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years. his legacy blemished by jerry sandusky. dozens of penn state students rally outside coach paterno's home late last night helping to save his job. on friday, the penn state board of trustees is going to set up a special committee to investigate sandusky. prosecutors say he molested eight boys. paterno is not accused of anything illegal. but he went to university officials, not to the police in 2002 when a witness told hill he saw sandusky sod miomize him ine showers. early trading right now, down 251 points. new worries that italy may next be in line for a bail out are drivin...

sensitive equipment and illegal immigration in the center of arizona history. you're in "the situation room." -- captions by vitac -- www.vitac.com we begin with the breaking news. political and financial chaos within the european union, sending fresh shock waves through wall street and world financial markets. stocks plunging in new york today on all three indices with the dow tumbling about 400 points amid a growing debt crisis in italy. and the third largest in europe. let's bring in our own financial expert, cnn's erin burnett, the host of erin burnett outfront. the markets tak...

Controversy. a third woman says she considered filing a workplace complaint against cain for what she felt was aggressive and unwanted behavior in the late 1990s. yesterday cain tried a new tactic in trying to address the accusations. >> asking me all of these other questions that y'all are curious about. okay? don't even bother. >> it's a good question, though, about confidentiality -- >> the fact that the women -- >> what did i say? excuse me. excuse me! >> and the cain campaign now blames texas governor rick perry for making the sexual accusations public. perry told a conservative blog last...

>> bill burton of priorities usa is here. construction workers, they want to do their jobs. we need congress to do theirs. >> the president hammers republicans again on jobs. and new polling shows the country is responding. >> are you kidding me? >> katrina vanden heuvel of "the nation" is here with the latest. republicans in ohio are fear mongering about your children. you won't believe their latest ad. good to have you with us tonight, folks. there are four new developments on the herman cain story tonight. for the first time, herman cain says the perry camp was behind the leak. the bi...

cain for leaking the story is speaking out. plus, lawmakers -- documents of the bankrupt solar energy company that got a half a billion dollar loan from the obama administration. you're in "the situation room." -- captions by vitac -- www.vitac.com while herman cain scrambles to try to get in front of the growing controversy, he's raking in lots of campaign contributions. cain's campaign now tells cnn they've raised an astonishing $1.2 million since sunday evening when news of the accusations first broke. meantime, cain may face new embarrassment and more pressure if one of his a...