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cities of dara and homs. opposition groups say there have been executions and that the bodies of dozens of civilians have been found in a district near homs. president obama will be meeting with benjamin netanyahu on sunday. he told the biggest pro-israel lobby group that he is prepared to use force. he said america's diplomat pressure on iran will continue. those are the headlines from cnn, the world's news leader, i'm monita rajpal. "world business today" starts right now. good morning from cnn london, i'm charles hodson. >> and a very good afternoon from cnn hong kong, i'm and...

and so it's with great respect that i speak of him and proud to say that i worked for him. >> it's been a seismic cascade of events since last weekend's arrest of a former penn state defensive coordinator on charges of raping and molesting a number of other boys. two of the university officials are charged with failure to report those crimes. paterno is charged with nothing, but says he wishes that he had done more than simply tell his superiors what an assistant reported to him back in 2002. i want to go now to penn state campus and cnn's jason carroll. jason, we know it was a prett...

One of the founder was home depo. he said he couldn't start home depo now. too many regulations, that's what you have in italy. >> is it your sense finally that it is going to get worse and we are looking at a melt down in europe? >> yeah, this is the problem with our banking system. it never recovered that much. we have muddled through. one of the reasons we haven't muddled our economy has. we are in a recession . but two and half percent growth people are not working and those loans are defaulted on. and that's the problem we have. and i tell you, if it gets worse over there and that's why w...

Like greece. now people are betting on whether it is going to default or not. >> price of credit default goes up as what they insure goes down in value. they're insurance in case of a default. because greece moves ever closer to default, credit default swaps are moving up in price. but the problem is can i just interject? the problem is if greece does default, the cdss have to be paid off. somebody, the person who issued the credit default swap will have to pay a lot of money, which is what happened with the sub prime. guess who is issuing t issuing ? aig. aig, which we essentially nationalize...

And stay rewarded with the hit it big promotion-- earn up to $500 dollars at over 300 retailers. >> glenn: thoothanks to the european union and international monetary fund, europe is getting bail-out of close to $1 trillion. now they're betting against the blan. i asked david asman to come by, host of "scoreboard" on the fox business network. he can explain it better than i can. tell where you say they got it right or wrong here. credit default swaps, when i saw this, credit default is insurance. okay? bundled up, everybody's debt,