September 29th, 2008
10:02 PM ET

Live Blog from the Anchor Desk 9/29/08

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 (346 Responses)
  1. David, Indiana

    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.

    September 29, 2008 at 10:11 pm |
  2. Bernard

    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.

    Gatineau, Québec

    September 29, 2008 at 10:11 pm |
  3. dorothy

    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?

    September 29, 2008 at 10:11 pm |
  4. Carolina

    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.....

    September 29, 2008 at 10:11 pm |
  5. Jishnu Nair

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

    September 29, 2008 at 10:10 pm |
  6. Megan Dresslar (Shoreline, Wa)

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

    September 29, 2008 at 10:10 pm |
  7. Valorie

    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.

    September 29, 2008 at 10:10 pm |
  8. Barry

    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.

    September 29, 2008 at 10:10 pm |
  9. Shannon

    @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.

    September 29, 2008 at 10:10 pm |
  10. Josh

    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?

    September 29, 2008 at 10:10 pm |
  11. eric Walker

    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

    September 29, 2008 at 10:10 pm |
  12. Martina Ilstad Germany

    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?

    September 29, 2008 at 10:09 pm |
  13. Claudia Mancilla, Watsonville CA

    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!

    September 29, 2008 at 10:09 pm |
  14. Jo Ann, North Royalton, Ohio

    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.

    September 29, 2008 at 10:09 pm |
  15. Jishnu Nair

    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.

    September 29, 2008 at 10:09 pm |
  16. sylvia, chicago

    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

    September 29, 2008 at 10:09 pm |
  17. Doug

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

    September 29, 2008 at 10:09 pm |
  18. Michael

    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.

    September 29, 2008 at 10:09 pm |
  19. Greg, Erie

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

    September 29, 2008 at 10:09 pm |
  20. Jonathan Alfonso

    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???

    September 29, 2008 at 10:08 pm |
  21. Shannon

    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.

    September 29, 2008 at 10:08 pm |
  22. Dave

    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?

    September 29, 2008 at 10:08 pm |
  23. EJ (USA)

    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.

    September 29, 2008 at 10:08 pm |
  24. Mike, Syracuse NY

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

    September 29, 2008 at 10:08 pm |
  25. Chuck

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

    September 29, 2008 at 10:08 pm |
  26. Megan Dresslar (Shoreline, Wa)

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

    September 29, 2008 at 10:08 pm |
  27. John, San Diego

    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.

    September 29, 2008 at 10:08 pm |
  28. CaseyJ - Palm Springs, CA

    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...

    September 29, 2008 at 10:08 pm |
  29. Snitz

    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.

    September 29, 2008 at 10:08 pm |
  30. Cheryl, RI

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

    September 29, 2008 at 10:07 pm |
  31. Nicole A. - Indianapolis

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

    September 29, 2008 at 10:07 pm |
  32. Mike, Vietnam

    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...

    September 29, 2008 at 10:07 pm |
  33. Mike Leach

    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?

    September 29, 2008 at 10:07 pm |
  34. mario de la ossa

    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.

    September 29, 2008 at 10:06 pm |
  35. dorothy

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

    September 29, 2008 at 10:06 pm |
  36. Ganesh

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

    September 29, 2008 at 10:06 pm |
  37. larry

    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?

    September 29, 2008 at 10:06 pm |
  38. Tiffany in Denver

    For the first time I am really starting to worry.

    September 29, 2008 at 10:06 pm |
  39. anderson cooper

    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.

    September 29, 2008 at 10:06 pm |
  40. Lorie Ann, Buellton, California

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

    September 29, 2008 at 10:05 pm |
  41. Kent

    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.

    September 29, 2008 at 10:05 pm |
  42. Gary

    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.

    September 29, 2008 at 10:05 pm |
  43. Leslie Taylor

    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!!!"

    September 29, 2008 at 10:05 pm |
  44. Maureen / California

    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.

    September 29, 2008 at 10:05 pm |
  45. Megan Dresslar (Shoreline, Wa)

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

    September 29, 2008 at 10:05 pm |
  46. CaseyJ - Palm Springs, CA

    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!

    September 29, 2008 at 10:05 pm |
  47. Donata, Amarillo, TX

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

    September 29, 2008 at 10:05 pm |
  48. Shannon

    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??

    September 29, 2008 at 10:05 pm |
  49. Sarah, Vegas

    Evening all.

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

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

    September 29, 2008 at 10:03 pm |
  50. Ricky Williams

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

    September 29, 2008 at 10:03 pm |
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