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

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

Filed under: Live Blog
soundoff (346 Responses)
  1. David

    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?

    September 29, 2008 at 10:37 pm |
  2. Gary

    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.

    September 29, 2008 at 10:37 pm |
  3. Jeff from Atlanta

    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?

    September 29, 2008 at 10:37 pm |
  4. Claudia

    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!!

    September 29, 2008 at 10:37 pm |
  5. Donna A. Reuter, Bremerton, WA

    Question for Suze:

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

    September 29, 2008 at 10:37 pm |
  6. Sharon

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

    September 29, 2008 at 10:37 pm |
  7. Lee

    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.

    September 29, 2008 at 10:37 pm |
  8. Paul

    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?

    September 29, 2008 at 10:37 pm |
  9. mary t

    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,

    September 29, 2008 at 10:37 pm |
  10. Delton

    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.

    September 29, 2008 at 10:37 pm |
  11. john

    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?

    September 29, 2008 at 10:37 pm |
  12. Don Lawson

    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...

    September 29, 2008 at 10:37 pm |
  13. Danny, Midland, Texas

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

    September 29, 2008 at 10:37 pm |
  14. Lorie Ann, Buellton, California

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

    September 29, 2008 at 10:36 pm |
  15. Dusan

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

    September 29, 2008 at 10:36 pm |
  16. Karen

    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?

    September 29, 2008 at 10:36 pm |
  17. Haan

    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

    September 29, 2008 at 10:36 pm |
  18. Clarence

    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

    September 29, 2008 at 10:36 pm |
  19. Ruth in Laguna Hills, California

    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.

    September 29, 2008 at 10:36 pm |
  20. Joe Pauly

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

    September 29, 2008 at 10:36 pm |
  21. Chuck

    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?

    September 29, 2008 at 10:36 pm |
  22. Barabara

    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.

    September 29, 2008 at 10:36 pm |
  23. Lauren

    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

    September 29, 2008 at 10:36 pm |
  24. Steven L. Tempe, AZ

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

    September 29, 2008 at 10:36 pm |
  25. Roger

    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

    September 29, 2008 at 10:36 pm |
  26. Sue

    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.

    September 29, 2008 at 10:36 pm |
  27. Candice

    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?

    September 29, 2008 at 10:36 pm |
  28. Howard

    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

    September 29, 2008 at 10:36 pm |
  29. david hanvbidge

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

    September 29, 2008 at 10:36 pm |
  30. Ryan

    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?

    September 29, 2008 at 10:36 pm |
  31. Nancy

    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?

    September 29, 2008 at 10:35 pm |
  32. George L


    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?

    September 29, 2008 at 10:35 pm |
  33. felicia from New Jersey

    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?

    September 29, 2008 at 10:35 pm |
  34. Joe

    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?

    September 29, 2008 at 10:35 pm |
  35. Daniel R. Martin

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

    September 29, 2008 at 10:35 pm |
  36. Jishnu Nair

    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

    September 29, 2008 at 10:35 pm |
  37. Andrew Maglio

    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?

    September 29, 2008 at 10:35 pm |
  38. Linda Wallace

    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,

    September 29, 2008 at 10:35 pm |
  39. Angela C.

    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

    September 29, 2008 at 10:35 pm |
  40. Jeff

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

    September 29, 2008 at 10:35 pm |
  41. Glenna

    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?!?

    September 29, 2008 at 10:35 pm |
  42. Nikkita

    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

    September 29, 2008 at 10:35 pm |
  43. Edward Jenkins

    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??

    September 29, 2008 at 10:35 pm |
  44. michael

    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?

    September 29, 2008 at 10:35 pm |
  45. Heather

    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?

    September 29, 2008 at 10:35 pm |
  46. Elaine

    (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?

    September 29, 2008 at 10:35 pm |
  47. Brian B.

    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.

    September 29, 2008 at 10:35 pm |
  48. Irene

    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?

    September 29, 2008 at 10:35 pm |
  49. Charles

    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?"

    September 29, 2008 at 10:35 pm |
  50. Lisa

    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?

    September 29, 2008 at 10:35 pm |
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