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. Ashley - Hamlin, NY

    Haha Rikki. So true. I can't help but picture them giggling like school girls. Oh, wow.

    Peanut Corporation is a sick company, and I applaud Congress giving him another hard time. Can't we arrest him on 9 counts of death? "Serve nothing but the putrid sludge they have been selling out." Wow, Congress gave me chills. Now they just need to walk their talk.

    February 11, 2009 at 10:25 pm |
  2. Glen Up North

    Toni: didn't we only hear about the term "pork" in the media last November, about the same time we found out about the standard practice of "earmarks"? My guess is that would explain why it was never called "pork" before... and how now, everything someone doesn't like about something seems to be decried as "pork". As bad as the pun may be, Pork is the new beef...

    February 11, 2009 at 10:25 pm |
  3. Chris Sosa - Boston, MA

    @Vanessa – I have had a peanut-butter and jelly sandwich nearly every day this week. I'm thinking maybe I should cut that out...

    February 11, 2009 at 10:25 pm |
  4. Megan Dresslar - Shoreline, WA

    For Suze,
    I heard The Senators have already passed $ 838 billions, Are they willing help people and banks, is that true?

    February 11, 2009 at 10:25 pm |
  5. Michelle

    The peanut company CEO should be placed
    underneath a jail cell.

    February 11, 2009 at 10:25 pm |
  6. Pam W (Tampa,FLorida)

    There were no takers of the peanut butter snaks at that meeting. Hummmm I wonder why.

    February 11, 2009 at 10:25 pm |
  7. Stephanie

    Are retention rewards really helping already failing businesses?

    February 11, 2009 at 10:25 pm |
  8. Jo Ann, North Royalton, Ohio

    That guy should be charged with murder at the very least!

    February 11, 2009 at 10:25 pm |
  9. Rikki, Fargo, ND

    Shipping delays cost 9 people their lives? What some people wont do to make a buck?

    February 11, 2009 at 10:24 pm |
  10. Reggie in Dallas

    Hey, Lee – Oregon, money is fungible. You can't follow specific dollars to where they end up. The bottom line is that the banks that focus on consumer and commercial loans all, with the possible exception of Citi, have loaned out more money since they received the TARP money than they received. Wells, BofA and JPMorgan have all exceeded the amounts that they received.

    February 11, 2009 at 10:24 pm |
  11. Isabel Abreu, Brazil

    What explains the skepticism on the package, in my view, was the poor communication of the plan that instead of presenting a strong and understandable mechanism, presented a menu of ideas and some unstitch incomprehensible. The situation worsened on a day when they should begin to improve.
    The online media has brought words like lack of transparency, clarity, lack of details, pessimism, skepticism in their headlines.

    February 11, 2009 at 10:24 pm |
  12. Kim in Calif

    Im stuck with a 30% interest on a credit card that Wamu hiked 2x in 6m mos for no reason. Doubling my interest & pymt. 780 credit score and cant get a loan from B of A cuz they uzed the money for bonuses what a crock..........

    February 11, 2009 at 10:24 pm |
  13. Vanessa, TX

    so they can't call it "bonuses"..they are gonna call it..retention award.....WHAT?? that is ridiculous!!!

    February 11, 2009 at 10:24 pm |
  14. Dave - NH

    I'm tired of the octuplet mom. Let's leave her to the social services workers, investigate the clinic involved, and move on. I doubt she'll even have the kids in 2 years, since she can't afford to take care of them.

    February 11, 2009 at 10:24 pm |
  15. mike c

    it is about time thast congressial republicans be held accountable, did you guys forget when the gop rammed bills down the throats of dems, and the thing about this pres, is that he is going about things the right way, are not money bills supposed to start in the house

    February 11, 2009 at 10:24 pm |
  16. Clarence Albuquerque

    Retention awards are loans that don't have to be paid back if the person stays at the firm..... why quit? If your fired will you still get a loan?

    February 11, 2009 at 10:24 pm |
  17. BettyAnn, Nacogdoches,TX

    Hey Suze~
    What do we do if we all loose our money and the government changes currency. Should we invest in real estate? Unfortunately this is the wost case scenario. At least I hope this is the worst case!

    February 11, 2009 at 10:24 pm |
  18. Carrie Bradshaw, Upper East Side

    Award. Bonus. All bogus!

    How DO these people get away with this? How DO they sleep at night? Is anyone out there in the financial world honest?

    Good Lord!

    February 11, 2009 at 10:24 pm |
  19. Gary

    Is there anything in the PLAN that will help the average homeowner who purchased a home years ago and has not refi'ed to the sky and now is struggling to make the monthly mortgage paymenrt which has not changed but so many other costs have risen resulting in less left over after making the mortgage payment. How can I be excited by a plan that offers up more money to people who will be given $$ to buy a house when I had to save and beg and borrow to get into my house with no goverment help.

    February 11, 2009 at 10:24 pm |
  20. Renee

    For people who still have a job, and still able to pay their mortgage, but need to refinance their home, where is our relief?

    If your house is considered upside down, you can not get approved for a refinance. Also if you need to refinance, due to your mortgage getting ready to adjust, you can not refinance. The mortgage companies keep saying, we can't help you, you are paying on time. That is crazy not to help me, while I am able to pay.

    So I have to wait to lose my job, and my house get foreclosed to get help?

    February 11, 2009 at 10:24 pm |
  21. Emma

    This is ridiculous yet not unbelievable. If bonuses were handed out, the recipients should be forced to return them.

    February 11, 2009 at 10:24 pm |
  22. Brandie

    Anderson, do you think it is right to reduce the home tax credit? Do you have any idea how much the credit will be reduced? We are going to closing on the 26th and the original $7500 was a major part of buying a home at this point, my husband and I are worried that the credit will be even less than that.

    February 11, 2009 at 10:24 pm |
  23. Riaz

    If Suze Orman is so smart about providing financial advise to us all laymen, how come she did not see this financial crisis coming our way? She is so in tune with what is going on in the financial markets....at least that was the impression.

    February 11, 2009 at 10:24 pm |
  24. John - Orlando, FL

    How much will the bonus be for the peanut CEO? Seems everyone performing badly gets bonuses now. As bad as his company did sure his will top that of others.

    February 11, 2009 at 10:24 pm |
  25. Jane

    For Suze Orman: Is investing money in a "Repurchase Agreement" with your bank a good idea? Is your money protected/insured? Thank you.

    February 11, 2009 at 10:24 pm |
  26. CAthleen


    What to do? I am a low income, disabled senior with one credit card that unfortunately is maxed because of medical needs.

    I have paid it regularly and on time, but, yesterday the credit card company sent me a letter doubling my interest rate.

    Help, whatg do I do. I've lost my dollar power.

    February 11, 2009 at 10:24 pm |
  27. Candace from Canada

    Wow! I want to work at Merrill Lynch!

    Honestly! HOW can ANYONE actually EARN those kind of BONUSes?

    No wonder the economy is sunk!
    Shame on those bankers and their greed.

    February 11, 2009 at 10:24 pm |
  28. Diane

    I'm so glad someone else noticed... when I first saw that girl who had the octuplets, I thought, omg, she's an Angelina Jolie wannabe... from the lips and the hair to all the babies. What a nut case!

    February 11, 2009 at 10:23 pm |
  29. Tahira

    Dont give anymore money to the banks .All tax payors age 25 to 75 should be refunded all the federal taxes rhey have paid over their working lives they can deposit this intheir bank accounts and get the economy going ,buy cars homes start businesses etc ,bring back credit card interest car finance interest tax deduction!

    February 11, 2009 at 10:23 pm |
  30. Rikki, Fargo, ND

    It absolutely infuriates me that these CEO's think that their top management still deserved these massive bonuses when hard working tax paying citizens are kicking so much money into their companies!

    February 11, 2009 at 10:23 pm |
  31. Chris Sosa - Boston, MA

    Wow, I knew the situation at Merrill Lynch was pretty ridiculous, but I was unaware of the scope. Embarrassing really.

    February 11, 2009 at 10:22 pm |
  32. Nicole

    Hi Suze,

    What would you recommend one do with any additional cash flow they may have right now? Is a mattress a good spot?


    February 11, 2009 at 10:22 pm |
  33. Mary

    Enough is enough! No more money to the banks for their ATL's (Assets turned Liabilities). There are no toxic assets; only accounts receivable that would never be receivable because of the greed of the same bankers who are now asking for more money. The same CEO's that caused this crisis are asking for more money, and they are not reducing their own bloated pay levels. What I am not hearing is what is the worst case senario if congress lets some of the banks fail? I'm sorry, but there are no do overs for bank CEO's and the American People are now in the Jerry McqGuire mode "Show me the Money."

    February 11, 2009 at 10:22 pm |
  34. David, Indiana

    Hi Anderson, Randi, Megan, everyone blogging. Sorry I'm a bit late was doing stuff here at home. I was glad to here that the banks whose CEO testified before congress today were in fact loaning out some money, although there are a lot of questions about that.

    But the big relief is that the House and Senate have agreed on a 789B stimulus package. I am happy about this. I think it will help to get the economy moving. Seems sensible to me for the federal govt to attend to infrastructure, making fed bldgs energy efficient, encouraging solar wind energy, increasing educational grant availability, helping states make their payrolls so things like school other services are uninterrupted. This is good sensible government.

    February 11, 2009 at 10:22 pm |
  35. Scott C. Palmer

    What exactly is a "Bank Examiner"?

    Remember 'It's a wonderful life.'

    February 11, 2009 at 10:22 pm |
  36. Clarence Albuquerque

    Andrew Cuomo is so correct. I wonder how many citizens really know what happens in the recesses of the rescue of revenue ransackers.

    February 11, 2009 at 10:22 pm |
  37. Michel Cobb

    Its our money,congress forgets that when they want to give it away and not ask where it all went.This has never worked befor why would it work now.Jobs fail so do people that is how we learn.!The banks are to blame (somthing for nothing who wouldnt take it)lending to who ever.Give to money to the people that could use it.

    February 11, 2009 at 10:22 pm |
  38. Scott Recker

    QUESTIONS for which I have never heard answers: (may be related)

    1) Where EXACTLY did the additional $5 Trillion in debt we accumulated under W come from? EXACTLY.

    2) If a wartime economy got us OUT of the Great Depression, why has THIS wartime economy not done the same thing?

    February 11, 2009 at 10:22 pm |
  39. Rosanna Dill, NM

    Hi Anderson, and fellow bloggers! I too am ready to let the banks have it. I plan to call chase and rake them over the coals a la Maxine Waters over changing the rates on cards. I could put it on speaker phone and record it and send it in to ac 360.!

    February 11, 2009 at 10:22 pm |
  40. Dave

    Anderson...we're hearing huge unheard of numbers from Capital Hill, but we're reading "hundreds" back in our pocket??? We need to be hearing "thousands" in relief for the average American. I don't think they get it. We're all struggling and a few hundred will only get us through a month or so. This is why confidence levels won't translate into a recovery on Wall Street...but I'm just an average blue collar guy...what do I know?

    February 11, 2009 at 10:22 pm |
  41. franky

    why can't we just leave the mother of 8 alone???????????
    that is her own problem, if all of you that always complain about her i guess you don't have problems she does !! and she do not need your critisism

    February 11, 2009 at 10:21 pm |
  42. Michelle

    i think there is way too much over analysis of everything
    on the daily basis. The market this or that or this person
    is winning or losing. The fact is nobody know how things
    will turn out.

    February 11, 2009 at 10:21 pm |
  43. Rose

    Hi Anderson
    I am watching the show. I have a question. With the tax cut that is part of the stimulus package. Is this a one time check to the American people or is it in the weekly pay check?

    I am listening to the show, and can't help but think. At the hearings they are talking millions and billions. When most people can just about make the rent, buy gas, and food. I think there should be some of us working people in the room.

    Thanks Anderson

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

    Why not have the credit card companies put a hold on interest and let us catch up on things, or at least put a cap on what they can charge us. If we can not pay minimum payment we can not afford adding insult to injury. Also have the banks stop charging interest for say 1 year and let all payments go toward the principal. Washington want things that will help us now, there are a couple easy things.

    February 11, 2009 at 10:21 pm |
  45. vanessa from silver spring, MD

    I am so mad about this peanut butter thing. Ever since this scare I haven't bought any peanut butter. I could really go for a peanut butter & jelly sandwich right now. LOL. I haven't had one in like a month.

    February 11, 2009 at 10:21 pm |
  46. Steve S

    Note to Mr. Obama: Yes you can, but please don't. You are making a big asumption that this is the change that America voted for. You convinced them to vote for change, but didn't tell them what that change was. Let's change the idea of not forcing banks to make bad loans and then blast them for failing.

    February 11, 2009 at 10:21 pm |
  47. Lori from IL

    Interesting panel - but my response is give President Obama and his team time. It's only been 3 weeks, he's facing enormous challenges and let's face it - he's out showing the people a lot more leadership in three weeks than we've seen in the last 8 years.

    If economists can agree on what to do to solve this problem - why are we expecting one or two people to have all the answers and right now. The first thing we need is consumer confidence and seeing our president getting bills passed, interacting with "Main Street" helps plant the seeds of confidence.

    February 11, 2009 at 10:21 pm |
  48. Toni

    "Pork" is tha new buzz word for this bail out to help main street America. Why was it not called pork when the last administration gave billions of dollars to fund all the salaries on wall street ?

    February 11, 2009 at 10:21 pm |
  49. nitram


    February 11, 2009 at 10:21 pm |
  50. Wendel from Ohio

    Why is CNN saying Obama parallels Lincoln? I think he is more like Hitler. The government is taking over our banks, health care, etc. and soon will start blaming someone else for the problems. This sounds more like 1930's Germany.

    February 11, 2009 at 10:21 pm |
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