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February 20th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/20/09

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Filed under: Live Blog • T1
soundoff (569 Responses)
  1. Berto

    I have seen many people angry about the help for the homeowner foreclosure. Why so much anger? I understand the anger for wall street bailout, but homeowners.

    February 20, 2009 at 10:58 pm |
  2. Lauren--NY

    Everybody have a great weekend and enjoy the Oscars. Coop, have fun out there and have a safe trip back.

    Take care, all!

    February 20, 2009 at 10:58 pm |
  3. Robert Cauldwell

    Hey everyone, we happened to be able refinance in the midst of all this in October. We though we were getting a good deal but in the end we went from 117,000 toi 143,000 with 0 payout. Needless to say after consulting several lawyers who said the process would be long and they would not be able to recoup thier money is there wa way we can actually save our home value? We owe now almost as much as the home is worth and because we did not get the 13000 or so for improvements we thought we were going to it is going to stay that way. We tried to contact our mortgage company to streamline the mortgage but apparently MVB Mortgage is not not able to fund anymore loans. I am contacting the FHA about this loan as well but my real question is will we be able to sort out home value versus loan amount under the new Obama plan for those of us who have never been late but have suffered significant home loan devaluation?

    February 20, 2009 at 10:58 pm |
  4. Steve - southern Illinois

    Take time to enjoy nature this weekend!

    February 20, 2009 at 10:58 pm |
  5. Damaris Lopez Connors

    February 20th, 2009 10:50 pm ET
    Your comment is awaiting moderation.
    The bailout program does not address those whom lives in california.
    My situation is that i took extra money on my principal home and today i have a reduction of income so i am having problem making my payment.
    I do have other properties, which i rent. The tenats are behind as well.
    I particular dont care if i lose those homes but here is what President Obama has not thought of it. Like many there are many mom and pop investors, so the money our we lose our homes , it is further depress the average cost of a housing. Foreigner are coming to the USA and buying them.
    I believe they should have conducted a focus group to identify whom are really the specalutor and whom are the irresponsible home owneres. I got news , most of us in this situation are in that situation.
    I think his message really negative impacted the stock market because it caused more negative reaction than positive.

    February 20, 2009 at 10:58 pm |
  6. Gin

    Seems like the world are having these problems. Is bankruptcy an option.?

    February 20, 2009 at 10:58 pm |
  7. Pat Long

    It seems to me that the only banks that cas be trusted sare the smaller banks that did not have the wherewithall to go into the subprime bussiness or go too deep into dervatives etc... it is a matter of mindset. In the same way the corporations have to clean out everyone in the upper management to thwhen they lose gthier ratingsd or are abvout to declare bakruptcy the "human condition"
    Some of the bigger bank wiull need to be nationalized. Only the goverment has the reach and rtange to do this

    February 20, 2009 at 10:58 pm |
  8. Jasmine-Spokane,WA

    see ya! 🙂 🙂

    February 20, 2009 at 10:58 pm |
  9. Rikki, Fargo, ND

    I loved that video! It was awesome and I'm glad most people thought it was funny! It was great!

    Well good night Anderson, Erica, David, Joe, Ashley, EJ, Brandi, Megan and all my fellow bloggers! Happy Friday and have an awesome weekend! I'll talk to you all on Monday!

    February 20, 2009 at 10:58 pm |
  10. Bea

    Goodnight all.

    February 20, 2009 at 10:58 pm |
  11. Bridget, TX

    I would've taken the baby back to the doctor for fear of an allergic reaction.

    Nite all:)

    February 20, 2009 at 10:58 pm |
  12. Marge

    No more bail outs. it is time to let the strong survive. Cut payroll taxes in half so people can afford to pay there bills. cut business taxes. Cut estate taxes.

    February 20, 2009 at 10:58 pm |
  13. Maureen T, Canada

    Thanks for the great show Anderson! Have a wonderful weekend! Rest easy.

    February 20, 2009 at 10:58 pm |
  14. Esma

    I still love that video, go David!!! You are a rock star!
    Have a great weekend, everyone!

    February 20, 2009 at 10:58 pm |
  15. Lori from IL

    Good report, Erica - people need to get the memo that sex is a good "stress" reliever.

    Waiting for Anderson to do another report on Internet Porn complete with the funky music - I read somewhere the other day that for every "regular" page on the Web, there are 4 porn pages! Yikes!

    February 20, 2009 at 10:57 pm |
  16. Megan Dresslar - Shoreline, Wa

    Good night Anderson, Erica, David G, EJ, Glen, Minou, Pati, Isabel and best bloggers!!!
    Have a great night and Sleep tight everyone!!!!
    Have a great weekend! See you on Monday night!

    Anderson,
    Have a great sleep at home after work, Have a good time weekend….
    See you on Monday!!!

    February 20, 2009 at 10:57 pm |
  17. Curt McElroy

    There are 6 houses on my street in forclosure that will crush what remaining value I have left in my home if they go to forclosure auction.
    I live within my means and would be just fine if my 6 neighbors were to benefit from this bailout.

    February 20, 2009 at 10:57 pm |
  18. Clarence

    It used to be that going to the dentist was a dreaded day.... that kid looked kind of obivious.... new the dreaded day can be when you have to face your banker. 😉

    February 20, 2009 at 10:57 pm |
  19. Cessy, Chicago

    Have a great weekend everyone! Be safe!
    See you all on monday.

    February 20, 2009 at 10:57 pm |
  20. Emma, Ashtabula, Ohio

    From your last segment Anderson it sounds like the business preditors are out ahead of Pres. Obama. I follow corporate crime in government and non-profits. The fines these corporations receive for the crimes of bribery, racketering and fraud appears to be written off as the 'cost of doing business'. My question is to Ali and others. Is there any such thing as illegal fraud, racketeering and extortion in the 21st century version of free market economics where all these criminals go to jail?

    February 20, 2009 at 10:57 pm |
  21. vanessa from silver spring, MD

    I still watch that video of that little boy all the time. It never gets old. Wondering if I should watch Conan O'briens last show in NY tonight. I guess I could check it out on when Craig Ferguson goes on breaks. Me as a college student, I don't feel the pressure that people are feeling when it comes to home foreclosures, but the pressure of paying tuition and trying to find a job, and worrying about a job after college is enough stress for me.

    February 20, 2009 at 10:57 pm |
  22. Carrie Bradshaw

    Have a good weekend all. Enjoyed the discussion.

    February 20, 2009 at 10:57 pm |
  23. Janet

    I believe if the banks receive federal funds to keep going it is then a government bank, the government (the taxpayers) has it as collateral, just like when you buy real estate, car, etc. Until the money is paid back, it belongs to the lender (taxpayers). If that is nationalization, so be it. If the banks don't want that, then don't take the money.

    By the way, how do failing banks like Citi and BOA buy other failing companies. How is that allowed, approved or whatever?

    The above feelings go for the automakers in Detroit, the insurance giants or whomever else the taxpayer dollars bail out. I also feel that in order to receive money from the government, the current board of directors for the companies and their upper management, CEOs, etc. should be terminated, fired, dismissed. Obviously, they have not managed well or things would not be in this situation.

    February 20, 2009 at 10:57 pm |
  24. Jim M

    Is it unrealistic to expect the government to modify or eliminate certain income tax provisions such as:

    Reinstitute the windfall tax on the increase of the sale value of the property compared to when it wsa purchased; possibly modified for inflation – certainly applicable to any properties remortgaged under the new programs.

    Preclude mortgage interest from being deductible – at least from refinances; and, possible being reduced over time for all of us.

    Grant an increased exemption for mortgage intereest for persons keeping their mortgages up to date.

    Institute a depreciation element for single family homes, say 2.5% over a 40 year period. Handiling it similar to commercial depreciation for income tax purposes.

    February 20, 2009 at 10:57 pm |
  25. Glen Up North

    Michelle, it should be fairly easy for someone to set up a website/blog/bulletin board where people can share their personal experiences (both bad and (hopefully) good) with banks so that people have a better feeling as to where to put their money. Who's up to the task? 😉

    February 20, 2009 at 10:57 pm |
  26. Marty

    I am against additional/higher taxes but think it would make sense to tax the gain on the sale of homes benefiting from Obama's plan when the home is sold in the future so the govt recovers the cost of the housing bailout plan.

    February 20, 2009 at 10:57 pm |
  27. Isabel, Brazil

    Poor boy going to the dentist!
    It is worthwhile to see again!

    February 20, 2009 at 10:56 pm |
  28. Mathew

    This is non Sense....Nationizing the Banks is not the answer to this
    crisis insted they should stabilize the U.S mortgage crisis and stop bleeding in the U.S financial market first without burning tax payers money; here is my proposal to fix the mortgage crisis...

    1. Fed Govt. should be investing directly into the troubled properties by buying up the land from the home owner/lender on behalf of the county and then allow county to lease that land back to the home owner on a yearly basis for a small fee; this money will go back to the lender to recapitalize lender's (bank's) balance sheet.

    2. Start negotiations to reset the price of the home according to current market condition based on neighborhood data from the county.

    3. Federal Govt. should allow county to auction future price gain of that property (50%) for the next 30 years to the public, then rest of the price gain 20 % will go to federal govt. 30% will go to the property owner,The proceed from this auction will go to the lender/Bank to offset some of bank's loss due to negotiated price reduction;

    I know this is little expesive investment from Gov. but atleast they will get yheir money back with some gain in the future...

    February 20, 2009 at 10:56 pm |
  29. Janice

    I am a single mom – raising 2 children, one currently in college. It will be difficult to separate those who are defaulting on mortgages due to overspending vs. true hardship cases. What really burns me is the thought of directing future $$ toward GM and Chrysler. There is only so much money left at the end of the month. We (the middle class) are being swallowed up by large utility companies and bailout programs for corporations who have proven to be irresponsible in the first place. Why?

    February 20, 2009 at 10:56 pm |
  30. Ken in NC

    @ marcia
    I herd the same report about sex being down in this country yesterday and I think the purchase of condoms might be going up because the sex at the stressed home is down so hubby is outsourcing the sex.

    February 20, 2009 at 10:56 pm |
  31. Esma

    What sickens me the most is how Capitalism has become a machine that rewards greed and theft, this isn't how things are supposed to be!!!

    February 20, 2009 at 10:56 pm |
  32. Heather - Spokane, WA

    I love it when the kid screams on the video, I have days when I feel like doing that

    February 20, 2009 at 10:56 pm |
  33. Michelle

    Okay this may sound like a dumb question, but
    if 61 % think paying for sex is immoral why is it
    thriving? I think some people are not being honest.

    February 20, 2009 at 10:56 pm |
  34. Delphine

    Even with all the news of bank collapse, fraud and ponzi scams, the American people are still only thinking of themselves. Its time that the psyche of the American public changes to the thinking of the "greater public good". We are all in this together. It appalls me to see the "individual" feeling of most Americans. It is just this "individual" mentality that has brought us to this point of a failing economy that has affected the global economy. American only think of themselves!

    February 20, 2009 at 10:56 pm |
  35. Bridget, TX

    We just saw on 360 two people who were in court and lost their homes because one husband died and the other an older man who appeared to do everything right and he lost his home. Is it just easier for some people to blame those who did everything right and are losing their home, than to agree we need to come together and help one another?

    February 20, 2009 at 10:56 pm |
  36. Gregg from NJ

    I'd like to see a plan to lower mortgage rates for all homeowners, including those of us not in danger of loosing our homes. This will put more money into consumers hands and provide another form of economic stimulous.

    February 20, 2009 at 10:56 pm |
  37. Melissa

    Newbie here and upset..maybe Lindsey Graham and a few others from the ridiculous right will finally cut their own throats, keep putting them out in the spotligt the people need to see and hear, so they can vote better next time.

    February 20, 2009 at 10:56 pm |
  38. Brett

    Note to the FED, in the 1800's we the taxpayer purchased Alaska for $1.00 per acre. Don't nationalize banks, nationalize the oil wells of Alaska and drill baby drill! Take the money and pay for all this spending. Our fathers $1.00 taking care of our grandchildrens debt!

    February 20, 2009 at 10:55 pm |
  39. Jasmine-Spokane,WA

    That kid who is doped up on the drugs after the dentist, reminds me of when I had my wisdom teeth pulled. As long as he was happy, which obviously he was, there shouldn't be a problem. And I don't want to get rid of that video on Myspace.....

    February 20, 2009 at 10:55 pm |
  40. Clarence

    The shot: I think CNN showed the kid after the dentist well before it became such a hit... and now you've scooped the follow up.

    February 20, 2009 at 10:55 pm |
  41. Gary

    I bought what I could afford, Not what someone who was charging me intrest told me I could afford......

    February 20, 2009 at 10:55 pm |
  42. Minou, New York City

    "Exploited" ?? PPL need to grow a sense of humor. The little tripping boy was funny!

    February 20, 2009 at 10:55 pm |
  43. Rose Ann Colorado

    Amen Gary! My Home is paid for. Could only afford a fixer upper. Paid $52,000 for it and been right here 25 years. No credit cards at all. Always have driven older vehicles. can't afford anything the car people make. Who are they building the Hummer and cadillac for? Kids are thru college and doing great. Always lived with in my means. Dont want to help any one with their $300,000 to $650,000 dollar mortgage.

    February 20, 2009 at 10:55 pm |
  44. Steve

    I was wondering how foreclosures are being sold or if they are being sold. Same with the auto industry. What are the profit margins for GM? Are all these organizations still looking to turn profits? It seems that there should be better "deals" out there.

    February 20, 2009 at 10:55 pm |
  45. Mike, Syracuse NY

    @Lynn, yes I have. His tone is much worse than FDR ever was, and FDR had it much tougher.

    February 20, 2009 at 10:55 pm |
  46. Alan

    Why is Pres Obama being criticized for being too negative by emphasizing why we needed the stimulus? Maybe he does need to lighten up some, but I wonder if the political posturing by Republicans who constantly talk down the bill is just as bad (if not worse), even to the point where Rush Limbaugh and his ilk actually want the pkg to fail. Pres Obama can't catch an even break either way these days...

    -Alan

    Orange, CA

    February 20, 2009 at 10:55 pm |
  47. Cajun Chris

    When the gov't takes over the banks they could throw loans at the wall to see if they stick , kinda like the stimulus.

    February 20, 2009 at 10:55 pm |
  48. Peter millington

    Why don't the banks raise the interest rate on savings accounts to attract cash?

    February 20, 2009 at 10:55 pm |
  49. Mary

    Anderson, two questions I would like to see covered:

    1) If Homeowner A goes before a bankruptcy judge and succeeds in getting his mortgage balance reduced, then years later sells the house at a profit, is he obligated to first repay the taxpayers for the amount of the balance reduction?

    2) My sister purchased a house responsibly 5 years ago and built equity and made all payments. Recently, she lost her job without cause, and has not been able to find a new job. Nevertheless, using savings, she has continued to make all payments. If she sells the house now, she contributes to downward pressure on the market. Also, her rent in her market would be the same as her current mortgage payment. Shouldn't she be eligible for a short term moratorium on payments, or some other help?

    February 20, 2009 at 10:55 pm |
  50. David, NY

    People are going to sex places more often is not a surprise to me since it is the key to pleasure for many men.

    February 20, 2009 at 10:54 pm |
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