and a reminder tomorrow night at 8:00 p.m. is our debate. i ll be back tomorrow at the same time, but for now, jim costa is next. nice to see you in person. this doesn t happen very often, but nice to see you. i m jim aacosta. let s get you up to speed on this november 21st. after months of talks the congressional supercommittee is expected to announce today it simply cannot agree on a debt reduction package. everybody is pointing fingers on what caused the mess. we ll explain that on capitol hill in about ten minutes. speaking of the supercommittee, already markets are reacting badly to fears that the debt committee won t reach a deal. u.s. stocks opened sharply lower today. right now the dow is down over 300 points. this follows last week s losses on wall street, the worse in two months. former fbi director, louis freeh, will lead the internal investigation into the penn state scandal. jerry sandusky is charged with molesting eight boys, some on campus. freeh pledged a
captions by vitac www.vitac.com i m erin burnett. outfront tonight breaking news. a big day for the markets. the dow up 260 points. just shy of that. all three of the major indeseize back in positive territory for the year. it was veterans day, but way better than expected data in terms of american consumer sentiment and positive political news out of europe. that will help, greece and i italy. it s a big number. all right. it has been six days since penn state university was rocked by child rape charges involving the former assistant coach jerry sandus sandusky. the interim president spoke out today saying the university is dealing with the sifgs. here s the latest. assistant coach mike mcqueary, who first reported witnessing the sexual abuse to coach joe paterno in 2002, has been put on paid administrative leave. a special committee has been set up to investigate sexual abuse on campus. penn state will play football tomorrow as a sign of support against child abuse.
between a police officer and a man being followed for having a license plate that did not match his vehicle. the officer was not injured. police are now putting up road blocks to try to stop the gunman. we ll keep an eye on this and bring you developments as they happen. and now the deal that set off the rally. the details have stopped it. a day after stock prices soared around the world on hopes that europe had finally dealt with its debt crisis, they re back down to earth as we learn more about the breakthrough. blue chips on wall street are more or less flat. and the same goes for europe, though asia had a bit of a catch-up rally. speaking of asia, we find the head of the eu bailout fund that s set to grow to $1 trillion euros. it wasn t clear yesterday where the new cash would come from, but now it s more than clear that europe wants a big chunk from china. beijing isn t making any promises beyond ordinary trade and investments in european bonds. now, let s get back t
you may not be surprised to hear who s behind it, peta, people for the ethical treatment of animals. it blows the whistle on unethical treatment of animals anytime it can. they are denied freedom, peta, claims and everything else that is natural and important to them while kept in small, concrete tanks and reduced to performing stupid tricks. the 13th amendment prohibits slavery and these orcas are, by definition, slaves. seaworld, of course, couldn t disagree more. i want to reed you its statement to cnn. this effort to extend the 13th amendment s solemn protections beyond human beings is baseless and offensive. seaworld is among the world s most respected zoo logical institutions. there is no higher priority than the well fare of the animals entrusted to our care and no facility sets higher standards in husbandry, enrichment than seaworld. these animals serves an invaluabled educational purpose and makes direct contributions to species conversations. in the name till i yiku
economy. housing in america. if we don t fix it more downgrades of our economy are coming. the president rolling out some changes to his tenth housing plan today in one of america s hardest hit cities, las vegas. if you meet certain requirements you will have the chance to refinance at lower rates which could save you hundreds of dollars a month and thousands of dollars a year on mortgage payments. in a nutshell the plan increases the number of home owners eligible to refinance. now the administration says it would allow more of the five to seven million under water home owners who are still current on their mortgage payments to refinance. the administration is pushing for a rate of about 4% for those refis. we had two key questions. one, will the plan increase housing prices? well the chief economist of real estate website zilo told us even if the plan is fully implemented and everything is perfect prices for homes may not rise. that was not the answer we were hoping for