Watch The Coulter Factor On Fox News from Sat, 4 Oct 2008 as Ann Coulter gives her two cents on the bailout.
This transcript was automatically generated with speech-to-text technology and may not be 100% accurate.
NEAL CAVUTO: [play from 0:00]" And again, Ann Coulter has, as well,
she says those who are pointing the fingers at the White House,
should first take a good look in the mirror,
and to a Clinton era push
to grant mortgages to the poor and minorities.
And those comments got her in a heap of trouble.
She's here to explain.
Ann, explain. Good to have you."
ANN COULTER:(laughing) [play from 0:16] "I, I,
I have say, I
-- I cover
the mainstream media's mendaciousness for a living.
and I have never seen anything as crazy as this.
-- Uhmmm, I mean,
which political party is more likely to demands that, that,
that banks ignore normal business practices.
in order to pursue social justice
and to give bad loans to bad, -- or
I guess the loans are fine
but to borrowers who aren't qualified.
Of course this was the Democrats
and it's not as if this was hidden, uhmm,
until it collapsed.
It used to be to New York Times and the LA times were bragging about
uhmm, how so many of the poor and minorities were getting mo-- mortgage is now --
You have Andrew Cuomo now, as, as Clinton's head of hud.
uhmm, demanding that that more mortgages go to borrowers who otherwise wouldn't be qualified and, and,
and literally the Fed is asking banks to start looking at sources of income like welfare payments and unemployment benefits.
Uhmm, which works
as long as the housing --
your house keeps getting more valuable every year.
then when the loan goes bad --"
NEAL CAVUTO:[play from 1:20]" Everything goes belly up.
I know when you said that
and I raised a similar issue here.
We immediately got the label, "oh, you're racist and all of that."
ANN COULTER:[play from 1:28] "Except, if I could just say
I don't even -- know,
I have a feeling that,
like -- like.
Like AIDS -- that was one
one of others --
where you get
you have one face of who the alleged victim is
I mean once you drop lending standards.
anybody can jump in.
I suspect and nobody knows
that a lot of these mortgages going belly up are from speculators
they're rich yuppies who wanted to make an easy buck
we don't know what the real face of this is."
NEAL CAVUTO:[play from 1:52] "Actually, you're right about that --
forgetting the early statistics in
and, so this was not a comment that you made, or I made that this was uh, a racial issue
so what we're saying is
there was an aggressive push in the Clinton administration
to widen out the pool
so that every one who wanted a home could get a home
where in the past, it use to be.
everyone who was qualified for home could get a home.
ANN COULTER: "Right you need to have a job."
NEAL CAVUTO: "Right, so this was not a racial statement
what we're saying is
that there was an aggressive type of a
a change in, in approach. That went beyond races to,
to government saying that everyone had this right
ANN COULTER: "Right"
NEAL CAVUTO: "And, and that was a fundamental shift in thinking
that yes, homeownership is a goal.
It is not an edict."
ANN COULTER: [play from 2:32] "Right, right,
and one thing
I mean it's
it's
it's
it's part of the entire liberal mindset
that to be middle class.
Uhmm, well first you need a house.
Uhmm, and then you need money
and then the job will come.
Ha. No, no, no!
Youstart with the job That's what makes you middle class.
The idea of, you know, uhmm,
waking up to an alarm clock and showing up at work.
No, that was pushed by the wayside, and --
NEAL CAVUTO: "Tell my daughter about the alarm clock thing."
ANN COULTER:(laughing)
NEAL CAVUTO: "Look, I know what you're saying, Ann.
My, my big thing with this now is that the era of personal responsibility is gone
and I --, like you have said,
there's certainly enough blame to go around here but.
But, when we mask it and say--
I know nothing.
ANN COULTER: "Right"
NEAL CAVUTO: "I saw nothing."
ANN COULTER: "Right"
NEAL CAVUTO: "Come on."
ANN COULTER: "Right"
NEAL CAVUTO: "I mean now, in retrospect, of course, hind sight is always 20-20, but the fact of the matter is --"
ANN COULTER: "But it isn't --"
NEAL CAVUTO: "-- to give the White House its due here,
very early on, it --"
ANN COULTER: "Yes"
NEAL CAVUTO: "-- it warned about the practices of Fanny and Freddy.
ANN COULTER: "Yes, yes, yes."
NEAL CAVUTO: "It had said that this type of aggressive lending approach
had its risk.
It, too, wanted to change FHA guidelines that had made it
almost too tempting and easy."
ANN COULTER: "Yes. and they were --"
NEAL CAVUTO: " -- to get a home."
ANN COULTER: [play from 3:28] "-- and they were denounced by Barney Frank."
NEAL CAVUTO: "so
ANN COULTER: "Oh, so that ,
why this happens all the time."
NEAL CAVUTO: "So now wondering where we go?"
ANN COULTER: "We don't --"
NEAL CAVUTO: "So now the pendulum swings full circle --"
ANN COULTER: "-- uhmm huh."
NEAL CAVUTO: "And what happens?"
ANN COULTER: "Well, I think,
-- you know Democrats keep talking about how they want to put Bush on trial for war crimes.
How about,
How about Franklin Raines and Jamie Gorelick?
I mean
you cannot tell me
that what can Ken Lanes (not sure of spelling) done --"
NEAL CAVUTO: "Top Fannie and Freddie executives --, go ahead."
ANN COULTER: "-- is wrong --
yes who got
who cooked the books
took multi -- ten's of million dollar bonuses.
for Fannie Mae and Freddie Mac
as they are collapsing, the books are cooked.
On at least with, with Ken Lea
only thousands of people suffered.
In this case, the entire country has."
NEAL CAVUTO:[play from 4:08] "I'm amazed though, I understand, casting appall on both parties,
ANN COULTER: "No."
NEAL CAVUTO: "When it's, it's a scandal like this comes."
ANN COULTER: "No."
NEAL CAVUTO: "It's, it's Republicans are getting it on the chin here."
ANN COULTER: [play from 4:16] "It is NOT both parties!!
NEAL CAVUTO: "Almost universally --"
ANN COULTER: "It is NOT both parties!
It -- No! No, no, no.
I knew they would do this! (laughing)
NEAL CAVUTO: [play from 4:24]"You're upset.
Remember Dagin? She left upset."
ANN COULTER: (laughing)
NEAL CAVUTO: "We left beverages in the green room that somebody spiked.
ANN COULTER: (laughing)
NEAL CAVUTO: "But I mean, no --
but I see it went down
ANN COULTER: (laughing)
NEAL CAVUTO: "Where do you see this going, though
because let's say."
ANN COULTER: [play from 4:32] "This was political correctness
this was liberal Democrat political correctness
that, that created this disaster of the bad mortgages
and now, it's not even both sides being blamed
and it ought to be only one side
uhmm, it is
it's, it's the Republican somehow."
NEAL CAVUTO: [play from 4:56]"Well you know what I see, what I see happening though,
when, when we were young, I'm older than you,
but what I think and you know but I think our parents went through
there are three or four different types of mortgages
they usually involves putting 20% down.
meeting certain income ratios right away.
ANN COULTER: "Right."
NEAL CAVUTO: "And a story
ANN COULTER: "Right."
NEAL CAVUTO: "Then we've got to the point
where there 400 versions of this.
Uh, you know, balloon, semi balloons, rockets, the whole nine yards, and it got crazy.
So now we're reverting back to that,
where home, getting a home, it takes a little bit of effort and work."
NEAL CAVUTO: [play from 5:20] "I guess that's
which it be.
day.
ANN COULTER: "Of course, that's the way it should be and
and this business of the banks threatening to give no loans at all, unless they get the bail out, has me a little testy."
NEAL CAVUTO: [play from 5:28] "And by the way, what makes you think, Ann, that we're gonna give them this money
have them put all their junk in a basket
so they're more in climate
you know these guys are gonna --
They're not going to lend.
They're not going to lend, after all this time --
there's still going to be angry."
ANN COULTER: [play from 5:44] "Well, I thought they were, they were claiming they wouldn't lend
unless they got their bailout.
They got their bailout now. Start lending."
NEAL CAVUTO: "I think they will. What are the odds that they do?"
ANN COULTER: "I, well, I think they will.
I mean, I thought it was a kind of a fake threat to begin with.
This is what banks do for a living.
NEAL CAVUTO: "I think, I think it's a greedy temper tantrum and they're going to get their way
to get more money down the road.
ANN COULTER: "Oh, even more?"
NEAL CAVUTO: "Because the spicket is open."
ANN COULTER: "Well because the
the uh, and the administration has uh,
I mean not the administration, but the government
has given in to this demand.
But it just seems to me, it's like a union strike.
We won't loan any more money unless you bail us out.
Well, you know, this is what banks do for a living.
Of course, you're gonna loan uh --
Why did not loan money to a worthy borrower?"
NEAL CAVUTO: [play from 6:16] "It happens.
It happens.
Ann, thank you for clarifying this.
ANN COULTER: (laughing)
NEAL CAVUTO: "You seemed a little upset, but,
but that's okay. It's been that kind of today, all right --
ANN COULTER: (laughing)
NEAL CAVUTO:It's all right
we'll, next on --."
