at least for the moment. stocks bounced back in early trading today, after monday s 634-point plunge. right now, dow blue chips are up by 201 points. investors are psyched over today s fed meeting, and there s speculation it might announce a new stimulus. to boost the economy. president obama sits down with treasury secretary timothy geithner. that s happening this afternoon. they re going to size out the new market turmoil that is fearing that is fully feeding fear of double-dip recession. the president is promising to help a special congressional commission find a long-term fix for the finances. i intend to present my own recommendations over the coming weeks, on how we should proceed. and that committee will have this administration s full cooperation. and i assure you, we will stay on it until we get the job done. so, congress has to appoint the commission by next tuesday. that is just a week from today. the six democrats, and six republicans will have until novem
you work, you save. reporter: while marvin is a spender, kathy is a saver so the couple makes all big financial decisions together. kathy had this guiding principle, if she s you know she spent $100 she got a headache. as we got married and had more resources can you add another zero. it was like a few thousand dollars. reporter: valerie coleman morris, who focuses on financial literacy for women, young people and people of color, points to a couple of reasons black americans are so behind in creating wealth and passing it on. money is still a very much off limits topic in the average family but in african-american families it s almost taboo. the second thing is the 401(k). we are not participating, and when we do participate we re contributing far less than most other people but in addition to that, there is this overwhelm ing need for becoming more financially literate and we aren t. i m not talking about rich. i m talking about wealth. reporter: but it s more than
according to the brookings instituti institution, the media net worth of black americans is about $28,000. compare that to $140,000 for the median household nationwide. what were your parents saying to you to make sure that it was so important that you two it? you work, you save. reporter: while marvin is a spender, kathy is a saver so the couple makes all big financial decisions together. kathy had this guiding principle, if she s you know she spent $100 she got a headache. as we got married and had more resources can you add another zero. it was like a few thousand dollars. reporter: valerie coleman morris, who focuses on financial literacy for women, young people and people of color, points to a couple of reasons black americans are so behind in creating wealth and passing it on. money is still a very much off limits topic in the average family but in african-american families it s almost taboo. the sec thing is the 401(k). we are not participating, and
before you eat another bite, have you to see our in-depth reporting on food. it can change your life. it will definitely change the way you think about eating. tonight we kick off a week of special programming. it s called eatocracy. hello, everyone. i m don lemon. thanks for joining us. we start with this developing story. bishop eddie long went before his congregation this morning to address for the first time allegations of sexual misconduct with young men in his congregation. never before has long faced such salacious and disturbing charges made by four men who said their pastor coerced them into sexual situations when they were teenagers. now after a lengthy wait, bish op long finally spoke the words many in his congregation were waiting to hear and cnn s martin savage was there. reporter: standing before an overflowing crowd of congress gants in the megachurch he built, bishop eddie long was in no mood to back down. there have been allegations and attacks made o
being portrayed on the television. [ applause ] that s not me. that is not me. it was long s first public comments since four young men filed lawsuits accusing him of using his spiritual position and the church s wealth to coerce them into sex. [ siren ] so many came to hear what long had to say, traffic was still snarled as service began. what do you hope to hear today? the truth. the truth. inside, parishoners waited an hour for their embattled pastor to appear. when he finally did, walking hand in hand with his wife, the crowd came to its feet. clearly feeling at home, long acknowledged those listening went far beyond his unusual sunday morning crowd. good morning, new birth. good morning. and good morning to all our other guests. reporter: when long eventually turned to the scandal itself, the levity was gone. i ve been accused. i m under attack. reporter: and his intentions became clear, describing a legal battle of biblical proportions. i am not