Live Blog from the Anchor Desk 2/11/09
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Vogue, vogue, vogue~
Dear Anderson,
I value your commentary and thank you for keeping me up to date with the news.
Here is a summary of some of my postings from the live blog that may be helpful:
* I understand economic policies can come from different eras
* I hope the International Monetary Fund is doing all they can to help out
* It will pick up again. I can see people are sensible with spending and look to earn more income
* The government can give the banks money and it is repaid (not from the tax payers). In the $US700bn bailout package the government brought shares in the banks.
* If the interest rates are kept low enough people can borrow money and can reduce the cost of a mortgage.
* Infrastructure (e.g labour) intensive can create jobs
* Reduce taxes e.g. payroll tax can free up money to employ people
* A good way to build consumer confidence in the economy is to look at more than the share price and over time
* Hopefully countries remain open to what other countries are doing to address positive economic growth and look at economic plans day by day
* Link education and employment so that people can be prepared in the workforce
* I learnt from the Ten Most Wanted: Culprits of the Collapse list.
Hopefully money lenders will look at the people’s capacity to repay debt. I found some tips that can help people manage their personal debt:
– consolidate the debt, consider a personal loan
– repay it and stop using a credit card
– reduce the borrowing limit
– transfer onto a low-interest card or interest free card
– use a debit credit card (own money)
– ensure the rewards points outweigh the costs
– go to a licensed financial consultant
Sincerely,
Lisa L
Sydney, Australia
WOW. Michelle is soooooooooooooooooooo cool.
Can't wait to see The Shot. That video never ceases to be hilarious. Nice of Jack to write in too... poor guy does sound a bit doped. Or maybe he's just being Jack. Who really knows? 😉
Poor boy!
Wow, Coop...you are clearly not fond of Suleman. 😛
I can't blame you one bit...nice burn, by the way. 😉
Wow Wyatt is on a roll.
Unfortunately, I really don't care that OctoMom looks like Angelina but I'm sure there will still be those who doubt her statement and still believe she had cosmetic work done....
@George, if you gave 300 million Americans $1 million each, thats $300,000,000,000,000, or 300 trillion. That increases the debt by 30 times.
No plastic surgery...riiiiight! Who is she trying to kid? She had her nose done, her lips, she looks like she's had injections of something into the area around her mouth, and she could possibly had her cheeks augmented. I've lived in LA for a decade, I know plastic when I see it..
My question for Suzy is I need $38,000 dollars. i have a CD that's paving 3.75% i can borrow agains't it for 5.75% 2% above rate.
would you do this or just cash in the CD.
The issue with Banks is that they've forgotten how to be banks. They got into the habit of making deals, mergers, and playing the market. Now they don't know how to go back to being a bank. They stopped trying to please their customers years ago. Banks are suppose to make their money from interest paid on loans to customers. Instead they don't want to make loans; they want to earn money off of fees. The big banks want to be wheeler-dealers not loan agents. You don't get the big bonuses, excuse me, retention incentive, by making loans.
Thanks Suze!!!
Thanks for your advice the answer for us!!!!! that is great day!
Suze,
If I am an enterprising … those who built all the hard costs your assets, creating what did not exist? Those who can not stay in the same line?
What do I do? Control my impulses enterprising?
Follow forward?
Thanks
I can't wait to buy the Vogue magazine.
Adam: the Canadian government does a similar thing for (at least) new businesses: providing startup loans that are repaid by terms agreed upon by both parties. I'm presuming the US government may have programs like these as well... or if they do not, they should probably look into it. Food for conversation when Obama visits our Prime Minister? 🙂
Question for Suze. Read your book which recommended purchasing Long Term Care insurance.
Is this still a good idea? If so how can I be assured that the company won't renege? At almost $4,000 per year for my wife and I, it is not an insignificant expense.
Why is she allowed to keep these kids? She clearly cannot support them. Also, why is no one investigating how she was able to afford the numerous IVF treaments? From what I know, they're not cheap.
Why would the bank short sale on my home but would not negotiate with me to reduce the principal? I paid $621K & my home worths $300K and I have the income to pay if they negotiate, instead they filed forclosure and told me to liquidate the house If I wanted.
I have a Chase credit card with an $8K limit. I owe 6$ at the promotional rate of 3.99. They recently announced that I have to pay monthly a "fee" of $10–124 a year...for the life of the loan. Thus, effectively changing my interest rate not to mention my no fee card. I have been making 2 x the minimum payment routinely. My FICO is 700; my salary is 1/2 what it was 8 mo. ago, and it wasn't great then. I am 58, divorced, and really, really angry at the mentality!!!
Great show tonight Anderson and all the Gang. See you guys tomorrow night.
Have a good sleep all.
YAY Sully!
Suze/Anderson,
First off, you both are awesome great people! Suze KUDOS to you for putting the BANKERS in their place! I really hope they saw this segment and that they will finally take ownership and help out the American people – besides they're surving off of our taxes dollars for their bonuses! (barf!) God help us all!
Suzie,
The economy movng forward, stimulas package passed, now addressing housing. The underlieing thread throughout this economy is Energy. We need to produce energy in the US. NOW! When this stimulas package take hold and the "E" starts to recover we just don't want to move backwards as energy cost move back to $4.00/gal. Your thoughts? The US needs to be an energy surplus producer, and be in charge of our own energy plans.
anyone that donates to her is just as crazy as she is..
Do you really think it's smart to spend more money on falling stocks? This dollar cost averaging is ridiculous - Since when does throwing good money after bad make you rich? It doesn't.
Hope you're feeling better soon Jack, your blogs are witty and thoughtful and I always enjoy them eventhough I don't always post.
You could say the bonus thing is a "red herring" (Richard Quest made this point )in some ways, those amounts though shocking are what percentage of bank budget? but those big bonuses could be put back into bank operating budgets that would help. As Suze just noted. Good discussion about this with Tony Harris, Richard Quest, Susan Lisovicz in the 11am Newsroom.
David Gergen I'm hoping more Republicans can come on board with the Stimulus. Upon reflection, it would seem to me that a lot of those provisions are things that they would probably support.
@Jo Ann...You're so right about credit card issuers. There is going to be a major fallout with unsecured debt, etc., and the issuers have no one to blame but themselves (usurious rates on existing balances making it impossible for people to make payments and then tacking huge fees on top of this when people don't pay, as one example). This is a nasty cycle that I suspect is escalating quickly...
Has she thought about giving up any for adoption so they have a better life. The Mom however seems to be enjoying the press coverage verses taking care of the kids. Sure many of us out here would adopt to provide for those kids.
Please don’t punish the 14 children for their mother’s mistake! They need help. Is there no compassion left in America? Sad.
The only people the stimulis money will help is Wall Street and CEO's.
they are all voteing themselves more pork and whitecollar pocket stuffers!
Question for Suze: I was looking to refinance my home because of the current economic strain. My wages are being cut and after meeting with a mortgage banker(broker?), I was told that it might be better to withhold payment and save my money until the house goes into foreclosure and put that money that would go normally into my mortgage into another more affordable home. I'm unsure what to do, could you give me some advise about this?
Today our goverment finally pulled their heads out, to find a workable solution for the common american faceing poverty. As for the mayor of Las Vegas who thinks our President shouldn't have said what he did about these companies going to Las Vegas.( with our tax dollars) He looked like a drunk that needed a shave. If any company is about to ask for money..they should stay in the meeting rooms
When I hear Octomom speak, all I hear are endless cuckoos.
The work done? Is the contrast so evident to the show that side by side pics are necessary?
Randi, I have to agree with Anderson, you are being kind. 🙂
Hi Anderson,
My women's clothing boutique recently fell victim to the economy and we were forced to close. I've been 90 days past due with our loan and they want to take my business partner's condo. Currently she has it on the market and is hoping for it to be sold.
The bank said they will put an injunction on me that requires me to pay the rest (which I can't afford) if they can't get the full loan amount for the condo. I have a few thousand dollars left over from the closing and was hoping to pay off the remainder of the bills with it. Should I continue paying on my bills or hold on to it in case I need to file bankruptcy?
I said this last night...this octuplet story is a "racket" to get people to send money, baby companies to support these births and use them in advertisments!
Hi Anderson and Suze...
Suze...We have a $25,000 personal line of credit we are trying to pay down at about 6% interest, but we are wondering if it would be best to add it to our mortgage instead...which is currently $180,000 for 25 years and our monthly payment now is about $1100. We have only been able to pay about $500 per month for the LOC...what do you think? Thanks! Susan M.
so glad for Susan Collins, Olympia Snowe, and Arlen Specter even tho they are Republicans. actually, who can not like a person named Olympia Snowe. Now is the time for the best of bi-partisanship. The building is burning.
I've recently been laid off from my engineering job. I have applied for unemployment. But, now I have been informed by a co-worker who too was laid off at the same time as me that he was informed that he was denied payment because our ex employee has stated that he paid us severence pay for two week. The thing is I have my pay stubs which state the two weeks were for vacation. My question is how can you be denied payment if you were paid for your earn two weeks vacation even when the unemployment center say you can't be denied for your vacation pay. I haven't heard from the unemployment center myself but so far my payment request is still pending because of a "situation with your ex-employer. Any info would be appreciated.
TREVOR, thanks for buying 3 houses and cannot pay them or can live in all 3 that's why we are where we are today!
I would sooner adopt one of Nadya's children than give her money. Is she seriously asking the American public, who is in dire need of assistance themselves, to help her? She ranks right up there with the CEOs from our TARP recipients.
I think she had all these kids so she can collect money instead of work. She is not stable!
AMEN Suze!!!! The reason i think they dont want to lower my interest rates on my credit cards so i can afford the payment is because they can write off at the end of the year which in turn the government will cover?!
Please don't punish the eight babies for their mother's mistake! They need help.
@Judy-nyc. I know. My point is that they used the opposite strategy to deal with a recession then and it worked. All this debt is a time bomb. In a few years, just the interest on debt will be 1/3rd of the budge
How did this lady afford these medical procedures?
The octuplets' mother obviously just has some serious psychological issues, along with a painfully apparent need for attention, which everyone is giving her. My advice to the media... please stop. 🙂
Hi Anderson, Im a big fan...! If Suzy is still near by could you plz ask her if I should continue to pay into my 401 k or should I cut my loss and cash out and put the ten percent away my self?