Page 2 - Credit Problem News Today

There -- >> bernanke is out there saying were going to keep rates low a long time. as soon as people figure out we have a credit problem, rates goes higher and interest is higher. >> talked to aol about americas place in the world. it does factor in in terms of what america is actually capable of doing and around the prospect of meaningful debt reduction, which i dont really see happening this year. >> youre right. >> here is steve case. >> its not helpful to the economy. its not helpful in term...

obama has just summoned congressional democrats to aarr white house. to be clear, democrats only. were also hearing the top two house republicans, john boehner and eric cantor are to meet with mr. obama at 5:00 p.m. eastern time. so clearly a busy afternoon shaping up at the white house. tell you what, i want to take you now straight to senator coburn who is live for me. sir, good to have you on the program. let me just begin with this. we mentioned these meetings at the white house. m...

Percentage of these sales that are foreclosures? >> at this point those numbers arent necessarily factoring into the pend home sales numbers. we do know on closings, foreclosures are making up 28% of all existing home sales. and it is a lot higher in some states when you look at california and florida, up in the 50% range. thats what the market is right now. you got investors in there. one third of the market is all cash. there you have that credit problem, a lot of folks cannot get the mortgage...

Thats one extension of the bush doctrine. he establishes preventive war, which is aggression. so, no matter how noble it may sound to promote aggression, but now in libya, were promoting this preventative war to prevent humanitarian problems. at the same time, they have never even been proven, let alone legitimate. so i would say, yes, its horrible. all these things are horrible around the world, but i dont think us getting involved and using violence and bombing and killing innocent people. you...

Will we have a real credit problem weveç never had befor if it goes down, the debt ceiling? >> well, you know, theres a similar argument when they wanted to do the bailout in 08 saying there would be a depression if we didnt do it. all they did was prevent the depression for wall street and gave the depression to the poor people. so now theyre saying once again, another fear. no matter what happens, use fear after 9/11 and, you know, osama bin laden -- saddam hussein, we had to scare the peopl...

Should risk, not passing a debt ceiling? will that shatter the fiscal markets around the world? will we have a real credit problem weve never had before if it goes down, the debt ceiling? >> well, you know, they used a similar argument when they wanted to do the bailout in 08 saying there would be a depression if we didnt do it. all they did was prevent the depression for wall street and gave the depression to the poor people. so now theyre saying once again, another fear. no matter what happens...

This money to help them out. so now the european union, remember they now share currency with 15 other countries, they said theyll help them out but they have to take into account measures and this means that theyre going to see severe pay cuts for some people there. also seeing that their taxes are going to go up. and the retirement age for some women is also going to go up. so all of this coming out. remember, when there was a regime change in greece, this was when they found out the debt issu...