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	ED'S ACTIVE RECESSION BUSTERS

Wednesday, September 08, 2010

Ed Schultz broadcasts from 30 Rock in New York City.

Sen. Byron Dorgan, D-ND, joins the 1st hour of Wednesday's show to discuss President Barack Obama calling on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011.

Hilary Shelton, Director of the Washington Bureau of the NAACP joins the 1st hour of Wednesday's show to discuss the One Nation Rally.

Adam Green, Of the PCCC joins the 2nd hour of Wednesday's show to discuss his comments about Rahm Emanuel.

"Ed Asks...will you march with me?"

Lets all join together and march as "ONE NATION" in Washington DC on October 2nd

click here for details...

Plus...

President Barack Obama unveils three economic initiatives in Cleveland, OH. We'll bring you the latest.

Secretary of State Hillary Clinton calls a Florida church's plan to burn copies of the Muslim holy book to mark the ninth anniversary of the Sept. 11 attacks a "disrespectful, disgraceful act." We'll talk about it.

BP says in an internal report that multiple companies and work teams contributed to the Gulf of Mexico spill disaster. We'll give you the details.

The OpEd: Should John Thain be Back in Business Running another Bank? Posted on Monday, February 08, 2010 Visit msnbc.com for breaking news, world news, and news about the economy Give me your thoughts...

Comments:

	John Thain the former CEO of Merrill Lynch needs to be wearing an orange jumpsuit in a Federal Supermax. This man is nothing more than a financial terrorist. This man is the convict who bought $80,000 or more of carpets for his office while authorizing several billions of bonuses for employees all while the company was being bailed out by the taxpayers. He took incredible speculative risks in a leveraged market and lost hugely. But, the incestuous relationship on Wall Street means we get the same corporate clowns running these companies over and over again. This is what is wrong with America: no other person could have done what John Thain did and got away with it. Heck if a blue collar guy steals a couple hundred dollars from his boss he gets immediately fired and probably prosecuted. John Thain lost many billions of dollars and essentially wasted billions of taxpayers money on bonuses. The $80,000 worth of office carpets is small potatoes. John Thain is a miserable vile man who should be spending his time besides Mr. Madoff inside a federal pen. Enough said this man is a crook plain and simple. If the feds were regulating like they should be this man should have already been fired, tried, convicted, and in a federal penitentiary period. This is what is wrong with America. Posted by Rex, Moorhead

	NO!! Posted by Eric Overholt Marin City, CA

	Ed, Isn't the REAL STORY WHY the Obama administration HAS NOT enacted REAL BANKING REFORM yet? (not this same ole, same ole crap Dodd, et al are proposing) THAT is your story Ed, try reporting on that. And the $80,000 rug is chump change, he ripped off BILLIONS. Posted by Wm., Palm Beach

	Disssssssss-staaaaaaaaac-tions. Posted by Neil W, DC

	NOP!!! Thain should ber in an orange suit, but than so should a lot ot other people at the banks... Posted by George brewer

	Are you kidding? This guy has weasel written all over his face. Rex is correct on all counts. Scum like this guy are just rubbing it in the face of America. When men and women willing to work couldn't find anything, these crooks gave themselves over 20 billion in bonuses when the house of cards was falling off a cliff. And they want the people they screwed to bail them out! It's good to be King. These people had carte blanche to be as crooked as they wanna be under the no rules needed Repubs, and they don't want the party to end. They should be in jail yesterday. Unfortunately banking reform is looking like health reform or any reform whatsoever. It all comes back to the Dems growing a pair and getting past the "expressing outrage" stage. They certainly wont get any help from the pubs on this one either. Posted by Fairly honest Bob Lapine, Or.

	There you have it Ed Schultz...EVERYBODY HATES THESE FILTHY ROTTEN NEOCON/BANKSTER SHYLOCKS! While I admire your bulldoging about healthcare...the scumbag Globalist Treasonist, Seditionist BASTARDS are end running a touchdown stealing our wealth by Loan sharking USERY rates of 30%!!! I implore you to call them out with terms like LOAN SHARKS...SHYLOCKS...SHYSTERS! I pray Eliot Spitzer returns and avenges the way the slime set him up with the whore and stopping his Wall st. investigations in it's tracks! Gov. Paterson is a CHUMP for Wall ST. LOAN SHARKING AND JOE LIEBERMAN ARE AWFUL FOR AMERICA Posted by corky melon Boca

	Wall street,Dow Jones etc, has to be dismantled. Stocks, bonds,derivatives are the cause of 99% of poor folk being POOR! Posted by chuck,sanjose,ca

	YES, The democrats burned down the house not the banks! The Bush administration recommended the most significant regulatory overhaul to prevent a financial crisis! The Bush administration recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. Under the plan, disclosed at a Congressional hearing, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios." Democrats pushed back. "Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing". These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis", said Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing. Representative Melvin L. Watt, Democrat of North Carolina, agreed. "I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing," Mr. Watt said. Given the above, the following would be great questions for Barack Obama. 1. Why did you stand silent in 2005 and vote with the other Democrats to block financial reform which would have prevented the current crisis in the financial markets? 2. One of the primary reasons so many bad mortgage loans were made in the first place is that "community organizers" like ACORN, for which Obama worked, spent decades pressuring banks and bank regulators to do more to make mortgages available to people without much in the way of income, assets, or credit. These campaigns often were couched in racially inflammatory terms. Does Obama still think that banks should have made these loans? 3. Why did you not favor punishment for the former CEO of the bankrupt Fannie Mae, Franklin Raines, a man who personally made $90 million over a few years while cooking the books Enron-style at Fannie Mae? And why did you have Jim Johnson, former Fannie Mae Chairman, helping you pick you VP before the pure embarrassment made him resign? 4. How can you blame John McCain and the Republicans for this mess when you yourself supported the easy credit policies and refused the needed reforms for these programs? Republicans proposed increased oversight and regulation of Fannie and Freddie, but Democrats fought it. (This whole thing had its' beginnings in a well-intentioned law during the Carter Administration) The Community Redevelopment Act, which was designed to encourage minority homeownership. President Clinton, influenced by multiculturalism, encouraged it further by dictating where mortgage lenders could lend. Tough new regulations required that lenders increase their lending in high-risk areas where they had no choice but to lower lending standards to make loans that sound business practices had previously rejected. Clinton cronies Franklin Raines and Jamie Gorelick became multimillionaires through their supervision of the quasi-governmental agencies that came to manage the real estate market in America. Banks are in trouble because they are affected by unfortunate laws made by a Congress that does not always understand what they do. Remember that most congressmen never read the bills that they sign. Congress has long been inclined to well-intentioned regulation to help the poor and save the planet. They fall in love with the goals, and never consider or learn about the consequences of what they do. It seems kind to help a poor family get into a house larger than they can really afford, with less of a down payment, but it isn't really kind. Kindness would be helping them to learn how to work hard and save their money, and how to move up to better jobs. Government can make it easier for private industry to build smaller, more affordable houses, without telling them what kind of houses to build, where to build them and under what qualifications to sell them. The great problem with Socialism is their pursuit of "social justice". They believe that they can make the poor - not poor - by taking money from the well-to-do and giving it to the poor. Never works. Though there is extraordinary mobility in our society, those who are induced into dependency on government are inclined to lose that mobility. Barack Obama, in all his economic plans, is extraordinarily invested in the pursuit of "social justice". That should be a serious warning. Barack Obama is out trying to blame this all on the Bush Administration, as usual, and scare people as much as he can, so that he can promise to "rescue" them. But his solutions are the worst possible, and his speeches are irresponsible. Democrats caused a total melt down in our financial system we Americans face today beginning with the Carter administration. Do your own research, try Google search, anything to help you from being so misled. The Bush administration clearly warned of a financial crisis, tried to fix the problem. Get well soon redneck! Posted by Shawn T Cerid

	Ah, the art of cutting and pasting. The Repubs were in the majority during the time of these alleged reforms, So why didn't they pass? Somehow, history tells me any 'reform' under the Pubs is self serving. Perhaps it was full of back door deals with insurance companies and banks that would have given even more power to the wealthy. The greatest transfer of wealth in our history took place on Georgie boys watch. Thanks to them, the disparity of income from the top to the rest is the greatest now since the Hoover days. (another Repub) I'm sick of the overused Socialism, pull yourself up by the bootstrap bull$hit. If Bush was out to save us, maybe He should have listened to Clinton when Slick advised him as to how dangerous Bin Laden was. Posted by Fairly honest Bob Lapine, Or.

	THIS IS ALL SUCH A DOG AND PONY. Bush used fear of TERRORISM. Obama is using "Fear Lite" and "A year ago we were on the brink of depression..." and on and on and on. Obama, Inc. and the DEMS scammed Americans. Posted by AB, Beverly Hills

	John Thain is part of the "Good Old Boys Club". He deserves prison, but instead will be rewarded with a new job that over compensates him, because he is part of a network of crooks protected from failure with our tax dollars because they can't find anyone else outside of the "Good Old Boys Club" to do the job. Wake Up, John Thain is wreck-less & criminal. The Wall Street, greed, gambling with other peoples money, business as usual & too big to fail needs to change or we will be put in a position to have to bail them out again. I recommend heavy regulation & break these companies up & take away their monopoly hold over Americas Economic Security. We need to move away from an economy based on paper shuffling & get back to small business & manufacturing. Posted by M, Fargo


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