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Let's get -- view of an important player on the front lines of all that we are talking about this intersection of main street and Wall Street.
This constant struggle back and forth.
A short term rally will not alleviate main street anger as long as -- AIG bonus fiasco the American people continue losing their jobs.
And the value of their homes -- Our first guest sees a double standard let's get Michigan governor Jennifer grant mom's reaction.
To the new public private bank plan first of all governor thank you for joining us for happy hour.
You bet you that thinks they can hear it is -- happy hour.
I have that -- today.
As well we have a lot of people celebrating apparently in the park -- very pack but governor.
He you know you have touched down what -- what a lot of us have been catching on here on Fox Business happy -- particular.
How that he thought congress in the in the treasury that -- to every mom was overseeing.
Forcing automakers and the unions.
Do you -- -- renegotiate there was contact before you give -- before we give you a bailout.
Well not even bail -- money well.
AIG sure won't give you bail out money and we're not even know what that meant what happened asking to renegotiate.
All the contract you have with your executives double standard.
Oh yeah absolutely I think that there is an incredible amount.
Of double dealing and on the one side you get every -- guys who are working in the factory in men and women who are asked.
To give back and they do and -- -- a responsible way and exchanged for a bailout loan that's alone -- not a gift as you say.
And on the other hand you get the industry.
They created this problem.
Those those credit default swaps snapple.
AIG package and those guys are the ones who are getting huge gifts.
Greats of the taxpayers.
And not asked and while they are now ask you to give it back and I'm glad that the Obama administration recognize the crowd with that.
And I are gonna go after it.
There's a lot -- anger out here on main street as you say and I hope that the rally today when everybody looks at their 401K.
Pensions statements and I hope it's the start of something big but I can tell -- out here on the ground.
In middle America all we want is for somebody have fixed it.
Yeah I've got to -- -- get credit thanks for joining us physically -- now the kids don't look bad double standard that I'm seeing -- I see.
One Barack Obama go on sixty minutes and say hey you know what we were surprised by the steep downturn.
But on the other hand that means is probably going to be a nice steep rally and on the other hand I see him coming on -- on the media today.
We're in this for a long time.
I don't know -- -- deciding to which one do you -- it it was in the guide it says things are getting better the one that says we're at this is going to be like this for a long time.
And then I actually think it is both from the main street is wondering what is gonna -- what -- gonna do for me now for the guys who and the men and women who've lost their jobs because of the downsizing in the manufacturing sector for example.
They're saying what is there was.
For me today how am I gonna keep in my house today how -- gonna pay my credit cards today population these credit card companies aren't.
Totally -- up my rates because my there might have been pulled out from under me.
That's the the immediate but the long term is in the Obama administration is absolutely.
We write that we have got as a nation to invest in the things that will set us on the right path long term.
That's why -- contains governor and as a citizen I'm so grateful for this Recovery Act.
Which will allow us and states to invest in those things that will like in Michigan help -- to diversify.
And set us on the right path so there's both -- short term answer and the long term answer.
We have to move in the right direction long term but we also need to make -- the safety -- -- -- -- short term.
Governor you know you talk about people on main street talk about -- you talk about Wall Street in New York area.
People in New Mexico and that's what I come back to they don't have any they don't get any of the -- the bailout money.
They don't get any of the benefits from -- all and we've already the people of New Mexico the people of Kansas the people of I don't know -- Have already -- what tens of billions of dollars into the Michigan economy in the form of well what do -- and if they're in the form of the bailouts for the Michigan so far in for Detroit so.
Finally went around OK hey we might get bankruptcy anyway.
First of all these are loans and it's a you know Wanda I don't the percentage of that AIG -- and the last time.
The federal government they don't see the manufacturing sector in the political I finally got the money back.
I don't want to I don't I was -- I don't want to rationalize to what Washington.
Bailouts -- a lot for Wall Street or for Detroit that's my question is when do we stop any of the ballot I think that's what the American people want they don't want to fix it.
They just want contracts to be honest.
Well -- they want to fix it too.
Let me and then hitting a lot of them recognize that you got to do something extraordinary in order to stop the slide from recession into a depression.
And so today perhaps you're seeing some of the benefit of that but I can tell you here on main street.
We want to see the long term the long term benefit hopefully this is not just a one day rally but that this is -- start.
Than a sense and that would be a great thing.
But when you say that New Mexico or Kansas or of those other places aren't seeing the benefit -- it.
They are Recovery Act is making sure that both those states have jobs have jobs saved.
And have the ability to make sure people are not cut off of health -- in the middle of this prices.
Make sure that -- unemployment benefits exist for them as they go through this tough time so every state is benefiting from that unless your state.
Where the governor has decided to turn the money back in which case I can tell you that Michigan will be the first in line to take your money.
Did -- -- tape.
All my capsule everybody's getting money but at.
Magnitude of -- -- telling her out not well for for Detroit.
Governor thank you very much -- joining us would definitely have you back we're happy hour appreciate it all right thanks again.
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