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February 19th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/19/09

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Filed under: Live Blog • T1
soundoff (491 Responses)
  1. Isabel Abreu, Brazil

    Hello, Erica!
    Nice to meet you.

    February 19, 2009 at 10:23 pm |
  2. Kara

    OK.......
    I can't be the ONLY person on this planet that has thought about how to help CURRENT home owners AND first time buyers...

    Why not give a cross-the-board flat 3.5 or even 4.0 % mortgage rate. No closing costs (fed bailout money to the banks should cover that!!) to the borrower.
    Current homeowners could re-fi and dump cash & interest into the system...

    February 19, 2009 at 10:23 pm |
  3. AndersonTrent

    President Obama would have been wise to look at Ontario's experience with the 1990's recession during his visit here. In the early 1990's we elected an socialist government on the promise of a more equitable social model.

    Very shortly (and similar to the complaints of your viewers on the mortgage bailout) the people who were working got tired of "spreading the wealth". The socialists were replaced by "the common sense revolution" – the most agressive right wing government in our recent history.

    February 19, 2009 at 10:23 pm |
  4. Sharon S

    Stanford, left and not locked up?

    February 19, 2009 at 10:22 pm |
  5. Maureen, Georgia

    Hi Anderson & AC360 team & also all bloggers. Hi Candace in Canada I watched the little snippets of Pres. Obama in Canada & his news conferance with the PM.

    February 19, 2009 at 10:22 pm |
  6. allison

    I am so heartbroken at the comments of people who think the stimulus plan only helps those who lived beyond their means. Some people did ,but were is your since of compassionfor those who did do the right thing. Many, many of these family did the right thing and did not over spend. They just feel on hard times. This situation could have been any of us. One illness, one job loss, one death of a spouse could land any American in a similar situation. Have some compassion and lets work together to get this country working together so we all have a place to call home!!

    February 19, 2009 at 10:22 pm |
  7. Sharon S

    I am so sick of this sorry excuse of a Government running MY Country! I was taught to be responsible for what I do and what I buy!

    I cannot believe these idiots run their companies in the ground and instead of the owners of the companies taking responsibility the Government bails them out!

    People buy homes they cannot afford and well they just get a bailout or perks so they can Keep Homes they cannot afford!

    February 19, 2009 at 10:22 pm |
  8. marianne moore

    Hello Erica, tell Anderson that Canadians are wild for Obama. All news channels French and English coverd his visit ALL DAY. That's quite a feat here in Quebec were any "English" news is usually bad news. All, here, love him

    February 19, 2009 at 10:22 pm |
  9. Caroline, Los Angeles

    Lee--can he rent his house out? If he does that will the bank let him pay back the late payments a little at a time?

    February 19, 2009 at 10:21 pm |
  10. Ken in NC

    I tell you what Anderson, The First Lady is a Sharp Dresser and she is probably President Obama's best sales person. She is one smart lady. Almost as smart as you Anderson.

    February 19, 2009 at 10:21 pm |
  11. Cessy, Chicago

    Life is tougher when you have to pay 10.25% sales tax.

    February 19, 2009 at 10:21 pm |
  12. Joan, Lansing, MI

    Thank you, John King, for coming to Lansing. I had hoped in your wanderings throughout the country that you would highlight the status of this area of Michigan. It has long scared me that Lansing will turn into Detroit if something doesn't happen to help out our local economy.

    February 19, 2009 at 10:21 pm |
  13. Austin

    Has anyone living in the U.S. today even read the constitution....we don't even remotely go by it

    February 19, 2009 at 10:21 pm |
  14. Dodie from Irvine, CA

    Question for Anderson!

    What is backing this "Trillion" Dollars????
    Will we end up going into a terrible inflation resulting from this??? Will my Grandchildren hate me because they will have to pay this trillion off ??

    February 19, 2009 at 10:21 pm |
  15. Miz (That's really my first name!)

    I live in a small town in Washington that relies on logging. Most of the loggers in this community are now down to working 1 week a month and it's likely they will end up losing their jobs soon. I don't agree with your suggestion that there's a lot of anger out there against homeowners who can't pay their mortgage. Those of us lucky enough to have homes and jobs are glad that our neighbors may get help. It doesn't help us to have neighborhoods full of foreclosed homes and I don't agree that the majority of people in trouble are to blame for their problems. If you have no job and the banks will not work with you, what would you suggest they do?

    February 19, 2009 at 10:21 pm |
  16. Jim

    Sharon S is dead-right. The only way the car companies / unions are going to change is via bankruptcy.

    February 19, 2009 at 10:20 pm |
  17. Esma

    Hey, Erica!!!

    February 19, 2009 at 10:20 pm |
  18. Jo Ann, North Royalton, Ohio

    I do think some of the blame lies with the people who signed those mortgages but could not afford them, however, the banks that granted those loans and the people who forced them to grant them are the ones who hold most of the responsibility. It bothers me that those same banks are now getting help from the taxpayers.

    February 19, 2009 at 10:20 pm |
  19. Mike, Syracuse NY

    The Republican talking point is right. 9% of mortgages are in default. That means 91% are not. 91% of us did it right. Why should we pay for those who didn't?

    February 19, 2009 at 10:20 pm |
  20. K. phizer

    This whole buy America thing.
    I think its a just all hot air. My first car was a monti carlo. I loved that car but I always feared the day it might break down. since them I have always owned a nissan, BMW and Honda. These car have served me well but does that makes me a bad american because I demand nothing but the best?

    February 19, 2009 at 10:20 pm |
  21. Bridget, TX

    I'm glad the president is being honest with how bad the situation is and at the same time remains positive that together we can ride throw this hurricane if we work together and become a stronger country in the end.

    February 19, 2009 at 10:20 pm |
  22. Jim

    Like many others, I feel that I am being forced to pay for not only bad choices by individuals, but for poor choices and actions on the part of those who should have prevented this crisis in the first place- people like Chris Dodd, Barney Frank and others in Congress. I feel penalized for having been responsible with my income, debt, etc.

    February 19, 2009 at 10:20 pm |
  23. Tom of Philly

    agreed 30K in 300K house no way but they wont qualify this is a lot to do with getting people out of 10% or more mortguages. There is some swindling that went on. How bout going after the comissions of the brokers who pushed people the wrong way and made a killing? What ever happend to fhe value of honest work and business ethics? Oh the me principle, I get it

    February 19, 2009 at 10:20 pm |
  24. Caroline, Los Angeles

    Saturn was one of GM's best products but they killed it by pushing all their other mega-car models.

    When was the last time you saw a Saturn commercial?

    If they don't advertise the brand how can it survive?

    February 19, 2009 at 10:20 pm |
  25. Renee

    All these folks are talking about nationalization of banks. Just give everyone fixed rate loan modifications and be done with it. Why are we the US taxpayers going to pay the banks every time they modify a loan? It is more charity to the banks.

    February 19, 2009 at 10:19 pm |
  26. Brenda Alston

    People give their life in the name of war, Govt. should give people all the help they can.

    February 19, 2009 at 10:19 pm |
  27. Toni

    The mortgage meltdown has not only affected those buyers who bit off more than they could chew, but licensed appraisal professionals who are out of work or in bondage to management agencies created by Cuomo to take 60% of licensed professionals fees and charge lenders full price. A fee passed on to taxpayers. ARM clients aren't the only ones sinking, self employed people with no paycheck or money trail to verify income are going to lose their homes because they're not able to qualify for loans.

    February 19, 2009 at 10:19 pm |
  28. Zack

    I am wondering why no one ever talks about the idea of just extending individual's mortgages from 30 yrs to something like 50yrs? Wouldn't that solve home owner's cash flow issues and when the market recovers then they can refi back to a 30 yr when they can afford it. This would not be a hand out and people are still responsable for their own debt but makes it affordable.

    Why don't I ever hear of this type of solution?

    Thanks – Zack (California)

    February 19, 2009 at 10:19 pm |
  29. Michelle

    President Obama needs to throw everything at the
    problems we face. Stop with the snipping.

    February 19, 2009 at 10:19 pm |
  30. Lori from IL

    Good evening Anderson, Erica and Fellow Bloggers -

    Signing in late tonight - just got back from dinner out with friends - was surprised to see how empty the restaurant was, not usually the case with this place. My friends and I decided we must do what we can to stimulate the economy!

    February 19, 2009 at 10:19 pm |
  31. Colleen

    Hello Anderson....Love your show...Don't you think it would be a good idea for the Auto Workers Union to help bail them out,after all they have more money than the government.

    February 19, 2009 at 10:19 pm |
  32. Isabel Abreu, Brazil

    For me, the benefit package of real estate is that it goes to the point that began to pull the US economy down.

    February 19, 2009 at 10:19 pm |
  33. Cindy

    I am not too happy about the housing bailout cause I don't see how they will differentiate between someone that is in foreclosure by their own fault or not. I don't see it as fair that I have to pay for their mistakes!

    Cindy..Ga.

    February 19, 2009 at 10:19 pm |
  34. Steve - southern Illinois

    I wonder if some of the people who aren't going to get anything from this stimulus were some of the ones complaining about non-tax payers getting stimulus checks last year. I'm guessing that's why there are no stimulus checks in this one.

    February 19, 2009 at 10:19 pm |
  35. Carrie Bradshaw, Upper East Side

    I swear as God as my witness, I will never buy another GM car in my LIFE. Their mismanagement caused this to happen with Saturn. The UAW caused it with their greed. Thanks to them on top of everything else I will be driving a car that I will not be able to service in 3 years. How do they plan to take care of their own customers? They won't! They will do nothing but pander to get what they want so that they can fly their jets and get their bonuses. I hope they all rot!

    February 19, 2009 at 10:19 pm |
  36. Alfina, Texas

    What has happen to the heart of America. People in this country are quick to help people in other countries but, here in this country what we have now, is hate your neighbor? We need to be helping each other. Everyone needs help sometimes.

    February 19, 2009 at 10:19 pm |
  37. Matthew R.

    So we have a bailout for some homeowners who got caught in bad loans and had bad brokers, we all agree that investors who tried to get rich quick shouldn't be rewarded or bailed out. But why haven't we heard about us in the middle, the people that just bought at the wrong time in the market, (some cause we had to) we can make our payments, but are stuck in a depreciating asset which makes us stuck in our homes and cant sell them for even. Were paying for homes that are worth 1/2 of what we bought it for. Were the ones who have money to spend, give some current market values for our homes with payments accordingly, and let us spend the difference in the economy. Everybody would benefit from this.

    February 19, 2009 at 10:19 pm |
  38. ericacnn

    hi, everyone. thanks for logging on tonight!

    February 19, 2009 at 10:19 pm |
  39. BettyAnn, Nacogdoches,TX

    I think those of us who pay our mortgage and scrape by should get help. Who agrees?

    February 19, 2009 at 10:19 pm |
  40. Rita-Missouri

    Hi Anderson, I wish everyone would stop blaming the President for the housing crisis. So what if someone is losing their house to bad decisions, just maybe 3 yrs ago they had good incomes and a savings, then the job market crashed and banks got scared and stopped lending money!! That is not the President's fault. It is the economy STUPID! Lost jobs, lost homes, lost dreams, and a poor economy. The banks got all the federal money they could and what have they done with it? It sure hasn't gone to help customers of there's. Communities, banks, real-estate tycoons and officals need to stop being afraid to help working families and start generating jobs and spending. That is the only way to stop the stale-mate. Somebody has to start the ball rolling and soon!! States and counties need to step up also.

    February 19, 2009 at 10:19 pm |
  41. Dodie from Irvine, CA

    CaseyJ – Palm Springs, CA

    The best way is to drop interest rates for EVERYONE! If you can not make your mortgage at 3% then find a home in which you can make your mortgage. China just dropped all their interest rates and NO re-finance charges. No Refinance at all. It was automatic for everyone. I think they will come out of the recession before we do.

    February 19, 2009 at 10:19 pm |
  42. Tony (Braintree, MA)

    What about Renters? I keep hearing how this bailout will "help everyone", but they are only referring to home-owners. I don't know the numbers but I'm sure a large percentage of Americans rent. And for us to make our monthly payments and save for a future downpayment, only to be footing the bill for irresponsible speculators who wanted the golden ticket "aka the American Dream" is infuriating. For once, I would like a media outlet to at least mention the word renters, because I feel like we are the black sheep in this economy. Bailing out the greedy, and increasing the value of homes for the responsible, at our own expense.

    February 19, 2009 at 10:18 pm |
  43. Yvette

    This is making me SICK!!!! I never imagined that there would be so many people complaining now that the federal government is finally going to help homeowners who have fallen behind on their mortgages! There seems to be more criticism about this than when the banks were being bailed out! What is wrong with us????? America is great because we are a nation who takes care of our citizens and our neighbors. When a crisis happens outside the US we ALWAYS help. What is wrong with helping out our fellow Americans? My family has been blessed enough to be able to pay our mortgage even though my husband has been unemployed for 7 months....even though we have not fallen behind on our mortgage, we have struggled and I still am happy that people who have not been as fortunate as us are going to get the help they need. Have a heart America!

    February 19, 2009 at 10:18 pm |
  44. Mike, Syracuse NY

    The stimulus and mortgage bailout may be hurting those trying to refinance. Banks are waiting to see what happens rather than lending.

    February 19, 2009 at 10:18 pm |
  45. Gary Butcher

    I am so sick and tired of hearing about people that purchased more home than they can afford. When I bought my home in 1998 I could afford it. I could afford it for the last 10 years. The fact is when my income was 50%less in 2008, I had trouble affording my payments. Now my company is closing and I am about to face foreclosure.
    Lets face it – people that lose their jobs will have trouble makeing their payments and that will effect everyones home values.. Sorry!! Glad to hear you are doing well and making your payments. When my house is forclosed and short sale it will lower your home value!
    All I hear is Bail out and what the Gov't is doing to help but the reality is – its all politics. Hot air with no real application. Anyone have any success with any of the programs???

    February 19, 2009 at 10:18 pm |
  46. Zach Abel

    Anderson,

    It's frustrating when we have made the mortgage payments on time since we first purchased our house five years ago. We have excellent credit and our home is still worth more than the balance on our mortgage. However when we tried refinancing to lower our monthly payments, we were told we need between $2,500 and $7,500.00 for closing costs! If we stop making our payment for several months, I'm sure we can get a better rate at no cost and only a small "dig" on our credit. What about those of us who haven't bitten off more than we can chew?

    February 19, 2009 at 10:18 pm |
  47. teresa

    Good evening all....
    Rodd~
    You are so right: Senators (and all elected officials) need to pay taxes too.

    February 19, 2009 at 10:18 pm |
  48. starr formerly known as vincent

    Michelle, i agree with you, there are no easy answers to the mortgage mess.'

    It seems like many people feel that they have or are going to be "burned". I am one who has always paid my mortgage on time and have worked very hard to keep an excellent credit rating. So far, my bank will not re=fi my mortgage either.

    My feeling is i can still get by, but my heart goes out tofamilys who are living in cars, etc. I do not mind the sacrifice....many, many people were out and out duped into bad mortgages.

    February 19, 2009 at 10:18 pm |
  49. Lee

    my son lost his job last June ('08), and has not been able to find another. He has lived in his little house for 13 years, and paid each month without fail. He has run out of money now and the house will be foreclosed. There's no way he will gain from the President's new bill...and I hate the thought of bailing out someone who was trying to live higher than they could afford. But I guess it's going to happen anyway and my son will end up living in his truck. I guess I should be thankful his truck is paid for!

    February 19, 2009 at 10:18 pm |
  50. Jason Spokane Washington

    I think the housing bailout is leaving out a potential timebomb that is bound to explode. Those are the peopel such as myself, who did not overbuy but were "forced" into a sub-prime mortgage and the bank that wrote it is now in the process of being bought out. They flat refuse to modify the ARM they stuck me in.
    This housing bill should've required banks to convert ARM's immediately to the current 30 yr fixed rate. This tactic would automatically defuse that bomb that is still ticking out there. But hey..."government intelligence" always has been a conflict of terms!

    February 19, 2009 at 10:18 pm |
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