bridge collapses. sending a tourist bus plunging into the forest below and the death toll could get higher. clock is ticking and tensions are soaring and if you want an idea how things heat are over the debt crisis, listen to this. president obama storms out of yesterday s meeting vowing he will veto any extension of the debt ceiling that is only short term. reports say he said to aeric cantor, quote, many could bring down my presidency. the august 2nd deadline is looming and pessimism is growing. a major rating agency says it will review the nation sterling bond rating for a possible downgrade. we are covering the angles of this all-important debt talk story. dan lothian at the white house with reaction to the extraordinary ratcheting up of tensions. ali velshi is giving us the bottom line on the economics. why should you care that u.s. bonds could face a brutal reality check? ali, let s start with you. a downgrade would be like seeing your personal credit score take a
investigation of rupert murdoch s media empire as the company pays a new price for its phone hacking scandal. could a massive probe now under way in britain happen here in the united states? and the obama money-maybing machine. who s behind the cash and can the republicans compete? president obama and the congressional leadership are under enormous pressure right now, about 40 minutes into their latest round of debt crisis talks. they haveless than three weeks until the deadline to raise the legal limit on the federal debt. and by all accounts, they re still very far apart. what if anything emerges from this meeting? consider the very dire warnings from the chairman of the federal reserve. ben bernanke using very strong words today, telling congress that the global financial system would be thrown into enormous disarray. that s a direct quote, if the u.s. treasury is deadbeat on its debt. ff we went so far as to default on the debt, it would be a major crisis. the treasur