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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. Carrie Bradshaw

    Time to appoint a Banking Czar, right Mr. Gergen?

    February 20, 2009 at 10:14 pm |
  2. Miranda

    Team.

    Blogger's.

    Anderson.

    Happy Friday...Okay people let's make this look good and as always like I say let's do it with style.

    I like how all the mayors are really happy about the money, they are like gimme...acting like the money has not cost the constituents a lot whom umm they say they are getting it for lets play the game of let's see if we actually get any okay.Great...just a sign of the times again.

    Miranda

    February 20, 2009 at 10:14 pm |
  3. Martin

    Why doesn't CNN report that B of America just made its first TARP dividend payment to the US Government to the tuen of $402 million on Wednesday?

    That BofA has extended more than $45 billion in new credit during 4th Q in mortgages, 7 billion in commercial real estate and 5 billion in home equity.

    Why not mention that instead of talking about nationalization???

    February 20, 2009 at 10:14 pm |
  4. Lori from IL

    My question for Clark - I know it's hindsight - but if the govt had created a "bad bank" last fall when this economic crisis started, couldn't we have avoided a lot of the problems we are now facing?

    My brother and I discussed this at the time - kind of like the S&L issues in the 80's.

    February 20, 2009 at 10:14 pm |
  5. David Gergen

    Hello everyone - thanks for joining in tonight. Please tell us more about your views of nationalizing some of our key, big banks. I do not pretend to be an expert but I can tell you that from talking to a variety of heavy hitting economists, we ought to see it as a very last resort - and in the meantime, need to try some other alternatives... fast!

    February 20, 2009 at 10:14 pm |
  6. Dodie from Irvine, CA

    @Maureen, Georgia

    Yes, I completely agree. Just look around the world and watch what other countries are doing. Several countries are nationalizing some banks. I think it will help. Nothing is a guarantee... but it must be better than what we are doing by giving billions of dollars and nothing!

    February 20, 2009 at 10:14 pm |
  7. Daniel

    Hey Anderson,

    Though there is reasonable fear within the nationalization of the banks, like you said, it's uncharted waters, but at the same time, people are unsure if the government can run it better than the former management. And I say take the lesser of two evils people who are elected and committed to fixing this problem vs. people who've let this mess go under their nose.

    February 20, 2009 at 10:14 pm |
  8. Patrizia

    Why can't we have federal banks and private banks?
    Why people can not choose what kind of bank we want to work?
    Why keep rewarding failure?

    February 20, 2009 at 10:14 pm |
  9. Mike, Syracuse NY

    Depositors are protected, at least up to $200,000. Why should stockholders get a bailout? No one bailed out my 401K.

    February 20, 2009 at 10:14 pm |
  10. Maureen, Georgia

    Anybody that wants Pres. Obama to fail wants the country to fail & that means we are all doomed, so everyone needs to start supporting the president because he is working his heart out for us.

    February 20, 2009 at 10:13 pm |
  11. Bryan

    I agree, with the commentary regarding bank bailouts. I hold Bank Of America stock. It is a risk I accepted when purchasing the stock – it may go up or down. I don't expect my neighbor to bail me out. If they go under, they go under. I'd love to speak my mind to their CEO before they do go under! How about making him refund American tax payers his last 10 years of salary!!!

    February 20, 2009 at 10:13 pm |
  12. Geoff

    Anderson,

    These banks should be allowed to fail. Exactly in the way your guest described!

    February 20, 2009 at 10:13 pm |
  13. Mave

    Good Evening Anderson and Erica...sure could use a little good news today. Hope you have something a little light-hearted later in the program to move us into the weekend...of course we always have Sunday with Jack to look forward to!

    February 20, 2009 at 10:13 pm |
  14. Shillie, Sioux Falls, SD

    David Gergen, I don't think there's been one time where I've disagreed with you. Nationalization is a scary thought and should definitely be the the last thing we do.

    Wow, how the recession has affected people's sex lives.. clearly hasn't affected my neighbors from what I had to hear last night when trying to fall asleep, awkward!

    February 20, 2009 at 10:13 pm |
  15. Matthew Perry

    The Administration and the Federal Reserve are trying to prevent a market crash. We have to let the system flush itself out without government interference!

    February 20, 2009 at 10:13 pm |
  16. Sabrina

    Jasmine- I agree, honesty is the key, we have been given half truths for years now. I applaud President Obama for getting rid of all of Bush's budget gimmicks he used to hide the real deficit (Iraq war). Next week when they reveal the deficit it will be scary but at least Americans know where we stand.

    February 20, 2009 at 10:13 pm |
  17. Carl Scott

    Why not try this? People can refinance to a lower 30 year fixed rate, say 4%. The mortgage company will also reduce your balance to today’s real estate values. If you sign up for this program you will split any house appreciation with the mortgage company.

    This immediately helps put more cash in homeowner’s pockets. This helps stop foreclosures. This gives the banks an incentive to work with the borrower.

    This does not cost the taxpayer one dime!

    Why don’t we try this?

    February 20, 2009 at 10:13 pm |
  18. Jasmine-Spokane,WA

    We need to stop bailing people out in America. Honestly, I wish we could destroy the banking system and start from scratch, but that is impossible.....:(

    February 20, 2009 at 10:13 pm |
  19. Heather - Spokane, WA

    Hello Anderson and everyone. I am so tired of seeing banks fail because they are throwing all of our money around and not caring about the consequences. The banks that have borrowed money need to pay the money back and start being more responsible. I work very hard for my money ( I am a full time college student and full time worker) and I want it to go to what I need it to go to and where it needs to go to help out people who really need it.

    February 20, 2009 at 10:13 pm |
  20. Dulcie - Denver

    Re: Economy depression leading to bedroom 'depression'.

    Heh, no wonder I'm having trouble scaring up a date to go see a friend's band tonight.

    February 20, 2009 at 10:13 pm |
  21. Craig McIntosh

    Hey Anderson !

    I agree ... the Financial institutions should be rolled up into the Depart of Banks and run by the Team of Financial Advisors.

    Craig
    Santa Clara, Ca

    February 20, 2009 at 10:13 pm |
  22. angela

    how about Nationalizing the banks, and if they play by the rules and do the right thing they can earn points. If they earn enough points they can earn their freedom back. essentially all their dishonest practices have sent the message that they need to be watched or they are going to be bad, like little babies.

    February 20, 2009 at 10:13 pm |
  23. Linda

    Holy Cow Anderson,
    I'm excited in a bad way, and tomorrow I am moving my money out of B of A and deposit it into WaMu.
    Jamie Dimon is the only guy I trust anymore.

    February 20, 2009 at 10:13 pm |
  24. Brian Allen

    Anybody think of looking at what has been touted as the "most secure banking system in the world" – Canada – which is a nationalized system...???

    February 20, 2009 at 10:13 pm |
  25. CaseyJ - Novato, CA

    I just got a notice this week that BofA is participating a non-mandatory reorganization or tender offer (another educational hoop to for me to go through) which will take place sometime in the next six months.

    Maybe someone at 360 could tell me what this means?

    February 20, 2009 at 10:13 pm |
  26. Lauren--NY

    Those of you talking about stuffing your mattresses...I hear you. It's more tempting by the day.

    February 20, 2009 at 10:13 pm |
  27. Abayomi, Florida

    Good Evening all...Maybe we can have better TRUST in the Government to take care of the Money...than the GREED that lead us this far.

    This Program just started, from this past years of calamity, and just gross misuse of Power, why all these Financial Agencies are in a pickle from the lack of Regulation. All just getting Rich, forgetting the common Man that put them there.

    What is with all the RANT, when Wall Street started this Problem too. From the Monies of these common People...that is what built Wall Street. Thanks.

    February 20, 2009 at 10:13 pm |
  28. Rekha Prem

    Hey Anderson, Erica, and all at Ac360! Great Show and lots of info. I watch you guys nearly everyday. Anderson and the show are liked by a lot of people outside the US. I see that the show is being advertised more nowadays on CNN international. Even before all the ads your show was a big hit with a lot of us outside America and i have been watching this show and your reporting for a quite a number of years now. Anyway great show and keep up the great work!!!!!!

    February 20, 2009 at 10:12 pm |
  29. Brandon

    I think it would be good to nationalize the banks...up until now private banks have been in charge, we now have a chance to make things right...remember it does not matter who makes the laws, only who controls the money, and right now that is private banks.

    February 20, 2009 at 10:12 pm |
  30. anderson cooper

    casey – thanks for delaying the dinner so you could blog with us... hope your guests arent angry

    February 20, 2009 at 10:12 pm |
  31. Bethany-MI

    Whoa-what? Now taxpayers have to pay to know what exactly is going on in their government...transparency plan is going to cost us? I find that a little disturbing.

    February 20, 2009 at 10:12 pm |
  32. Sydney Greene Charlotte,NC

    Good Evening Anderson, Erica and fellow bloggers!!

    February 20, 2009 at 10:12 pm |
  33. Dodie from Irvine, CA

    @Isabel, Brazil

    Check out China. They have one National bank... bank of China. The rest of the banks are private like Citi Bank which is in Beijing and Shanghai. Bank of China dropped the interest rate for everyone from 7 to 3%, no re-finance charges, and I believe they will pull out faster than we wil because of this.

    February 20, 2009 at 10:12 pm |
  34. vanessa from silver spring, MD

    I think David Gergen is right that Nationalization of the banks should be the last resort, but seriously something has to be done.

    February 20, 2009 at 10:12 pm |
  35. Christina Glendale, AZ

    What about temp. nationalizing the banks, get them restructured, place guidelines so the same mistakes are not being made then turn the banks back over?

    February 20, 2009 at 10:12 pm |
  36. Brandi - bottom of the boot

    sex depression too? hmmm...i hadnt noticed that one, mine has actually improved! lol

    February 20, 2009 at 10:12 pm |
  37. Eric walker, Miami fl

    When I lived in Atlanta I listened to Clark Howard everyday. Finally someone that speaks from a common mans perspective

    February 20, 2009 at 10:12 pm |
  38. anderson cooper

    welcome everyone... 14th bank failure of this year... scary stuff

    February 20, 2009 at 10:11 pm |
  39. Gloria, Brooklyn, NY

    Hello everyone!

    February 20, 2009 at 10:11 pm |
  40. Jasmine-Spokane,WA

    Sex lives are suffering? that would be the one thing that shouldn't go down in a recession. Inuendo not intended......but usually, that's free!

    February 20, 2009 at 10:11 pm |
  41. Maureen T, Canada

    Good evening dear Anderson! TGIF! Yeehaw!

    February 20, 2009 at 10:11 pm |
  42. Amy

    no webcast again? =C

    February 20, 2009 at 10:11 pm |
  43. Bea

    Anderson, re your story on sex and the economy, you're not going to play that porn music again are you? What is it with you honey?

    February 20, 2009 at 10:11 pm |
  44. Stacy

    I don't care about the pundits or politicians. What is the general consensus among economists regarding nationalizing the banks?

    February 20, 2009 at 10:11 pm |
  45. Greg, Austin Tx

    Great to see Clark on. The man is a financial wizard. Nationalization is scary but some of the arguments for it make sense if it comes to "last resort time". Heaven help us if last resort time comes.

    February 20, 2009 at 10:10 pm |
  46. Melinda

    Absolutely no bail out for Bank of America. Greedy and under-handed tactics. I know first hand and I am so very tired of them...

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

    Not so Happy good evening Anderson, Erica, Randi, Joe Johns, and David G. and all Bloogers.

    The banks are heading south with all the money paid out in bonuses.

    February 20, 2009 at 10:10 pm |
  48. Maren in Oregon

    Nationalization of the banks might not be all that bad. We have to have someplace to put our money, process our checks, give us free Internet banking. The FDIC can’t take over all the banks in the country. We are about to become the United States of China!

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

    If we nationalize banks, what's next? The auto industry? Pretty soon we WILL be a socialist coutry.

    February 20, 2009 at 10:10 pm |
  50. Kathy, Chicago

    SO thinks that they are threatning Nationalization to scare the banks into getting their acts together.

    February 20, 2009 at 10:09 pm |
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