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Detailed text transcripts for TV channel - MSNBC - 20130430:04:12:00

They say austerity. this has gotten conflated with the republicans party position. you should reduce the deficit but not by cutting defense and absolutely not in any way by raising taxes. if it requires raising taxes even a dollar, then better not to reduce the deficit at all. better possibly even to default on the debt which brings all the terrible consequences of a debt crisis all at once artificially. something they don t typically believe that further government action to help out the economy probably isn t merited. if you think of these academics who have become associated with austerity, they ve argued for principal write-downs where the government would make mortgages cheaper for people, for higher inflation. the republican party wants none of that. i think what the republican party is actually advocating is quite a bit less coherent even ....

Whole New Way , Virginia Republicans , Party Position , Syrian Government , Debt Crisis , Isnt Merited , Write Downs , Republican Party ,

Detailed text transcripts for TV channel - MSNBC - 20120212:13:38:00

Especially on the 2000 foreclosure. but the way this thing is set up, it has built-in leverage. that $20 billion you mentioned, it is up to $40 billion. i m not saying that let me one final point. i used to be a member of if housing team back there in the white house days. one other point. here s what s key about this thing. this is the first housing policy to come across the policy transom from the perspective of the banks and lenders. they have to do the write-downs. the reason why so many of these programs have been underwhelm sing because they have been voluntary from the perspective. let me just say one thing in response to that and bring in attorney general bo biden who is part of this. enforcement mechanism, when we tell them they have to do things, it is unclear they will do them unless there is a strong enforcement act. the servicers have ignored all sorts of legal injunctions ....

0 Billion , 20 Billion , 40 Billion , Housing Policy , White House , Housing Team , Policy Transom , Write Downs , Bo Biden , Enforcement Mechanism , Enforcement Act ,

Detailed text transcripts for TV channel - MSNBC - 20111210:12:31:00

The 99% and the 1%. foreclosures for some reason the banks are very powerful. it cannot seem to gain tracks. i talk about it on the show. i ve talked about it when i have hosted other shows. it just seems to fall into the well. even though every commit you talk to says, household balance sheets are the key to recovery. we need to get household balance sheets. we have all this overhang of debt. we need principal write downs. it has completely disappeared from the system. it doesn t make sense to anybody. i am listening to you and it doesn t make sense. that s why they pay me the big bucks. folks target what they can see. they can see b of a. they can see wells. they target that. when you are seeing the conversations in washington, you almost have fannie and freddie saying, foreclose as quickly as possible. you have to get upstream and say, cloe down. you guys work for us. you also have politics on the side of that. you have that huge marriage of ....

Household Balance Sheets , Write Downs , Bashing Washington , It Doesnt Make Sense , Big Bucks , Office Politics , United States , Cloe Down , Fannie Mae ,

Detailed text transcripts for TV channel - MSNBC - 20111104:17:41:00

Of money the eu or international monetary fund is willing to give them? do we know? concern has always been not so much if greece failed. there is what most people suggest is enough money kind of within the european firewall, their own t.a.r.p., the bailout funds they ve put together, to bail out greece. the question is, of course, whether or not a greek failure would spill over to larger economies like italy and spain. that s the real question. is there enough money for those countries? one of the big debates around greece s failure is whether or not private investors in its debt, that is mostly european banks, would have to take huge write-downs and haircuts on the values of their greek debt. they ve been negotiating furiously not to do that. people don t know what would happen if suddenly european banks announced they had less capital on their books than before. so i think it s really, it s less about greece, itself, and more about the spillover effects to larger economies and the ....

People Don T , Write Downs , Telis Demos , Banking System , Spillover Effects ,

Detailed text transcripts for TV channel - MSNBC - 20111025:09:33:00

It s no excuse for all the games and the gridlock that we ve been seeing in washington. some poking holes in the president s plan to rescue homeowners. the new york times critiquing this morning, an editorial, the new refinancing plan is still only a modest fix. real recovery in the housing market and the economy will require reducing the principal balance on many underwater loans, but banks balked at reducing principal because they don t want to face the losses. for too long president obama relied on the banks to do what s right. strong political pressure and likely legislation may be the only ways to get the banks to accept write-downs of principal. mr. obama needs to start pushing now. last week one of the men hoping to replace president obama, mitt romney, offered his take on solving the housing crisis. don t try to stop the foreclosure process, let it run its course and hit the bottom, allow investors to buy homes, put renters in them, fix the homes up and let it come back ....

President Obama , Housing Market , Spoking Holes , Refinancing Plan , New York Times , Big Swiss Banks , Mitt Romney , Write Downs , Foreclosure Process , Don T , Housing Crisis ,