Page 36 - 2 News Today

Momentarily. another alert for you, former new jersey governor jon corzine is testifying right now. hes about to get a grilling from lawmakers about the collapse of mf global which is a brokerage firm he ran. he used to run goldman sachs, then he was a u.s. senator, the governor of new jersey, he was almost the treasury secretary under president obama, and now this firm has collapsed, and there is talk about him not only facing lawsuits, but potentially criminal charges. $1.2 is missing. heres...

Money is. or why the accounts have not been reconciled to date. >> kimberly: what do you think? did he do his job? >> dana: he delivered the statement that the lawyers thought was appropriate. i think last night some of the p.r. people worked with him to say you need to sound contrite and calm. you need to sound like you feel bad about what happened. its so weird to see somebody with a character, larger than life character when he is running goldman sachs and then a senator and then governor, fo...

A chance to weigh in and on most of the immediate effects of the failure of the super committee committee -- dont go gointo effect until after the next election. there will be $1.2 tril trillion in so-called sequestration budget cuts, half of that in military spending, that may be too much, that needs to be adjusted. but it doesnt go into effect until january 2013. there is an election in november. there will be a lame-duck congress after that. there is a lot of time and a whole year of public d...

Its time now for the big three. supercommittee super failure, immigration, whos right, and mayhem at the mall. joining me now is joy-ann reed and christina from roll call. good morning to the three of you. thank you for joining us. >> good morning. >> christina, congress comes back on monday after the supercommittee failure and the inability to come up with $1.2 tril kr trillion in budgets cuts. do you think congress has lost all credibility with mainstream america? >> of course. this was create...

immigration. well show you the old clip making new headlines. wolf blitzer is off. im joe johns. youre in "the situation room." we begin with breaking news. american students caught up in the bloody cairo protest are finally on their way out of a nightmare experience in egypt. lets go straight to cnns senior international correspondent, ben wedeman in cairo. earlier today we heard the three american students would be released on saturday. now were hearing its already happened. why? >...

Ms global is the eighth biggest bankruptcy in u.s. history. and congress wants jon corzine to testify about what happened to what is now believed to be more than $1 billion of missing client money. when i heard this, first of all, the estimates were mf global had lost $600 million, the estimates keep going up, $1.2, then its $1.6 million. >> you have to understand how big his couch is, money falls out -- >> millions in that. >> yeah, hes like a cartoon villain. he worked for goldman sachs, if yo...

To see more defense cuts, when people like secretary panetta says this would be extraordinarily bad policy for the nationalsecurity of the united states, well find ways to work around that. >> do you feel some urgency to get this done? what about the potential of another downgrade of ericas debt? >> again theres going to b $1.2 trilli in savings, whether the committee agrees on a method of doing it or it happens automatically, as you say. this shouldnt foster a wngrade or run on the market or an...

Increase the debt ceiling, we said were not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or $1.5 trillion. supposedly on the mandatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never wil...

this pros he united in our belief the nations fiscal crisis must be addressed and that we cannot leave it for the next generation to solve. that statement, issued in congress. the super committee must not end. the president said if congress tries to get around the automatic cuts, called for in the law that created the super committee, he will veto it. >> my message to them is simple. no. i will veto any effort to get rid of those automatic spending cuts to domestic and defense spending...

the imf, alexus glick, experienced on wall street and covering and she is the ceo of the gen youth foundation, will cain is the cnn contributor, cloudy with a chance of rain has been your forecast. anything thats going to part the clouds? >> i dont think anything will part the clouds until europe clears up, which might be a while. were probably in for stable, slow growth, but theres more risk to the downside than the upside. >> lets talk about europe. just this week it became more diff...