February 4th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/4/09

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Filed under: Live Blog • T1
soundoff (658 Responses)
  1. rodney s harmon

    I don't think any middle working class family or person wants to have their jobs taken while ceo's make millions..That's just crazy ..

    February 4, 2009 at 10:21 pm |
  2. Jolene, St. Joseph, MI

    I love how Joe the Plumber is acting like a reporter while others are reporting on him....unbelieveable...only in America!

    February 4, 2009 at 10:21 pm |
  3. Michelle D. Fonthill,Ont

    The ceo's i agree that they have no buisness living extravagant lifestyles .The limo's jets'the wall street execs should put in jail for fraud.

    February 4, 2009 at 10:20 pm |
  4. ray

    if the stimulus is so important, why not break it up and simplify it???

    dont give me this nonsense that the whole is greater than the sum of its parts!


    February 4, 2009 at 10:20 pm |
  5. Jay Norris

    I am in the employment counseling business, and 7 years of experience has told me that there are many very talented and competent people that would welcome the opportunity to work for 500K a year. Let the prima donnas walk.

    February 4, 2009 at 10:20 pm |
  6. Larry

    We knew Bank of America would be exempt; how else could they keep the piggybank open for Barney Frank, et al in Congress.

    February 4, 2009 at 10:20 pm |
  7. lynn

    I would like to see the tax history of both these "top talent" people as well as corporations seeking baliouts. Maybe they should be "vetted".

    The mess in the first half of TARP had nothing to do with Pres. Obama but the Bush administration...that is who spent it so wrecklessly.

    February 4, 2009 at 10:20 pm |
  8. Ralph Bateman

    Great to hear more and more sensible politicians buy into the 4% (or less) Government refinance options for (primary) homeowners.

    As most Americans have less than good credit due to high debt to income ratio's, while never having missed a payment will regrettably negate this great option to get America back on the road to recovery.

    Government provided refinancing... Blink!!
    Setting credit score limits on refinancing qualification... Not Blink.

    February 4, 2009 at 10:20 pm |
  9. Lorie Ann, Buellton, California

    Anderson, you're right. It all sounds like politics as usual. A huge debt that will last for generations, should be an American problem. Neither side is really willing to meet in the middle.

    February 4, 2009 at 10:20 pm |
  10. Vanessa-WV

    I forgot to say Hello to everyone, first time blogger.....but not first time watcher...I call Anderson my boyfriend!! And when my kids see him on tv they tell me "Hey Mom, your hottie is on"

    February 4, 2009 at 10:20 pm |
  11. Sharon S

    Joe the Plumber can go jump off a cliff for all I care I'm tired of hearing about this idiot his 5 seconds of fame should have been over with a long time ago!

    Someone tell him to pay his back child suport and taxes and shut up!

    February 4, 2009 at 10:20 pm |
  12. Carolyn

    Seriously, were these CEOs ever worth these astronomical amounts of compensation? If they were good they wouldn't have gotten their companies and the country in the mess we're in.

    February 4, 2009 at 10:20 pm |
  13. Karl McLennon

    Cap on exec.compensation ?
    Yes,Yes and Yes !!!

    February 4, 2009 at 10:20 pm |
  14. Liz Robinson

    I think it's a good idea to limit salaries, why continue to reward those who got us into this trouble. Just think how much they would expect if their companies were successful. I think it should be criminal for those who companies are going under and the CEOs did nothing to stop it, after all this is what they are being paid to do is watch the business. What were they doing?

    February 4, 2009 at 10:20 pm |
  15. Ashley - Hamlin, NY

    .........Coop.......please...no more joe the plumber. He gives me the heebie-jeebies after the war correspondent thing. And he and the word 'correspondent' or any other serious word shouldn't be used in the same sentence.

    February 4, 2009 at 10:19 pm |
  16. Frank, Poughkeepsie, New York

    On the tpic of limiting CEO pay. While this is politically popular, the sad reality is that it will just accelerate the rate at which these companies lay off staff, because these guys will do ANYTHING to get their obscene salaries back as quickly as possible. What the government REALLY should be saying, to all American companies is "we are on the edge of the abyss. If you are making huge profits and you continue to lay off workers, then the US government will no longer do business with you. On the other hand, if you support your country by hiring additonal staff, then you will be a preferred supplier".

    February 4, 2009 at 10:19 pm |
  17. Michelle

    No Anderson we should not care about Joe the plumber.
    Enough already.

    February 4, 2009 at 10:19 pm |
  18. Mike, Syracuse NY

    @David G. I agree. There seems to be more and more people who oppose the bill. A Gallup poll yesterday said only 38% favored the current bill. Great point too on the reachout not leading to compromise too. How is listening to Republican suggestions then ignoring them lead to a bipartisan situation?

    February 4, 2009 at 10:19 pm |
  19. Rikki, Fargo, ND

    You know, I understand the differences between the republicans and the democrats and their differences on policies and I tend to call myself a democrat...but some partisan politics really frustrate me...we do need to compromise on something to get this economy going and if this stimulus is going get that started then we need to get it passed and put partisan politics aside for a bit.

    Joe the Plumber? Really? Do we have to talk about him?

    February 4, 2009 at 10:19 pm |
  20. Naissa, Deep in the HEART of Texas

    Joe the Plumber AGAIN?! Ugh. This guy is worse than Palin!

    February 4, 2009 at 10:19 pm |
  21. Hillary B.

    Joe the Plumber, the gift that just won't stop giving..........

    February 4, 2009 at 10:19 pm |
  22. Jessica

    @David Gergen- Yes, I think the President is doing his job wonderfully. The limiting of salaries is exactly what we needed. The only excuse I could come up with on behalf of the CEO's for wasting tax money is that they obviously don't know what's going on in the world around them. The only thing that I am not sure about is if the bailouts will have as much drastic change as the options in the package, such as house weathering. It seems like Obama's following Roosevelt in his plan to produce more jobs...it seems like a good idea, we'll just have to see if he implements it in the correct way to help the economy.

    February 4, 2009 at 10:19 pm |
  23. John

    My question is this. There is a minimum wage (that is barely sustenance level), why is there not a maximum wage?

    I can't imagine anyone doing any job regardless of talent that is worth more than, say, $10 million a year.

    February 4, 2009 at 10:19 pm |
  24. gayle mccauley Malden,Mass.

    Greetings to All! I do think that the salary cap for wall street execs is a great idea! As A.V. said maybe this step would Attract those who have earned a lot of money in the past and now they are ready t0 roll up their sleeves to help. Sincerity would be needed to fill those positions but would later be rewarded.Sounds like a great idea to weed out the greed!

    February 4, 2009 at 10:19 pm |
  25. Brandon

    I think the cap on of 500,000 is a great idea. I dont know why it hasen't come up before now. It may not be the reason we are having trouble, but it one of many reasons why we are having finacial problems.

    February 4, 2009 at 10:19 pm |
  26. Silvia

    In the real world, people like me are going about their everyday lives trying to survive. This conceptual money, tug-of-war is a historically reminder that the poor are still forgotten.

    February 4, 2009 at 10:19 pm |
  27. Manuel

    Regarding the CAP on salaries: Everyone that talks about it claims it "might" be an issue retaining "talent". Seriously, if these corporate heads were talented, why have their businesses failed? If I failed in my position, I would be terminated, not offered $500,000.00.

    February 4, 2009 at 10:19 pm |
  28. Renee

    Sorry, Gergen, being a leader is not a popularity contest. Being a leader is being prepared and experienced from DAY ONE. America does not need a popularity contest right now. America's economy is in a shamble.

    February 4, 2009 at 10:19 pm |
  29. Sharon S

    I do agree we need to pass a bill but I also disagree that it needs to just be passed without restrictions and compromises!

    February 4, 2009 at 10:19 pm |
  30. Duke

    Anderson, people are complaining that this is just another way for the government to control private sectors, if they want to avoid that, all they have to do is not ask for a bailout.

    February 4, 2009 at 10:18 pm |
  31. David

    I am a former EVP from BAC. I promise you there are a cadre of bankers that can run any bank in this country for $500,000; and do it better than Lewis and company!!

    February 4, 2009 at 10:18 pm |
  32. Audrey Brodt

    Why are we worried that these highly paid executives will leave if their pay is limited? Why would we want to retain the same folks that headed up these enormous failures? The real question is how come they haven't been fired!

    February 4, 2009 at 10:18 pm |
  33. Bea

    I am really encouraged by the executive compensation regulations. It is pretty darn brilliant I think. My faith that smart people can come up with great stuff is renewed. I think Gregory Craig probably played a huge role.

    February 4, 2009 at 10:18 pm |
  34. Vimmi

    on bailout bill – probably give companies part of salaries for the people they retain, something like if you have 10 employees pay the company 10% of every employees salary, cap it and over a period of time..motivates companies to retain people

    February 4, 2009 at 10:18 pm |
  35. Rejean duBois

    Anderson, you just mentioned that those talented people may leave their jobs with the new $500,000 cap salary.

    My comment is if those people were so talented how did they get into the situation they are in now. Not only is the $500,000 plenty for their performance, some of them if not all should be fired.

    Any body can put in time on a job but the difference in performance is the success of a job well done.

    February 4, 2009 at 10:18 pm |
  36. ericacnn

    hello, everyone.

    i'm trying to get jack gray to join us tonight on the webcast – keep your fingers crossed!

    February 4, 2009 at 10:18 pm |
  37. Blane

    Why do we need to retain top CEO,S that ran theese banks and companies into the ground when the average village idiot could do the same thing for much less ?

    February 4, 2009 at 10:18 pm |
  38. Will Shaughnessy

    Bravo for Obama ! Wow I wish I made 20 million plus.. but wait they want to borrow the American taxpayers dollars and expect not to pay it back.. Hello JP Morgan Chase , and all the other Fat Cats,,can I not pay my mortgage back/? my car loan?? Oh right you already told some of us borrowers, nope can lend you money to help you out, maybe we'll foreclose your home.. " Hey we do have a tent sale"

    February 4, 2009 at 10:18 pm |
  39. Rose Ann Colorado

    I love what our president has been doing in his WHOPPING 12 days of office. I love the cap on Ceo's salaries. How quickly we forget that we just threw money at Wallstreet and the banks. Why is everyone so shocked that they spent this money on themselves? Who didn't know that? I knew it. I think all us tax payers should be allowed to sue these Wallstreet ceo's that stoled our tax payers money. They cried they would go under with out it. They lied and they stoled. Lets sue them and get it back. It is fraud.

    February 4, 2009 at 10:18 pm |
  40. Steve

    This just shows how out of touch our goverment is as far as what is considered a decent wage. Some how they think main street can servive on $7.75 hour for hard labor jobs, but CEO can,t servive on $500000.00 a year or what they have in savings.
    This shows what a joke this stimulis package will be.

    February 4, 2009 at 10:18 pm |
  41. julliet

    @ Ed Rollins the stimulus package has nothing to do with the banks. Banks don't need stimulating.

    February 4, 2009 at 10:18 pm |
  42. Eric from Omaha

    Frank Bertucci's idea is a good one and would help those in poverty and help those neighborhoods.

    February 4, 2009 at 10:18 pm |
  43. ray

    this stimulus is wrong!
    it is not right!
    this rushing is wrong!

    it is like the rush to war

    February 4, 2009 at 10:18 pm |
  44. Lisa

    The sad irony is that the very small percentage of Wall Street Bankers responsible for irresponsible trading practices and strageies have mostly been fired......and walked away with severance packages worth far more than what most of the remaining hard working bankers will earn going forward.

    Lisa- New York, NY

    February 4, 2009 at 10:18 pm |
  45. Dianne

    You never post me but I'm sick of the CEO's and Congress. Why not let EVERYONE refinance their homes at a 4%, no closing costs, reduced value and 30 year fixed thru FHA? WHY NOT? Because it might help everyone?

    February 4, 2009 at 10:18 pm |
  46. greg

    Hey, cutting exec pay to $500K is appropriate but why stop there? I am disturbed with all the pro sports guys (some who can't even spell their name in writing) making a gizillion bucks because they can catch a ball! Sorry but I work hard for every dollar and do resent the money thrown at them. Guess that's why the only organized sports event I watched this past year was the SuperBowl, and only because our AZ Cardinals were there and Kurt Warner seems to be intellegent and thoughtful in his actions.
    Just my thoughts from the cheap seats. Well, actually free since I don't give them any of my money....

    February 4, 2009 at 10:18 pm |
  47. Cindy

    Finally...some sense has arrived at the White House! These CEO's have compensated themselves at our expense. Good people will work hard and want to prove themselves worthy. Yes, they are out there folks and will most likely outperform any current CEO that you had listed up on your monitor.

    February 4, 2009 at 10:18 pm |
  48. John Bergquist

    A stimulus package of some sort needs to pass. It speaks highly of Pres. Obama to be working with both parties to get this thing done

    February 4, 2009 at 10:18 pm |
  49. Warren

    The limit on pay is a very good idea, but there is already a lot of discussion of how these companies will get around these rules, and it sounds like there may be holes iin these rules you can drive trucks through. Further, the compensation program should be for ALL employees of those companies....there are not sales people or traders that are "worth" more than $500k a year. If we've learned anything through these bank failures, this should be obvious. If these folks want to walk and go somewhere else...let them go.

    February 4, 2009 at 10:18 pm |
  50. Megan Dresslar - Shoreline, WA

    Hey Pati!!
    I agree with your comment..... I hope we will find out this week if they pass this bill.

    February 4, 2009 at 10:18 pm |
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