• This is a rush transcript from "Your World With Neil Cavuto," July 28, 2009. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST: All right, stocks down a little bit today, but is the vice president taking credit for the recent run on Wall Street?

    Listen to this.


    JOSEPH BIDEN, VICE PRESIDENT OF THE UNITED STATES: When we took office on January 20 — 20, our market was in freefall. We put in place a three-legged approach to deal with this great recession to prevent it from becoming a Great Depression, and began to climb out of that deep hole.


    CAVUTO: So, did the White House safe the economy from a freefall?

    Video: Watch Cavuto's interview

    Let's ask former vice presidential nominee Geraldine Ferraro, who says that a guy who did become vice president is lying through his teeth.



    CAVUTO: Kidding. No.

    FERRARO: Never, never, never.

    No, he's absolutely right.


    CAVUTO: All right.

    FERRARO: If you take a close look at — at what makes Wall Street do what it does, it is usually confidence in what is going on.

    And this has been going on for the past at least month. I have heard more than one analyst — I do watch other shows as well. I am sorry, Neil.

    CAVUTO: That's...


    FERRARO: But I do hear — I have heard them say, wow, look at this. We're — it's — we're moving out of a recession now.

    You know, for the first time in how long, the stock exchange has reached over 9000, since what? Now, you tell me. Eighteen months? More than that?

    CAVUTO: Well, then — then — last January.


    FERRARO: A long time. So, it's...


    CAVUTO: So, let me ask you this.


    FERRARO: It's more than since January, because it's gone...


    CAVUTO: No, we are back to numbers we had in January.


    CAVUTO: Early January. But you're fine. I am not going to quibble with numbers with you, because I love you.


    CAVUTO: But — but how much of this is built on growing confidence that the president is not going to get all he wants, that he's not going to get maybe a $1 trillion health care...


    FERRARO: Stop looking at...


    CAVUTO: ... mug's game, mug's game.

    FERRARO: Well, because the — the health care bill, he is going to get something. He's not going to get all...