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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. Jean

    Question for Suze: We count our blessings, we are in our late 50s, home paid for, no bills, about $300K in savings, still working, making about $150K per year. We are looking at retiring in about 4 years. We have money going into the Thrift Savings Plan. Where do we put our money? Real estate? Gold? More mutual funds? Thanks

    February 11, 2009 at 10:36 pm |
  2. Terence from New Hampshire

    I have a home equity loan in addition to my mortgage. If I sell my house, do I also have to cover the home equity loan in the sale? Or can I continue to pay off the home equity loan post-sale?

    February 11, 2009 at 10:36 pm |
  3. Ruth Gray

    This question is for Suze Orman. I would like to sell my house but I am making do. Should I refinance to lower costs now or just try to sell it? How likely is it that I am going to sell my house any time soon at a fair price (not bargain bassement).
    Thanks.

    February 11, 2009 at 10:36 pm |
  4. Orion - San Diego, CA

    By the way, Bail Outs, Stimulus Packages, and the Banks are RETARDED. This will not help America survive this emergency. Spend my money on our National Debt. Stop being stupid.

    February 11, 2009 at 10:36 pm |
  5. Barbara in Boston

    Hank, I loved your comment. Too true!

    February 11, 2009 at 10:36 pm |
  6. Isabel Abreu, Brazil

    Please, no more talk about the mother of octuplets.
    We take the time to Suze!

    Anderson Cooper,
    I do not disappoint, please!

    February 11, 2009 at 10:36 pm |
  7. Debra

    Suzy Ormand,

    You have discussed "short sales" as an option to those homeowners who are severely underwater on loans. However, the banks tell lenders they will seek deficiency judgements for any amount owed on loan (that was not covered on short sale). So, is a short sale really a way out of these loans?

    February 11, 2009 at 10:36 pm |
  8. Stephen

    It is outrageous to me, the entire situation. I, as an American, am angered. Do any of the elected have poblems getting food? Or mabye they have problems keeping their homes? Furthermore, I am in finacial turmoil. Can I fill out a form for some of those bailout funds? If I, and the rest of the taxpayes, can loan the Federal Government billions of bailout dollars, can I borrow some for myself? Mabye we should try "Trickle Up Economics".

    February 11, 2009 at 10:36 pm |
  9. Ed in Fort Pierce, FL

    Suzy,

    I am considering buying a foreclosed property at 115K that was sold previously for 350K. I own two homes outright and have less than 15K in debt. I have 1,000 a month to spend. I can access my equity line for 115K and lock the interest at 4.25%. My job is secure. Does this appear to be a good investment?

    February 11, 2009 at 10:36 pm |
  10. Vic

    So, Suze, I hear your anger about Wall Street excess.

    Tell me, do you travel by private jet?

    February 11, 2009 at 10:36 pm |
  11. Gretchen, San Diego

    Suze:

    Of those people you were just describing: own and $500K house that's worth $200K. Will there be any help for people like us?

    ~Gretchen

    February 11, 2009 at 10:36 pm |
  12. Michael

    Suze is the bankers who appeared before Congress today in drag.....she thinks that the way to live your life is the bottom line....forget ethics. That is what got us into this problem in the first place. How you can put such an unethical "television star" before the American public as an economic "expert" is beyond me....

    February 11, 2009 at 10:36 pm |
  13. Dee Roach

    The grass root system that Obama used to get elected, why can we not ask those same people to spend money in the economy. How many people could afford to spend something, could that make the economy jump start.

    We own the ecomony and the condition. American that are capable of spending should do.

    What could a individual person do?

    February 11, 2009 at 10:35 pm |
  14. gene N.C.

    Dear anderson, will you and others come true and tell all americans bailout is sellout all this is to help big buisness, and pepole who donated big to obammas campain. If you want to get banking back on track lets give this bailout to the home owners, this would end forclosers, and loans paid up, money back in the banks so they could loan out again. thanks gene

    February 11, 2009 at 10:35 pm |
  15. jack otto

    America's Answer to the Taliban is BANKERS
    Send them ALL to Guantanimo

    February 11, 2009 at 10:35 pm |
  16. Dodie from Irvine, CA

    Why get angry at the bonus??? We are stupid for giving them the money! So why get angry by it.

    February 11, 2009 at 10:35 pm |
  17. 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 10:35 pm |
  18. judy-nyc

    Mike in Syracuse:
    Warren Harding is ranked by presidential scholars as one of the worst if not worst–presidents of all time!
    ps hope you had as a nice a weather as we did today.

    February 11, 2009 at 10:35 pm |
  19. sean brizendine

    suze are municipal bonds safe?
    "sean in santa rosa"

    February 11, 2009 at 10:35 pm |
  20. lisa

    Question for Suze Orman.

    How much would our money be insured through NCUA if I, my husband, and my 2 kids had individual accounts? Also, what if my husband and I are joint owners on another account?

    Thanks!

    February 11, 2009 at 10:35 pm |
  21. sharon

    Why not give the american public money. Give all of us $100,000.00 and see how quick the economy rebounds. They couldn't build houses quick enough. They could not build new cars quick enough. How many mortgages would get paid off solving the forclosure crisis? The high paid bankers getting the million dollar bonuses don't know how to spend our money. Why not let us try to solve this ourselves?

    February 11, 2009 at 10:35 pm |
  22. Hillary B.

    Michelle Obama looks beautiful. I love the pics.

    It kinda makes me mad that Octu-mom has a website asking for money. She proudly stated that she's not receiving government assistance, but then she starts a website begging people for money. What's up with that? This woman is not a charity case, she created her money problems by going to a fertility clinic and having all of these kids whom she obviously cannot afford. I think she may need to be institutionalized.

    February 11, 2009 at 10:35 pm |
  23. Srini

    Hi Suze
    I changed my job in June 2008, is this the right time roll over my 401K. Obviously my 401k has taken a beating but does it make a difference?

    February 11, 2009 at 10:35 pm |
  24. vincent

    THANK YOU Suzie!! for telling the truth abou the bonus scandal!

    Great remarks re: housing values! We can't sell....then we can buy...m property hasjust been re-assessed so that my local, county and state taxes can be raised. What can i do?

    February 11, 2009 at 10:35 pm |
  25. Sean Notaro

    Suzie–

    I just read Gerald Celente's comments on the upcomming Great Depression he has predicted and the downfall in the commercial real estate market....Your thoughts on his predictions...Its not pretty

    February 11, 2009 at 10:35 pm |
  26. Mary H. St. Louis, MO

    AC,
    Thanks for having Suze on. She always has sound advice. I just got back from meeting with my financial advisor and we were saying the exact same thing... For companies to take a gov't bailout and then to pay bonuses like that, it is not right...

    February 11, 2009 at 10:35 pm |
  27. Miriam P.R.

    I am a 74 yr.old widow with $370,000 in investments, $2064 soc.sec. and
    $370 pension. My mortgage is $1100 and apt. maintance is $1600. What can I do to make my money last?

    February 11, 2009 at 10:35 pm |
  28. Deborah Morgan - Grain Valley, MO

    PLEASE ANDERSON! NO ONE HAS ADDRESSED THIS YET!

    Suze,

    What do you think government should do to address the plummeting credit ratings of otherwise responsible Americans who have seen their FICO scores decline in the wake of the recent economic freefall?

    Personally, my FICO score has fallen because of unpaid medical bills. A snowball situation developed once I got laid off, lost my insurance, subsequently had emergency gall bladder removal, and continue to struggle financially, having burned through my savings.

    Should my FICO score – and respectable credit future – be forever tarnished because of our failing economy? No one has addressed this facet yet…

    February 11, 2009 at 10:34 pm |
  29. Jamal From Chicago

    I’m about 40-50K upside down on my mortgage. I was financed at 100% by Bank of America in November of 2006. The purchase price was 160,000.00 dollars. It was an 80/20 loan and I just found out that the 20% small loan which is in the amount of 32,000.00 is interest only and something called a balloon. If I have 65K dollars in a CD, should I pay off that interest only loan? Also, would the bank sue me if I let the property go because it isn’t worth it?

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

    Susan O, should I invest 10% of my pretax money in 401k this year?

    February 11, 2009 at 10:34 pm |
  31. Miranda

    Anderson-

    Oh and Mrs. Obama looks beautiful!

    Miranda

    February 11, 2009 at 10:34 pm |
  32. Vanessa, TX

    WOW...octo-mom asking for money?? I would have never seen that coming..I had 2 mouths to feed, I can't afford to feed an add. 14..now I know she's gone BEZERKS..

    February 11, 2009 at 10:34 pm |
  33. Hank

    Anderson: What a relief to have an Obama stimulus plan to criticize after 8 years of a president without a plan.

    February 11, 2009 at 10:34 pm |
  34. Wendell Wahlin

    For Suzie:

    Should my friend go for bankruptcy? Owes 100,000 in credit cards.
    Can't afford minimums.

    Thanks

    February 11, 2009 at 10:34 pm |
  35. Neil

    I have never seen such insanity in my life. Anyone that actually believes that this 700billion+ spending will help should ask themselves this: When and where anyone spent their way into prosperity? Who is going to pay for this? How can we even keep up with the interest payments on this? What is going on is like maxing out a credit card, then paying it off with another one with a even higher credit limit, then repeating this process over and over again. At what point do you think the bubble will burst? And by the way - trust the government? When the president has to exempt his own ethical rules to appoint people? Is this trust? Transparency? I forgot - most people will agree that the government can't be trusted, so to fix the problem give them more control over you? The government is the problem. What we really should do is take our time look at this bill. There is no need to rush this expecially when only a small percent actually takes effect in the next 12 months. But they don't want the public to know what is really in it.

    February 11, 2009 at 10:34 pm |
  36. Miguel Luna Jr.

    Hi Suzy, Do they have modification programs for investment properties? Also I applied for a modification for my house and the bank told me I don't qualify because I haven't missed any payments so should stop paying my mortgage?

    February 11, 2009 at 10:34 pm |
  37. Jason Patte

    CEO Bonuses and Conrad Black?

    How is any of what is happening now any different than what Sir Lord Corad Black is in a US jail for?

    February 11, 2009 at 10:34 pm |
  38. Jimmy Mac

    AC...it is our money that our elected officials want to "do something" with...so why not give to us like Tina R suggested in a previous comment? A 30K loan that we will pay back with taxes paid for every legal middle and lower class American citizen...it would cost less to do that and it would certianly jump start the economy as soon as the checks were cashed...makes a whole lotta sense to me!

    February 11, 2009 at 10:34 pm |
  39. Jan L

    Suzy, I left my work on my own will late last year, however I didn't realize till now how tough it is to find a job nowadays, can i find any assistance from the government of some sort?

    February 11, 2009 at 10:34 pm |
  40. arafan

    hi, suzi is there any way i can buy a house i have a very good job and bean there for five year. but i dont have a good credit.

    February 11, 2009 at 10:34 pm |
  41. Steve - southern Illinois

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

    February 11, 2009 at 10:34 pm |
  42. Jolene, St. Joseph, MI

    Not only was the president of the Peanut Company in front of Congress today, I believe the plant manager was there too. I'm glad that Anderson highlighted that Parnell pleaded the 5th. and we should remember his name. Perhaps he's the one totally accountable but what about the plant manager? What's his name and did he plead the 5th. too?

    February 11, 2009 at 10:33 pm |
  43. BettyAnn, Nacogdoches,TX

    @Suze~ So should we refinance our homes at a lower interest rate?

    February 11, 2009 at 10:33 pm |
  44. Miranda

    Anderson-

    Why oh why are you giving Mrs. Suleman the time of day.

    Just wonderin'

    Miranda

    February 11, 2009 at 10:33 pm |
  45. Dave - NH

    Mr. Gergen, what are your thoughts on a reduction or elimination of employee withholding for 2 years or so? Wouldn't that put more money into all of our pockets for expenses and new purchases and produce immediate results, not "maybe a year from now?" What's the downside, if all of these plans are going to cost billions anyway? I don't hear anyone talking about this. Why not?

    February 11, 2009 at 10:33 pm |
  46. Glen Up North

    PeterD: if Citi changed their rate on you without proper explanation (i.e. in the past, they would justify a late payment as cause to raise rates), and informed you of an eminent service cancellation at the expiration of your credit card should you choose to remain at the previous interest rate... that sounds just plain despicable if they did it without explanation. 🙁

    February 11, 2009 at 10:33 pm |
  47. Clarence Albuquerque

    Suze , what about squatters that refuse to move on after forclosure? Do the get the sweetest deals? or are they really having to to bare the biggest burdens?

    February 11, 2009 at 10:33 pm |
  48. CaseyJ - Palm Springs, CA

    Good evening bloggers. I watched some of the hearings today and it was "entertaining." Some of our reps were really infuriated in their questioning. The bankers, as a whole, were just like politicians–rarely answering a question directly.

    February 11, 2009 at 10:33 pm |
  49. Simone

    Evening all
    Randi, you're doing a great job and you are like a breath of fresh air sitting in that chair...love your reporting

    February 11, 2009 at 10:33 pm |
  50. desirae

    hi everyone stop giving the crazy women air time that takes the American people money to support her baby's. we voted for obama to fix economy now let truest in him. i now it is hard to do that because of the last president. you know we the American people also got us in to this mess.

    February 11, 2009 at 10:33 pm |
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