MH: Everyone talks about crisis, I want to talk about solution.
He intros three people, Alexis ______, Dave RAmsey, and Geraldine Ferraro!
(I can't believe I could have seen Geraldine Ferraro. Sigh.)
OK, I know nothing about the economy, so my notes on this will be not so hot.
Alexis: Stuff about teaser loans, predatory loans. The CRA - community re-investment act. Go to Google and see what Fanny Mae was supposed to do...(Sorry, I'm lost.) Plenty of things in this economy are fine. It started with Wall Street. Exports are on fire, the dollar is weak, fear is pervasive, on and on and on...
Then MH asks Geraldine - saying you're the only person in this room who has been in those closed doors -
GF references back to MH's quote that if a guy loses money in Vegas no one helps him - but she says the only one he hurt was himself. We have to reassure global markets that we're OK - t's the country, it's much bigger, so therefore it is a crisis and it has to be addressed. (That made sense to me as she spoke.)
Then to Dave Ramsey - what advice would you give Congress? DR: There are stress points. We heard if we didn't pass this $700 billion by Friday, the world would come to an end, and we heard (e-mails, etc.) from people 'so be it.' People don't want to pay for other people's mistakes, and though we have to do something about it, the fever pitch of this didn't work.
Mike says they have people in the audience with financial questions (we got that in an e-mail, that if we had a financial question, to e-mail it before we got there. Well, we don't even own our own home, so we didn't have a question

. ) On to commercial.
By the way, Geraldine had on a red sweater set, and I think wool pants, the Alexis woman had on a drapey purple dress, and I was typing and not looking at Dave Ramsey...(for those without cable, who care about these things...)