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September 24th, 2008
09:45 PM ET

Live Blog from the Anchor Desk 9/24/08

For what’s in the program take a look at tonight’s Evening Buzz.

Don’t forget to watch Erica Hill’s webcast during the commercials.  LINK TO WEBCAST

And take a look at Anderson and Erica on our live web camera from the 360° studio. We’ll turn the camera on at 945p ET and turn it off at 11p ET. LINK TO THE BLOG CAMERA

Wondering why some comments are posted while others aren’t?  Here’s a post that may help: LINK TO COMMENTS POST

We’ll start posting comments at 10p ET and stop at 11p ET.


Filed under: Live Blog
September 24th, 2008
09:24 PM ET

ON THE RADAR: Thursday

Lisa Ort
AC360° Producer

The candidates head to the White House…and some other stories on our radar:

ON THE TRAIL:President Bush has asked both Sen. John McCain and Sen. Barack Obama to join him for a meeting at the White House to discuss the economic bailout plan.  Both candidates plan on attending. 

SINGH VISIT: Indian Prime Minster Manmohan Singh is scheduled to visit with George W. Bush.

SLEIMAN VISIT: The Lebanese President Michel Sleiman is scheduled to meet with George W. Bush.

HOUSING GSE’S HEARING: The House Financial Services Committee holds a hearing on “Treasury Action on Housing GSEs.” Treasury Secretary Henry M. Paulson and Federal Reserve Chairman Ben Bernanke are tentatively scheduled to testify.

DELTA AND NORTHWEST STOCKHOLDERS MEETINGS: Delta and Northwest Airlines shareholders are expected to vote on proposed merger.

O.J. SIMPSON TRIAL:Charles Cashmore will resume his testimony.  He’s the 13th witness for the prosecution and has already testified that he saw two men in the Simpson entourage carrying guns during the sting at the Palace Station Hotel.


Filed under: 360° Radar
September 24th, 2008
09:01 PM ET

Evening Buzz: Bailout Battle

Maureen Miller
AC360° Writer 
 

We're just seconds away from President Bush's address to the nation about the economic crisis. He's expected to make his case for the $700 billion bailout for America's financial firms. Tonight, we're hearing Congress is making progress on the proposal.
 
What do you want to hear from the President?

Then there's the political bombshell today linked to the economic troubles. GOP presidential candidate John McCain says he will suspend his campaign to focus on the money troubles that are being debated on Capitol Hill and he's suggesting postponing Friday's scheduled debate with his democratic rival Senator Barack Obama.

As you might imagine, Mr. Obama doesn't want to put the debate on hold and took aim at McCain's approach. "I think that it is going to be part of the president's job to deal with more than one thing at once," he told reporters in Florida.

Then just moments ago, Senator Obama and Senator John McCain released this joint statement:
 
"The American people are facing a moment of economic crisis. No matter how this began, we all have a responsibility to work through it and restore confidence in our economy. The jobs, savings, and prosperity of the American people are at stake.

"Now is a time to come together – Democrats and Republicans – in a spirit of cooperation for the sake of the American people. The plan that has been submitted to Congress by the Bush Administration is flawed, but the effort to protect the American economy must not fail.
 
This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. Now is our chance to come together to prove that Washington is once again capable of leading this country."

Do agree with McCain's plan to put his campaign on hold and delay Friday's debate?  Or should they both go forward?

We'll have all the late breaking details tonight on 360, starting at 10pm ET.
Hope you can join us.


Filed under: Maureen Miller • The Buzz
September 24th, 2008
08:56 PM ET

Spinning tales of guns

Editor’s Note:

O.J. Simpson is on trial for robbery and kidnapping charges nearly a year after police arrested him in Las Vegas, Nevada. Prosecutors say Simpson and five other men stormed into a Las Vegas hotel room last September 13 to recover sports memorabilia that Simpson said belonged to him. They say at least two men with Simpson had guns as they robbed two sports memorabilia dealers. The following dispatches come from our Paul Vercammen covering the trial.

--------------------------–

Paul Vercammen
CNN Senior Producer

5:12PM PT

The 13th prosecution witness testified Wednesday afternoon in the O.J. Simpson armed robbery and kidnapping case and spun more tales of guns being present at the incident.

Charles Cashmore, one of four men to make a plea deal in the case, testified he saw two men in the Simpson entourage had guns during the sting at the Palace Station Hotel.

Cashmore will resume testifying tomorrow morning.

Next up on the stand is expected to be either Michael McClinton or imprisoned Alfred Bearsley.

McClinton, according to testimony, pointed a gun at the alleged victims' heads during the incident.

McClinton made a plea deal with the prosecution.

Bearsley is the Simpson collector who told police he was robbed by O.J. Simpson but now says he is not a victim.

Bearsley was thrown into a California prison on a parole violation.

September 24th, 2008
08:20 PM ET

Step away from me sir, you smell bad

Editor’s Note:

O.J. Simpson is on trial for robbery and kidnapping charges nearly a year after police arrested him in Las Vegas, Nevada. Prosecutors say Simpson and five other men stormed into a Las Vegas hotel room last September 13 to recover sports memorabilia that Simpson said belonged to him. They say at least two men with Simpson had guns as they robbed two sports memorabilia dealers. The following dispatches come from our Paul Vercammen covering the trial.

--------------------------–
Prosecution witness, Walter Alexander, says he "truly believes now" that he and O.J. Simpson were participating in a robbery.

Did he really ask him to back away? did he really say "because you smell?"

Check out the video below of Walter Alexander on the witness stand:


Filed under: Crime & Punishment • O.J. Simpson Trial • Paul Vercammen • T1
September 24th, 2008
07:13 PM ET

Alexander and Galanter knock heads

Editor’s Note:

O.J. Simpson is on trial for robbery and kidnapping charges nearly a year after police arrested him in Las Vegas, Nevada. Prosecutors say Simpson and five other men stormed into a Las Vegas hotel room last September 13 to recover sports memorabilia that Simpson said belonged to him. They say at least two men with Simpson had guns as they robbed two sports memorabilia dealers. The following dispatches come from our Paul Vercammen covering the trial.

--------------------------–

O.J. Simpson's attorney Yale Galanter speaks during Simpson's trial in Las Vegas, Wednesday.

O.J. Simpson's attorney Yale Galanter speaks during Simpson's trial in Las Vegas, Wednesday.

Paul Vercammen
CNN Senior Producer

3:30PM PT

O.J. Simpson's defense attorney unleashed a scorching cross examination of prosecution witness Walter Alexander, but was unable to delve into questions about possible unsavory business activity.

Simpson attorney Yale Galanter says Alexander made money as a pimp.

Judge Jackie Glass did not allow the Simpson defense to pursue the alleged pimp angle.

In a heated exchange, when Galanter was grilling him about previous testimony, Alexander told the Simpson lawyer to "back away from me."

Galanter tried to show the jury Alexander was once facing 11 criminal counts in the case, but has thus far spent just 12 hours in jail in exchange for his cooperation.

Earlier in the day, Alexander said Simpson tried to cover up that he and another former co-defendant in the armed robbery trial brought guns to the sports memorabilia sting.

September 24th, 2008
06:46 PM ET

Erica’s News Note: The Numbers

Erica Hill
AC360° Correspondent

It IS the economy – you would truly have to be stupid not to know this. Yet, are we talking about the entire economy? Last night on 360º David Gergen mentioned jobs as one of the most important – and overlooked – areas of the economy. During the webcast, I asked him if the candidates were talking enough about jobs, and saying what you, the voters, want and need to here. He didn’t hesitate for a second. “No,” he said.

There are nearly 9.5 million Americans out of work – 600,000 jobs have been lost so far this year, and we still have three months to go.

Those of you working are likely finding your check doesn’t go as far as it used to. I swear the price of milk goes up weekly.

Why aren’t we hearing more about ways to not only keep the jobs Americans have, but to create new ones? When I was in Michigan recently, speaking with a group of female voters, the majority told me the economy was the most important issue. In a city like Detroit, where the auto industry seems to be hanging on for dear life, and in a state like Michigan which holds the dubious distinction of the state with the highest unemployment – nearly 9% – it’s also an issue that requires specifics. Could this new focus bring specifics from the candidates? Ahhh… if only I had a crystal ball. My Magic 8 ball isn’t much help.

FULL POST


Filed under: Erica Hill • Erica's News Note
September 24th, 2008
05:22 PM ET

Beat 360° 9/24/08

Ready for today's Beat 360°?

Everyday we post a picture – and you provide the caption and our staff will join in too.

Tune in every night at 10p ET to see if you are our favorite!
Here is 'Beat 360°’ pic of the day:

Former US President Bill Clinton greets former US Vice-President Al Gore at the Clinton Global Initiative Wednesday, in New York.

Have fun with it. We're looking forward to your captions!

Make sure to include your name, city, state (or country) so we can post your comment.
________________________________________________

Beat 360° Challenge

But wait!… There’s more!

When you win ‘Beat 360°’ not only do you get on-air prime-time name recognition (complete with bragging rights over all your friends, family, and jealous competitors), but you get a “I Won the Beat 360° Challenge” T-shirt!

Read more here….

Good luck to all!

Update: See the winner!


Filed under: Beat 360° • T1
September 24th, 2008
04:41 PM ET

A BETTER mortgage rescue plan

Howard Sosin, co-founder and former CEO of AIG Financial Products.

Howard Sosin, co-founder and former CEO of AIG Financial Products.

Editor's note: Here is a "Mortgage Rescue Plan" from the founder of a company that later created many of today's complex financial products. We'd like to hear your ideas, too. Thank you for sending us your comments.

Howard Sosin
Co-Founder and former CEO of AIG Financial Products

THE PROBLEM: The American economy is on the brink of a financial melt down that has been caused by a failure of the housing market. Our country needs a comprehensive solution to this problem that addresses the issues of both Main Street and Wall Street.

From Main Street’s perspective the problem is that housing prices, which were only supposed to go up, have fallen dramatically and continue to fall. Falling prices have exposed weaknesses in mortgage lending – an industry that has relied on price increases to hide poor lending practices. Extremely low down payments and complex interest rate structures that allowed buyers to acquire houses beyond their means have led to defaults and foreclosures. Main Street is hurting.

From Wall Street’s perspective the underlying problem is that mortgage backed securities have gone down in value, and even at dramatically reduced prices investors are unwilling to step forward to purchase securities. Furthermore, financing for mortgage backed securities is increasingly difficult to obtain, which forces sales, which exacerbates the problem. Wall Street is hurting.

FULL POST


Filed under: 360° Radar • Economy • Howard Sosin
September 24th, 2008
03:18 PM ET

The Shot: Is David Blaine cheating?

We keep David Blaine honest on his most recent stunt...is he cheating?


Filed under: T1 • The Shot
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