development of alternative fuels. his warning to arab oil producer comes amid a chilling prediction. goldman sachs says gas will reach $5 a gallon this summer. and remembering the sacrifice s at arlington nationl cemetery. this morning, president obama takes part in ceremonies there, including a wreath-laying ceremony at the tomb of the unknowns. let s talk politics now. presidential candidates, those who have declared, and those likely to, are reaching out to voters on this memorial day. oh, yeah, sarah palin is using the holiday to kick off her nationwide bus tour. she rode into washington sunday on the back of a motorcycle for the annual rolling thunder event. after a couple of stops in d.c. today, palin s one nation tour heads to gettysburg, pennsylvania. that s where our jim acosta is. jim, tell us more. good morning, carol, that s right. sarah palin will be out here later today, so we re told, and this is all part of a campaign-style swing up the east coast. she s
news. back here in the u.s., one thing the prompted our economic downturn was the housing market crash. now there is some relief. it s in danger it s for people in danger of losing their homes. correspondent claudia cowen reports not everyone thinks it s a fair deal for those who play by the rules. thousands of struggling homeowners waiting in line overnight in hopes to hold on to the american dream. if i did notification today, give me security knowing that me, my husband and five kids have a home. after meeting with lenders, scores of people lower the mortgage payment and give funding to napca. people can come here in the same day and restructure mortgages and saving $500 to $1,000 a month. my monthly payment were $1888 per month and down now to, i have to keep looking at it because i can t believe it.
news. back here in the u.s., one thing the prompted our economic downturn was the housing market crash. now there is some relief. it s in danger it s for people in danger of losing their homes. correspondent claudia cowen reports not everyone thinks it s a fair deal for those who play by the rules. thousands of struggling homeowners waiting in line overnight in hopes to hold on to the american dream. if i did notification today, give me security knowing that me, my husband and five kids have a home. after meeting with lenders, scores of people lower the mortgage payment and give funding to napca. people can come here in the same day and restructure mortgages and saving $500 to $1,000 a month. my monthly payment were $1888 per month and down now to, i have to keep looking at it because i can t believe it.
breaking news, but lisa sylvester is monitoring some of the other top stories in the situation room. what else is going on, lisa? well, wolf, major changes are ahead for the financial system. the senate passed a financial reform bill, 60 to 39 aiming to crackdown on wall street in order to head off another financial meltdown and to beef up consumer protection. president obama says that consumers will never again be asked to pay for wall street s mistakes, but republicans say that the legislation is too heavy-handed in some areas. the president is expected to sign the bill into law next week. and now for the largest fine that the s.e.c. has ever slapped on a wall street firm. goldman sachs has agreed to pay $550 million for defrauding investors in the sale of securities tied to the subprime mortgages and the housing market crash of 2007. shares of the company jumped though about 3% on the news na goldman sidestepped a larger $1
of the extenders bill will add to the federal deficit. we know from the senator remarks on the floor in the last hour it will be a figure higher than zero. also given the mechanics if not the vote count around here, it s looking unlikely that we will see a decisive vote on the new version of the extender s bill before the week is out. bret: james rosen live on capitol hill. thank you. home construction plunged last month off 10% to a five-month low. industrial production rose 1.2% in may. wholesale prices fell by .3 of percentage point fuelled by bigdy kline in energy cost decline in energy cost. mixed day on wall street government sponsored mortgage giant fannie mae and freddie mac have been ordered to delist their shares from the new york stock exchange. the shares have been taking a beating since the housing market crash. federal grand jury indicted the head of what used to be one of the country s largest