Live Blog from the Anchor Desk 2/11/09
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Hi Suze,
Are there talks of banks working to reduce the principal on a home loan to more realistic values and keep people in their homes? If so, which banks are cooperating and what bills are being passed?
Thanks
Nicole
Hey Anderson... they want the money put into the economy? Why didn't they give each legal middle & lower class American citizen $30 thousand or so?? Then you'd see mortgage pmts paid, cars, homes, home appliances, etc. purchased !! I worked 15 years in banking, the pockets of the ceo's are the last place the previous bailout should have ended up !!
Tina Richmond-Rupert West Virginia
as a high school senior looking forward to college, what are my options for thing like paying for college, and surviving in such a challenging economic environment.
Having the CEO of that Peanut factory in front of Congress today was a waste of taxpayer's money. People have died over this salmonella mess...he didn't look very remorseful....
Suze – do we know what the deal is with the new Credit? Is it still $7500 for firsttime buyers and $150k limit for a couple? Do we have anywhere to read what has been proposed now?
My husband and I are both Real Estate Brokers/Investors in Texas; self employed for over thirty years; have basically good credit; good investments with good equity; short on liquidity at this time; we have not found a bank to this day to help out; it is getting to be one tough road; unless lending is unleashed by all these greedy Banks; we are all going down.
hi, suzi i would like to invest on a house but i dont have enough credit to buy house please tell me where i can invest. i dont need 20 years plan. thank you.
They should have offered that guy some of the peanut butter from his company.
Get well wishes to Jack Gray who has the bird flu~
Yes!!!! I agree BettyAnn!!!
Jack,
Get Well soon!!!!! we missed you!!!
Anderson-
For the turn around time from an idea to a bill to sign President Obama has done very well:)
Love Mr. Henry's tie, yours is swell too.
Miranda
If no one trusts that these banks will use the money to free up the credit markets, maybe the congress should open kiosks and lend out the money themselves, they can put up the names of everyone they lend money to online, and good luck getting it back
What other companies are putting the safety of the American people last just to save their businesses?
Why does the Government have to get involved n this way. I believe the shareholders should be in a position to correct this. Salary and bonuses
should be a performance issue. Where are you shareholders?
The ceo grilling was entertaining but I need action and until these guys open their books completely, WE the people need to act. And FORCEFULLY. This is a transfer of wealth and a consolidation of power. But I am one of the ones at the bottom who will not go out silently.
Suzie, so cute, so Savvy.
I think the peanut butter CEO should have to eat his mistake. All of it.
Wells Fargo lied today, they have not helped me with my mtg. going up 500.00 in six months. No calls or letters to modify only letters you owe us and we will foreclose. They are in the business to foreclose and sell your house. No wonder they are saying "we took the bailout money but we did not need it" because you are the biggest crooks on the block!!!!
Ignacio, one glaring error in your calculations I'd like to point out: 6,750 Million times 1 Million dollars is not equal 6,750 Million Dollars. It equals 6,750 _Trillion_ Dollars... nearly $4 Quadrillion, to be exact. That's quite a lot of money...
Good evening, Anderson–hope you kicked the sniffles. Evening to Randi, David Gergen and bloggers.
These numbers are so massive I can't even fathom them anymore.
Mike in Syracuse–you make a good point about President Harding, but the global economy has changed so much since 1920, you can't necessarily expect the same strategies to apply, can you?
We are in our mid 60's and will be needing our retirement money within the next year. It's already invested in 401k & an IRA. We've Lost 1/3 of it already. It's managed by a reputable small brokerage firm in the Bay Area. What should we do?
Thank you,
Elaine
What's in this bill that's not in the republican's $450 Billion bill?
Hi Suze,
If the value of my home has dropped 50% and I am so underwater that I can't refinance, is it better for me to forclose or do a short sale? Which one would we recover from sooner? Can my other assets be taken in a foreclosure or short sale?
Thank you very much
Hi Anderson et al,
Great Show!!
Cannot believe how much they trimmed the stimulus package....just wish they had kept in all the goodies in education.
Those CEO's rock....imagine taking all that money then begging for more??!!
You make my mornings, Anderson!
@ Glen Up North
The $70,000,000.00 was the bonus for the President & CEO of Goldman Sachs, Jon Winkelried in 2008. His salary was $600,000.00.
Good eve everyone-
I have a question for Suzie. I am really uncomfortable about this economic stimulus and all it's spending. I'm ready to take all my money out of the stock market for fear of losing it. Help me out here. Does anyone really know what is going on?
Ashley...I can see the headlines now... 'Stimulus Bill Delayed: Congress has to take Emergency Recess Due to Sugar Overload.'
Candi, the only difference between Angelina and the lady with the 14 kids is that Angelina can afford her children.
HELLO to everybody (the list is too long except for David G.- i'm a huge fan.)
I thinkthe president's trips have been great. Apparently, according to the excellent panel, the President may have problems ahead, everyone needs to remember tha t G. Bush and 6 years of the rep.'s put us in the situation we are in!
There needs to be accountability from each and every CEO for their lack of leadership in running their companies into the ground while stuffing their piggy banks at the expense of many hard working Americans. In addition, the Board of Directors for these companies also have some degree of accountability for allowing this occur under their oversight.
I am a small business owner. Not only could I not get loans. When I missed a payment by 2 days on my credit card which I have been using to get by they reduced me available credit on the card leaving a 10% buffer. Now all of my CC rates have risen past 22%.
I still don't understand why America doesn't print its own money! I expect things to get worse because not enough of the people with the money care about those who have less.
Where is the bailout money and how is it being used? I don't trust them....but they still have their jobs...they all need to be prosecuted.
Anderson,
The banks should not have received the first piece of TARP. There was no investigation of their financial condition before it was given to them. Now with exposure we find out they did not need it. They only wanted to fund their greed, rather than tighten their belts. Give TARP to small banks like Credit Unions who will loan money to Americans. The problem is most small banks run their business right, are not greedy, and probably don't need it. It may be a loan with interest but we don't need to fund their "business as usual".
If we are at a point where the Federal government has to borrow money to fund state activies, e.g., education, Why do we need states any longer?
citigroup is still out of touch. i've had a citicard for many years...never been late..paid my balance. on the first of the year my rate went from 6.74% to 14.99%. none of my other cards have raised their rates. citigroup just doesn't get it and they never will.
Cut the top tax rate from 36% to 26%. The economy would soar starting tomorrow. If the united states can't govern its people on 1/4 of the the public's money, maybe, just possibly, it has become too large. By the way, one trillion seconds is 32,000 years, just for perspective.
I am going to make a purchase of a new family car.
The car cost $50K ands I am not sure if I should take out a loan? I do not have a mortgage, and no debt. I make $100K plus per year and have over $250K in savings plus additional retirement accounts , 529 accounts for my kids college. I do not know if I should pay cash for the car in total or take a part loan? I do not like to pay interest ...but with the current economy what should I do?
I hope the stimulus pkg works. Candy is right. No one is exactly sure if this will work.
We have to try something. Nothing may work, or it may turn out beautifully.
Fingers crossed!
Anyone think that it's a bit creepy that an unemployed mother of 14 has money for plastic surgery?
I am wondering if congress realizes that the proposed economic stimulus package is equal to spending roughly $1,503,044.14 a minute for an entire calendar year!
Perhaps it could be better spent in a check for every man woman and child in the USA of a little more than 2500 dollars!
As an Obama supporter I am beginning to think that the rare air of DC is beginning to get to our man of the people, He and congress needs to remember that while it might smell nice up in the ivory tower right now down here in the streets IT STINKS!
Bank CEO’s SHAME on them we are having problem getting money to survive, how can they sleep at night. That's why some of us have left the country and are looking for better opportunity else where. Me and the rest of the family have a lot to say to the Bank CEO’s in a Congressional Hearing. But unfortunately we are a good Christian Family use your imagination.
One bank rescues another and we now have one bank that is really two banks. Who's on third?
I'm glad the recovery package passed. It's a good first step.
It kills me how these bank CEO's say "I take full responsibility" blah, blah, blah, blah..what exactly does this mean? Nothing! They still get their bonuses while I watch my IRA dwindle down to nothing.
They should all be made to literally be placed on Wall Street and have their heads and ankles put in a stockade for public humiliation.
Obama talks about "inheriting" this problem, but let's not forget that he voted for the first TARP that had no clarity or oversight attached to it. He doesn't get a pass for his bad judgment. He contributed to this problem.
So are they gonna ask these CEO's for accountabilities on the first $350 bil? are we just gonna let that slide??
I would say that any mistakes are just the growing pains of a new administration..... I just hope it is an administration rather than a continuance of the campaign.... President Obama, this is not an ongoing popularity contest.
It should be interesting to see how states will decide which contractors are chosen to carry out projects. Will the states choose contractors who have given money to their electoral campaigns? Who will be the watchdog(s) for that money?
How can anyone make a judgment on the President and his success and he's only been on the job for less than a month. Goodness, we give our yard workers and custodial workers a six month probationary period.
To make me feel more at ease I need a better presentation by the Treasury Secretary. His was very lame and unprepared.