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Editor's note: Tonight on AC360° Suze Orman returned to discuss the tumbling financial markets and answered your questions. You can watch the segment here. Here is what she had to say:
Anderson Cooper: A lot of questions, a lot submitted on the AC360° blog. There is down right fear, panic. Is that counterproductive?
Suze Orman: It is not counterproductive, it's real. It's how people feel and the markets are made up of how people feel. They buy or they sell based on their emotions, Anderson. It's how it has always been. When Ali does this thing with the drugs, I was talking to you before we went on air, this is what is happening. People feel they need medication because they are panicking.
It's as if the economy right now is in the I.C.U. unit of a hospital. We are in intensive care and they are throwing everything type of medication at us to cure what is going on. They are panicking because why? Nothing is working. They tried this, it didn't work. They tried that medication, it didn't work. They are running out of prescriptions to give it. We are going to be in the I.C.U. unit for a while. Eventually, I don't know when that will be, six months, a year, year and a half, we will get out, we’ll be in the hospital then. We'll stay in the hospital for about a year or two. After another year or two we will end up in rehab and then we'll be okay. This is a long stretch. People have to stop panicking. This is here to stay, if you ask me, for a long time.
Lisa Ort
AC360° Producer
Culprits of the collapse…and other stories on our radar:
ON THE TRAIL: Sen. McCain spends the day in Wisonsin with a town hall meeting in Waukesha and a rally in Mosinee. Sen. Obama is in Ohio with rallies in Dayton, Cincinnati and Portsmouth. Gov. Palin is also in Ohio and is holding a rally in Wilmington. Sen. Biden has gatherings in Liberty, St. Joseph and Jefferson City, MO.
RAW POLITICS: Alaska Gov. Sarah Palin's husband has submitted written answers to questions in the state Legislature's investigation into the firing of her public safety commissioner.
CULPRITS OF THE COLLAPSE: Dick Fuld is the former CEO of Lehman Brothers who was able to earn $480 million dollars while his firm collapsed. Could he have helped prevent the current financial crisis?
ECONOMY: The Labor Department releases the weekly report on jobless claims.
GASPAROVIC VISIT: The President of the Slovak Republic Ivan Gasparovic is scheduled to meet with George W. Bush.
For what’s in the program take a look at tonight’s Evening Buzz.
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.
Maureen Miller
AC360° Writer
Cha-ching! AIG is getting MORE cash from you the taxpayer. You're SOOO thoughtful. (Cough! Cough!)
The New York Federal Reserve is lending up to $37.8 billion to the troubled insurer. That's on top of the $85 billion loan the federal government gave the world's largest insurer last month.
Do you think AIG should get this extra loan? FULL POST
Erica Hill
AC360° Correspondent
Confession: I’m a little nervous about the teenage years, though not as worried as I would be if I had a daughter instead of a son. I was a teenage girl once, and while I wasn’t a complete horror show, I do remember those years…and I shudder a bit when I look back. Frankly, my behavior makes me love and respect my parents even more. While no teenager is a joy all of the time, I also know neither I or my sister were so terrible that my parents felt they couldn’t handle us.
Some parents don't have it so easy.
In Nebraska, a new law is making it a little easier for parents who do feel they can’t deal with their children, but this isn’t what lawmakers had in mind. The state’s "safe haven" law allows parents to anonymously hand over a child to a hospital and protects the parent from prosecution. One problem: the law was intended for infants, but it lacks an age limit, and parents know it. Since this bill became law in July, only four of the 17 children left by their parents are under the age of 10. One 14-year-old girl was even brought across state lines from Iowa.
See the report by AC360°'s Joe Johns and Steve Turnham on AIG tonight, the first in our new series "10 Most Wanted: Culprits of the Collapse."
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Steve Turnham
AC360° Producer
Remember all those stories about welfare moms driving cadillacs? They were 99% myth. Here's one that isn't. The insurance giant AIG takes 85 billion in taxpayer money, throws a nice little 400,000 dollar pedicure party for it's top earners, then comes back for another 37 billion welfare check.
AIG has an explanation. And you'll hear it tonight on AC360° as we begin our countrywide hunt for the top ten most wanted culprits of the collapse.
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caption="Sarah, Trig, Todd, and Willow Palin after the V.P. debate last week."]
Andrew Sullivan
The Daily Dish, The Atlantic
Here are [births at Mat-Su General in April 2008] listed on the hospital's website. Trig Palin, who was born there, Sarah Palin tells us, on April 18 at 6.30 am, is nowhere to be found. If you can find any public record of Trig Palin's birth anywhere, please let me know. I will gladly publish it as soon as I find it. So far, none exists that I have been able to track down.
The Dish contacted Mat-Su and asked what the criteria are for including the names of the babies born in the hospital.
They said that inclusion on the list is by parental choice and they ask all parents. When asked if it was therefore a fair inference to say that they asked the Palins and the Palins chose not to have their child included on the list, the hospital told us that the Palins' privacy barred them from answering those questions. I asked the McCain-Palin campaign to comment but they refuse to answer my emails.
As far as the propriety of demanding such basic public records, I am merely following Sarah Palin's own standards. In her first race for mayor of Wasilla, she demanded the marriage license of her opponent be made public. Why? Because his wife kept her maiden name – and Palin deemed that sufficiently unusual to demand total transparency. If that level of transparency is necessary for the race for Wasilla mayor, why is it "unspeakable" for the vice-presidency of the United States? Is being mayor of Wasilla more significant than possibly being US president?
Ready for today's Beat 360°?
Everyday we post a picture – and you provide the caption and our staff will join in too.
Tune in every night at 10p ET to see if you are our favorite!
We're bringing yesterday's Beat 360° back because it was such a hit, but got buried in debate coverage. Here is the 'Beat 360°’ pic:
President George W. Bush speaks at Guernsey Office Products Inc. Tuesday in Chantilly, Virginia. Bush delivered his remarks following a meeting with business leaders on the 'Emergency Economic Stabilization Act of 2008.
Have fun with it. We're looking forward to your captions!
Make sure to include your name, city, state (or country) so we can post your comment.
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But wait!… There’s more!
When you win ‘Beat 360°’ not only do you get on-air prime-time name recognition (complete with bragging rights over all your friends, family, and jealous competitors), but you get a “I Won the Beat 360° Challenge” T-shirt!
Good luck to all!
Update: Today's winner is Judy, who wrote:
Those guys from AIG got ripped off. My manicure only cost 2 thousand dollars. Maybe they got polish.