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rapes of young boys allegedly by a former assistant coach and allegedly covered up or at least ignored by other penn state officials. we get the latest from our mary snow. >> reporter: two days after ousting its president and former coach joe paterno, penn states board of trustees announced today that it is forming a committee to investigate the failure surrounding the reporting of sex allegations by jerry sandusky. the board of trustees says no resources will be spared. they will have...

good morning. it is thursday, november 10. well tomorrow to "american morning." if you went to sleep early last night or at all, everything is different this morning. >> it really is. first crash of the titan penn state football coach joe paterno out after 46 years as the head man in happy valley. paterno was fired along with the university president over a child sex scandal involving paternos former assistant jerry sandusky. the decision came hours after paterno said he would finish o...

>> i tried to remember if i recognized her, and i didnt. i tried to remember if i remembered that name, and i didnt. the charges and the accusations i absolutely reject. they simply didnt happen. they simply did not happen. >> so it did not happen, and he doesnt remember her. both statements categorical. the second is simple to check. bialek claims cain took her to dinner and upgraded her hotel room. there are credit card statements, no doubt, expense reports, hotel phone record. you c...

and stock markets react as well. european stocks closing down on grave concerns on whats happening on the euro zone and whether italy will be able to pay its bills. and stresses that were 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...

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throughout the trial jackson supporters have gathered outside the building offers words of encouragement to jacksons family. today la toya thanked them. her joy at the verdict unmistakable. >> michael loves everybody out here. we all love them. and guess what? he was in that courtroom, and thats why victory was served. >> jermaine jackson spoke briefly as he left the courthouse. >> justice was served, yes. it wasnt enough time, though. >> what do you say for michael? >> michaels with u...

sharon bialek here this morning with her skoir. guilty of the charge of involuntary manslaughter. >> a jury decides the fate of invi conrad murray. whats next. >> its a roar. >> oh, my god. >> and way too close for comfort. storm chasers catching amazing video of a tornado on the ground in oklahoma on this "american morning." -- captions by vitac -- www.vitac.com good morning. it is tuesday, november 8. welcome to "american morning." first, shocking accusations against herman cai...

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