first from fox tonight, the magnitude of this disaster almost defies description. the cloud of volcanic ash that blasted from a volcano in iceland earlier this week forced aviation officials to cancel 16,000 european flights today alone. 16,000. the ripple effect of those cancelled flights are stretching to countries all around the globe. that means travelers headed on vacation or back to work or trying to attend funerals or birthdays or weddings can now just sit there a woman at washington c tack airport spoke about trying to get to europe for her anniversary. >> you take deep breaths and hope you will get on your vacation. if not, then you go look and see if you can get to another city and do something else entirely. >> shepard: a group of student singers waiting to fly out of boston's logan airport put their thoughts to music ♪ feeling sorry for yourself >> shepard: never mind feeling sorry for yourself. a little advice for the thousands of people looking to spend more nights at the airport. a nasa satellite photo shows the shear size of this ash cloud. even though it's virtually invisible from the ground level, it's still far too dangerous to planes to fly because the tiny particles of volcanic rock and glass can do serious damage to engines and air filters and sensors. taking no chances pulling covers over jet engines to protect them. with so many planes like these sitting idol. one airline group is estimating the cost of this disaster at $200 million per day. rick folbaum is with us now putting all of the facts of this together. and, man, it's a long list. >> it's a long list. this kind is just kind of hovering. it's really not going anywhere. at least nowhere fast. kind 6 like all those folks stuck at airports around the globe who can't get to where they need to go because of some big volcano in the middle of iceland of all places. >> the volcanic ash high in the sky grounding 60% of all european flights until tomorrow at the earliest. the country is in red have closed their airspace entirely. the ones in yellow have partial closures. heathrow in london and charles in paris both shut. passengers are stranded all over the world from san francisco to singapore. >> it's an absolute nightmare. nobody tells you anything. >> since this is technically an act of god, airlines are not required to refund passengers' money or put them up in hotels, though some are. in 1980 when mount st. helens erupted flights were diverted from that airspace too. this time around nobody is taking chances. the u.s. marital is canceling all flights to the landstuhl medical center in germany. air carriers and their customers have no choice but to wait this one out. >> it seems that airlines have contingency plans for everything now, work stoppages, fog, congestion. this is a whole new dimension. i think what's killing the airlines right now is they don't know how long this is going to last. >> some passengers are dealing a little better than others. >> if you have to be stuck, italy is the best place in the world. we love it. >> well, 85% of all european-bound flights from the u.s. cancelled today. experts say that even once the ash problem lifts, it will take several additional days to get the flight schedules back on track, shep. >> shepard: rick, the sad part about all of this nobody knows when it may lift. a mess all across the globe. of course, it all began at a glacier in iceland that erupted two days ago. the ash is coating everything there officials had to clear hundreds of people out of the area. if they have to go outside to wear a mask or protective goggles or something. iceland sits in the north atlantic and originally formed by volcanos. the country was settled by the vikings more than a thousand years ago and glaciers covering 11% of the surface. we clearly have a vested interest in how all of this works out there. sky news reporter greg milam has more from right near the volcano itself. >> of course what everyone all over northern europe wants to know is how long the problems and eruption on the hill behind me will continue and how much longer that cloud of smoke and ash and ice is going to continue pouring away from iceland into those areas around europe. they simply don't know here. they are monitoring the intensity of that cloud. they are looking to see whether there is any sign of lessons in its power. there isn't so far. what they're also looking at here is the wind strength and direction to see if there is any indication rather than heading south and east from here at the moment maybe that cloud will move in a different direction, offering some respite to the people stranded all over northern europe and desperately trying to fly from all parts of the world. something that is worrying people locally here, is a completely different issue. we have already seen there have been evacuations during the week when farmers, particularly, it's a pretty sparsely populated area have been moved out of their homes. they are worried again about flood water. as that volcano melts the glass layer on the -- glassier on glas sherri. it's a worry here significant one. they look on with complete bewilderment of what this hill here and what lies beneath it is doing to so many parts of the world. >> shepard: scott milam on scene from our sister network sky news in earth. the ash cloud is effecting how world leaders do business and travel the globe. family members of the late polish president say sunday's funeral service will go on as planned. despite very serious concerns that some leaders may not be able to arrive in time because of airport closures. a plane crash killed poland's first couple and 94 other passengers nearly a week ago in western russia. the white house says president obama is still scheduled to leave for poland tomorrow. meantime, the norwegian prime minister bought an ipad during his visit to new york this week. here is the picture. his press secretary said the prime minister has been using apple's new product to do the country's business while stranded here waiting for flights. today the ash forced a flight carrying the chancellor of germany to divert to portugal. her duration reports the plane will not be able to get back into the air until tomorrow afternoon. >> shepard: well, in other news tonight, the automaker toyota has just announced another recall. this one effects about 600,000 cinema minivans. model year 1998 through 2010. people could see corrosion from the road salt in the spare tire cable. worse case scenario they say the spare tire could fall off the minivan and cause a big problem for whatever vehicle is behind it the automaker is still working on a fix here. folks with cars in this recall should go to their dealers for an inspection. this, of course, is just the latest in toyota's recall troubles which effect more than 8 million cars and trucks around the world. tonight, we are getting a new look at the inside workings at the controversial move by the central intelligence agency. new documents now indicate that after the cia disobeyed a white house order by destroying videotapes of interrogations, the agency's director said he was okay with the decision. here's the back story. it starts in 2002, when cia agents were holding these two suspected terrorists in thailand. we have since learned that the agency used waterboarding on those suspects, which president obama and many others consider to be torture. the cia recorded the interrogations. the white house told the cia to keep those recordings. but, in 2005, somebody in that agency decided it would be better to get rid of them and have them destroyed. for more than two years now, the department of justice has been investigating this case. the american civil liberties union sued to get a look at the documents from the investigation. now we're seeing what top officials at the cia and in the bush administration were saying about this. as it happened. catherine herridge is looking into it for us from d.c. catherine, we have known about the destruction of these tapes for a while. so what's new in these emails? >> well, shep, by november of 2005, the tapes had been destroyed. in an email, an unnamed high ranking cia official implied that then cia director porter goss, seen testifying here before congress in march of 2005, thought it was the right move. p.g., meaning goes laughed and said that actually it would be he, p.g., who would take the heat. p.g., however, agreed with the decision. the heat from destroying is nothing compared to what it would be if the tapes ever got into the public domain. the source within the intelligence community says goes did not approve the destruction of the tapes in advance but learned about it after the fact, shep. >> shepard: this is part of an aclu thing. what are they saying tonight? >> well, in a statement, the aclu said these documents provide further evidence that senior cia officials were willing to risk being prosecuted for obstruction of justice in order to be avoid being prosecuted for torture, clearly the cia applauded the move by the justice department to release these documents. shep. >> shepard: all right. what about, well, p.g., porter goss, the former director? >> well, a former cia official who is close to goes told me that he was angry when he learned the tapes were destroyed. but goes decided the agency had to move forward and just deal with it. goes at that time was sympathetic to the concerns. the fallout if the tapes ever became public. now, another contact with the intelligence community pointed out today that the justice department seems to go full throttle on these cia investigations. there are two right now. but the department is stalled when it comes to deciding how it will prosecute khalid sheikh mohammed. the alleged architect of those attacks, shep. >> shepard: catherine herridge in washington tonight. catherine, thanks. astonishing accusations today against one of the largest firms in all the world. the feds are now accusing goldman sachs of fraud. in essence, saying that goldman bet on the failure of an investment, telling clients to bet on success. think of that. what it means, big picture. how big a deal it is, and what happens now from the journalists of fox news, next on "the fox report." low in fat and cholesterol, heart healthy levels of sodium, and taste you'll love. girl: this is good for my heart? chef: you noticed. [cheering] announcer: campbell's healthy request. like, why are my numbers too low? are you looking for answers? the accu-chek aviva system now has new tools to help you discover what your numbers mean and how the things you do are connected to your blood sugar patterns. [ sarah ] with this tool i can see how food affects my numbers. i discovered what i can eat and how much. [ male annocer ] discor e accu-chek aviva system and save with a prescription discount card. start your discovery today. one of the fastest growing crimes in america. even if you think you're doing everything right, and hiding that social security number, you must still give it to your employer, your doctor, your accountant, insurance, school. the list goes on and on. and the identity thieves know who you must give it to. that's who they target. and that's why you need lifelock's new identity alert system... which goes beyond just new credit. it's like having a digital fingerprint. if a new application doesn't match you, we send an alert and help fix it for you. join lifelock and get alerts to important information, a one million dollar service guarantee... plus a team of identity theft protection specialists. this identity theft protection is only $9.95 per month... and comes with a 60-day money back guarantee. today's enrollments also include... a free document shredder. call now and mention "today"... or visit lifelock.com. ♪ >> analysts are calling this the most significant action yet relating to the mortgage meltdown, the actions that sparked the financial crisis and led the economy to a great recession. tonight federal regulators have filed a civil complaint against goldman sachs, one of the most powerful firms of any kind in the world accusing that giant investment giant of defrauding its investors intentionally it all dates back to 2007 when the housing market was starting to collapse. investigators say goldman sold risky mortgage investments toyotas customers. investments which could cost a lot of people a lot of money in the months that followed. but regulators claim there was one big winner in that deal. and that's where the fraud accusation comes in. even as goldman advised customers to put their money in these mortgage investments, the feds say the bank failed to tell them about a conflict of interest. that one of its clients an investment firm helped to set up these deals and then bet that they would fail. in fact, constructed them, designed them, hoping they would fail. so the money went from the investors to the hedge fund, in essence through goldman and goldman got commissions on all of it advising investors to bet on success but betting themselves on failure. adam shapiro from the fox business network joins us live. what is sak's saying. >> they are saying we didn't do it. the sec's charges unfounded in law and fact and they are going to fight this thing. >> shepard: give us an analogy explain what this means in human terms. >> in human terms it's simple. i'm a hedge fund and shep i want you to build me the house. i'm going to give you the materials, they are extremely flammable. one month after building of the house it's going to burn down. go sell it to somebody. don't tell that somebody that i one provided you with materials that are going to explode, or, two, that i have bought insurance that the house is going to burn down. and that's essentially what the sec is saying goldman did. they sold the house to people without telling them that there was a guy who gave the materials that would blow up and that that guy had insurance against them. >> shepard: all very bad stuff if true a billion dollars here. there is a lot of politics involved and it's about timing, explain. >> the timing on this is unbelievable. first we have financial regular regulatory reform being debated next week in the senate. the other issue that nobody addressed, fox business today, is the sec released a report today at about 2:00 p.m. on their role in the stand stanford testimony scheme the ponzi scheme. they admitted in their own report that they blew it stanford who stole billion from people they need in 1997 it was a preponderancy scheme and they did nothing about it which means goldman on one one hand, you have got 30,000 people worldwide who lost 7.2 billion. and the sec could have stopped it in 1997. they admitted that today. and they didn't do anything to stop it. >> shepard: wow. reform. sounds great. >> it sounds great. they need to do it. >> shepard: adam shapiro from fox business that was perfectly clear. thank you. well, as prosecutors filed charges against some of the people accused of triggering these financial crises, president obama says he is working to make sure that the collapse doesn't happen again. of course, republicans say they don't agree with the plan. the president today announced that it may take several more weeks to pass legislation dealing with financial regulation. he is vowing to veto any bill that doesn't hold the banks accountable for their failures and leave the taxpayers on the hook. republicans say they're oppose to the government taking on a bigger role in the markets. the senate minority leader michigan mcconnell says 41 republican senators are united in opposition. today told the senate it's open to any rapid liquidation fund. something republicans have been seeking. so, what about your money? do you plan to save more of in this year than did you last year. go to foxnews.com/shep. vote in online poll. we will show you the results in a little while. we have been reporting a lot lately on school bullying. one case in particular that led a family to say that this young girl kills herself. that girl was phoebe prince. now, in response, another school in the same area is telling students to make a bully's list, to report on their fellow classmates. even with no accusations against them. think that could cause some problems in the parents say big problems. bullying in school and how far is too far? that's next. [ male announcer ] millions of men 45 and older just don't feel like they used to. are you one of them? remember when you had more energy for 18 holes with your buddies? [ glass shatters ] more passion for the one you love? more fun with your family and friends? could be an easily treatable condition called low t. ♪ c'mon, stop living in the shadows. you've got a life to live. [ male announcer ] so don't blame it on aging. go to isitlowt.com to find out more. >> shepard: now the parents who say a crackdown on bullies went way too far. we're told the principal at a middle school in massachusetts asked the students to list classmates they consider to be the biggest bullies. anyone who made the list had to miss recess and meet with a courtroom. it happened -- meet with a counselor. it happened after the death of phoebe prince. prosecutors say that classmates bull idea her relentlessly. six teenagers now face charges in connection with her death. but the mom whose son made the top of this other school's bully list says the survey was not the best way to address the problem. >> i think before they pursued any of, this they should have looked into the allegations first. >> shepard: she also says other kids have bullied her son as well. molly line is life in boston. she works for new england for us. molly, what do school officials say about this survey? >> well, this happened at the wire village school in spencer massachusetts. the superintendent of schools essentially says that the principal's heart was in the right place, she was trying to crack down on bullying. it back fired. here is the superintendent. >> after i had time to marinate on it and double-check with our attorney and indicate to her that she was to stop what she was doing with those children's seeing segregation. >> so the superintendent of schools essentially agreed this was the wrong course to take to punish students based on a survey handed out instead of actual actions. he said to cut it out. shep? >> shepard: what about the principal? is she in any hot water here? >> yeah. well, you know, daniel, the mother of the 11-year-old that was at the top of the bullying list that was so concerned about her son being punished, his name being on this list said she would like to see the principal fired. the superintendent says he can't comment on those matters the school is moving forward talking to vigilance. teaching students to take the right course. that is something being talked about all over in massachusetts. there season legislation slowly working its way through committee right now. shep? >> shepard: massachusetts and well beyond. molly line, thanks so much. this is a day of remember barabbas on campus at virginia tech a day to honor the victims of the deadliest school shooting in yatsz history exactly three years ago. hundreds of people gathered for a series of somber services over the course of the day. some released balloons, others took part in a campus run. a candlelight ceremony planned for this evening. it was april 16th in 2007, a student named sung hugh cho opened fire on the virginia tech campus. in the end 27 students died. five faculty members killed and then he killed himself. the gownen gunman had a history of shooting problems. the shooting led to changes in criteria for treating and maintaining criminally ill people. a warning from the former president. bill clinton says words matter. some of the antigovernment outrage we are hearing right now could have consequences. but rush