Fox Business Network anchor Alexis Glick is frustrated by the way the government's $700 billion financial bailout is being used, and suggested on "Money for Breakfast" Nov. 21 that it was contributing to market declines.
"I mean, look, we are now at levels at least on the S&P that we haven't been since 1997. You know, people are pretty unhappy with how the TARP fund is going," Glick said in an interview with NYSE Euronex CEO Duncan Niederauer. "I mean, it's got to be - I'm frustrated, I mean I don't know about you."
It's not the first time that Glick has taken issue with the misuse of TARP, the Troubled Asset Relief Program (TARP).
Glick, the host of FBN's "Money for Breakfast," told the CBS's "The Early Show" Nov 13 that the Treasury Department's move away from the original plan to buy up troubled mortgages "does not make sense" and was "actually pretty outrageous":
[T]he markets responded to that yesterday ... Look, the original intent of this Troubled Asset Relief Program was to purchase troubled assets. And I think the marketplace started to adjust several weeks ago when we started to see the size and magnitude of the capital injections.
Glick said the real problem lies in the fact that Treasury wasn't doing anything to "stem the tide of foreclosures." The anchor made the point that if Treasury made the decision not to purchase troubled assets as the government, then it has no leeway in telling banks they need to start lending again:
They right now have no real guidance or oversight to say it's a must. They've already given the capital injections, so what you see right now is a potpourri of housing conversations between Fannie and Freddie, Hope Now, FHA Securities, the FDIC chairman has a different plan. It is so complicated and it's a mess.
—Paul Detrick is a research analyst at the Business & Media Institute.
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The real problem
November 21, 2008 - 16:10 ET by c5thenIs not the way the Treasury is spending the bail-out money. No, the real problem is that there is bail-out money in the first place.
Hey, I got the wrong "CHANGE"!
Alan Keyes / Sarah Palin - 2012
Agreed the real problem is the Bailout
November 21, 2008 - 20:03 ET by PopularTechHow sad is it our leaders think inflationary spending is going to fix a problem caused by inflationary credit expansion?
Censored Global Warming Videos
PT... Plus I just read
November 21, 2008 - 20:24 ET by bigtimerPT...
Plus I just read about this...don't know how true it is, as I haven't listened to much television today...seems we are going to get another one to join the whole bottle of wax.
If you are still here, I want to thank you once again with your advice last night, did it all, you and LMM both...I am one happy camper at the moment with the results...everything I had to do to complete took about five hours, but I am so happy, my PC is running like new now too...now I just need to spend time in the next two weeks cleaning some old stuff out.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
This just keeps getting worse
November 21, 2008 - 20:35 ET by PopularTechI would never thought I would see a Republican administration bring socialism to America.
Good to hear about your computer.
Censored Global Warming Videos
PT... As to your first
November 21, 2008 - 20:51 ET by bigtimerPT...
As to your first sentence...neither did I.
Never to the extreme it is at now.
I have been furious about this whole danged thing from the beginning...still am.
Did you happen to see this? It really says it all in a nutshell what has happened, glad this guy is out, but there are a lot more I would like to see make the same exit...we have some good conservatives, we need to get more, no matter how long it takes or what it takes to do so, until then, this country will keep deteriorating in my opinion.
As an aside...I saw congressman McCotter hand Liz Claman her head about this same subject, only he is a real conservative, who was against this bail-out bull and knows it is the tax-payers $$$...I looked everywhere in vain back then to find a video of it...oh well, you get the point...it was priceless though.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Glick is a lightweight
November 21, 2008 - 16:19 ET by Advocate123She came out hard for the bailout on O'Reilly before it started. She implied that all the people who were against the bailout didn't know what they were talking about.
Now she has objectivley been proven wrong that the bailout was necessary because it has yet to be used for its intended purpose.
Get this idiot off the air; she is unwatchable.
unwatchable
November 21, 2008 - 17:17 ET by SickofLibsyeah, but did you try it with the sound off?
Works for me.
LOL SoL.... Same
November 21, 2008 - 17:29 ET by bigtimerLOL SoL....
Same here...really.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Lightweight doesn't begin to describe her
November 21, 2008 - 23:04 ET by iiiireaderHer title is something like VP of Business. I have no idea from where she sprang but I wish they would stuff her back. It was not only her weird gung-ho attitude about the original bail-out but just her overall perspective on just about anything. Did you notice that they had Glick on shows to push the bailout because Cavuto absolutely did not support it?
I really like Cavuto but can't stand watching Fox Business because of Glick and the rest of the female eye-candy that don't seem to have a lick of business sense. Enough with the pretty faces and give us some good insight otherwise there is no way I'll tune in.
BTW, as I am a straight female turning the sound off and watching only makes me realize how really weird she looks with her over-the-top facial expressions.