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. charles

    Is Pimco (PHK) owned by a hedge fund and will it continue to shrink in value at the current rate? Should we sell part of it now or continue to stand fast and hope for a recovery?

    My wife owns over 4000 shares and isn't sure whether to hold, or sell all, or part.

    Thanks for any advice you can provide. charles

    September 30, 2008 at 10:21 pm |
  2. CaseyJ - Palm Springs, CA

    @George Huger...I agree with you completely, but I can't hold out hoping that financial institutions will figure it out. Virtually none of them are in a position to make fixes because they can't even figure it out. In theory I'm against this "bailout," but as a practical matter, I don't see a choice.

    September 30, 2008 at 10:21 pm |
  3. Robert

    Hi Anderson

    Please have your coworkers find out the details of the Bill. If the people do not know what is being truly voted for then they are not truly informed.

    September 30, 2008 at 10:21 pm |
  4. Robert E. Chicago, IL

    I also agree with Ron Paul Rick from NJ. He has been warning of this for a long time. We need to look at solving the problem not prolonging the inevetible.

    September 30, 2008 at 10:20 pm |
  5. Naissa, Texas, USA

    Howdy Anderson.

    Suze, I am an eighteen year old college sophomore, and am planning on traveling abroad on my own this February. It is going to cost me around 3500 to complete my trip. Should I just NOT GO and keep my money in my wallet rather than go out and spend it? Or do you think it'd be alright if I did make the investment and find a way to pay it back if I decide to get a loan? Not only that, but I guess this means getting APPROVED for a loan will only become A LOT harder. Something I just don't need right now.

    Thank you.

    September 30, 2008 at 10:20 pm |
  6. Jo Ann, North Royalton, Ohio

    We couldn't trust the government to monitor the economic situation all of these years why should we give them $700 billion dollars to spend any way they see fit? That would be reckless of us and voters.

    September 30, 2008 at 10:20 pm |
  7. Lancy White

    I live in Alabama and all the people i talk to don't wont to give loan to wall street they dont think it that much of a problem just think its more lies and from the last 8 years they could be wright, I myself have a large 401K that i dont want to loose, I say bail them out and get on with the program.

    September 30, 2008 at 10:20 pm |
  8. John Thomas

    I am 55 years old have no debt aside from our home. Kids gone all educated and have $100K saved...what would you suggest....?

    September 30, 2008 at 10:20 pm |
  9. David

    For Suzie, i have 5k saved and i owe 5k in debt and want to buy a house here in Southern CA...should i pay off the debt or use it for downpayment?

    September 30, 2008 at 10:20 pm |
  10. Roger

    I have some aggressive fund selection in 401(k) ... in average have lost 30% of my investements in the last 1yr ... should I switch to safer funds now? I am worrying about losing more money if the market continues to go down but also worried that if the market reboounds we will make less money back via the safer fund!

    September 30, 2008 at 10:20 pm |
  11. Megan Dresslar (Shoreline, Wa)

    If senators reject vote the bill bailout tomorrow night....... are we going lose our money or broke (bankrupt)?

    September 30, 2008 at 10:20 pm |
  12. Patty

    Where is the Special Prosecutor? These corporate crimes need to be investigated and prosecuted...put that in the bill....demand it.

    September 30, 2008 at 10:20 pm |
  13. William Worthington

    Where is "A Government of the people, by the people, for the people?" I feel like our desire are largely ignored by our representatives and once they are elected thier only concern is being popular with lobbyist and special interest groups willing to throw money at them. NO BAIL OUT. Let the fools who created the mess on Wall Street clean up thier own mess. Americans will survive despite our lack of leadership and the greed of the mega rich.

    September 30, 2008 at 10:20 pm |
  14. Leanne Lynn

    Hi Suze- My husband had a good job with great pay and could not find anything comprable in pay- we are now facing foreclosure. Have not heard much about the house rescue bill that goes into effect Oct 1st- what is going on with that? We also have a total of $15000.00 personal debt which includes our cars, and are continuing to pay that down. Next year, we intend to start saving money AFTER we pay off this debt- good way to go? I can then open a 401 K but I think I want to avoid stock- should I just invest in CDs, bonds? Would love your suggestions and how I might contact you. Thank you very much

    September 30, 2008 at 10:19 pm |
  15. Rick

    How does the bail-out help the average American? Once again the average American seems to be left behind. Why don't they explain how this bail-out is going to help the country rather than Wall Street crooks?

    September 30, 2008 at 10:19 pm |
  16. d ann snipes

    us savings bond, i dont have much but i do have us bonds series i, r they safe?

    September 30, 2008 at 10:19 pm |
  17. Michigander

    Hi Suze, I'm living on a very small pension (from my deceased husband who worked at Ford) and a small check from Social Security. Do I have to worry about them? I have a small amount of savings, yet not very much...and live in my own home which is paid for...with it's value falling. I'd like to sell it in maybe 5 years & move into a smaller place. Do you think the values will ever go up..& if so, when??

    September 30, 2008 at 10:19 pm |
  18. Shiela Lund

    Suze – Do you still recomend Treasury Bonds as a good place for safe investments.....and if so, how & where do you recommend safely purchasing them (without paying high fees) for people with little or no experience with bonds? Also do TIPS have a better return than ordinary bonds?

    September 30, 2008 at 10:19 pm |
  19. Kim

    Suze,i am in middle class America,have some money put back,and husband in Iraq....I'd like to buy start buying some stock,is this an good time?thanks

    September 30, 2008 at 10:19 pm |
  20. Andy

    With all this talk about banks and keeping your money safe, would you be looking to make deposits in the highest yeilding bank or the safest bank? If the money is FDIC insured, and you're under the 100K FDIC limit, what could be wrong with searching out the highest yield?

    September 30, 2008 at 10:19 pm |
  21. Miranda

    What is the single most important thing an individual American can do during these financially uncertain times?

    Who will benefit the most from the current way the bailout is structured?

    Is it really that America does not have the money or is it that American politicians mismanaged our annual budget of 14 trillion dollars?

    Thanks for your time and effort Miranda

    September 30, 2008 at 10:19 pm |
  22. Cesar Mendes

    Hello Suze & Anderson,

    I hear a lot of adivce to keep your money in your 401k's and ride out the storm; however, what would your advise be for those of us that haven't yet put into our 401k's?

    I was just hired and was going to begin putting into my 403b. Should I just deposit into higher interest online banks?

    September 30, 2008 at 10:19 pm |
  23. Laura Gentile

    Dear Suze, I know you say not to use retirement money to pay credit cards, but my husband is 66, but still working and our separate ficos are each above 720 so is it worth it if the economy decreases our income.

    September 30, 2008 at 10:19 pm |
  24. Maureen

    Question for Suzie Ormond:
    My son has just graduated from college and has an entry level job that pays $650 per week. He has $400 per month that is not earmarked for bills. How much should he be putting in a savings acct for a rainy day fund?

    September 30, 2008 at 10:19 pm |
  25. Bryan Miller

    Suze, I heard you say the other day that if you have money in a brokerage firm that we should get it out now! That scared me because I have an IRA and about $ 20,000 in a CMA account at Merrill Lynch. Should I be worried?

    September 30, 2008 at 10:19 pm |
  26. Dave

    I have a question for Susie. I am a bond investor, layering bonds so that I get interest for my retirement expenses. One of the bonds was a Washington Mutual bond. When I got it, it was a A rated bond. Now that the FDIC took over, the bondholders were wiped out. How do I invests in bonds now? I thought I had a relatively safe investment, and laddering of bonds is a prudent way to invest for retirement income.

    September 30, 2008 at 10:19 pm |
  27. Bob


    What's the best strategy for cash in this environment? Pillow? Savings Account?

    September 30, 2008 at 10:18 pm |
  28. Janice

    Question for Susie - I am 56 years old and owe $150,000 on my house. I sell real estate and nothing is selling. Should I cash in my life insurance policies and mutual funds and pay off my house and get ride of a house payment and life insurance premium payments?

    September 30, 2008 at 10:18 pm |
  29. Dean Short

    Why not give the $700 billion bailout money directly to the American people to pay off their mortgages instead of loaning it to corporations?

    September 30, 2008 at 10:18 pm |
  30. william huey

    Don't you think some of these crook's should fail so that hard working
    AMERICANS like me and so many others can servive,

    September 30, 2008 at 10:18 pm |
  31. Delores

    Would it be unreasonable to expect a cut in student loan balances as part of the bailout package? As salaries go down the payments (in my case 420.00 month interest only), become more burdensome. Yet the Washington gang wants to bailout Wall Street greed and still leave those citizens with student loans at 7, and and 9% interest. I believe there should be a little "give and take" on the part of Congress rather than bail out Wall Street so Mainstreet can obtain student loans!! Give me a break.

    September 30, 2008 at 10:18 pm |
  32. Peter

    Hey Suze, I realllly need your help. I am a 25 yr old and I recently lost my job. I am 4 mths behind on my mortgage and I am having trouble finding good tenants to rent my multifamily house to. I am tempted to use my 401k which has about $3000 in it. Do you recommend this. What should I do? Help me Suze! 🙁

    September 30, 2008 at 10:18 pm |
  33. Chris B, Morganton, NC


    I’m 23 and have about 25,000 in a 401(k). I gross roughly 46K a year. I put 10% of my pay toward the 401(k) and my employer contributes 4%. Should I increase my contribution percentage, leave it the same, or lower it?

    My 401(k) portfolio is within a moderate risk with some in stocks.
    If I’m wanting to keep a moderate risk with my money, what percentage or ratio should I have in Stocks, Bonds, Money market….etc?

    And what percentage amount should I limit in putting in one company/fund?

    September 30, 2008 at 10:18 pm |
  34. cathleen Sheehan

    I'm 59 and retired. I have a pension for life from IBM that covers my current expenses. I also have 12% savings in cash/money markets, 12% in taxable bonds, and 76% in mutual funds. The objective of the savings is to cover cost of living increases and travel. Should I keep my money in the same distribution, or move it? Since April, my savings have decreased 15%

    September 30, 2008 at 10:17 pm |
  35. patrick j

    Susie; Iam 48 and contribute about $700.00 per month to my 401k. Should I cut back on this amount and put the extra money towards my mortgage


    September 30, 2008 at 10:17 pm |
  36. Gloria

    My main concern is my ARM which is going to adjust in about a year to a higher rate. With property value down and wages effectively lower than when we got the mortgage and higher cost of living, I know we will not be able to afford a higher mortgage. Is there any plan to freeze existing interest rate on these loans.That will be the bailout that will get my vote and give me peace of mind!! Main street will want that stipulation in the bailout plan and will perhaps get behind the plan.

    September 30, 2008 at 10:17 pm |
  37. John in Fargo, ND

    Hi Suze,
    I've been considering a move to South Korea for a while. I would have a job lined up. With the markets going wild around the world, is it a safe move financially right now?

    September 30, 2008 at 10:17 pm |
  38. William O'Connell

    Dear Suzy,

    I am 44. My retirement is in TIAA/ CREF. I have 70% in traditional, 20% in stocks and 10% in Real Estate. My boss suggested I am too conservative and this may be a good time to increase the percentage in stocks. I lost retirement money years ago due to a bad investment by a financial advisor in the stock market. This is why I am conservative. Thank you for your advice.

    September 30, 2008 at 10:17 pm |
  39. Devon

    Bye bye Miss American Pie. It appears that the elite is going to subvert the law to get their New World Financial Order in place. I ask our founding fathers to forgive us all..Vote No

    September 30, 2008 at 10:17 pm |
  40. Greg

    The key to the bailout is to bail out the taxpayers. Put a 1 year moritorium on foreclosures and mortgage payments. Use the bail out money to catch up those behind. Give companies who don't lay off people operating money and tax breaks. People with no mortgage payments will spend, save, invest, or catch up on bills, all of which benefits Wall Street tremendously. Much cheaper than the current proposal, and all the money wont go out at once. this way everyone at the table eats, and this will be much easier to sell to the public.

    September 30, 2008 at 10:17 pm |
  41. Derrick

    What's to prevent banks from taking the bail out money, shoring up their balance sheets and calling it a day (after the CEO gets his/her bonus)? What's to guarantee that they will "pay it forward?" What's to guarantee that the credit markets will get unfrozen? Banks are made whole, politicians are re-elected, Wall Street's happy, and the average American is still in debt, out of work, and in no better position than when the crisis started.

    September 30, 2008 at 10:16 pm |
  42. larry

    I'm hoping the investigation into Fannie Mae exposes the root of the problem which started in 1999.

    September 30, 2008 at 10:16 pm |
  43. Valerie Elaine

    I have heard on some radio stations that we should allow the people on "Main Street" who have these bad mortgages to go bankrupt and be turned out into the street. What exactly would happen to the economy if this was allowed?

    September 30, 2008 at 10:16 pm |
  44. Nicholas Chilton, Buffalo NY

    The major question I have about this "bailout" is what will happen to the value of my dollar if they decide to print all this money?? Please answer this because I never hear this side of the story for anyone.

    September 30, 2008 at 10:16 pm |
  45. Kevin Waugh(VA.)

    Suze, I am 52, live on disability, and attend college online. What impact does this market mess have on my student loans and disability payments?

    September 30, 2008 at 10:16 pm |
  46. lori

    This bail out to me sounds like a consolidation loan for debt in the market. Everything I've been told is never consolidate your debt because that could make you feel like you have buying power and end up deeper in debt.

    If we take this toxic debt as it is so called to free up the market to give out more loans for more debt – isn't that just taking us deeper into debt. Or will the credit still only be for the very best score (rightly so). But if this is to free up the credit so that people without a good score can once again get loans doesn't that just create more toxic debt.

    September 30, 2008 at 10:16 pm |

    The Question i have if you have $700-$800K in Cash at the Bank is it a Good time to Buy Munibonds that are General Obligated to be Safe and Conservative? or what else Could you do to be Safe with your Investment Beside the Failing Stocks?

    Love your Show,


    September 30, 2008 at 10:16 pm |
  48. Trevor

    Anderson, please get to the bottom of this mess and shine a light on all the rat politicans stealin from the U.S. tax payers. The F.B.I. should take over congress and the senate and arrest them all !!!! 1783

    September 30, 2008 at 10:16 pm |
  49. jessica

    How long can we go on with out a "bailout plan" before we really start to feel the effects?

    September 30, 2008 at 10:16 pm |
  50. joe dellosso

    Hello Anderson and Suze
    My mother is 70 and she doesn't know if she should cash in her 401k, she doesn't want to have to pay high tax's cashing it in but she's afarid to keep it where it's at because it keeps going down. What would you advise her to do.

    September 30, 2008 at 10:16 pm |
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