For what’s in the program take a look at tonight’s Evening Buzz.
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Oh, how the last hour of trading seems to be brutal on Wall Street. Just like yesterday, the Dow took a nosedive just before the closing bell. Stocks sank more than 400 points within 60 minutes leaving the Dow at its lowest level in five years. Blue chips ended the day down 678 points at 8,579. You read that right. The Dow is now below 9,000. It's at its lowest level in five years and has lost 40% in the past year. Ouch!
Tonight, we're also tracking the Asian markets where trading is already underway. They can set the tone for trading tomorrow on Wall Street.
And, we'll check in with CNN's Ali Velshi to get a sense of why investors are still nervous. Personal finance expert Lynnette Khalfani-Cox is also here to talk about what this all means for your bank account.
What do you think needs to be done to help stabilize the markets?
Tonite, we'll also reveal who's number two on our list of the 10 most wanted: Culprits of the Collapse.
All that more at 10pm ET.
Hope you can join us!
I love learning more about my family’s safety in the skies, yet the news never seems to be as reassuring as I’d like. Like the fact that the US is operating on a World War II-era air traffic network that sends us on longer, more circuitous routes wasting not only time, but billions in fuel. I wonder if this is also the reason our recent flight from Atlanta to LaGuardia took us for a scenic aerial tour of Connecticut before finally landing. Normally, the pilot gets on the horn to let you know the tower needs the plane to circle. On this flight, however, nada…just a bird’s eye view of the yachts which may or may not be there come spring.
There is a newer, more accurate system available. It has a $35 billion dollar price tag (hmmm…not far from AIG’s second bailout amount) and snazzy GPS, which I hear is all the rage with the kids these days. Backers say the system would triple air traffic capacity, improve safety, curb greenhouse emissions and – I hope you’re sitting down – reduce delays by at least half. WOW. So why aren’t we making the switch?
caption="Gov. Sarah Palin in Florida on Tuesday"]
Editor's note: Watch Randi Kaye's report tonight on Election Center and AC360° at 8 and 10p ET.
Put ten women in a room and there is no shortage of conversation!
That was the case during a recent visit I made to the home of Tami Nantz.
Tami is a 37-year-old stay-at-home-mom who lives in Florida, a battleground state.
She invited some of her friends over to chat about Sarah Palin for a story I’m working on.
You see, since Palin was named as the V.P. Republican nominee her fan base has really dropped off.
In fact, CNN polls, and many others, show that John McCain has actually lost any gains he made among women voters after Palin was first named to the ticket. Time Magazine’s recent poll shows Barack Obama with a 17 point lead among women.
Women I meet either love her or hate her.
The women we met in Florida are big fans. They call her nomination “brilliant.”
Why is that?
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!
Here is the 'Beat 360°’ pic:
Vice Presidential candidate Alaska Gov. Sarah Palin waves during a campaign stop on the campus of Lehigh University October 8, 2008 in Bethlehem, Pennsylvania. Hundreds of supporters attended the event.
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.
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.
Editor's note: Watch Ed Rollins tonight on AC360° with David Gergen and Paul Begala.
GOP Strategist, Former Huckabee National Campaign Chairman
This race is starting to feel like the 1980 Reagan- Carter race. The country is desperate to change from the Bush policies as it was in 1980 from the Carter policies. Reagan won in an electoral landslide winning 44 states; 489 electoral votes and 50.7% of the vote in a three person race. (Carter got 41%). Equally important a switch of 12 Senators to the Republican side and 35 in the House allowed Reagan to get much of his agenda through in the first several months.
Obviously, this election isn't over but McCain's prospects dim by the day. If Sen. Obama wins it won't be by the Reagan numbers but it could be an electoral landslide and well over 50% of the vote. He also is going to bring in a large number of new Democratic Senators and House members that could make this a re-aligning election.
A substantial lead in the polls, resources allowing Sen. Obama to out-buy Sen. McCain by a three to one margin on television, and a far more extensive get out the vote operation, all combined with a bad economy add up to a formula for victory for Sen. Obama.
I don't underestimate John McCain and I admire his courage but overcoming a "mood for change", more intent supporters, more television and a ground operation better than any modern campaign is an almost impossible task.
Have unanswered questions about what the financial market turmoil means for your wallet, retirement, mortgage, or job?
Submit them to us here, we'll be taking more questions live tonight on AC360° tonight at 10p ET.
Azam Ahmed and Ofelia Casillas
Chicago Tribune reporters
As the nationwide mortgage crisis puts the squeeze on homeowners, the Cook County sheriff's office is on pace to evict more people than ever from foreclosed homes.
At least it was until Wednesday, when Sheriff Tom Dart announced he wouldn't do it anymore.
Dart cited the growing number of evictions that involve rent-paying tenants who suddenly learn their building is in foreclosure because the landlord neglected to pay the mortgage. By refusing to do any foreclosure-related evictions, the hope is that banks will change their policies.
As it happens, the decision also will spare from eviction those legitimately in foreclosure.
It is the latest, and perhaps most curious, government response to the soaring number of foreclosures. Even as federal bailouts and rescues are under way, the local action provoked a mixture of respect and confusion from housing advocates and banks.
Indeed, some mortgage experts suggested Dart's vow could compound problems by making lenders reluctant to extend credit at a time when loans are already hard to get.
We are witnessing something remarkable here: Obama's race is receding as he becomes more familiar. His steadiness has trumped his skin color; he is being judged on the content of his character. But there is a real challenge — and opportunity — inherent in his success. Obama has taken some inspired risks in this campaign. His willingness to propose more governmental control of the health-care market is a prime example. But he has also been very cautious, a typical politician in many ways. The most obvious is in his resolute unwillingness to deliver bad news or make any significant demands on the public. Neither he nor McCain had anything but platitudes to offer when asked what sacrifices they would ask of the American people. Worse, when Brokaw asked if he thought the economy was going to get worse before it gets better, Obama flatly said, "No. I'm confident about the economy."
That was, no doubt, the politic answer. But not the correct one. Obama was underestimating the public's capacity to hear the truth — which is odd, since the national desire for substance, the unwillingness to be diverted by "lipstick on a pig" trivialities, has been so striking in this campaign. Everyone knows this recession is going to hurt, that there will be a price for our profligacy and that some hard shoveling will be necessary to get out of this hole. Indeed, that knowledge is what has made Obama's success possible. But if he wants to do more than merely succeed, if he wants to govern successfully, he is going to have to trust the people as much as they are beginning to trust him. After years of happy talk from politicians, that is the change we really need.
Program Note: CNN Heroes received nearly four thousand submissions from 75 countries. A Blue Ribbon Panel selected the Top 10 CNN Heroes for the year, and over 1 million of you voted for your CNN HERO OF THE YEAR
WATCH CNN HEROES: AN ALL-STAR TRIBUTE
A Global Celebration: Thanksgiving Night at 9p ET
Marie Da Silva | MY STORY
I received the call from the CNN producer on my cell phone when I was walking down the street in Santa Monica. When he told me I had been selected as a winner, I was screaming and crying on the street. People stopped to look at me. A lady came up to me to ask me if I was alright. I told her I was happy.
I could not believe it because just a few hours later, that very same day, I was on my way to Malawi to open the new secondary schoolblock we have just finished building.
I am very honored to be among many great heros of 2008. This award allows me to put the spotlight on the AIDS orphans of Malawi and show the world how education is important for them.
The school I have built will house 160 AIDS orphans who were unable to go to secondary school and graduate to go to university. Education opens doors to a better future for them.
I am very thankful for this recognition as it has helped me provide what I truly believe in. Thank you, CNN Heroes.