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tv   The Kudlow Report  CNBC  September 25, 2009 7:45pm-7:59pm EDT

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richard hoey, who's that handsome guy down there? who's that handsome, handsome guy down there? who is that? >> somebody cue larry. >> this is great stuff. t.a.r.p. inspector general barofsky said we're not going to pay back t.a.r.p.
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we don't know what's to come. this program should be maintained far little bit longer. you also got to remember that barofsky didn't say we're not getting any money back. we may not be getting all of it back, but that may be a small price to pay to stabilize the markets. i think at this point we really need to take a wait and see attitude and really have the stand-by facility that's shown to work very well. >> it's about $300 billion that barofsky thinks question lose. you know the story better than i do. on top of that, keeping another indigni indignity, the post office is in the hole. they're going to bail them out for $4 billion. the post office. i connect the dots to health care insurance. what's your quick take to what christian wants to say with t.a.r.p. do you want to de-t.a.r.p.?
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>> i'm a lover of t.a.r.p. and the financial rescue but i want to see it. it's got to end. this was a bait and switch with taxpayers if we keep this money. we need to -- you know, we did the stress test. treasury says the banks can handle what's coming. i think they can, too. let's let the t.a.r.p. end and get this money back to the taxpayers. this is the single most unpopular program ever passed by congress. treasury wants to go out there and extend it longer is just crazy politically. >> i admire tony's optimism, but the problem is we've never been in a world like this and i think there's a lot of uncertainty associated with different problems out there. >> i have to merge our panel again. dan fitzpatrick, given all the uncertainties on the international realm, given the
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selloff in the market this week, some sloppy numbers, where would you put your money right now? opening day on monday. september has been a hell of a great month. where would you put your money right now, dan? >> well, happily i have a lot of it to put because i've been lightening up for the past week or so. i'm short the dollar right now. and i would continue to be short the dollar. wait for the financials to pull back a little bit to get better entry points. it's not what you own. it's where you own it. >> i'm going to give you the last 25 seconds. where would you put your money? >> i'm fine on the stock market. i think a key document is china said treat us with respect or we might sell our ast sets.
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they traded them with respect, moved to the g-20. they're going to raise their vote in the imf, and i think china is going to start talking not quite so hostile to the dollar. >> is the u.s. rally over or is it just staaling right now? >> we can very well have a correction or even a small price correction. we're still in a cyclical bull market. short-term fluctuations, i don't know. >> thank you so much. coming up, i'll have a short last word on my friend kevin worsch. please stay with us. could someone toss me an eleven sixteenths wrench over here? here you go. eleven sixteenths... (announcer) from designing some of the world's cleanest and most fuel-efficient jet engines... to building more wind turbines than anyone in the country... the people of ge are working together... creating innovation today for america's tomorrow.
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♪ vo: free credit score and report with enrollment in triple advantage. live from the nasdaq marketsite, this is "fast money." i'm melissa lee. these are the "fast money" traders. the market snapping a two-week winning streak as economic data disappoints. is this the start of a bigger correction? our traders have the answer. and it was the biggest week for ipos in about a year and a half. but are any stock market movers worth buying? we'll answer that question. plus rimm falling 17% today but one analyst is sticking to his guns and says it is still a buy. we'll see about all the others on the street. don't seem to see any more pop first let's get to the word on the street. we should note that we are awaiting president obama to make some comments on the heels of
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that g-20 summit in pittsburgh, pennsylvania. when he begins speaking, which is anticipated to be at around 5:15, we will go to him live. but in the meantime we do want to discuss the big market turnaround today, this week in fact. guy, you have earned the moniker debbie downer -- >> justly so. >> and this week it seems you're not wrong. >> i'm not right either. look, the timing in this business, if you're early you're wrong. so i've been wrong. i'll say it again. and quite frankly, given the rimm news yesterday, i thought we'd be down a lot more than we were. so i'll say you know what, today wasn't as bad as i thought it would be. that being said, i think this week sets you up for another continued leg lower into next week and into october. i really don't like what i saw. the reversal on a fed day, i think you come back six weeks from now, point to that day when the s&p is down another 75, 80 points, and say that was the day we reversed. >> i don't think that was a shocker to anybody. i think people knew there had to be an exit strategy at some point from the fed. and i think that's what's spooking them. did anyone really think that the fed was going to time it perfectly on the exit strategy? no. so i don't think this is any huge shock. i don't think we should be selling the market on this. >> karen, what's your take on this and the kevin warsh editorial as well as his comments midday, which seemed to bring the market to its session low? >> the comments midday -- >> just sort of reiterating --
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>> did he say anything about -- did he write that piece on his own? was he kind of off the

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