October 1st, 2008
10:00 PM ET

Live Blog from the Anchor Desk 10/01/08

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 (351 Responses)
  1. Patty

    Now Congress will be looking for jobs in a poor economy. ..serves them right.

    Go to the Polls in November, America.

    October 1, 2008 at 10:25 pm |

    hi anderson& erica had they the republicans done thier job in the congress and passed the bill, we would have saved trillions, but they were covering thier own jobs. not careing about people but themselves and blameing nancy pelosi. shows that they need to find new jobs at min wage.

    October 1, 2008 at 10:25 pm |
  3. kimberly

    I am very disappointed that our Govt made this decision at the HUGE risk of the American people..and even after the Huge number of Americans who are against it...
    Could a better plan that incorporated more help for the American people struggling been explored??
    My question still stands How does this $850 bail out help struggling Americans?
    Can you provide a time line?
    I feel like my voice as with many others has been completely ignored..
    If this fails I'd like the names of all to be held accountable..
    If this is what Change is all about, they can keep it!

    October 1, 2008 at 10:25 pm |
  4. Leigh, Charlotte, NC

    We need what ever will help credit loosen up. Without credit, companies and families will fail. When you have to leave town for a new job, you need to sell your house. I have heard interesting comments on the credit crisis and the speculators on Wall street from experts on all channels and NPR. I wish I understood it all better, but I wish our representatives would try to understanding. I don't think they are even talking to experts on anything but their re-election. I still don't know what they plan on using 700 billion for?

    October 1, 2008 at 10:25 pm |
  5. Jeff-->(D) Illinois


    I am with you.

    October 1, 2008 at 10:25 pm |
  6. toby m, montana

    I still do not under stand this bail out. It is 700 billion, now there are tax breaks for individuals and businesses. Is there a money tree somewhere in washington. Or are we going to pass on this debt to our children. Here is a point about the so called credit issue. How many of your kids in high school received credit card applications. In Livingston mt the seniors received over 7 different applictions for pre-approved credit cards. Any comments

    October 1, 2008 at 10:25 pm |
  7. Susan

    I'm angry and disappointed. How could they add on an additional $150 billion to this economic package? How do the lobbyists figure into this picture? Anytime there's lobbyists involved you know Washington won't act in our best interest. Add into this mess the people up for re-election afraid to take a stand for us. It seems the only time they're concerned about us is when they need money or our vote. Enough! I'm not saying we don't need this bailout but I believe we deserve an explanation of the $150 billion extra put into this program. It still has to get through the House so there may still be time for a clear explanation. We deserve it and we should demand it.

    October 1, 2008 at 10:25 pm |
  8. Karmen

    the sweetners that I read about do not help our just under $100K income household.

    October 1, 2008 at 10:24 pm |
  9. Marian

    What will eventually bankrupt this country will be the banks not being able to provide credit. Also the stock market constantly losing close to 800 points. I guess all the people wanting a no vote on this bill must have an awful lot of money socked away in coffee cans buried in their backyard .

    October 1, 2008 at 10:24 pm |
  10. Josh

    I am sick of each party not accepting responsibility for this. There are several factors that have caused this and we the middle class are getting screwed.. The Congress men/woman have never had real jobs and they think they identify with us cleen sweep vote out all of em

    October 1, 2008 at 10:24 pm |
  11. Chuck

    Anderson, Could someone, anyone, break down for us just WHO it is that's getting polled? How does this "magic" work?

    October 1, 2008 at 10:24 pm |
  12. Kate

    Today Senators assured us there will be adequate oversight of Paulsen but we know how well Congress has provided oversight of the Bush adminstration up until now. Not!

    October 1, 2008 at 10:24 pm |
  13. paul from wisconsin

    Bill clinton told everybody its time to support rescue plan. Good enough for me. Let's go!

    October 1, 2008 at 10:24 pm |
  14. Dee Montgomery

    I only make about $40,000 per year. Today I received an offer in my mail from Bank of America. They say they have pre-qualified me for a loan for up to $50,000 at a rate of 8.99% (not variable based on prime rate). But I'm hearing the banks have no money to loan. Could this be propaganda?

    Dee in Phoenix

    October 1, 2008 at 10:24 pm |
  15. Mark Dunnick

    I am very disappointed in the Senate's vote. I agree with a previous comment along the lines of "what a gamble", and "why should we as tax payers shoulder the bill of some bad decisions of banks". I hope that the House continues to hold out and vote this huge bill down. I believe there are a lot of "fat cats" (and this is politicians and businesspeople alike) who will gain more from this bill passing than the average tax payer and homeowner. I only hope the House of Representatives do their job in representing the people and vote this down. Evidently some members of the Senate don't realize why they were sent to Washington. We'll see what happens come this next election.

    October 1, 2008 at 10:24 pm |
  16. Mary Zamboli

    Many of the "sweeteners" in this bill are for the protection of big business, not us little folks. Even increasing the amount insured to a quarter of a million dollars points to the rich staying rich and the poor and middle class paying for it.

    October 1, 2008 at 10:24 pm |
  17. Katie of Davis, CA


    The banks have to slow down lending in a recession because there is an increased risk of default. Otherwise, they will find themselves in a situation where they do not have enough cash on hand to meet their reserve ratio ....

    Oh, I guess I should mention I have an MA in Economics

    October 1, 2008 at 10:23 pm |
  18. Fred, Ojai, CA.

    No! No! No! ..... Why can't the taxpayer's money be given to the taxpayers in severe debt–in turn being given to the super banks in DEBT. Would that be a win/win situation? Oh, but that plan leaves out all of the 'Already Rich People'.. So I guess ' Joe Barbaque' is screwed either way.....

    October 1, 2008 at 10:23 pm |
  19. Ajay

    The fat cats at Wall Street get $700B. "We The People" get the foreclosure notices. Doesn't look like anybody is watching out for us. We are on our own.

    October 1, 2008 at 10:23 pm |
  20. Gary

    Obama, Nancy Pelosi, Barney Frank, Dodd, Shumar…..all birds of a feather who denied that Freddie and Fannie needed reform even after the Bush Administration asked for reform nine times. Do you want these partisan democrats managing YOUR health care. Do you want them managing your social security?

    October 1, 2008 at 10:23 pm |
  21. Toby - Virginia

    Stop picking on Palin for her inability to think quick on her feet with Couric. She is still learning, you can not expect too much from her.

    October 1, 2008 at 10:23 pm |
  22. Alex C. Balla

    I have written all of my representatives and for my Senator who voted yes for this plan I will be voting him out of office. This is terrible to see so many of these Senators saying they represent us, acknowledge many of their consituations don't want this plan and they IGNORE them and vote yes. I am tired of our Congressmen not listening to what we as the people they represent say they should or shouldn't do.

    October 1, 2008 at 10:22 pm |
  23. David

    I am against the bail out, but worse that the bail out is the hypocrisy of both presidential candidates. They both rail against lobbyist and pork barrel spending, yet they both vote for a bill that has totally unrelated attachments. Do they seriously think that American voters are that ignorant?

    October 1, 2008 at 10:22 pm |
  24. jim

    I did nothing wrong why do I have to pay for this?

    October 1, 2008 at 10:22 pm |
  25. Sue

    Fact is, the bailout stinks but so does watching our economy circle the drain if there is no 'rescue' bill. I'd like to know why the CEO's and others who knew darn well that information on mortgage applications was invented, misrepresented, whatever, to make the applicant appear to be eligible for a loan, aren't to be prosecuted. Isn't knowingly doing that fraudulent and against the law?

    October 1, 2008 at 10:22 pm |
  26. bob

    So lets see the fed dumped 630 billion into the world economy tue now they will spend 700 billion more? ron paul looks smarter everyday.

    October 1, 2008 at 10:22 pm |
  27. Jon

    Since our politicians and government won't listen to us taxpayers, maybe we should all quit paying taxes because they are not spending our money to take care of us. Maybe we should all quit working and let our government support us with all the money we have paid in for all these years. They need to go find this missing $850 billion dollars and take it back.

    October 1, 2008 at 10:22 pm |
  28. jayson

    Once again, we have politicians who speak in circles and walk in shadows telling us what is best for the us and the country. Let the markets come down, let banks, businesses and investors who "cooked" their books and lied about how much capital they really had or earned take the hit! If we allow the sytem to fix itself, like mother nature does after a natural disaster. Homes will level off to a more realistic price, food, gas and other needs will level off as well. Of course the biggest reason the President and Washington want this to pass is, to protect the money of Foriegn Investors....Or the other countries who actually own OUR country!!

    October 1, 2008 at 10:22 pm |
  29. Joanna Davies

    We keep hearing about the bail out; but little of the CEO restrictions. Do any of you know what the real deal is????

    October 1, 2008 at 10:21 pm |
  30. Eric

    Lets not forget how we got into this mess – Greed! Lets concentrate on safety, security, and peace across all nations. We need a resolution to this economic crisis but if the terrorist threat reveals itself again there will be no need to worry about the economic rescue package.

    October 1, 2008 at 10:21 pm |
  31. Monica M. Williams

    On the Congressional Bailout Plan: The constant chatter insisting something be done NOW is frustrating. This situation did not develop overnight? I would prefer that we, as a country, wait for the approval of a balanced plan benefiting the greater good than rush to approve something for a select few. Its “We the People” remember. Not “We of Wall Street”.

    October 1, 2008 at 10:21 pm |
  32. Gary Evans

    I'm not sure but aren't most of the 100 Senators involved someway or another in real estate. I would hope that that didn't bias their vote. I oppose this 700 bln bailout because the rich have been getting rich on the backs of the weak for ever and don't look back and their doing it again. wish us all luck this time. Thanks Anderson and Erica.

    Best Regards, Gary

    October 1, 2008 at 10:21 pm |
  33. Dave Roberts

    As an American, I am nothing short of perplexed that our government is so eager to lend a helping hand to the commercial credit markets by soaking up bad mortgage securities, but deliberately failing to provide assistance to Main Street by stopping the estimated 10,000 foreclosures each day in America today! So much for our representatives actually representing their constituents!

    October 1, 2008 at 10:21 pm |
  34. Laurie, Wisconsin

    Are you kidding me with this Senate vote??? They should be COMPLETELY ASHAMED OF THEMSELVES for ADDING an additional $100+ billion to this bill. If these extra items were worthy and essential, then they should have been able to stand in a bill by themselves. Absolutely unbelievable!!!

    October 1, 2008 at 10:21 pm |
  35. Jefferson

    The fact that this bill passed the Senate only shows that the problems of our "economy" have very far reaching influences. My opinion it would not reach into my pocket nearly as much as it would the people voting on this bill. Why do we not have criminal charges going on... so the criminals can vote on the bill first.

    October 1, 2008 at 10:21 pm |
  36. Martin Zehr

    I am outraged, angered and frustrated at the action of the Roman Senate. It has denied the people OUR right to determine policy. They willingly showed their contempt of American public opinion. They sit as Imperial Warlords sit and presume to act in our name.

    October 1, 2008 at 10:21 pm |
  37. Doug

    Those "leading" our country are the most self serving group thieves ever. They make me sick to my stomach. "The bailout is not a bailout it is an investment in our country." Unbelievable! They have lined both their campaign accounts and their friends pockets with our money. Their own greed has caught up with them but once again the American public pays through the nose. Every last one of them, Republican and Democrats should be voted out of office.

    October 1, 2008 at 10:21 pm |
  38. Craig

    It was very interesting to watch Rep. Barney Frank claim he bore no responsibility for the Fannie Mae/Freddie Mac crisis. How he can say that with a straight face is beyond me. Is anyone aware that the top four Congressional recipients of money from Fannie Mae are Sen Christopher Dodd, Sen. Barack Obama, Sen. Charles Schumer and Rep. Frank? These people have no credibility and are all corrupt. How come no one reports on the truth?

    October 1, 2008 at 10:21 pm |
  39. Leslie from Ct.

    From what I understand these credit default swaps (derivatives) are part of the mortgage backed securities and there are more than 5 trillion of them. We're talking about a bottomless lake of debt. How is
    a financial bailout a solution to this problem?

    October 1, 2008 at 10:21 pm |
  40. Megan Dresslar (Shoreline, Wa)

    Thanks Ali V for clear understand talking about $700 billion dollars.

    October 1, 2008 at 10:20 pm |
  41. Mark

    I, like a lot of Americans with mortgages, would like the government to pay off my mortgage. What are the chances of that happening? Seems like a good idea to me.

    October 1, 2008 at 10:20 pm |
  42. sylvia, chicago

    I understand the outrage and disappointment many feel in light of the bailout...but if all of those people truly want change they need to put party rhetoric aside and get behind it...it is absolutely necessary

    October 1, 2008 at 10:20 pm |
  43. Don in Manhasset

    Senator Obama has it right when he speaks of change but the real change we need now is to vote out all the current incumbents. They have thrown away americans' future. Say goodbye to the almighty dollar.

    October 1, 2008 at 10:20 pm |
  44. EJ (USA)

    I think Congress is having a hard time communicating this to the American people. They appear to be talking to themselves and are forgetting that we are watching (even if its through the analysis of the media.)

    Can't they try to put together a bill – but then slow down and ask us directly what we think? Show us how they can work with us since we've already lost so much trust in the federal govt – especially over the last few years.

    October 1, 2008 at 10:20 pm |
  45. patricia in oklahoma

    We can only hope the house has sense enough to reject this bill. I feel my arteries harden just reading all the pork.

    October 1, 2008 at 10:20 pm |
  46. Jason - Orlando, Fla.

    Maybe we should have congressional elections more often, it seems to inspire them to act swiftly and to listen to their constituents.

    October 1, 2008 at 10:19 pm |
  47. Yolanda

    When I see Senators who have served more than 2 terms or Representatives who have served more than 6 consectutive terms (12 years) it further verifies my belief that our elected officials are too far removed from "We the people". Whether it's DC or Wall Street, absolute power corrupts absolutely. Have they all forgotten who they are working for or where they live?

    October 1, 2008 at 10:19 pm |
  48. Janice Kay Leftwich

    I am discusted with the way goverment gets us into this finacal desaster yet leave the taxpayers to bail them out. Maybe someone should try asking the family forced to live in there car and no longer have anything else to loose because nothing has been done to stop the long down hill decline of the middle class/working poor. How are the working class suppose to support the never ending greed of the wealthy.

    October 1, 2008 at 10:19 pm |
  49. Christian

    how does the bill affect an individual family that is facing foreclosure, e.g. two kids, one in college with student loans, high interest on morgage, car, overextended on credit cards like most americans, one spouse lost job... u get the picture.. what is this family getting out of this bill besides getting more credit to dig them even deeper into trouble ?

    October 1, 2008 at 10:19 pm |
  50. David, Indiana

    I commend the senate for coming together to vote on this bill, but it's hard for me to focus on the campaign and this crisis at the same time

    October 1, 2008 at 10:19 pm |
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