And the mice a sunny day but these should -- me out there we above freezing on North Korea she has 38 it's not so bad. And was asked people like seven large survey but the driver was good. Draw write and hear my sunny day although will be called for the remainder of the weekend the weekend. So this work couple leaders and you should be defined generals -- after seventies for highs on Christmas Day I'll take it nose wrinkling of the weather. It lasted almost replace some of by the comments yesterday from president elect Barack Obama basically saying they're going to be changes in how. The second half of the 700 billion dollar bailout money will be spent do you agree or disagree we're being asked to say here will take some calls. 26. 187 he first he says yeah how about those changes. --
What -- or make sure. That. --
And the president elect also says the LA it's all admitted so by the handling of the bailout money has been troubling many of us have -- reported. --
Printers. Failure to -- how it's spent.
That's 350 billion dollars of our taxpayer money you're listening earlier this morning one of those who spoke really out loud and clear. On the Senate floor yesterday was our own Louisiana US senator David -- And voicing his opposition. To make before we hand out any more this 350. Billion dollars we need some changes here. -- before the funds are released we need to set up some rules and some regulations. And give the American taxpayer an opportunity to voice disapproval. So are asking the question this morning want to get your response. To 61870. Because we are still struggling. In the financial sector I mean. Basically after the three and a 350 billion dollars -- release is your life change having eyes and affecting your job your lifestyle. Any change whatsoever hasn't affected the stock market our own. -- is like we never put the money in there. So 261870. Should we or should we in no hurry to get more of his money out there or should we delay it. More on what president elect Barack Obama trying to explain. His request for the rest of that money what he'll do --
It is clear that. Financial system.
what has happened Bob you said there has been a slight improvement in the nation's financial situation. I call -- President Bush. --
And President Bush responded. He didn't release her and request congress to release the 350. Billion dollars current -- for trouble assets relief program. Because the president elect requested debt so. What about loans he Syrian president elect -- Barack Obama that maybe this time around we'll take. Some of this money. And see to it that he gets to community banks who built -- always big financial institutions. They were supposed to lend money to smaller banks so we could get loans.
get get this the of the credited the spending going in by of these toxic assets and it was on them on their books but. -- I -- spending even got better not.
So basically because the money didn't trickled down to the smaller banks. And we ask this question earlier we'll take some more calls on this have you tried. To apply for loan lately could you get. I mean what -- excuse if you didn't why not if you did. What did you do and how did you do it and small businesses. Would you lose would you be in favor of getting some of his money to pay back. Gotta pay back and -- me.
Panamanian let me start hearing things like this was the best course of action do you get the money flowing you focus on small businesses and to make sure that credit is -- do you also focus on housing foreclosure.
And would you be in favor. Of homeowners who do have some of these mortgages that possibly face foreclosure. Bailing them out.
Once take some calls Monica okay so Warner all right -- some -- let's go to a hold on daily going to give back to that recovery school district -- comment -- Robert on a cell phone go why Robert. Yeah I ordered five fine the whole idea now should congress hurry or delay. Releasing that second half of the bailout money the 350 billion remaining.
Well Mike it's obvious that they've issued a way to reason being is -- dump 350 billion into the economy is no impact. There's nothing of any urgency right now. They have all the ads that so all these -- information available to them but all these economic expert. It's clear even to the common got a public school education back. They're not sure what this bill. So you know audio samples bush in the Weizman has its say I think at this point didn't hesitate released -- dog if they really don't know -- never been in -- situation like there's. And I -- talking about our tax dollars. I don't know for sure if it's our tax dollar so it's just fresh printed money that's going to devalue. -- truly going on with battles.
bank -- has a very good question absolutely. We don't know -- a pretty good reason to delay. Really it.
I hear the president talking about transparency. The president elect comes aren't. He should know already before. A good we've spent the first 350 billion. The transparency can sort of had an idea he's he's putting together a team he's he's got he got elected.
He should know what's going on and he doesn't really now he's not convincing me and became convention may not be going to commence.
Congressman and a coming up they're saying look what's going with this money.
We of the members of congress in the case met with President Bush says the sky's -- It really got to do something yesterday showed there right away right away and promised land there and he knows that everybody voted for but there him approving this 700 billion dollars. And they say. No what we've got to think accountability of my in LA film you know how could that even happen.
And their lot of folks say you Heath did do you do you think. That there are a lot of vote people Robert were really angry about how that money was spent.
I I think that law and the people that are angry about it of people that are really involved with the market. And people that are out of a job because it fell in Louisiana it appears -- in some type a bubble -- would not really feeling the crunch. But I think he inevitable going to call. I'm not an economist but -- all. I'll I'll listen to play experts and they feel like if it's coming here you know we're talking about gas price that's all and have an impact what and when it hits in Louisiana you guys can have a lot more people call and say. Okay. It's not --
Proud doesn't seem like the first 350 did work and we're talking billions of dollars here did you hear the comments from sounded -- earlier this morning saying. Besides this then the new president -- going to have to deal with a stimulus package and we might be talking a trillion dollars.
Well I'm gonna say two things in them what you guys that you -- have other caller the first thing is I'm a comment on -- elect incumbent president elect. He commented that he has a package we have to pass it. So she's coming up with. But bush idea let me put out there that they look. Scott is all that he made a comment about it was last week or earlier yet know what -- actually -- this week. This is my package we must approve she doesn't really know and they shouldn't approach. Under of people with -- Domingo about it that concept but to educate ourselves tell people going on if you don't know assembled disrupted going to try. David -- on the other hand up and an opportunity to actually speak with and then. And add an Arab element of familiar with David bitter cost more than I'm a Barack Obama. And it didn't really look at for transparency usually. Shamrock I would have only ideas but what I do know is you need to show us where it's going how it's gonna get there and what impact do you expect. Simple word -- majestic. But politicians would look up logistics. In the dictionary. The rest of us would be there are talks.
I'll keep their nomination -- and our nation deeper and deeper intently mr. bidders said hey what's gonna happen down the line for our kids and grandkids I think we know what's gonna happen. We're just people common people we understand what's going to happen why don't politicians understand going to happen. A must have their own agenda celtics' -- calls thanks Robert -- 61870. While news do you agree number one should week.
Hurry this whole process some for releasing this 350 billion dollars or should we delayed. Make sure that. Once and for all we set up some some regulation some rules some transparency. And make sure that. Yes this money supposed to go somewhere gets there. There -- money that was supposed to go to local community banks so they could -- amounts of people to go and buy out by a house. Have you tried to get a -- must talk to us get to that point I'll talk -- people who try to get a mortgage yes on -- under try to get a mortgage heated did you get it didn't view. How to go 18 past 9 o'clock and WWL Bob -- here right back. -- will happen to be first half of the 700 billion dollar financial bailout. Here we go we we -- the major banks in the country. What they do do it today that they help out the small community banks wouldn't use that money to buy him. There's a report we had early this way many the trying to gobble up.
The smaller bank I don't does have a sitting on their balance sheet and not -- that let us Google owns an early got a consumer.
Wants to get a mortgage have a tough time apart the Lisa who apparently she's trying to get a mortgage right now Lisa good morning do you. WWL Bob Dole -- Monica --
Monica. Yeah early get a mortgage but I have not been told there yet but what one -- with a cousin -- it outlook and a house aide acknowledged or -- occupied over here. And without enough. You know there -- real estate lady you know what has happened with the previous offers you that none of them could get on Internet. Senate would cut it kind of concerning to me out I'm sure -- should be able to get it might credits good answers straight Ellis told I would be able to get percent based somewhat on credit. Buy it it evident I'm still wait -- St.
What percentage of a down payment to got to put down.
Well I had and they normally point is that the -- to -- add to their seriously can't separate mail. Wolf they can't there's a lot of being an account it has to be done yet Hewitt I mean a lot but I just basically got -- did. Chirac did you know it did that but there's no for the that it -- You got to work Maria yeah yeah -- on the water I don't think -- street I don't think we're gonna get out of here for very long term hopefully not in my life terms -- say. And I -- I know I'll roll the dice are kidding I know that comedy background bacteria here. It's imminent mpeg two in the background I have 55 girls at 8851. And one. -- that's what happened to think a great issue that you become in the coming to and that's what else.
What's that what's dead duke and they can't. Okay thank you keep me. That was another story we're gonna get get into this today we haven't really had that much time but there was a survey done. Apparently Monica -- 30%. The -- these these working dads and 30% and said they would quit their jobs. If their families could afford it. You think your husband would be willing to do that -- five children.
I Bobby's got a bloodletting it's got its bad say you know I think it could be and -- I think -- I you know I think -- top I don't know I think you likely does I think you're really enjoyed trying to help people and that's something you would totally quit. I don't think he definitely liked that term for himself -- well.
The -- have a great family regret great had a chance of good luck duplicate your mortgage.
I thank -- outlook imported and get ballot being it would be great to -- I mean I've never actually went live on the Warner about a war came why it took up front door and Hurricane Katrina that we didn't like we got damaged. But I'm looking forward to maybe you know get out there -- couldn't get it out there.
Please don't. That's like has all about it and they enjoy it. Jim Lowe says he was tonight we'll be -- loan mortgage hi Jim good morning Bob Monica evidently very. Bob you are gonna -- rise he went to get a mortgage and they said no one hop and.
Well let me tell you are great financial institutions that we bailed out. I totally on long long there's no long dormant. I went in just get a lot of equity guys said no question you probably didn't do a mortgage. -- OK let's go markets and they said no to the mortgage. The same -- it's sad note to the mortgage so that -- black card. It'll only demonic but it probably have a substantial down payment and it charges 17% interest to.
So yes the car no deal yet no deal no deal no deal could sit here until. It brought back pocket mr. bank. The -- is -- admonished and that their backpack and we shouldn't get my darn. I appreciate your comments of C. There -- no problem then it's all itself all the Balanchine let's go to Mike and Mike Bob Monica go add your comments.
And gal. The bail out -- David bidder is right all non combative figure out awaited turn out this buyout. If you would go look and see what my injuries for even less money I know for a fact that they're somehow related buying it or not in trouble they're bored about. Ended their comments so many words that get the rest government can get it wages servitude to build our equity. And does not orders for.
No supposed to go down nine begin to get back to the consumer. So we'll be able goal and and you know afford. The lifestyle that we would like to have in this great American arrived right -- going that way isn't it under.
Not post up the area where nesting don't come to credit card companies IE I mean if its -- go to somebody turned at all.
The flight Lisa -- his five kids you do for the older ones little little -- was once sub untrue you just can't say no to me.
I we're Bandar bin -- got a mortgage -- glory we're not the born a woman it.
And what about homeowners who are in trouble. Should we just hand them money we got a call this morning saying they. We we think -- 350 billion dollars in this money should be handed over for people who are in trouble who are facing foreclosure. Possibly can take that money and bail themselves -- would you be in favor of that.
I'd rather deal directly with the consumer have been -- beyond the power debate.
And appreciate -- coming and Hamachi give them. How much he -- someone if someone has has not been it for whatever reason whatsoever. Two live up to the responsibility. Of this mortgage they signed for how much money do you want the government to hand them. You know I I don't know why. We need to freeze the foreclosures until we figure out what's going on bullets we have have probably want to do that just freeze a mall. Billion when I don't foreclose on the road and look at all this and decide once and -- raw again it would go would delay. Because that's were talking about when our question should congress -- or delay. The sun other 350. Billion dollars we'll take our breaks the news and that will take some more callers. 261870. Outside a -- Area code 54866889887. So try to get alone lately.
We'll play did okay hides it do we got war ended okay. --
Morning -- have -- how are you -- Monica WW. -- white scenario in. We ought to hold both free and clear about St. Tammany and table with them all we got -- Lon. Obama celebrity all bounce and at all Chase Bank okay and then -- home just three weeks ago home. All over what could be used put off. Well we went to get a refund is like to protect this loan was could -- years. All interest and all principle anyway bomb. We went like two weeks ago -- chase we got all 110000. Dollar lawn and it could be locked the end at all. Like solving a quarter percent but I credit scores like 740.
The -- unfortunately he we've gone down this road before right Monica in the for the most part 740 nowadays is and many many cases unheard of CN -- good priority at the villa with a reality it was going on yeah that's notes and hey hey congratulations -- solid. The and I think a lot of folks to do have credit ratings. As high as yours. That if you are paying a high interest rate right now on your present mortgage -- now's the time to refinance yes so -- get a much tolerate absent you. So you got yourself a good. Well before you sit there reading yeah I appreciate your cart who got a lender online to I think. The petty petty -- you there I pay you more about Monica.
The W and then on net income wanted to comment on the gentleman who was turned down for alone eighteen resentment of -- caller before you. Basically they're they're the fret about a bad true. Cool it's kind of Fannie Mae and Freddie Mac money. -- likely quality secondary market. They they've put Steve blenders to jet off to. Are so many of bisphenol -- battery involved. Based on they'll fight -- that four letter dirty large fight -- that credit score. That we are not in a position anymore to make decisions based on. What we feel about it -- individual you know we've got gentleman had a credit score that was below 580. They had no matter how good he was that in every element of their life. Bad credit score would preclude us being able to -- any money killing. And it's they -- there -- Debacle with Dion. A prime lenders that created all these issues. So even when you hear right now interest rates are five or samples four into quarters were a thirty year mortgage. If that individual. Has the credit score I -- you let them. They can't get a mortgage without paying a lot of steam without upsetting to what to expect great -- at least three quarters of a person can't. To meet their requirements. Under 800 pregnant -- front blunders. Would although they're necessary adjustments or interest rate increase.
Where did my Kennison on the literally as their move to get them to lower that rate Fannie and Freddie are these still fighting that.
Well we're fighting it and Louisiana. Because we feel that we had fewer problems in Louisiana with regard to foreclosure. Our economic issues are more related to Katrina. Rather that at their current economy. So we -- being penalized god spoke. Who want to borrow money at being penalized in Louisiana. Just because these additional these are imposed across the nation.
Does nothing additional fees what are we talking about -- what compared to pre Katrina what they are now launch. In these are closing costs please.
These are please could impact the interest rates they are I don't rent space -- your level of I don't. There -- adjustment based on the amount of down payment.
I personally got bad credit whose credit is not as high a previous gentlemen I'm gonna get an extra fee for that.
I'm glad -- are there are additional fees imposed if you want to back out front and in bad. They -- even if your -- like 25 or 20% -- They are going to be these are imposed because you'll want to buy property for investment purposes they -- considered higher risk glow.
So if I'm gonna limit if you're not gonna live minute. And that's gonna cost you more.
Constant -- so you know they are these imposed for every layer of credit -- and you know impact. Across the nation and consequently even though lender wants to and -- they are no. On rendered the hindered any longer you've got to meet the industry standards based on. -- ratios and fight goes scored an audit to get the final yanking your record and.
Slip by had a relationship with you -- for a long time that would mean nothin'.
Yeah yeah mother and retry Barry yeah that we try very -- all about customer. You know how I work with used its mortgage here -- a local company we've been in business -- more than fifteen years and we've made it through all the struggles. Over the last fifty years there would still be aware of honey don't and I we can only UN for the chosen. Because of deregulation and then call.
Which happens to piece of property that you have to foreclose on I mean well I mean. I'm gonna explain --
We're all about we are aware and we don't we close Stallone and our own name and then re -- bad mortgage in the secondary market. That's where Fannie Mae and Freddie Mac coming and I actually -- And somebody else will start -- the world -- not a broker because we funded an hour now. By we we get to determine when we're gonna sell that loan and the secondary. Market so because -- that I Babylon there we don't have the foreclosure rates could. We don't own the property we we are actually selling the paper and we don't serve and that we don't have the responsibility. Of the four.
Call as a consumer do I have any say in whether or not to sell.
Not he -- is close to matching you up front that we fell a 100% of my alone. We don't know when we're gonna sell it but we.
Do so that aren't we know that's one of the multitudes of paper that I have decided the glow I think I've had five different institutions all my mortgage renowned --
I got -- applications so you can make that decision not only all I mean that we we are. I'm very heavily with the -- disclosures we got to give individuals. And you know everything -- disclosed upfront and down. If people can make their decision according boy if they would prefer to work -- about a lender who read change everything. They are very few in marketplace. Could do retain servicing 3-D institution that would formally known as savings and loan. Some of them we -- 100% of their -- comeuppance -- But the majority of the way under an -- an earlier. Or either broker. On old mortgage. Bankers that we called cool clothes alone in our own name and does determine who -- additionally -- later rather than I -- a top.
The people who have buddies credit ratings of the seven and the 700 -- What determines all of that I mean is that your its total assets that you have.
Yeah it actually is not you pay your bill. Ratio is how do you pay your bill it's how much you -- How high your balance your dollar in relationship. To the limits on your credit card. The things that impact credit it would lately it's it's it's been -- we feel lot of people who. -- have perfect credit and may have a seven -- or even a 740 credit score. And maybe. I'd dot appeal that -- hung up wish. The health insurance they get resolved. And that little not to bail of 2939. Dollars -- go into collection. What that person's credit score we've seen it impacted by as much of a hundred points. Just because they never went --
Shouldn't count. We never did not know that the medical issue number -- it was -- clothing collection they would just trying to negotiate with the health insurance company. But it any event and that type of collection account was somebody was otherwise plus the credit -- be brought -- by as much as a hundred points.
But it going to be able to be prepared if you get a letter in the mail that are yellow some 45 dollars or something -- put up for collection you don't say -- I don't really old that is going to waste -- really affected product.
What about my recommendation is -- and private later on live on the idiot. Give it don't panic it's going to impact your credit we hope you up a lot of folks like you did -- and that's grew out. I hope people understand that this is only you can manage bad credit. You know they aren't so people with mistakes and a report but with today's technology that mistakes are greater. Yeah hundreds of reporting is accurate.
very good thanks. They are she's a wonder she should know 261870. Give us a call and you applied for alone. Todd you -- on him what were the reasons that you were denied our Roy or Brodeur or did you receive little on the troop Y four. And any credit card storage had some pretty good ones earlier. And he received a letter from credit card company lately what I tell you I got on the other day. CPI. Of credit card and I got say because I never use it to canceling it and they lord my credit 200 bucks. -- even -- carried a thing I don't care but I'm carrying around for 23 years and -- I don't use it because I don't need it. No I should've asked patty yeah does that affect my credit yeah a twelve and a credit card I don't use a million. Probably. I'm I probably drop below the 700 level it's 944 year WWL Bob don't journal.
Monica -- Ask him so the question this morning on this annual Father's Day survey. -- 37 miles per -- of working dads. Would assume -- mr. mom role he the stable -- the children take care of the little -- I would rather. Chinese torture all come on yeah -- those kids. Stay home with children to angels -- your kids about not my kids US kids TC via the motion picture Michael. Yeah Bolton not my area there but we got a -- out at the that is not my area a caterpillar runs as -- this and this senior marketing communication manager. For a career builder dotcom billionaire didn't -- and -- K yeah. And yeah. I take a more -- he's a terrific father don't believe what he's saying hello my kids be as -- they're all there are good they're all grown concerned narrow belts now there were some of them were children. Sometimes. -- can be grandpa and take care their can't talk on the -- since his -- was leads in -- and a few hours and then a new year you hit the road but about the so its interest and.
Can't for the survey that we have conducted for cavaliers and around we do. I'm conducting a great grandfather's case though it the most recent data. And from June of 2000 need to and will we have found that working dads 37% of them would leave their jobs. If their spouse or significant other. Could comfortably support the entire family. And I think maybe in these days wouldn't win in the economy and jobs are. Are a little bit harder to come by that's an option that people are looking am more and more.
And K do you find them a -- with younger kids sing a little and fence and those Olympic you know smaller that they really want to spend that time with them.
While this certainly. Fathers -- children under the age of eighteen and so it -- of all ages but. And many of them are struggling to find that perfect balance between work and and failing -- came. It's it's pretty much any. Any child age.
So these these these particular dads who would like to change and stay at home. What they know about it I mean. -- do you just from working you know leaving. The hole and going to work -- office. Wherever you're going hottest thing in -- home. To me I'd probably turn on the ball game.
Yeah I think it is probably as dodgy past as he -- children's. -- just eight. You know you can -- it just like any parent it's for example would be the exact same as. A new mom who has just had her first child and is staying home for. But really pretty new father kind of wired and you've doubtless figured I'm going to. C. They need the advice of experts people who of standing in New York situation whether it's. You or your family members here -- your parents but also you can you can look at. What other parents have gone as examples and -- and kind of use your own instincts I think it's definitely you're not going to know right away. How to handle things and it's it's going to be a learning curve just like everything else.
As a basically of the learning curve is there and I guess to speed on -- mentally. Decompress and in the brain your job and all that make that experience and environmental into the house because now in its changed.
Sure sure I mean -- seen. The sound of music where the general. That he he -- eldest children. -- part of his troops so it is that this kind of a way of bringing their work. Into the home I'm sure that they're all kinds of ways that. Professional life can translated to personalize and vice versa. So I think it's just making sure that you understand that you're dealing with children and died.
So did you work. You're working dead you leave the house and you're gone for. I'm forty hours he. All week that does that have a negative effect and the impact your kids don't see you at tech can.
And have a negative impact. You know. Only 22%. Of working dad told us that their job and had. That negative impact on our relationship with their children. It's more of a time management. Issue of planes into the destruction of that -- time. News. They're not they're not too worried about but this time.
But it really it is hurting your relationship. Like missing baseball games recitals. He Hamburg days. Tell -- how that problem because I coached -- team. Now if I knew him -- the ability test is this 37%. Of many fathers would like to make the change soon you website where you get more information. Thank you got a career builder dot com worth. -- website and America. Very good but I will be -- thanks lots. I think you are -- Willis thank you very much and it's a 954 your WWL. My kids were little they want zero -- a little PM I know I'd be going around hollering -- It's 954. WWO Bob don't juror Monica pier right back I go into which do.
Oh going to have a managing editors citizens affected duties until some people. Work miracles and so on. Sort of episode red rose that you're going home. Oversaw about budget cuts then I'd be sure to short to show about all the money coming in this area. We'll talk about the national world economy and we have some good news market does something about a new projects for New Orleans and I didn't have time for Gerry appreciate institute for Garland chairman -- run out of time -- your home with the kids Jerry. Right now you have a difficult tomorrow morning well I'd love to talk review. You may have a sole custody of your children and.
