in the country this year. it spread overseas, rumors about it all day didn t happen until after the closing bell. there s the dow, down 2%. the big bank downgrades, including the biggest banks in europe, moody s saying that anybody with a lot of exposure to the credit markets, they were going to downgrade them. the banks one by one saying they disagree with the downgrades and some of the stocks are moving up a little bit. that s the bank part of it. banks are what pumps the oxygen through the financial system. when you have people worried talking about a slowing global economy, it caused all kinds of concerns. we re concerned about slowing numbers from china, from europe, from germany in particular. we had all kinds of macro economic data that was starting to show what many people feared that the global economy is slowing down. that means american factories are selling fewer things and american business owners are not hiring people because they are worried about the global sl
the party in south beach. guaranteed it is still going on this morning. he said it s the best day of his life. i wouldn t doubt it. hi, everybody, nice to have you with us this morning. welcome to early start. it s 5:00 a.m. in the east, good morning, everybody. it may be a good morning, it may not be such a good morning, depending how you look at things. the markets are down worldwide this morning after the ratings agency moody s downgraded 15 of the world s largest banks and guess who happens to be sitting in this morning. the woman who knows everything there is to know about this. can you boil this down and let us know what it means for us? it means that your stock investments got hit yesterday and the global economy is slowing and we re seeing the ramifications of that around the world. 15 of the biggest banks in the world, including five of the largest u.s. banks were downgraded by moody s. bank of america, citigroup, goldman sachs, jpmorgan stanley. and hsbc
we start on the campaign trail and president obama s full-court press to win latino voters who could be the key to winning re-election. so exactly a week after he announced the u.s. would stop deporting some illegal immigrants brought here as children, he spoke to one of the country s biggest hispanic conventions. we should have passed the d.r.e.a.m. act a long time ago. it was written by members of both parties. when it came up for a vote a year and a half ago, republicans in congress blocked it. the bill hadn t changed. the need hadn t changed. the only thing that had changed was politics. mitt romney had his turn. president obama has not made them a priority. after 3 1/2 years of putting every issue from loan guarantees to his donors to cash for clunkers, putting all those things before immigration, now the president has been seized by an overwhelming need to do what he could have done on day one, but didn t. i think you deserve better. chief white house correspond
congress intervenes. meanwhile, breaking news in the jerry sandusky trial. as we enter day eight of the trial the future of the former penn state assistant football coach is now in the hands of the jurors. kate snow has an exclusive interview with one of sandusky s accusers. travis weaver is the first alleged victim to come forward and tell his story on tv. weaver has testified in front of a grand jury. he was not called as a witness in the current trial. he s suing sandusky and penn state university. here s his words. if jerry sandusky were sitting right here i d punch him in his mouth. would you say anything first? no, there d be no reason to say anything. he knows what he did. i know what he did. reporter: travis weaver says jerry sandusky sexually abused him more than 100 times over a period of 4 years. starting in 1992 when he was just 10 years old. he says he thought he was the only boy it happened to. until he saw sandusky on the
of the program. and it is the question that makes or breaks presidents who are running for re-election. are you better off now than you were four years ago? we ve got surprising new poll numbers that are sure to make the white house smile if you believe them. plus, mitt romney now says marco rubio is being vetted to be his running mate. but was romney forced to say that after being caught flat-footed on the campaign trail? and the jerry sandusky trial. defense rests without calling sandusky himself to the witness stand. finally, mitt romney s dancing horse is the inspiration for some horse play by stephen colbert. more of that in the sideshow. we begin with president obama invoking executive privilege against house republicans. pete williams, of course, is nbc s justice correspondent. executive privilege puts the president squarely in the middle of fast and furious or was he already there?