Live Blog from the Anchor Desk 2/20/09
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By all means the banks should be taken over by the Feds. We are using our tax monies to subsidize "white collar thieves", which are no better than the scum that rob a 7-11. They just wear better clothes. Corruption in the corporate world is rampant just like the drugs coming into this country via Mexico. Remember the old rule of supply and demand. The American use of illegal drugs is the cause of this illegal supply. Put our American military troops on this Mexican border to save ourselves from ourselves. The same we have to do with the banks.
My link isn't working. Right now there talking about the death of the Utah Jazz owner:( Aww, so sad he pasted away.
I like that the President is keeping it straight with the American people. I'd rather have him say what's really going on than not talking about it at all because he doesn't want us to get upset. President Obama makes me feel confident because he exudes confidence. Him talking down the economy isn't making the stocks fall, the stocks have been falling for months. I do expect him to come out next week with lighter talk though.
Try this Cnn you can be the leader with bailing us out of this recession by getting the American people involve and building confidence. It doesn't matter what is said by anyone in the capitol or the President that is always fault to be found. Try positive approach, I think you will be surprise how well that works if you really want to keep America working. They are beginning to cut out sport programs for the middle school kids because of the economy. This is getting really ridiculous. It is time for adults to grow up and become leaders. The future of our children depends on our actions right now.
Just among friends here. Yea. No action in our bedroom being that my husband moved to La Paz, MX when he finally found a job last year. I haven’t seen him since 01/03/09 (Won’t see him until mid April when taxes are due.) And who’s going to be “doing it” then. Why do you think I’ve been blogging on CNN day and night…Nothing better to do. ~ L.C.
Canada has nationalized banks, and the oversights have kept them straight and narrow. Not to say that they don't have problems, but there is definitely better checks and balances.
Hi
we have been telling the governments around the world, for the past 30 years, to nationalize the banks in such crisis. so, it is time to take the medicine we prescribed to others.
further, any country that just prints its currency but let a private consortium (federal reserve) to manage/regulate it, is doomed to fail. US is no exception to this. time for people to make informed decisions or pay for the consequences of ignorance.
David Gergen. Reagan was horrible for African Americans of any economic situation and for the middle class and poor. I can't believe you said he was successful. He bulldozed people and began the partisanship that still remains with us today. Folks are still suffering today. History has been revised in his favor. I was there.
At this point, how can citizens know who to trust and who to believe? It appears as if there will be transparency but only after our money is spent? How can this instill any confidence for us, whose money has already been squandered?
finally we have somebody speaking with urgency instead of lukewarm assurances. if we are at the point where markets are determined by the tone of one mans voice then we have bigger problems than we realized. didnt we just get done with 8 years of "stay the course", Obama is just faced with getting us back on track and that requires fortitude.
We are in a big hole and it will take time to get out of it...but we will get out of it. Economies, like businesses, are cyclical...the go up and down. Sometimes the hills and valleys are bigger and because this isn't just a US recession it is a global recession it will take a bit longer to get out. But we will come back from this. One of the big problems is that consumer confidence is almost non-existent so nobody is spending...which is the number one driver of the economy.
Obama may be giving a clear picture of the train wreck... but even too much coverage of bad news can lead to the depression that people actually begin to feel from the gloom and doom... I think Clinton was right is speaking to the prospects.
I think it is good the president is telling us the economy is bad. I mean it is a tough balancing act I would rather hear this truth that what President Bush did. It took his administration almost a year to even tell the American people we are in a recession.
President Obama has been in office for less than 2 months, I believe he's accomplished a lot more in less time than the previous President.
The "backloading" of the stimulus web site could be corrected by requiring that proposed uses be listed on the site for, say, 10 or 14 days before anything can be fixed in stone and become an actual, funded project. If a sufficiently large percentage of unique registered individuals vote on the web site against a project, a review should be required before it can be approved.
President Obama always ends his speeches and talks with a statement stating we are going to get through this, funny how CNN left those words out.
Hwy Lia, FL
I agree ... time to REGULATE the CREDIT CARD companies !
It's sad to see banks fail but in my part of the country, south Texas, I see new banks being built, new houses being built and new cars being bought everyday.
The phrase "homeowners" should possibly be changed to " bank lesees!
This is not only the resposibility of the banks – adults have responsibilities too and should realize this.
Evening Anderson, Erica, David, 360 Team, and Bloggers!
What an eventful day in the news! All this talk about republican governors and mayors refusing stimulus money is so unfair to the people of their communities and so political. But I have a question...what if a governor of a state refuses stimulus money for their state but a mayor of a city in that state would like to have some of that money to benefit their community? Would that mayor be able to somehow bypass the governor's decision in order to get some of the money for their community?
I'd rather have my president acknowledge reality than appear clueless.
we are being hypocritical about outcry against mortgage bailout (by CNBC's Santelli) and arguments for helping zombie banks. Both groups have taken risks and while the bankers should have known better many of the mortgage defaults may be due to other factors such as loosing jogs etc
All I have been hearing is bailing out home forclosure. My husband is being laid from one of the major steel producing companies in the united states. What is the government going to do to help families keep their homes and feed their families?
I prefer to hear the truth about the current state of the economy from the President.
Love Love Love that you brought Clark Howard on to comment on the economy, finances, et al. He is simply put, "brilliant". I have listened to him for many years and admire his sense & sensibility. Also, what a lovely complement to Mr. Gergen, whom I admire as well! Great no nonsense stuff. Many thanks.
Doom & Gloom can't be the only diet. When was the last time you tried to lose weight by eating just celery . Did it work? Was that banana split feel like . . . well, what people are apparently not having anymore?
I should learn not to watch the news and eat dinner at the same time. Nothing like upsetting my tummy.
Sue
New to AZ still hoping to sell my home in MI
If nationalizing banks is a real solution for helping to stabilize the economy, then do it.
I'd rather hear the truth than a pep talk as Bill Clinton prescribes. President Obama said he would tell the American people the truth, that's all I expect.
As far as Clinton is concerned...well...enough said!
Hi Anderson,is it possible to ask your guests why Bank ofAmerica is being criticized when the government was so adamant about them taking over Merrill Lynch? For the record,Bank of America made a profit for 2008.
A leader has to inspire, not scare.
This whole talk down the economy thing is ridiculous. People are short selling. It's as simple as that. They are missing the heydays. They know Obama isn't going to let the rich, keep getting richer. That's what's going on. They will settle down.
Anderson I think we need to give the new President a chance and the media needs to be more positive too. President Obama is just getting started. The markets are crappy because they don't have control – it will turn around. The media has a responsibility to the nation to help build confidence and not always look for the little crap items driven by those who do not want the administration to succeed.
Yes Nationalization Banks, Then the people of the banks can be working for the people and working for them selves and getting ernest pay. People who are paying in as tax payers and borrowing there own money at a deason rati and will be glad to pay into.
AC...thank you. I wouldn't miss the broadcast for the world. (It's a "date" with my high school girlfriend who I haven't seen in 30 years.) Guess I know my priorities.
Before we radically change the structure of our economy by Nationalizing banks why isn't anyone looking at altering some recent accounting rules, like mark to market which is heavily responsible for the zero asset values killing financial institutions.
Nationalize BofA & Citi.
It's the only sure way out of this mess.
It would hurt some people, but not as many for as long.
There will be a lot of corruption with the distribution of the 'Stimulus' money.
Remember Katrina money.
Re: Bank Nationalization
What are we waiting for? Let's get after it !
I miss Bill!
Anyone who's caught wasting the money for pet projects & Pres. Obama finds out they should go to jail, I realize that what they use to do but in this economic crisis that would be criminal to do so. Clinton just wants to stay in the limelight. I like that Pres. Obama is telling us the truth.
Politicians need to take queue from George Orwell. The WHOLE truth isn't always the best thing. If I knew what was in everything I ate, I probably would be starving.
Big Brother's Watching
INGSOC
No webcast? I guess the news conference on the death of the Utah Jazz owner takes precedence over floor crew Friday!LOL Maybe you guys can get the link working before the end of the show.
not for me, erica. i think i only saw the webcast once this week, actually. weird. maybe it hates me. haha.
If the banks are nationalized, what are the chances that the withdrawl
of funds will be limited to a certain amount per day?
I agree, giving out millions of dollars to state governors and legislators without very strick accountability and limits on what it can be spent on will result in those funds being spent on "pet projects" and will not accomplish it's intended purpose - boost and restore the slumping economy
Actually Republican Senator Lindsay Graham who also talked about nationalizing banks on talk shows this past weekend so it is NOT coming from one side.
President Obama is right to keep things real
for the American public. The president also
strikes an optimistic tone about what is possible,
I think telling us the truth, is a pleasant change. His comments are a wake up call. He is asking us all to take personal responsibility and to all do our part. We have some serious problems and to pretend we don't is like a camel putting his head in the sand!
I think Former President Clinton should be able to offer advice to President Obama, however, it should be done in a one on one situation or on the phone.
The last thing people need is to think the President is being told what to do by a former President.
Well Obama lightening up on the economic talk won't really matter. People can see we are in trouble without anyone talking about it.
Cindy...Ga.
Whatever happened to Obama's 'yes we can' line? Now it's 'woe is me'.
Sometimes I believe my money belongs between my matress! Okay, so I won't get any interest but I won't have to wait in line...:)