FOX Business On Assignment
  • October 7, 2008 10:27 AM EDT by FOXBusiness.com

    Weigh In: Who Should Get the Boot?

    As banks falter and markets melt around the world, government officials are scrambling to stop the bleeding. Treasury Secretary Henry Paulson worked feverishly to get his $700 billion rescue bill passed and Fed Chairman Ben Bernanke gives his economic outlook later today.

    We want to know if you would replace either official—and if you would, who would you want to take his place?

We, The People, need to take our counrty back from the financial elete. The entire US House and Senate needs to be replaced, and not with anyone who's been there before. Start fresh! All cabinet level and probably a majority of upper-level government workers not in tune with American's wishes also need to be dismissed. The electorial college process needs a serious look, as it has been compromissed from it's original intent. When will The People open their eyes to whats going on with our great Nation? Russia is about to awaken aagain; will we be ready?

October 7, 2008 at 11:23 am

Dave in FL

Barney Frank and Chris Dodd are the main culprits that remain in the same oversight position. Dodd was taking sweet deals in return for keeping the regulators away from Fannie and Freddie. As for Frank, he clearly had a conflict of interest with his personal relationship and again kept the regulators away. McCain has some credit for at least raising the issue but I have to say that if it was thought to be as serious then as it has become, much more noise should have been made to make the public aware and force the loons into some action.

October 7, 2008 at 11:21 am

Crooked Folks

Jim...great point....! One ting though...90% of the media and press are left wing...Fair and unbiased..I think not!

October 7, 2008 at 11:21 am

Anamerican

You wanted Democrates.... you got .... "Entitlements and now hand-outs to CEOs" How about when the new taxes get added?.... Time to call the M P 's Americans First!

October 7, 2008 at 11:20 am

Well, the people who wanted a "Chicken in every pot" got their way. However, the chicken they used had the bird flu. To every politician reading this...please remember that when something looks too good to be true then it is too good to be true. I pray that our government finds some honest and smart politicians. I am tired of the gobbling turkys. "Thanksgiving... anyone?"

October 7, 2008 at 11:20 am

There is enough blame to go around both in the government (not just one adminstration), corporations, and the individual. When people think they can run households, business, and government, they are fools and are the ones to blame. I am debt free, by the way.

October 7, 2008 at 11:20 am

Barney Frank and Christopher Dodd should be removed from their chairmanships and thrown out of office. Fox should educate its viewers as to the names and roles of everyone who contributed to this debacle.

October 7, 2008 at 11:20 am

Do not vote for any incumbent!! Get them all out with this election and the next! We need to send Pelosi and Reid home, with 17% approval rate they say they are doing what the people want but apparently on 17% of us!! Send Obama back home and elect McCain, he has always worked for us, in spite of what other Republicans said or how much pressure they put on him. We are going into an awful mess for the next few years, he is the only one that can helpus get through this.!!

October 7, 2008 at 11:19 am

Crooked Folks

FRED...you are an idiot..You and your self serving democrats started this Social housing epxeriment in 77 and Good old Billy made it worse...and your Democratiic congress said everything was ok...DO YOUR HOME WORK YOU MORON...as is said...the only thing I fault Bush for is not have the chones to say enough was enough...You live in a freemarket space..You want socialism...move to Norway, Sweden or Finalnd and get taxed at 55%

October 7, 2008 at 11:19 am

Yes I would replace them along with anybody else that was ever in support of the $700 Billion bailout. That would include not electing both Obama and McCain for president.

October 7, 2008 at 11:18 am

G. Bea bout

Review the voting records of the house and senate. Vote no for anyone who blocked regulation. Not to say whomever replaces them will be anymore effective but, one should pay a price for not following their constuents(sp?) wishes. Afterall we do live in a Republic don't we?

October 7, 2008 at 11:17 am

Treasury Secretary Henry Paulson should be shown to the door. He should have been PROactive rather than REactive. WE saw this coming for two years; why didn't HE?

October 7, 2008 at 11:17 am

Crooked Folks

James..I am have been saying all along..This isn't about Wall Street, although many would have you believe that...This really is about credit because of bad debt. At least that debt is secured, rather than unsecured....It will take a week or two to get to get that $700B where it needs to go...That's why the Fed Reserve got brought in from a short term perspectve to bring liquidity to the credit markets..There was no cash becasue of all the bad loans...there was noting in the cookie jar, so to speak

October 7, 2008 at 11:14 am

I can't believe there are still people responding to this question who are simple minded enough to try and blame the current problem entirely on the current administration! Who will they blame when things don't improve? The real problem lack of moral fiber. The only way to correct this is remove all elected and appointed officials from the mix. Replace them with true middle class citizens who understand life isn't fair and you must work and save to move ahead! You are only entitled to the opportunity to advance.

October 7, 2008 at 11:14 am

Milo Stumbo

You still don't get it!!! It was the Clinton Administration and the Dems in congress that mandated banks make risky mortgage loans to minorities to buy votes. It was greed and sheer criminality at freddie mac and many others that recognized a money grab without reprisal. Don't blame the cop who failed to apprehend the speeding driver (in an suv, of coarse) that hit and killed a young child. For once in your life nail the guy that done the deed! No wonder the public and the market has NO faith in pork barrel bailouts. However, having said that I wouldn't trust either one of those jokers (Paulson or Bernanke). They both look like a couple of crooks. GET Jack Kemp and Newt Gingrich in there they could actually FIX the problem. But we couldn't have that now could we. Dennis Stumbo Mpls, MN

October 7, 2008 at 11:13 am

House cleaning should begin with Barney Frank, Chuck Shumer and Chris Dodd. It should continue from there with Nancy Pelosi and Harry Reid. The real conundrum is, now that the 'bailout' bill has given such huge executive authority to the Secretary of the Treasury, what if Obama were to win the election and appoint Franklin Raines as Secretary of the Treasury!!!!! Given Obama's talk of "Economic Justice", can there be any greater example of foxes in chicken coops?? God help us.

October 7, 2008 at 11:12 am

I agree with all of the above comments, and would also add "Where was the press?" The founding fathers created a free press in part to keep the government in check and to keep the public informed. I guess our wonderful news sources were more concerned with the O.J., Anna Nicole, and the Britney train wrecks, than to do the hard-nosed reporting that we desperately need.

October 7, 2008 at 11:11 am

Crooked Folks

Actually..This goes back to the peanut farmer and then perpetuated by slick willie.. Send both of them to a deserted island.. Then grow an extra set of chones for George Bush for not putting his foot down when he had a sense that something was not right based on what his cabinet was telling him. Then draw quarter Barney Fife..I mean Frank for the most unscrupulus thing a Senator can do to betray the trust, not only of his 4th district in Massatoshits....but America as a whole.... Finally, the Socialist Democratice House and Senate ought to be removed from voting every again as they are the ones that told congressional republicans, Including McCain that everything was fine...... There is enough blame to go around here, but it started in 1977, perpetuated in 99 and questiones raised in 2004-2005 about Freddie and Fannie....Welcome to Socialism, brought to you by your friendly Democrats...Um, for the record I am Independent

October 7, 2008 at 11:11 am

I believe Chris Dodd, who has been silent for the past 3 weeks should be booted. Then Barney Frank should be booted. They should have sounded the alarm when this crisis started to snowball when Clinton was president. Then the Hank Paulson. These people should pay back their moneys given to them from the each Freddy. Deregulation does not mean no regulation. People that point to one party as the fault are misinformed. This is a government issue not a party issue. For those who think it is a republican issue, look at your fact is you have any. The Democrats had an opportunity to stop this problem when the democratic congress was in play and did not! Electing Obama and his 2 trillion spending promises will not happen. If you think your going to get free health care, tax breaks, or any government program to assist you, your nieve.

October 7, 2008 at 11:10 am

Lets just clean out all of them and start fresh.

October 7, 2008 at 11:08 am

Paulson, Bernanke and all the other CEOs of Fannie Mae, Freddie Mac, Goldman Sachs, Lehman Brothers, Wachovia, Washington Mutual,etc., etc.should be sent to jail AND their assets seized and distributed to the American people who lost either all or a good share of their assets and who have been scamed by these individuals for years. At the very least their assets should be distributed amongst the seniors who have lost their life savings and the shareholders of the above-named companies. We put a kid in jail for selling drugs on a street corner and let these "criminals" walk away with millions of dollars??? What is wrong with this country? As far as who we should replace them with, I haven't a clue - it would be hard finding anyone (nowadays)at their level with any sense of moral and ethical value, much less character!! BTW, why is our Govt. giving billions of dollars to Africa, Afghanistan, Indian, etc. and then turning around and claiming we have a Budget Deficit (oops, guess we forgot our own Govt. and the American people who are and have been in a financial crisis for years!!

October 7, 2008 at 11:07 am

This is insane! They rushed and rushed to get this passed, but had no plan to make it work! Bush said this on Monday; that they needed to formulate the right plan! What the Frick? We need 700B, but we dont know why!

October 7, 2008 at 11:01 am

Irene Brown

I think they should both get the boot and prosecution should ensue. I don't know who should be given the job. Possibly a couple honest men who have true integrity and courage... Ron Paul or Mike Huckaby for example. I believe its not just Wall Street. Whoever managed to convince we needed the Federal Reserve instead of a solid gold standard anyway? Which congressman or senator agreed to allow them full rein without congressional accountability, or any other accountability for that matter. We need to change some very fundamental wrongs before it will be right again.

October 7, 2008 at 11:00 am

Lou Mortaloni

Everyone one in congress - senate and house!

October 7, 2008 at 10:59 am

We simply will not invest in stock!

October 7, 2008 at 10:58 am

Robert Nicholson

Barney Frank and Nancy Pelosi

October 7, 2008 at 10:58 am

Robert Nicholson

Barney Frank

October 7, 2008 at 10:56 am

Gary Thomson

Neither. The fault for this situation lies clearly with those members of Congress who blocked legislation in 2001, 2004, and 2006 to better regulate Fannie Mae and Freddie Mac. If you examine the votes, you'll see they split right down party lines. Republicans for and Democrats against. So, if you put Christopher Dodd on your list and Barney Frank on your list and Senator Schumer on your list, I could vote on your question.

October 7, 2008 at 10:55 am

That's a loaded question!

October 7, 2008 at 10:54 am

Who should get the boot? Every single lawmaker who voted for the "bailout" that's who. Chris Dodd and Barney Frank should be in jail. Company executives who walked away from monolithic empires in meltdown mode should definitely lose their multi million dollar severance packages. All of those guilty of fraud and or unethical business practices should be put in jail. I want to see these people escorted into a cell in handcuffs on the nightly news!

October 7, 2008 at 10:54 am

BOB ROUCH

EVERYONE WHO HAD ANYTHING TO DO WITH THE CHANGES OF LENDING REGULATIONS. PEOPLE WHO CAN NOT REPAY A LOAN SHOULD NOT GET A LOAN. I WORK IN THE BANKING INDUSTRY AND I CAN TELL YOU IT HAD BECOME ABSURD.

October 7, 2008 at 10:53 am

Neither. These two inherited the problem, the poor smucks. Alan Greenspan spoke of the conundrum but was unable to get responsible monetary policy from the White House or Congress. George Bush should get the boot for leading our nation into financial crisis. He pressed deregulation, just like Reagan did before the S&L debacle. This is simply history repeating itself with clear evidence that the Republican Party doesn't have any lessons learned. Also, McCain should get the boot as a clear message that the middle class is not going to tolerate incompetence in the White House.

October 7, 2008 at 10:53 am

Those in congress that encouraged lending to those that can not pay it back!!

October 7, 2008 at 10:52 am

I think all of our elected officials should get the boot on the federal level. I further hold 95% of them responsible for our mess today. I also want to say that any of them who voted for the WALL STREET BAILOUT will not get my vote and I will vote for the no-name candidates. I will further vote 3rd party or do a write-in for the president. My motto is now RE-ELECT NO ONE!!! VIVA THE REVOLUTION......!!!!!!!

October 7, 2008 at 10:51 am

Fire Hank Paulson! Now he is setting up a new U.S. Investment Bank. He got rich making this mess at Goldman Sachs. He has been extending this mess, doing one wrong move after another as he takes a "Wall Street" approach to "solving" this problem. So far his actions have only made things worse. He ignores rational approaches suggested by others, in favor of his own ideas. It seems to be "Hank's way or no way." Please, President Cheney, fire Hank Paulson before it is too late. Tonto, aka "W", should make the announcement today!

October 7, 2008 at 10:49 am

Ronald Morrison

The Democratic Congress should get the boot for ignoring the warnings and allowing the failure of Fannie Mae and Freddie Mac and then next our economy.

October 7, 2008 at 10:48 am

Henry Katz

The following should be under investigation: Barney Frank Mario Cuomo Franklin Raines for fraud in suppressing and/or aiding or abetting fraud as it relates to housing practices.

October 7, 2008 at 10:48 am

Fire Christopher Dodd and Barney Frank!

October 7, 2008 at 10:47 am

Scott Gilbert

Neither one should get the boot. What neeeds to be done is to go back and see which Congressmen did not listen to the red flags from John McCain and others to take care the problems at Freddie Mac and Fannie Mae. These are the first one's to go. They were not looking out for the people and have no right representing us in Congress.

October 7, 2008 at 10:47 am

Those who should get the boot are Barney Frank and Chris Dodd for failure to execute their responsibilities. I would replace Paulsen with Steve Forbes but can't fault Paulsen for what Fannie Mae and Freddie Mac management created with the help of Frank, Dodd, Clinton, Pelosi, Reid, Obama and Carter!!!

October 7, 2008 at 10:47 am

Barry J. Sullivan

Congressman Barney Frank

October 7, 2008 at 10:46 am

The american taxpayer should recover the lavish bonuses from the corporate CEO's on the boards of the failing financial institutions. They had no reguard for us, why should we have any desire to reward their greed.

October 7, 2008 at 10:44 am

Christopher Dodd, Barney Frank, and anyone else who wrote laws governing Fannie Mae & Freddie Mac, the ceo's of Fannie Mae and Freddie Mac, past and present, anyone who took contributions from Fannie Mae & Freddie Mac, just for starters.

October 7, 2008 at 10:41 am

Paulson should be arrested and replaced by Congressman Ron Paul. Congressman Barney Frank at the very least should be removed...why the voters keep sending him back is evidence there is not much intelligent life in Massachusetts. Senator Chris Dodd is another criminal who should be voted out. Why the voters keep electing him is a head-scratcher

October 7, 2008 at 10:36 am

Yes I would replace all the people in Washington that supported this socialistic bailout. My dog could have done a better job, at least he would have smelled the stench from all the "bad rotten" paper that was being hung on the American economy.

October 7, 2008 at 10:36 am

DAMN RIGHT, AND MAKE THEM PAY SOME OF THIER MILLIONS BACK TO THE PEOPLE. AS FAR AS THE CEO'S GETTING ALL THOSE MILLIONS, SUE EM,AND JAIL THEM FOR AT LEAST 2 YRS>>>>>>>

October 7, 2008 at 10:36 am

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