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October 1st, 2008
10:00 PM ET

Live Blog from the Anchor Desk 10/01/08

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
soundoff (351 Responses)
  1. Erin

    I hope all this hoopla over passing this bill will actually do something for the american people and not the same old politcs and nothing changes. Its time for things to change not the same ole thing.

    October 1, 2008 at 10:19 pm |
  2. lisa tx

    I think i will go buy a tent and get ready for tent city.

    October 1, 2008 at 10:19 pm |
  3. Dorrian

    Did anybody noticed that john mccain was absent from the floor today but obama wasn't,;insurance upped to 250k..much better than where i am in london where one quarter of that is insured and you think you guys got it bad....

    October 1, 2008 at 10:19 pm |
  4. Richard Dubois

    Somewhere in this decade we lost the grip on reality. The fundamental reason for the crisis is expansion of the Federal Deficit, fueling the consumption in the economy – but no incentives for investments in the infrastructure. Instead of cutting expenses, and reduce the outstanding debt, today the Senate chooses to throw more money in the market and increase the prospect of inflation in the years to come.

    October 1, 2008 at 10:19 pm |
  5. Linda

    By slowing down lending aren't the banks cutting off their income source? We're being held hostage by fear.

    October 1, 2008 at 10:19 pm |
  6. Marv R

    I'll be 65 in Jan 09, have (so far) lost 20% of my IRA and my wife's 401k and can honestly say I don't care. Over our 42 years of marrage we've gained and lost and never ask for a bailouts and this will not work ... I'm in tears over the debt my 2 year old grandson and 2 month old grandaughter are inherting. The greatest generation ( my parents) did not leave me a dollar...but they did not make me pay for the errors of the times they lived.

    October 1, 2008 at 10:19 pm |
  7. Hank from Georgia

    The Constituents are saying no?

    These are the same people who watch Jerry Springer reruns and helped Dubya get elected twice(or once if you ask Al Gore).

    Are these the people we need to listen to on this complex matter?

    October 1, 2008 at 10:19 pm |
  8. Carly,AL

    Hey Anderson and Erica,

    i honestly believe that both Barak Obama and John McCain really did not seem to do there part to get the bill passed in the house.... Both should have been up in Washington getting people to vote. for it..instead they wanted to play them blame game and blame each other...

    October 1, 2008 at 10:18 pm |
  9. Karen from OHIO

    The Senate demonstrated democracy as it should be. Now let's hope that the House can follow suit. No more partisan bickering and speeches blaming one another. Does everyone realize that Nancy Pelosi is 2 breaths away from the presidency. Scarry.

    October 1, 2008 at 10:18 pm |
  10. Susan

    Anderson, how many lobbyist were involved in drafting this payout; excuse me I had a slip; I mean bailout?

    October 1, 2008 at 10:18 pm |
  11. Edward Fleming

    Mr.Cooper
    I fail to understand how this bailout helps the common man.If the House approves the bill the Goverment takes bad debt from banks,then why would the credit freeze so banks get back into this situation Why would they?If they don't pass the bill companies will be sold to other compainies at a lower value so where is the issue with bailing wall street out? Is Wall street more powerful then Washington?is Washington bowing to wall street if this bill doesn't pass the market crashes,seems to me wall street is making Washington bow.

    October 1, 2008 at 10:18 pm |
  12. anderson cooper

    Ever notice how no one in washington ever seems to admit mistakes?i think people would be forgiving of mistakes if someone honestly admitted them. Instead we no one is ever wrong except the other guy from the other political party.

    October 1, 2008 at 10:18 pm |
  13. Diane

    I was repulsed at the post-vote self-patting of backs of the US Senators for their "bi-partisan cooperation" and foresight in passing this "rescue plan". What they should have done is apologized to the American public for their lack of performance in overseeing the financial markets, for de-regulating the markets so that fraud and greed ran rampant , for being compromised by Wall Street lobbyists and for unleashed, unabashed spending of American's hard earned tax dollars!

    October 1, 2008 at 10:18 pm |
  14. Terry, Union, KY

    It;s so surprising that both the House and Senate members are blaming the other party and neither one of them seems to have known that thia melted down was coming. America has a golden chance this November to vote out everyone that is up for re-election to show Washington that they work for us and must always keep our, not their, intrest in the forefront

    October 1, 2008 at 10:18 pm |
  15. Alexis

    Does it inspire you to see the Senators heaving a sigh of relief as they pat each other on the back for selling out the American people? Shows you how much attention they pay to the popular opinion, doesn't it? Citizens don't want this bill & they've let their representatives know, so is this a democracy? You decide. Once this bill is past, it's too late to change it. The lobbyists are jumping for joy & so is the upper class. If you're not a member of either of these groups, hold on, you've got a long drop ahead, for like the next ten years.

    October 1, 2008 at 10:18 pm |
  16. rusty

    heres one their not talking about. How are they going to get the money from the taxpayers? how much? what time line do the taxpayers have?

    October 1, 2008 at 10:18 pm |
  17. Jeff in Florida

    Belshi just indicated in Plan B that there are tax breaks to individuals and businesses. Who, exactly, are getting the benefit of this $110B in pork?
    JeffLL

    October 1, 2008 at 10:18 pm |
  18. Patrick Byrne

    Bravo Anderson! I was thrilled to hear you bring up Barney Frank's opposition to Fannie Mae's illegal bookkeeping. Frank blamed Republicans, but he was in Bed with Fannie Mae while they covered up their insolvency. The fact is, Frank led the charge that got us in this mess.

    October 1, 2008 at 10:18 pm |
  19. sherill

    If this bill passes the house........are you kidding me? We once had the 10 million man march on Washington......when will Americans march on Washington to throw out these (porking) pigs?

    October 1, 2008 at 10:18 pm |
  20. doug - Ohio

    The tax payers are now the Wall Street gamblers, WE are given the cards that Wall Street does not want, and our congressmen say we may profit. (on a losing hand )

    October 1, 2008 at 10:17 pm |
  21. Jacqui Chan

    At&T is having trouble – WOW!
    with the new i-phone out that is so huge, this is a great example of how completely messed up the economy is

    October 1, 2008 at 10:17 pm |
  22. irene, michigan

    We the people do not want the bailout – but – it is passed. We are the people that cast the votes. The elected officials then act as if they are our parents and make the decisions for us. Why? They must believe that we are too stupid to understand this situation. Why? They make decisions based on what lobbiests what. Why? We continue to vote based on reasons (partison) other than the issues. We will not vote at the next election blindly – we will vote for all that voted no to the bailout. Or any candidate, from any party that runs against the politicians that voted yes for the bailout!!!!

    October 1, 2008 at 10:17 pm |
  23. Darrell S.

    How many people in the U.S. filed a tax return in 2007? Take that
    number and divide it into say $200 billion. Send a check for that
    amount to every LEGAL tax payer in the country. Reckon that would
    give a "boost" to the economy?

    October 1, 2008 at 10:17 pm |
  24. Jonathan

    I'm not an expert, but has anyone considered restructuring one of two things; the economy, to work independently from these failiing institutions, or restructuring the institutions themselves?

    October 1, 2008 at 10:17 pm |
  25. Jeff-->(D) Illinois

    These people "including our public servants" need to be held accountable. We can not allow for the average American to stand by and not be heard. But tonight we have seen that our elected servants do not care what we think.

    October 1, 2008 at 10:17 pm |
  26. Jason - Orlando, Fla.

    As a college entrepreneur, I can't tell you all the things I'd be able to do with $1 Million, let alone $700 Billion. How about sending some money to finance the dreams and innovations of our youth?

    October 1, 2008 at 10:16 pm |
  27. Shari Panton

    Question: This may seem like a stupid question, but there are approximately 300 million people in the US, it seems to me it would be alot better to give all working Americans $1million (or let's just say those who make less than $250K) , so they can pay off all their bills and then put away for savings. It would be alot cheaper than $760 billion dollars to a bunch of rich companies. Why doesn't someone suggest that solution.

    I just got laid off, unemployment is a joke and I'm concerned about paying my mortgage.

    Thanks

    October 1, 2008 at 10:16 pm |
  28. Kate Cloud

    This bailout bill is so wrong. It's still the Bush/Paulsen plan with a bit of ornamentation. They should have held hearings and debated alternatives. Those of us opposed to the bill have probably lost this one but I think we got their attention.

    October 1, 2008 at 10:16 pm |
  29. Sharon

    I also think we the people annoy Rep. Frank. Since the Democrats have been in control of the House and Senate since 2005. We should have put the brakes on the traders a year ago. Where are the new trading regulations in this new bill? AND they still have the same people on the board that is going to run this deal. That is like putting
    the foxes in the henhouse! We also need an increased tax per trade. That would also slow them down and make them think before they make a big trade on crap.
    Also, anyone notice how the stock market is falling apart but the price of gas is going down? At least here in MN it is. Make you go hmmmmmm.

    October 1, 2008 at 10:16 pm |
  30. david

    I like this bill and I urged everyone to support this Bill. Call your representatives..

    October 1, 2008 at 10:16 pm |
  31. cindy

    Nobody likes the bill, but it was necessary. I'm glad it is moving forward. By the way, it seems to have turned into a big ol sweet Christmas Tree.

    October 1, 2008 at 10:16 pm |
  32. Jo Ann, North Royalton, Ohio

    Toni, This bill needs to be defeated. Barney Frank is totally ridiculous; he was one of the ones who claimed that Fannie Mae and Freddie Mac were not in trouble when they obviously were.

    October 1, 2008 at 10:16 pm |
  33. John in Mass

    The American people need to stop voting for the bums in Congress. We always send the same people back each election. We do not like what they do but still we vote for them. We should take back our country and vote all these bums out. They will never listen to us unless they fear for their jobs.

    October 1, 2008 at 10:15 pm |
  34. Louise

    Can't be any astonishing pork in the thing or Ali would have mentioned it.

    October 1, 2008 at 10:15 pm |
  35. Mary

    I just don't get it. Why are they rewarding bad behavior? If you or I had a business that we dealt with in a risky fashion, would the government step in and take care of it? I don't think so. We need to deal with the bad stuff now, not later. They have been putting it off for too long. Let's suck it up and move on. Why should our future generations suffer for the stupidity of our politicians?

    October 1, 2008 at 10:15 pm |
  36. Brian A Berard

    Once again the majority of the American People voices are ignored. Not to mention an additional 150 billion added to this fiasco.

    What will congress do when the 62 TRILLION dollars of derivatives start failing.

    I think this is the final sell out of America and they are grabbing what they can for themselves while they can!

    America better wake up and fast and VOTE ALL THESE INCUMBENTS OUT OF OFFICE or soon and start anew or there will be no more USA!

    October 1, 2008 at 10:15 pm |
  37. william youngblood

    Senate votes against the will of 85% of the people. how is this any differrent from any other dictatorship? McCain has now lost my vote, too bad because I am afraid of Obama. I am sorry for my daughter because she will never know what it was like to live in a free country.

    October 1, 2008 at 10:15 pm |
  38. Hank from Georgia

    It is impossible to tell how much impact either Senator Obama or Senator McCain have on the House.

    Ask the Right, McCain was "instrumental". Ask the Left, Obama's presence was appreciated.

    October 1, 2008 at 10:15 pm |
  39. Megan Dresslar (Shoreline, Wa)

    Hellooo Erica,
    Welcome back!!!!

    October 1, 2008 at 10:15 pm |
  40. Alexa Zuniga

    Anderson-first off-I love you, second-as a 19yr old college student, the lack of leadership from our congress as well as the finger pointing between political parties is pathetic. I'm sick and tired of seeing elected officials not being able handle tough problems such as our financial crisis. This is part of their job and they should have never let our economic situation go this far.

    October 1, 2008 at 10:15 pm |
  41. Jeff - Newtown, CT

    I'm torn about what to do about this "BAILOUT" package problem.... However, one thing is for sure.... I wish our elected officials would take more time to think this thing through! AND, I have a real problem about bailing out those type of people who benefited the most from these "Loose & Wild" regulatory climate that made the "RICH" in this country far richer, right on the backs of working America!!

    October 1, 2008 at 10:15 pm |
  42. dave

    Kudos to anderson...its about time someone call Barney Frank on his actions for protecting fannie and freddie....I hope he does the same to Chris Dodd next interview he has with him in his role! Great job Anderson.

    October 1, 2008 at 10:15 pm |
  43. Greg

    If Nancy P had done her job instead tring to blame the Republicans the bill might have passed the House

    October 1, 2008 at 10:15 pm |
  44. Mark, Norfolk Va

    Why all the "sweetners"? I find this the most disgusting. The senate can't do anything without adding in all the extra crap. Just give us a Bill that makes sense and doesn't require mental health care etc. What is wrong with these people and why do we continue to vote for them? We need to kick all these worthless, paid for slackers out of Washington and instead vote in people who are bought and paid for, and absolutely care for their constituents instead of where their campaign cash is coming from.

    October 1, 2008 at 10:15 pm |
  45. Felicia (Georgia)

    Something has been lost in Congress–the desire to serve the American people. Our interests should supercede any party affiliations. Remember, "We the people of the United States". Work together for our country. Stay away from the blame game because we are all at fault. Congress for not watching the financial interests of this country, and all of us or not watching Congress.

    October 1, 2008 at 10:15 pm |
  46. rafael

    what do these sweetner add-ins to the bailout have to do with the credit problem in wall street? this is another reason for someone to develop a website that will show those in the House that vote for the bailout so the taxpayers can take to the poll and vote them out.

    October 1, 2008 at 10:15 pm |
  47. anderson cooper

    evening everyone.. thanks for joining us... a lot happening tonite...

    October 1, 2008 at 10:14 pm |
  48. sharon

    Anderson, Being one of the "mainstreet" people I am concerned about the Bailout of Wall Street. Could you or one of your commentators explain in plain words exactly what the "mainstreet" peoples responsibility is going to be?

    October 1, 2008 at 10:14 pm |
  49. colletta waddell

    there not onoeperson in congress that cares about anything except getting reelected they do not know if this give away to there rich friends will work there nothing in this bill that make them give credit so what do they do add `150billon more pork to bill they all need to be sent home and anybody who wants reelected better vote no

    October 1, 2008 at 10:14 pm |
  50. Jen in Mex.

    Does it have any bearing that the fact that the generations that had to live through hard times, be it the depression, or WWII rationing ,are less and less as each day passes? I pinch pennies and live frugally not because i have had to, but because that is what I learned from my mother, who survived hunger and poverty in Europe in WWIII. Are our parents and grandparents experiences just lost memories destined to be repeated???

    October 1, 2008 at 10:14 pm |
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