gregg: pressure is mounting on italy to form a new government. this as former prime minister silvio berlusconi made an epic exit yesterday and there could be a european financial crisis. how will italy success or failure impact the u.s. economy. brenda butner anchor of bulls and bears. italy is the seventh largest economy in the world. fourth largest bond market which is critically important here. so if it were to default, what impact would that have not only on our exports but on u.s. banks that happen to hold the debt? it s a huge issue. it s not greece. greece has six times the amount of greece s debt.
verdict against the boy scouts of america this level ever. and most notoriously, the catholic church. accusations of a cover up of yet another powerful member of the catholic high ki. almost ten years ago, the boston globe broke the story of priests abusing minors. shattering the arch di cease and the faith of many americans. the institution overrode the importance of taking care of children and that s what happened here, too, and all over the country. critics say these are institutions of power, secrecy, dominated by men who circle the wagons in a crisis. we have to learn that we must come down like a ton of bricks on men who hide and ignore child sex crimes. quiet resignation, sudden retirements, that doesn t cut
the pundits declared this a two-person race between romney and perry. after last night, that s not the case. what we want is a steady, substantive rise that begins here in new hampshire is new hampshire new hampshire s very important and we can see positive very important or do or die? new hampshire is is absolutely important. we have to play very well in new hampshire in january and we intend to. jon huntsman s going to be a comeback kid because voters can trust him on the key issues of the day unlike romney and some of the other foeblgs on that stage. thank you for your time, sir. more on the republican debate and the subject no candidate seemed to want to talk about. can the united states realistically do nothing about europe s financial crisis? tuall. that way i could split my payments up into, like, little bite-size chunks. yeah, i mean you feel me right? i mean. yeah. uh, sir. ah. [ male announcer ] layaway s back for christmas in our electronics, toys, and jewe
u.s. stocks are bouncing back from yesterday as investors are hopeful european leaders are working to prevent the crisis from getting worse. you can see the dow up just over 100. s&p, nasdaq also up. meanwhile sh greece s interim government has a new prime minister. that country trying to secure $177 billion aid package. when the crisis came up last night, take a listen to what the candidates had to say. focus on the domestic economy first. there s not a lot that the united states can directly do right now. europe is able to take care of their own problems cht we don t want to bail out their banks and governments. they have the capacity to deal with that themselves. if, if you want a window into what this country s going to look like in the future, you re seeing it play out in europe.
i can t whether you re republican or democrat, nobody s going to go all in to help europe in that regard. what can we make of the markets? seemingly bouncing back today. it s bouncing back a little bit. it appears italy has moved up its budget vote to the weekend. berlusconi may resign by sunday. greece is shoring up its situation a bit. this crisis is far from over. there are a lot of details missing on how any bailout program will get funded, whether or not italy sinking further and yields rise faster. these questions are still open. the market s bouncing a little bit, also. jobless claims fell 10,000 to 395,000 claims. that s a seven-month who, so the u.s. again, whether you want to call it the best house in a bad neighborhood, still looks good on a relative basis and starting to look good on an absolute basis. best house in a bad neighborhood. ron, thank you.