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September 30th, 2008
09:30 PM ET

Live Blog from the Anchor Desk 9/30/08

For what’s in the program take a look at tonight’s Evening Buzz.

Don’t forget to watch the 360 webcast during the commercials. LINK TO WEBCAST

And take a look at Anderson and staff on our live web camera from the 360° studio. We’ll turn the camera on at 9:45p 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 (445 Responses)
  1. Tyese Rogers

    Hello. I would like to know if I should change my 401k contribution from "before tax" to "after tax". I prefer to remain a conservative investor and therefore am concerned about inflation. Also, how does making after tax contributions affect tax deductions?

    September 30, 2008 at 10:08 pm |
  2. EJ (USA)

    I think the ups & downs of this financial crisis are giving me a fever. I don't know why because I don't have any money to lose.

    September 30, 2008 at 10:08 pm |
  3. Margaret Wilson

    It was all manipulation.That's how the mess grew! I say break out the chrome bracelets for these geniuses! 🙂

    September 30, 2008 at 10:08 pm |
  4. Anthony

    Suzie,

    I currently have no credit card debt and pay all my pills on time. Without the bail out, Will I be able take another student loan next year? I have 20 grand in Student Loan debt– 

    Anthony

    September 30, 2008 at 10:08 pm |
  5. Robert

    Anderson there was a member of congress on Larry Kudlow tonight and he said he did not vote for the billout Bill because foreign banks would be able to transfer bad debt to their US subsidiaries and have it be part of the bail out bill. Why is there not more discussion on the details of the Bill ?

    September 30, 2008 at 10:08 pm |
  6. Miles, Texas

    I have a question.

    Why can't the government simply start giving credit to business that need it and were NOT involved in creating the problem? Credit where credit is due. They could also act as a mediator to get lenders and home owners on the same page.

    September 30, 2008 at 10:08 pm |
  7. Tristan

    I keep hearing about this $700 billion. Where is it actually coming from and how will it be distributed throughout America?

    September 30, 2008 at 10:08 pm |
  8. Robin in Snohomish, WA

    Question for Suze: My husband and I just sold our classic car for $25K. Should I invest the money during this downturn, save it in the bank in case I lose my job, or pay down debt?

    September 30, 2008 at 10:08 pm |
  9. gerry

    Sheila
    The more important question is what happens to those people if it isnt passed. A credit crunch means higher costs on absolutely everything from food, energy, rent, etc.

    A crunch will impact those kind of people more than anyone else

    September 30, 2008 at 10:08 pm |
  10. Robert E. Chicago, IL

    Why doesn't the government use that $700 Billion to create more Jobs instead of bailing out the people that tanked our economy? We are trying to treat the symptoms when we should be looking for the problem.

    September 30, 2008 at 10:08 pm |
  11. Lori

    Is FSLIC as reliable as FDIC?

    September 30, 2008 at 10:08 pm |
  12. Muammar Reed

    I'm a 2nd year law school student with over six figures in debt. What is the probability of this affecting my ability to get a loan for my last year in school if my credit score is not excellent?

    September 30, 2008 at 10:07 pm |
  13. Jim Russell; Bartlett, IL

    IF the senate passes the bailout bill (by attaching it to another since the house didn't approve it and send it to them) could those in the house against it file a challenge of it's legality to have been voted upon as technically they hadn't passed first a bill that the senate voted on prematurely?

    September 30, 2008 at 10:07 pm |
  14. Karen

    PLEASE, will people stop telling us about the connection between Wall St. and Main St. - we know. What we don't know is exactly how and why the bailout will work and what is in the plan to ensure this will actually be a long-term fix. THAT's what we want to know.

    Thank you,
    Jill Six Pack

    September 30, 2008 at 10:07 pm |
  15. Ron K

    I am in my mid thirties. I don't haves any debt, house paid off and have a 20 – 30 K in a 3 % savings account. Is now a good time to invest in the stock market? What would you advise I do with my money? Thanks.

    September 30, 2008 at 10:07 pm |
  16. Dashka

    Is it possible that perhaps part of the problem is too much Shock Media about the state of the economy as well as its effect on the global market is lowering the confidence of local and foreign investors?

    September 30, 2008 at 10:07 pm |
  17. mario

    There is a need to restore confidence, however, not supporting a deeply flawed bill filled with sophisticated loopholes that mitigate taxpayer protection is not a failure to lead. It is saying we can and must do better.

    September 30, 2008 at 10:07 pm |
  18. MaryBeth

    So, on Thursday morning, if the plan doesn't get passed, will there be another "run" on the banks? And will it be a "depression" type run?

    September 30, 2008 at 10:07 pm |
  19. John Davidson

    For Susie

    I have $30-40,000 in cash in my SEP and Roth IRA retirement accounts. Should I buy (federal) government bonds with this money, rather than keep it in IMMA, (insured money-market accounts)?

    September 30, 2008 at 10:07 pm |
  20. larry

    Finally, it was good to see Glenn Beck talk about how all this financial fiasco originated. He talked about how in 1999, even printed in the New York Times, that Illinois State Sen. Barack Obama, ACORN, and the POTUS at the time Bill Clinton; got Fanny Mae to give mortgages to people they would normally reject, due to being unable to meet the mortgage payments with the threat of being called ‘racists’.

    Even today ACORN is embraced by Sen. Obama & Barney Frank and many of the organizers in the Obama camp were taught by Obama to be ‘community organizers’

    September 30, 2008 at 10:07 pm |
  21. Tom Spfld, Ma

    Suze, I work for a Fortune 100 Insurance company. We were told that this market "wild ride" will not affect our jobs but it will affect our annual bonus and company profits. Should we be worried? Thank you.

    September 30, 2008 at 10:06 pm |
  22. Ricky Williams

    how come we could never invest 700 billion into natural gas conversion? and build a better info-structure? Im on board with that more so the bank stuff and im sure Americans are for it to...

    September 30, 2008 at 10:06 pm |
  23. Dave

    If the problem is a credit crunch for mainstreet, rather than bailout for wall street, why doesn't the government use its $700 billion to open a national bank to extend credit with interest to worthy applicants? This would not cost anything (no money is "given" away) and the money loaned would be returned with interest. If credit is so tight, the government should be able to lend at great rates and make some decent interest that could reduce the national debt..

    September 30, 2008 at 10:06 pm |
  24. MaryBeth

    Yay! Suze! I love her, she explains everything so well..she needs to have a national press conference so everyone can hear what she says.

    September 30, 2008 at 10:06 pm |
  25. Jacob

    Hey Suze,

    We followed your advice over the last few years and paid off 40k in credit card debt finally last month. My wife and I are hoping to buy a home in 18 months or so – what should we do to help ensure our credit will be good when we go to buy a house, especially given the credit crisis? Should we keep the cards with large available balance, or close them to improve our FICO score?

    September 30, 2008 at 10:06 pm |
  26. Jeffery A English

    My wife is retiring next month, what should she do with her IRA. What should she rollover it into?

    September 30, 2008 at 10:06 pm |
  27. Danijel

    Anderson,

    I hope the senate passes the bill tomorrow? Also, How long will this crisis stay, before going away? Can someone answer that qustion please.

    Thanks,
    Danijel

    September 30, 2008 at 10:05 pm |
  28. Joanne

    Suze: I have my IRA's in mutual funds. I am 65 and just retired. I'd like to roll them over into something safer. I don't want to pay taxes. It's over $100,000. I take the income from the interest, but I can live on a smaller income. What kinds of programs are there for roll overs?

    Thanks. Joanne

    September 30, 2008 at 10:05 pm |
  29. shelia

    What about the majority of the Americans that live paycheck to paycheck, pay rent with no money saved nor invested in retirement? How will this bailout help them?

    September 30, 2008 at 10:05 pm |
  30. larry

    Does the economic crisis effect university endowments; are they a risky investment?

    September 30, 2008 at 10:04 pm |
  31. CaseyJ - Palm Springs, CA

    What I want our representatives to understand is that WE CAN’T WAIT HERE ON MAIN STREET WHILE CAPITAL HILL GETS THEIR ACT TOGETHER. We need help and we need it now. I don’t think they really understand how desperate the situation is for AVERAGE AMERICANS. I can't get a home loan and I have customers who can't pay me (my business) because of the economy and because they can't get loans.

    September 30, 2008 at 10:04 pm |
  32. Lori (Canadian living in Japan)

    evening everyone...

    I still don't understand why the amercian people are not behind the bailout...don't they get it....if they want to borrow money the banks need money to lend out!!!

    aaahhhhh....conservatives!!!

    September 30, 2008 at 10:04 pm |
  33. Bret Peters

    It seems that all the major issues with the original bill were met in some way to protect the American tax payer, put a reasonable limit on golden parachutes, and the formation of two independent oversights. We all need this help immediately. We lost over a trillion $ in one day, credits are frozen, more job losses are on the way. 700 billion, for the long term, meeting the basic concerns is worth the risk. Taking no immediate action is not a risk, but immediate loss for main-street. Both sides of the house need to grow up.

    September 30, 2008 at 10:04 pm |
  34. Jo Ann, North Royalton, Ohio

    Anderson, I know I called my senators and reps and told them to vote against the bill and many people I know did the same.

    September 30, 2008 at 10:04 pm |
  35. MaryBeth

    If this plan and the consequences of not passing it were explained to the average American in terms they could understand, more ppl would be for it instead of against it.

    September 30, 2008 at 10:03 pm |
  36. Henry Armwood, VA

    Good evening... I went to the bank today and asked them to bail me out by reversing $120 in fees they assessed for wire transfers and overdraft fees. Guess what the answer was?

    $120 is a lot less that $700 billion.

    September 30, 2008 at 10:03 pm |
  37. Bret Peters

    Yes the calm before the sorm. The only reason the market was stable today was confidence in action on a plan for Thurs.

    September 30, 2008 at 10:03 pm |
  38. Michael Seattle

    It's amazing that the congress would take the time off in such trying time's.Not that i have any thing against the Jewish Holiday.Tomowrrow will be the Moslem end of Ramadan celebration and a Moslem holiday.Will it be another day off for Congress?

    September 30, 2008 at 10:03 pm |
  39. Vishal

    Suze,
    I am 34 ready to contribute into a SEP IRA an amount close to 20,000.
    I have always put my retirement into Index funds primarily VFINX. Should I do it this time as well? With the time I have on hand to avail my retirement it seems like a great time to buy into the market as I have been doing till now. What do you think?
    Thank you
    PS. I just have a 15 yr fixed rate mortgage with 12 yrs left and no other debt.

    September 30, 2008 at 10:03 pm |
  40. Andrew, Laguna Niguel, CA

    Quick Question,

    If the banks can't make money on these poisoned securities, why does everyone think the government can?

    September 30, 2008 at 10:02 pm |
  41. Clarence Albuquerque

    Why all these add ons... just to pick up more votes? I wish they would vote on the bailout based on its being needed or not.

    September 30, 2008 at 10:02 pm |
  42. Christen

    will the economic crisis effect college students and their ability to receive student loans, and grants?

    September 30, 2008 at 10:02 pm |
  43. phil from boston, ma

    Never before have I emailed a tv talk show host or member of congress before this week. I cannot tell you how incensed and disgusted I am, as are many other Americans, with this whole financial market situation. I am disgusted with Congress' failure to exercise political courage and deal with this problem before it became a crisis. If I, as an average american, knew that these subprime loans and predatory lending practices were going down, and unbridled greed was the norm in the mortgage industry, how can Congress claim ignorance and suprise? They cannot, with any type of credibility. Even more disheartening has been the partisan bickering and Congressional members' adolescent-like behavior of late. Do they not get it? Are they that arrogant? Americans are mad, and unwilling to tolerate continued petty antics, from either side of the aisle. Every American should seriously entertain voting out the incumbent and clean house. It's time.

    September 30, 2008 at 10:02 pm |
  44. Lorie Ann, Buellton, California

    I guess all this meltdown has really highlighted just how much Congress has become a modern day Hatfield and McCoys. Bitter party rivals aren't going to help solve this crisis. They must try!

    September 30, 2008 at 10:02 pm |
  45. Megan Dresslar (Shoreline, Wa)

    Hellooo Anderson, Randi, and best bloggers!!!!!
    I can't wait both senators to vote tomorrow night!!!!

    September 30, 2008 at 10:01 pm |
  46. Tracey - Boston

    Good Evening,

    I have a question. Two weeks ago it was first mentioned that AIG needed to be bailed out. How did it become almost two-hundred companies?

    September 30, 2008 at 10:01 pm |
  47. Lisa L

    Dear Anderson,

    Hopefully it doesn’t come to this.

    A good way is for the government to give the banks money and it is repaid (not from the tax payers).

    Thank you for keeping me up to date with the news.

    Sincerely,

    Lisa L
    Sydney, Australia

    September 30, 2008 at 10:01 pm |
  48. MaryBeth

    Hello, Anderson and everyone. I guess we just sit and wait til tomorrow...

    September 30, 2008 at 10:01 pm |
  49. Roweena D'Souza, Seattle

    Evening bloggers,
    today seemed like a relatively calm day, or was it just me... sure hope it was not the calm before a storm!

    September 30, 2008 at 10:00 pm |
  50. Heather - Spokane, WA

    Good evening Anderson and everyone. Sounds like it's going to be another busy night.

    September 30, 2008 at 10:00 pm |
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