good morning, it s thursday, november 10th. this is your a.m. wake-up call. i m carol costello joining you live from new york this morning. the board of trustees have decided that effective immediately, dr. spannier is no longer president of the university. in addition, joe paterno is no longer the head football coach, effective immediately. these decisions were made after careful deliberations. and in the best interests of the university as a whole. this morning pen studen stat alumni and students are waking up for the first time in 46 years without paterno leading the nittany lions. the president is also out. our mike galanos reports from outside the school from state college, pennsylvania. reporter: emotions boiled over as the announcement was made. joe paterno is no longer the head coach at penn state university. the students did not see that coming. many supporting joe paterno, wished he had done more through the child sex abuse scandal but joe paterno out. also,
years. his legacy blemished by jerry sandusky. dozens of penn state students rally outside coach paterno s home late last night helping to save his job. on friday, the penn state board of trustees is going to set up a special committee to investigate sandusky. prosecutors say he molested eight boys. paterno is not accused of anything illegal. but he went to university officials, not to the police in 2002 when a witness told hill he saw sandusky sod miomize him ine showers. early trading right now, down 251 points. new worries that italy may next be in line for a bail out are driving the stocks down. now, italian prime minister, he is expected to resign. he s also raising some concerns about the country s future. also weighing on the markets, the greek debt. now greece s prime minister says he s going to resign shortly as well. now, that suggests that george popendreau has reached a decision on the new government. well, he has been locked in negotiations for days to ensure
i think that barack obama is somebody who sincerely believes things that are totally nuts. could newt gingrich be the next best hope for the gop? i m an idealist, a romantic and a permanent optimist. that s the american tradition. this is piers morgan tonight. good evening. we ll get to my surprisingly intense and revealing interview with newt gingrich later in the hour, but first new details on the sexual misconduct accusations against herman cain. the first woman to accuse cain has now been revealed. she s karen kraushaar. i ll talk to her lawyer in a moment. you heard what sharon bialek told me about cain last night. i believe that he first needs to apologize and he needs to admit it. then it s up to him to decide what to do next. a little while ago herman cain held a news conference. listen to what he had to say. these accusations that were revealed yesterday are simply did not happen. joel bennett representing karen kraushaar, the first woman to come fo
and stock markets react as well. european stocks closing down on grave concerns on what s happening on the euro zone and whether italy will be able to pay its bills. and stresses that we re seeing in the italian bond market. when you talk about stocks, stocks are much smaller than the overall bond market. the bond market is where governments, companies go to borrow money to keep going. the cost to borrow for governments, governments in trouble, has been rising. you have that above 7% now. 7.3% for italy to borrow money. that s even with the european central bank buying italian bonds and with europe doing things to stabilize things. 7% is seen as a dangerous signal, fredricka. when you ve seen rates climb that high before, it s triggered a bailout. how can you bail out italy? it s the third largest bond market and economy in europe. look at greece, for example, 27% the interest rates on greece bonds. greece can barely can t borrow money, quite frankly, anymore, because of it
new this morning, the penn state board says it s outraged and planning to investigate the allegations of child sex abuse involving former assistant coach jerry sandusky. meantime, students are showing their support for head coach joe paterno. developing a short time ago, italian prime minister silvio berlusconi says he will not take part in the next election. and it was one of the most watched votes around the country. in the end mississippi voters said no to the personhood initiative. good morning, it is wednesday, november 9th. this is your a.m. wake-up call. i m carol costello joining you live from new york. herman cain and his rivals for the republican nomination lock horns tonight in a debate in michigan. one thing cain probably will count on, more questions about the sexual harassment allegations that have engulfed his campaign since the story first broke more than a week ago. cain held a nationally televised news conference yesterday once again denying all of t