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europeans and the americans might have to have more central bank intervention into the markets and also said that there have been policy decisions in europe and the united states that have been poor, and then on top of that, that was enough. that was already bad, brooke. then we got some economic reports right here in the united states. slowdown in housing, slowdown in manufacturing, and, you know, not a great report about new jobless claims. basically it all piled on. people ran out of stocks and back into -- into, you know, safer investments, but, really, it all started in europe. ...

Liabilities. >> it will lay off nearly 1/2 of its 472 workers. stuart varney said the city had no choice because pensions were paid off millions for retirees, the budget won't balance. there was no give. >> look, costa mesa, california, made promises years ago about what they would pay retired city workers for their pensions. a police officer, for example, could retire at the age of 50 and still get 90% of their last year's pay as a pension forever. plus, free health and pension benefits. now, look, you retire at 50. your life expectancy is, what, 30, 35 years. now, the average cop in costa me...

Are coming into town, here, they have to keep an eye on the forecast. they are asking people, they are expecting about a quarter million people, to come down here, for the labor day weekend. and, they are asking them not to come down here, until this storm passes over, and they are expecting that to happen, sometime tomorrow afternoon. that's the latest in ocean city. bill: appreciate that, sherry lee reporting out there. some of our most dramatic pictures, they come from you, frankly, and, keep the cameras rolling and send us your pictures and your video and get your name on television. and, ...

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Presented the purple heart to four generations of staff sergeant bernard mcnamara's family. he enlisted in 1942. he was wounded by nazi artillery fire in italy in 1943 and was a nazi prisoner of war for 472 days. his daughter katherine says the last time anyone recalls seeing the purple heart was back in 1962, when their mother allowed her cousins to play outside in the south bronx with dad's stuff. >> the kids would get nancy, so she took out my dad's stuff, the medals and i think there was a couple of little hats and stuff and she kind of got them dressed up and she pinned the medals on them...