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tv   The Ed Show  MSNBC  September 13, 2013 2:00pm-3:01pm PDT

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next week. have a wonderful weekend. but don't go anywhere. coming up right now, "the ed show" with ed schultz. good evening americans, and welcome to "the ed show" live from new york. let's get to work tonight. ♪ read my lips. >> we are in the midst of a serious financial crisis. >> we are in the worst economic mess since the great depression. >> this particular piece is an interpretation of the stock market crash of 1929. >> and the federal government is responding with decisive action. >> in a minute, the crash comes, interest rates rise and the dance really takes off. ♪
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if you're a working american and you believe in recycled bush economic theory -- >> read my lips. >> fundamentals are of our economy are strong. >> no offense, but i think you need your head examined. >> you've got to stay focused on creating jobs and -- >> the republican congress in particular has blocked him every step of the way. >> you have such disdain for hard-working americans. >> it's called obstructionism. >> government is not the solution to our problem. government is the problem. ♪ >> good to have you with us tonight, folks. thanks for watching. i want to start with a number in a poll tonight, and i want to talk about the economy, because i just cannot believe this number. seriously. president obama's handling of the economy. only 45% of the american people think he's doing a good job on the economy. and 52% disapprove?
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you mean to tell me we've had 41 months of private-sector job growth? we've got a stock market that is absolutely going through the roof? we've got record profits? people's 401(k)'s are in the market and that's the best people think -- you know what that is? that is a lot of negative campaigning in the media. that is the republican conservative effect on how we think as a country. here's the man, the republicans always love to quote. here is the man they genuflect to. here is the man they point to for direction, mr. trickle-down economics, ronald reagan. brought the philosophy if the wealthy people don't pay much in taxes, our job market is going to go nuts. ronald reagan said we've got to deregulate wall street. ronald reagan campaigned hard against medicare. and how many lives has medicare saved and the quality of life for people in their later years has been just enhanced
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dramatically? reagan was against all of that. and we have put up with a set of basics dealing with reagan -- reagan's economic philosophy for the past 35 years. so where are we right now? it amazes me that people don't love obama. it amazes me that the conservatives who are seeing the stock market go through the roof in dealing with a president who has pretty much been hands-off on wall street, it just amazes me he can't get above 50% when it comes to a favorable view of the economy. well, you see, reaganonmikes sent our nation into the worst financial crisis since the great depression. it all started with lehman brothers. remember them? lehman brothers.
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weren't they around for a long time? gosh, they went through two world wars. they went through the great depression. they go all the way back to the civil war. lehman brothers! they couldn't make it through the market crash of 2008. they couldn't hang in there. the collapse of this firm panicked everybody on wall street to main street across america. there was a ripple effect. and it eventually was felt around the world. now, the following months were devastating. 2.6 million jobs were lost in 2008 alone. president obama inherited an economy that was tanking. 750,000 jobs a month. the stock market hit record lows. record lows. the housing market was in collapse. big banks were getting bailed out and begging for your tax money. and, of course, we had to save the automobile industry, which all the republicans were against. and we're still dealing with a lot of this aftermath and a lot of this mess on wall street today, because we don't have the
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regulation that we need. this could be why new polling shows only 14% of americans have a favorable view of wall street. the practices of wall street only worsen the problem of income inequality in this country. now in 2012, the top 1% of americans earned 1/5 of the country's household income. the rich were hurt by the 2008 collapse, no doubt about it. but they weren't totally broke. and they have recovered more than ever. they have more than recovered. huge profits. from 2009 to 2012, income for the top 1% threw by 31%. no one else saw income rise. everybody else saw income rise by only .4%. now, the numbers are staggering. this is the middle class right here. these are the working folks of america. these are the wealthy with the disposable income that when the market was down in 2009, you
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know what they did? they invested. they believed. but you know, the key is, they had the money to do it! meanwhile, the stock market right now is at all-time highs. the dow jones has been just sitting above that massive 15,000 mark for most of the year. investment banks and mutual funds were on a roll in this country. in fact, let me take you back to 2009. march 6, 2009. the market was 6,443.27. if my memory serves me correctly, bank of america was trading at i think $3.48 a share and today it's at $14.49. now, think about those numbers. that's about four times what it was back then. do you think any rich people back in march of 2009 said, well, you know, bank of america is really down right now. but i believe in the system, and i'm going to throw a half million dollars at it. they've got over $2 million profit on that deal. the key is, they had the money to do it. but middle class americans, they
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didn't have a chance to share in this economy. because disposable income for middle class americans has been dwindling over the last four or five years. it's a shame the middle class is suffering. we've shown you this vulture chart time and time again on "the ed show." when reagan got after it back in the early '80s, he went after labor, he went after organized labor, he went after middle class. he thought if you give the tax cuts to the wealthy, it's all going to trickle down. there's a josi whales movie with clint eastwood. he said don't urinate down my back and telling me it's raining. although he used the other word. middle class wages have stayed the same for the past 30 years, while the top 1% have seen it go through the roof. maybe the polling that i showed you at the beginning of this is just too many folks down here that aren't believing in it. and it's not obama's fault. no. this was all set in play long before obama.
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he just had to come in, this president of the united states, and save a bunch of stuff. but there is hope, if you look at the state of california. >> right now for the next four years, we're talking about a balanced budget, we're talking about living within our means. this is new. this is a breakthrough. >> yeah, this is new, this is a breakthrough. let's talk about this big old liberal from yesteryear, jerry brown, who wants to come back with some progressive policies in liberalism and finance. that's right, jerry brown, the governor of california on a roll. when brown took office, you know what he faced, just like every other governor in america? a $25 billion budget shortfall, because arnold didn't know how to run the budget. so what did he do? he came in and did exactly the opposite of ronald reagan. he decided to raise taxes on the wealthy, but wait a minute. there was this thing called proposition 30 that raised taxes on the people making over
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$250,000 a year by 1%. people making between 300 and $500,000 saw it go up 2%. and income earners over a half million dollars saw it go up 3% on the increase. it was truly a progressive tax policy, proposition 30, in california, that the people voted on. reaganomics. ironically, from the state where ronny came from, being rejected by its own residents. they've had enough of that stuff. tax policy at its finest. the governor plans to transfer money to where? this is almost unheard. he's going to transfer money to poor school districts? and he's going to expand health care for the poor with obamacare? brown's budget has a projected what? surplus? nah. yeah. california has a projected surplus of $1 billion. and just this week, california's legislature voted to raise the
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minimum wage $10 an hour by 2016. think about that. if we had this across the country, it would take half the people living in poverty out of poverty. i think california is a microcosm for what this country can do. we could pay down the deficit, we could increase education funding, we could increase health care spending, and we could put this country back on track. raising the minimum wage, bringing that chart closer together, giving the middle class wage earners of this country a break, letting them share in this stock market economy. ooh, we would be on a roll. we would be paying debt down big time, and we would be creating services for people, and it would be a better america and nobody would be left behind. and ronald reagan's economy. this is a fight for the country.
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you either believe everybody needs a fair shake at a good economy or just a few. it's about choosing up sides politically. unfortunately, that's where we are. doesn't mean you don't like your next door neighbor. doesn't mean you don't root for a certain team. doesn't mean you don't want to see your best buddy get a great job. but you know what, in the long haul, over the next 30 years, show me that vulture chart again, guys. what confidence do you have that on that vulture chart, that this line right here automatically is going to start going this way? what's the formula for that? well, you've got to start somewhere. you start with a living wage. do you think that ten bucks an hour for wage earners in this country is going to hurt these vultures up here? hell no. it's not going to hurt them a bit. it's going to be a level of fairness that's finally into our economy. that's what not only 2014 is going to be about.
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that's what 2016 is going to be about. that's what 2018 is going to be about. it's going to take a number of election cycles to turn that chart around. get your cell phones out. i want to know what you think. tonight's question. does president obama, does he get enough credit for saving the economy? text a for yes, b for no to 67622. you can always go to our blog at result later in the show. for more, i'm joined by david k. johnson, pulitzer prize-winning journalist and author of "the fine print." david, great to have you with us tonight. >> glad to be here. >> 45% of people approve of the way president obama is handling the economy, compared to 52% who don't. 14% have a positive view of wall street, compared to 42% with a negative view. what's your take on these numbers, considering the fact the market was where it was in march of 2009 and where it is right now? >> well, you've got to hand it
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to the oligarchs. they have done a very good job of selling us on the view they want to have, and keeping us focused away from the things they don't want us to think about, like a decent wage. and 20 million people who don't have full-time jobs and a lot of them not having those jobs. >> it is absolutely staggering, some of the numbers, when you see wall street. they have gone again unregulated. they have come back on fire. but it's been an economy for the wealthy. middle class families and wage earners have not been able to share in the profit of wall street, because disposable income has not been there. your take on that. >> well, let me give you a couple numbers, ed, from this study that just came out from professor sayyez. in 2012, the average income of the bottom 90% of us, 90%, fell back to the level of 1966. it's actually a little below
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1966. but the top 1% of the top 1%, that's the koch brothers, mitt romney, warren buffett, they're up from $6 million a year to $31 million a year, a gain of $25 million a year per household. all the gains are going to the top. and unless we get a change of the congress, it's just going to continue that way, because it's the rules that are doing this, it's not the brilliant economic activity of those at the top. >> you know, my dad used to say it takes money to buy whiskey. i mean, what is happening in california. it is going to give wage earners a chance to recycle money back into the economy, and for them to have at least a little bit better chance at life. is the california model going to work? taxing the wealthy, raising the minimum wage to $10 an hour? >> well, people who make their money in california are not going to move to wyoming or
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texas. they're going to stay in california. that's because they're making their money there and they like living in california. and the marginal cost of that change isn't going to hurt them. but furthermore, ed, the year that the top 1% of the top 1% have their peak was at the end of the clinton administration, when poverty was going away quickly, wages were rising overall. the bottom 90% of americans were making 20% more money than they're making now. the people at the top need to have consumers. and if their incomes are inadequate, the people at the top are going to have less than the enormous amount they already have. >> david k. johnson, great to have you tonight. thanks for your time. remember to answer tonight's question at the bottom of the screen. share your thoughts on twitter at ed show and facebook. we want to know what you think. i want to follow up with this comment. elections have consequences. the democrats have taken over the assembly and the senate in california and also with a
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liberal governor. they have decided to do something about their economy. and they have wiped out this debt by raising the taxes on the wealthy, and now they're going to raise the minimum wage. they're going to invest in things that have been cut. now if you look at some other places around the country where we talk about these six radical governors quite often, what have they done? they have gone the opposite direction, and they are running deficits and they are running deficits on projected job creation. and they're denying obamacare in many places, which is hurting a lot of people. more on that coming up. also tonight, rush limbaugh on the redskins. and later, is god a republican? that's what michelle bachmann thinks. stay with us. ♪ [ male announcer ] when it comes to doing what you love, more is better. that's why we designed the all-new nissan versa note, with more technology, to get you into, and out of, tight spots.
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time now for the trenders, the "ed show" social media nation. we're gathering numbers, aren't we? you folks have decided and we are reporting. here are today's top trenders voted on by you. >> i'm going give you a little bit too much information tonight. the number three trender, the ed shoe. i found this store down in soho. and i just love these shoes. ♪ i can wear them kind of dressy, they're comfortable and casual. it's all rolled into one. i bought about ten pairs of these things. how about i buy another pair of shoes like these. i bareded my soul to make a point. it's like an old shoe. it's like an old shoe to oppose obama on everything. >> who throws a shoe, honestly? >> our number two trender. sensitive skin.
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♪ to the redskin >> upstate new york, united nation, asking for the redskins to remove and change their name. >> the nfl looks into a name change. >> the team name is part of their history and tradition. we have to listen. if one person is offended, we have to listen. >> but rush doesn't get all the fuss. >> bubbling up underneath the surface for a number of years. never really been taken seriously. but it's been out there. who is bothered by this? i mean, every time they have a game, it's polled. who is offended? this is a manufactured controversy. manufactured by the left. >> you just don't get it, do you? >> and today's top trender. the unbroken record. >> let's repeal this failure. >> repeal every single word of obamacare. >> we will continue to do everything we can to repeal, dismantle and defund obamacare. >> it's going to be a disaster for the country.
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>> the far right continues its fight against obamacare. >> the house has taken a stand numerous times on its opinion of obamacare. >> republicans have already voted 40 times to prevent 30 millions from gaining health care. >> republicans control the house. we should use that leverage to try to make obamacare less bad. >> fringe republicans are running out of all kinds of options to kill this landmark legislation. >> i want to repeal the law of the land. is that clear? ♪ ♪ we won't stop >> well, let's tell you what's going on around the country. joining me tonight is annette, chair of the democratic party. in florida, you won't believe this folks, governor rick scott is doing his very best to block obamacare at all costs. the florida department of health issued a directive to its employees this week, barring navigators from health department buildings. now, navigators, what they are
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is outreach workers who are sent to help residents sign up for the insurance through the affordable care act health insurance marketplace, which, of course, begins on october 1st, we're just a few weeks away. it's obamacare. they're actually shutting these people out, these navigators out. this is a law that has been passed. the department says the navigator's program raises privacy concerns for consumers. that is hogwash. but this is something that rick scott, governor of florida, has also mentioned in his push back to the program. according to the united states census bureau, almost 4 million floridians lack health insurance. annette, good to have you with us tonight. this is a big battle in florida, isn't it? >> unfortunately, yes. and earlier you were saying elections have consequences. in florida, we have a big consequence with governor locate loco, rick scott. he has decided we cannot have health care at any cost. he doesn't care about us, the people who live here and who
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need this health insurance. by the way, of those 4 million you mentioned that do not have insurance, almost over a million are hispanics. so what is he thinking? he is truly, truly insane. >> what is the reaction of the people in florida on this? and what's the recourse to do something about it? >> well, first of all, the reaction is why? why keep us from doing this? you've been telling us, they've been telling us, the republicans, that this is a terrible law. that this is terrible for you. that it doesn't do any good. and yet now that it's about to be implemented and we have all these people without insurance, they want to keep you from getting it. so at any cost, they want to try to do this. we're just trying to educate the public, and let them know that you can actually get health insurance, you can find out information, and i -- the myths are all over the place. and they're doing that also on spanish media, trying to make sure people don't understand what's going on and don't get it. and what's really upsetting is,
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they don't have any replacement. it's like, okay, so tell me what's your plan. what's your idea to cover all these people? you didn't get elected to just oppose everything. you got elected to work together and to come up with solutions for the people. >> annette, you touched on something. they are hitting demographic radio. they are hitting all the different demographics to knock down obamacare. they're working on spanish radio and spanish community, hispanic community. to badmouth -- badmouth obamacare and now the governor is holding out the navigators, workers that will help people sign up to make sure they have the proper information. is that what's happening? >> that's absolutely what's happening. so just stopping the people at -- from getting the application with the navigators and from getting the information is not enough. >> well turn it to a negative. that's their mission. if they can -- if they can turn it to a negative, if you can go back to people a year from now
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saying i didn't sign up for obamacare, i didn't know anything about it, it's really limiting access to people to health care. and they're using government resources to do it. >> absolutely. and that's why i call him governor loco. we are stuck with this man, and we have got to get rid of rick scott in florida, because the consequences are huge. and it's costing us, those of us who have insurance, those of us who pay taxes, everybody who doesn't have insurance, guess where they end up, he emergency room. >> all right. >> so we cannot continue this way. >> what's the congressional reaction? debbie wasserman schultz, allen grayson, not afraid to tell like it is. what's the congressional reaction? >> well, unfortunately, the republicans are still talking that they're going to vote, once again, like 40 times was not enough, they want to vote to repeal obamacare. and shut down the government if they have to. that's insane. they cannot do that, because we all know that nothing is going to happen if they vote one more
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time to repeal obamacare. but if they shut down the government, then they're really hurting the people. so i don't understand this mentality of the republicans, but the democrats are fighting tooth and nail, trying to make sure that people understand what the real obamacare means, and how much it means to all of us. and you know, it makes you wonder. if the republicans are trying so hard to stop you from getting it, it must be because they're afraid. >> no question about that. annette, great to have you on "the ed show." thank you so much. coming up, would god side with the republican party? michele bachmann seems to think so. we'll break it down with our rapid response panel. still ahead, we bid a fond farewell to our favorite fox and friends friend, gretchen carlson. but next, i'm taking your questions, ask ed live, just ahead here on msnbc. stay with us. did you know, your eyes can lose vital nutrients as you age?
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welcome back to "the ed show." we love hearing from our viewers, love this segment, love your questions. tonight in our ask ed live segment, our first question from larry coleman. is it possible to unbrain wash a fox propaganda channel viewer? ooh, i'll tell you what. this is almost an exact science. it takes hours and hours of truth counseling and a hell of a lot of beer and sometimes that doesn't even work. our next question. is from a man who goes by the real wolf dog. he says, hey, big ed, puti considers himself an outdoorsman like you. do you think you can take him in a fishing contest? let me tell you this, real dog. show him the picture. i catch fish bigger than puti. stick around. rapid response panel is next. i'm seema moda with your market wrap.
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the s&p 500 rose 4, and the tech-heavy nasdaq up 6. retail sales increased .2% last month as more people bought electronics, cars and furniture. but the increase was less than expected. producer prices rose 3% in august after a remaining flat in july. and lastly, higher interest rates caused consumer sentiment to drop to 76.8, the lowest level in five months. that's it from cnbc, first in business worldwide. when did you know that grandma was the one?
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welcome back to "the ed show." this is a story i just can't get away from this week. it happened a few days ago, but i've got to do it. apparently, the idea of hillary clinton running for president in 2016 is so daunting that congresswoman michele bachmann is looking for some help from a higher power.
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>> fast forwarding to 2016 for a minute, michelle, are you one of those who just assumes that secretary hillary clinton will be coronated? >> i don't at all. because i look at the story of david and goliath. all david needed was one smooth stone to fell the giant. it wasn't the stone, it wasn't david. it was the strong right arm of a holy god. and, again, i believe that it's in some ways up to us if we repent, if we cry out to god, we have no idea what the lord got will do for us in 2016. >> the good 'ole cry out and repent strategy. forget fund-raising, embrace better policies. let me tell you, this isn't the first time michele bachmann has taken the big guy upstairs to be on her side. you see, according to michelle, god called on her to run for congress. when she got there, god told bachmann to introduce a constitutional amendment banning same-sex marriage in minnesota. by the way, minnesota recently became the 13th state to recognize same-sex marriages and
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end discrimination. according to bachmann, god was going to perform a miracle to repeal obamacare. 41 attempts by the house republicans to repeal or defend -- defund obamacare. well, it has failed. god told bachmann to run for higher office, and then god told her to -- retire! still think god is a republican? joining me now for our rapid response panel, stephanie miller, host of the "stephanie miller show" and host of the "ring of fire" radio show. i have to tell you, on a serious note, this is a gross misinterpretation of the christian faith. let's just get that out there. now let's talk about stephanie, how crazy she actually is. to think this stuff. >> well, you know, ed, i don't know if god is a republican, but i know if god was a comedian, michele bachmann would be president. that's for sure. just -- you think back at just one of those campaign appearances, ed, just hi!
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thanks for meeting me here at plymouth rock in south carolina, which, of course, is where john wayne gacy killed elvis on the toilet. oh, it was just comedy gold. the entire campaign. >> but this pleads to a commentary about phony christians. they use their faith where they can, when they can, and they just throw it out there. i don't know, does she want to stone hillary clinton? i don't know what the message was in that sound bite. >> one thing we can be sure of, jesus did raise lazareth from the dead, but not likely he would be able to raise michelle bachmann's stone cold dead political career. conservative christians like these frauds we see emerging from the fringe of the republican party, with leaders like bachmann, they do huge damage to decency and the simple, pure idea how we ought
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to treat each other. it was simple. if you really want to extrapolate what she's saying, she's saying if you're not republican, god is not on your side. >> exactly. >> if you don't agree with me, god is not on your side. what jesus had to say was simple. feed the hungry, take care of the ill. your neighbors who are sick. don't judge your neighbors, give shelter to the homeless. these are easy things to understand. and they've turned all that on their head to make it look in some way she really my belief, ed, she is talking to god. because most of the time she is just a little bit delusional. >> mike, i'm curious. you're a lawyer. i wonder if god had anything to do with the ethics committee investigating her presidential run. you think god had anything to do with that, or no? >> when you know the facts of that story, she's going to need a lot of prayer, i can assure you of that. this is going to get real ugly before it's over. >> stephanie, what is this god told me strategy? it hasn't worked for bachmann in the past. why does she keep going there? >> as we recall, the last president who said god wanted me
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to be president was george bush. and if you counted the votes, god wanted al gore to be president, as it turned out. you know this, you're a sportsman. god is way too busy for politics. he cares more about who wins football games or grammys. >> exactly. i don't know what happened last sunday, but it did. >> yeah. >> you know, there are some people out there that are going to think that god is a republican. i mean, some of these folks out there are absolutely worship the words some of these lawmakers say. and i think that's why she keeps going there. but it's such a gross misinterpretation. i think it really has stained the republican party and the mainstream. your thoughts, mike. >> well, what happened with the republican southern strategy, the whole idea was to somehow make southerners believe that the republicans are the party of god. the bible belt was the same -- was the place that lee atwater built his strength, ed. and it hasn't really changed much since. there was a time where there's kind of been an ebb and flow
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where we've had people with a little bit of rational insight into what mixing politics and religion does to both politics and religion. they understand that if you have a political party that's associated with the religious party, as each one rises, it rises. but as each one falls, it falls, as well. lee atwater, thought he could drive a heart through the democratic party in the south by doing that. and you know what, he accomplished it. but the fringe is still spinning off and michele bachmann represents that fringe. and there is a kickback taking place somewhat, even in the south today. >> i find it amazing, stephanie, that she quotes a biblical story, david and goliath and equates it to hillary clinton. your thoughts on that. >> yeah, they're very selective, aren't they, with their bible quoting. the thing that jesus talked most about, ed, of course, was helping the poor. which is the thing the republican party is the least interested in, of anything. they spend a lot of time, as you mention, on things jesus never said anything about, like homosexuality.
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i mean, it really is -- it's incredible. they're very, very -- it's like a chinese menu, the way they pick and choose the bible phrases. >> let's turn to syria, if we can. how has the president handled this? has he gained favor with the american people, going to congress? mike the whole scenario we have seen play out in recent days. has this been a foreign policy upside for the president? >> i don't think it has. i think kerry is causing more harm to obama than obama is causing to himself. kerry -- his big words, his big action, his need to move so quickly during a time when putin has set him up in a very smart way, putin set him up, and now he has -- he hasker re reacting too quickly. and trying to avoid diplomacy. that's what's coming through here. kerry is just signaling, we're not interested in further diplomacy. i think kerry is doing him harm, as this whole serious story unfolds. >> really? you don't think kerry is really
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an honest broker, looking for a diplomatic solution? >> he may be. he's not doing it the right way, ed. he is being outmaneuvered by -- by the way, putin has set this entire thing up. it wasn't smart of kerry to be out front and on stage saying we have to do this now, immediately, we want your chemical weapons now. the truth is diplomacy is going to take more time and i just think this whole rush to action is not helping obama. i may be wrong. but i think as it plays itself out, i think we're going to see it was a mistake. >> stephanie. >> i could not disagree more, ed. i mean, to think that this kind of high-level diplomacy -- you know, there are a bunch of mr. mcgoes bumbling through it. he scheduled his press conference right after he talked to putin. interesting timing, right? do you really think this was some gaffe by john kerry? i think the president has played this brilliantly. and i think that, you know, to pretend they somehow at this level stumbled no this, if you
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read what they have been doing on this for two years, i think it's ridiculous. and i love that assad is making demands now like he wants israel to give up their nuclear weapons. really? you think you're in a position? we have a template, ed, for making peace through strength. and guess where it was? in iraq. that's why saddam had no weapons of mass destruction, because it worked. they disarmed him through sanctions through threat of military force back in 1991. >> all right. we'll see how it plays out. stephanie miller. mike pap antonio. republican policies rock the city of detroit. next, what the motor city really needs to get its engines started again. clay. mom? come in here. come in where? welcome to my mom cave. wow. sit down. you need some campbell's chunky soup before today's big game, new chunky cheeseburger. mmm. i love cheeseburgers. i know you do. when did you get this place?
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>> i just wanted to see how much of an insult it was to be called a ignore maimous. it's an ignorant lawyer. we all know barack obama is a lawyer. >> and now you push it. that's kind of twerking. go forward. >> it all comes down to that three-letter word. called jobs, which is actually a four-letter word. i was wondering to myself, why we are having so many czars/kings now in america. ♪ i am tolerant. i'm all for free speech and free rights, just not on december 25th. >> that's why our show is so successful. you tell me what you think. a lot of it we sort of make up. wivy or wi-fi? >> wi-fi. >> in times of crisis, making these executive decisions, just like our job, it's the same as being president of the united states. ♪ i'm all out of love i'm so lost without you ♪ >> no, they don't make stuff up.
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liberals an, let's get back to work. america needs to pay attention and stay vocal. so here's a look at the top three stories ahead next week in fast forward. coming in at number three, salsa at the white house.
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that's what i've been telling him i'm a better dancer. >> on monday, the first lady will host a celebration of hispanic music for heritage month. >> the way i see it, mika sa is sue casa. >> fast forward to number two. canal cruise. >> i wish you could travel around the world with me, 600,000 miles so far just since vice president. >> the vp heads south of the border to discuss expansion plans for the panama canal. >> you boys like mexico? whoo! >> and our number one story to watch, detroit's debt talks. >> we need to resolve this issue with city government in detroit because that's the last obstacle to saying now we can grow detroit. >> and tuesday a federal judge will begin to mediate negotiations between the city of detroit and its labor unions. >> everybody in this city shares the same dream of the detroit we
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want. >> joining me tonight, mayor of lansing michigan, verge pinare. you ran against governor snyder. you're still is the mayor of lansing, michigan. in an interview earlier this week with reuters, governor snyders at midded that the detroit bankruptcy has had a ripple effect and affected other cities in the state of michigan when it comes to the municipal bond market. what are you seeing, and is this just a ripple effect because of what has unfolded in detroit? what has been thrown on these folks? >> well, here's a shocker, ed. wall street being unfair to main street. amazing, isn't it? wait, we've heard this story before. this is what wall street is doing in punishing all cities throughout michigan is akin to your insurance company raising your rates if your neighbor's house catches on fire. so it is an issue. it's an issue of dire concern
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for all cities, all municipalities in michigan and perhaps around the country. these are the same folks that left michigan for dead awhile ago, ed. these are the folks that said manufacturing is dead. these are the folks that moved manufacturing overseas and left us for dead, moved out of the state, dried up our credit, but we came roaring back. the auto industry is back. michigan is back. hopefully, detroit will be back. right now, they are going through this terrible situation. but the reality is, is doesn't affect other cities. it shouldn't affect other cities but that's how wall street -- in the head's i win, tails you lose world of wall street, they always make out. they'll make out in detroit, ed, because the vultures will swoop in, the turn around management experts and suck millions out of detroit, even while trying to get them back on their feet. >> when you take a look at the aub industry, obviously it turned around but did it with government help. do you think government help
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should have come into detroit to give them a chance to turn it around instead of letting the priftising vultures come in and take over? >> that's a very good question, ed. when people hear the word bailout, they think bailout. we don't want that. this is just bail out of wall street. you think of's going to get a haircut? wall street is lining up ahead of the pensioners, the hard working policemen and firemen, they want those folks to suffer, but wall street doesn't intend to suffer, they intend to take it out of their hides. the public is paying one way or another. there are public investments necessary in our cities. it's not just in detroit. all around michigan did, our roads are crumbling, our bridges are failing, our sews are failing. we need public investment in this state. it hasn't happened yet. we've got a tea party dominate legislature and problems in michigan. they're beyond the city of
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detroit. i've got a aa credit rating in lansing and we're growing jobs. i'm proud of that. but the entire state and my residents are getting sick of the roads. off enough money to fix the roads. there has to be public investment. when there's public investment, private investment always follows. >> verge, is the state watching this? because detroit is considering ending city paid health insurance for city employees and pushing them into the exchanges and giving them nowhere near the guarantee they had before and then of course, reducing their pension and they don't know what that's going to be. that's up to a judge, as well as to whether he's going to get a city financial manager who is not elected make some crucial decisions which affects people's lives. >> we can only hope that there's a good fair judge that looks out for the regular guy, the regular man and woman who has worked hard, who has toiled in the field and earned that pension and put them first ahead of the wall street vultures.
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but you know, maybe the governor underestimated the impact of this. you know, it's a big issue as far as how it's going to end up. who knows? but again, the government role, we've talked about before. our cities in michigan, too many them are the hole in the doughnut instead the hub of the wheel. the cities are where the jobs are. when our cities thrive, our state's going to thrive. we have to invest in people putting people first. that means investing in our cities. >> we are seeing two different states operate oppositely. you've seen california, what they have done. michigan going the opposite direction. but in your city is, two rundown buildings in the old town area of lansing, michigan, are going to undergo $3 million renovation in october. how are you getting this done, quickly? >> well, i'll tell you, one way is we're using incentives. there's a brownfield program. when you've got an old building, there are historic credits
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available. you have to have private sector dollars but some of these would be underwater. so there has to be public investment and creative strategies. >> virg bernero, keep up the fight. that is "the ed show." i'm ed schultz. "politics nation" starts right now. >> yes, ed, thank you. thanks to you for tuning in. toot's lead, america's comeback. five years ago this sunday at the end of the bush administration, financial panic swept across wall street. sending the nation into economic free fall. the lehman brothers bank filed for bankruptcy triggering fears of a second great depression. >> what's been called the worst financial crisis in modern times, certainly the largest financial disaster in decades in this country. >> this is one of the ugliest days i have seen in my career. >> the dow jones industrial average sank over 500


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