Transcripts For CNNW American Morning 20111102 : vimarsana.c

CNNW American Morning November 2, 2011



bust. a man once on the short list for the treasury secretary right in the middle of it. >> including a president? >> including a president. >> former secretary of state, condoleezza rice talking about a poison scare at the white house. 24 hours that could have drastically changed history. proof that one woman can change history. one woman with a revolt of bank of america. this is all on "american morning." all right, good morning. it's wednesday, november 2nd. welcome to "american morning." >> yes, happy wednesday. allie is in france and going to join us in a moment. >> we are going to find out whether g-20 can save the world. the herman skain scandal. brian todd is live for us in washington. brian, in the crisis management and damage control, this is a tough one for cain, isn't it? >> it is, christine. we are about to see the other shoe drop in a big, big way in this case. one of herman cain's accuse sors may come forward and give her side. she's been upset since the story broke of what mr. cain has been saying about the case and his denial of the accusations. his lawyer says the client has been very, very upset about this. this is the exchange the lawyer had with anderson cooper last night. >> does she believe mr. cain is not telling the truth? >> yes. >> can you elaborate? >> first of all, it's difficult. there were two women who filed complaints at this time. it's unclear which one he is speaking about all the time. to the extend he made statements he never sexually harassed anyone and there was no validity, it's not true with respect to my client's complaints. >> at the time they were employees of the national restaurant association. the key question is, are they going to release her from her confidentiality agreement to speak publicly. the attorney says he plans to contact the national restaurant association, has not done so, yet. we have seen media report that is joel bennett is making requests on behalf of a former restaurant association employee. he has not been in contact with the association. if we are contacted, we will respond as appropriate. that is kind of the next linchpin in the story, waiting to see if the national restaurant association will release her from the confidentiality statement. we will see. this story is going to blow up further. >> herman cain adding in another layer to the controversy. a controversial layer. what did he say? >> he did. he was asked about the question of race and whether that played into it. this is an exchange he had with fox news. take a listen. >> do you think that race, being a strong, black conservative has anything to do with the fact that you have been so charged? if so, do you have any evidence to support that? >> i believe the answer is yes. but, we do not have any evidence to support it. >> so, that factor is injected into this whole story. what we are told now is herman cain has not been hurt by this in the wallet. his campaign raised more than $400,000 on monday alone. the single best day of fund raising since the campaign began. monday is when the story blew up in earnest in the media. there was an e-mail solicitation sent that supported herman cain. more than $400,000 raised on monday. christine. >> brian todd, we'll keep watching it. thanks. a big name on wall street is at the center of a growing financial scandal. the sudden and severe collapse of nf global. hundreds of millions of dollars belonging to investors is said to be missing. federal investigators are on the case. susan candidahas more on this. >> cnn is learning the fbi is investigating what happened to at least $6 million of customer money. the question is, did mf global, which filed for bankruptcy monday use their customer's money to prop up the company? if they did, it's a serious charge. there are rules requiring firms to keep customer funds separate from customer money. it's a company john corzine took over. he made bets on risky assets. more than $6 billion invested in italy, spain, portugal and ireland. when europe started to teeter, people started to worry about the bets and it created a crisis of confidence. >> at the end of the day, they took a very risky position. it was very large. because of the size, became risky and put pressure on the firm resulting in a lack of confidence by investors and other parties and essentially creating a run on the bank. >> corzine was close to finding a buyer. but when they learned about the missing money, they walked away from the deal. at the bankruptcying hearing, mf global's attorneys said all the money has been accounted for. federal officials are trying to get to the bottom of what really happened in the days before mf global filed for chapter 11. fbi is not talking about this. no comment on the growing investigation from mf global or jon corzine. >> if they are trading for their own book, they never co-mingle that customer money. that's why they are looking for the $600 million. it's definitely a stunning fall from grace for john corzine. it used to be goldman sachs was the big one. this is big. >> they make as risky of moves as anyone. maybe with investor money. >> getting to the bottom of it is what they have to do now. we are one day away from the g-20 summit. the stakes could not be higher. the european debt crisis topping the agenda. greece's prime minister sending a chill through the global markets announcing he won't accept a bail out deal without first putting it to a vote. 20 of the most powerful leaders. protesters are going to the streets. wow. the greek prime minister throwing into question all of that work by merkel, sarkozy, all these other european leader who is tried to get europe on a path to healing. are we back at square one? >> yep. >> wow. >> we might be behind square one. the greek prime minister put into question the entire global recovery. greece has the worlds recovery in its hands. you covered these events as well. typically, the day before is a lot of technical meetings and social stuff going out. this is assault on the greek prime minister to get him to change his mind. less than 24 hours ago, he changed his mind after agreeing to this thorough, robust, european deal. he's going to put it to the greek people for a referendum. we have seen from the protests in the streets, the greek people are not likely to embrace a system that increases their taxes, increases their retirement age, cuts their benefits. very few people in greece pay taxes. there's a bribery that goes on. they don't want to give up these entitlements. if it could happen in december or january, it's possible that greece will not subject itself to the cuts necessary to get this deal done. that puts the euro zone in jeopardy and that's what we are depending on to keep the entire world from slipping into another recession. this is very, very serious. this has gone from a somewhat technical g-20 meeting where they talk bank capitalization and recovery around the world and how much banks have to keep on reserve. merkel and secretary geithner are putting all their weight on greece saying do not do this. >> many people are saying there must be internal politics at play in greece. the prime minister had to show the people he wasn't going to take what europe gives. maybe not enough people would turn out. why did he do this? we know the g-20 is going to pressure him hard? >> playing with fire. sure. it's playing with fire. you are right. let's say it's a vote to say we have given you your voice, the greek people because this affects you. what if it goes the wrong way and gets defeated? greece could get kicked out of the euro zone. central banks and governments are not in a hurry to bail them out. we have heard opposition of the greek parliament saying he's suffering from mental stress and pressure. this is politics. he says i wanted to give it to the greek people for a vote, but everyone else pressured me not to. he's very unpopular right now. any government that poses those kind of stresses on their own people is going to be unpopular. probably there's a lot of internal greek politics at play. i have to tell you, i don't think the world ever had to care about what happens in greek politics as now. in the last 24 hours, i have learned names of political parties and peculiarities of greek politics. >> it's true. we are such a small world now. internal wranglings in greece affect our interest rates and whether there's another recession in the u.s. >> remember one thing, christine. remember one thing, back in 2008 when people said why do i care about these fat cats? let the banking fail. people couldn't get loans because credit wasn't flowing at this level. as a result, it wasn't flowing down. i tell you, this is the same thing. if greece defaults and doesn't do this and credit starts flowing, it will affect your about to get a mortgage, a loan, or buy a car. this stuff trickles down. we are all interconnected now. thanks. also new this morning, moments ago, a verdict passed down for wikileaks founder julian assange. he announced wikileaks is dealing with financial problems and is struggling to stay afloat. the jury has seen and heard all the evidence in the michael jackson death trial. the defendant, conrad murray said he will not testify. he's charged with involuntary manslaughter. the prosecution and defense will deliver closing arguments tomorrow and then the jury gets the case. a bowing 767 carrying 220 passengers and 11 crew members from newark, new jersey forced to make an emergency landing on its belly. look at that. the landing gear malfunctioned. the pilot pulled it off safely. there's not a single injury. captain sully sullenberger said it was a different challenge than he faced over the hudson in 2009. >> these things always remind me of that day. i'll never forget it. i was grateful this was a great outcome. this required great piloting skill, too. this is not like a normal landing. without the landing gear below you, your eyes in the cockpit is lower to the runway. you have to account for that. >> just to see it land with the no landing gear. at 8:40 eastern, we'll be joined live by captain sully sullenberger. >> i can't wait to talk to him. it will be fascinating. the pilot that landed the plane in poland flew gliders. it's one of the reasons he was able to gently land the plane. just ahead, for 24 hours, they didn't know whether the president was going to live or die. former secretary of state condoleezza rice opening up about a white house poison scare right after 9/11. a modern day banking account. forced bank of america to give customers a break. she became the face and voice of a fed up american banking public. she's going to join us live. it's almost 16 minutes after the hour. 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[♪...] >> male announcer: book now, save up to 65%. call 1-800-sandals. welcome back. former secretary of state, condoleezza rice, revealing a scary story from the white house. details that rarely leave their walls. she talked about a time right after september 11th where the president and most of the circle thought they were poisoned and going to die. she was with the president when vice president cheney delivered the news. >> we were in shanghai when the vice president came on saying the white house detected botulism. those of us exposed were going to die. >> he said that? >> yes, he said that. i remember everybody freezing and the president saying what was that? what was that, dick? >> including the president? >> including the president. >> tests took 24 hours to come back negative. they didn't know whether the president was going to drop dead. secretary rice is piers morgan's guest tonight. that's with piers at 9:00 p.m. eastern. can't wait for that. could the occupy wall street movement take a queue from molly katchpole? katchpole is the young woman who targeted bank of america online, gathered 300,000 signatures and shamed bank of america into eliminating their debit card fee. >> i'm 22 years old, i work two part time jobs. i don't have $60 a year to give to bank of america. >> she cut up her debit cards, switched banks and got an organization to have them switch their decision to charge $5 a month fee. today, she's given the victory sign. by strategizing, she changed in less than a month one of the largest banks in the nation. maybe occupy wall street should take a hint from katchpole. it's like catnip for those who criticize occupy. >> nobody knows what that caller did. >> so the talk back question for you this morning, could the occupy movement take a from molly katchpole? i'll read your comments later this hour. >> i'm a cynic wondering where the new fees are going to creep in. i'll try to find them and let you know. coming up, could it be another problem for apple? what the complaints are this time about the new iphone 4 s. it's 24 minutes after the hour. ahh, one. two. three. one. two. and, three. 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[ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you. welcome back. minding your business this morning. u.s. markets are poised to open slightly higher after a sell off. the dow down 2.5%. s&p 50 was down 3%. it's because of greece. a huge sell off. greece plans to hold a popular vote on the european package from last week. george papandreou wants to scrap the referendum and accept the deal they have agreed upon. without this bail out, the economy could collapse and be kicked out of the eu. it could be destabilizing for them. we will find out if the federal reserve is taking bold steps. less important is whether or not they are adjusting interest rates. more important is what the fed chief says. what will he say about europe? what will he say at 2:15 eastern about new moves to prop up the u.s. economy? the u.s. auto tree is improving. sales were up. increases were not as much as analysts hoped. chrysler, a 27% gain, the best since october 2007. ford was up 6% and gm up 2%. homeowner who is feel lenders played fast and loose may be in for a payday. under a new federal program, 4 million homeowners can have their cases reviewed for errors. their foreclosures reviewed for errors. if they find it caused financial injury, homeowners could get compensation. the gripes are louder over the iphone 4s battery. apple has not publicly acknowledged the concerns. "american morning" will be right back with the young woman who took on bank of america over the debit card fees. the little guy won. she's live in the studio after the break. power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ ♪ ♪ walk, little walk ♪ small talk, big thoughts ♪ gonna tell them all just what i want ♪ ♪ i said don't stop, don't stop ♪ ♪ don't stop talking to me [ male announcer ] the most legroom per dollar of any car in america. the all-new nissan versa sedan. from $10,990. innovation upsized. innovation for all. ♪ innovation upsized. innovation for all. sun life financialrating should be famous.d bad, we're working on it. so you're seriously proposing we change our name to sun life valley. do we still get to go skiing? sooner or later, you'll know our name. sun life financial. the world needs more energy. where's it going to come from? ♪ that's why right here, in australia, chevron is building one of the biggest natural gas projects in the world. enough power for a city the size of singapore for 50 years. what's it going to do to the planet? natural gas is the cleanest conventional fuel there is. we've got to be smart about this. it's a smart way to go. ♪ dangerous plaque that can build up in arteries over time... high cholesterol is a major factor. but these other health factors can also contribute to plaque buildup. so if you have high cholesterol and any of these other health factors... it's even more important to get your cholesterol where your doctor wants. talk to your doctor about crestor. when diet and exercise alone aren't enough... adding crestor can lower bad cholesterol by up to 52%. and crestor is proven to slow plaque buildup in arteries. crestor is not right for everyone, like people with liver disease... or women who are nursing, pregnant, or may become pregnant. simple blood tests will check for liver problems. tell your doctor about other medicines you're taking... or if you have muscle pain or weakness. that could be a sign of serious side effects. ask your doctor about high cholesterol... plaque buildup... and if crestor is right for you. if you can't afford your medication, astrazeneca may be able to help. she wants to share her side of the story about a sexual harassment claim. "the new york times" says the accuser was paid a year's salary in the settlement. prosecutors are joining the investigation of the failure of a firm led by john corzine. sources say mf global is unable to account for $600 million in customer's money. they filed bankruptcy monday. wikileaks founder julian assange is wanted for two sexual allegations in sweden. he announced wikileaks is struggling financially and to stay afloat. bank of america throwing in the towel to charge customers a $5 month li fee. petitioners threatened to close their accounts. this 22-year-old has been the face of that consumer revolt. the petition gathered 300,000 signatures. she joins us live now. >> hello. >> are you feeling victorious? >> it's a collective effort. i'm excited i started it. i wouldn't be anywhere without these 300 people who signed the petition. >> still, you have to be feeling good about yourself this morning. >> it's exciting. i'm trying to, really trying to, you know, make it known that it was the 300,000 people who really did it. >> i know you went to bank of america and spoke to a vice president in the washington, d.c. area. have you heard, again, from bank of america at all? >> no, i haven't. they haven't tried to contact me at all. i don't know fw they will. i welcome it if they want to call me up, go for it. i'll talk to you. i haven't heard anything. >> after the initial -- bank of america, no one thou

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