This was a night we needed a drinking game for the program. Except it was no game...
Hard to believe that so much money could vaporize in a matter of a few hours...
Anderson started out, of course, with a recap of the days events: a vote that went very wrong, finger-pointing all around, politicians heading home for a holiday that the vast majority of them don't even recognize. Jessica Yellin reported on the vote; Ed Henry reported on the fallout.
Tonight's Pundit Panel was Ed Rollins, David Gergen, and Roland Martin. Although I don't think we needed pundits to tell us that our politicians are behaving like idiots these days. I do think it's a very valid point that the American people do not understand this bailout and so of course are screaming at their reps to vote against it. It sounds terrible, we have no reason to trust the government nor any of its representatives (and certainly not to want to hand over more no-oversight powers to anyone), and of course -- OF COURSE -- we want assurances that this will not be allowed to happen again.
Ali Velshi explained how this is all going to trickle down to the rest of us in very painful ways. You know, there's an email making the rounds that suggests that the 700 Billion Dollars suggested for the bailout be divided up and sent directly to everyone over 18, which would then be spent to pay down credit cards (money to the banks) or catch up mortgages (likewise) or spent on plasma TVs or whatever (boosting the economy)... I have to wonder whether it makes any sense to people who understand economics?
The 360 Bulletin was handled by Randi Kaye: Cadbury recalls chocolate made in China and possibly tainted; overseas markets ... well, you can guess; Bruce will play halftime at the SuperBowl. Seriously, I nearly clipped that Just. Because. It's. Bruce.
Suze Orman was on to tell us ... well, you can guess. Sadly, I suspect most people either are already in a position to weather this mess or will be hurting in big ways very soon. (I'm in the latter camp...*gulp*) There is light at the end of the tunnel, but it will likely be a very bumpy road for the next couple of years.
After that, it was all Palin time. Randi reported on the latest interview with Katie Couric (and Papa McCain), then Anderson and the Pundits were back to discuss that. (Hey, if Mike Huckabee can have a band...)
The Shot was another look at the Tina Fey skit this weekend... and it's just too painful to look at again. I'd be much happier if we could vote for Tina!
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Okay, I have to share some Michael Ware clips. I didn't get these done in time for my ATC post, but if you missed Roland Martin's excellent "What They Didn't Say in the Debate" program, well, here's what you missed, in two parts:
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Okay, I feel bad that there was so little fun Anderson tonight. But Suze did get a very sweet, albeit brief, smile so maybe it will make up for the lack of funness:
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24 comments:
Ali Velshi has been on consatntly it seems. I like hearing what he has to say though, beucase he seems to really know his stuff. Over a trillion dollars is an obscene amount of money to lose in one day. Something has to be done.
Sarah Palin is an idiot. Is she even capable of an intelligent thought??? She is in way over her head.
I know it wasn't mentioned on 360, but as if we don't have enough to worry about those of us in the southeast face a gas shortage crisis. You never know when a station ia going to get gas. It's ridiculous.
I was disappointed that David Gergen and Roland Martin were going the way of some pundits and making excuses for Sarah Palin's idiocy and complete lack of knowledge and understanding of critical issues. The main problem isn't that she hasn't been allowed to "be herself", but it's all about the fact that she is not qualified and has no grasp of the complexities of the duties of a VP or president. If people in her OWN party are being more vocal about her inadequacies, there's no reason pundits and reporters can't as well. Apparently during the Couric interview, Palin couldn't any other Supreme Court decision other than Roe v. Wade. It is inconceivable that there are people who still think she'd make a great VP or president. Wake up people and stop going so easy on this dangerous woman!
Palin is too stupid to realize she is too stupid.
Yikes, scary stuff!
I liked Ali's graphic, it made it way easier to understand how this affects everybody and not just Wall Street.
I loved this second SNL skit, Tina Fey is brilliant as Sarah Palin, lol.
I wonder if McCain would notice if Tina showed up one day instead of Palin...
Oh yeah, did Palin actually make a joke about Biden's age at that rally? She thinks HE's old? Does she not know how old McCain is???
Thanks for the short but sweet clip, it was a very cute smile!
Thanks Cyn!
I do not know why someone does not just come out of their 'BS closets' and tell us what is really going on in this country, we have no money, we have little to no gas, and we have leaders that do not know the difference between an ant hill and a mole on their arm. Our Country is in the tiolet and we have idots standing over ready to flush. It does not matter if its republican or democrates they have no clue and I'm starting to think do they even give a dam? This country is going to go through a horrible time that will make the great deression look like a trip to disneyland. Stay strong and keep your faith in God because God will see you through anything.
@ACanderfan there was a great letter from Gary Tuchman on the AC360 blog written to any politician who gives a “you know what" about your gas shortage yesterday morning. I was talking to my best friend who lives in North Carolina and she said it is terrible. What I find amazing is there are apparently shortages in 3 states (I think Georgia and N & S Carolina) but the rest of the country, including Texas post Ike, have no shortages. Sounds kind of fishy!
I have no idea what the effect this economic crash will have on my family but I'm also afraid we are in that latter group. I really wanted to ask Suzi a question last night but I can never get my comments posted. She keeps telling people who have less than 10 years until retirement to pull their money out of 401-K's but many companies don't allow this before age 59 1/2 without huge penalties. Also, for some of us whose children are grown, don't have children etc. the only tax breaks we get are through charitable donations and 401-K contributions. It seems to me that I am going to give the money to taxes either way. If they complete the bailout they pay for it with my taxpayer dollars. If I quit contributing and withdraw my 401K I receive a huge penalty and my tax bracket goes up so I pay for it in the form of more taxes. I would love to hear her offer some advice to people in this situation. My Econ 500 Professor was a pompous jerk who prided himself on flunking grad students…Today I find myself wishing I had worried more about listening to what he said than I did about being able to regurgitate the information in order to pass his grueling exams!
I think they ALL our Representatives need to grow up and do their jobs. It was interesting to note that the most conservative legislator in my state voted for the plan. He lost out in the primaries and won't be returning to Washington. The other two, one from each party and both up for reelection, voted no and ran for home. At the very least they could have stayed in D.C. and tried to come to some type of agreement. I can guarantee none of them celebrate the Jewish holiday!
Hi Em,
I seriously take a BIG grain of salt with any "advice" Suze Orman gives. She has little formal training in finance. She studied to be a social worker, ended up being a waitress, and when a relative loaned her $50K to start her own restaurant, she lost it all within 4 months in the stock market.
So she decided to be a stock broker. Go figure.
I can't see why Anderson continues to have her on the show. She gives generic answers that aren't helpful solutions to any specific person's problem.
Sometimes I think "flash" and "personality" matter more to CNN - that's why our buddy Mr. Cooper originally called Ms. Palin "intelligent"...notice how he hasn't used that word in the same sentence with her name recently.
I still think he's a fabulous reporter - he's just a lousy judge of who is a "BS"er and who is not.
As far as your own situation goes, Em, you are correct that if you dump your holdings entirely and cash out your 401K, you will pay a large penalty in taxes. Hubby was involved in a business where we were given ISO (incentive stock options) and the tax law was screwy at the time - you were required to pay taxes on gains on appreciation on those options, even though we were blacked out from selling them (yes, there was actually a situation where you had to pay taxes on a gain you couldn't make liquid or even realize).
Needless to say, I ended up draining my ENTIRE 401K to finance paying the taxes on those options. To add insult to injury, I had to pay MORE TAXES when I cashed out....
Thankfully, things are better now and my husband is a nice guy - he remembers how I saved HIS cute little butt and has rewarded me with a little time off....
Is it possible to rebalance your 401K into more stable investments (move stocks to money markets, etc)? Yes, you'll take a hit when you "sell" some losing investments, but at least with rebalancing, you won't get a tax hit.
If Suze Orman is seriously asking people to close their 401K's, that's downright irresponsible.
That smile for a nanosecond was almost worth tuning in. Seeing Sarah Palin - again - virtually cancelled out any benefit from AC.I will be very grateful to the economy if it would just give us our AC back!
@Julie thanks for the advice. I did actually move my 401K into the safest investment portfolio they are offering this morning. I had some money in that option yesterday and it was my one account that did not lose. The rest of my accounts lost atleast 10%. I haven't had the heart to figure out what that means in actual dollars yet :0( I sure can think of betters that money could have been used. I would rather have given it to charity. Guess I am glad we didn't let Washington talk us into putting social security in the stock market. I don't think there is anything much more I can do. Guess I will just ride it out and hope for the best. What a mess!!
The "Suze Orman answers viewers questions" piece did not fit 360, it's more of a Larry King thing (and she did do it on LK). Anderson should have spent the time covering other aspects of the economic mess or even a piece about what's going on in Iraq and/or Afghanistan.
Which brings me to ...thanks for the Michael Ware clips. Even with the crooked nose, he's a sexy guy. Michael seems like a guy who wouldn't pre-occupy himself with a cell phone or blackberry, who you could walk up to and ask if you could take him out to dinner and who wouldn't say no.
Anyplace except Outback Steakhouse.
Wow, Tina Fey is getting so much mileage out of her Sarah Palin impression. EVERYBODY is showing her SNL skits. Palin needs to watch them, with the sound on, but somehow I don't think she's get it.
Jaanza
@Em, I saw that letter. It's a great letter. I agree with you it sounds kind of fishy. It's just odd.
Cyn: You are right. I wish Tina Fey was running as well. She has far more sense.
Suze Orman talks on both sides of her mouth. What she doesn't tell every one is that she herself went "belly-up," in the late eighties. She was a broker on Wall Street! Since then she's become the spokes person for all the "little people," making
millions in the process.
What is really ironic is that she made a good deal of it on QVC, taking advantage of all those who were already in debt with their Q cards buying her various "packages" about how to "stay out of debt. Now that takes class.
Did anyone else notice that NOT ONCE did John McCain ever make eye contact with Obama, nor it seems did he even turn in his direction at all, while many many times Obama looked right at McCain to address him, trying to make eye contact.
And McCain looked like Palin's father trying to help his daughter when he went back to talk to Katie Couric.
Seems like a crotchety old man.
Where's Erica? Did she get introuble for the whole sharon osborne sex thing on friday? She just haven't been on so I'm wondering what's up?
Gasp! Did they fire Erica? Where's she been? And Anderson looked a little tired today as usual.
On the webcam tonight, Anderson stretched and yawned, and another time he slapped his hand against his forehead and then put his head down in his hand for awhile. What was all that about?
anon 7:37 PM: I get some google alerts, and some came through about the choice of the Sharon Osborne clip being totally inappropriate for a program like that and other comments not glowing, shall I say. I have no clue if anyone at CNN reads any or some of them.
for to add, anon 7:37, I don't think Erica was on on Friday night, she blogged, but I don't recall seeing her, if someone did, correct me.
My Lord, I can not believe Suzi...she kept telling people if they were close to retirement they shouldn't have money in the market and even told people two weeks ago on LKL that they Should take a loan on their 401K and pay off credit cards...I know I did not dream this as I even discussed that recommendation with my husband...Tonight she totally contradicted herself. Guess I understand why everyone is warning against her advice...talk about flip-flopping! I am more confused than ever!!
I was wondering about on the live blog tonight why they called it the 360 webcast, not Erica's, but maybe only because she is off and Randi or whoever did it.
I couldn't get on the webcam tonight. Anyone else have that issue? I couldnt' do any capping. Sorry everyone!
@5:17PM: Yes, a lot of people commented about it after their debate. It was disrespectful. It was also disrespectful for McCain to say: "Senator Obama just doesn't understand".....Biden should now get even, and say "Ms.Palin doesn't understand," and it's true, she doesn't. As Fareed Zakaria pointed out on TSR yesterday, "Palin knows the answers, she just doesn't UNDERSTAND the questions. On 360 tonite they showed Palin "studying"
in McCain's
Sedona AZ "debate camp." Gee they better give her the answers just in case the "media" throws her a curve ball.
That viewer's dog looked no more like AC than the man in the moon. A Great Dane or a Grey Hound would have been more appropriate. But it was all in fun and I really like Randi Kaye's demeanor. She knows what is suitable for presentation.
@Julie: I don't remember Anderson ever saying Palin was "intelligent,
although I could be wrong. I do remember him heaping praise upon her after the RNC teleprompter reading, as did everyone else.
But tonite, he again, through slight nuances and voice inflections, let it be known, that he certainly thinks very little of her. Even the tone of questioning in his panel discussions, bringing up the horrendous Couric interviews repeatedly, is very indicative of what he thinks.
Did anyone else notice Anderson questioning Bay? Katie had asked Palin what kind of literature or something she had read and Katie kept asking her to name a few specific ones and Palin just kept saying, "All of them". Katie finally gave up. So Anderson was asking Bay about it and she just would not quit standing up for her. She was being so adamant that Palin answered the question perfectly that I just wanted to throw something at the tv. I didn't think Bay would be like that.
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