Blog
LatestArticlesVideosHands-On History
Radio
LivePodcastSerialsStations
TV
Podcast
Show Prep
Events
Restoring the Covenant
More
AboutBooksCharityReal EstateSponsorsShopContact
SEARCH
Live Radio

©2020 MERCURY RADIO ARTS.
ALL RIGHTS RESERVED.

TERMS OF USE | PRIVACY POLICY

Live

Glenn Beck: Romney talks bailout

September 23, 2008
 Radio Clips

The Glenn Beck Program




Mitt Romney

GLENN: From Radio City in Midtown Manhattan, third most listened to show in all of America. Hello, you sick twisted freak. Welcome to the program. My name is Glenn Beck. Governor Mitt Romney is on the phone with me now and we're just talking a little bit about the bailout package and whether or not it is something that we should do. Governor, I have been against the bailouts of, you know, Bear Stearns, all of these bailouts I've been against. You could have made the case on AIG because it's an insurance company but here we go with a massive program that you're kidding yourself if you don't think that it's at least $2 trillion that it's going to end up being. A lot of people say where's my bailout, why should I bail these people out on Wall Street that have caused this problem.

GOVERNOR ROMNEY: Well, there's no question no one has any interest in bailing out the guys on Wall Street who caused this problem. In many respects the term "Bailout" is a misnomer. The people who caused this problem ought to lose jobs, ought to lose wealth and are going to face some hard times by virtue of their mistakes but what we want to make sure is that the people on Main Street and the homes all over America, that these folks aren't the ones who are suffering and if we had a meltdown of our financial system where banks and financial institutions couldn't make loans, where your life insurance policy was suddenly worthless, where awful these kind of dramatic changes occurred, you'd hurt a lot of people. A lot of people would lose jobs. You could even throw the country into, well, a very severe recession or even the D word which I don't want to use, but it's that which the treasury secretary and the Federal Reserve are worried about and that's why they are taking such extraordinary action.

GLENN: Explain a little bit of what happened last Wednesday in layman's terms. I don't know if America really has a handle on, we were talking about shutting the country off because of nobody was making loans to each other. Nobody trusts each other anymore.

GOVERNOR ROMNEY: Well, the challenge all started with exuberance on the part of Republicans and Democrats to give mortgages to people who really didn't have the capacity to pay back the money. Everybody hoped they would but, you know, it was just irrational exuberance as Greenspan used to call it and so all these mortgages were handed out and then the banks, investment banks and other institutions held onto these mortgages expecting to get paid back and when the inevitable happened, when it was clear that people couldn't pay it back and started defaulting, we recognized that these banks and investment banks didn't have as much money as they thought they had and therefore they had to stop lending to new people because they didn't have money to lend. And when you start seeing people having to stop lending, well, then you mean folks can't buy cars, the kids can't get loans for school, that people can't buy homes and you could slam the whole economy shut. And it was that that the Federal Reserve feared and that's why they are proposing such dramatic action.

GLENN: Okay. The country is not for this bailout at this point, and I think that is because nobody has been nobody will use the D word. But if you don't stop this in its spiral out of control, businesses, I mean small businesses, big businesses, it just closes shop almost overnight. Yes or no?

GOVERNOR ROMNEY: And that's you are absolutely right. That's the fear. The fear is if all the banks start going under, all right, if the investment banks start going under or if they just can't make loans anymore because they don't have a strong enough balance sheet, not enough cash, if you will, and reserves to make loans to people, well, guess what happens in this country. We have a massive economic slowdown unlike anything we've seen for 100 years.

GLENN: That's a real concern, though. People dismiss that as, oh, that's crazy, that will never happen. That's an actual real consequence of doing nothing or doing the wrong thing.

GOVERNOR ROMNEY: Well, that's precisely what Secretary Paulson and Chairman Ben Bernanke and people on both sides of the aisle fear. And you can't be 100% sure that would happen but that's what they fear. They are not trying to save the jobs of the folks on Wall Street. They are not crying over those. What they're concerned about is that if Wall Street and the banking sector and the insurance companies go out of business, why, the entire country can go out of business.

GLENN: Okay. Now, the other side, because I am because I now understand exactly, this is not and correct me if you disagree with me but I believe this is not necessarily we all hoped that it would work but this is not necessarily designed to just put everything back in rosy condition. This is to land the plane even in the middle of a field or a forest, just have some pieces of the plane left and not kill everybody on board.

GOVERNOR ROMNEY: Yeah, Glenn, I think you hit it on the head because even when this is done, there's still going to be dramatic change in our financial markets. Institutions are going to stop we're not going to have investment banks like we used to have.

GLENN: Right.

GOVERNOR ROMNEY: New York may cease being the center of financial activity in the world.

GLENN: Which is gigantic. The other thing is, is that we would whether this works or not, we're probably going to live more like my grandparents lived that they were saving the bacon grease, they never threw scraps away, you know, my grandmother fixed our shirts and our pants. I mean, we were thrifty because they went through the Great Depression. We're going to have to, one way or another, reset pretty close to that kind of a lifestyle again.

GOVERNOR ROMNEY: Well, I don't know that we're going to go quite that far. I'm not planning on saving the bacon grease, but I think people are going to be thrifty. We are with our automobiles now. We're looking at far more fuel efficient cars, we're looking at turning down the thermostats in our homes. We're just saying, you know what, in a world like the one we're living in, we can't afford to be as extravagant with energy and with spending as we've been in the past. And by the way, government is the place to start. We're going to have to rein in these politicians that keep adding new programs and new spending ideas. It's part of what's precipitated the crisis we have.

GLENN: Okay. Now, the other argument against not doing anything would be that we're printing money in the basement. We're adding more debt to some we're doing exactly what caused this. We don't have the money to do it but we're like, oh, no, we can just carry that; don't worry, we're good for it and somehow or another we'll figure it out, things will get better. And so we're doing what we all did in our own personal lives, not everybody, but a lot of people did in their own personal lives, we're doing it on the federal government scale to the Nth degree. How does it not end up destroying the value of our currency and not destroy, you know, the integrity and the credit rating of the United States of America?

GOVERNOR ROMNEY: There's no question but that the decision that we're taking to add more debt is something which weakens our currency which makes us more vulnerable in a global competitive world and has the very aspects you are speaking about. It's a question of which one is the worst. Those that are studying the effects of the two directions are saying, look, we're better off here buying some of these mortgages that aren't performing well, that aren't being paid back, we're going to buy them and then over time we're going to try and collect as much as we can from the various homeowners and sell homes and try and create stability. Because what the Federal Reserve is saying is look, when things go down in a fire sale mode, you are going to be in a lot worse shape than if you try and have an orderly, if you will, reorganization of the effort. So they are going to say we're going to add some debt but at the same time we're going to pay it back in a slow but sure way. And that's the you know, that's the there's no easy answer here. There's no obvious answer but it looks like the best one at this current juncture.

GLENN: Okay. The Democrats are trying to add a stimulus package, they are trying to say that judges should be able to be involved and renegotiate your mortgage payment, et cetera, et cetera. Is there anything here that you say, you know what, I'm for this bailout package but I draw the line here; this cannot happen?

GOVERNOR ROMNEY: Yeah, at some point if you load an aircraft up with too much baggage, it won't take off. And this is an emergency effort to keep our economy from going into a tailspin and congress, you know, should act pretty narrowly and then if they want to do other things, fine. They just passed a $300 billion program to help people stay in their homes and they want to get credit for doing more. You know, let's do that on a separate day if we can. By the way, I think John McCain is right to say, look, if the Federal Reserve steps in or the Treasury steps in rather and keeps a bank from going bankrupt, we better not watch this CEO pay himself a $10 million bonus and so we're going to limit how much these guys can take out of these banks because we're not saving it for them. We're saving it for the citizens who want to borrow.

GLENN: Right. I don't have a problem with that but I do have a problem with telling people that they should have a salary cap.

GOVERNOR ROMNEY: Well, it's a compensation cap of some kind.

GLENN: But is it only for failures?

GOVERNOR ROMNEY: Oh, yes. It's only for those that take money from the government.

GLENN: Then I have no problem. If you fail, you get 10 bucks.

GOVERNOR ROMNEY: Exactly. It's like saying, if you want the government to bail you out, to buy your bad debt from you, then the government is going to have a say about how much you are going to pay yourself because we're bailing you out so you can keep in business and lend money to our citizens. That's why we're not to pay yourself a big bonus.

GLENN: Good. I don't have a problem with that. Governor, I know you've got to run. Thank you so much.

GOVERNOR ROMNEY: Glad to be with you.

A message to President Trump's haters

President Trump has given us great judges on the lower court, 3 judges far superior than Roberts and other bogus constitutionalists as SCOTUS and one just may turn out to be another Clarence Thomas. He kicked the ass of ISIS and came home.

He got us out of the disastrous Iran deal, killed their head of terror, boxed them in and is currently collapsing their economy while also brokering a Mid East peace deal that everyone said could never happen. He moved our embassy to Jerusalem despite the state department, something no president has done even though they all promised.

Yes, he met with the North Korean Dictator. I hated that, but I also hated the fact that no other president did anything and North Korea kept gaining power. He has gotten Europe to pay their share of NATO, brought the Arabs and the Jews together, while smashing the choke hold of the PLO, and stood up to the Chinese instead of selling them supercomputers (Clinton), accepting lead poison in dog food (Bush), or loving the CCP and taking millions in dirty money (Obama/Biden).

He also has defended religious liberty unlike any other president at least in the last 100 years, and is a true pro-life advocate that unlike most republicans backs it up with action instead of just talk.

President Trump has also opened doors that the GOP was too wussy to even try to open with Hispanics and Blacks. He again didn't pander. He instead cleared the dead wood and opened pathways up so they could get higher education, create jobs, and not get lost in the prison system.

He also has defended religious liberty... and is a true pro-life advocate.

President Trump also took on an economy that had been beaten down, a people who had been told "you didn't build that" and, in fact, Obama and Biden claimed that the economy was "as good as it would ever get," that we would never create jobs in sectors ever again.

President Trump gave us the lowest unemployment rate since 1969 (the year I celebrated my 5th birthday,) the lowest unemployment for Hispanics & Blacks ever, and the first real growth in pay that I can remember.

President Trump then responded to the largest pandemic in 100 years by doing a couple of things I have never seen a president do:

  1. America's biggest capitalist shuts down the entire economy and knowingly puts his re-election at risk in order to save people.
  2. Closes travel with China and Europe, only to be called “racist," "xenophobic" and accused of stirring hatred. Now everyone says they were for it, but he stood alone and took the heat.

When everyone bashed him because they thought he would seize control and become an authoritarian by telling states what to do, or taking control of companies and telling them what to produce, he simply asked the free market to step to the plate, because he trusts the people of this country to do the right thing. By not taking control, he was called a dictator and a Nazi. Meanwhile he has been blamed for the blood bath created by Gov. Cuomo's nursing home policies. They said 2 million would die, best case scenario 200,000 — if we did everything right. Gee, seems that we are now in the time period they told us would be phase two, it seems as though we seem to have hit that "best case scenario" at this point.

While all of this has gone on, President Trump has fought the lies that were started by Hillary Clinton's team to smear him as a Russian operative. It was enabled by the Obama White House and included the DOJ, CIA, Dept of State, FBI, and DNI. Did I leave anyone out? Oh, yeah we are now getting evidence that members of the Pentagon may have been involved as well. Not to mention the so-called "press" and Congress who did things that would embarrass not only "Frank Underwood" but also Kevin Spacey. He has single handedly exposed the press for who they are and have always been. Because of his tweets, personal style and frankly balls of steel, he has exposed those who truly are: "Enemies of the people." I hated that when he first said it, but it is true. Any person or group that knowingly lies to destroy our president, our Constitution and the free market, are not just enemies of the people, they are enemies of the freedom of all mankind.

As someone who didn't support President Trump at first (and that is putting it mildly) I remain honest enough to judge him on his entire record. He is perhaps the only man in America that can and has stood entirely alone, surrounded by enemies, surrounded by those who took an oath to protect and defend the Constitution, who are now actively engaged in destroying it and any elected president who stands in their way.

Personally, I have grown sick and tired of spineless, do nothing, old, corrupt GOP politicians who are either part of the problem or too frightened to stand alone and speak up. The vast majority are all "Sunshine Patriots." History will condemn those who did nothing but complain and whine, while others not only rang the bell, but stood and took the hits, who risked it all and lost money, reputation and perhaps, God forbid, some who gave the ultimate sacrifice to fight the evil that rages so clearly against the light.

100 years from now history will judge all of us. So will our children's children. Most will be forgotten. Those who failed to show up on the battlefield or cower in the trees, will be remembered with shame and disdain. Others like President Trump, I believe will be seen as indispensable.

DECODING the Democrats' EXTENSIVE ties to 'Big Tech'

Annie Spratt/Unsplash

The Democrats' ties to "Big Tech" and the entertainment industry have placed them in the perfect position to influence both public policy and our nation's culture. It's impossible to unweave the entire web of Democrat operatives and sleeper cells, but here are a few of the current ties between the Dems and an industry that arguably has more influence on our day-to-day lives than any other.

Twitter Executives

Jack Dorsey, CEO

Omid Kordestani, Director, Executive Chairman

Ned Segal, CFO

Evan Williams, Former Twitter CEO, Current Board Member

Bridget Coyne, Public Policy Director

  • In charge of government/election partnerships with leading global government and political publishers including content strategy for Twitter
  • Intern and Press Secretary for multiple Democrat politicians, plus Rachel Maddow Show

Nicholas Pacilio, Senior Communications Manager, former Communications Manager

Carlos Monje, former Director of Public Policy

Brandon Borrman, VP Global Communications

Facebook

Mark Zuckerberg, CEO

Sheryl Sandberg, Chief Operating Officer

Andy Stone, Policy Communications Director

Anna Makanju, Global Policy Manager

Brian Rice, Director of Public Policy

Probir Mehta, Global Public Policy

Jessica Hertz, Former Director and Associate General Counsel

    THE 2020 'CHAOSCARS': Awarding the left's efforts to sow DIVISION and CONFUSION

    When I first talked about all the problems with mail-in voting two months ago, I said the last thing we want to see is voting rules getting changed so close to an election. Yet, that is exactly what is happening right now across the nation.

    And in almost every case, Democrats are fighting to get rid of simple, common sense safeguards like requiring a witness signature, or requiring that a voter's signature on a mail-in ballot matches their signature on file. It's really an insane effort to change the rules in the middle of the game. And the effort is still going strong even though we're less than three weeks from Election Day.

    Remember how mail-in voting is supposed to save the Republic? If that doesn't sit well with you or make sense to you, you are not alone. Start the video below at the 2:04 mark and see what reassurances Abrams shares.

    "We must adapt to how we conduct our elections?!" That's practically been the Democrats' motto for 2020. Don't like the results you get from regular old-fashioned elections? Let's just create some new "norms" for voting. I mean it's been on their to-do list forever anyway and COVID is the perfect opportunity to finally get it done.

    So, how is that "adapting to new norms" thing going? Well, I'm glad I asked. Because it's the perfect time to welcome you to the inaugural Chaoscar Awards, recognizing achievements in mail-in voting chaos.

    For example, the "Every Vote Matters" Chaoscar award goes to Luzerne County, Pennsylvania where the FBI found nine discarded military ballots in a dumpster.

    The Letter from U.S. Attorney David Freed to the Luzerne County Bureau of Elections says:

    The FBI has recovered a number of documents relating to military ballots that had been improperly opened by your elections staff, and had the ballots removed and discarded…

    The FBI also found additional absentee ballot envelopes that were empty, so who knows where those ballots went.

    But wait, Stacey Abrams told us mail-in voting is safe and secure! Secure? Well, maybe not if you're in the military and sending your ballot to Luzerne County, Pennsylvania.

    The "It Takes Two to Tango" Chaoscar goes to Fairfax County, Virginia for mailing duplicate absentee ballots to 1,400 voters.

    But don't worry, election officials have it all under control. They say only one of the ballots will be counted — unless you're a Democrat. Okay, they didn't really say that, but they were probably thinking it. Officials blamed a printer problem and said people should destroy their duplicate ballot. Or, they could just send it to our next Chaoscar winner — Texas mayoral candidate Zul Mohamed.

    He was arrested last week on voter fraud charges after applying for 84 absentee ballots and having them sent to a P.O. box that allegedly belongs to a nursing home.

    Nice try.

    Next, the "You've Got No Mail" Chaoscar goes to Outagamie County, Wisconsin. Three trays of mail, which included multiple absentee ballots, were discovered in a ditch along a state highway.

    Does no one bury anything anymore? If you want to get rid of ballots, why are you using dumpsters and ditches?

    New York City wins the "G.I. Schmo" Chaoscar for sending voters mail-in ballots marked for military use.

    That's right, New Yorkers who have never served in the military have received the ballot, which says "Official Military Absentee Ballot."

    Maybe there was supposed to be a slash between the words "military" and "absentee," but voters are obviously confused and concerned about whether they're supposed to go ahead and use the ballot even though they're not in the military.

    Over 520,000 ballots have already been sent out and the New York Elections Board does not know how many of those have the error.

    The 'Every Vote Matters' Chaoscar goes to...

    We hop over to New Jersey for our next award — the "Dumpster Diver" Chaoscar goes to a mailman who has been arrested for allegedly tossing 1,875 of pieces of mail — including 99 election ballots — into a dumpster.

    What was that Stacey Abrams? I forgot...

    Next, New York City wins its second Chaoscar of the night — it's the "You Had One Job" award for sending out 140,000 absentee ballots to Brooklyn voters with the wrong names and addresses.

    These voters are supposed to complete their ballot and put it inside the official absentee ballot envelope, then sign the outside of the envelope and send it in. But these return envelopes have the wrong name and address, so voters cannot sign them unless they want their ballot to be voided.

    Many voters do not even have the right name on the ballot itself.

    And this is great — the New York Board of Elections says a "printing error" is responsible for the bad ballots. Wow — really, a printing error? Gee, how did they ever solve that mystery?

    One report on this said:

    It was unclear exactly how the city planned to handle voters who had already mailed their completed ballot back in the provided envelopes.

    That is a huge red flag, because it's exactly the kind of issue that will help fuel chaos and endless litigation all over America after Election Day.

    Next, the "I See Dead People Voting" Chaoscar goes to the Commonwealth of Massachusetts for its new temporary rules allowing dead people's votes to count.

    Before this year, Massachusetts allowed early voting to start ten days before the election. If you voted early and died before Election Day, sorry, your vote would not count.

    But Massachusetts changed the rules this year because of the pandemic. Now early voting starts 30 days before Election Day. And if you cast your vote during this early window, and then kick the bucket before November 3, you can rest in total peace knowing your vote will still count!

    America — land of opportunity, even after you're dead.

    Our final Chaoscar of the night is the "It's So Crazy It Just Might Work" special achievement award, which goes to Houston, Texas. This is for an alleged ballot harvesting and voter fraud operation that — if the allegations prove to be true — dwarfs any election-related fraud we've seen anywhere so far this year.

    Two private investigators — one a former FBI agent, the other a former Houston police captain — filed sworn affidavits with the Texas Supreme Court as part of a class-action lawsuit against Harris County.

    This is a copy of the lawsuit and I want to quote directly from it, so you understand what the specific allegations are:

    Licensed Private Investigators... have been investigating ballot harvesting in Harris County for many months...
    The organization and operation of the illegal harvesting program is being used to commit fraud in the November 3, 2020 election...

    According to the investigators, witnesses have identified Harris County Commissioner Rodney Ellis... and Texas State Senator Borris Miles as leading the organization tasked with harvesting ballots. The investigators further state that witnesses have identified Houston businessman Gerald Womack and political consultant Dallas Jones as lieutenants working directly under Commissioner Ellis and Senator Miles.

    By the way, in September, Dallas Jones was hired by the Joe Biden campaign to be its Texas Political Director.

    This is a copy of the affidavit from one of the private investigators, Mark Aguirre. He says:

    I have in my possession video-taped interviews of witnesses attesting to the aforementioned people having groups of people completing thousands of absentee and mail-in ballots, including completing ballots for deceased individuals; illegally going into nursing homes, with the complicity of the nursing home staff, and filling out and forging the signatures of nursing home residents; signing up homeless individuals to vote using the ballot harvester's address then completing the ballot and forging the homeless individual's signature.

    And this is from the affidavit of the second private investigator. He says:

    [One] witness stated to me that an employee of Commissioner Ellis, Tyler James, has bragged that he could guarantee that the illegal ballot harvesting operation, with the help of mass mail-in ballots, could harvest 700,000 illegal ballots.

    Democrats successfully created chaos and now they're working overtime to change voting rules across the nation, taking advantage of friendly courts and judges to legislate from the bench. It's all about election insurance, tweaking the state voting systems to make Joe Biden's path to victory easier, including — in many states — rigging the ballot.

    While Big Tech, the Democrats and the media insist mail-in voting is safe and secure, it's already going off the rails in many states and uncovers the left-wing forces behind the massive litigation war being waged by Democrats to permanently change the way you vote.

    WATCH: Election HIJACKING: How the Left is ensuring your vote doesn't count

    Democrats are freaked out about Amy Coney Barrett joining the Supreme Court. But don't let their fretting fool you, because as Glenn Beck reveals, the Left is doing just fine in the federal and state courts. In fact, the Left is thriving.

    Tonight at 9 p.m. ET, 8 p.m. CT, Glenn shows how Democrats successfully created chaos with their massive push for mail-in voting. Now they're working overtime to change voting rules across the nation, taking advantage of friendly courts and judges to legislate from the bench. It's all about election insurance, tweaking the state voting systems to make Joe Biden's path to victory easier – including, in many states, rigging the ballot.

    While Big Tech, Democrats, and the media insist mail-in voting is trustworthy and there's nothing to see here, Glenn exposes how mail-in voting is already going off the rails in many states and uncovers the left-wing forces behind the massive litigation war being waged by Democrats to permanently change the way you vote.

    Because the content of this show is sure to set off the Big tech censors, the full episode will only be available on Blaze TV. Start your free trial to watch it tonight, and save $20 off a one-year subscription with code SAVEOURELECTION.

    Watch a preview of the show below:

    Want more from Glenn Beck?

    To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.