Comments on: Money Crisis: Ask Ali

By: Benjamin

Benjamin — Sat, 11 Jul 2009 17:34:29 +0000

why don’t we just get done to the bare bones and tell how AIG sold insurance on those bundled real estate packages and raked in big bucks cause people always pay insurance and when you put in a claim you’re usually denied and AIG did this and claimed they had no money to pay the insurance claims, while not disclosing this to the general public and put in a claim to the government for a bailout and they are basically thieves preying on us again by passing out these “retention bonuses” when these people are the same ones who scammed us in the first place!!! They got to keep all the money they collected from selling insurance on something they knew, well in advance, would fail and just cashed in on it.

California needs a bailout not AIG let those predators go to another company and get some honest or more honest folks in there to fill their positions.

By: Phil Colon, New York, NY

Phil Colon, New York, NY — Sun, 22 Mar 2009 16:15:53 +0000

Ali..great show BUT what about getting the prospectives of a “real” smallbiz owner? I mean really? 90% of small businesses do not get venture capital money..they finance their businesses on credit cards, family loans (forget the meaningless SBA), Home loans, etc. They are between $200k and $5mil in size. They have incredible health care costs, high taxes and NO support from the government…They “WE” need our own stimulus package since we are the only ones going to create jobs….big business will not be hiring anytime soon…in fact..they will have less people doing more work for a long while. It is TIME for the media to stop speaking to pundits and start speaking to REAL people. Small Biz needs specific attention. We are the American Dream!!! Watch the video link from CNBC, and Please Tell Donny Deustch he knows NOTHING about small businesses…he inherited a mutilmillion dollar Ad agency from his DAD!

http://www.cnbc.com/id/15840232?play=1&video=1063058328

By: Cullen Sutton

Cullen Sutton — Wed, 11 Mar 2009 01:01:43 +0000

West Virginians are rather sensitive about not being thought of as Virginians. As we say here, ” I am from West, by God, Virginia! We may be small. We may be owned and controlled by out of state coal, oil, gas and timber companies but we are proud to be WEST Virginians.

By: Demi West Palm Beach, FL

Demi West Palm Beach, FL — Thu, 05 Mar 2009 18:17:56 +0000

QUESTION CORRECTED
Ali, I would like to know why the increase in homeowners insurance premiums and taxes are NOT considered to be the foundation of the foreclosure problem. I keep hearing homeowners say that this is their problem. I am with a foreclosure law firm

By: Demi West Palm Beach, FL

Demi West Palm Beach, FL — Thu, 05 Mar 2009 18:05:09 +0000

Ali, I would like to know why the increase in homeowners insurance premiums and taxes are considered to be the foundation of the foreclosure problem. I keep hearing homeowners say that this is their problem. I am with a foreclosure law firm

By: Sally, Ligonier,IN.

Sally, Ligonier,IN. — Tue, 24 Feb 2009 15:26:07 +0000

President Obama said during his campaign that he would like to waive the penalty for early withdrawl from 401K to help the people. Was that just an empty campaign promise or did he really mean it.

Please respond,

By: Joshua Wertheim, Boca Raton, FL

Joshua Wertheim, Boca Raton, FL — Thu, 29 Jan 2009 17:36:44 +0000

I previously suggested a Federal Credit Insurance Corp, similar to the Federal Deposit Insurance Corp, which would insure bank loans. I thought something along those lines could be self-funding, nudge the banks to willingly open up credit lines, and help solve our country’s economic woes.

I have another suggestion, which is something from the 1970s. An Investment Tax Credit, whereby big-ticket purchases of American-made products would earn a tax CREDIT for businesses and people. Has the government ever considered something along those lines? It seemed to help then – I was with IBM and the incentive helped sell alot of computers even in the late 1970s when the economy was tough.

By: Tenney, Westbury NY

Tenney, Westbury NY — Thu, 22 Jan 2009 20:13:22 +0000

Ali,
Im looking to buy into a co-op in Manhattan. its 350,000. Ive heard that I need at least 20% to get the loan. Problem is im 25 and dont have 70,000. even if I could save 1000 a month it would take me 6 years to get that money. Is there anything I can do, or alternatives available for me.

By: Anonymous

Anonymous — Tue, 13 Jan 2009 22:50:58 +0000

Ali please help me? I have my paycheck directly deposited to a prepaid visa. I used a National City atm over the weekend, the transaction went through twice!! This has caused my automatic bill payments to be denied! Today,I went to the bank to resolve this,I was told that National City can not help me because I am not a customer of their bank. Though the manager did give me the instructions to dispute the matter with the prepaid visa issuer. National City is the bank that took my money! I would think that if the atm accepts my request and charges the fee to take out the money then I feel I am their customer aswell. When asked why this happened the bank manager had no reason other than that this does not happen often and of course he gave a empty apology. The matress is looking like it might be the best option, our financial institutions in this country are corrupted. The process that I have to take is long and drawn out, in the meantime I am out three hundred bucks, where is it. Could my money be a small portion of some sum that is traded overnight? If so how much money can they make off of me for that matter am I the only one, it is a far fetch to say so. Thanks The Carter

By: Sami Tyler Texas

Sami Tyler Texas — Tue, 13 Jan 2009 07:10:55 +0000

ALI VELSHI
If govt give evey American Prepaid Visa or Master card instead of stimulas chk with 90 to 120 days expiration then everybody will spend tht money & it will boost the economy also govt can get 1% credit card fees back from VISA & Master card also govt can sell advertisment on those cards and also big American companies can sponsor those card by giving 10 to 20 % off to customer when they buy their product this my suggestion only.

By: Patty - Rochester, NY

Patty - Rochester, NY — Mon, 12 Jan 2009 23:05:37 +0000

Hi Ali
We viewed the documentary yesterday, I.O.U.S.A. It was EXCELLENT. I found the information very detailed yet at a level that the average person could understand. I thought your panel was very good with their comments. I have shared this within my office today and would hope that this will air many times over for more people to watch and absorb. Everyone needs to see this and think hard and long as well as be ready to be asked to “give”. You should also think strongly on Pete Peterson’s suggestion of CNN doing a show on HOW TO SAVE – excellent suggestion.
On other notes, I have wondered about several areas but have not seen anyone address this to any detail with regards to generating more revenues to offset our deficit. The 1st being Social Security: why don’t they lift the earning ceiling from Social Security. There have been a lot of people retiring from their line of work or wanting to cut back once they reach 62 yet still want to be productive, especially the self-employed – but they have to watch what they make so they don’t have to pay back to SS if they go over the earning ceiling. If they did away with earning ceiling and let people draw their SS early if they “wish” but still be productive and pay taxes on whatever they made, I think this would benefit SS greatly. I have asked this amongst friends at various income levels and they would not mind. Also, why have a ceiling limit on the regular wage earner where after a certain earned income you no longer pay into SS – this makes no sense whatsoever. If you earn it then you contribute accordingly on everything. Again, this would certainly add to offset the problem.
Finally, if banks are charging lower interest rates for mortgages but ridiculously higher rates on credit cards why can’t they give reasonable rates for REGULAR SAVINGS account – it would put more $$ in the hands of the banks. You can’t encourage people to save if they can’t get a good rate for their savings.
I enjoy listening to your feedback on CNN – keep up the good work – Thanks

By: Mike McKibben, Lady Lake, Fl

Mike McKibben, Lady Lake, Fl — Fri, 09 Jan 2009 18:00:29 +0000

I’ve asked this question at least a dozen times, and I have yet to hear it addressed. How can what Wall Street, all the way down to the mortgage brokers, who wrote these home loans based on over inflated home values, and non verified incomes, not be criminal acts? There is no way I can believe that when these mortgages were traded, with full knowledge that their values were at best only worth half their face value, that this is not bank or securities fraud. Those who made millions off this took the money and ran, leaving the tax payer hold the bag. This is nothing less than what Madoff did, only it was played the same way ENRON was. They robbed the bank(s), often with the help of the bankers, and now we, the American tax payer, is stuck with the bill. So where are these criminal indictments for theft, bank and securities fraud??

By: ronald,canonsburg,pa

ronald,canonsburg,pa — Fri, 09 Jan 2009 13:36:51 +0000

Dear Ali
Am curious to understand better the effects of the debt of our nation. Our nation has our debt,and our nation borrows money to pay for that debt and its interests charged.
So, what ratio of countries largely own US debt? China own the most of our debt? If so, are we simply robbing peter to pay paul, as the phrase goes.
We owe monies to China for our debt.We do not pay that debt,so we borrow monies and sell that debt to China. China buys that debt, so we can continue to spend, and China continues to manufacture goods cause they buy our debt?
Then,will we ever not remain in debt?
What would happen if oil drops to $2.00 a barrel? Would our nation scrap its quest for alternative fuels like it scrapped its goals in the epic of OPEC 1970s? Brazil subsidizes its farmers to grow sugarcane for ethanol,told car manufactures to equip cards to operate on sugarcane ethanol, or get lost.
Now, Brazil is among the most intelligent while our nation most likely laughed at their quest to change away from oil.
Would Brazil now have the last laugh?
Why can our nation scrap corn based ethanol and replace with sugarbeet ethanol instead?
Since genetically modified sugarbeet processed sugar got approved by USDA and FDA, why not use the GM sugarbeet for cars, since americans have enough of the GM mumbo gumbo from big business.
I suggest, the Monsantos of the world, just create GM oil to operate cars and then see what happens.

By: Joshua Wertheim, Boca Raton FL

Joshua Wertheim, Boca Raton FL — Fri, 09 Jan 2009 12:50:41 +0000

The economy is consumer based, all predicated on the ability for people and businesses to borrow money which the banks are just not offering.

So, how about a Federal Credit Insurance Corporation? Here is how it would work.

1. Bank Loans and Mortgages are guaranteed by the Fed.

2. The Fed charges 1% interest to the consumer / business to fund the program.

3. U.S. Citizens and U.S. companies are eligible.

4. Loans are available up to a maximum based upon income reported to the IRS.

5. Loans for catastrophic health care can exceed the maximum. Loans for unemployed people are made available as well if the person was employed at least 75% of the time over the previous two years. Borrowers can make interest-only payments if hardship can be proven, without damaging their credit.

6. Banks cannot turn down a loan request if minimum requirements are met, including credit scores and other existing debt. Interest rates are capped at prime plus 2%.

7. Bankruptcy cannot absolve the loan principal (only interest). The borrower gets 15 years to repay the government even if the borrower goes bankrupt. For businesses, the shareholders / owners share the obligation in proportion to their ownership interest.

By: Isaiah Dallas,Texas

Isaiah Dallas,Texas — Fri, 09 Jan 2009 12:41:31 +0000

I lived in Alabama for 12 yrs. and Atlanta for 3.5 years. Theres alot of High Tech and Goverment/Defense companies there which may account for the higher job rate. You also have a good amount of military bases.

By: GG, MADISON, AL

GG, MADISON, AL — Fri, 09 Jan 2009 12:23:06 +0000

To Ali Velshi regarding his comments about Alabama not having a high unemployment rate: Look at the BRAC coming to Huntsville, AL and how the Army and NASA are boosting the economy in Huntsville. That has a LOT to do with the lack of high unemployment in this state.

By: Wayne Huber, Lincoln Park, MI

Wayne Huber, Lincoln Park, MI — Fri, 09 Jan 2009 11:13:38 +0000

Hey Ali, Going to buy your book before work today better be good, im sure it will be, you are good at what you do, I need advice. Im 22 and started my 401k about 2 years ago, I put about 200$ a week in, How should I slip my money up, I have 40% in Asset Allocation and 60% in Capital Preservation, Please help scared on how to move my money around with this market. Thanks Ali

By: Nancy Brunswick, Peninsula, OH

Nancy Brunswick, Peninsula, OH — Thu, 08 Jan 2009 21:44:13 +0000

I am retiring from public school teaching in June and will receive a severance package of $35,000 from unused sick leave. Would it be better to defer it into a 403b plan and pay the taxes on it as required when I withdraw amounts from the account, or take the full amount then, pay the taxes, and use the rest to pay down credit card balances?

By: Don Anderson--Bennett, NC

Don Anderson--Bennett, NC — Thu, 08 Jan 2009 17:05:33 +0000

As I continue to watch you, the president, and other “experts” on the countries economic situation I never see any mention of cutting off the flow of jobs out of the country. Would seem to me that it would be a priority to get the country produceing something instead of consumeing from else where. If nothing else tax the imports to death and the companies that go overseas should be taxed more also. Use that to shore up the ones that have stayed here. Our country needs an attitude adjustment. Someone working on an assembly line in Detroit does not deserve to be making so much money that he has a $300,000 home, a beach condo, a Harley, a boat, and a motor home. We need to get back to what we need, not what we want. It is this attitude that has put us where we are today. In the presidents speech today he talked of energy production and just a few weeks ago Progress energy sold its nuclear power plants to a French group. So now our home produced energy is owned by another country. I could go on forever but who would hear?????

By: Guadalajara, Mexico

Guadalajara, Mexico — Thu, 08 Jan 2009 14:10:19 +0000

I LOVE YOUR SHOW AND COMMENTS BUT

HELP CNN AMERICAN MORNING is not available anymore in Guadalajara Mexico, they are telling us (the cable company) Telecable that CNN changed the Signal and we are getting the international version. With all due respect the international version is NO GOOD. we want the CNN signal we had before.. please help.. Luis Briseno. Guadalajara Mexico