i m erin burnett. outfront tonight we have breaking news. a surge of the day. stocks just jumped to the moon. dow and s&p had their single best day for the entire year. the dow jumps 287 points. so you can say why, the sheer excitement. the ebulliance. have we suddenly solved all of our economic problems? have we stumbled upon a machine gun of silver bullets? have we found our terminator? not so fast, arnold. today we got shot up with rubber bullets. it was an arsenal of talk but no concrete action. in europe, the central bank chief said officials stand ready to act and there were reports of talks of a possible deal to bail out banks in countries in crisis like spain. that s a lot of talk. being ready to stand by is different than standing by. here at home, the fed said it may be ready to take further action to help spur the economy, extending unprecedented efforts to ease credit. now, that s still talk and not action. is this what we have come to, so desperate, hanging on to
best day for the entire year. the dow jumps 287 points. so you can say why, the sheer excitement. the ebulliance. have we suddenly solved all of our economic problems? have we stumbled upon a machine gun of silver bullets? have we found our terminator? not so fast, arnold. today we got shot up with rubber bullets. it was an arsenal of talk but no concrete action. in europe, the central bank chief said officials stand ready to act and there were reports of talks of a possible deal to bail out banks in countries in crisis like spain. that s a lot of talk. being ready to stand by is different than standing by. here at home, the fed said it may be ready to take further action to help spur the economy, extending unprecedented efforts to ease credit. now, that s still talk and not action. is this what we have come to, so desperate, hanging on to the economic precipice that a little sweet talk sends stocks to the moon? outfront tonight, doug holtz-eakin, and robert reich, author of
outfront tonight we have breaking news. a surge of the day. stocks just jumped to the moon. dow and s&p had their single best day for the entire year. the dow jumps 287 points. so you can say why, the sheer excitement. have we suddenly solved all of our economic problems? have we stumbled upon a machine gun of silver bullets? have we found our terminator? not so fast, arnold. today we got shot up with rubber bullets. it was an arsenal of talk but no concrete action. in europe, the central bank chief said officials stand ready to act and there were reports of talks of a possible deal to bail out banks in countries in crisis like spain. that s a lot of talk. being ready to stand by is different than standing by. here at home, the fed said it may be ready to take further action to help spur the economy, extending unprecedented efforts to ease credit. now, that s still talk and not action. is this what we have come to, so desperate, hanging on to the economic precipice that a lit
the former head of saudi intelligence, prince al faisal, talks about the osama bin laden he knew and much more. finally, how this man became this man. the most wanted man in the world. an unbelievable story. first, here s my take. i was in germany this week, and the mood there is pretty grim. europe is facing its most severe challenge since 1945. if the greek crisis morphs into an italian crisis, italy being too large to bail out, the entire structure of post-world war ii europe could unravel. finally european leaders seem to recognize that their strategy of kicking the can down the road has not worked, and they will come up with a plan. not a dramatic solution, that s not how it works, but a series of steps that together will be more comprehensive than anything done before. but they will not address europe s core problem which is a lack of growth. the europeans, by which i mean the germans, are trying to find some solution to the crisis that will not let countries like g