Live Blog from the Anchor Desk 2/20/09
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Hi everyone
I dont know about this plan-it might boost the economy just a bit, but in the long run the ones who are going to suffer and be stuck with this debt is out kids and grandkids! Besides the previous bailout and stimulus did not do anything, if anything made the situation worst 🙁
Sabrina, good point.
Evening, Erica! Oscar weekend should be fun and a welcome morale booster.
If we nationalize the banks, is that temporary or is there no turning back from that? Uncharted waters indeed.
If a bank is to big to fail because it will bring down the economy of country it should be Nationalized. The bad Mortgages should be renogiated and allow the bank to take the loss. Break up Big bank and sell for a profit later down the road. Let the Government install the board and let bankers run the bank
I don't understand why people aren't buying more stocks in companies that have their values declining. As long as they stay in business, everyone should buy more shares to equal what they were paying before this economic mess happened. then as values increase, rationalize your amount of stock to it's orginal worth.
So federalizing the banks means that the government runs the banks and pays. Does that sound like a good idea? What makes them think that the government can run a bank? That scares me...
What's happening with the banks is dreadful, though I'm not sure if nationalization is the best route, but I also don't want to keep hearing stories of how these banks are not being prudent with their bailout funds.
Good Evening everyone.
Thank you... Thank you Clark Howard!
BAC closed at 3.79 today. Citigroup closed at 1.95 today.
my account with BAC is in very good standing and my credit line is very high. If the bak were to be nationalized what would happen to credit lines in terms of adjustments
Good evening & TGIF:
My mattress is looking better and better as a safe and secure bank.
I agree with Clark Howard.
Good evening Anderson, Erica and everyone! Hope everyone had a great day! I'm not sure nationalization of our banks is a good idea....I tend to agree with David Gergen it should be absolutely the last resort!
They need to do something for the banking system. I don't know if nationalizing will work but hey they need to try something.
Cindy..Ga.
Gergen-When you say private capital and public capital for these banks,are you talking about another bank bailout?
The nationalization is no guarantee of productive efficiency in the company’s poor financial situation; it may no contain the crisis; it can no provide resources to State; and finally can no improve the service to the public when dealing with service companies.
Hi Anderson and all Bloggers
Makes me want to go get my money and put it under my mattress!
Isn't what they used to do in days of old? Wow – just too much going on.
It's good to see The President laying down the law to the mayor's and giving Americans an opportunity to see how our money is being spent.
@Sabrina: The southern governors continue to be elected because they cater to the larger cities which have large populations. The poor and minorities are in more rural areas. But remember, Obama lost SC by only 10% which is stunning really if you know the history. He lost Georgia by 5 or 6%. Already the mayor of Charleston has told Sanford he should take that money. So Sandford may try to take for the cities and turn down for the democratic and minority areas. That's why Clyburn had the bill include a clause that allows the legislature to overturn the governor.
I forgot to greet everyone – Anderson, Erica, David Gergen and all the Best Bloggers!
I think that President Obama is just trying to be realistic. Expectations have been so high, they really needed to be brought to earth. It's sad, but if he's not honest, he'll get hammered later. I think everyone needs to take the situation seriously and stop in-fighting and partisanship. The GOP needs to suck it up and stop hoping for this administration's failure.
Nationalizing the banks... wow... Zombies... the walking dead? What does bailing them out mean? Are the bank execs at least getting the idea that they cannot keep living high off the hog... especially at the publics expense?
What nationalization of banks means is that stock holders will be wiped out - 401 K's down another 25% or more.
Thank you Clark Howard!
Finally someone can see this clearly
Happy Friday to Anderson, Erica, 360 Crew and Fellow Bloggers -
Nationalization of the banks? - If the govt. nationalizes the banks, would it be individual banks (those in trouble) or all banks? Not clear how this works. My bank is locally owned and in sound financial condition, but obviously many banks are in trouble.
Yes nationalize the banks and overhaul
the entire banking system. It is broken and
needs fixing big time.
Ed Henry says that the administration needs to illustrate confidence for the American people, we don't really need that, we need information about the plans the administration is coming up with. We don't want to be in the dark.
I wonder if any of the dollars will find its' way to small communities. not just large metropolitan areas.
Evening Anderson and all.
I like Clarke Howard. I wish you'd have him on more.
Cindy..Ga.
Hi Anderson, AC360 team & all bloggers. The banks were already given a bailout and no one saw any of the money except the ceo's, they didn't help any of the home owners or gave out any loans.
Hi everybody...looking forward to a great show as always,
hello fellow bloggers too! TGIF
Hello, Erica!!
How many news today!
Hi Anderson, AC360 team & all bloggers. The banks were already iven a bailout and no one saw any of the money except the ceo's, they didn't help any of the home owners or gave out any loans.
Erica, I need a laugh this wknd, so i'm going to see Madea Goes to Jail tomorrow. Can't wait to laugh!
Happy Birthday to you Mom, Anderson. She is such a gifted lady. And by the way, congrats on your award. Well deserved.
It simply doesn't make sense to refuse funds. What's done is done. Why make your community suffer because your a Republican?
Happy Friday, everyone! TGIF indeed, Bea. I hope you all have great weekends planned
In SC cities and towns were told to submit their wish lists for the stimulus. Now Sanford claims he's going to turn it down? CNN should get those lists and see how bad off some areas are in SC!
Who is Dodd trying to kid, the government never does anything for just a "short time." Once it starts they will never be able to go back.
Good evening, Anderson. Silver Falls Bank is just up the road! Wow! There are a lot of small banks which opened up in the last few years. Looks like they’re not very well capitalized. Most of them relied on mortgage business – ooops!
SC Governor, Mark Sanford has the third highest unemployment rate in the nation but yet he may turn down the stimulus. It’s just politics for these people and it amazes me how they continue to get elected. I wish the media would mention these horrific numbers in these Southern Governors states and ask them to explain why they would turn down federal aid and call themselves moral individuals. Not to mention Gov. Jindel turning down 90 million in unemployment benefits for his state.
Hi Megan
Good evening bloggers! My family banished me to a bedroom only to find I couldn't p/u a wireless connection. I'm watching on my Sprint phone in another corner of the house. Whew! (P.S. I also changed a dinner date to one hour later, so I could blog with you!!)
Good evening everyone! <3 Happy Friday!
Who is Clarke Howard?
Sorry to hear about the struggles in Silver Falls, I lived in Mt Angel years back. Best wishes to those communities.
I don't think that it's a good think, but I'm not sure what else could be done other than nationalization of the troubled badly.
What a week.
Hello everyone. TGIF!
The nationalization of banks is dangerous and can swell the public coffers.
Evening Anderson and all!
Clarke Howard is going to be on...COOL!! I like him a lot!! I hope that you have him on way more!
Cindy...Ga.
Hello, Anderson,
I’m glad to see you!
How many news today!
Hi, AC360 team and bloggers!
Hi, Megan!
Evening for everyone!
Nationalization of banks ... I'm afraid of that!
Is not a guarantee of improvement of the situation.
Hey Anderson, Erica, awesome bloggers, Fabulous Floor Crew, Jack.....Happy Friday!
So if the banks are federalized, does the same go for credit unions?
Visited my freinds at Saturn today – they are really scared for their jobs.