Liz-Vision
  • October 5, 2008 03:12 PM EDT by Liz Claman

    Our SMART Viewers

    Gang,

      It's been a harrowing 2 and a half weeks and I'm still shell (and sticker!!) shocked---$700 BILLION??-- by all that's come to pass.  Just to give you the inside story, for me it all started with Lehman Brothers filing for bankruptcy.  Folks, Friday September 19th, I was literally swinging from the Beverly Hills city limits sign shooting my "Opportunity in America: My Hometown of Beverly Hills" story when my cell phone rang.  It was a source of mine telling me that Lehman was hanging by a thread that would soon snap.  The source told me that if Lehman didn't find a cash infusion or partner over the weekend (unlikely), then pre-packaged bankruptcy would be staring them in the face come Monday.  I dropped to the grass, told my crew I had to make some phone calls and rushed to the car where I chased down a couple of other sources, got the story confirmed, called into "Countdown to the Closing Bell" (which Brian Sullivan was anchoring for me) and went with the news. 

    I took no joy in breaking the news.  You know from this blog that I actually believed the Lehman Bros. would pull a rabbit out of the hat and surprise us all.  Clearly I was wrong.  CEO Dick Fuld's window has slammed shut right on his fingers.  Closed, never to open again.  I went back to playing Tarzan on the Beverly Hills sign (which you'll all see Friday October 17th barring any new financial dramas) and finished my shoot with somewhat of a heavy heart.  

    I had NO IDEA what Lehman's failure would trigger.

    Since then, it's been a focused push by our team at Fox Business to cover each and every single development of this monster of a story.  Some of us hopped on planes, others stayed up all night waiting for comment from various Congressional members, others ran to Times Square to get comments from regular folk who's 401k's and pensions were shrinking by the minute.  There's been no breakfast except coffee from our green room, and lunch, but only in the form of high-protein Ensure drinks (vanilla's the best).  I ran from my own shows (which we quickly moved to the New York Stock Exchange) to the O'Reilly Factor, to syndicated radio programs across the nation, to CBS News' The Early Show to the "Mike and Juliet Show" and back again just to tell people what was going on with each new development.  Mike and Juliet have a live audience and at one point, I turned to them and said something like, "This is YOUR money. Don't you want answers??" and the entire audience cheered.  I got the blogosphere version of that with your comments.  I was just spending some of my Sunday reading your replies to my "And What Do YOU Think?" blog from last week and I am so bowled over by your responses.  They are so thoughtful and smart and ....ANGRY.  I completely get that emotion, especially when you look at the price-tag of this bill-that's-now-a-law.

    Thank you SO much for taking the time to comment.  Knowing where our viewers stand on this is crucial. We're in this for you.  This is FAR from over, I'm sorry to say.  But we'll do our fighting best to give you the proper perspective you won't get anywhere else.  I'm so proud of our team but I'm even more proud that our viewers are with us.  THANK YOU. 

    See you tomorrow,

    Liz

B Scott

Thank you for the smart reader designation...Regarding the Glenn Beck Show being essentially halted for six months,this smart reader can read between the lines.The readers comments overwhelmingly agree that the elite, whether gov,t or liberal media appear to be liars and crooks,then to see one of the few honest media outsiders silenced at this critical moment, all us smart readers can figure it out, this may well be the last presidential "election" in the USA.

October 17, 2008 at 11:59 pm

Pat Kalup

All, Two thoughts I have on the current stock market decline; energy cost and economic terrorism. Firstly, oil prices increased faster than the economy could absorb the cost. Secondly, a concerted effort tamper with the economy for political change. I hear that 95% of the mortagages are current, if this is true, I do not feel that Wall Street should not have declined so much. The reason must be elsewhere. Any other thoughts out there? Thanks Liz for the forum.

October 11, 2008 at 8:53 pm

Steven Eisenpreis

Great story, Liz, and thanks for the compliment! I've followed Lehman's implosion since the beginning, (When I saw David atop FOX NEWS 2 in front of the then-Lehman building, I showed him my LG Flare Virgin Mobile phone which can receive FoxBiz updates, and I told him I was expecting more positive updates from your Fearless Leader, Neil Cavuto. Although he hasn't been reporting good news in most of his updates, he's still been doing a great job, as have the rest of the FoxBiz staff. Although the Barclays Eagle now rules Lehman's roost, I agree with most of your guests that better days ARE coming. Maybe not immediately, but they ARE coming. Keep up the TERRIFIC work! At least YOUR stock is rising! Excelsior! Steve

October 6, 2008 at 8:59 pm

chuck

Liz wht Dick Fuld did with Lehman Brothers is a news story onto itself. U know so far there hasn't been any sort of news coverage on Fuld's activities. Did he cheat on his employees? pension holders too? Now his story deserves to be told no matter how bad. Arrogont executives like him need to be exposed for they really are. Expose Fuld for the company's shareholders sake. I encourage you too:) I want to say I learned a lot from the news coverage this past two weeks too. Drop me an email sometime ok? U can read other comments I wrote too in the Glick Report. The present: THE UNDISCOVERED COUNTRY-WILLIAM SHAKESPEARE.

October 6, 2008 at 4:19 pm

Eric W

Liz: Not many on the Fox business team were as vocal and anti-bailout as Cody. He was the only one literally standing on top of his desk (does he have a desk?) yelling at us not to do it. Many others sheepishly agreed that the bailout was not good, but it was for the best. The dopes in Congress have done more financial damage to this country than the terrorists of 9/11.

October 6, 2008 at 7:04 am

Randy Gimenez

Liz, Are we buying, by virtue of this bailout, actual mortgage-backed securities? Or are we going to be buying the CDS's, which is apparently the major problem. The bill, which I've read, seems to be extremely flexible in what the government can choose to buy.

October 5, 2008 at 9:31 pm

about this blog

  • Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.

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