Nothing as cool as they're having up and America's heartland. Up in Wisconsin and Illinois and Julie -- a Duluth minute or how about Fargo. Hall hall format -- normal -- And even have any hills to fall flat limits of tundra they have the blue locks and lounge and other cargo bay -- so -- 29 on the north shore yeah. And 48 no one dime of a degree yeah ended so what people -- scrap and squinting a little -- awfully the windshields -- today. And we'll get much for the school whether -- not go ask for another week. You're gonna get away from it and so make sure -- heaters are working good or not. Seek help -- it's 11 minutes past 7 o'clock here a car warmed up and our hurry. WWL. While we're talking about a lot of things here this morning should congress Russia the rest of the bailout funds. Or wait and tough on the rules and regulations. I would do a safari already jaguar okay and open questions is relax.
Or delay a 68%. Say -- congress should delay any kind of action 32% say they should Russia. -- president elect. Once the money now. Once change change the rules a little bit but basically. Also change -- aware. Of this money will be dedicated. For example he's talking about now on okay look before we comes out the major. Banking industries now let's help out the community banks small businesses. And consumers may be some homeowners we have some callers this morning. -- much -- we've homeowner habits are looking toward his home being or her home being foreclosed. Home how much. Money shouldn't be dedicated to I mean use of hand people know -- been irresponsible in the first.
Place -- more money. Two maybe blow bat so your comments to 61870. And also fact that you know next week we'll even hear more on the president elect as he becomes president of the United States. He wants to go to congress four is once stimulus package ride ride and an answer from billions of more dollars. For the stimulus package to provide jobs. Four rebuilding. -- what is the purpose America's infrastructure so on a yes or yes create some jobs that way similar to what happened after the Great Depression. In the 1930s. But another question is what what will happen if there's money of -- becomes available through congress. If the president suddenly discovers. There are people out there that are willing to go to work. Do -- jobs and David jobs a lot different than it was you know sixty years ago the whole attitude of America. What do these jobs gonna today. Are people going to be willing. Two you know go out. I guess. We probably have the highest unemployment rate every now -- almost 8% people have been losing their jobs on two point eight million last year some of these people don't know -- want to take Kate -- a government position a job to go work on. On construction. When it's probably the wages to be much lower. Then it to their previous job that they lost. So how it's so many questions but we'll listen to Europe possible answers -- better. Join us this half hour Bob Dole drawn Monica pier. Thirteen past 7 o'clock AWW we are expecting calls you listen to David better yesterday Imus and explorer opera voicing his opposition. To -- President Bush's request to release that additional 350 billion dollars. Under the troubled assets relief program. And behalf the president elect Barack Obama. A who says he needs the money in a hurry. No delay another 350 billion dollars for -- bailing out. We've been asking our listeners well do you agree or disagree. On the early -- we hurry this thing up should we delay it. And so far. Yes 58% say delay at 1042% say Russia carried -- I think. And though what should be different this time around. You know president elect Obama says oh may be no women. You know funnel some of -- money down the community banks and small businesses are about our homeowners are in trouble. Maybe going to have you -- their homes for loads of foreclosed. How would you like to see this money spent this 350 billion in the and how quickly let's go to Steve on a cell phone Steve Bob -- draw -- Monica -- to Morant. -- Guess how this money be used in this -- in fifty billion dollars less than the original authorization by congress.
Out a papers. Think the government's taken. And freeze all these bank book poses to wear battle but they can play it I don't believe that. The money should just be taken to -- all I agree with the collar that was there a little while ago. Very good works are days that pain is -- them. And -- all the but it it's should be should have come to think the bull. I don't agree with -- the money was given. The the first. There weren't many restrictions on it. So much that money was given to. The bonuses -- salaries are thought of that nature that should have been taken out of the fact that they're probably was in trouble. I mean you when we -- operation. And you're not doing well you have to cut back and learn to do bullet left.
And that really was being the issue because a little at this particular time there're a lot of people who oppose the fact that. Hey this is 350 billion dollars it's just gone. And -- really have any rules or regulations and how it's going to be spend my taxpayer money and it's not about accountability and caveats after the horse -- out of the born right.
Correct and and what how do we get this situation requires quite a mean the first situation that the banks. We're trying to do is get a load. -- and I had an article that was talking about how you know they'll give it loans -- unusual briefing. Whether you made the -- enough because there were getting paid. The beat them all off the beginning they don't getting so many low.
Absolutely there was. This is they -- so much of of of of this money that was loaned out had no possibility whatsoever. Of getting paid back Ron does.
I think that's what have -- institutions. Should be made to freeze its -- it they went through I think every every every Obama's foreclosures and it looked back. And if they went through it and believe that individual. A loan put something that they could out of order based but they're burying. Band that's bank. Should happen -- or closure and have worked out a new reconstructed. BO but that alone but that they cannot --
A guy like freeze like a freeze idea Monica I think there would make a Lhasa and now. There are a lot of people to Steve you have to realize that at the time. That they bought their house they could afford it yet there's always serve from -- you know you lose your job I get.
Again sick if you look at their mom right -- be put a lot of onus on those who had the market say there all the same they just want to too much how.
I dug it they can't treat all of my you know is that the banks put an -- just make numbers. Should be looked at Tripoli but from those that lost their job because the bill all industry because -- because of whatever reason. You know and if it need to be looked at separately you can't just pop but it all of one popular -- it is the right thing for everybody.
I like I like his plan -- good idea appreciated Steve thanks a lot we -- listen want to respond we ask the question though sharing the wealth. And I believe it's a Tony hi Tony good morning Bob Monica Debbie Debbie Al.
The one about the -- and one -- I I was just I was just wondering you know I'm. If if we use this stimulus plan and and I had a you know. To make a big impact if we paid our taxpaying citizens anywhere from 10000 at 25000. Then we would probably open number of areas it would allow an American because upon a mortgage. It would allow those Americans that of the delegates standing with a mortgage the star -- that things. Would allow some consumers to could be just that the go out argued that money -- that starts spending so basically this similar packages is there to stimulate the economy. That we continue to bail out these corporations with -- but it's not gonna get different because consumers aren't spending money that the bottom line.
So you're saying that this should be a way to to increase consumer confidence at a point with people would go on a suspended because they had this extent influx of cash in which to do this but it's very sue but is it fair.
To the other. Fifty -- what the percentage of music everybody would get this. It. Is that possible I don't think that I don't think you'll be possible before it for everybody to get this event and again would -- be fair. -- I would. I'm not willing to share the wealth because I work thirteen fourteen hours today. That's not -- out and I just. -- how many other people have to have them if you give them 25. Thousand dollars is that going to give -- more than some of the work hard I don't think so Tony.
You'll still the going to help me to work -- that I'm going that was going to be bailing out the real estate market those people that bond and -- and and I went into job to keep mine.
I don't like the other callers idea is that what you say but I like the other -- idea like let's take let's put a freeze. On these mortgages that could be foreclosed and look at them. Yeah. I'm again I think time I I was -- a blogger for talking about timing and tougher rules. And delays maybe it. Yeah it's time to do and some argue we don't -- I just don't know what the real course of action should be well -- David did appreciate Tony because some of it is calling a symbol talk to you. At 26187. They aren't the cold the cold will last for weeks I go away. Could get colder tomorrow and again by Friday the Norstrom probably into the blue mid twenties for the lows. Right now and our -- 29 degrees when your little brief warmup. On Sunday probably would get back into the mid fifties but every I think for the next four or five nights. How we're gonna get freezing and and frost on the north shore to -- We do have 29 degrees or 37 degrees at Armstrong international airport 24 past 7 o'clock. On WWL IMF -- dot com tell us welcome men us out there read -- better Louisiana good morning sir Bob don't draw -- Monica pier. -- and be ready for sent a bit you their. Unending delight my I had a good morning there I'll tell us what she told. -- them the Senate -- severe opposition to. A release in this additional 350 billion dollars.
Well as you remember when congress first passed the 700 billion dollar bailout. Over my objection elders objection but it passed there is a provision that to go into the second half of -- The president had to give congress noticed and then congress would have an opportunity to pass some version of disapproval to stop the program mainstream. And solve all occurred in introduced that. Resolution of disapproval. And we should do that because I think this program is riddled with problems and hands and solve the problem was designed to solve which is to increase credit in the economy consumers and small business. Meanwhile what's being changed every week every day there's there's a new idea it's an auto bail -- it's this it's. So has become sort of a slush ball and for the administration to use absolutely. However they won't.
As such a bitter but this formal resolution of disapproval does that mean that -- and that not be used that all are eighteen they can come back at a later date and get it.
If this passes it would not be used at all now obviously we could. We passed a new program with the new parameter -- blonde was and one more accountability.
So the president has requested it to congress releases money correct correct. So what happens at this point here Don do if they have a formal resolution of disapproval White House and I'll work.
Yeah I'm introduced out of -- that that's in the hopper under the law that has to be -- on. Relatively quickly so we'll see a vote as early as the end of this week.
That's our poll question this morning you know we're asking should congress rush or delay the additional 350 billion and so far. It seems like delay the is of I'll voting there than do the rushing into the next 350 bill brought.
You know Bob there's no argument doesn't as a bad economy of the worst recession in years probably some -- Award to. And the federal government hands due to do a number of measures to help lead us out of that. But this program has been changing week to week it's a readable and every week and -- increase credits for consumers. And small doesn't and so around -- throw another 350. Million dollars out there. We should. Really debate exactly what the thing to do it isn't and the president elect Obama's speeding up the stimulus package which could be a trillion dollars.
Yeah that's and we were talking about that you're not of that yeah that's on the back burner are you getting support wrapped around you getting support. A greater support I don't know what the vote wallpaper don't base significant. Support terrorists are resolution of disapproval -- keep this in touch shudder to think I'm arrogant thank you said I thank you for your time and always very busy guys on the floor of the Senate yesterday seduced. Senator David bit -- asking you should congress to hurry this thing up. All right let's take a closer look at no you know. At least way to get some tougher rules and regulations. 731 on WWL AM FMA dot com.
What platforms -- sure.
Now there is president elect Barack Obama on Monday as saying that they. We need to -- a second half of the bailout money 300. In the fifty billion dollars in talking about some different ways. On distributing this money along but the fact that. Helping homeowners insurance financial trouble and having their homes foreclosed. And though we're asking our listeners. Should we delayed. -- should we immediately -- releases money and so far. 49% are saying delays 51% say hurry and get this into the economy to have an old friend Mike Anderson wants to join us this morning -- Louisiana lenders. Hey Mike Bob Monica good morning WWL.
A bit more about Monica. Who has sided on the cause -- that I agree with good senator better. It was pretty reckless with this -- after the money in a notebook back I would not mentioning any -- but I thought the executives of over the banks who are not well you know they are extremely tight on credit. One executive told me it's almost a little what they're still. And navigate the money back. So I think the standard bitter -- he like these speak out. As a matter fact that we -- the delegation go to Washington at the end of this month and I'll be with both -- bitter. And those federal and do cutting them up with what he bit players to meet with the National Association of Realtors. -- the housing -- in order.
These banks sitting on this money with a whole idea was to buy of these toxins will pocket loans and also did people you know barring again.
Well they're just not bill and I mean there was no direction no war more than the bigger picture that there's money believe or not lot of these banks are buying up. Small. Small banks in different communities. -- I mean it's taken our tax dollars or barrier in particular bad dog and they're not well in the money out you almost going to be like they'll all get along with some of these things.
You know on that was not the purpose and then -- we and we had a big scandal where. They were using a lot of this taxpayer bailout money awarding their top executives all kinds of salary bonuses and whatever.
Yeah exactly. Exactly so you know they need to slowed they need to put the brakes on and have their blot out well thought out what bigger scope withdrawn later that billion dollars more what do.
About a call unless you're listening last half hour suggested. That maybe we can put a freeze on a lot of these foreclosures is impossible to do that we'll bank want to sit on a mortgage.
Yes it is possible to be that I think there's there's there's still a lot or under or go work out for people. Who won the big the big stumbling blocks -- we're way off -- across the nation. It's still these the particular. Feed -- any we have pretty accurate jargon which are a bit on your own -- but living -- but I think there's we're finally going to put in Vancouver -- that was -- possibly February. Because trading trading goal on their hair out -- are slew of lobbyists behind them dominating -- everything that we're trying to do so I think -- here. You know of any current Euro by the federal government -- after all they're run by and if we can do away these large ridiculous fees are people acquire all -- refinance. At Skinner helped the economy big.
Kirk and what do what -- one big going to be suggesting to our isle Louisiana delegation that would be a solution to all of this.
Well be the one thing history. The most important. Deal it is to get rid of all these being compared to be ready Barack. Secondly -- go back. With FHA loans single factor 3% minimum investment. Sort of a street and a percent Albanian. And most importantly there's a program wires under -- knows what they had no idea that you are art the little column. Program it's a 102%. Financing -- don't panic yet. Under 2% financing. And the lows foreclosure rate they added over forty you're but the differences. There have to qualify they have very. Responsible. I'm delighted guidelines. For people would qualify. But it we can get people -- talk any real or even loan officer there are people out there that want to buy homes right now we're flooded with phone calls by bill because of the interest rates but the biggest offbeat wired. Is coming out with all the big scale and it -- to. The associated. Is it really -- a lot of people who purchase you know so that's similar things that we're trying to interferes. That that the week will really help the economy.
But as far as this additional 350. Billion dollars -- delay.
caught by an absolute expert the way I mean you know there -- figured out. Think we're gonna do it now the client could be -- mortgage backed securities. To drive interest rates there and I absolutely -- bad idea they're -- at -- In it we can get those great stereo. -- percent level worker very close there is there help a lot of people going to get a lot of cash you know bio in the mortgage payment a couple of hundred dollars a month but. Going up -- people -- read by rail cars student loans all -- think that will occur but biden's Lola.
I'll -- plan appreciate it might face Lama again and here thank you I always -- a -- Sosa has picked up the phone and called us this morning on this because it is. This is a major issue someone's gonna have to be decided whether it is in the in a hurry our weather's going to be delayed we're gonna find out you heard senator -- did you agree with the senator David midair before yesterday. Voicing his opposition. Onto releasing this additional 350 billion dollars under the trouble assets relief program -- want to hear from you. 261870. Bible bundle up to go about this morning go at a couple layers. And you put the music players on the this afternoon. -- we do get into the low fifties you might want to take a layer of events where industry don't get sick rides -- is still reason I'm in north church 49 to.
Greece 37. And Armstrong international airport but some feels good especially when you're inside feeling approval window if they closed window. 744. WWL AM FM dot com bomb builder Arnold Monica -- we have on garlands. 10 o'clock that went to great guest Oreo. And then we'll have garlic have been here in the 9 o'clock hour gives a little. What he's planning on doing the -- were talking about the president elect Obama he is pushing for the quick release. Of that second half when the bell.
While bonds he says we we immediately need to prop up the the economy still -- still struggling and our question this morning. You heard does senator David Miller is that there is not in favor on the Florida senate yesterday opposing. Voicing his opposition. To be requests of the release of their 350. Billion dollars so the question this morning should we hurry or delayed this additional. 350. Billion dollars in lot of response from our listeners Monica.
And now let's get an economist perspective on all of this -- going to buy the associate professor of economics and finance and department cheer at UNO doctor Walter dove lane good morning to you doctor -- you have Bob and Monica. Which figure out what is the wise this course of action facing -- that we need to do it ought to do something about our economy should we hurry. -- should we just happens -- not tap into that particular bailout money at this time.
Well of course the problem is that you want to be careful about peace with the money back. We need it quickly and -- there's several different problems with government policy to deal with the economy and in -- called lacked the one of which is the legislative lag it that it takes tied pass legislation to put the -- and then there's the administrative -- where the executive branch has -- planned out how to spend that and in their implementation lag in the problem with trying to deal with. That this type of recession that we're having is many times those -- add up to it to period -- younger -- the entire recession. And so by the time the many actually hit the streets. Within the recessions over. And so if you're going to be spending any money you need to do it quickly.
Finally did do that with a first doctor 350 million dollars. And then they know who we -- bailing out of the major banking industry of the of this country. And that we started hearing about the flaws on the we week handed them the money and men. We started hearing stories of a worthy. These smaller banks who were supposed to get this money so they could loan money to consumers were not getting yet. Our banks. We're awarding executives. Bigger salaries and -- so on and so I think the question now is that we need some better rules or regulations but how we do that quickly.
Well that's typical and that's that's the problem now the other hand we need to recognize that a lot of the body that was disparate the first group. Worse you know buying. Infuse capital into the financial institutions by buying in the preferred stock which means. That money -- it's helped him shore up their balance sheets which since helps stabilize it now unfortunately it hasn't. Resulted in did a lot -- living that's because because. There's several other issues going on there but it's not like that but he has been. You know flushed down the drain. The government can get their money back at some point by simply selling those stock back and it's it's not many that's all gone. That they have helped serve the purpose at least that's stabilizing. That the patent system in keeping it from -- lot of failures that think getting a lot worse I'm not sure. That it happened achieved all of its goals but I think things have stabilized somewhat.
And the big question to a professor -- lane is that if we don't do something quickly talked about the lag time that by the time we get everything in place the recession could be over. So keeping in mind that all that we don't do anything right now what would be the -- an area.
Well again it didn't it's just the great thing about two problems that with the way. They've made it in the recession longer and secondly if somebody hit the street after recessions Oprah did it tends to cause inflation. So at this point that type of -- really she doesn't think the title but either.
Talking about -- love in this 350. Billion is really -- financial markets dead body toxic. Possibly. Obamas -- up but you get to helping to avoid defaults. On mortgages all of which is what exactly are. Or are pretty good at best.
How would you suggest doing marriages -- homeowners some substantial -- against. To get them back payments made a problem we do that.
Well I mean I think it's a better. Being able to we'll get Vista ready people fired from time to renegotiate their mortgages. So that they could possibly take the pavement. Because they're closed because all of mortgages causes a lot of problems that. That we would really like to avoid but then -- we need tougher rules and more regulations and that takes time.
It does take time and it's it's very difficult problem to deal -- If you've got to. You know -- but he did this is a little different dead plans where. If they're just spending cash in the caches but I might -- been spent -- That this is buying assets for the most part so even if it's spent wrong it's not that surely if they don't do a lot of good it is not likely to be -- and I can be wasted. So I think the risk of a little bit less. -- in this type.
We're talking about it and dispassionate. And I appreciate you joining us doctor Walter doubling thank you. My economics an expert financings. Associate professor of finance and department chair you know it. We have while. 6 minutes before 8 o'clock and WWL time is flying by its already in two hours a lot of -- good comments and great -- if you missed any part. The 21 two hours you can always I'll listen to our podcasts anytime go to number WL dot com -- like I'm neither one of our faces and one lie you get a much of it -- you want to move -- your movie's second helpings. It's 6 before 8 o'clock a WWL was right.
Two years they -- us. In the third hour this morning program. Louisiana superintendent of education called.
If you decide on taking over school. -- that a failing in the.
