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February 27th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/27/09

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Filed under: Live Blog • T1
soundoff (550 Responses)
  1. Bea

    What will we learn from this period? Will America be using credit again like crazy in ten years? The boomer generation went nuts.

    February 27, 2009 at 10:32 pm |
  2. Dan

    What is that guy doing charging a bottle of water on his credit card. Why can't he simply drink a glass of water? That is free! Many of these people are their own worst enemies.

    February 27, 2009 at 10:32 pm |
  3. Isabel, Brazil

    Look at the excuse to be unfaithful! lol

    February 27, 2009 at 10:31 pm |
  4. Fay - California

    Sean, Iraq – thank you for serving this country and blogging to give us a first-hand account and view of what's happening in Iraq.

    February 27, 2009 at 10:31 pm |
  5. Andrea, TN

    Ms. Obama is defining her -own- style. She is stunning, and yes, it is different that past First Ladies, but "shocking"? That's what I call overreacting. Bare arms aren't the end of the world, esp. if you're as in good shape as Michelle.

    You know what I think, though? With the exception of her ball dresses, nearly everything she wears is what your average well put together successful middle class woman wears. I think it's nice to see that instead of some distant figure in a pastel pantsuit or blazer/dress combo.

    February 27, 2009 at 10:31 pm |
  6. Keith-LA

    I agree with Emma about Jindal. His rhetoric was not all there, but he is 37, and he followed Obama. Obama has some of the most impressive speaking skills America has seen recently.

    February 27, 2009 at 10:31 pm |
  7. Michelle D . Fonthill. Ont

    My heart goes out to all who are suffering with job losss and people who have no idea what to do next career wise .

    February 27, 2009 at 10:31 pm |
  8. Miranda

    My heart goes out to the 23 year old man,that was hard to see that amount despondency in finding just one penny, I wish him well and pray that he can get a job.

    Miranda

    February 27, 2009 at 10:31 pm |
  9. EJ (USA)

    I was on the way to paying down my credit card debt until I lost my job. So I can't worry about it right now.

    February 27, 2009 at 10:31 pm |
  10. Jan

    All this spending must stop! We're being robbed! I thought Obama was going to help the nation, but he's done more to hurt our nation in his first 100 days than is believable! It must stop!

    February 27, 2009 at 10:31 pm |
  11. Stacy

    @Fay: Yes, the gap between the rich and the poor has been growing for decades. The middle class has been getting squeezed into nonexistence.

    February 27, 2009 at 10:30 pm |
  12. Amanda Walton Fort Erie, Ontario

    It's so depressing hearing day after day thousands of more layoffs, it's so depressing seeing the ireports of the real people telling their stories, hearing it in thier voice seeing it in their eyes.

    I am grateful everyday for what I have, I'm fearful everyday what's to come

    February 27, 2009 at 10:30 pm |
  13. tom L

    Ali, Anderson, Erica – I am 33 years old, my 401K is literally going down every day. I am trying to maximize it in the first quarter in the hopes that the market will recover. Am I doing the right thing?

    February 27, 2009 at 10:30 pm |
  14. Lori from IL

    @ Sean in Iraq - Thanks for joining the blog - appreciate your perspective. I have a good friend who has served in Iraq and he is very proud of the progess made. Thanks for all you do - serving our country and protecting our freedom - Godspeed, Sean.

    February 27, 2009 at 10:30 pm |
  15. Brandi - bottom of the boot

    hello erica!

    ready for the weekend???

    February 27, 2009 at 10:30 pm |
  16. Larry Dishong

    Why can’t we just cut the mortgage rate for everyone to 4.5%, reduce principle for everyone by 10 – 15%. Several benefits... for both on-time payers as well as those in danger of foreclosure. This allows banks to continue to make money, defaults would decline, the ‘good’ payers would be rewarded as well as the ‘bad’ payers get a chance and everyone gets a tangible, meaningful improvement that will directly improve consumer confidence…. all of this without a bailout dime.

    February 27, 2009 at 10:30 pm |
  17. Esma

    @ Sean, thank you for all you've done for the US and Iraq! Hugs!

    February 27, 2009 at 10:30 pm |
  18. Lauren--NY

    Happy Friday, Erica; great to speak to you.

    February 27, 2009 at 10:30 pm |
  19. Barbara in Boston

    I couldn't believe Gov Jindal mocked volcano monitoring, as if his state is immune to natural disasters. Maybe if Congress had "wasted money" years ago looking into forecaster's predictions of levee failure, thousands of people might still be alive.

    February 27, 2009 at 10:30 pm |
  20. Sharon S

    well I would think if your going to cheat the backseat in a park would be more fun anyway! LOL

    Can't even afford to cheat anymore this country has really gotten pathetic!

    February 27, 2009 at 10:30 pm |
  21. Rikki, Fargo, ND

    Anderson, the trade off to having a relatively good economy here....its FREEZING!

    February 27, 2009 at 10:30 pm |
  22. gill - north of 49

    Unfortunately the 20 something generation who grew up learning to use credit as cashflow are going to be hit HARD with the predatory practices of the Credit Card Companies... a harsh way to learn about living within your means for a generation where credit=cash.

    February 27, 2009 at 10:30 pm |
  23. Emma

    God, that i-report was sad. I agree with Gerri and Ali. Perhaps people who can't find jobs should move.......sometimes you have to do whatever it takes.

    February 27, 2009 at 10:30 pm |
  24. starr formerly known as vincent

    @sean the soldier in Iraq...good to see you on the blog and appreciate your info. hopefully Pres. Obama's withdrawal plan will work for Iraq and get many of you guys back home.

    Thank god for the guy who brought up Capital One!!! I had the same deal and just got the same notice, an oh, by the way, the interest rate is "variable" now. We Need Help From These Banks!

    February 27, 2009 at 10:30 pm |
  25. Vanessa, TX

    My job is hiring..i work for an electric co...I think all utilities might be hiring

    wow..backseat cheating..what a concept..lol ..isn't that the old school way?

    February 27, 2009 at 10:29 pm |
  26. Michelle D . Fonthill. Ont

    The banks re going belly up where is safe to keep money fyou can't trust the banks

    February 27, 2009 at 10:29 pm |
  27. Stacy

    @Mike: The end of 2011, unless I'm mistaken.

    February 27, 2009 at 10:29 pm |
  28. Maren in Oregon

    There really is an answer to the personal economies in this macro-economic meltdown: Stop spending money like you had any! Keep a diary of all you spend – carry it around, write in in all day; save the receipts.

    Two weeks later, add it all up, categorize everything into two columns: Must have to actuall live – food, transportation, shelter, medical care if y ou need it, a little clothing now and then. In the other list, put everything else.

    Throw the second list away – you're done.

    Cut the first list by not less than 25% – no eating out before you've paid bills you must, and then only one or two times per month. No fast food.

    Transportation is rough if y ou must drive to work. REally really look into car pooling – start one yourself by canvassing your building and surrounding buildings.

    You will be sooo much better off in such a short time.

    February 27, 2009 at 10:29 pm |
  29. Jo Ann, North Royalton, Ohio

    As an artist, I can't wait to see this "portrait."

    February 27, 2009 at 10:29 pm |
  30. Jasmine-Spokane,WA

    Jindal's problem was that he was trying to convey a friendly factor with the democrats. Someone probably walked up to him and had him talk in that....creepy fashion. He probably got too caught up in that and started line flubbing.

    I'm NOT covering for this man's mistakes...

    February 27, 2009 at 10:29 pm |
  31. David, Indiana

    Hi Isabel.

    Not a word Erica

    If Obama's stimulus plan works, then we'll all win.

    Ali, I hope this is the bottom. One thing I can say is that the downturns have been more steady. Does seem like the market is more solid and still can rally.

    February 27, 2009 at 10:29 pm |
  32. Keith-LA

    Should we then drop our CCs, or not? I am in my 20s, I want to buy a house in the near future? Is dropping my only card worth it? Or, should we only ride this out?

    February 27, 2009 at 10:28 pm |
  33. Megan Dresslar - Shoreline, WA

    Sean, IRAQ
    Welcome to AC360 live blog tonight!!!! enjoy join blog tonight!!! 🙂
    I like to thank you for your service in our country!!

    February 27, 2009 at 10:28 pm |
  34. Pati Mc

    @ Erica – Happy Friday to you too! You are my hero, btw. 🙂

    February 27, 2009 at 10:28 pm |
  35. Sean, IRAQ

    50,000 troops is a great deal... but ask this how many are still in Koera? Germany? and any of the other 130 countries we have American Soldiers in? The 50,000 is to control the madness and ensure that when we leave this country we do not leave it like we did Vietnam. We are learning from our past, it maybe slow, and but a step in the right direction is important.

    February 27, 2009 at 10:28 pm |
  36. vanessa from silver spring, MD

    Happy Friday to you Erica. I agree with that ireporter. I'm a college student who can't find a job, the only thing is i don't have a credit card to charge anything too.

    February 27, 2009 at 10:28 pm |
  37. Dodie from Irvine, CA

    I cut up my credit cards years ago and have been happy ever since. My philosophy is... if I can not afford it, don't buy it. Except for now for those out of work... my heart goes out to you!

    February 27, 2009 at 10:28 pm |
  38. Sharon S

    So what do they expect people to do if they have no more money, they lost their job?

    This is the saddest story!

    February 27, 2009 at 10:28 pm |
  39. Heather

    I'm sick of hearing Republicans in front of the press calling their President a Socialist. We know how far that "socialist" name-calling got McCain. So many Americans just don't get it. They can't see that their way of life is changing. It's about time the rich pay more to fix the mess they created!

    February 27, 2009 at 10:27 pm |
  40. Barbara in Boston

    I agree with Andrea, we have a responsibility to Iraqis not to abandon them - or continue to impose on them. Nothing about Iraq is simple. I oppose the war there, but we can't leave without careful planning.

    February 27, 2009 at 10:27 pm |
  41. Bea

    If a credit card company wants to raise your rate, that tells you they are in the driver's seat. You have to be in a postiion to tell them to take a hike. I have gotten lots of reductions in fees and interest rates that way.

    February 27, 2009 at 10:27 pm |
  42. Jo Ann, North Royalton, Ohio

    The government needs to crack down on the credit card companies. They are the biggest crooks of all!

    February 27, 2009 at 10:27 pm |
  43. Michelle D . Fonthill. Ont

    Michelle obama is the Presidents rock she is down to earth and class all the way
    Happy too see you blog tonight Erica !
    Hello from Michelle D.

    February 27, 2009 at 10:27 pm |
  44. Chris Sosa - Boston, MA

    Brandi – Yes, nervous and weasel-y. There wasn't a shred of honesty on that man's face. Hoping he was just having an off day, but my inclination is otherwise...

    February 27, 2009 at 10:27 pm |
  45. lynn

    Mike in NY: The end date is the end of 2011...actually it is 147 000 troops.

    February 27, 2009 at 10:27 pm |
  46. EJ (USA)

    Hi Sean in Iraq! Thanks for the information you provided us.

    February 27, 2009 at 10:27 pm |
  47. James

    Do you suggest someone laid off to pull money off their 401k or wait it out with the hope of getting a job soon?

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

    Hello, Erica!
    I'm happy to see you!

    February 27, 2009 at 10:27 pm |
  49. Emma

    About Jindal, I think we should cut him some slack.....P. Obama is a hard act to follow.

    February 27, 2009 at 10:26 pm |
  50. Scott

    The source of the problem is the Federal Reserve, Can someone tell me how printing MORE DEBT can solve the debt problem? The Federal Reserve is a Private bank. There is nothing Federal about it and it has no reserves. The solution is simple only congress is allowed to coin money.....but it's obvious noone cares about the Constitution.

    February 27, 2009 at 10:26 pm |
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