October 9th, 2008
09:41 PM ET

Live Blog from the Anchor Desk 10/9/08

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.

Filed under: Live Blog
soundoff (332 Responses)
  1. Rick Salisbury

    When looking at the finacial meltdown it appears the Democrats mandated easier loans to get more people into housing and Republicans eased regulations to make that happen. Both sides are to blame. When naming your 10 culprits, who among the Democrats and Republicans paved the way for this it happen?

    October 9, 2008 at 10:13 pm |
  2. sica

    i don't understand why obama is referenced as a socialist.
    the idea that the government is bailing out these big firm is not that socialism at its' best.

    October 9, 2008 at 10:13 pm |
  3. cindy

    we are in our middle 50's 40% of our 401K is now gone. cant pull it out, between taxes and fines there wont be any left .. what do we do ?

    October 9, 2008 at 10:13 pm |
  4. Roland from Canada

    What amazes me, sitting here across the border in British Columbia, is that the Republicans believe that fear about the global economic crisis can be re-channeled towards creating more fear about choosing Mr Obama as their next President. Your election should not be about choosing someone based on fear, rather it should be about finding the best person with positive, real solutions to recapture the confidence in America that the rest of the world is waiting for. America is a great country, start acting like the people the last generation of Americans were noted for.

    October 9, 2008 at 10:13 pm |
  5. Steve/Houston,TX

    I'm not as concerned about the economy because I know Barack Obama has a real plan to get us back on track. It's interesting that Sarah Palin is requesting Americans to ask more questions about Obama and Ayers yet, her and her Alaska staff have not been cooperating with the investigation. It just boggles my mind that there is just a double standard.

    October 9, 2008 at 10:13 pm |
  6. Patricia

    Because of this economic crisis, is it possible that whomever get to be president does this mean they will sell us all out to other countries?

    Since we all know now that America is in serious trouble because of the ones which had so much greed and put us in this mess?

    October 9, 2008 at 10:13 pm |
  7. Linda Kernick

    I am so sick of hearing "you are in for the long term." I am 63 years old, retired and recently widowed. I am the long term. I would so like to hear a financial advisor say "Sell some of your investments and sit it out so you won't lose more. You can always reenter the market." "Sell" is not in the stockbroker's vocabulary. Thanks for your show, and constant support of New Orleans, Mr. Cooper.

    October 9, 2008 at 10:13 pm |
  8. Vik

    With the current financial crisis taking place, what are the chances that the Iraq war financial requirements on the US Government may have also played a role in the financial meltdown?

    October 9, 2008 at 10:13 pm |
  9. Cameron from California

    Does the McCain campaign's attempts to draw an association with Bill Ayers represent modern-day McCarthyism attempting to loosely associate Obama with word terrorist? Why is the campaign attempting to invoke fear when the economy is in historic turmoil.

    October 9, 2008 at 10:13 pm |
  10. John-Canada

    I am an active/ day trader (trades mostly the US stocks) and I have lost between October last year and now over $140,000.
    Every time I have tried to make something out of this market ,it burns me.
    now am totally wiped out of all my trading funds.
    It is ridiculous that your politicians are focused on this CHARACTER NONSENSE.

    October 9, 2008 at 10:13 pm |
  11. Sue, Illinoi

    I hope to retire in next 5 years. Should I leave my retirement where it is or put it in something more stable. Any advice?

    October 9, 2008 at 10:13 pm |
  12. Lucy

    Forecaster are not able to foresee positive anything near. Consider this scenario. What if the banks are not able to reboup the 700b. Likely scenario given current situation.

    October 9, 2008 at 10:13 pm |
  13. Andy

    Your culprits should include:
    1) Alan Greenspan (encouraged and enabled the housing bubble). Really, why doesn't anyone speak openly about the Federal Reserve's role in this?
    2) George Bush (spent $3 trillion on a war, destroyed USA credibility
    3) Bill Clinton and Phil Gramm (repealed Glass-Steagall)
    4) Richard Nixon (took us off the gold standard, which enabed deficit spending)
    5) American Voters (won't elect anyone who'd dare to tell us the truth and make responsible long-term decisions).

    I heard a good one today from economic blogger Mike Shedlock:

    "You can't fix a broken dam by pouring water on it."

    October 9, 2008 at 10:12 pm |
  14. Jo Ann, North Royalton, Ohio

    The media didn't report on Rezko, Wright, Ayres, or ACORN until they were forced to.

    October 9, 2008 at 10:12 pm |
  15. Catherine, Houston

    Hey 360 Gang,

    I'm a 21yr old student and I'd love to snag some of this discount stock but I have no idea how to do it. Any recommendations?

    October 9, 2008 at 10:12 pm |
  16. john o

    the president will speak tomorrow about the crash. WHY? the market goes down as he is speaking!!! the president is one main reason for the lack of confidence in the country!!

    October 9, 2008 at 10:12 pm |
  17. Tom Kelley

    Jeff, as to your question about hitting rock bottom – I think not yet, but there will be rocks at the bottom! I do wonder if mutual funds will be fulfilling redemptions so fast that some funds become illiquid. Or they get too small to operate (since they are based on scale and economy of operations).

    As this rock passes through the snake, what will be the nest aspect of the financial system to freeze up?

    October 9, 2008 at 10:12 pm |
  18. Catherine Logue

    I am retired one year. to date I have lost 100,000.00 . What should people like me be doing? Any good ideas on how best to survive this horrible mess

    October 9, 2008 at 10:12 pm |
  19. Venkatesh Valluri

    I am really tired of both the media and other financial analysts scaring the hell out of people watching CNN. This not only makes people scare and pull out moneys from stocks, but wont help a bit anyway. Thanks to Ali Velshi and other analysts, their tone is to scare people and would not help this economy a bit.

    We are an economy which can survive only if people spend so businesses can survive. Not scare them with all kinds of statistics.


    October 9, 2008 at 10:12 pm |
  20. Mary White

    My opinion on this rediculos bailout is every person in the Senate, House of Rep, including President Clinton, Wall street, and all the lending organizations should be penalized each 1 million dollars and be fired and or not be re-elected.

    The lending instututions personnel involved in exploting homebuyers should be jailed as well as those ceo's in Fanny Mae and Freddie Mac.

    Neither Barock nor McCain deserve my vote.

    Still Undecided

    October 9, 2008 at 10:12 pm |
  21. Mimi from Philly

    Hi, Anderson. I can't believe that we put so much money in the hands of a few people, when NO ONE really know what's going on or how to fix it.
    As far as the election:
    If Bill Ayers had the magic bullet to fix this financial mess, while we watch our 401Ks, IRA's, our dreams and our futures melt away, and could give me back the $30,000 that I've lost in 2 weeks, bring him on!

    October 9, 2008 at 10:12 pm |
  22. Nathan, Portland OR

    Hello Anderson,

    I hear people debating the economy, and I hear people debating the war, but I haven't heard very many people debating both as a symbiotic problem. If this crisis with our economy worsens, would it be the responsible move to call a halt to our war machine and pull in the war effort in order to insure our country does not fully collapse?

    October 9, 2008 at 10:12 pm |
  23. Michelle

    Hi All:

    I wonder what party the 10 Most Wanted typically vote for? "I betcha" it's Republican.

    Most wanted = Criminals = Republicans

    Oh, a little fact checks about the McCain/ Palin lies would be helpful.

    Why is 99 % of the REpublican party white? Hoolagians? Who is he talking about?

    October 9, 2008 at 10:12 pm |
  24. Cortez

    When did caring about people and whether they have healthcare or can afford food, gas etc become so socialist

    October 9, 2008 at 10:11 pm |
  25. David, Indiana

    Hi Anderson, Erica, everyone blogging. It looks like the market rallied twice this year when I see that chart. Is it going to be possible for the credit market to loosen up? before the bailout takes effect?

    October 9, 2008 at 10:11 pm |
  26. freddie evans

    I really want the MCCAIN camp to give the american people a better plan on how they plan on helping the economy and stop using negative ads to distract voters

    October 9, 2008 at 10:11 pm |
  27. Starla K. Paris

    When Sarah Palin initially came on the national scene at the Republican National Convention, almost every evangelical that I know went crazy over her. As an evangelical myself, I was perplexed by the reaction to her, but she had been well received. I haven't heard any polls regarding how she is fairing in this group now that she has had exposure that to me reveals that she is not equipped for the job she desires. Do you have any numbers?

    October 9, 2008 at 10:11 pm |
  28. Topher

    With the current economic crisis, will Americans learn to live with in their means? The reason we are in the state we are is not just due to greedy executives. We have all been living beyond our means for too long. Try and name one person you know that is not in debt right now. T

    October 9, 2008 at 10:11 pm |
  29. Don Zeigler

    Is there any way that people who want to do harm to the country, such as Al Qaeda, can be manipulating the market through short selling or other techniques to push along this stock plunge?

    October 9, 2008 at 10:11 pm |
  30. jason

    I don't have any stocks but I'm still worried. I am on SSI disability will this get to the point where my entire income is frozen?? that's what scares me.

    October 9, 2008 at 10:11 pm |
  31. Martin

    I have some money lying around. When the market is down, there are good buys out there. Anderson, can you guys talk about what are some good stocks to buy now?

    October 9, 2008 at 10:11 pm |
  32. Steve

    Why do we have to cut back, when people like AIG don't?

    October 9, 2008 at 10:11 pm |
  33. Randy, Ottawa, Canada

    Why is it that we can legally keep suspected terrorists in confinement for years without trial but noone even considers rounding up those responsible for the banking scandal and throwing them in jail? That is what the average (stock market) investor wants ... actual accountability.

    October 9, 2008 at 10:11 pm |
  34. Andi Murray

    I am retired at 63. I had plenty of money in my 401k.
    Now it is disappearing. The financial advisors say hang on for
    those that are in for the long haul......
    What is the long haul for me????

    October 9, 2008 at 10:11 pm |
  35. David Linzer

    Why are so many "experts" claiming that this is not as bad as the Great Depression because "they had 30% unemployment". Don't they realize that the peak in unemployment happened four years after the market crash?

    October 9, 2008 at 10:11 pm |
  36. John in Las Vegas

    This country has gotten so out of control! These Republicans are running a dirty campaign since the debates McCain has managed to waddle himself out on stage and his running mate "hockey mom" Palin is ruining her future by standing up for McCain's dirty campaign. Americans are ready for a CHANGE and Obama focuses on that

    October 9, 2008 at 10:10 pm |
  37. josh

    This economy is gradually going down no matter how much govt helps. It has gotten so bad that local barbershop and salons aren't getting any business. My friend just got laid off from her job today even though she just received a promotion tsk tsk tsk

    October 9, 2008 at 10:10 pm |
  38. Stephanie

    I'm a new blogger and really enjoy watching AC 360 each night. Keep 'em honest Anderson! Palin scares me... Go Obama!

    October 9, 2008 at 10:10 pm |
  39. Renee J

    John McCain has reduced his campaign, and ultimately his legacy, to a sad case of race bating. I thought we had come so for, but we have so far to go.

    October 9, 2008 at 10:10 pm |
  40. Peter

    I have heard countless number of these so-called "experts" giving the same advice about "staying in for the long-haul" (10 or 20 years). What about giving advice to us that might not have that much time in our lives?

    October 9, 2008 at 10:10 pm |
  41. Sheila

    There's been a lot of "advice" for those working people who still have years ahead to recoup losses. What about those of us who are already there? What is the advice for us retirees who are already withdrawing from our shrinking investments?

    October 9, 2008 at 10:10 pm |
  42. Adel Yasin

    The passionate person at John McCain's Town Hall meeting today was not natural - it was a set up by the campaign - will the media investigate this ???

    October 9, 2008 at 10:10 pm |
  43. Joan/ Orlando

    Good Evening everyone!

    Anderson thanks for identifying the culprits and allowing us to see who they are and what they have done to our country. Thanks for the good work.

    October 9, 2008 at 10:10 pm |
  44. Sean Ahearn

    Hi Anderson,

    Why are we loaning funds to AIG and not getting some equity in the company? Aren't those loans largely unsecured? Also, I've heard the latest $38 billion is going to cover the short sells by the Hedge Funds of AIG equities!? This is outrageous. Why should American tax payers bail out AIG and the Hedge funds.

    October 9, 2008 at 10:10 pm |
  45. sue

    Evening MR. Cooper.
    I'm not buying these angry people-these were planted people to mae those statements-I have no doubt. That the only black person in the crowd gets the front row-and he is the person who happens to give the final blow to attack?! Come on-it was in fact a veryba act!
    And you are all buying it hook, line & sinker!

    October 9, 2008 at 10:10 pm |
  46. Alex

    As a Christian, I am greatly concerned at the vehement hatred that many Conservatives are exhibiting at this time. It concerns me greatly that when such hateful and ‘political’ statements are said at the McCain/Palin rallies, that both candidates simply bow their heads as they smile at such comments. Where is the real virtue behind their stated virtue? How can one lead a country once they become President if they can’t lead a country during an election? Both McCain and Palin should denounce such behavior and role-model the Christian values as vigorously as they campaing to get the Christian vote!

    October 9, 2008 at 10:10 pm |
  47. art hoskins

    if one has a 401k but not investing in any stocks what happens to my money? because my job suggested that i should go into stocks(really?) to every dollar they put $0.50 on it

    October 9, 2008 at 10:10 pm |
  48. Marie, Indiana

    I lost my home earlier this year...after my mortgage co refused to work with me...i;m sick of hearing about govt bailing them out. And what's with the cute western graphic of 10 most wanted ? This isn't a joke or a game or a campaign slogan.
    Maybe its time to turn off all TVs and spins

    October 9, 2008 at 10:10 pm |
  49. Angelina Thomas

    The McCain supporters aren't angry because socialist are taking over their country, lets call it what it is, their angry because a black man could possibly be president

    October 9, 2008 at 10:10 pm |
  50. CaseyJ - Palm Springs, CA

    I can hardly wait for a bottom–grab your cash, it will be time to start buying, soon.

    October 9, 2008 at 10:10 pm |
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