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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. Erin

    BONUSES???? Is that what they're calling it? In the old days they called it "highway robbery." Then the vigilantes went after the robbers and hanged them! Where are the vigilantes when we need them?

    February 11, 2009 at 10:33 pm |
  2. John - Orlando, FL

    Hi Suzie, If I stopped paying on my house would it not destroy my credit though or would my next lender understand what actions I took?

    February 11, 2009 at 10:33 pm |
  3. Apple, NJ

    Anderson, you are not doing a 360 on the bankers, it's too one dimensional, there is much more depth in this story. You know, no matter how well-intentioned it is, if years ago the government hasn't set up the policy to encourage low-income people to have their own houses, the banks wouldn't have started all these bad loans. Don't blame the banks alone. And how about the American public who always go for bigger and better stuffs in life on borrowed money and never think about how to pay it back? Has the government even planned on paying back the huge national debt we have? It's just getting bigger and bigger.

    This country, from individuals to banks to government, all believe economy can be built on borrowed money and spending, that's exactly what the problem is. Now all that is collapsing, the fake borrowed part is suddenly gone, the banks got hit first, individuals are struggling to learn the lesson their own way, the next will be the government.

    February 11, 2009 at 10:33 pm |
  4. Chuck

    The CEO of the peanut company that pleaded the 5th should be thrown in jail and the key thrown away. When he allowed tainted food to go out to the public he gave up any rights to use the constiution to protect such a slime.

    February 11, 2009 at 10:33 pm |
  5. Lesa, TN

    The Octuplet's mom favors Angelina Jolie with the lips and hair. But I think she looks more like Janeane Garofalo.

    February 11, 2009 at 10:32 pm |
  6. Diane

    I'm a real estate agent – the housing credit is necessary! this started with housing – housing needs fixing. Barney Frank is clueless and needs to GO – he was a gatekeeper for years and was culpable in the Freddie and Fannie mess.

    February 11, 2009 at 10:32 pm |
  7. Emma

    It's no coincidence. That woman wants to be Angelina Jolie...look at the hair and lips.

    February 11, 2009 at 10:32 pm |
  8. Steve - southern Illinois

    Suze Orman:

    Do you know any way to avoid losing a non-service connected VA pension for a year if I or my spouse inherit any more money?

    February 11, 2009 at 10:32 pm |
  9. Sam M. Ewa Beach, HI

    @laron walker – i'm a sophomore in college. scholarships and grants will be even more competitive. Don't forget fafsa! there are some good scholarship sites like fastweb. Some colleges offer to input your application essay for scholarships. Look for that. Also, getting the university scholarships are easier coming in as a freshmen. Good luck.

    February 11, 2009 at 10:32 pm |
  10. Peggy Schroder

    My husband works full time, is 71, – has a modest 401K account with his work – all the money goes in is his – no matching funds. We have lost approx. 1/3 of the balance already.

    We do not have 5 – 10 years to leave this in the 401K to regain the losses. What are the consequences of pulling the monies out? and where should we put the money in? Should we leave it in 401K.

    Thanks so much

    Peg

    February 11, 2009 at 10:32 pm |
  11. Isabel Abreu, Brazil

    Anderson,

    Today, said to be very that IMF and that the USA didn't have recourse to the International Monetary Fund.

    That would be a letter in the sleeve, if the package doesn't has the expected success?
    I especially feel cold in my tummy to hear of the IMF.

    Thimoty Geithner was director of the IMF or am I confused?

    February 11, 2009 at 10:32 pm |
  12. Amina from TN

    WHAT!?
    ok i am sorry but how rediculous of them to plead the fifth
    peple died because of their actions. i say we boycott their products
    all you pb n j lovers out there lets show this idiots that we can break their business

    February 11, 2009 at 10:32 pm |
  13. Megan Dresslar - Shoreline, WA

    That is so horrible my mind..... I heard that Company have tained so bad peanut butter!!! I hope they will investigate the company!

    February 11, 2009 at 10:32 pm |
  14. Reggie in Dallas

    Sanjay in Boston – assuming your credit is good and that you still have about 20% equity in the house, you should be able to refinance your loan at a savings of about 1%. Your financing cost should be covered by your interest savings in about a year or so. Its is worth talking to your lender about refinancing.

    February 11, 2009 at 10:32 pm |
  15. Lou Whitfield

    Re:Current financial crisis.
    To the corporate robber barons and politicians that are in bed together on this, I say this to you-
    I hope you and your families go to bed tonight and never wake up.

    February 11, 2009 at 10:32 pm |
  16. Brian

    This question is for Suze Orman...My wife and I currently still have our jobs, are able to pay our mortgage every month and are contributing to our IRA/401's. We do have some credit card debt that we are currently scrambling to get paid off. It is not going to be impossible to do hopefully sooner than later, however the way everything seems to be going, we are worried now more than ever about the loss of job possiblity and wonder now if we should be more concerned about getting our mortgage paid for sooner. We have a 15 yr mortgage with only about 7 years left. Please advise!! Thank you Suze for all you do for all of us.:)

    February 11, 2009 at 10:32 pm |
  17. Judy Kuykendall

    The constant CHANGING, FLASHING etc. of the signs & names at the bottom of the screen is very frustrating and tiring on the eyes. Please stop it, It totally interrupts what is being said. Please let us know on the program that you are going to stop this.

    February 11, 2009 at 10:32 pm |
  18. Melissa

    I am going to hide my money in a coffee can it may not collect interest but at lease I know that if i hide 500.00 i will still have 500.00

    February 11, 2009 at 10:32 pm |
  19. Michelle

    I agree with Suze Orman. Geithner should
    work on his own time table to fix the housing
    crisis. Ignore the media and do your job.

    February 11, 2009 at 10:31 pm |
  20. linda

    Question for Suze Orman

    My husband and I are working hard to pay off our credit card debt. After this we plan on following your advice to save up an 8 month emergency fund. Right now we have enough money in stocks that we can transfer this money to money market treasury funds within our IRA. Should we do this and then convert it to a ROTH IRA thus making this a liquid savings meeting our goal for our 8 month savings?

    February 11, 2009 at 10:31 pm |
  21. CAL CAMPOS

    Suzie what do you think of all the major department stores and cutbacks? How is retail looking for you ?

    February 11, 2009 at 10:31 pm |
  22. Clarence Albuquerque

    Real details are at ground level.... where the house sits.

    February 11, 2009 at 10:31 pm |
  23. Rodney

    I have lost 35% of the value of my rollover IRA, based primarily in stocks and bonds.

    Should I move to all cash for the present time since there does not seem to be any stablilty in the markets at this time?

    Thanks.

    February 11, 2009 at 10:31 pm |
  24. Kay

    All I have to my name is $315,000 and I am 56 yrs. old.. I am tempted to buy rental property at a great price and keep around $100k in cash to secure a bit of a future. What do you think???

    February 11, 2009 at 10:31 pm |
  25. Denise

    My tax person just told me that if you had a forclosure on your home the banks are making people report the difference from market value and what they owed and people are owing thousands of dollars to IRS. This is not right. They lost there homes and what else do they have to loose. The banks got there money. The president needs to stop giving money to the banks and give it to the people that need it.

    Denise

    February 11, 2009 at 10:31 pm |
  26. Diana Monize

    As for the bankers testifying before Congress, my heart bleeds pure purple panther pee for them and their woes. Bank CEO's: here's the world's smallest violin that plays my heart bleeds for you.

    February 11, 2009 at 10:31 pm |
  27. carlos

    Hi Suze,

    Are economy is in perel do to people not having money to spend and the people who do have money to spend are being told to save.
    Dont you think you should stop advising the saving effort.

    February 11, 2009 at 10:31 pm |
  28. Laurie

    Suze,

    Should we reduce the amount we are putting into 401K's and use that money to pay down mortgage?

    February 11, 2009 at 10:31 pm |
  29. Barbara in Boston

    Okay, so Congress has a real beef with bank CEO's for not disclosing what they did with the original $350 billion, but Congress telling off bank CEO's for their loan practices is too hypocritical for my taste. After all, Congress passed the laws loosening banking regs that allowed all this toxic asset mess to get going in the first place.

    February 11, 2009 at 10:31 pm |
  30. Andrea

    Let the CEOs live a year in our llives: working two jobs at hourly rates with no healthcare; living off savings and retirement money (if there is any left); and praying we can keep afloat long enough for the stimulous package to make a dent. I mean it – the bonuses are criminal but even their salaries, deferred comp and regular benefits could keep multiple families alive for a year or more. AND...have them each go to Town Halls across the country so they can experience our pain first hand.

    February 11, 2009 at 10:31 pm |
  31. James

    I need desperate advice retired Dec07 took 500k buyout,used money to take two homes out of foreclosure,took from IRA only 49yrs need tax/and financial advise.PLEASE HELP

    February 11, 2009 at 10:31 pm |
  32. Hillary B.

    I don't understand why we can't find out what the banks are doing with the taxpayer's dollars. If I personally lent someone millions of dollars to let's say, start a business and I see no evidence that they have any remote inclination to actually start a business. It would go down.

    February 11, 2009 at 10:30 pm |
  33. jay

    Suzy i just left my 50 thousand dollar a year job to start a business. I hated my job in corporate america and i know i can be successful and gain an income but it is a huge risk. Did i make the right decision.?

    February 11, 2009 at 10:30 pm |
  34. Rafael

    Anderson,

    In order to solve some of the mortgage problems, why haven't we heard of 40 year mortgages like they us in Japan?

    Also, why haven't we heard anything from the Small Business Administration? They could do a lot of help lending directly to the small business owners.

    Thanks.
    Rafael

    February 11, 2009 at 10:30 pm |
  35. Pam W (Tampa,FLorida)

    Kudo's Suzie!!

    February 11, 2009 at 10:30 pm |
  36. Jo Ann, North Royalton, Ohio

    Somebody better tell those overpaid CEOs that the job market is tight right now.

    February 11, 2009 at 10:30 pm |
  37. Clarence Albuquerque

    Suze, so cute, so Savvy.

    February 11, 2009 at 10:30 pm |
  38. John - Orlando, FL

    Time to name a banking czar? He can start by asking the return of the bonuses.

    February 11, 2009 at 10:30 pm |
  39. Sue

    I have a question for Suze: I'm a single Mom, work 2 jobs,owe 165,000 on my house, I have a 5 7/8% mortgage rate. Can I re-Fi?
    I'm getting ready to lose $500/mth alimony and am worried if I can keep my house.
    Help Me Please, I've never missed a note.

    Sue

    February 11, 2009 at 10:30 pm |
  40. Lesley Miller

    Thank you Anderson for calling out the "Peanut Guy". We do need to see his face...ridiculous!

    February 11, 2009 at 10:30 pm |
  41. Bonnie

    Dear Suze: Should we turn our lines of credit into a low interest mortgage (approved for 1/2 point under prime)? We own a home and a second duplex outright and want to remodel our home and invest the rest into a retirement account? We pay our credit card debt in full monthly, have income of $70,000, and stocks worth $60,000(our investments went up during this downturn thanks to hubby) We are 55yrs old.

    February 11, 2009 at 10:30 pm |
  42. Steve Peklenk

    As an Owner of a small business facing a huge reduction in business what should I be doing with current cash to be invested?
    We are cutting expenses as much as possible. SHould I set aside money for future mortage/rent payments when income does not come in and for how long?

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

    Hi Suze,

    My boyfriend and I LOVE YOU! I'm 30 years old with credit scores of 747, 730 and 722. (Equifax, Experian, Transunion respectively) I don't have much in terms of savings but am considering an FHA or SONYMA loan requiring only 3% down. I make $55,000.00 yearly and want to know my options at this point. Any word?

    Love,
    John

    February 11, 2009 at 10:29 pm |
  44. Terry

    Where can I go need car repairs and way short of the finances its going to take for the repairs. I am working and rely on my car to get me there. I feel the employment crunch and without my car running to get me there I risk losing my job. Where can I get my car repaired on a payment plan. Loans seem to be out of the question.

    February 11, 2009 at 10:29 pm |
  45. mitchell slock

    y cant they just make pot ligeal that would jump start the problem america is in

    February 11, 2009 at 10:29 pm |
  46. Nausheen

    80/15 loan, First loan is at 5.5% for 476,000 5 yr ARM and the second loan for 80,000 is at 7.4% 15 year arm. Should we dump our 40K savings into the second loan so we can refinance eventhough our house is 390,000? We are scared about our loans reseting in 3 years and what the market will be like then.

    February 11, 2009 at 10:29 pm |
  47. Mike, Syracuse NY

    @frankly, since octo-mom is taking public assistance to raise her kids, it IS our business. Do you want your taxes going to this nut case?

    February 11, 2009 at 10:29 pm |
  48. Jo Ann, North Royalton, Ohio

    You can tell that Suleman has had plastic surgery. So who paid for that and that expensive French manicure she was displaying on the Today Show? She didn't pay for those with food stamps.

    February 11, 2009 at 10:29 pm |
  49. Pam W (Tampa,FLorida)

    Suzie Can you even begin to answer all the questions people have in this horrible state?

    February 11, 2009 at 10:29 pm |
  50. Glen Up North

    Scott: I can probably answer Question #2 for you: the reason why this wartime economy has not gotten the US out of debt is that it has not ended. In fact, being originally termed a "war on terror", as originally conceived it has no conceivable end.

    February 11, 2009 at 10:29 pm |
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