outfront tonight, american loophole. today, we got this e-mail. i printed it out, from the u.s. state department. it announces u.s. sanctions against an oil company based in syria for doing business with iran. now, at first we thought, hey, this is proof of how tough sanctions really are. they re going after everybody. after all, here s the president and the secretary of state talking about how tough american sanctions on iran are. this resolution will put in place the toughest sanctions ever faced by the iranian government. the sanctions will be tough and clearly aimed at the iranian economy. the sanctions have enormous bite and enormous scope. but when we took a second look, buried deep in the state department release, was this quote on page two of my printout. any, my emphasis, business that continues to irresponsibly support iran s energy sector or helps evade u.s. sanctions will face serious consequences. certainly tough talk. but does it add up? no. just this
400-plus-point gain was a blip or perhaps a building block. well, sadly, we got a decisive answer today, the dow industrial average plunged 520 points, 4.6% amid jitters about europe s debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. john, we had yet another brutal session here on wall street today. you know, there s a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there s worries about france being downgraded like the u.s. debt was downgraded. they really accelerated the losses in the final minutes of the trading day, and then, of course, there s a fear factor that s around here, you know, investors feel like they re flying blind. no one has any idea of what s coming next or where the economy is headed, and it s that certainty that s feeding this downward spiral, but i also want you to keep in mind, what s also
average plunged 520 points, 4.6% amid jitters about europe s debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. john, we had yet another brutal session here on wall street today. you know, there s a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there s worries about france being downgraded like the u.s. debt was downgraded. they really accelerated the losses in the final minutes of the trading day, and then, of course, there s a fear factor that s around here, you know, investors feel like they re flying blind. no one has any idea of what s coming next or where the economy is headed, and it s that certainty that s feeding this downward spiral, but i also want you to keep in mind, what s also fueling this volatility are the computer models that many institutional investers use to trach stocks, as the market falls,
he s the president. come on out to the lawn of the white house with a microphone and tell us your plan on entitlement reform. and he won t do it because he doesn t have the courage to do it. i m candy crowley. and this is state of the union. late into the night, leaders scrambled for a last-minute debt deal, a two-step plan that would raise the debt ceiling through 2011 in exchange for about a trillion dollars in spending cuts. both sides are on board. but the hang-up is a second increase that will be needed in 2012. before that happens republicans want a special commission to outline future reductions. a no-go at the white house. i spoke with treasury secretary tim geithner earlier. thank you so much for joining us. nice to see you. you heard the two-tier plan coming from the republicans. let me have the white house take on it. let me tell you what we re trying to do, okay? the most important thing is we remove threat of default from the country for the next 18