Bailout Blowback: Reaction on Wall Street to the Stall in Talks

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This is a rush transcript from "On the Record ," September 25, 2008. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, FOX NEWS HOST: What's happening right now a block from where we are? The debate on Capitol Hill is raging. It could go late into the night. FOX News is ready to break in live with the latest on the financial bailout bill. We hear it is very tense -- very tense. It certainly was at the White House today. What is going on? How did we get here?

Joining us live is Shibani Joshi, a reporter for the FOX Business Network. How did we get to this, and what is going on?

SHIBANI JOSHI, FOX BUSINESS NETWORK: Well, you know, I was on the floor of the NASDAQ today, and I can tell you -- I mean, we don't have a sense for what's going on. The markets don't have a sense for what's going on. And the markets were all over the board, have certainly been all over the board over the last week. The Dow was up more than 300 points today.

I know that there are people on your program just a few minutes ago talking about whether or not a deal had been agreed upon in theory or in principle. But I tell you what, Greta, the markets certainly believed so, with the Dow up more than 300 points. But then as the day went on, literally within the span of eight hours, all of those hopes have been virtually wiped away, and we're still left with the problem of what's going to happen to the economy, how are we going to turn things around, and you know, when are our legislators going to do something to fix the problem?

VAN SUSTEREN: Well, it shows you how the suggestion today that there's a deal added some stability and some -- and an upward movement. Now tonight, with them working -- you know, we're standing by. Anything could happen any minute. But imagine when the markets open tomorrow, if this has been going on all night long and there's uncertainty and there's still no deal.

Watch Greta's interview

JOSHI: Well, certainly. And uncertainty is the name of the game. I mean, what we're looking for in the markets is the stability, a sense that we are going to get through this credit crisis. I mean, this mortgage bail-out plan -- you can call it a bailout, you can call it a rescue plan, call it whatever you want, but the intent of it is to lend stability to the credit market, so that we can get liquidity and cash pumped back into the market, so the banks can get these toxic assets off of their balance sheets and people can get access to money -- not just people, but businesses all throughout the economy.

And if we don't have any sense of certainty as to whether or not that's going to happen, you're going to see the markets continue to perform as they have, which is up 300 points one day, down 300 to 500 points the next day, and it will continue to do so until we get some clear-cut answers.

VAN SUSTEREN: All right. If there's no perfect deal, but at least there is a deal, that does mean there's at least people will know what to (INAUDIBLE) That does have some certainty. Will that at least help, even if it's not perfect?

JOSHI: Well, I think the -- yes, you're absolutely right. I think there is a lot of disagreement as to whether or not this is the perfect solution. I don't think that that's what the markets are looking for. The markets are looking for any solution and the best solution that we can get because I think the perfect solution is going to take a lot of time, probably a lot more money than $700 billion, because every expert that I've certainly spoken to believes that the $700 billion is not going to be enough to turn the market around completely.

This is not going to solve all of our problems, but this is going to be a major step in the right direction, and that is exactly what the markets are looking for. And that is what will lend us stability over the longer term.

VAN SUSTEREN: Shibani, thank you.

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