Page 7 - Back Stop News Today

Medicare cost by strengthening the independent commission of doctors, nurses, medical expert and consumers. >> last week, president obama sought to bolster ipab authority asking congress to rewrite the law so the trigger for the panel recommendation to kick in would be cost growth of only half a percentage point. >> the ipab is a back stop. its something that will be used if the other initiatives like quality initiatives and better drug control, cost control dont work. i think this is a way of p...

Months into the unemployment, thats when you have to go into crisis mode. you dont wait till the very last dollar to do that. >> what can he do now? >> hes going to having to probably downsize, cut expenses to the bone, get any kind of a job, and the problem is had he done this a year ago, he mute have been able to do it with $100,000 in the bank. humans do this, they wait till its a crisis and then they act. three or six months in, act as if you have that money as a back stop. you can do these ...

Bigger issue is what should have happened was three or six months into the unemployment thats when you have to go into crisis mode. you dont wait until the very last dollar to do that. >> what can he do now? anything? >> the problem is he is going to have to down size if he owns a house, cut expenses to the bone, get any kind of a job, and the problem is had he done this a year ago he might be able to do it with a hundred thousand dollars in the bank. now youre doing it, and humans do this. they...

Banks start doing what they do which is work with these people to bring back the tax credit. i think it helps everybody. im a foreclosure guy. thank goodness i did because i havent seen my home price go up in the last 3 1/2 years. megyn: some are pushing for the federal government to offer more in the way of guarantees so banks will feel more comfortable learning because they have a back stop. they removed the risk for them. the feds are saying if she defaults ill take care of it. >> i would say...

Remediation effort at that depth. how do you know any of this might work? >> well, you know, john, what we had was since the beginning, we wanted -- the goals were clear, stop the flow and minimize the impact and keep people informed. what weve been doing is pushing parallel paths because we dont know which one is going to work. on the stop the flow options, we still have several available to us. and that includes this, what we call the junk shot, also the same as top kill. pump the material in ...

>> and thats the problem, they bet against us. theyre supposed to be the engine that helps power the economy and they ended up becoming an engine unto themselves for themselves. thats really the problem. >> another thing is, a lot of these guys, it was said the other day very well -- they come from a really high gene pool. smart people. they could have been winning nobel prizes in physics, and what do they do with that incredible i.q.? this. >> look, they are villains and thats not new. thats hi...

Billion a year because they bet against us. >> and thats the problem, they bet against us. theyre supposed to be the engine that helps power the economy and they ended up becoming an engine unto themselves. >> and they come from a really hygieigh gene pool. and what do they do with that incredible iq? this. >> look, they are villains and thats not new. thats historic. but people remember what happened last year. they associated this very bad period with bailouts by both parties. thats why one pa...

>> another thing is, a lot of these guys, it was said the other day very well -- they come from a really high gene pool. smart people. what do they do with that incredible i.q.? this. >> look, they are villains and thats not new. thats historic. but people remember what happened last year. they associated this very bad period with bailouts by both parties. thats why one party has gone against them. one party is standing up for them. >> lets be proactive. is what the president doing now, what chr...

>> i think they do. you still have not solved the problem. if you have a crisis and all of a sudden you have counterparty risk, which is that if you -- >> paul: creditors of a big institution. >> it ripples through the system. the test here is there a back stop and one of the things in the bill is it creates a fund. >> the $50 billion -- this is just like deposit insurance where you tax the banks, they pay a fee and thats money so it wont have to go taxpayer. >> what you want in a new system is ...

>> i think they do. you still have not solved the problem. if you have a crisis and all of a sudden you have counterparty risk, which is that if you -- >> paul: creditors of a big institution. >> it ripples through the system. the test here is there a back stop and one of the things in the bill is it creates a fund. >> the $50 billion -- this is just like deposit insurance where you tax the banks, they pay a fee and thats money so it wont have to go taxpayer. >> what you want in a new system is ...