September 2008

Wow. Certainly struck a chord on that bailout blog! I am thrilled to see the discussion unfold in the commentary. That is why I write this blog. I also notice that everyone who replied did not want to see a bailout. So what would you prefer to see? If we can mutually agree that something needs to happen, what would you like to see happen? Send me your ideas. I am not suggesting that any one of us ... read more

Two people that I have not heard a lot from lately joined me on Money for Breakfast. Two people whose opinions really mater and who can give us some insights into what is going on behind closed doors on the hill and what we need to do to fix this problem. My first guest, Steve Forbes, Forbes president and CEO and editor-in-chief of Forbes Magazine, has three recommendations for how to help fix ... read more

I know that the vast majority of Americans do not want a bailout but we need it. This is not about Wall Street--it's about main street. If it wasn't conveyed properly, everyone in Congress from congressional members to the president to Secretary Paulson to Fed Chairman Ben Bernanke need to tell you why. 1. The Fed's balance sheet in August 2007 was $800 billion. Today it is estimated to be $300 ... read more

Karl Case is a professor of Economics at Wellesley College. He is also one half of the S&P Case-Shiller Index, which measures property values in regional areas throughout the country. When he speaks, people listen. Karl Case recently scrapped his latest forecast for a housing recovery in early 2009 because of the uncertainty surrounding the credit markets. One in ten mortgage loans are in ... read more

Forgive me for taking so long to post this next blog but these unprecedented times have kept me incredibly busy. Wayne Angell, former Federal Reserve governor who served during the first seven years of the Greenspan era, joined me for a lengthy sit-down interview yesterday. We talked about the reasons why the banking system came unglued, what we could have done to prevent this and how something ... read more

In an exclusive interview this morning with former SEC Chairman William Donaldson, he went on the record for the first time since these bailout talks began. If you don't know or remember him, he was famous for fighting for greater transparency and regulation. In fact, it was speculated that he was pushed out of his role because he fought hard for stricter guidelines and was not willing to allow ... read more

Have you seen the commercials on television with T. Boone Pickens talking about the Pickens Plan? They've been just about everywhere. In an unpredicted move, the oil billionaire reportedly shelled out $58 million on those ads to draw awareness to a cause that he feels very strongly about: energy independence. It is not every day that the son of an oil and mineral landman decides to take his ... read more

Checkmate. McCain made the first move and it is a brilliant move. He just decided to cancel campaigning to return to Washington and deal with the rescue plan. The financial well-being of this country has been his weak point, and the numbers over the past week have been moving strongly in Obama’s direction. McCain is not only telling Obama that he should suspend his campaigning, but he is also ... read more

It’s only a matter of days. This deal is going to happen whether we like it or not. It’s time to wake up and smell the coffee. Today Bernanke, Paulson and Cox testified in front of the Senate Finance Committee. They got skewered by members of both parties. Some of the most outspoken critics were Senator Shelby, the ranking Republican, and Senator Jim Bunning who said, "It's financial ... read more

How often can you say that you spoke to two former Federal Reserve governors in one day? That happened today starting with Former Fed Governor Lyle Gramley this morning on The Opening Bell. He was a Fed Governor for 5 years from May 28, 1980 to September 1, 1985. Just to be clear, there are seven members of the Board of Governors of the Federal Reserve. They are nominated by the president and ... read more