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In the book a pattern you say you can see repeetding throughout american history, 19th century, the wall street meltdown. can you tell us what that pattern is and why we keep repeating it? >> yeah. the pattern goes back, in fact, early 1793. it's the beginning of the first bank of the united states. we have -- europeans lending to the u.s. really since the nation began. and lending to the country itself, but also, a lot of private lending and a lot of private lending is -- turns out to be not very good at paying it back and so the failure to pay back led to the 1819 panic. same thing in 1837 a...

Weren't for debt we wouldn't be the country we are today, would we? >> that's right. i mean, we could not have expanded west. there's an image of freehold pioneers, you know, broadening in to the west. relying on nothing but the first institution that really spreads america to the west is the store. the store provides the european goods that are necessary, plow points and all these other sorts of things and we borrow and borrow to make it possible. we cannot have settled louisiana without a lot of debt. not just louisiana purchase which was financed in france, but also, you know, a lot of the ...

carry a long gun in his vehicle because in his words anything that requires a long gun requires a lot of paperwork and you're doing to find me as far away from it. he took two lunch breaks and attended a going away party. >> he began working as a community volunteer coordinator and months later praised their professionalism. arizona working to contain a wildfire. crews are being hampered by high winds, low human. the fire has scorched more than 16,000 acres. the state has issued a declaration of emergency. i want to bring in chad myers to talk about this. are we seeing any end in s...

why? well, because the authorities are saying that he is now making a claim that he played a direct role in the death of etan patz and allegedly killed the man. they were led to this man, we are told by sources, by law enforcement source, because this is someone who had beeen on ther radar screen and questioning people and as a source who led them to the basement of a man and this is also someone who had been on the radar a long time ago and they started to question him again, because the name kept coming up. we don't know whether this is going to lead to a break in the case, because...

to 6% in four years. we'll put his claim to the test. a new recording of george zimmerman surfaces and his relationship with police. we've seen dash cam video before but nothing like this. "newsroom" begins right now. good morning to you. i'm carol costello. we begin with breaking news on a mystery that focused national attention on child abductions a generation ago. after 33 years, we may finally have some answers in the disappearance of 6-year-old etan patz. the new york police department has man in custody and will release more details later today. mary snow is tracking the la...