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February 11th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/11/09

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Filed under: Live Blog • T1
soundoff (629 Responses)
  1. Lillian

    Ask Suzie, I am 64 yrs.old should I take my IRA out of stocks and put it into a fixed annuity?
    Thanks, Lillian

    February 11, 2009 at 10:45 pm |
  2. Dan McLinden

    We are able to keep our home and live within our means (for now) and so we count our blessings every day. However, our equity seems to be locked in place regardless of which direction the economy is moving . During the housing bubble, prices inflated too quickly for us to use our (slower-building but still substantial) equity responsibly. With the slowdown we can easily afford the payments on something at a higher scale, but only by getting out of our house with enough equity to make it so... not very realistic in this market.

    Meanwhile, people stuck in something beyond their means (or about to become so) wind up with no alternative but to walk away ... banks get stuck with assets that families like mine aspire to but can't quite reach ... and usable assets are left to rot and degrade the whole system. What a waste... any way to unlock our equity?

    February 11, 2009 at 10:45 pm |
  3. Linda B., Ga.

    Anderson and Suzee....Here's a good one. My sister's husband passed away, in 10/2007. She couldn't keep both of their cars, so had to do a voluntary repo on one of them. Now over a year later, she got a letter from Home Depot, telling her that her credit limit is being reduced from $1,500 to $500 and this is with paying Home Depot current. Home Depot had nothing to do with the repo.

    She's paying Home Depot off in full and cancelling her account!

    February 11, 2009 at 10:45 pm |
  4. Jane

    WORLD, this woman is sick, why do we need to give her that much airtime? And please leave those little ones alone, they are innocent. Let those who want to help do so, no one is being forced to donate.

    February 11, 2009 at 10:45 pm |
  5. Jim

    Wow! After watching Suze on AC360 I seemed to create my own stimulus package!

    February 11, 2009 at 10:45 pm |
  6. Julia

    Hey Anderson,
    I really don`t think that the mom of octuplets is not related to Angelina Jolie, stop going Us weekly on us.

    February 11, 2009 at 10:45 pm |
  7. BettyAnn, Nacogdoches,TX

    Suleman may look like Angelina in the face but give me a break. Angelina adopts children who need a home (like Suleman's kids) and has the means to give the children a good home with advantages. No comparison other than the face.

    February 11, 2009 at 10:45 pm |
  8. eric walker,fl

    Who on earth is paying for these IVF's because its breaking the bank in my household

    February 11, 2009 at 10:45 pm |
  9. Rikki, Fargo, ND

    Ashley...that was an awesome question! I'm in a bit of a student loan quandary as well! I'm not sure what I'm gonna do when they come due in a couple months.

    I think Suze Orman said it right again on the webcast....Taxpayers...these octuplets are going to be on us!

    February 11, 2009 at 10:45 pm |
  10. Vanessa, TX

    she has all this debt AND she wants to go back to school?? I'm telling you...cuckoo! Temp. food stamps? Is there such thing?

    February 11, 2009 at 10:44 pm |
  11. Maureen

    Dear Suze,
    I never hear anyone talk about using the correct credit card! My husband and I use our no fee, cash-back dividend credit card for recurring expenses like groceries, gas, utilities, insurance, commuting costs etc... and actually generate several hundred dollars in income from the credit card company.

    February 11, 2009 at 10:44 pm |
  12. Glen Up North

    Sharon: though I seem to mention this to a different person every night, $100,000 times 350 million people is equal to $35 Trillion dollars... much higher than the $700 billion for which the government is currently being criticized.

    February 11, 2009 at 10:44 pm |
  13. John - Orlando, FL

    The babies are cute but 14 children, very irresponsible. I feel for those children. As a tax payer I'm not happy.

    February 11, 2009 at 10:44 pm |
  14. Tom of Philly

    hello all, @ debbie, google GDP + depression, you will see the free fall for three years under hoover who felt the fundamentals of the economy were strong (remember mccain last summer) then an uncharacteristiic recovery occured not u shaped but like a checkmark, government induced recovery, in 1937 the republicans wanted a ballanced budget and fdr caved in and cut programs to ballance the budget i think increased taxes too. the depression worsened, the republicans say fdr worsened it because they caused it by doing nothing at the beginning.

    February 11, 2009 at 10:44 pm |
  15. Fay - California

    Who in their right mind would willingly contribute money to Nadya Suleman?!

    February 11, 2009 at 10:44 pm |
  16. Jo Ann, North Royalton, Ohio

    Suleman looks and sounds a little creepy to me. Maybe Suze can advise her on her finances.

    February 11, 2009 at 10:44 pm |
  17. Ashley - Hamlin, NY

    Angelina Jolie isn't crazy (except that whole vial o' blood thing....just a phase I am sure). Angelina Jolie can afford to have an entire baseball team as children. Angelina Jolie never put her children at risk to collect them.

    February 11, 2009 at 10:44 pm |
  18. Pam W (Tampa,FLorida)

    The nerve of that woman to beg for money. Since she collects SS for 3 of her kids, does that mean the sperm donor is dead? Is so, how does she know who the donor is?

    February 11, 2009 at 10:44 pm |
  19. Nicole Cline

    Hi Suze,

    We filed married / jointly this year (recently married) and are getting an $8600 tax refund this year. I work for Wachovia/Wells, and have a job right now, but that isn't guaranteed. My husband works and is actually getting overtime. My question is ... should we use the money to pay off his truck and clear that debt, or put it back for savings/backup funds (we have no savings to speak of at this time).

    I have a home on the market (has been for a year) that we are renting out in April for $145 less than the house payment, but we're fortunate that I've been able to make the payments for the past year while it sat empty (we moved in with family to save money).

    Any advice you can give would be great, I dont' want to make a mistake that will cause us hardship in the future.

    February 11, 2009 at 10:44 pm |
  20. Megan Dresslar - Shoreline, WA

    Wow!!!
    That is so horrible I saw in Okalohma already destory whole town, My thoughts and Prayers with OK....... It was tornado.

    February 11, 2009 at 10:44 pm |
  21. Janice McCarthy

    Re: David Gergen's comments that the cuts made by the House make the package more effective in directing funds to stimulus projects, are in direct contrast to economist, Jeffery Sachs, Columbia U who states the $ cuts were from education projects in favor of increased tax cuts reduces the stimulus effect. Mr. Sachs states that tax cuts are not as effective in this environment and often viewed as temporary and therefore more likely to be saved not spent by taxpayers. It also cuts billions from needed State projects. I've noticed rarely if ever you invite well regarded economist on your program to discuss this very important economic issue in favor of political analysts. I hope in the future you will invite economists on your show.

    February 11, 2009 at 10:44 pm |
  22. Virginia McCarthy

    Suze, in light of the Huffington Post tape that surfaced today, should we continue consulting with Morgan Stanley about investment opportunities, or should we take our business elsewhere?

    February 11, 2009 at 10:44 pm |
  23. George Chavez

    There's 300 million Americans, instead of giving billions to companies why not give each American $1 million. That will boost our economy bills will be paid,no more foreclosures,more jobs and so on....

    February 11, 2009 at 10:44 pm |
  24. Steve - southern Illinois

    I used to think it was just George Bush and his crew who are destroying America. Now it's clear to me that corporate greed is also to blame.

    February 11, 2009 at 10:43 pm |
  25. Clarence Albuquerque

    This woman can't have the ability to set up a web site... with credit card formatted?

    February 11, 2009 at 10:43 pm |
  26. vanessa from silver spring, MD

    Me too Michelle. I will be heading down to my Barnes & Nobles to grab that Vogue issue for sure.

    February 11, 2009 at 10:43 pm |
  27. Lori from IL

    While a lot of people are having credit card interest rates raised to exhorbantant amounts - mine have actually been lowered. I think I'm paying around 7-perrcent and carrying little if any balance. I'm also getting letters from a couple of companies asking me to use their cards - what does this mean?

    February 11, 2009 at 10:43 pm |
  28. ED

    This question is for Suze. Last year I had a major cancer operation
    I am now on ss disability. My 401K plan has lost about 40% of its value about 97K. I had insurance but I still owe the hospitals some money. I 've been thinking of making minimum payments and only taking enough out of the 401kK to pay my bills hoping that eventually
    it will come back. I would appreciate your opinion. By the way I am 61 years old and was layed off from my job in 07 and my cobra insurance has just expired.

    February 11, 2009 at 10:43 pm |
  29. Emma

    I really don't understand that. Banks basically force people into bankruptcy or foreclosure by making it incredibly hard for them to pay their debts. Why is no one doing anything to change this?

    February 11, 2009 at 10:43 pm |
  30. Adam

    Hi all,
    I was thinking about this for sometime now and am wondering why this has not been considered seriously. The idea is to use part of the stimulus package to bailout all these businesses that are going out of business because banks are refusing to lend them money. The government should create a new agency that will act as a bank for small and medium businesses. This will force the banks to do a better job and will save most of the jobs that are being lost right now. I like to think that in addition to thinking about creating jobs, we should also think about saving the jobs that are being lost everyday.

    February 11, 2009 at 10:43 pm |
  31. Jolene, St. Joseph, MI

    What's sad is that because of this economic mess, people who do still have jobs aren't going to get merit increases or bonuses this year. Thus, they are taking on 2nd. jobs. So, you have some people who are jobless and others who are working 2 jobs....it's crazy!

    February 11, 2009 at 10:43 pm |
  32. Alice

    I owe 12,000 on my credit card. Should I take a loan out of my 403B to pay it off? I pay interest back to myself. I am 48 yrs old. Suze please inform me. I think your great.

    February 11, 2009 at 10:42 pm |
  33. Nan

    I think we should pour the money directly into starting up factories for things people need like shoes and clothes etc. Take all the all factories and restore them. Bring the jobs back here we can do it.

    Freeze forclosures and reset the loans since in my opinion they were illegal if not unethical.

    February 11, 2009 at 10:42 pm |
  34. biba

    The woman with the octuplat is now the star she wanted to be...thks to the media partly...now may be she will meet her Bradd Pitt soon

    February 11, 2009 at 10:42 pm |
  35. Rose from NY

    Why is the government not expediting credit card reform? While the government is bailing out the banks, my Bank of America card raised my interest rate from 11% to 19.99%. I have never missed or been late on a payment. How do they get away with applying the higher rates to past balances? This is a travesty.

    February 11, 2009 at 10:42 pm |
  36. Doris

    Suze advocates getting out of debt. saving your money, have an emergency cash fund
    The President and Congress want to go into more debt, send me a few dollars, want me to spend it and have me go into more spending and more debt.
    Somethng is wrong with this picture!

    February 11, 2009 at 10:42 pm |
  37. Isabel Abreu, Brazil

    Hi Suze,

    What a person should do in times of crisis, to be a difference?

    What I mean? If someone is losing, someone is winning (this is consistent?)

    What the person must do to be the winner and gain the crisis?

    Thanks

    February 11, 2009 at 10:42 pm |
  38. Debbie

    My husband lost his job and I am in a mortgage scam. We have been paying on this mortgage for 15 years and found out that none of the payments went on my principal. Would it be wise to use my husbands 401k to pay off the house. He is 56 years old and his job is moving to Mexico. I just wonder how much penalty we would have to pay.

    February 11, 2009 at 10:42 pm |
  39. Michelle

    I will be making the trip to Barnes & Noble for
    the Vogue featuring Michelle Obama. She is
    beautiful.

    February 11, 2009 at 10:41 pm |
  40. Isabel Abreu, Brazil

    Suze,
    What a person should do in times of crisis, to be a difference?
    What I mean? If someone is losing, someone is winning (this is consistent?)
    What the person must do to be the winner and gain the crisis?
    Thanks

    February 11, 2009 at 10:41 pm |
  41. CaseyJ - Palm Springs, CA

    I disagree with Suze regarding selling stocks and getting-out. Historically, everything (all investments) come back around, if you give it enough time. Think of where we were in the stock market 2000/2001 vs. 2006, for example. In the early 90s, the value of our homes tanked and many simply just waited for the market to come back around. It will again. That's history.

    February 11, 2009 at 10:41 pm |
  42. Bob

    Hello Suzie and Anderson,
    Im affraid to even know what my 401k looks like .......should I continue to pay into it or stop paying and put the 10 percent a check away my self....and cash out what little might be left?

    February 11, 2009 at 10:41 pm |
  43. Alana

    I am 25 years old with a good job and quite a bit of savings. Is this a good time for me to invest in the stock market? How else do you suggest I save for the future?

    February 11, 2009 at 10:41 pm |
  44. coco north carolina

    I think the banks need to have a quartely review with all the funds that the government give them They are not helping the homeowner, the cust-service reps are very rude when you call for help. Please get on this banks they hve the taxpayer money but don't want to work an agreement to help homeowner. Thats why they are in trouble, greed set in with the CEO.

    February 11, 2009 at 10:41 pm |
  45. Gabriel- New York

    im sorry folks. I know this is not a popular statement but everyone who has lost all this money in the market and is complaining should not have been invested in stocks in the first place. I'm young and still know that the closer you get to retirement age the LESS invested you should be in stocks. I'm just sayin...

    February 11, 2009 at 10:41 pm |
  46. Francisco

    Who can we talk to resolve our Immediate Cash flow?

    Called Bank of America Today to explore negotiating our Credit Card Rates (22.99%!) since we were late a couple of times and we went over credit limit given our cash flow due to project budget cut impact our ability to have the money to pay on time. This is what they told me: 1. you will not qualify for an interest reduction AND Talk to the Financial Hardship Program:

    The hardship program told us, they will close the Credit Card accounts, and put us on a payment plan to pay the remaining balance and this will be reported to the Credit bureau. We asked to reduce the huge interest rate that is eating our cash limited flow, and this point they said you need to default on your payment to qualify for this program and we will close the account. This will shutdown our ability to get credit in the Future and perpetuate a vicious cycle where if we a credit card anyone will want to charge again a High Interest Rate.

    Can you help direct us to a program that can save our business maintain our Credit, pay for this balance on a more competitive interest rate and allow us to continue to explore new business revenue options?

    BOA and other Banks Restricted Credit and interest programs are killing small business due to unforeseen economic and project cuts.

    Please advise & Advise!

    Thanks
    Francisco

    February 11, 2009 at 10:41 pm |
  47. Esma

    You know what? Let's give some of that peanut butter to the bank CEOs and Wall Street dinguses too! I'm sure there's plenty to go around!

    February 11, 2009 at 10:41 pm |
  48. John - Orlando, FL

    Here is the new excuse they have for declining me an auto loan even though I am on time with all my bills and credit good. "Worsening economic conditions in your area in addition to the year in which you took out your mortgage." Always an excuse not to loan out money.

    February 11, 2009 at 10:41 pm |
  49. Steve - southern Illinois

    You say to send questions to ac360.com. That is not an e-mail address.

    February 11, 2009 at 10:41 pm |
  50. Wally

    I just started to look to the future with out the help of my employer, I was recently contacted by a friend who is a "Primeamerica" consultant, what do you think about these financial planning companies are they worth it or not?

    February 11, 2009 at 10:41 pm |
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