Checking the US Bureau of the Census, the US population right now is approximately 305,226,729. Just guessing that two-thirds of those people are tax payers, the rest being children, that makes about 203,484,486 taxpayers. Why not divide the 700 billion or 85 billion, whichever it is, by that number and send that amount to each and every taxpaper. Depending on which figure you use, it could come close to $50, 000 per person ( I think, my calculator won't go that high!). That will stimulate the economy by allowing people to pay their mortgages, fill their gas tanks, make a monthly health insurance payment, go to a movie, out to dinner, etc. All the things that keep the economy moving. You can't tell me that there is a single person in this country, even Bill Gates or Warren Buffet who wouldn't like an extra $50,000 to come their way. And even if my math is wrong, even $5,000 ($10,000 per household), is some relief for people who are really living day to day, like myself.

    September 22, 2008 at 4:29 pm |
  344. Carolyn Pottsville, PA

    The only way to restore confidence is to have an Intelligent leader who will surround himself with the best, the brightest, and impartial minds to work on this problem. We have seen what the opposite has gotten us the last eight years. And we do not need a leader like McCain who is in over his head. Anyone who lets his 1,000 pages of medical records available for 3 hours is hiding something. I don't think we need to see those records to know that he is not healthy enough to get us out of this crisis. I would have no confidence in him. And look who his friends and consultants are,

    September 22, 2008 at 4:29 pm |
  345. Mike Gray

    The only thing that would rebuild financial trust to mainstream Americans is if the person you borrowed from remains the person you repay. Eliminate the ability to sale off bad debit or resale marginal loans, if you made it you are responsible to take care of it.
    Mike, Dallas, TX

    September 22, 2008 at 4:31 pm |
  346. john Weyburn, Saskatchewan

    Jack, my studies of American History in general and the Federal Reserve in particular are seriously revealing in terms of the economic meltdown.

    Restoring confidence means getting rid of the Federal Reserve and giving the power to print and regulate money back to the American people.

    There was great opposition to the Federal Reserve which is and has always been a private banking corporation.

    The warnings of President Woodrow Wilson, Democrat Louis McFadden, Republican Charles Lindbergh, President Franklin D. Roosevelt and President John F. Kennedy have fallen on deaf ears. All these men held deep convictions the Federal Reserve system would ruin the U.S. and economically enslave American citizens.

    Take a look around and tell me they were wrong.

    September 22, 2008 at 4:31 pm |
  347. Steve Drane Chicago

    Jack, it's really quite simple; just make sure that we never have a Republican controlled senate, congress and white house all at the same time ever again. Does anyone actually think that its just a coincidence that the last time the Republicans controlled all three branches we got the Great Depression? What's even more astounding is that the Republicans bankrupted the USA back in 1929 in exactly the same way they have done it in 2008. On November 12, 1999 the Republican controlled congress repealed the Glass Steagall Act which prevented bank holding companies from owning other financial companies. It was called the Gramm-Leach-Biley Act...... yes that Gramm, Phil "whiner" Gramm, now a key economic advisor to John McCain. Once the walls were broken down the Republican's led by John "no regulation" McCain gutted the oversight and viola – we have the makings of the next Great Depression. Sadly Americans apparently have not read their history books and are clearly not paying attention as we approach the edge of the cliff.

    September 22, 2008 at 4:31 pm |
  348. Terry in Arizona

    Jack, Instead of bailing out the companies and those who were fiscally irresponsible, why doesn't the government reward those who showed fiscal responsibility all along? If the government paid $100K towards every primary mortgage of $250K or less it would be a tremendous shot in the country's economic arm. And since that money would be paid to the mortgage companies anyway it would give them the liquidity they currently need. Talk about helping from the bottom up. Families would be able to spend more money on discretionary goods and we would all be better off. I'm tired of us, the taxpayers, bailing out the big guys. Think about it.

    September 22, 2008 at 4:32 pm |
  349. Stephanie from Troy, MO

    You know Jack, 8 years ago, my husband told anyone who would listen that W would end up destroying this country. He said that this man would get us into a war within the first 2 years and that he would use the office of the president as a way to further his own gains. All of that has come to pass. Now this administration is going to borrow monies from some of the same countries that they have been bad mouthing for the last 8 years. I don't think that there is anything that can restore my faith short of getting rid of these bozos that caused this crisis in the first place and then making sure that their replacements learn that only spending what they have isn't such a bad idea after all. You know tax and then spend, not spend, spend, spend and then borrow.

    September 22, 2008 at 4:32 pm |
  350. Janet Mauer

    The bailout of these Wall Street thieves does not restore confidence.

    The Congress should stand strong against Paulsen's intimidation. He wants to bail out these investment banks with our money, HIS way, FAST.

    Paulsen is a former Goldman Sachs CEO - I don't want him in charge of my money. It's worse than if the foxes were in charge of the hen house.

    Deregulation has destroyed this country. Let the top 2% of the wealthiest Americans pay for this bailout because they benefited the most. And then let's regulate the hell out of these investment banks.

    P.S. The rest of the world has been watching us and hates our aggressive, bullying attitude (the Bushies). We need to get our own house in order and become decent, strong Americans again.

    September 22, 2008 at 4:32 pm |
  351. John

    None, our institutions of higher learning will soon graduate another class of business majors who will hatch new get rich schemes that will require working class Americans to pick up the tab.

    September 22, 2008 at 4:32 pm |
  352. kettles

    linda, get a grip,the gov. is not here for you,you are here for it.

    September 22, 2008 at 4:36 pm |
  353. Nelson Begley

    The government has been siezing money and assets from drug dealers and other crooks for years.
    Why is the government NOT going after the assets of these CEOs who have Bankrupt America?
    This is far worse that what drug dealers are doing to the country.

    September 22, 2008 at 4:37 pm |
  354. Vickie

    Another thing, I get more and more pissed off when I think about it. I had to fight with social security when my mom who worked over 31 years of her 62 year life as a nurse was denied social security benefits when her leg was amputated. They tried to argue two weeks after her surgery she was still capable of going back to work. She hadn't even gone through rehabilitation to learn how to walk again. She lost her job, her health insurance and her apartment. It is so amazing to me when the powers that be says universal health care would be too expensive for the tax payers. But yet they can take 700B of the taxpayers dollars and give it free of charge to large corporations and Freely keep our money flowing to Iraq who are making billions of dollars off of our consumption of oil. But when it comes to the american people, the folks they have working for their corporations, there is no money to do anything that is going to benefit us. We're on our own. The hospitals that my mom had spent her whole entire adult life working for had no compassion towards her when her role switched from being the caretaker to becoming the patient. This government has truly failed the American people.

    September 22, 2008 at 4:37 pm |
  355. Suzanne NJ

    1. Whenever someone tells me it has to be rushed and that they will be in charge, I know it is a con. Let's take our time and do it right.

    2. Elect Obama. Paulson has been part of the problem and did nothing while everyone knew derivatives were not real assets.

    3. Bad paper does not become good if the taxpayers own it; we need to own the companies, we buy em we own em like with AIG.

    4.Sieze assets of those who gained by slicing and dicing, and prosecute where there was fraud.

    5. Oh well, with this DOJ it may not be possible as it is so political with no justice for all. Ditto with the Supreme Court. Another 2 reasons to elect Obama.

    6. Independent trustworthy overseers, maybe the Canadians could do it!

    September 22, 2008 at 4:38 pm |
  356. Susan - New Jersey

    Jack,

    I don't understand why they can't get the 700 Billion dollars from all of the big wigs who got us into this mess. I do believe between all of them, we can come up with 700 billion dollars. As a matter of fact, I would bet my lousy paycheck on it.

    Susan

    September 22, 2008 at 4:38 pm |
  357. independent, ohio

    While going after speculators past actions is hard, new regulations can make a diffrence.
    I'd like to see 2 things:
    Tightly regulate the commodity markets, so oil won't get a $50 trading premium.
    Change the tax code to put some excise on money from stock trading versus work.

    September 22, 2008 at 4:49 pm |
  358. Andrew O.

    As the campaign progresses, I feel my brain cells dying off with each speech from Obama/Biden, McCain/Palin. We are definitely dumber than we were before the campaign began. What would help restore my confidence in the US economy? Candidates capable of honestly admitting to the American people what THEIR side/party/ideology did to contribute to the mess we're now in. While this mess happened on the watch of a Republican administration, it has Democratic party DNA and fingerprints all over it.

    The candidates talk about "Wall St." vs. "Main St.", while ignoring the problem of "South St." (lower income America). This mess first started with Clinton telling Wall St. that it should give South St. a break, that is, provide mortgages to individuals and families, who couldn't afford it. So now Wall St. is the bad guy... and Main St. is picking up the tab, while politicians in Washington are taking cover.

    September 22, 2008 at 4:49 pm |
  359. concerned

    Jack; what bothers me is that the McCain camp can sit down over the weekend and come up with a solution to this economic crisis. Where was this plan two weeks ago. In order for either party to do what's right for the taxpayers, they are going to step on alot of their friends toes. Can you say ouch.

    September 22, 2008 at 4:50 pm |
  360. Kim

    When Barack Obama becomes President. We the little people have suffered enough. Bail us out. Stop paying all these CEO. McCain and Palin needs to stop lying.

    September 22, 2008 at 4:50 pm |
  361. Mae Stone

    Let the trash fall out the bottom and the cream rise to the top, WORLDWIDE. Let those lousy companies fail!

    September 22, 2008 at 6:09 pm |