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and this is an ipad for $69. the big mistake that had people thinking they had gotten the bargain of the year. i want to start with another apology today. this from rupert murdoch. responding to the hacking scandal from the u.k. what this shows you, this tape, it is murdock going into a meeting with the family of the murdered british teenager. it was that teenager's hacked voice mails that sparked the outrage into the scandal. listen. >> shame on you. shame on you. shame on you. shame on you. >> mr. murdoch, will you tell us what you said to the family? >> if you just keep silent f...

we begin with the resignation of a key executive in the rupert murdoch media empire. rebekah brooks is out. many people were outraged when brooks kept her job after the newspaper was shut down for scandalous reporting tactics. and as brooks steps down, the investigations ramp up. the fbi now investigating the murdoch empire right here in the united states. lawmakers demanding the probe amid reports that murdoch's journalists hacked the cell phones of 9/11 victims and their families. susan candiotti in new york with the details now. susan? >> reporter: hi, kyra. good morning to you. y...

out a plan palatable to both sides, and there's a separate push for the balanced budget amendment. the president suggested this morning that the u.s. doesn't have time have for any proposals. >> we don't need a constitutional amendment to do our jobs. the constitution already tells us to do our jobs and to make sure that the government is living within its means and making responsible choices. so it this notion that we're going to go through a multi-year process instead of seizing the moment now and taking care of our problems is a typical washington response. we don't need more stud...

the deficit and raise the debt ceiling. meanwhi meanwhile, the specter of default comes ever closer. frankly, it's the tone of these debates that has a lot of people scared and this is a guy who's scaring a lot of folks tonight. congressman joe walsh, republican from illinois, a freshman backed by the tea party. he's been known to say blunt things when criticizing president obama. these comments might just take the cake. i want to show you a video congressman walsh shot and posted to his website yesterday. >> president obama, quit lying. you know darn well if august 2nd comes and goe...

tough enough to withstand another financial shock. >> i think they've injected themselves into a situation that's beyond their comprehension. >> plus a former fed boss paul volcker has a blunt message for the ratings agencies. quit meddling in things you don't understand. we have that candid interview in full. but first, though, we begin with the tide of debt that is causing problems on both sides of the atlantic. this of course with the results of the european banking stress tests out later on today. now, that is seen as one of the -- one of the most debted nations, italy, is of cou...