Monday, September 22, 2008.

Today on The Back Story. The Federal government is about to undertake the largest financial bailout in history. But of the members of Congress, only one Representative from Michigan sits on a committee that can affect the proposed bailout before it goes to a full vote. Quinn will talk with Michigan Representative Thaddeus McCotter. Is the $700 billion necessary? Why not take the $700 billon ad divide between the 300 million citizens of the United States. How can an institution that already the most debt in recorded human history take on even more? Who will pay it back? Why is $25 billion for auto companies a problem, but $700 billion for banks is not?

Negative Political Ads. Election cycle after election cycle, Americans are bombarded by political ads, many of which, allege negatives to candidates and proposals. Do they still work or is the public just numb? Quinn will speak with a representative from the Obama campaign, the folks from factcheck.org, and Wayne State Media Professor Fred Vultee.

Listener Comments

Congressman B.Frank has discussed some talking points about no golden parachutes foe the Wall Street Kings and of course some foreclosure relief for the masses...

I propose we nationalize a number of industries and social insitutions and start right here and right now to change the very nature of our nation from wall street -main street- to back street and then be the republic we should be...

I will return later with details on my ideas to cnaged the exxence of american life startingwith the nationlization of certain industries and social insitutions...

Monday, September 22, 2008 by Thrasher

I don't understand why homeowners and poor folks dubbed in to sub-prime loans continue to be victimized, while the criminals go scott free.

The CBC ran a 20 minute piece on the scandal, which they characterized it as a ponsi or pyramid scheme. They see it as criminal activity.

Monday, September 22, 2008 by Scott

Seems to me that an ad is negative when it attacks your guy, and fair play when it hits the other guy.

My favorite quote from President Harry Truman in response to someone yelling, "Give 'em hell Harry." Harry said, "I'll give 'em the truth, and they will think it's hell."

Monday, September 22, 2008 by Scott

Interesting "back story" from Quinn Klinefelter around the Obama piece and how Kilpatrick and Obama did not get along at the time of his Detroit Economic Club introduction.

Of course, details don't seem to matter - it's all about mistruths. Unfortunately, it seems like a campaign where I started out optimistic about the positive campaigning and spirit of debate and it turned into the same old crap. It's also been interesting how often the media (don't give me crap about it's bias, it's biased both ways depending on the outlet, Fox to the right, MSNBC to the left) has pointed out ads that are false.

Monday, September 22, 2008 by J in Detroit

disgusting ....
nothing about the democratic 529 attack ads ....
Quinn:
I won't be renewing my membership because of this ...
how about balance?!
just because you say you asked MCcain's people to come on - does that mean you need to set up a 20 min Obama advertisment ....

maybe next time i will renew ...

Monday, September 22, 2008 by north of you

Why does there seem to be no requirement to engage in fact checking of the content of political ads by the media before these ads are allowed on the air?

Monday, September 22, 2008 by Shari

Shari...

If the media had to fact-check everything, they wouldn't allow any of their advertisers to air anything. No more laundry detergent ads, no more weather reports, no more news reports in general!

I know what you mean, but I think it's kind of funny if you think about how misleading so many things are, that are run on tv and radio.

Monday, September 22, 2008 by Dave in Detroit

If the government can bailout financial and insurance institutions at a cost of nearly 1 trillion dollars to tax payers why is the government unable to ensure that social security, medicare and medicade continues to remain funded and financially viable. It is time for people to stand up and hold our elected leaders accountable. If taxpayers, generations of families will ultimately be responsible for the massive debt that will be undertaken for years to come then there must be accountability and something to show for this sacrifice.

Tuesday, September 23, 2008 by Chris

If the government can bailout financial and insurance institutions at a cost of nearly 1 trillion dollars to tax payers why is the government unable to ensure that social security, medicare and medicade continues to remain funded and financially viable. It is time for people to stand up and hold our elected leaders accountable. If taxpayers, generations of families will ultimately be responsible for the massive debt that will be undertaken for years to come then there must be accountability and something to show for this sacrifice.

Tuesday, September 23, 2008 by Chris

Just say no.
This bailout is wrong on so many fronts. It will only prolong the agony. The Bush administration is trying to cram this finat reward to his buddies down our throats before he rides off into the sunset. These bankers are responsible for this. The train wreck we are seeing was visible years ago. Noone got layed off, downsized or outsourced in the banking industry during all that time. now their balance sheets are in a bind after they all got major bonuses over the last eight years. I say throw them all in jail. and let Obama ecide where to spend 700 billion dollars.

Tuesday, September 23, 2008 by Brendan Casey

To anser your question: I certainly am mad as heck. Pres Bush's financial advisers just figured out that we are in crisis and so, he claimed, he was taking 'bold action.' It can hardly be 'bold' when it is over 3 years late. Every financial program I listen to has been warning of this for more than 3 years, and Sen OBama called for a special investigation into this problem years ago. Where was John McCain then? It would be crazy to listen to the same 'experts' who just noticed that there is a problem. Before congress decides what to do, it needs to hear input from the top financial minds in the country, from every university they can find instead of from people who make money off the corrupt system. I think Congress needs to reject the idea that we should tax americans to save foreign businesses; I understand the 'global economy' argument, but we will have trouble enough saving our own. I think the CEOs and such should be cut loose (and some of them jailed) without their golden parachutes -- how offensive that they can run their company and our country into ruin and then get a $75 million bonus for doing so!

And how dare the McCain campaign say we 'can't afford' a $trillion to take care of our own people, when it looks like years of republican greed will cost us the money we should have been able to use for domestic problems.

Yup, I am mad.

Tuesday, September 23, 2008 by geep

This reminds me of an old movie I saw; I think it was called "Rollover" with Jane Fonda and Kurt Russell (maybe).

Tuesday, September 23, 2008 by Laura

I love the comment from the caller who said his view of economics had a lot to do with the fact that he goes to work and pays his bills. It is incomprehensible to us, working people, to hear about these bail outs. Why didn't anyone offer to give every mortgage holder, person who is in foreclosure, a break, so they could meet their bills and keep the economy rolling. Why not fund national health care? Why do bailouts help people who don't seem responsible, or to care about the public get to profit from their irresponsibility, but if I drive my car around with no insurance I can get arrested and fined, if I miss a credit card payment I get switched to ursury interest rates, if I miss a house payment I can get fined and then eventually get placed in foreclosure? I just don't understand why the rules of common sense, honesty, and decency don't apply to "Wall Street" and why working people have to pay their price. I don't even know how to resist this.

Tuesday, September 23, 2008 by Lisa

Here are some websites that talk about trillion's of dollars owed to the us treasury,from a trust fund created,by Ronald Reagan adminitration.(just copy,and paste into your browser)
Believe it,or not,makes for interesting reading,none the less.

http://portland.indymedia.org/en/2006/07/342899.shtml

http://www.proliberty.com/observer/20070119.htm

http://ees.net.nz/info/leo-wanta.htm

http://www.rense.com/general70/leo.htm

http://www.guerrillanews.com/threads/17742/Leo_Wanta?page=1

http://thechiefbrief.blogspot.com/2006/12/leo-wanta-update-who-is-michael-c.html

http://www.rumormillnews.com/cgi-bin/archive.cgi?read=97740

http://thechiefbrief.blogspot.com/2006/12/strange-saga-of-leo-wanta.html

Saturday, September 27, 2008 by sal

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Thursday, August 26, 2010 by MattieSpears

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