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cruise liner is suspended. rescue diver face new difficulties while the captain may face years of prison. i'm wolf blitzern charleston, south carolina. you're in "the situation room." just releasing right now, a latest poll showing a tightening race. newt gingrich is charging ahead, trying to keep the fight for the republican nomination going, and the new cnn/time/orc poll shows him closing the gap here in south carolina. mitt romney remains the front-runner with 33%. gingrich up now, though, to 23%. rick santorum third at, and rick perry 6%. joining us now our chief political anal...

zandi and veteran political journalist ron brownstein of the "national journal" and peter baker of the "new york times." i'm candy crowley, and this is "state of the union." herman cain and michele bachmann were on this show the day after the iowa straw poll in august. she won, he was fifth, but unbowed. >> this campaign has encouraged and our momentum continues to grow. >> reporter: in an august quinnipiac poll, bachmann ranked third among republicans with 12%. cain just 5%. now in a cbs news poll of republican primary voters she sits between ron paul and rick santorum with 4%. ...

countries. the announcement comes on the same day france, belgium, and luxembourg agreed to rescue dexia, a major franco belgian bank. a couple of hours ago, i spoke with cnn's senior international business correspondent, richard quest. he tells me that what is going on in europe is very similar to what happened in america back in 2008. >> you really don't want the investment bank to fail. why? because a big investment bank failing of this particular time would cause a ripple of crisis of confidence and that's what happened with lehman in 2008. we're going to see more banks over the ...

analytics chief economist mark zandi and veteran political journalist ron brownstein of the "national journal" and peter baker of the "new york times." i'm candy crowley, and this is "state of the union." herman cain and michele bachmann were on this show the day after the iowa straw poll in august. she won, he was fifth but unbowed. >> this campaign has encouraged and our momentum continues to grow. >> in an august quinnipiac poll, bachmann ranked third among republicans with 12%. cain just 5%. now in a cbs news poll of republican primary voters, she sits between ron paul and rick...