Live Blog from the Anchor Desk 1/23/09
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Want to share your thoughts on tonight's headlines? You're in the right location. Just scroll down and post your comments. This is where you can "chat" with Anderson and Erica during the program.
Financial expert Suze Orman will be joining Anderson and Erica tonight to answer your questions. Want to know what else we're covering tonight? Read EVENING BUZZ
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To have a bailout without condition is asking for trouble. If the reason these banks & financial institutions are going under is greed and lack of oversight, why bail them out without stipulations? If you have a child who misbehaves, do you reward him for that behavior? I would think not. This was not a good idea and I don't understand why they were given money without conditions. If you borrow money from a bank, there are conditions and penalties. Why the double standard?
I have a investment account with Merrill Lynch, do you think it is time to move same to another broker and do have any suggestions
What does Suzie think about investing in Banks now? How about "gambling" a small %-age of cash on the Royal Bank of Scotland for .18/share?
Yes, 35K commode
Susie, I lost my job 3 weeks ago, I called the bank that holds the mortage on my home. Telling them I will not be able to pay my mortage on unemploment & would like to see what we could do to lower my payment, so I could make my mortage payment. I was told they could not help me unless my mortage was 3 months behind on my home. How is this money (stimulas package) we gave to all the banks, to bail them out. Helping any of us Americans?????
Its NOT!!!
I was talking to my uncle tonight and he said they should take all these criminals in the financial sector and throw the whole lot of them in "Gitmo" without any legal representation...sounds good to me!
Nope Saera you heard right!!! 35000 for a TOILET!!! lets call it what it is...a 100.00 item at home depot!!!
Suze,
Following news from stem cell research company, Geron, for its research reaching human trials, do you feel that with the current administration that this could be a break out year for the stem cell business?
Isn't Sarah Palin's 15 min of fame over? Of course a book!! What else is there for her to do....run a STATE?! Is there not alot to do in Alaska that she has time to write a book? What it is gonna be about...Tina Fey making fun of her?
Tough times were made by Bush and his policies that are cripling the economy and gotton us in the mess we are in now . Obama got his hands full i hope he can get things in order
I have a question for Suze. I just got a 5% pay raise should I immediately increase my money going into my 401k or just take the money and use it. I am puting 7% in now and I am pretty comfortable in my financial position and job security.
Mr. Gergen,
President Obama was very impressive for someone many feared wouldn't be ready on the day 1 as President of the free world. I am proud of his work, thus far.
Mr. Gergen, So happy to see you on the boards. I highly respect your commentary. I agree. Our president is off to great start. It has been non stop for him since November. However he is only one person. He needs the support of the public and all sections of our governing bodies to assist in this crisis which is crippling the world. We did not get here overnight. Therefore, I do not think a quick fix solution will develop over night as well. It will take a series of events to bring this country and the world back on econmic track.
Have a great weekend
There should be no more bail outs for the financial institutions.
What a waste of taxpayers money.
I was cuddled on the couch with my puppy but that story on Bank of America and Merril Lynch just made me get up and blog about it.
Greed and wastefulness is all those large institutions are about.
Question for Ms. Orman:
Is this the moment to move to Yucatan, Mexico??
We can't buy land along the coast in Mexico, but there are plenty of fine colonial mansions "dirt cheap" in Colonial Merida... For an affordable life, this place surely beats Contempo/Lockgrid Nueva York!!!
I am disappointed in the tax cuts added to the stimulus package... tax cuts aren't worth diddly if you aren't working...
Hi Anderson, Erica, everyone blogging. I'm sure after all the inauguration coverage Anderson, you and everyone at AC360 and CNN are ready to let loose a bit on the weekend. Thanks again for bringing us to this event on tv, and through the blogs.
Good evening Anderson, Erica and Fellow Bloggers -
Anderson - hope you get your "long winter's nap" this weekend. It's going to be bitterly cold in the Chicagoland area this weekend - so a "sietsa" is part of my weekend plan as well.
David Gergen - I just wrote a long response to your blog. I believe that until congress and we as individuals develope a "we/us" mentality we are only setting up President Obama to fail. It's kind of like "cutting off your nose to spite your face." If he does fail, don't we all fail - who really wins?
Oh, I was hoping we could make it through the week without Sarah Palin.
And for those of you follow IL politics – Gov. Blago put on quite a show today. The Senate trial begins on Monday - so things are heating up here in IL.
It's not very practical to order GITMO closed without a plan to deal with the terrorists there. 60 who have been released are reported to have been involved in other terrorist acts; and one heads Al Queda in Yemen now. What's Obama going to do, make them NYC cab drivers?
LOL Karen, well said!
what a week...obama, clinton, kennedy....is it the weekend yet???
This question for Suzie: I have a 15 yr mortgage at 5.625 which I can't afford. I refinanced at 30 yr at 5.125 which lowered my payment by $300....I still might have to sell...Your thoughts?
I'm surprised at John Thain (Merrill Lynch ex CEO). It seemed he did a formidable job with the NYSE. Then again, how could he have failed considering how heated-up the market was in its' recovery until late 2007?
I have pulled my personal and business $ out of major banks and re-focussed my money into local and regional banks in my area, primarily because I'm so p'ed-off at how unethical large financial institutions are–I'm sick of this garbage. What's happening now is exactly what I was afraid of when we started this bailout garbage.
Secty Paulson certainly took care of his Wall Street buddies, didn't he?
Suze – I have $5000 to invest. I won't need to get to the money any time soon. Where would you suggest I put it? I'm 42, single, and own my own home.
Erica Hill rocks the house. We are psyched for change we can believe in!!
GAH! Stop talking about Sarah Palin! Seriously, that woman needs to go away for a very long time. :0 (angry face)
I wish more people understood the importance of infrastructure instead of just saying we should use all the money for tax breaks. Of course I'm a hardcore Democrat and work in a library so I have understandable bias about how some government projects are -useful- and actually create jobs. (My library currently has a hiring and pay freeze.)
How much will it take to get Sarah to shut up and go back to work in Alaska?
Hi Suze,
I'm 30, have 22,000 in credit card debt and 92,000 in educational debt. I have worked all my credit card debts down to an average of 4.75 % interest and am making payments amounting to $600 a month. My educational debt comes out of a prolonged deferment/forebearance in 60 days and can no longer be deferred. The educational payments will nearly match the $600 credit payments. I'm out of options and think I'll have to default on all the unsecured credit debt to pay the educational. What should I do?
Peter
Hello Anderson, Erica, bloggers and anyone else.
I don't understand why everyone is so surprised that giving people billions of $$'s with no strings attached that they will act responsibly. If they were responsible they wouldn't need bail out money in the first place.
Please ask Suze about Inland American (REIT) as an IRA investment for a retiree. It is currently paying a 6.2% dividend. It also represents about 1/3 of my investments.
Anderson, how is Erica going to do her webcast like you just announced when she isn't even at her desk? She is late before too.
another question for suze
I am on social security disability, I want to put a little away like I had been doing with my employer's 401k, is there a better place for my money?
thanks again
I know this is tough times but the way President Obama ran his campaign I trust him to do what is best for the country, I realize it's not going to be easy.
Hey AC, et al, especially Suze:
While watching and crying during the inauguration – after nearly a year of trying to sell our fully owned home in California – we got a call that 5 offers came in that day. Today, we are in escrow with a cash offer $25K over the asking price and two backup cash offers behind that.
Yes, we did.
Maybe hope does make a difference; and maybe people think the real estate market has hit the bottom (or is close)... I just know that I am happy that Obama won and I am willing to give him whatever time he needs to do whatever he needs to do to fix things in America.
This is a question/comment for Suze Orman. My credit union offers a share certificate loan program which charges you 3% to pledge your shares (I have 35K) available and want to pay my credit card debt (the finance charges are 8.99%-27.99% ) and I thought I could pay off the debt faster and have another type of debt on my credit report, is this a good idea? My credit card debt is at 35K so this would be a big break for me. This is the year of our debt smackdown and increasing our FICO. A few of our cards are maxed and I want all of our debt below 30% of the credit lines to keep our FICOs high. Our FICOs are all over 720. We want to refinance later this year and want to make sure our finances are in order.
Question for Suzie Orman:
I own quite a bit of GE stock obtained as an employee through company contributions into savings fund. The stock has dropped dramatically in value to around $12 at end of day today. Do I bite the bullet and sell it or hang in there.
Thank you.
Love that idea Joe D...you need to head to Washington
Good evening Anderson, Erica and all Bloggers. Yes Anderson it has been a long week and I am glad it is ending too.
Why does Ed Henry, Sr White House Correspondent, keep referring to President Obama as Mr. Obama. President Obama has earned the title and deserves the respect of being called "president" just like all the others before him. someone should encourage him to make the appropriate change.
One other comment and I'll leave the field to others. I want transparency, like everyone else, but that doesn't mean I need a 24 "big brother" cam. I mean, I like and trust someone who looks me in the eye and has communication with me, but it doesn't mean I want to see them walking around buck nekkid.
did i just hear someone say $35000 commode??
please tell me i'm hallucinating...
I don't know, David. The stock market continues to tank, layoffs are large and people are nervous. I also don't understand the bold gitmo moves and hiding behind closed doors for the abortion issue. Seems kind of sneaky. i thought the " I won" comment was rather glib. On the other hand, I truely hope his family is settling in and happy. I think it may be a rough couple of months/years.
Anderson,
I'm using Merrill Lynch for retirement planning, do you think I should ditch them for someone else?
Anderson, it's been the longest, short week ever. I'm ready for the weekend and I was practically giddy when I left work today.
Mr. Gergen, while I'm pretty impressed with Pres. Obama's few days in office and overjoyed that he repealed the 'Mexico City' thing on reproductive rights, I think the economy is in really horrible shape. I know one person who lost his job and another friend's is threatened.
However, I'm the Treasurer for a small city and I'm moving our money from Chase to a more stable, local bank.
Hi Suze,
I'm 58, my house is paid for, no debt, plus I have a rental property.
I'm just selling another property and shortly will have 800k to put somewhere safe? The financial advisers are coming at me like crazy.
What do you suggest? I have no retirement fund but I do have about 1k in the bank.
Thanks,
Diana
I will retire in 2009 w/ 33 years teaching in Georgia. Our system is offering retirement to those of us who are close w/ a rehire at 49%. This would work with my subject. My annuity has taken a hit this year. Should I retire, draw my retirement plus the 49% salary of $61,000 or stay until next year and continue contributing to my annuity. I'm married w/ 1 child to graduate in August and 1 May of 2009 w/ about 4 years left on our mortgage.
David, I wouldn't call week 1 flawless. Setting rules for lobbyists, and then immediately violating them; promises of openess, followed by hidden bill signings and second swearing in; promises of bipartisanship but then telling Republicans they won't get what they want because he won. Lots of contradictions to me.
I say give the money to the people let them bail themselves out...forget giving it to the banks...seems they like to deorate with it...
I PROMISE I WONT DO THAT!!!
I recently invested my rolled over 401k from a previous emplyer with a large brokerage firms mutual fund.......and it tanked, losing nearly 10% of its original value in the final quarter of 2007! At that rate, it'll be half gone in a year! I cant take that, and I consider myself a pretty thicj skinned investor. I feel trapped, since its an IRA I cant withdraw...I am not quite 50...what do I do beside wring my hands watching my lifes savings evaporate at Merrill Lynch?