On the Radar: Banking Bailout II
Cate Vojdik
AC360° Writer
Sequels more often than not disappoint; so do remakes for that matter. Case in point: The Poseidon Adventure. Enough said.
When sequels and remakes are billed as being new and improved, well, that's usually a clue to high-tail it in the other direction. We're certainly hoping that's not the case with TARP II, which premieres Tuesday.
Treasury Secretary Timothy Geithner has promised radical changes in the Troubled Asset Relief Fund, created last fall to shore up the deteriorating finances of the nation's banks. At stake is the $350-billion second installment of the $700 billion bailout fund. The lack of transparency, accountability, and frankly, effectiveness, of the first bailout round elicited stinging criticism.
Tuesday, Geithner will unveil his new and revised financial bailout plan. A big difference this time around: the plan aims to add private funding as a new tool to address the toxic debt clogging banks' balance sheets. Joe Johns will take a close look at the toxic assets angle and explain how the Bailout 2.0 will work.
Also tomorrow, President Obama continues his grassroots push for his stimulus and recovery plan. He'll host a town meeting in Ft. Myers, Florida, where unemployment has spiked to more than 10 percent. While the president is selling the soap, the Senate will be voting on its $838-billion version of the stimulus plan. Ed Henry and Jessica Yellin will have all the details.
See you tomorrow at 10 p.m. ET!
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Weeknights, 10 ETPresident Obama takes reporters' questions
Reporters ask President Obama questions on domestic and foreign policy during his first prime-time news conference.
Live Blog from the Anchor Desk 2/9/09
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Obama: Tax cuts won't work
President Obama explains why the economic stimulus bill will help the economy.
Evening Buzz: Selling the Stimulus
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Maureen Miller
AC360° Writer
Just moments ago, Pres. Barack Obama wrapped up his first prime-time presidential news conference. The most popular topic was the economy. Mr. Obama is trying to sell the stimulus plan. He says "the time to act is now" and he warns "failure to act will only deepen crisis."
We'll be playing the highlights from the Q-and-A session at the White House.
How do you think Pres. Obama did tonight? Do you agree with his plan to fix the economy? Scroll down to share your thoughts.
The final Senate vote on the stimulus plan is expected tomorrow. It looks as if the Democrats have enough support from the GOP to get it approved. But it won't be a done deal. Then both the Senate and House will have to work out the differences in each of their bills and come up with one plan.
Tonight we'll break down what's in each plan. See what's at stake for you and your family.
We're also following some other headlines tonight, including the admission from baseball slugger Alex Rodriguez that he used performance enhancing drugs from 2001 to 2003, when he played for the Texas Rangers. All those denials before were lies. Today Rodriguez apologized for his actions in an interview with ESPN. How do you think the confession will impact his baseball legacy?
Join us for all this and more at 10pm ET.
See you then!
Live Blog Special: President Obama's News Conference
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/01/02/liveblogfinal.copy.jpg] Want to share your thoughts on the President Obama's first official news conference? Talk to the AC360° team during the speech and let us know what you think. Just scroll down and post your comments. And don't forget to come back at 10 p.m. ET for our full coverage and analysis. Keep in mind, you have a better chance of having your comment get past our moderators if you follow our rules. Here are some of them: 1) Keep it short (we don't have time to read a "book") 2) Don't write in ALL CAPS (there's no need to yell) 3) Use your real name (first name only is fine) 4) No links 5) Watch your language (keep it G-rated; PG at worst - and that includes $#&*) And take a look at our live web camera from the 360° studio at 10p.m. ET. Watch the WEBCAM
Beat 360° 2/9/09
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US President Barack Obama speaks during a town hall meeting in Elkhart, Indiania, February 9, 2009.
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Is this an economic stimulus or Viagra for special interests?
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Robert Zimmerman
AC360° Contributor and CNN Political Analyst
The question is whether we trust our government to put in place an economic program that truly provides a plan for growth and the beginning of a recovery or will just result in a short term benefit for those special interests that have controlled and paralyzed the government in the past.
Contrary to the warning label on Viagra, if this stimulus lasts less than four hours then you should call the doctor and most certainly your elected officials demanding their retirement.
Warmer weather, colder numbers
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Steve Brusk
Senior National Editor
When Air Force One touches down in Fort Myers, Florida Tuesday morning, the weather will be different from that of northern Indiana. Little else will be.
President Obama won’t see anyone in earmuffs at the airport, or remnants of dirty snow along the motorcade route to the town hall meeting. But like their rust belt colleagues in Elkhart, people in Lee County are among the hardest hit by the economic downturn.
Fort Myers restaurant manager Debbie Kendall sees it every day. “People are very nervous,” she said of her customers, “maybe even scared. Everything is so up in the air.”
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