tv Way Too Early With Willie Geist MSNBC October 25, 2011 5:30am-6:00am EDT
some virgin margaritas and come straight in for iowa? and the cardinals manager couldn't get the right pitcher into the game at a crucial moment because of crowd noise. the question is, can st. louis go back now and win two in a row at home against the rangers? of course they can. it's "way too early" for this. good morning. i'm willie geist, this is "way too early," the show that encourages you not to hate but rather to appreciate. glad you are watching on msnbc or listening live on sirius xm radio. text the word awake followed by your response to 622639. we'll read the best responses as we always do a bit later in the show. the next 30 minutes will be your cram session for this tuesday
october 25th, a lot going on today including the secret burial this morning of moammar gadhafi's body, somewhere in the libyan desert. plus the herman cain campaign ad so strange i can't believe we're not leading with it. i've been overruled by my wise producers. there are super close-ups and cigarettes. first to the news at 5:30 a.m. with his jobs proposal stalled in congress, president obama turned his attention on monday to the housing market. the state of nevada has the country's worst home foreclosure rate and the highest unemployment rate at 13.4% in a three-hour visit to las vegas, the president rolled out his new plan to help american homeowners. >> we can't wait for an increasingly dysfunctional congress to do its job. where they won't act, i will. i'm pleased to announce that the agency that is in charge is going to be taking a series of
steps to help responsible homeowners refinance and take advantage of low mortgage rates. >> so what are those steps? the proposals apply only to loans backed by freddie mac and fannie mae. it removes the loan limit for borrowers who owe more than 125% of the value of their home. it eliminates certain fees and waves appraisal requirements. white house officials estimate the initiative could help up to 1 million homeowners, but the president acknowledged fixing the economy will take more than that single plan and urged congress again to help him pass his jobs bill. >> given the magnitude of the housing bubble and the huge inventory of unsold homes in places like nevada, it's going to take time to solve these challenges. we still need congress to pass the jobs bill. the housing market will not be fully healed until the unemployment rate comes down and the inventory of homes on the market comes down.
but that's no excuse for inaction. that's no excuse for just saying no to americans who need help right now. it's no excuse for all the games and the gridlock that we've been seeing in washington. >> some poking holes in the president's plan to rescue homeowners. the "new york times" critiquing this morning, an editorial, the new refinancing plan is still only a modest fix. real recovery in the housing market and the economy will require reducing the principal balance on many underwater loans, but banks balked at reducing principal because they don't want to face the losses. for too long president obama relied on the banks to do what's right. strong political pressure and likely legislation may be the only ways to get the banks to accept write-downs of principal. mr. obama needs to start pushing now. last week one of the men hoping to replace president obama, mitt romney, offered his take on solving the housing crisis. >> don't try to stop the foreclosure process, let it run its course and hit the bottom,
allow investors to buy homes, put renters in them, fix the homes up and let it come back up. the obama administration has slow-walked the foreclosure process that long existed and as a result we still have a foreclosure overhang. >> there are an estimated 11 million homeowners underwater. the president's plan would refer to 1 milli help about 1 million of them. that's a solution that basically says to middle-class americans who have been responsibly paying their mortgage and who through no fault of their own have seen their economic situation get desperate because of the prices in the housing market, you're on your own, tough luck, i'm not going to help you. that's not the president's approach. that's from jay carney. the president also announced help for student loans earlier
this week. rick perry heads to south carolina for a major economic address where he will outline his plan for a flat tax. the "wall street journal" features an op-ed from mr. perry previewing his plan that he calls cut, balance and grow. some of the highlights include a choice between your current tax rate or a flat tax rate of 20% a reduction in the corporate rate to 20%, and opt out of social security for younger workers and a move to cap spending to 18% of the country's gdp. governor perry emphasizes the plan would create a better environment for creating american jobs. in the op-ed he writes in part by eliminating the dozens of carve-outs, we will renew incentives for entrepreneurial risk taking and investment that creates jobs, inspires americans to work hard and forms the foundation of a strong economy. jim harwood interviewed governor perry and we'll play that on "morning joe" at the top of the
hour. karl rove taking aim now at herman cain. rove breaking out his white board to highlight cain's recent campaign struggles. >> cain has had a number of misstatements. we had abortion. earlier this year he didn't understand what the right of return was, the palestinian demand for the right of return. he recently said he didn't understand what neoconservatives were. he had a rather odd answer on afghan policy, basically i'll figure it out once i get into office. the whole effect of this is not to create an image of him being a flip-flopper, i think it's to create an image of him not being up to the task. speaking to "the washington examiner" mr. cain said i believe in part it's a deliberate attempt to damage me because i'm not "the establishment choice." it makes no sense unless it's a deliberate attempt on his part to try to push me down so the candidate he wants rises to the top. i believe karl rove wants romney
to get it. cain spent yesterday in chicago holding a fund-raising luncheon at morton's steakhouse. when he left theio iohe dismiss suggestions that his campaign is a ploy to sell books. >> well, it's not a gigantic book tour if you call five days mixing a book dour in with a campaign tour, that's misconception. the thing that will convince people that my campaign is credible, if i make a misstatement, i will retract it. if i make a mistake, i will admit i made a mistake. >> mr. cain sits atop of the polls with mitt romney. he will go to texas today for a book signing and a speech. we turn to libya where a top government official is confirming that moammar gadhafi and his son, mutassim, were buried in a ceremony earlier
today. islamic prays were read over the bodies. this comes as libya's national transition council faces increased international pressure and is calling for a full investigation surrounding the time line of gadhafi's death. many top officials insist he was killed in cross fire and not by revolutionary forces, however video evidence appears to suggest otherwise. to turkey where rescuers work desperately searching for survivors buried beneath rubble after sunday's 7.2 magnitude quake that struck the eastern part of the country. 366 people have now been confirmed dead, while more than 1300 have been injured. thousands remain displaced living in cars and tents in near freezing conditions. there's more than 2,000 buildings that have collapsed since sunday. the obama administration is recalling its ambassador syria after "credible threats" against his personal safety. the ambassador, robert ford, has
been outspoken against the assad regime, speaking critically of the violent crackdown on protesters. syria responded by calling its u.s. ambassador for consultations. shares of netflix were slammed in after-hours trading yesterday after the campaign reported a big fall-off in subscribers for the latest quarter. becky meehan is live in london for us this morning as we get all up in your business. what's happening to netflix? >> they are losing tons of subscribers. for the third quarter they lost 800,000 u.s. subscribers. it's a big number and a great deal bigger than we were led to believe. last month the company said they expected to lose about 200,000 u.s. subscribers. that's why the stock is suffering so badly. add to that some of the sentiment on the outlook. netflix telling us they expect dvd subscriptions to decline sharply in the fourth quarter of the year as well. even into 2010 they say they
expect to make a loss in the first quarter partly because they are spending a lot of money in expanding their business into europe. bear in mind, since the summer, we've seen the stock down by over 60%. just really compounding things over at netflix. speaking of earnings reports, we had an earnings report from ubs, one of the big swiss banks. this is the first earnings report for this business since we had that rogue trader scandal. they came out with a surprise $1 billion swiss franc profit, because it's because of loss of items. >> the front page of the "wall street journal" reads fresh worries of recession grip europe. thank you very much. still ahead a big game five in the world series. the cardinals jump out to an early lead but some strange twists and a big miscommunication in the st. louis bullpen turns the series. highlights ahead in sports. and jon huntsman dropped some mandarin while talking last
night to steven colbert. will that get him above 2% in the polls? that and a check of weather when "way too early" comes back. last night mr. reagan called congressional leaders to the white house to say he approved the action. this morning the president told the world, explaining why he ordered troops to grenada. >> the united states objectives are clear, to protect our own citizens, to facilitate the evacuation of those who want to leave and to help in the restoration of democratic institutions in grenada.
do you have an irregular heartbeat called atrial fibrillation, or afib, that's not caused by a heart valve problem? are you taking warfarin to reduce your risk of stroke caused by a clot? you should know about pradaxa. an important study showed that pradaxa 150mg reduced stroke risk 35% more than warfarin. and with pradaxa, there's no need for those regular blood tests. pradaxa is progress. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding, and seek immediate medical care for unexpected signs of bleeding like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have kidney problems or a bleeding condition, like stomach ulcers. or if you take aspirin products, nsaids, or blood thinners. tell your doctor about all medicines you take, any planned medical or dental procedures, and don't stop taking pradaxa without your doctors approval, as stopping may increase your stroke risk.
[ female announcer ] give a little cheer to a family of a soldier. just cut out the cheer from your specially marked box of cheerios, write your message, and we'll see that they get it. a beautiful live picture of the white house. the president is not there. he's out on the west coast, luckily bill karins is here in new york with us to look at the weather. how is it looking?
>> yesterday we mentioned that we could have a hurricane and we do this is a category 2 hurricane. this is rina. it will hit land somewhere, when the storms get in the western caribbean, the waters are warm. it's almost like july or august in this portion of the word. it will most likely head for cancun as of two days for now. right now they'll probably start getting rid of the tourists and start boarding things up. here is the forecast from the hurricane center. they take it as a category 3 storm and weaken it to a 2 as it approaches cancun, then weakening down to a category 1. as of now, south florida you look okay. almost all of the computers are keeping it towards western cuba, only as a tropical storm. south florida, keep an eye on it, but as of now you look all right. northeast looks fine, a cool start to the day. afternoon should be all right. maybe a shower around buffalo. the big weather story will be in denver. yesterday, 80 and sunny. today 55 with temperatures
dropping and rain. snow tonight, about three to five inches by tomorrow. >> so, it's dropping about 25 degrees a day. >> yes. >> thank you very much. let's turn to sports. another tight game, game five of the world series last night. in the second inning, cardinals first to get on the board. molina singles to left. matt holliday scores. next batter, skip schumaker grounds to third, but moreland can't handle it. in the third, moreland crushes a 2-0 fastball in the upper deck, 446-foot solo shot. three innings later, score still 2-1. watch this. adrian beltre goes down to one knee and hits a curveball into the left field seats. unbelievable. look at this swing. goes down and gets it. yeah. a questionable call in the seventh by manager tony la russa, one out, albert pujols at
the plate. la russa and allen craig go for second, and he's gunned out by a mile. rangers got out of the inning after an intentional walk to pujols. tony la russa tries to get tony motte, but the bullpen can't hear, so the original pitcher stays in, and it goes to 4-2. pujols at the plate, the tying run with a man on first, the rangers get him with a strike 'em out throw 'em out double play. texas takes game five 4-2 after they fell into a 2-0 hole. teams head back to st. louis for same six tomorrow. the forecast 50 degrees and rain. there was nfl last night.
ravens and jaguars playing the monday nighter. if you like low-scoring, disfunctional football, you would have liked this one. get your children away from the tv. jaguars, ravens three-yard line, maurice jones drew fumbles on the one. ravens recover. one of three fumbles on the night. third quarter, third and 35. joe flacco catches his own pass after it's blocked by a defender. tries to run it but is caught because he's not fast. baltimore puts points on the board with a touchdown, bolden gets both feet down. ravens pull to within two. a few minutes later, josh scobee hits his fourth field goal of the day. he kicked three from over 50 yards out. that ties an nfl single game record. the jags upset the ravens 12-7.
12-7 on four field goals. ravens fall to 4-2, jags 2-5. coming up on "morning joe," president obama goes to vegas to unveil his new plan to help home owners underwater on their mortgages. will this one work better than the last plan? when we come back, we'll huddle up around the water cooler to watch the latest gem from the herman cain campaign. this is an ad so strange i can't begin to describe it. hey buddy, wattaya lookin' a-oooh. ♪ [ female announcer ] mini™ meets berries. kellogg's® frosted mini-wheats cereal with a touch of fruit in the middle. helloooooo fruit in the middle.
sweet & salty nut bars... they're made from whole roasted nuts and dipped in creamy peanut butter, making your craving for a sweet & salty bar irresistible, by nature valley. like a ramen noodle- every-night budget. she thought allstate car insurance was out of her reach. until she heard about the value plan. shop less. get more. make one call to an allstate agent.
president obama in las vegas on monday unveiled his latest plan to sure up the housing market. new statistics show the number of american homeowners has dipped to multi decade lows. if you want to sound smart, tell your friends homeownership in the united states fell 1.1% over the last decade. the census bureau says it is the biggest drop since the great depression which saw a 4.2 decline. let's huddle up around the water cooler to watch the latest bizarre turn in a presidential campaign that is starting to look more and more every day like a running snl sketch. this is the latest youtube ad from herman cain.
if you can explain to me what happened in the last 15 seconds of this spot, i will buy you lunch at godfather's pizza. >> since january i had the privilege of being chief of staff to herman cain and the chief operating officer of the friends of cain. tomorrow it's one day closer to the white house. i really believe herman cain will put united back in the united states of america, and if i didn't believe that, i wouldn't be here. we need you to get involved because together we can do this. we can take this country back. ♪ i am america ♪ one voice united we stand ♪ i am america ♪ one voice >> okay. let's work through this. one thing we know american voters like is to have smoke blown in their face. you want to make sure you get that in the ad. just ripping smokes, blowing it at you. herman cain with the creepy
smile as the song "i am america" plays in the background. an original score. last night jon huntsman stopped by the colbert report to get some help. he thought he could rise across swing states by speaking mandarin. >> you speak mandarin, do you not? >> i do. >> okay. say the most non-scary thing -- if you don't mind, would you say the most non-scary nicest thing in mandarin, please? [ speaking mandarin ] >> terrifying. what did you just say? >> i just said i think that you ought to consider being my running mate for vice president. >> well, sir, recent polls, you are at 2%.
are you ready for the colbert bump? >> i am so ready for the colbert bump. >> governor, you may be at 2%, we're going to get you up to whole milk. >> steven colbert. we all know jon stewart has a treasure trove of impersonations up his sleeve. last night he took a shift at rick perry, lindsey graham and michele bachmann. >> on the cover of "parade" magazine, suggestively offering the nation his nipple -- hey, hey america -- hey america, you hungry? are you hungry? do you want to suckle? yeah. that's good teat right there. suck on it get barbecue cause in your mouth. eric canter was supposed to
speak today but his office canceled the appearance after learning 300 seats would be open to the public. >> oh! the public! oh! heavens to betsy. oh! see, it was our job to start it badly. we did that. we were [ bleep ] idiots. i recent this president helping to depose gadhafi without the complications and cost of a never-ending occupation. it's frankly unamerican, i won't stand for it. >> stewart reaching deep into his bag of impersonations last night. still ahead on "way too early," why you're awake. your tweets, texts and e-mails are next. "morning joe" moments away. exclusive to the military. and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. from free checking to credit cards to loans,
our commitment to the military, veterans, and their families is without equal. ♪ visit us online to learn what makes our bank so different. usaa. we know what it means to serve. ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. delivering mail, medicine and packages. yet they're closing thousands of offices, slashing service, and want to lay off over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem ? a burden no other agency or company bears. a 2006 law that drains 5 billion a year from post-office revenue while the postal service is forced to overpay billions more into federal accounts. congress created this problem, and congress can fix it. ♪
[ sighs ] [ bird chirps ] [ bird squawks ] ♪ [ bird screeching ] ♪ [ elevator bell dings ] [ sighs ] how mad is she? she kicked me out. but i took the best stuff. i'll get the wrench. ♪ [ male announcer ] kohler's tresham collection. life. with a twist. ♪ over a million people have discovered how easy it is to use legalzoom for important legal documents. so start your business, protect your family, launch your dreams. at legalzoom.com we put the law on your side.