about this blog
- Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.
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Playin Possum
N-U-K-E W-A_L_L S_T_R_E_E_T.
Kevin Kunzmann
This was not greed. It was theft. People are angry because these Wall Street criminals did the equivalent of robbing a bank.
Sam Finsesitter
Why is no one pointing the finger at the real Villains Here The Congress and Senate they knew 2 years ago this was going to happen and sit back and did nothing ! I am going to be voting against that is office now !
tom speakman
wall street is greedy and dishonest why would anyone want to deal with this type of person. no one should put there money back into wall street
Dee Adams
Our Bank is working night and day on a 24/7 basis to chew the crap sandwich it has been handed and do our magic to make this profitable. We, like Santis at AIG, are working without bonuses (which is the same as overtime for an hourly workers) and without a net - our jobs may be gone tomorrow if the Bank can find some way to do it cheaper; so we may be working ourselves out of the very job we would like to save. Why? Without a banking system there is no America - period. If our brave soldiers can travel to a foreign land and leave their families to fight for me and my children; I can stand and try to keep his/her beloved country safe a home. It would be nice if the Commander in Chief figured that out and had our back instead of making this a class war to finance his reelection and the joke of his sad sense of humor.
kirpal
I agree there are many good guys in the wall street. But they should take the blame too now in this situation (sorry for being blunt). People like him should have atleast questioned or stopped all the unethical lending practices these banks and other institutions followed in the past. THey should have raised a red flag and went to the press or SEC or wherever their voices can be heard effectively. He (other good guys) was part of the system too and must take the blame. Where was their 'goodness' when his greedy friends were trying to come up with CDO/CDSs etc. I am not a main street guy and i managed my mortgage well and didn't stretch beyond my limits when i bought my home. But look at my few neighbours who did otherwise and faced foreclosure and bought down the home values down and my home is worth far less than i bought for. At least your friend has someone like you to as moral support. WHo is supporting me? not even the government stimulus plan (as i can not qualify based on the current criteria!!).
Steve
The greedy, evil fat cats work in Washington, not New York.
Steve
I am an Engineer for a tier 1 company (not an OEM) in the auto industry. I am not a union member, have no pension, work 10 hrs for the pay of 8, pay most of my health care, live in a 1400 sq ft home, taken pay cuts but yet I am classified as a "GREEDY" autoworker by the rest of the country and wall street. They say my job needs to be eliminated and shipped to a 3rd world country because I cost too much and am a burden on our country. The general comment is "too bad" you, your family and community need to be sacrificed; but teach someone else your job before we eliminate you. It doesn't matter how long or hard you have worked we need to change the rules on you now. My reason for mentioning this is that now the wealthy now how it feels to be classified as all being the same. I choose my way of life and I do not begrudge anyone working hard and making a lot of money, and I believe they are entitled to it (to a reasonable degree); that is what makes this country great. However it seems that we have come to a point where some of these individuals lack total self control to do what is right. There never seems to be enough money to satisfy them and they continue want more with no conscience or remorse because the technicalities of the law says they can. My opinion is that this lack of self control and the influence these types of people have created this crossroads in our country. It is creating a segregation of the people and what is happening today is the only recourse the common person feels they can do to fight back. My specific anger is "I just want to do an honest day of work and have a steady job to be able to provide for my family". But in essence some of them will not allow me that luxury since they continuously tweaking the rules in their favor because they have the ability to because they want more. Lets all stop pointing fingers, look within ourselves to do what is right (do unto others as you would have them do unto you) and help each other as a country not just an individual. Until that happens I fear the outcome.
Joseph
I think too many people are taking advantage of the bailout actions and news by complaining too much about their 401Ks. Remember they are not FDIC insured? No bank guarantee? May lose value? Unless you had enough assets to invest with Madoff which most american are not included, you were suppossed to manage your finances prudently by not putting all your eggs in one basket. That is why we have bank cds and saving accounts and other investments such as venture capital or start up companies. Diversify! If you lost money and it was a large chunk then you should have plenty of time to make it back if you don't have enough time then you werenm't following the common advice and disciplines os saving and investing the right way. Maybe you started too late or spent when you should have been saving at some point ot two throughout your life. So take responsibility for your own life and finances and you will feel much better. Let's not blame the folks on wall street, part of our new generation of workers that are trying to realize their goals and for the most part played by the rules. That is capitalism, don't envy those that aspire to be more successful than that of their mothers and fathers.
colorblindwhitey
Well Done! I couldn't agree more. When will we start seeing reports on people who collect welfare, food stamps, disability, etc. only to sit at home in front of a 6 foot plasma t.v. picking out their new Cadilac Escalade? I'm just wondering, because I've seen it.
chuck
CC those that are being lumped in with the real greedies of Wall Street shouldn't be. It's plain stupid stereotyping by those who don't know Wall and Broad up close. Frankly I don't like the fact the AIG execs who got bonueses had thier lives threaten. I like to see the torches and pitchforks directed at the left wingers in Congress and see how they like it. Eh?
Tom H.
CC, People aren't angry at Wall Street....just the main street press and the ACORN lackeys. They want it seem like people are furious at Wall Street....in reality people are upset at the loss of their money and the incompetence and corruption in Washington. They are frustrated and have no place to turn. Who organized the protests to AIG houses ACORN....who organized the tea parties (not covered by mainstream media, but 10s of times larger)...the average person...and they are mad at the government NOT Wall Street. The only thing that gets people about Wall Street is their apparent glee (500 point rise) over the bills or policies passing the bill to the tax payer.
Chris James
Your Time Would Be Better And Appreciated If You Would Help Bring To Light The People Who Are Responsible For The Near Collape Of Our Financial System While Running Away With Bags Of Cash.....Cause Were Mad As Hell!
Don Kamp
I am just appalled at the pitchfork hysteria that has gripped this country. And to see our president and legislators encouraging this is beyond disgusting (Obama characterized swap dealers as suicide bombers with their fingers on the trigger). I also want to point out that all this finger pointing by our elected officials and shoving the blame off on others is a baseless presumption of guilt. There is something that has gone horribly wrong here and I think out leaders need to take a good look in the mirror. They need to collectively just all shut up and get their house in order.
chuck
CC why not add some members of congreess to that greedy list. They're just as deserving as wall streeter.
Dan
So this prince got him a trophy wife, an over the top wedding in Florida, and a “modest” apartment in the city, and that is normal. No, not by a long shot, that is greed, and that is why we do not trust bankers, and street any more, they have stolen what we have worked for, destroyed our 401k’s so they can have more and more, and to he!! with the common people. Yea, I am bitter!
Joseph
It is my opinion that just because you live in a modest apartment and are getting a dog that you shouldn't automatically classified as one good ones! The implication is that if you live in a penthouse somewhere that your likely to be one of the greedy ones. The wealthiest ones at some point had to work very hard to distinguish themselves with core disciplines and education to become worth what they were paid. Often you will find that in general, there are some of the hardest working, highest talented, smartest, goodest people in this group. Thats why they are on top. People we should emulate more of in a capitalist society, where you are trying to get ahead.
jdc
Thanks Cheryl.Its time the demonizing of our financial institutions stop. Sure there a few "bad guys" out there but the majority of folks in the business are hard working, honestly trying to do the best for thier clients. Those same folks got no credit when things were booming and our clients were wallowing in the money our work made for them but when things went south because of the federal governments screw up, the pitchforks come out.
Texar
There is a HUGE difference in (1) run of the mill evil people and (2) EVIL/ greedy/ incompetent people who are making decisions on BILLIONS and TRILLIONS. You put enough zeros behind these bad decisions, and we will destroy the lives of MILLIONS of people. That's why people are so mad, as they should be. Like Alan Keyes says... "it's as if our govt has been taken over by insane children", and "a bankrupt country can't bail out a bankrupt banking system".
Dave Weber
Why do we hear those things? Because we currently have an administration that is anti-captialism. They use the same tactics that the anti-smoking crowd and the environmentalists use (this group is both of those crowds too by the way), shame. What is the first thing you think of when someone says, "he's a smoker." Or what is the first thing you think of when someone says "he drives an SUV." Or recently, what is the first image that comes to mind when you hear "Wall Street" or "CEO" or "Executive." A negative one. This administration and many in the media support the drive twoards socialism. Their main tactic is to demonize anything or anyone that stands in their way. Negate their worth and make the only choice so as not to be lumped in with them, the administration's model. Cheryl you play into what they are doing too. You have to qualify your call for toning down the rhetoric by saying "my friends are just average Joe's--They're not those fat cats!" There is evil afoot and we had better be very mindful to stand for what is right.
6ftrabbit
I share your feelings, Cheryl. It seems the last few months have brought the wackos out in force; be they anti-bank or anti-anything and everything else. They think only of themselves, and their rather odd ideas of what's good and right for the planet or the country strikes me as more than a little ludicrous were they not so dangerous. Speaking of; did you see the latest from the enviro-nuts? ( from: http://www.timesonline.co.uk/tol/news/politics/article5950442.ece ) " JONATHON PORRITT, one of Gordon Brown’s leading green advisers, is to warn that Britain must drastically reduce its population if it is to build a sustainable society. Porritt’s call will come at this week’s annual conference of the Optimum Population Trust (OPT), of which he is patron. The trust will release research suggesting UK population must be cut to 30m if the country wants to feed itself sustainably. " Of course no thought is given (by Porritt & associates ) to the economic and social impact such a reduction would have.
Susan Easterday
CC, Amen! There are lots of great folks in this industry and there are lots of "greedy, bad" people in other industries. And "bad people" are not limited to high income--but run the gamut of income levels. Let's keep this in perspective.