“The republican party is the only party that can fix the system that its party broke”… that’s the best quote I’ve heard.

Evening all.

I'm glad the bailout didn't go through.

And of course... the politicians are going to point fingers at one another.

Are you kidding me? We have 12 members of Congress that allowed their hurt feelings to cost American's 1.2 trillion today in Stock Losses??

Insane to watch history live on CNN this afternoon. Looking forward to hearing from Suzi O. tonight.

One blames Pelosi, another blames the Jewish Holiday, another blames the Democrats, another blames "12" Republicans who "had their feelings hurt." And, the American Consumer is still left holding the bag! What a bunch of BS!

Hellooo Anderson, Erica, and Best bloggers!!!
Not good news for me and bloggers!!!!! *whistle* big dive $700 and it is fail for bailout!!!! ouch!!!

For those who disagree with the rescue plan, do you know where your paycheck comes from? Do you know whether or not your employer borrows money to meet payroll and to pay bills? I don't like the idea of any rescur plan either, but something must be done or we will all go down. I really do not think that people understand this.

Pay attention, people. The American people have told Washington that there are no bail outs for Wall Street fat cats. The average person has little to NOTHING invested in the gambling and gamblers of the stock market. We will not save them unless there is a good faith effort to save us. Credit companies must zero out their demands for interest rates, mortgages must be forgiven to the point that homeowners can catch up and pay only on the principal, and not another penny will be borrowed from foreign countries. You know, we regular people try to live within our means and do without basic needs just to get by. Pull the strings off of the "golden parachutes" and turn that money back into our pockets. My answer to this market crisis is "LET THEM DIE!!!"

Who said "Freddie Mac and Fannie Mae are under great management"? Charles Shumar, Dem. Who asked Congress nine times to reform Freddie Mac and Fannie Mae? President Bush. Who is the chair of the House Finance Committee and resisted ALL reform efforts on Fannie and Freddie? Barney Frank, Dem.

Good evening Anderson. Well it got ugly today and now we can all sit back and suffer from the ugly. I am tired of seeing DEMS. and REPUBS. pointing fingers. I think it is time they cut the crap between them and work for the sake of the country and not the appearances of the show.

Lets hope Congress does what's best for us. Republicans and Democrats must work together. They are all acting like 2 year olds.

good evening everyone.. im having some computer problems.. so no little picture today.. suze orman will be here. if you have some questions for her.. let me know.

For the first time I am really starting to worry.

Evening Anderson and blogges.

Why is all of this economic backlash ignored the fact that in 1999 ‘alleged’ collusion by Acorn, Illinois State Sen. Obama and President Clinton ‘encouraged’ Fanny and Freddie into giving mortgages to people that they would not normally give based on their ability to pay their mortgage?

What else (other than the bail out plan) could be done to get out of this mess?

I'm having a hard time believing they are gone on holiday now until Thursday!!!

1. The rejected bailout was so full of loopholes that neither executive pay nor taxpayer equity in the participating companies would have been a reality. Industry specialists gamed the bill and thank goodness a few experts on the inside saw thru it.

2. The underlying economic fundamentals are severely deteriorating so regardless of the bill or today’s market action, it is clear that the market should be heading lower on its own merits. Thanks, Mario.

Why did lawmakers have to leave town? The Jewish holidays are not national holidays?

Why doesn't any mention the part that the credit rating agencies played in this raping of middle class America?

Good evening everyone, tough time in states right now huh...I dont know if bailout plan not go through be good thing or bad thing for your economy...

Leslie- Unfortunately it's not them that will die...it's the people you just described that will get hit the hardest.

How can McCain lead the country, if he can't even lead his party?

As a disgruntled conservative I want to know where were the conservatives who bowed their backs today for the last eight years? Where was Eric Kantor and the rest of them as we have been flushing billions down the toilet.

McCain sent out a press release before the vote was completed claiming he was responsible for getting his party to support it, AND THEN THE BILL TANKED. McCain said it's not time to blame but then turns around and starts blaming others (Obama). The deceit just doesn't end...

Well to all you geniuses that didn't support the bail out of 700 billion, we just lost 1 Trillion today. Good call guys, really smart. Lets keep arguing about whose fault this is while the American public watches our credit markets freeze and our retirement funds evaporate.

I agree with you Casey...... I know Republicans blame Nancy for this bill..... that is so hurt us to sink our economy real bad.

Did 95 Democrats kill the bill just so Obama can continue his rise in the polls?

Almost 70 Democrats voted against this. Why the focus on 12 Reps? Pelosi runs Congress. Can't she control her party?

I trust Ali V and Suze O more than I trust Congress. They are both for the bailout. I don't have any money but I'll go with what they say. It won't be good if the markets start falling all over the world.

The sad part is we (Americans) don't know and didn't know enough about this.

So how can Congress take a Jewish holiday when most Americans are working and during such a crisis situation? I think it demonstrates that Congress in general have a lack of respect for the country itself. How many more companies/banks are going to fail in the next few days?

I am shocked at how ignorant the average voter is at how this decision today is going to affect every aspect of their lives. They really believe it is only about Wall Street and are completely clueless as to how this will impact every single American.

Is the bailout really serious? How did the congress went on Jewish holiday and come back after 2 days (Thursday)? These lawmakers are not serious of what they are doing. How do these people got elected???

How many members of Barney Frank's own Democratic committee voted nay on this bail out? (Most of them)

I think this is a great day for the future of capitalism, and free markets and for future generations. let the markets go where they are meant to go and at some point – when the market feels it's reasonable – investors will invest, buy stocks, homes, start new companies, innovation will increase and change will happen which is what our system needs – let the market correct itself. Trust the system.

Get a grip AC. Politicians leaving D.C. while the stock market drops is not a terrible thing. I sense a great buying opp!

don't they realize that their lack of action on the bailout will have disastrous consequences? I am not in favor of bailing out greedy and unethical ceo's but if we don't act now, the global landscape will forever change – not in our favor...
stop the partisan polictics and act...this is not a popularity contest, the outcome will establish a new order

Too many unknowns..If members were not able to understand what was included and if everyone expected it to get it passed just by scaring that financial market will freeze was totally an incorrect expectation.

I totally understand the feeling of those who have voted against it.

The failure of the bailout had nothing to do with hurt feelings. It happened because the constituents called their representatives in government and told them to vote against it. Plain and simple.

Question for Suze:
I keep hearing everyone say that if you are young and have plenty of years for your money to grow then this might be the time to do it. I'm a junior in college and am wondering what specific things we should be putting our money into. thanks!

Hey Anderson
The house of Representatives rejected the 700 billion plan to bail the US-financial system.It seems that these people in congress are more worried keeping their own jobs,than about this deal works to that of American dont lose their jobs.This crisis is still there.Time has run out.This is a dangeros moment in the American history.So who and when help will be coming?

Why couldn't the Gov. buy the bad Mortgages from banks to free up money and do refi's of 30 yr 6%-7% loans, like what was done in 1929
Giving preditory loans with the highest intrest rates to poor people to make money on the front end is called preditory lending

I have one question, and sorry if someone has already asked, I apologize, but I’m simply wondering what a dollar is worth back in 1929. The three days the stock market was crumbling in 1929 (that week in late october) they lost $30 billion. Today we lost $1.2 trillion… thats a big difference, but I’m wondering if it really is, because if you convert that $1.2 trillion to 1929 days and it compared to $30 billion in a week, that could actually mean something for the future…

So whats $1.2 trillion worth in 1929?

@Mike – more than 130 Democrats voted for it and less than 60 Republicans. It is the Republicans that got us into this disaster. They should man up.

What is going on in TV News land? The press is acting like cheerleaders for the politicians. Just like the runup to the War in Iraq! What makes you think the politicians can fix anything? The Congressmen who voted against this are heros'. All this bill would have done is prop up a collapsing pile dung. Let the Market play out. That is the only way this problem will be fixed.

I'm tired of seeing blame placed on the Democrats for this mess considering they only came into the slim majority in January 2007. If blame is to be place it has to go squarely on the Republicans and President Bush and his administration since they are the ones who pushed through legislation to deregulate the financial industry and who had people in the highest offices who oversaw the enforcement of regulation who did not do the proper enforcements and did not even keep tabs on what was going on closely enough to see this coming. Incompetence seems to play a huge part in this or else there is something more sinister going on. You do have to wonder how it could be that Paulson and Bernanke did not see this coming months ago and sound the alarm then loud and clear.

Anderson,
No problem.... Keep going the breaking news the crisis economy.

Was it really a melt down compared to what was projected....7 or 9 percent down...Can you do a fact check

please, someone needs to explain to 60% of the no voters and supporters that this is not a Wall Street Bailout but an everyone bailout.....

Anderson for Suze

What do you do with your existing 401K. Do you pull your contributions back for awhile and hold on to your money. Or do you just let ride. Do you withdraw money from it and hold on to that?

Hi Anderson,

Today’s bailout completely overshadows the Fed’s $202 billion gift to Citibank. Strategic timing??

Citi paid:
$2B in cash, $12B in stock, $54B in debt.

Citi gets:
Federal insurance on $270B of mortgage securities.

That’s works out to a tidy $202 billion profit, with the added bonus of control over a huge section of America’s bank deposits.

Love your show and your style.

Bernard
Gatineau, Québec

Hi Anderson, Erica, and everyone blogging. With congress between a rock and hard place, voters not wanting bailout, wall street desperately needing a bailout, not good for dem and repub leadership in congress to emphasize partisan differences when bringing this bill to the floor, not quite the right spirit, but I also heard in their comments this afternoon a determination to find a way to go forward. Congress needs to be able to slow down a little bit, a little talking about it helped a lot this weekend.

Hello! As a 27 year old this is really the first recession I have observed. As an individual with historical context, could you please put the present situation in perspective for those of us that are young and in experienced? I watch the news and read the articles, all I see is mass hysteria over the present situation. Is it really that bad or is this a bump in the road? Thanks for your help!

Questions for Suzy Orman: Is it a good idea to buy AIG stocks now????

Can someone show us "the numbers"? In other words, where did $700 billion bail-out number come from and and where will the dollars GO... Maybe it's on a bar napkin somewhere or, heck, maybe even a spreadsheet? Or did we throw a dart at the wall ...

Queston for Suzie.......should I suspend contributions into my 401K?

QUESTION FOR SUZIE:

I was under the impression that the bailout only created artificial "help" because consumer confidence would remain high and later the actual deficit would make the market dropped anyway.

Correct?

hey Suzy... how long do you think this storm is going to last. And will it effect the dollar value in international market

I have recently inherited a stock portfolio that is losing money fast. I am currently living off of it, should I cash it in or try to ride this out.

This a question for Suzie Orman, I have all my money in mutual funds I am 50 years old, and I have lost about 5,000 over the last few weeks,
should I get out now and stop the bleeding, or hang in there

How can I find out how safe my bank is?

Question...

What does this crisis mean for me when I have a home loan to close on next week?

Question for Suze Orman:
As of Oct. 1, I am eligible for a brand new 401k plan. I do not currently have one or have a rollover–but is starting one now a mistake?

What can I, as an average middle class american, do with my money to keep my family safe? Is this whole wall street crash going to effect EVERYONE?

Why don't the Democrats use these two day to write the takeover plan, fire the incompetants, put the crooks in jail and save main street. Let wall street fend for itself.

No Bailout. The Party is over.

Anderson, for Suze, If this is due to bad mortgages, isn't there a better way to get them back on a paying bais? Why can't $700M go to that?

President Bush needs to declare a banking holiday, similar to the one declared by President Roosevelt in 1933, to allow the Government to reconstruct the financial and economic systems.

Looking at the current situation of the market, what is your advice regarding investment in FOREX in Euro or Pound? It may happen that U.S. dollar may lose its value.

hi am a Nigerian and i was just curious, how does the current financial crises affect the value of the American currency when changing to another currency and could this get bad enough that the value of the American dollar goes really low.

Question for Ms. Orman, good or bad idea to withdraw pension funds to pay off all debt (car, student loan, federal tax, credit cards) and restart retirement fund from this point ? I am 44.

What is wrong with Pelosi? If she would have kept her big mouth shut, all that good bipartisan word would not have been in vain. She essentially slapped the faces of those who worked so hard to save our economy by taking a last minute swipe at the GOP, when she thought the bill was going to pass, just to help the dem's presidential candidate. . Nice job speaker of the still do-nothing congress. Don't have a nice vacation.

I understand that FDIC will pay you. My question is what happens when there's literally thousands of people getting money from the FDIC.....will they dry up?

hi everyone..
great to have you all with us today. what do you think about this whole market mess? tough to feel good about your financials these days, eh?

my question to ms suzie is that if she recommends switching your 401k to ira? will that be a safe move?

I put the max into my 401K and in the last 6 month I lost over $25,000. God knows how much I have lost today so ..

1- Should I reduce the amount contributed?
2- Should I move all bonds?

What is going to happen to the value of the dollar?

Ok, what is the back up plan since 12 Republicans and 95 Democrats were not for the bill? Usually in debates, if someone does not agree with an idea, then they usually offer a counter idea. I saw none of that today and I'm getting depressed by this Congress and these politicians. I say we look at our rep. and senators and think twice about re-electing these folks into office.

My question for Suze Orman is this.

I'm 31, and recently quit my job to attend graduate school full time. I transferred my retirement money into an IRA and it's invested in a brokerage account (mutual funds). It has lost nearly $1000 in the week it has been invested. Should I be worried and did I do the right thing?

Erica – Austin, TX

Will be getting a VA loan to purchase a house, but since it seems that rates may be heading downward, should i wait to purchase? Thanks in advance!!!
Kev

How long will it take before we see 25% unemployentment if this mess continues? When the stock market crashed in '29 it took many months before the problems showed up on main street. Will it take that long again?

I heard that multiple Democrats voted against this bill???? As many as 70-90... Are you kidding me to say that 12 Republicans stopped it??? How does our government work? Only 12 people can stop it? Since when does the minority have that much power over such a vote like this? There is no way that this is 100% Republican's fault. The Democrats could have passed it. How many of Nancy Pelosi's own committee members voted for it? Did any vote against it?

Ask Suzie what I should tell my seventh grader who is worried about his Dad's job because of all the economy stuff. Wanting to know what is going on. What is the right thing to say and Suzie, What do you think will happen now?

Question for S. Orman tonight...I will not pull out assets from my 401K, but should I stop or reduce my new payroll contributions until this bail out mess settles down?

I have a Question for Suzi, What can you do it you are 60K upside down on the value of you home to mortgage and your mortgage company will not negotiate with you unless you fall behind and ruin what little credit you have left? Not to mention the fee's to buy the rate down

In February I did not have a good feeling about the market. I sold everything including my 401K and I put all my money in secured CDs. Should I get back in the market now?

My question is this: I have heard a lot about 401k and other investment plans but I have not heard anything about money in a pension, like one a person might have through your union...any advise on this please? Have we lost all of that with the stock market falling?

Thank you...

Assume the bailout is finally passed...what is the outlook for our economy in general. Will this bailout really improve or secure our current economy?

Question for Suzi Orman–I'm 61 yrs old and retired from Fed. Govt. I have the majority of my 401K/Thrift Savings Plan money in stock market. I don't plan on taking anything out until I'm required to by age–should I move it to Govt bonds or let it ride out in stock market????

This question is for Suze:
All this talk about how "today" will control the day to day operations of the financial institutions, but how do you feel the day to day living of the middle class citizen will be effected, that normally live paycheck to paycheck, with little savings these days?

Anderson Watching you live,
Whose fault this MESS IS doesn’t matter at this time. A blame game is so political at such a crucial time. We have heard from both sides the administration is truely untrust worthy. WE NEED A SOLUTION, we don’t care who has it or takes credit for it. Something should have passed today.

Who can we trust on either side, so confusing. I Believe we need prayer! I trust God to work it out, not humans for his light and wisdom can soften tough hearts, humble the prideful and calm the toughest storms….WOW what a storm we are in.

However, I do think accountability for this mess that affects all americans, shareholders, mortgage holders, non-sharholder, non-mortgage holder yet a tax paying American is called for.
Sincerly , Jean Shelton, Ct.

OMG Anderson....I just heard ultra right wing Republican Glen Beck say "There comes a time when you have to do what's right for the country" in support of the crisis package faliure. The sky must be falling after all!!!! But then, he's not up for re-election in a swing state LOL.

People are talking about the wealthy and the middle class but what about us at the bottom who are receiving social security and disability? should we be concerned about our benefits such as medical and medicare if this bill does not pass and the market continues to go down?

I live on MAIN STREET, and my credit card payments are increasing due to late payments because the banks are changing the due dates for one month. They then charge $40 for a late fee, and increase your credit limit. The next month, the due date goes right back to the original date. The only reason that they are changing the dates is to collect fees and raise interest rates. My credit rating is good, and I pay my bills on time. I have been unemployed for four months and I am living off of my savings and unemployment insurance. I cannot afford to pay these high interest rates. The banks should not be allowed to change our due dates! I am a middle class female who did not purchase a home the I could not afford. I pay all of my bills on time. I’ve done everything right, yet, there’s nothing in that bailout package that will help me. It’s only helping financial Institutions and people that received mortgages to purchase houses and equity loans to make upgrades that they couldn’t afford. I do understand that the bailout bill should be passed for the good of the country.

Hi Randi???
I am glad see you!!!! yes I heard that is bad news!!!! no bailout......

I am very concerned as are other citizens. Why can't the Goverment pay checks directly to the homeowner and the mortgage companies being copayees, so that the homeowner can only pay the mortgages.
This would give the homeowners relief and the money will get to the mortgage companies and banks, so that they can continue paying loans out.

or revote this plan in does the public want to loose $250 million or 13 trillion dollars

Hello suze,
I have a quick question for you. I am curious as to whether I should increase my contributions to my 401k or whether I should just max out my Roth IRA and get out of debt for the next year? I have about 70K in student loans and about 10k in collections. I was over 100K in debt and believe it or not in one year I will be left with about 30k in debt (due to my new job)!

Thank you for your help.
Lodz

How about a bailout from the bottom up. Take the 700B and send some of it to every adult. This would provide over $400,000 each. Simple solution to let the taxpayers pay their home loans, pay for health care, pay for education, put money away for retirement, etc. Problem solved !!

i'm glad it didn't get passed. it was too rushed and probably not read very thoroughly. the fine print needs to be read the most or we will be back in this same situation in the not so distant position. but today after all that i got gas pretty cheap, like 20 cents cheaper than yesterday lol...

I already have to pay into Social Security, That I will never see. What should I do Financially now for my retirement starting out. Where in the World is Congress? Its Crunch Time foget about Holidays!!!!

Kevin

Good evening Anderson. I have a question for Suze. If you have some money saved but also have some credit card debt, do you take your savings and payoff the debt or should you hold on to cash and continue paying as much as you can to pay off the debt?

Nothing good ever come out from Washington DC and we got the perfect example today. The house of congress should be ashamed.

will paulson/bush be at work tomorrow?

Suze, If bad mortgages are the reason for this mess, why can't the government bail out Americans who are struggling to pay their mortgages? Would this work?

need advice from suzi Orman. If you have $300,000 in CD's and insured by FDIC. is the safest thing to do with the money is buying a home

Let me rephrase the prior question. I plan on retiring in 10 yrs.
Should I cut my losses now and transfer my portfolio from various mutual funds into a money market within the 401(k)?

Why cant the Democrats vote for the bailout if they believe in it if its the right thing to do. Arent they the majority?

Why can't we approve the bail out and give each tax payer 200,000 of it. Therefore we can pay off our morgages and credit card debt. And by doing this it will creat a stimulous to our system. The money will flow back into the system and recover wall street. And if you take in 190,000,000 tax payers and give 200,000 to them there still is a hellish amount of money left to restructure the banks and the morgage companies. As well as support our troops and infrastructure.

Why are 'we' the American people being ignored in this? We did our part, we called our representatives. Not because we don't understand what's happening (I read the bill as drafted) and I saw what it would not fix, it was a toothpick to prop up a mountain with out real substantial change behind it.

Can Suzie tell me what to do with my Retirement fund. I have TIAF- CREF. I am 53 . What should I call and tell them to do with my account tommorrow.

I am a 31 year old recently divorced mother of 3. I had to move home with my parents in December of 07 and now needing to move out on our own. I am only part-time at my job but worried about moving to a new job that is full-time with the way things are. I have a little bit saved up and have to pay all of my boys' daycare and I am so scared about getting out on my own and not being able to feed my children among other things. But I know I cannot stay in a 3 bedroom ranch with my 3 boys and 3 adults, it is just not working. Are the government funding for WIC, food stamps and other helpful benefits going to be affected by this mess as well?

What should your average American do? Should we take money out of the bank and keep it home? Or will that just make things worse?

I currently don't have a retirement account but can join in October – employer matches 3 percent. Should I wait a year and use the cash to pay down my credit card (18%) or sign up for the minimum.? 48 years old. Thanks

Question for Suze Orman

We don't trust the President. We don't trust Congress. We don't trust corporate America or Wall Street. I think we said that today. Congress heard us, then took a holiday.

I have a question for Suzie Orman:
I am about to close on a sale of property and will recieve over $100,000 for the sale of the property. I paid cash for the property when I purchased it and will make some profit. What should I do with the money? Should I invest it in the market, buy gold, put it under my mattress (my grandmother's suggestion) or just put it in the bank?

I wish our leaders would actually lead instead of playing politics and patting themselves on the back. I applaud those that did not vote the bill in, those are the ones that do not get bullied or panicked into passing a bad bill. Most that have voted the bill in do not even like the bill, however, they have fallen for the scare tactics that the Bush administration is known for. A bad bill is not better then no bill. Scrap the bill and start over without being panicked to accept a bill that no one wants.

They will be fired on Nov the 4th Just watch.We are fed up with this polotics and congress has no regard for the American People.

Please no bailout. Please don't lend the market $700 Billion dollars that we don't have. Isn't that how this whole mess started, borrowing money to people who can't pay it back. Let the market find its own bottom. Not one held up by money we don't have.

People are talking about the wealthy and the middle class but what about us at the bottom who are receiving social security and disability? should we be concerned about our benefits such as medical and medicare if this bill does not pass and the market continues to go down?

Good question, Larry. Maybe Anderson will also pick this question to ask Suze.

Two questions for Suze Orman: I have heard it takes a day or two for FDIC to step in for a failed bank. My questions are (1) Where can I go to see the condition of my bank? (2) Would it be practical to have a day or two of emergency cash on hand in case of bank failure? (I do not carry cash, using cash cards instead)

my question is for suze orman. I took a 5/1 arm and the mortgage will need to be refinanced by next may. I don't know what to do. My property went up 40% and now it is back to what i bought it for. I don't know whether to refinance now or wait till next year. My property is in los angeles. My rate was great, 4.3% and now i am looking for a higher rate. I am thankful that i have a good job and i don't have any other debt but this home. I'd love your feedback from those people like me that took these loans but i was mindful whether i could afford it so I took this seriously. I only put down 10% but put some money in fixing the place in order to increase the value

I am afraid that we are not going to see the results of the failure of the bailout until all banks shut down or something worse.

Not sure how anyone can go home when we have not solved the financial problem.

We pay them to represent us lets not pay them.

No work no pay.

I respectfully disagree with Mr. Gergen. I am totally against this bailout and I am glad it failed. We as Americans have to stop spending money we don't have. I am totally against throwing $700B of tax dollars at this problem when nobody has even said this plan would work. Name me one politician that said this plan would solve the problem and would guarantee that they won't come crying for more money later on. Also, if so much of one dollar of taxpayer money is used, I want names! Who is responsible? Who is going to jail????

no one to blame but ourselves, if we didn't go out and get a bunch of credit cards and buy things we can't afford, I don't think we would be in this situation. wouldn't ii be a good idea to cut budgets on other things such as enlistment bonuses and use that money to help the econmoy? over half of the soldiers in the army get a huge enlistment bonus, I recieved $25,000 for fours years of service and others got $40,000 for a six year contract. can we really afford to give out money to new recrutes? the military waste money likes its nothing, I see it everyday, I've been in for over seven years. I think we need to learn how to re-budget our military as well other things and get our priorities straight.

Hi. I have a question for Suze Orman. I have my retirement accounts at Vanguard, which is not FDIC insured. Is that a risk? Should I move my money to another institution which is FDIC insured?

For Susie Orman:

With over 41% of American Homes "upside-down" do to the current Economic crisis what are your suggestions for getting the Lender to "write down" my Loan, and if the 700 Billion dollar Bail-Out had passed would it have offered any relief?

Thank you

Hi Anderson, I am sure glad the bill did NOT pass. Do your views know that almost 20% of this 700 billion is going to go to ACORN. What a rip. Poor ole Nancy, she don't know the difference between the Punch Bowl and the Toilet Bowl. More trash mouth politics from Her and Barney.

You do what's right for the country, but the compressed time frame, there's not much time to get discomfitted house members calmed down. Not much time for back and forth communication all around

Question for Suzy Orman:
Why do I still get Credit Card offers, Car Sales and promotional financing everyday in the mail? If the credit markets are frozen, shouldn't this stop? I work in printing, and I know how much this costs to produce and mail.

Anderson, Question for Suzie O.:
Do you think it will become more difficult to access money in bank / savings accounts? Is it best to keep more cash in your pocket or stashed at home vs. in the bank?

thanks.

Hey Randi!! Have fun taking over for Erica the next few days on the webcast!

To Suzi-with all that has happened, should we all tighten our belts and cut back on spending? Won't this hurt the economy, especially with the holidays coming up?

Does everyone understand that if a bank fails that the
FDIC has 99 years to pay!!

Pelosi was talking about Wall St GREED and regulating and Taxing markets. Not The Republicans...

Suze,
My question for you......
Is there find way to solve problem without bailout or lend to anyone back their feet???? or can we save our money? where is my money goes? or how can we save our money without problem?

Ms. Orman – with retirement funds thru Goldman, mortgage thru citibank and stocks thru smith barney, should we move it all to something safer. wish the credit card companies would go under and forgive our debt.....

Hello Suze,
Am I correct in understanding if a person has more than $850,000 in a single certificate of deposit under an individual name, should the individual go into their bank and add named beneficiaries to the account in order to insure it, or should the money be transferred to other banks? Please help, I have an elderly neighbor who is really worried about this as they have already lived through one depression.

Suze:

Do you see inflation in the near future?

Donna from San Diego

Queston for Suzie: Should I cash out my 401K into a money market account if I already lost 30%.

@Leslie Taylor: Very well said. I am an average American who don't have the funds to invest in the market. My home was foreclosed when the interest rates went up and I couldn't afford the payments. I don't understand what giving the market 700 billion dollars of my tax money will do for me and anyone else in my position. Let the companies fall, they deserve it.

suze me and my wifes portfolio was worth 1 million 1hunderd thousand dollors a month ago today its worth 800 thousand dollors what do we do sell or hold steady . bleeding in texas

Suze and Anderson – I live near the Texas coast and every hurricane season we are reminded to get our "Hurricane Preparedness" kit ready. In view of the downturn of the economy, what do you recommend that average middle class people do as far as lifestyle changes for a "Recession Preparedness" strategy? I am trying to figure out how I need to plan ahead for my family. If things get worse, what comforts of life should we be prepared to give up first?

let me clarify the checks I am talking about is instead of paying the money to Wall street, they pay the money to the homeowners with copayee as the lending institutions

We need a change in our adminstration now so we could pull out of Iraq and save a lot of money of tax payors?? Mccain will defintly not help us out this crisis.

What would you do if you had a lot of money in the money market at a bank .
I know about the FDIC and its policy.
But what if something happens to the FDIC.

Suzie: I am 23 and setting up my retierment. Should I do a Roth or basic IRA now???

Kevin

I lost $47,000 dollars today about 9% of my portfolio. My investment manager remains silent but yet I hate to bother him knowing everyone else is losing money also. Should my investment manager have any constructive answers to help me minimize my losses at this point in time, since we are deep in this mess?

I wish I could have Suzy O advise if I am better off taking the tax hit and cashing out part of my investments to pay off all of my credit card and mortgage debt so that I only have to manage property taxes, utilities, gas and food. This is pathetic!!!!!!!!

How could lawmakers go on holiday? When I have a crisis at work, I go in on the weekend, stay late etc...whatever needs to be done to get the job done. They just go on holiday....it is discouraging.

The banks and finance companies that bought the derivatives did so to mitigate risk.

The executives of the bank and finance companies that were counter-parties to these derivatives told their boards of directors and investors that there was no risk. There for all the interest and premiums were pure profit.

All the interest supposedly being "pure profits" meant extravagant bonuses.

If the interest and premiums had been held as reserve against the changing market conditions, instead of being paid out as bonuses, no bail out would have been required.

I am from the Red State of Kansas but I am 100% for the Resolution that was voted on today!!!

Suzie or Anderson,
With such a huge influence that hundreds of lawmakers had on the market today, my first thought is the pontential for "insider trading" in the hill; especially when the bill was expected to pass and yet a few had the knowledge that it would not. Am I paranoid?

I think the way the bill was presented to the public was wrong. It should have been called a bail out for "All Streets" instead of just Wall Street. Calling it a wall street bailout caused the Republicans to play politics because they knew the public did not understand it and that the majority of Americans would oppose a so called Wall Street Bailout, so the Republicans voted against it strictly to gain political points.

Jacob,
As a 23 year veteran (retiring next summer) Youare sooooo right!

Hi Susan

We have a credit card w/ a limit of $5000.00. We have a extra $1500.00 on hand to pay on the card. We have a total of 3241.00 own on the card. We are walking in to a new home mortage. Should we pay it on the card or hold on to it and add it to the 6 month fund??

Where does the lost money go to? The money did not dissapear, it went somewhere?

I wish people would just wake up and listen to what Suzi is saying right now – we are not bailing out "Wall Street" - we're bailing out ourselves. Most of us are so linked and dependent on the markets. Wake up America - we need Wall Street!!!!

Question for Suze:

Hello live in the central valley. My home has depreciated 150,000 dollars (Bought in 2005). My neighborhood has become undesirable (section 8, foreclosures, rentals etc). I want to walk away from this home, but securing a home in a more desireable neighborhood first. I make good money and have no debt. I accept that I made a bad business decission and I am writing it off as that. Why should I not walk away. The banks are not willing to reacess my home for its current value.

Question for Suzi Orman,

I am a single mom who work very hard to support my family, 43 yrs old have $100k in mutual funds, $50k in 401K, and $350k in CDs in 4 different banks all FDIC insured. I am worried about the Safety of my money in the bank. I do not own a house becuase I sold the one I had a few months ago to move to California.

Roland Martin is correct that the American people do not understand it. The reason for this is massive but most it is because we are being inundated by so called leading financial experts and economist with different opinions. On one station we hear that indeed the sky is falling and on another we hear that this is just another scam to line the pockets of the "big wheeler-dealers". Fear can either paralyze or act as a catalyst. I believe this is such a huge decision placed in the hands of Congress men and women who are not professional financial specialist; more information needs to be transparent to all of us.

My question to Ms. Orman..if the market rebounds and goes back up, not that I tihnk it will,but if it does,,,does that mean the market recovers 1.2 trillion ???

Suzi-Its on paper. The markets will adjust and eventually go back up..

Today not only big companies lost huge dollars. The biggest losers were the everyday worker who now have lost their ability to credit as well. How will the "new" USA" live without credit?

This is a question for Susie O
My mom has POA for her life partner's finances. The majority is tied up in the stock market. It lost $11,000.00 today. Should she pull the rest out now or try to ride it out. The money is used for healthcare. What would you do?

This is extraordinary evidence of the isolation of our elected officials. They don't share our health insurance problems, they pay into their own retirement funds, and they get paid wheather they perform or not.
It's not Wall Street that got us here, it's the professional politicians.

My retirement is not secured, I pay my own insurance, and if I don't perform or my employer gets hit by the credit market failure I'm out the door.

My husband & I currently have approximately 500K in cash – in savings accounts (FDIC insured). We are in our late 30s, no kids.
We are too scared to put our money into anything (stocks, etc) at this point, so can you please tell me when would be a good time to invest and in what?
Should we wait until this passes and just keep the money where it is right now?

Anderson,

I'm an engineer not an economist but why don't we go back to basics. Let's start restoring confidence with the public by increasing the FDIC insurance amount of banking accounts to $200-500K. This may stop the run to the banks. Subsequently, we can structure an economic bailout.

@Larry Wrote...Why is all of this economic backlash ignored the fact that in 1999 ‘alleged’ collusion by Acorn, Illinois State Sen. Obama and President Clinton ‘encouraged’....

There's nothing wrong with expanding home ownership to those with less than stellar credit. There is something wrong with giving them home loans that double and tripple after 3 to 5 years. The banks thought they could pass the risk to others. I have missed a payment on a credit card and have a different one raise my rates from 9.9% to 24.99% because of it.

The worrisome factors if Asian stocks continue to tumble and with all the rumors flying around of bank collapses is that foreign banks have hardly any protection. For a fact banks in India, insure only a paltry $2500 compared to the $100,000 here in the US.

Here's a practical question for Suze Orman: If I can borrow money at 5% from my 401-K, wouldn't it be smarter to borow the money, pay myself 5% and pay off my credit card debt? I have about $10,000 in credit card debt at > 10% interest (2 kids in college) and am paying well above the monthly minimums, but this market has me thinking that I should eliminate the debt and pay myself first. I continue to contribute to my 401-K as well.

Ted
Allentown PA

A friend told me, that the time limit for the FDIC Insurance Company can be up to 75 yrs., to pay out the customer.. Is this true that the time limit can be up to 75 yrs before I can recieve my money back if a Bank fails?

Constituents only have influence where the elected representatives have their seats up for grabs. The rest will do whatever pleases them, regardless of their constituents and regardless of whatever party they are.

I want to ask those who don't want a bailout, do they have investments or need student loans.

I am an average joe and barely make enough money. Everything that I can safe I have put it away through investments. Now what little I have put in is going fast.

I am really nervous now. All my hard work to put money away for my future in order to use and open my own business when I graduate is going down the drain.

I see my future going down the drain fast and really worried if not scared.

Suzy, what will happen tomorrow? Will we keep losing a trilion $$$ per day until Congress is back from break? How much time do we have?? Today it sounds like we are 1.9 trillion in the hole, the loss of today and then the 700 Billion.

Anyone: Are credit cards the next house of cards? They are often given without security, especially to students in college.

Suzie,
Where do I start. I follow and belive your philosophies. I am trying to raise a family we have $100,000. in savings thankmy listening to you as a real Estate agent tax paying mother of 4 should I buy stocks or real estate or leave it in the bank. As a real estate agent maried to a carpenter what should we do.
Catriona Sutton

I hate the bailout but Congress must pass somthing to save our economy and make it read so this can never, ever happen again,
no matter who is in office in Washington.

When will credit be available? I need to refinance by december..what are my options?

Hope all relies that this goes fall beyond the American makets as the Canadian makets fell 800 points and the world makets are falling now . It may be election time now but now is a time for all to become one and solve and problem that not show well for the US

Hey Suze, thanks to you (your books) I am debt free and I have a Roth IRA. Thank you!!!

Not only have we lost our moral compass but it seems that we have lost any sense of what this country needs. To the Congress...time is of the essence. This is not the time for the blame game. Just work together to solve the problem. So what if mommy scolded you. Grow up and do your job and save this sinking ship of an economy!

Suze, I work with a mortgage company as an underwriter. Credit was being tightened well before this for individuals. After this, people will still not be able to get loans unless they have GOOD credit. It is a lose lose. You may be able to keep your job but you will still not be able to obtain credit as in the past as many financial analysts and economist are saying.

HELP,

I have all my college money for my 4 kids in college trust mutual funds. should i sell tomorrow and turn into cash?

Many Farm families have huge debt on there farm. The farm industry relies on cash flow so these debts are a necessary part of business. What happens to us and what should we do.

I have some savings in a money market account. Should I worry about that since its not FDIC insured ?

In order to stimulate the credit markets and get people spending, how about paying off consumer’s credit card debts?

I was trying to pay off two Credit Cards with very high APR's – but now I'm wondering if I should be focusing on saving money instead of putting it into my credit card debt – which one is the smarter choice given the times ahead?

Should I be worried about get a student loan for college?
Please anwser, I'm Worried!

I have a few thousand dollars I have been saving for a good investment opportunity. Should I jump in now while the market is low, or should I hold on to it closely until the panic is over?

Question for Suzie:
WHy should somebody who uses credit wisely care about the pain of those who use credit unwisely?

What negative affect would be created if Congress passed a new bill giving tax payers some of this 700 billion to pay mortgages placing money into the market from the tax payer up?

Suze, should I sell my treasury bonds and invest the money in a house to rent out in the Houston area?

I'm a 30 yr old with about 20k in emerging markets (B.R.I.C.) mutual fund. This is 2/3rds of my total savings.

Should I get out now?

should I continue to pay into my 401 k? currently I invest about $100. a week.
Thank you , Marie

A question for Suze. We have 2 houses, a rental that does not cover it's overall costs, and a larger home. We want to sell out larger house and move into the smaller rental in an attempt to reduce our outflow. Any suggestions given the difficulties with the credit markets?

I am really scared at what is happening with the bail out. What can we do as citizens to get congress to pass the bill. Is there anything we can do can we e-mail to congress our thoughts.

Anderson this is for Suzi, I inherited a Bond Fund do I have to worry about it? Could I lose all my money in it or do I just leave it alone and hope for the best?

This situation scares me to death. I'm considering stopping all contributions to m 401k to increase my cash flow. is this wise??

I have several credit cards that are nearly at their limit. With my interest rates go up because of the crisis in the market?

If you owe credit card debt right now how should you get out of that debt not if you cannot transfer high rates of interest to low interest rate cards.

Susie;

I'm currently contributing 25% of my paycheck to my 401K, should I stop altogether or reduce my contribution to 5% to get my company match?

Ask Suzi:
Should I freeze my 401K through this crisis so we don't loose any more money. We are 44 & 40 years old?

The government could pay off most people's morgages in the country for waaaay cheaper than this bailout.

Hey Anderson, question for Suze Norman. My father is 66 years old and has about 120K in his 401k but yet goes to work and is employed. Can he take out lets say half of his money and put it in his savings without penalty?

what is the gverment insured amount of a joint credit union account?100,000 or 200,000

If we have more than $100,00 in a money market fund, should we move portions of it to other money markets to be sure we are insured?

Suze, to protect 401(k) money should we borrow against it and keep the borrowed funds in an fdic insured account. We can repay the 401(k) in full with the funds–we can keep track of interest we paying on the loan–at this point we are losing more than the interest we would have to pay on the borrowed funds. What do you think? Also, should we stop the weekly contributions?

Is now a good time to purchase precious metals in the form of coins, etc.?

Suzie, I have a pension paid for by my job. I also have a 401 k plan which I put in to. Through Wacohvia Know what?
Ken, Wyoming

Love you, Suze!

Who's a better investment for America's economic future? Obama/Biden or McCain/Palin?

Question for Suzie... Should americans take their 401 k money and pay off debt? Especially if they are not retiring for another 25-30 yrs

so if you do have some cash stashed, isn't this a good time to jump in the stock market and take advantage of the drops? and what should you buy? Help Suze!

We are a couple in our early 30's who has approximately $5000 that we would like to invest. What would you advise that we do with our cash?

I am in the minority - a first time home buyer. R 30 yr fixed interest rates headed up or down?

Is this the Right Time to buy a home in chicago.

I have cash in a credit union that is not totaly insured. Is it advisable to put the excess in tax free municipal bonds ? Are they safe , considering that the major insurers of these bonds have been degraded and they may not be able to cover the principals ?

Hi Erica@ anderson

I would like to know what is in level 3 of all this securities that we are buying from this banks.
I paid taxes, like most american, , It should be and open book of what is this bailout. i agree we need to do something, how ever i need to know what is this "soup" of this bailout.( l personal lost 30,000.00 in the stock market) So i feel the pain, i work pretty hard. i believe we need to have regulation and do the bailout. (even if i feel pretty angry that we have to do it)thanks, maria

Suzie....Annuities....
I have funds in an ING Annuity that is not State Insured...should I move it @8% penalty....

Suzie,

Is it a good time now/tommorow to invest in individual stocks with such low prices?

Mark
Madison, WI

Suze
what do we do now with our mutual fund IRA. convert it to money market? cash it out and buy gold??

I'm only 31 and have a 401k. How can I make some money with this market downturn? Should i just take some money out of a savings account to buy "blue chip" stocks like IBM or Apple now that they've also gone very low?

AC;
Keeping them honest: Your economics guy stating the big corporations borrow from banks to meet payroll – that's not keeping it honest. Banks would look at that as bad lending. Working capital loans are for growth, equipment funding, short-term needs – not the paycheck going to an employee.

Any company in that need would be on the brink of failure.

Please ask Suze.

I currently fund my Vangaurd IRA every month, appox. 600.00. Should I continue?

I have a domestic partner. We are in our early 40's. Still paying off credit card debt, and we own a home.

Danny, Midland, Texas September 29th, 2008 10:20 pm ET

I am afraid that we are not going to see the results of the failure of the bailout until all banks shut down or something worse.

Yes Danny..... I agree with you..... I am afraid that too... we are going broke.......... or we lose our money......

What about retirement accounts like my teamster pension? Where do they invest the money?

Hi Suzie,

If the problem is that credit is not easily available to the banks, why not the fed give the banks a loan at a low rate? Will that not solve the problem? Just a naive question.

Pat

Question for Suzie....
If I have some cash right now, is there any smart place for it? I hate to take advantage of a horrible situation, but is there any way to possible come out ahead thru this? or should I just leave it in my mattress?

I have a question for Suze Orman. I use credit cards for everything, but pay them off each month. Could this "credit crisis" affect my ability to use my credit cards in the future?

Hi Anderson, hi Suzie:
I'm trying not to panic. Please tell me what to do with the $21,000.00 that is left in my 401k plan. I cannot just watch it dwindle away anymore. I am 40 yrs old with a young family and I lost my job and our house. My husband's income is barely enough. This is a wake up call for us all to pull together and vote out the Republicans for the good of our country.

Question for Suze:

I've been contributing to my 401K through work for about a year now. Should I stop contributing and put my money into savings instead? I'm only 34 years old and am in it for the long haul, but what if my money evaporates and there is no long haul?

Could this be a good time to buy a house?
Thanks

Can someone please explain – how come our congressional leader fail us again saying 'someone's speech' alienated them so that they had to vote against the future of our country. Do they know what they are talking about? Do they know the present situation that we are facing?

Shame on them! I will make sure that they never ever represent the people again.

AC -

Can't the president force the house to come back and work out a new deal to bring up for a vote? Seems like something that should be in his power.....

Regards – JP

I lost money in my 401k today due to the market. Susie, do you suggest taking out the rest of the money in my 401k and transfering it into an IRA that is backed ny the FDCI ?

Anderson,

Good Evening! My question is for Suze. I have $100000 sitting in the bank and also have 8 months of savings for emergency need. Should i put that $100000 to pay off part of my mortgage?

Question for Suze Orman. I've heard that bonds are a good investment in these times, but what kind of bonds. Savings bonds, government bonds, munibonds? This is very confusing.

What is going to happen when China pulls all their investiments from the USA because of the low payback?

For Suzie,

If I have liquid cash, what is the best thing to do with it right now?

Suze –
I'm in a position this week to pay off my home equity line, CC debt, as well as a small business loan. Now i'm wondering if I should keep the cash and not pay off the loans?
thanks

If I Have $120K in a single account in a bank is the entire amount covered under FDIC if I put my child on as "POD"

What's the point of keepingyour money in FDIC isured banks if the dollar goes under...sure you'll get your money back but it wont be worth anything. Wouldn't it be wise to invest in gold?

I'm not sure if anyone was actually "for" the rescue plan or bailout, whatever you want to call it. I am also for those in Congress representing their constituents, but when does the common good for the country overrule that? It is about those on "main street" but not at the same time. We are trying to create an either/or situation when it really isn't.

Dear Anderson, Suzie and Ali:

How do you think the financial crisis will affect Social Scurity Disability payments?

HEY SUZE!

I’m a nurse and my finace is a teacher (both so-called “recession-proof” jobs) and are both employed full time. My question is that when the time comes for us to buy a house, will the money be there for us? We are both in our mid 20s, so we have some time, but how long will we have to wait?

thanks

I am a recent college graduate and I opened a mutual fund account after all the advisement I received while in college and now I'm afraid to keep inputing money since it drops everyday. What should I do?

I like your show and particularly like David Gergen and Ed Rollins.

Hello everyone - this is an alarming night. Yes, all of you who are deeply offended by the outrages on Wall Street are absolutely right. Earlier this year, after all, the financial firms paid out some $30 billion in bonuses to their folks - and now we as taxpayers have to keep them afloat. Yes, there is good reason to be angry.

But there is a real danger here that if we don't act, we will be engulfed in a much, much bigger catastrophe that will punish every one of our families, no matter what your economic position. Please remember that in the amended, compromise bill that was voted on today, there were specific provisions that within a short number of years, if the U.S. government had not fully made up the losses it suffers in buying up these toxic mortgages, it can tax or force these financial companies to pay the difference. This is one of many safeguards that has been built in to protect us as taxpayers. So, I see this as a matter of investing in some insurance to protect ourselves and the rest of the country.

Please remember this, too: this bill is now pegged at $700 billion and all of us gag at that number. But we send about $500 billion a year - every year - to petrodictators overseas when we buy foreign oil. Let's please keep this in perspective.

And good for Suzie Orman to tell us some hard truths - and to help us through this.

I'm 57, single and have very little in my 401K (30,000). I also have about $12K in credit card debt. Should I take my money out of 401K and pay off my credit cards off. Once the off the credit cards I would have more money for savings (currently on $1,200 in savings).

Is it possible that in couple years we have repeat with credit card debt?

Anderson , If so many people in Congress don't trust the Paulson and
the President why did they not bring in Experts to advise both party's while they were coming up with a plan?

Suze,

I've been sitting on 150K cash. Should I invest now as lump sum or dollar cost average in or just hold onto cash?

question for Suzie Orman....
In these financial times would you recommend an Index fund annuity?
Are they a safe place for one's money?

I keep hearing about companies' credit will be possibly frozen if there is no bailout resolution. How long does Washington have before Main Street's paychecks are affected/frozen?

Should we all start cashing any paychecks that we have set aside to cash later?

Do you think the term "bailout" should be used? Also, do you think this term possibly made the people think we were simply getting Wall Street out of trouble. Should the press STOP using the wording "bailout?"

Anderson, why does everyone in the media want us to panic today? Do you all not realize most people already went through the panic stage 10 mos ago when we saw our house values plummet?

I am 52 and rolled my 401 K to an IRA. I have some credit card debt. I plan to retire and 67. So far I have lost 17,000.00. Do you think I can make this up? We also have a second home.

(for Susie) Before this catastrophe, retirees who had invested in the stock market, for years, and were always advised to "stay in it for the long haul". What's your advice for those people who are retiring now and "the long haul" is now?

Suzie:
With the current crises, wouldn't it make sense to have all subprime mortgages that are in trouble to go down to 1% and extend their loans by 30 years?

For every game, there is a winner and a loser....we have all seen who the bottom line loosers are for this.....who are the winners in this. Is this the time that the rich buy everything up?

I am 58 years old and planning on retiring in 4 years. My 401K is 100% stock mutural. I have unrealized losses of 14% YTD. What should I do??

Suze, is now the time to buy a home. Prices are down and my husband I would like to have home built, but are afraid because of the economy. Is this a good time?

Nikkita, Jacksonville, FL

I'm 21 – I have no concern over my 401K and I recently bought a condo at a good price. But I have a significant amount of money in a money market fund with Fidelity. Is that savings REALLY safe?!?

I have cash, I'm young, and have no debt. what is the best thing to do with my extra cash right now?

You I been saving over the past year and 2 weeks ago was going to Meryll Lynch to speak to a broker about investing in an IRA (roth) both my husband and I. But now I'm so afraid to invest right now. I'm 27 years old and a Registered Nurse and have $23,000 saved. Should I invest now in IRA or wait until market gets better

I recently rolled my 401k into mutual funds, ( March This year)
my questions are
1 – Do I continue to invest each month or do I hold off until this all blows over?
2 – do I simply take the loss and pull all my money out now?

The entire concept of "credit" is in part to blame for the current crisis - Why does the entire economy depend upon individuals and businesses borrowing money to pay for things they can't afford. If a business has to borrow money to meet their payroll, then they shouldn't be in business,

Ali mentioned that Banks will not lend money for Car Loan, Home Loan etc if bail out plan is not passed. Why is it so. Why cant banks continue to do business. Or are these instituitions taking this opportunity scare and get their bad loans out of their books

I am a 73 year old retiree living on pension and SS how will this affect my retirement?

I took the equity out of my home earlier this year to do some major improvements. I am now concerned about recoup the cost of the improvements if the housing market declines but concerned about leaving the funds in the bank. What is the best thing to do?

I'm in the process of refinancing my mortage, wil this crisis effect me getting the loan. How hard is it to get a loan?

QUESTION:

Isn't this simply a matter of an economy (Global) being over heated by Pretend Money (Poor credit extensions) coming to terms with the reality of the true values, rather than the over heated values? And wouldn't this additional artificial influx of credit (Pretend Money) simply perpetuate the artificially high prices till someone else has to take care of it? Shouldn't we rip off the bandage now and get it over with?

My hubby is 65, I'm 61.
I'm trying to sell the house. Should we try and sell the house...or sit on it and wait this nighmare out? How about reverse mortgage?

Hey Suzie- My wife and I are 25, debt free, descent jobs with 401K, a Roth IRA, and quite a bit in savings. Any advice?

we are both 60 have 2 rentals and our home , we have 400k in Pace what should we do both newly retired

Anderson, You know these politician are irresponsible...Let's start a movement, all incumbents voted out....everyone talks about change...the politicians have messed with the masses, let's vote the bums out and demand real change

Question for Suze Orman:

If you are in the process of making big lump sum monthly cash payments to pay off a credit card. Do you continue to make lump sum payments or pay the minimum until the market calms down?

I think that for a representative not to vote for a bailout plan due to not liking "big government" is basically not governing. The consequences of not acting are too great...just look at today's markets. The government is already "big"...it is not going to shrink. Taxes are already high...let's hope the reps put the tax dollars to good use, patch the economy, halt the special funding addons for a few months.

Can you explain the bail out plan to those of us who understand math but don't understand economics?

Why not make this an economic stimulus plan that turns into $2.3 million for every man, woman and child in the U.S.??

Roger from Columbia, MO

I was going to buy a house in January, serious considerations whether or not to continue – Whaddya think?

Hi Suze! I'm a 28-year old project manager and I'm looking to buy my first home. I can afford a 20% downpayment, live in San Diego, and have good job security. Do you recommend buying now? I plan to be in San Diego for at least 5 more years. Thanks! Lauren, San Diego

Susie already said it-==People It is now a Pay as you go. If you don't have the money wait to by it.

There is respolsibility in handleing Money! So any one getting a bailout must cut all frills to help get the ballace going.

Mr. Gergen,

Given that this band-aide may plug this hole in the bucket. What do you recommend as a long term solution to America's woes?

I am 49 years old and have a diversified portfolio. My mutual funds have lost a lot of value what should i do?

Hi Suze,

With stocks, people are losing all this money but where is all this money going? Who gets to keep all this money?
When you go to Vegas and you lose money to a casino, we know the house keeps that money.

Question for Suze: No credit card debt, have mortgage, still you recommend to put money in 401K and max out, I have over 20 years to retire – what you suggest

Some of the information coming our way seems so rapid fire....Suze is a veritable warehouse of insight... but wow, do the thoughts move quickly. thanks

My husband and i are in our early 30's. We are about to settle on a second home property. This was to be our retirement investment, we do not have a 401K. Are we making a mistake?

Is it possible that in couple years we have repeat with credit card debt? Should goverment intervine?

Thanks Suze, you always have great advice and solutions and explain it all in terms most of us can understand.

Good question Denine. I am in the same boat. Now I am wondering whether I will have money when I get out of college.

Why is the death of the bailout presented as a failure? Mortgage backed securities was a ponzi and government did not regulate it. Shockingly, all the false, inflated value disappeared – we really can't loose what we never had...

Suzie,
I have tiaa-cref with 77% in equites, 12% in real estate and 10% in guarentees. I have 10 years before retirement should I change my allocation?

This economic mess is very dire. So why don't we have more interviews with economist rather than political journalist? I am having trouble understanding why it is so urgent to pass the current bill rather than initiating new discussions and/or perhaps starting from scratch, assuming everyone is opposed to the present bill.

i just brought a home and my home has a fixed rate of 6.78%,do you think it's a high rate .Do you think i need to refinance.And i'am not in debt,I have a few credit cards 3 cards,3000.00 and a daughter in college. I'am 44yrs old,

I am 30 years old and would consider myself fairly liquid. I have matched my 401K, zero debt besides a house, double income, one child and at least 25 years till retirement. I currently have a 529 plan for my child, mutual funds and a traditional roth. What should I do with my excess cash?

I want to know instead of the bailout why dont they pay off everyones debt up to so much and that would give credit companies and banks some money back and and give most americans a chance to get caught up.

Anderson why can't the banks go to the govt for loans? Why must it be a govt bail out.

Question for Suze:

I have lupus. How would someone who has an incurable, potentially life threatening medical condition invest?

I have been carefully watching what is happening and can only stand in awe at the fact that people are not realizing how serious today's events are for the nation and the world. Perhaps it is a sad lesson that many citizens will have to learn the hard way.
Thanks so much for all the news. Love 360!!
claudia

Question for Suze:

I keep hearing that money market funds are safe. I belong to a Credit Union, which is covered by NCUA. Are money market funds invested with a credit union covered by NCUA?

Suzie: great point. It is not the governments responsibility to "take care of us". It is OUR responsibility. This is a great lesson about allowing the government to run YOUR health insurance. They can't manage anything.

I am in the process of refinancing my home in the Texas area.

How will this "777 Crash" affect mortgage interest rates? My credit score is very good...will that 'matter' any more to mortgage bankers and brokers?

Bottomw line: Do you foresee mortgage/loan interest rates sky-rocketing?

When it comes to discussing Sarah Palin, Bay Buchanan is like most other Republican leaders on a wide array of Republican failures – full of lame excuses.

Wow – That is so cool that David Gergen is on this blog – thank you, you have been one of my heros for years.

My 401k has been cut in half in the last two weeks. ...I am past my company match, so should I just quit looking at it every day or suck it up and put in in a savings account., with huge penalty of course.I'm 37, and it's down to about 19k...

Question for Suze:
I am 34 and am afraid that we are going to enter into another Great Depression. What should I do with my IRA? let it ride it out? or sell everything (while leaving it in my IRA) and hold the cash to ride out the storm?

The more Sarah Palin talks the more she sounds like some teenager raised in Chatsworth or the San Fernando VALLEY in California. It's not appealing and doesn't instill confidence.

Thank you for explaining and helping middle class America get through these bad economic times.

Susie – What would you do if you could purpose a bill to congress to get us out of this mess – I feel like were stuck in a serious catch 22 with the current bail out plan

I,m Disabled, I have no debt. But I can barely make it now month to month, Gas prices are high , medical bills are high, and medications costs have gone up. What do the little people do? Would this Bill affect me?

My husband was deployed to Irak last year for 15 months and he missed Thanksgiving (twice), Christmas, our anniversary (twice), our sons birthdays (twice for the oldest), Easter, etc... But our politicians have no problem taking time off in the middle of the worst financial crisis of the century and after today's disaster. It's irresponsable!

In June I retired and transferred all my 401K savings into a Vanguard Target Retirement Account (approximately 60% bonds and 35% stocks, 5% international. Is it too late to protect my investments or prevent further losses by transferring or withdrawing this money. If so, what vehicle would you recommend to offer the most protection against future losses?

Thank you!

Hi Suze, I'm worried about my indexed annuity linked to the S&P – however it does have a 3% guarantee. Was it a huge mistake to buy into this? It looks like it is not insured with the SIPC to boot. Huge mistake huh? I know, I know....

Would it not be a better use of bailout money to do another stimulus payment to the average american of $100,000-$200,000? I am thinking that it would be better to try a trickle up effect for a change. In my opinion this would stimulate the economy by those americans who will spend as well as those who will save or invest. It will allow those on wall street and homeowners alike a survival of the fittest situation and for the market to correct itself over time. Also, less expensive to the taxpayer.

Anderson, Is it true that the top level handlers of the McCain campaign that were training Palin for the debate, after the latest practice debate actually said it was an absolute disaster and that they actually said "What are we going to do, this is something we cannot
overc ome!"

Evening Anderson. I agree with David; if we do not pass a bill now, America's crippled economy will affect us in ways unimaginable. We must all pull together as a nation to overcome these tragic circumstances.

Gotcha journalism? Palin was interviewed by 3 perfectly qualified journalists and there is no need to cry about the outcome. They did not put words in her mouth. Lets face it, they couldn't write those answers. Somebody needs to teach her the words "I don't know" , it's better than just making stuff up.

Mr. Gergen
How can they take this time off in the middle of all this. How do we find out who voted how and who took the time off.

For Suzy

My son is comign into a large insurance settlement. where should he put this money for now

Lets face it. Those who rely on the stock market for their retirment have put ourselves in the grips of wall street. The rescue is for our future. I have lost more in my 401K than what it would cost in me in taxes.

How can Congress go on holiday? My vote will be heard in November.
Congress better get to work for the average Joe and not their own egos.

I love how McCain speaks for Palin...so what Presidential and VP candidates say to common voters is "gotcha" journalism?

Palin can't defend herself she has to have McCain stand up for her ... that is LAME

Wow Sara throwing blows I think she need to quit throwing blows and realize where does McCain stand before answering questions. Maybe Palin and McCain needs to have a debate before she debates Biden, they seem to have alot of differences about where they stand

I have no money in the stock market and I have no 401k. I work for a private company thats not on the stock market. How is this crisis going to affect me?

IQuestion for Suze: I'm 64, now retired, and need to start drawing on my 401K in about two years. 50% is in a fixed account, 50% is in a variable stock account. Should I reallocate to 100% fixed?

Anderson. I thought when the Oct. 1987 crash ocurred the SEC said it would never happen again that the U.S Government would step in and put curbs in to take effect . In other word if the market dropped to 400 points curbs woulld kick in. What happen

I have a question for Suse Orman or any other financial expert you have on, as I think she's not going to be on again tonight. I am fifty six and a teacher in Florida. I am four years away from retirement, but will not yet be sixty two when I retire. I have a 403b. Do I stop contributions unless tthis gets much better? What do I contribute to now? Please help. I am so worried.

I can't believe all of these comments being made by talented newscasters, about how Sarah Palin's "confidence was shaken", and that is why she had a hard time during Katie Couric's interview. Are you kidding me!!! Do you really think the best choice for VP is someone we have to worry about shattering her CONFIDENCE???!!!

I would like to hear some comments concerning my age group, I'll be 80 soon. I have no debts and I need income. Thanks

I agree with the commentators tonight that Sarah Palin should've been allowed to toss it up out there in "the real world" – let her do her own thing – you can't hide a potential vice president. And Rolin Martin was right – the bar is not low, it's been set high because of the "hiding" factor of Sarah Palin.

I am 36 and am in the process of purchasing a home in Southern California (offer was accepted). I am debt-free (no cc debt, car payments...), and am planning on putting 20% down on a 290,000 detached townhome that is 3 yrs. old. However, with everything that has happened within the last few days, I am thinking this may be something to hold off on, whether it be for a better interet rate or just to be more "secure". I have only 10,000 in savings at this point, after the down, closing costs, and extra fees are paid, however, I am still working and will be for the next 30 years (hopefully much less).

My question-do you think I should hold off or continue with the purchase?

Just wow, too surprised at how tonight turned out. To me, even though the bill was on the edge, it gave a lot of hope for the economy crisis. It's just amazing to think that without the bill the economy, all over the world, will just fall into a devastating state. Sigh, and to think the worst is yet to come.

a page right out of the Bush/Rove campaign manual...when you cant in any reasonable way explain or justify your comment – attack the press

I don't understand Sarah Palin's answer to Katie Couric.... I am disagree with her comment about the enocomy....

Please stop making excuses for Sarah Palin. She's clearly not up for the job. Over and over again she's messed up. Now she needs John McCain sitting beside her.

She reminds me of another Bush but only worse!

Fareed Zacharia is right on!

This is truly scary!!!

Exactly Ed , Dont that send a message to the world that we might have a VP who can be taken to task on issues which are critical to the mighty U.S.A

Palin's nasty remark regarding Biden's age, did she forget who she's
on the ticket with? She seems to blame everybody else for her mistakes. I fell the news media has been more than fair to Gov. Palin. It's their job to inform the people.

Ed Rollins is so right, i was just thinking that McCain seemed like the angry dad having to come talk to the principle about not suspending his daughter. This campaign is circling and is one gaffe away from being flushed

PALIN – Gotcha politics – I AGREE WIHT ED ROLLINS!!!!! It looked like "father handling daughter". She couldn't produce, that's why he ws in the latest interview with Katie.

Notice McCain was her babysitter and bodyguard against the mean old lady asking questions! LOL

I am confused on why McCain had to baby sit Sarah Palin on the second interview. Shouldn't she be able to hold her own weight? People she is running for the second highest position in the land!

David Gergen: You make sense. Complete, sapient, no-spin sense. Than you!

Roland Martin endorses obama? Wow, who'd a thunk it?

When he was a communiy organizer I wonder how many mortgages he got banks to give to people that couldn't afford to pay for them?

Good night Anderson, Randi and Best bloggers!!
Have a great night!!!! Sleep tight!!!!
See you tomorrow night!!
Day of the shot with Tina Fey look like Sarah Palin!!!! I love her!!! so funny!!!!!

Goodnight David Gergen, Randi, & Anderson! Thanks for the info tonight.

It's more than obvious that Palin is no where near qualified to be the VP of the United States of America. I don't know who the McCain camp thinks we are. I'm insulted by the whole thing. As a matter of fact, I'm insulted by everything he's done during this entire campaign. His VP pick, his grandstanding last week, his vow to withdraw his campaign until this whole bail out thing was settled. By the way, what happened to that??? Oh, and I can't forget all the untrue campaign ads. You would think that he would have taken the high road, but he didn't. And this last dumb thing he did...sitting with Palin while she was being interviewed by Katie C. Imagine, a heartbeat away from being the President. The whole thought is very scary. May God help us all!!!

Hi Randi Kaye, I like this report on Sara Palin. I feel she is taking a lot of heat, she is new to the national spotlight. I'm following David Gergen's golf analogy pretty well. She shouldn't be penned in as Ed Rollins says. The bar is high for her at the vp debate, Roland is right, but she's been so over scrutinized and over analyzed, let her get out there and start talking. Candidates need to get out ahead of the media. She can. She's the governor of Alaska.

Get this straight: This administration led us into this crisis. They made it happen. Now, with little debate or oversight, they ask the people to caugh up a huge amount for Wall St. Consider that they had a year (!) to help the housing market. And remember the great 'leadership' they offered in other crisis...