Tuesday, January 5, 2010, 10:04PM ET - U.S. Markets Closed.
Campbell Soup Co. was the only stock in the S&P 500 that escaped yesterday's historic sell-off. That’s right: 499 fell, and just one rose.
Could there be a clearer metaphor for Americans refocusing on the basics after a decade of greed and excess?
That may be a stretch, but clearly the American public is in no mood to bail out the Wall Street gazillionaires responsible for the financial meltdown. So says my guest, Wall Street Journal Deputy Managing Editor Alan Murray, who describes the extreme wealth on display in his hometown of Greenwich, Conn., in the accompanying video. No matter how appropriate this backlash may be, it will have ramifications in American business possibly for decades to come, says Murray.
I have lost$34,000 on the stock I invested in, this is of my own money--I should have sold when it was high but I did not (MY FAULT) who is going to bail me out NOBODY--them rich bankers was just using the poorer people to take their money and then get more money from people and it back fired---they all should be executed for treason against America--and for anybody to even think about giving them CEOs and anybody else a golden parachute escape has got to be plain out stupid--they did not manage their business properly and filed bank ruptsy--there fore they should have to honer their contracts with their workers and be left with their house car clothes and furniture--just like anybody else that files banck ruptsy--usualy when a person does a bad job they do not get a raise , or a bonus they get FIRED--it is high time the US government QUITS catering to the rich
I’m all for this plan – we’d buy our dream home! – That would help the economy! This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy!! Hi Pals, I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billion that equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend. Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage - housing crisis solved. Repay college loans - what a great boost to new grads Put away money for college - it'll be there Save in a bank - create money to loan to entrepreneurs. Buy a new car - create jobs Invest in the market - capital drives growth Pay for your parent's medical insurance - health care improves Enable Deadbeat Dads to come clean - or else (Not to mention what we’d save in Welfare / Medical / etc, because the leaches would no longer qualify) Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces. If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+! As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can 'never work.' But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. Ahhh...I feel so much better getting that off my chest. Kindest personal regards, Birk T. J. Birkenmeier, A Creative Guy & Citizen of the Republic PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!
I’m all for this plan – we’d buy our dream home! – That would help the economy! This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy!! Hi Pals, I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billion that equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend. Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage - housing crisis solved. Repay college loans - what a great boost to new grads Put away money for college - it'll be there Save in a bank - create money to loan to entrepreneurs. Buy a new car - create jobs Invest in the market - capital drives growth Pay for your parent's medical insurance - health care improves Enable Deadbeat Dads to come clean - or else (Not to mention what we’d save in Welfare / Medical / etc, because the leaches would no longer qualify) Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces. If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+! As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can 'never work.' But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. Ahhh...I feel so much better getting that off my chest. Kindest personal regards, Birk T. J. Birkenmeier, A Creative Guy & Citizen of the Republic PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!
This guy still does not get it. Here we are looking at a trillion dollar bill to bail out Wall Street and he is worried that it may usher in an age of TOO MUCH Government intervention!? The reason that we are in this mess is because the neo-cons gave us virtually no government intervention and oversight and the credit markets collapsed as a result. It just goes to show that for some people, reality is no match for Republican talking points.
Regardles of whether you like the current plan or not, action needs to be taken because the market is INCAPABLE of correcting itself without more pain than the populace can handle. It's not about free markets and bailouts. It's about adjusting to conditions - regardless of how we got there - and acting to insure STABILITY (not necessarily PROPSPERITY - the ups and downs of which are a measure of a free market). Here's the reason we are where we are today: Paulson/Bernanke: Worst sales job in the history of sales jobs. And, the casket closed tight on this corpse of a plan the minute Dubya went on the idiot-box to pitch it. What's next: Frank Purdue elling PETA memberships? B-Frank and Grand Master Pelosi aren't helping themselves either. SHUT UP!! Can we please get TERM LIMITS on these nimrods?? If this doesn't scream for it I don't know how to make a better case.
one middle finger protruding out towards wall street...hurry up and crash already, POS. and the bankers with em. this is a BS rally, i am really getting hostil towards this whole wall street game; f'in sick of it.
Is everyone crazy? This has nothing to do with saving wall street. And remember where the crisis came from? It came from people not paying their mortgages. So wall street and the banks screwed up by loaning too much money to people who had no business borrowing it. It's your greedy speculators who have done the most damage. But of course we should make sure that people who could not afford to buy a house in the first place stay there at taxpayer expense. Come on!
the way things are it must be SPLIT-pea soup
wrong calculation right? shouldnt it be around 400?
I am reminded of an incident wherein the local school board was in tatters. I advocated publicly, we can't tell whose to blame for this mess so the best solution is to throw all the bums out of office
Amtrak train when UP!!! too . I cant visit my sister in Was!
Funny how you watch TV and read the papers and you think you're the only one who understands what's going on, and then you read the comments on this page and realize that TV and the papers are pretending they don't see the huge flood of comments from real people who know THIS IS A SCAM. The new war on terror is pointed right at the Fed. Paulson is a terrorist! Bush is a terrorist. McCain's an idiot and Obama isn't doing so well either supporting this stupid plan. If you want the market to survive, opt in and help out, donate your money to the Fed. But to make everyone opt in without the ability to opt out, that's UNCONSTIUTIONAL, period. Article IV Section 4: The people are guaranteed a "Republican form of Government" This doesn't mean Newt must be out leader, it means the will of the poeple and the rights of the people cannot be ignored NO MATTER WHAT. If the market must fail to preserve our rights, it MUST FAIL. Life WILL go on. It won't be Mad Max. It's all a terror plot so you will give up your rights.
After the executives and board members who are responsible for this mess are prosecuted for their corporate malfeasance then we can start discussing passing out money to help these corporations with people who wiped out their investor's savings.
Silver Surfer here... I guess you want to hear from me again.. I heard a faint call from Space. OK ... Here we go again.. Stop the Bail Out email your Senators and Congressman. Those that voted No are true Americans. Stop Socialism before our flag is pink. Keep the Red White and Blue in it. It means something. It is called Freedom, men and women who die for it everyday, Freedom and Free markets, Free Enterprise and Fainess to Compete. Let American Capitalism work. Christ said : The debtor will be enslaved to the Lender. We have to break this bond over us all. Tax Haven Bush could care less about us or he would pay his fair share of taxes. He would not circumvent the system through loopholes. The tax laws need to be scraped and Big Corporation especially the large Global International Corps need to pay their fair tax.Trillions of their income is escaping taxation, enough to easily pay for this Bail Out. Dump it on them if we must have a bail out. A Republican Administration can not be trusted to implement this kind of change. Vote Nader in... The no 1 priority of our Vision is to Supply Jobs for every American and to keep Gas prices and Interest Rates low or things could get much worse. The Bail Out will do just the opposite. Imagine gas prices at $7-$10 a gallon and interest rates on mortgages at 11-14% this is not too unlikely too happen should this bill pass. Does this look like it will help the mess we are in. No the Fed should have lowered the discount rate today if they were really worried about the markets. But the market might have gone up 12% intstead of 4-5% as it has done. I guess things are not that bad. Remember those that voted down the Bill should be voted for this November. They are true heros for the Victory Yesterday and going forward.
Put all those Washington IDIOTS in a barrel , roll them down a hill and there would be a CROOK on top all the time .
just like the Roaring Twenties (1920-29 crash)....have the years of 2000-2008 been until this new crash.......
I'm sick of this. Toss the worthless idiots out. We don't need a bail-out... we need fiscal responsibility. Telling Fannie and Freddie to back loans to people that cannot afford them caused this problem. Idiots who signed mortgages they could not afford, the banks that put those mortgages in front of them, the firms that bought those bad mortgages, the Fannie/Freddies that backed them, the investors that leveraged large on them... they all need to FAIL. I run a small biz. I pay my bills, I struggle to pay my taxes and I have to pay for their stupidity?!?! NO WAY. VOTE THEM OUT
Campbell soup? OMG, do you know the price of a small can of Campbell soup? It's no wonder that it's stock did well with reported earnings. I bought a small can of Cream of Mushroom soup from a very inexpensive Grocery chain and it was almost $2.00 for the can. Sorry, but I remember when Campbell soup was 75 cents. Talk about price gouging.
Hey, my comment disappeared. Maybe because it was the same as elsewhere... We don't need a bail-out... we need fiscal responsibility. The idiots who signed mortgages they could not afford, the banks that put those mortgages in front of them, the firms that bought those bad mortgages, the Fannie/Freddies that backed them, the investors that leveraged large on them... they all need to FAIL. I run a small biz. I pay my bills, I struggle to pay my taxes and I have to pay for their stupidity?!?! NO WAY.
Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes for NASDAQ, NYSE and Amex. See also delay times for other exchanges. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. Fundamental company data provided by Capital IQ. Financials data provided by Edgar Online. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and Morningstar Index data provided by Morningstar, Inc. Analyst estimates data provided by Thomson Financial Network. All data provided by Thomson Financial Network is based solely upon research information provided by third party analysts. Yahoo! has not reviewed, and in no way endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.
Ray - Tuesday September 30, 2008 02:28PM EDT
How sensitive of yall to think that the megarich can make the culinary transition to Campbell Soup. You cannot make such an assumption for well trained pallets.