you can -- he was at the washington navy yard today. we have got some video of him, talking about how he sees it as americans' responsibility, each of us, to contribute to a cycle of spending and hiring. he also announced what he would like to see as some incentives to hire veterans. as we know, veterans have one of the highest unemployment rates or one of the higher unemployment rates in the country. on that note, one more thing on the political ticker, ran dirk the jobs report came out today the president was talking about it i went through the jobs report and we have got a cheat sheet about it, go to political ticker/jobs report and you will see some of the things about jobs you may not have heard elsewhere. randi? >> lisa desjardain, thank you. your next update from the best political team on television is just an hour a what i will do it for me, have a great weekend. i will hand it over to brooke baldwin. thank you vet. hello tough. we want to begin with breaking news we are just get nothing cnn. if you live in north carolina, anywhere in the neck of the

woods of charlotte, take a look at the pictures we are getting in, flash flooding, hearing now that two different neighborhoods are being evacuated because of the massive flash flooding near charlotte. let me look down and get some of my note and chad myers i see hustling over here to help me out. charlotte fire department spokesperson says the city has received three notches rain or more in some place and terms of the res chew are going on right now, they say 16 rescues so far is what the city had to perform. people trapped in their vehicles, you see why, looking a this the parking lot. i read three inches. three notches rain for how long? >> raping four hours. >> but it didn't stop. rained hard. the rain came up from the south it started, basically just south of charlotte. it stopped at charlotte for no reason. the rain shower just stopped.

then it turned to the east and the three hours worth of ray. i do have areas now that have more than three inches. >> more than three inches. >> yeah. >> an affiliate out of charlotte, wcnc, you can see how quickly the water is rushing by because of some of the rain, you and i watch this sort of on the fly here, but you can see, you know, some places, clearly on the right-hand side of the screen, much deeper that the left. what is your read? >> even i-85 for a while was closed. no way to get through because the water was just so high went water is up to about the middle of your hubcap, literally the entire car can begin to float. you don't think so you think my car is so heavy no way water can pick it up. but water waist so much as well your car can float, some of these rescues have been people just stuck in cars. those cars aren't going to run today. that is just not going to go anywhere right. the water as it runs over the roadway has force that force can push you off the road as well. >> i'm being told, guys, the live picture from soc, we can

see the building and all of the cars, many of which are partially submerged. i have charlotte fire department captain rob brisley on the phone. talk to me about what you are seeing and what kind of rescues you-all are partaking in now? >> we are two hours into the storm and the biggest concern has been the many motorists trapped in their vehicles and glad report no serious injuries, but with a weather system like this that slows down, the storm drains get backed up and up fortunate drivers make it poor decision and find themselves in harm's way. glad to report, no serious injuries so far. >> wonderful news. no serious injuries. if you can explain to me, captain, rescues with regard to motorists, what are you seeing? >> if is common where a storm drain or intersection gets backed up and the driver needs help getting out of their flooded cars and charlotte firefighters, all of our

companies have their own personal flotation device, the reporter, the tools necessary to safely get people out of harm's way. this is kind of typical for a metropolitan city like ours that when a rain or a storm system stalls like this, many of these roads become impassable, we can't emphasize how important it is during severe weather. if the road's flooded, turn around, don't drown, take a different route to your december at this point nation. >> are you looking -- stand by for me, captain, looking at those picture, i wasn't quite sure if there's a road. >> there is a road under that but a river over the road. captain it is chad myers -- >> sometimes don't note integrity or how safe that road s >> you don't know how deep the water s. >> people exercise caution. >> think that road is still there that water has eroded the road away, all of a sudden not drive nothing six notches water, you are driving yourself into a captai canyon. have you had any swift-water rescues, captain? >> no, some have flooded the banks and safely evacuated a few

homes using our rescue boat bus glad to report that nobody's been in really treacherous situations and we want people to exercise caution, stay alert, stay safe, really make a difference when a storm like this hits a city. >> one more question four, captain, also getting information here that at least two neighborhoods are being evacuated after massive flash flooding. what do you know about that? >> that is an area just north and west of charlotte, downtown area. just a couple of homes where the creek nearby was rising very quickly. but thanks to our alert system and our notification, we were able to get a few of these people out of their homes ahead of dangerous companies with using our boats and our firefighters and our equipment. >> fantastic that session leapt news. captain, thank you for calling n keep us posted. i know the southeast des look work the phones as well. chad myers, keep us posted. >> rain stopped. >> doesn't look like it is raining in the live picture. >> that doesn't mean the water suspect going to rise in some places because that water is parked up on hills and that

water has to run down into valleys and if you are living in a valley, your water may still be coming up. >> chad, thank you very much. from that story to the one you and i were talking about right around this time yesterday the whirlwind on wall street. and in just one hour from now, we will know where that pendulum ultimately ends up. blue chip stocks trying to keep up a rally that did begin with some good news at least on the labor front this morning but after yesterday's scare, really it is anyone's guess. over the next couple of hours, we are going to take you across three continents as nervous eyes watch over a jittery global market. let's get started here, beginning with yesterday, after dropping more than 500 points, it ended on the dow, down 4512 at 4:00 yesterday. the dow popping up and down like a bungee jumper. talk about whiplash here, you look at the volatile market. alison kosik looking at the numbers at the new york stock exchange, alison, talk about the

numbers, what are we seeing now, positive territory right now? >> we are finally seeing consistent movement to the upside, dow up 19 points, i'm watching it fizzle out at this point, see if it stays that way, even by the time finish talking here. the dow flagtd plus come lumt last couple of hours or so, may not look like much, you look at how the the whole day has been today, a big deal it stayed in plus column, down as much as 244 points, as much as -- we were higher a by 172 points and some of this was fueled by word that the european central bank is ready to buy italian and spin nish debt.if the government there is agree to certain reforms much the ecb, remember the equivalent of the federal reserve right here in the u.s. and the fact that it is going to be making this move is something investors really like to hear and italy also took some steps to reassure investors that it is going to deal with its own debt problems so there were wore there is no one would be following buy up the country's bonds at this point because it's having such big debt issues. we also got that big jobs report

this morning, better-than-expected, brooke, not necessarily enough to sustain a rally on its own but looks like it stopped some of the bleeding, so to speak. you think? >> i hear some cheering behind you. >> i told you right when we finished talking. >> i know. i know. >> they are watching horse racing. >> oh, my goodness. we are watching the numbers, as you speak, now is down, speaking of getting whiplash. how -- how about investors? are they panicking right now? >> you know what they are not panicking what you are seeing is especially yesterday what you saw was more orderly trade, if you saw the dow plunge again today, you may really be questioning that, but really are, what we really saw yesterday was more sort of orderly selling, i wouldn't go as far as to say it is panicking at off. >> also, before let you go the number of trades happening today, are there more traced happening during this summer? >> what's interesting is the

summertime here on wall street, it is usually very quiet here on wall street because a lot of these traders ghoerks on vacations, they go to the hamptons, we are definitely not seeing that, with the the volume of trade going on here. you know, putting those hamptons vacation on hold, sticking by their port folios, they are watching the news headlines, they are watching the portfolios and they are making moves, they are back in the game what usually happens during the summer is you see everybody kind of sit on the sidelines and kind of go on vacation, definitely seeing a change of attitude this summer, where we are seeing lots of people actually taking part this summer because the market is just all over the place. brooke? >> as we are witnessing right now. we are going to continue to keep a close eye on it with your help had, alison kosik, my thanks to you. also, looking around the world here, stock markets did take a hit today. i want to begin in asia. cmn's andrew stevens is in hong kong. an zplu. >> reporter: big falls at the end of the train -- trading

week. down three 3 1/2 and 4%. nothing to do with local issues. the policy nation, the u.s. and europe can't come up with the right solution and until they do markets across asia are going to be very, very wary and investors respect going to be investing until they see some form of light at the end of what looks like a very dark tunnel. >> andrew, thank you. from asia to europe, one of the countries causing concern in financial markets around the world, that being spain. our correspondent has more. >> the spanish stock market suffered this week. the index, main index, has lost. but in the past five days, drops 10% of the value.

the spanish ten-year bond up 6%. the economic growth of spain has floer lowered in the second quarter. >> the job market grew stronger in july, allison alluded to numbers this morning. the number of new jobs still far from what's needed to put economy out of the dumps. president obama wants to get cracking on the jobs situation as soon as congress gets become from vacation that being next month. and here's his wish list of shovel-ready steps get people spending and working. >> extending the payroll tax credit to put $1,000 in the pocket of the average worker, extending unemployment insurance to help people get back on their feet. putting construction workers back to work rebuilding america. those are all steps that we can take right now that will make a difference. >> go to poppy had har flow new york to give us some of the jobs numbers.

poppy, i don't know if you were listening to the president, i know i was this morning, mentioned the job growth for the month of july is 154,000, but really it is 117. why? >> it is 117,000, brooke. it is much better than expected, i will tell you that. economists expecting 752085,000 jobs, the key here you have to count for the difference is as will of government jobs, 37,000 government jobs lost in the moment. that is not good. you cut spending that equates to cutting jobs. look at how much better this was than expected, brooke. i was sitting, anticipating these numbers this morning thinking, oh, my goodness is it going to be like june, so much worse than expected, we heard this cheer in the newsroom when the numbers came in 117,000. >> thank goodness. >> thank you very much for those numbers. i want to point out, brooke, these are not nearly enough johns created to really make a

dent in unemployment in this country. you saw up employment only tick down slightly to 9.1%. troubling part of this report, you dig deeper and look at the labor participation number that is how many people are out there actively looking for work or working right now, 63.9%, the loews rate we have seen since 1983. so that is a very bad sign, you have more and more discouraged workers thought, people that gave up looking for work and not included in that 9.1% unemployment rate. i encourage people to look past that top line number and see the reality of situation is. ; many people out of work respect even counted as unemployed, brooke. >> a good point, we need to make it each and every time we talk about than employment percentage, we talk about the net gape of 117,000 months for the job of july, poppy harlow, what everyone wants to know where are the jobs? great jobs that people are hiring? >> that's very interesting point. we expect it had to health care, saw 31,000 jobs added in health care last month what we didn't

expect were the additions in retail and manufacturing. when you look at retail, 26,000 jobs added. manufacturing, 24,000. this is after some very weak manufacturing reports we like it see that retail, great news, because 70% our gdp in this country comes from consumer spending, like to see the retail numbers higher. i do want to point something else out in this report, brooke, again doesn't get a lot of attention, you look at who is getting the jobs, guess what the jobs were going to people without a high school diploma or just with a high school diploma, not to people with clem degrees. those jobs went down over the moment and that tells us that these jobs respect necessarily the high-paying, skilled labor jobs necessarily, these are more lower-end, lower-paying jobs. so, that's not great thing. good for anyone to get jobs but showing us that the jobs that are being added right now may not be the high-level, high-paying jobs of course people are hoping for.

i think a mixed bag in this report it is a good top line number but one jobs number does not an economic crisis solve and right now, you are hearing increased chatter about the possibility of a second recession. we don't know if that is happen bug we need to see many more good signs, including a lot of growth in this country, not just one good jobs number, brooke. >> poppy harlow, thank you very much. and now, i want to talk europe here. go to jim boulden for a breard look at the situation on that continent. we talk about volatile knit the financial markets and a lot of it is because of italy, spain and their abilities to handle their debt loads. talk to me about the situations in both countries. >> it's so interesting, brooke, because if you get the debt problems in europe so you get the markets going down and then the u.s. a numbers and the markets went with up, both market else u.s. and europe are playing off each other, trying to find good news. went markets here closed, they were still look investigate negative so very bad week.

but since then, prime minister berlusconi held an extraordinary press conference on friday night in rome and he announced some speeding up of measures, of austerity mesh sure, including the balanced budget amendment he said would be implemented, the kind of thing that we wanted to hear that they were going to speed up these reforms much the theory is or the rumors is that the european central bank will now go in and buy the bonds of italy that worried everybody because the spreads were getting so high. also, berlusconi said he will speak to u.s. president barack obama later today and possibly calling for an emergency summit of the g 7 finance ministers. timothy geithner might be meeting with european counter parts. the idea to globalize all this and try to get every be on the same page and they wanted to put some very strong signals out before the market reese opened on monday. >> berlusconi floating the balanced budget amendment, we have heard a thing or two about that, haven't we here in washington late wlachl about german chancellor angela merckle? >> i know she has had emergency talks today did she come one any possible solutions?

>> they are all on holiday, pretty much, so there have been a lot of phone calls from president sarkozy in france. the idea to at the time markets they are talking to one another, make sure we know that we tear care there were problems in the stocks in the past 24, 48 hours. what they need to do merkel very strong about this they are trying to create this new fund and increase the amount of money in this fund and the flexibility of this fund to use in case more countries get into debt, serious debt problems the way we have seen greece, ireland and portugal but these are politician and foound finding it very hard to create the fun in a way it pleases the markets, at the same time, not upsetting the taxpayers and that's been the problem in europe all this year. >> jim boulden, thank you for the perspective overseas it is all interconnected. thank you, sir. he says's man of god a prophet, but a texas jury says warren jeffs is a child rapist. coming up,le polygamous sect leader is sentenced today.

wait until you hear his bizarre proclamation again in court today. plus acre tension all space nerd he is, nasa making a major announcement about mars. what scientist says they have found that could change your thought about the planet what could it be? stay right here. well-being. we're all striving for it. purina cat chow helps you nurture it in your cat with a full family of excellent nutrition and helpful resources. purina cat chow. share a better life. handle more than 165 billion letters and packages a year. that's about 34 million pounds of mail every day. ever wonder what this costs you as a taxpayer? millions? tens of millions? hundreds of millions? not a single cent. the united states postal service doesn't run on your tax dollars.

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[ male announcer ] want to pump up your gas mileage? come to meineke for our free fuel-efficiency check and you'll say...my money. my choice. my meineke. 40 minutes away from the closing bell. quick check of the market, it is back and forth. see some of the green and red, up 5. that can change any moment, keeping a close eye on the markets, check the numbers, c cnnmoney.com, all over that. but to this trial playing out, now that the sentencing phase, really judgment day for polygamous sect leader warren jeffs. he is back in this courtroom in san angelo, texas, one day after being found guilty of raping two

children. jeffs kicked off today's session with another proclamation that he came from god. beth car vass a correspondent for in session on true tv in san angelo. beth, today begins i the sentencing hearing, presenting more evidence, what, dare i ask, happened in court today? >> reporter: well, warren jeffs started the day in court but he is no longer there. he has asked to be removed from the courtroom voluntarily. remember, he is representing himself. he sat at the defense table alone throughout the guilt phase of this trial. his lawyer is at the table instead of warn jeffs. this punishment phase is going to be decided by the same jury they do that in texas at the ary of a defendant. these jurors are going to hear

several divlveral dives evidenc state, criminal acts committed in other states, even other than texas, but not prosecutable by this office, maybe because they are too old. and other immoral act including his 78 unlawful marriages, 28 of them to children and sex acs he allegedly committed against other children -- when they were children. >> the sentencing determines how long he could go away, a couple years to life in prison. i have to ask you quickly, when it came to that guilty verdict yesterday the jury speaking of swift texas justice, bam, guilty quickly. >> that is right. and about three hours. and that included lunch for those jurors, ten women and two men. he glared at them and they glared back, just before they start thied their deliberation. didn't come as a surprise to

most. straight ahead today, have you heard about this, scientist says they have discovered something key on mars, possibly flowing water. we will tell you why that is so important and the amazing new proof. plus this -- >> [ inaudible ] ♪ ooh baby, looks like you need a little help there ♪ ♪ ooh baby, (what) can i do for you today? ♪ [ female announcer ] need help keeping your digestive balance? align can help.

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charlotte fire department and as we can see some of the cars submerge, they have been very busy trying to get people out from being stuck in their cars. >> yeah, at least a couple dozen rescues and we are not talking about what he was saying was swift water rescues and maybe i will just go back and tell you what that is, you think about that, where somebody is holding onto a tree and the water is rushing underthem and they need a boat to go get that person, they have not had that type of rescue yet, but that doesn't mean it comment happen, people respect smart, you get yourself in that water, all of a sudden rushing, the car pushed off the road and now you are the one holding onto that tree, so, got keep those people safe.

>> three inches of rain the course of four hours, some areas maybe more, the rain may appeared finished but doesn't mean folks are out of the woods. correct, water 800 feet in elevation, some hill that has to go down to a vally, that valley is going to run into a creek and that creek can still be rising even though the water and rain has stopped. okay, we are going to stay on that if i may make the turn because i like talking about nasa, and so do you, as we were there for the "atlantis" launch, a big day for nasa. hang tight, chad, talk about with this with merck ready to investigate the solar system's largest planet. for the first time since the shuttle program, the "atlantis" launched last moment, nasa has launched this new space mission today this is the "atlantis" -- excuse me, the atlas 5 rocket, carrying the juneau spacecraft. the solar-powered satellite expected to reach jupiter in a day? no. a week? no. try 2016 and give scientists a peek how the gas giant formed and understand more about our

solar system. nasa is also excited about the findings of another orbiter this spying on mars and chad talk to me here, nasa coming out, hang on a second, we might have found maybe proof of existence maybe because there is water. >> could be water. no question that the surface of mars changes color in the spring. it changes color and they think with these streaks coming off of hills, they get darker and those darker streaks appear to be water streaks, probably not fresh water. salt water? >> brackish salt water, very, very salty, typically nothing of the marsh surface is above freezing, you have to to have something 50/50 salt or even more, enough ton flowi be flowi millions and billions of years in the past. maybe things live there maybe they still do things at the bottom of the ocean grow we don't know about yet, they are living in salt water without sunlight, some of these microbes

could be living. >> sitting here saying maybe this maybe that maybe. we don't know. we are going to mars. you and me both eventually. yeah, right. maybe. but we know that there has been previous reports, hey, we think there's water, hey, we think there could be later on since of life. why should we believe the news now? >> it only makes sense because this dark streak, they look like water fall, they only happen during the spring and the summer of the martian season, it goes away, underground for the winter when it gets very cold and shows up as the dark streaks, some type of water running down. if you have h 2 o, whether it's full of sodium chloride, whether it's full of any other type of salt, that keeps it from being frozen surface at some point in time, things can live in that water. >> i wonder how long it takes to get to mars, five years get to jupiter, wonder if i could get pto for that long.

>> work on it satellite dish. >> ireport, appreciate it, chad. there were some chilling moments caught on camera, two men shoot up this city bus. wait until you hear the reason why. and take a look at this. lava flowing from a crater in hawaii right now. more amazing pictures straight ahead. and let's get live pictures of the big board. it is down. first it was up, then it was down, whiplash today at the new york stock exchange, we have your market, covered, stay here, cnn newsroom is right back. [ ja] what's for breakfast? um... try the number one! [ jack ] yeah, this is pretty good. [ male announcer ] half a day's worth of fiber. fiber one. [ male announcer ] you've reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen.

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day of the word on wall street, volatility. dow swinging up and down one day after losing more than 500 points. remember, it closed down 512 at 4:00 yesterday. right now it is up nine points. investors focusing on europe's growing financial crisis and continuing drag in the u.s. economy. dow is up, we hit the last half hour of trading. going to bring the closing bell, of course, live at the top of the hour, 4:00 eastern time, stick around for that. now to this a jury reaches a verdict in the controversial shootings at the danziger bridge in new orleans. you remember those two men shot and killed in the chaotic aftermath that was hurricane katrina. four others were wounded. today, four current officers and a former officer were found guilty in those shootings, depriving victims of their rights and other civil rights violations. they will be sentenced this coming december. some chilling video i want

to share with you, release here. this bus in philadelphia, shows alleged gunmen looking into the open door of the bus last moment, then passengers huddling, you saw them by the door, dodging bullets, flying blasts. there were no injuries. a male passenger testified a woman -- here they are coming back on, a male passenger testified a woman called in the gunman after he criticize herd for slaerpg sop. the woman and the boy got off the bus before the shooting gap. two people now facing attempted murder charges in that case. new streams of lava flowing on hawaii's big island, new fissures have opened from the kilauea volcano, look at this scientists are now tracking the lava flow, which is now poppeding in low areas of the volcano's national park. that area, obviously closed to the public for now. the lava flow has slowed down a good bit since it began on wednesday. so the debt deal is a done deal, does do enough to make a accident in our economy?

my next guest says not the even close. in fact, retired senator alan simpson says the stock market is plummeting because the dealt compromise didn't go far enough so what will it take to work? we are going to ask him, next. nationwide insurance. talk to me.

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we are pleased to have with us from cody's, naz buffalo bill's cody, wyoming, alan simpson, republican co-chair of the republican debt commission which issued recommendations to cut the national debt last december, senator simpson, nice to have you on. i appreciate it. a gatt lott to cover here, sir, and i want to begin with taxes. when the good times rom, republicans insist on tax cut, economy goes sour, republicans insist on tax cuts, sun comes up, tax cuts, sun goes down, tax cuts. senator is your party's brand too closely tied with with tax cuts? >> it ain't my brand, but today we identified $1.1 trillion of tax expenditures in the tax code. they are really spending by any other name, we called them tax earmarks. we said, look, get rid of those

and we can go to a rate of tax of zero to 70 grand for 8%, 70 granted, 210, 14%, 210 over that 23 and lower the corporate rate to 26 and 36, but the point is, we have a situation which is absurd, tom coburn, senator coburn, struckette noll subsidies out of the tax expenditure list that's $6 billion to support a product which goes into human and animal beings and shouldn't go to-to-your gas tank, get rid of it, knocked it out. and grover norquist and his happy band of zany warriors say that that is a tax increase f that's tax increase and coburn said for you to call that a tax rate increase is ludicrous. i call it deception. >> senator, let me jump in because you mentioned grover norquist, do you think he has too much influence on the

republican party? >> are you kidding? he got 95% of them both parties to sign up -- pathway that they would never raise tax under any situation. good grief, anyone that would sign.any kind of pledge before you get there to look at the evidence, examine things, do your research, listen to the debate is a robot. you can't do that and boy now, he holds them to the fire. and if he is -- if he is the most powerful person in america, he may well be now, then he should run for president. >> hmm. he may be, you say. i do have one more question about your party, sir and apromise i will move on, but senator, there are a lot of folks saying rightly or wrongly that new jersey governor chris christie just blew it, blew his future in the gop by nominating a muslim-american to a state court judgeship and then calling out folks who claim this judge will impose muslim law. i want to pay this piece of sound. this is governor chris christie.

>> this shari ya law business i crap, it is crazy. and i'm tired of dealing with the crazy and it's just up necessary. >> again, that was republican governor chris christie of new jersey call out islam ma phobes. you, senator simpson, recently called out homo folks. should more republicans follow your example, follow chris christie's example and go head-to-head with the haters out there? >> boy, that's what i do. i mean, it's not hard to do if you just don't shriek and tear your hair. grover norquist is a good eggs with a very bad idea. and how he got these guys to sign up on this stuff, what i say to people, look, if -- now, grover can't murder ya, he is not that kind answered won't burn your house down, he is not that way. the only thing he can do to you is defeat you for re-election and if that means more to you than helping your country through a rocky time of fiscal disaster coming, then you

shouldn't be in congress. that's what i tell them. homophobe, we all have -- we all know someone we know or love who is gay or lesbian. what is that about? and abortion is a horrible thing, but i practice real law with real human beings. that's deeply intimate and personal decision and i don't think men legislators should even vote on it. now, they might throw things at ya. i have been called a baby killer. i have been called everything. but in the course of it i found that most human beings feelize do, they have common sense they respect each other, they love each other, and they don't listen to guys who talk -- now, get gay marriage out of the scene. if you take marriage away that's a flashpoint deluxe, but you get no special privileges and no special penalties what is this about? you go to church and -- >> you say call them out? call them to snout >> call them out. >> senator simpson, let's talk economy here while i have you.

i want to go back to 1937. a lot of economists say fdr miscalculated. he thought the nation was emerging from the depression, he cut government spending, focused on reducing the debt, the economy took a nosedive again. recognizing today that the debt is very much so a problem, are we right now making that exact same mistake? >> i would say that isn't even possible to think and equate them. 1937 and 20072011 are like the jupiter and mars. i mean, we didn't pay in those attention in those years, we didn't know where greece was. we didn't care about greece or italy or spain or portugal or ireland. now we are all hooked. globalization, they buy our bonds, we buy their bonds, it's all different. we have a totally different world. whoever heard of a debt which has now been raised to $17.1 trillion?

and ft. on that debt, if we do nothing, in ten years, will be $1 trillion. these down the rabbit home doesn't help education, culture, anything. this is madness. >> senator, you have worked with a number of president, you have worked with democrat, you have worked with republicans, let's talk about our current president. how do you rate president obama as a leader and specifically during the drawn-out, you know exfill in your adjective debt negotiations with members of your party? how do you rate the president? >> well, i wouldn't have taken it on. i have had business with him. [ inaudible ] we said everything is on the table, he said yes, he didn't do anything with our prossal because we have been torn to shreds by people waiting to tear him to shreds, so paul ryan, give him credit, a gutsy guy, dealing with the biggest mastodon in your kitchen that is

medicare. call it obama care, elvis presley care, i don't care care, it's unsustainable, it is unautomatic p-- on automatic pilot. can you touch it? the aar. >> rip and snort, the guy loaded with bucks, gets a heart operation, doesn't even get a bill. come on this can't work. >> senator alan simpson from your perch there in wyoming, speaking your mind. i appreciate it, sir. senator simpson, thank you so much. >> thank you. it was a treat. before we go to break, quickly here, watching the flash flooding situation in charlotte, see the radar, a lot of rain in and around shart lot area, we are all over that. also coming in next, dramatic video of a hotel roof collapse. i will speak with a guy who shot the video. we will be right back.

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get back to our breaking story there in charlotte, flash flooding causing issues for people who are trying to drive through some of this rain. take a look at some of the video, you can see how, you know, some of the streets completely covered that looks like a river. look at this. video from our affiliate, wcnc. i talked to the captain of the charlotte fire department earlier, he told me they have done in the ballpark of 18 different rescues. not talking swift-water boat rescues but we are talking about people who simply have driven through the stuff and got stuck. also let you know, we have got someone on the line, still waiting for this video to come in, but it is video, some sort of a roof collapse at a hotel in the charlotte area.

as soon as we see that video, working ton right now, we will get it for u again, looking at the these pictures, chad myers was saying three, four inches so many hours, right? >> a couple of hours two inches an hour for two hours, you are going to have street flood nothing matter where you are. simply a matter of fact this one happened, the middle of a farm field that rain would soak in. when you have all the concrete and all this asphalt and all these places where the water is not going to soak in, just run off, runs into some place, runs into parking lots, runners over rivers, runs over roads what we have had all day in charlotte. >> go back to the live picture we can, you can see how the cars are parked, near a building, more or less, this live picture -- i'm being told we don't have it now, you can tell the water, excuse me, the rain has stopped. to your point that is great news at first glance, but that just means -- still have the water quickly moving past that just simply means where it is puddled where it is pooled, it will go

down hill into valleys where it create deeper ponds and areas and don't drive through it. >> tough understand this water is eventually going to get to the ocean, the social hundreds of miles away. so the water is going to go up, the levels are going to group, at least downstream for a while, and you need to be careful. ca. especially if there's a power line down. there's a power line in the water. you need to stay completely away from that. they can still be alive even going through the water. you don't want to be in that water at all. >> all right, again, we have a roof video of the satellite in charlotte. >> i have seen it. it's dramatic. don't go away. >> i haven't even it. i'll wash it fresh with you. meanti meantime, let's move on and talk numbers in terms of jobs. july's jobless numbers, they are out today. they are not horrible, but there's certainly nothing hopeful about them either. millions of americans becoming so discouraged about finding a job, they have given up completely. so there any light ahead for

some of you. we're going to get some answers for you next. also a reminder, we're keeping our eyes on the marks here. in the green for now. up 52 points. we are 10 minutes away from the closing bell at the new york stock exchange. we'll bring that to you live and see if there's any late day alarming selloff as we saw this time yesterday. sure, but let me get a little information first. for broccoli, say one. for toys, say two. toys ! the system can't process your response at this time. what ? please call back between 8 and 5 central standard time. he's in control. goodbye. even kids know it's wrong to give someone the run around. at ally bank you never have to deal with an endless automated system. you can talk to a real person 24/7. it's just the right thing to do. you can talk to a real person 24/7. ♪

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> jake powell joins us from washington. i was thinking about this. i thought the last time we spoke here on this program, it was

really essentially the eve of the debt deal, and you were saying you really felt for the folks who were currently working at the treasury department, and you were nervous for them. how do you think they're feeling today? >> well, relieved and we avoided all the pain of a default but we did walk into this 500-point down day yesterday, so i guess that relief will have quickly dissipated. >> let's talk about the breakdown of the july jobs numbers. i know we gain in the month of july, 154,000, subtract 37,000, that's what we lost in government jobs, equalms net gain 117,000 jobs. what's your read on that. what sort of shape is the labor market in? >> well, it's not as bad as was expected, and it does signal that a double dip recession is less likely, but it's not good. the net of it is it's about 154,000 in private sector jobs.

the government sector is really flat if you ignore the loss of jobs due to the minnesota shut down. 154,000 is equal to the population growth in a typical month. you have an economy that's really going sideways and an underlying labor market that's in terrible distress. >> mr. powell, i apologize. stand by. we're sitting here juggling a couple of stories. right now, we're also watching the breaking news out of charlotte and the flash flooding. eric i'm talking to you for the first time, seeing your video here for the first time. walk me through where this is shot and what the world is happening. >> okay, it took place at the embassy suites here in charlotte. i am a rep and i'm here for the

southern branch. i exited the elevator and turned left and noticed that some of the fixtures in the lobby were dripping water, which quickly escalated into more -- i mean, it was as if someone had opened up the entire ceiling. so i pulled out my phone and started shoo thing, and then within a couple of seconds, the whole ceiling had just dropped down. >> let's review that quickly, guys. let me ask you, eric, how long ago was this? >> this was about an hour and a half ago. >> an hour and a half ago. >> so it went from being completely dry outside, no rain to torrential downpour to -- and i guess the hotel, one of the drainage pipes -- it totally overwhelmed the driainage pipes and it caused damage you see there. it was absolutely insane. i've never seen anything like it in my life.

>> i want to continue my conversation with mr. powell. we are less than four minutes away from the closing bell. be right back. labored breathing ] [ coughing continues ] [ gasping ] [ elevator bell dings, coughing continues ] [ female announcer ] congress can't ignore the facts: more air pollution means more childhood asthma attacks. [ coughing continues ] log on to lungusa.org and tell washington: don't weaken the clean air act.

>> we are just about one minute away from the closing bell on wall street. we are in the positive territory. keep in mind around this time yesterday, we were watching it plunge and plunge and continue to plunge. the day ended up closing at negative 512 points. with alison kosick standing by. she will join me once we start talking ability the numbers. we're following the breaking news out of charlotte, north carolina. we're also getting more video of some of these rescues now. they're actually having to evacuate, not just one but two of these neighborhoods in and around the charlotte area. let's take a listen to the closing bell there on wall street.

>> what a week. what a roller coaster. i'm happy to tell you, the dow ending in the green. the numbers have to settle in a few minutes, but we're in positive territory, up 60 points at 11,444. whew. quite the difference than what we saw this time yesterday. let's go to alison kosick, she's standing by for me at the new york stock exchange. did you feel the big sigh of relief among all the traders down there on the floor?

>> yes. just felt it as soon as the closing bell rang. >> it's really made for some wild swings. it began with the relief rally when we got the positive jobs report. we saw the dow jump in the early going. everybody took a nice, deep breath. but before we knew it, we were down on unsubstantiated worries that standard & poor's, that's a credit rating agency would downgrade a credit rating after the closing bell. the s&p had no comment on that. then we had positive news out of the europe. the ecb said it's ready to buy up italian and spanish debt. then we saw stocks spike 118 points because there were all these worries that no one would buy these italian bonds, these spanish bonds. and italy cam out and said you know what, we're going to take steps to take care of our huge debt problems.

>> you talked about italy and today berlusconi called a meeting and talks of a balanced budget amendment because of that. and sarkozy of france on the phone with angel merkel of germany today. >> just like we have our own debt problems that could spread around the globe, the big worry is that those countries with their big debt problems can spread right here and hurt businesses. and wind up hurting consumers. because we're all interconnected. when europe gets a cold, we

start sneezing over here. it catches really fast. we're all interconnected in many, many ways. brooke? >> we've got a trader, we've got an investor standing by later on in the show. i thank you for now, let me move on as we continue to juggle with all this news here. step on over. let's take a look at the massive flash flooding in charlotte and the spokesman for charlotte's fire department tells us here at cnn the first responders are conducting at least 16 rescues. and these are the first images we are just now getting in out of charlotte. neighborhoods are being evacuated and also some of the cars. in this flooded creeks in the downtown area. we also heard reports of a partial hotel roof collapse. we haven't just heard reports. we talked to the guy on the phone who shot that video. i want to also bring in schad.

so all of us together here, and quickly, eric, we're looking at your video again. this is the kbaes suites, the roof more or less imploding because of the weight of the water. what was that like just standing in there and seeing it shooting down? eric, you with me? there you go. >> oh, okay. >> let me just reset, what it was like to see the water rushing through this hotel roof? >> i got to tell you, it was insane. i've never seen anything like it. it's not something you ever expect to happen. then the next thing you know, the ceiling is fwaling down. nobody knew how to react. i have to give the hotel a lot of props because they really did pull it together really quickly. but it was insane. i've never seen anything like it before. it was raining so much. there was water everywhere. >> that was water running

through the electrical circuits there. were they telling you to be back. i think instinctually everyone was kind of keeping their distance. you could see it coming through the light fixtures. if you actually see on the video, i kind of pan down, you can see the water coming towards me. >> has it stopped rushing down? >> i'm sorry? >> has it stopped rushing down? >> yes, it has stopped rushing down. to be honest the rain came and went so fast, but so fiercely that i mean, that's why -- i mean, you can see obviously the weight of the water is -- the hotel pipes couldn't even handle the magnitude of it. but it's since reseeded and we' been able to keep it under control at the hotel, but pretty awesome experience. the fire department showed up. they had all hands on deck. it was pretty intense. >> all right, eric, thank you. you can see the sheet rock.

>> the roof just coming down. the fire department very, very busy. we talk to the captain. he talked about 16 different rescues. let's look at the video that we just got in from news 14. here we go. some people standing around. you can see this guy. they are doing swift water rescues. i saw a boat earlier. this is not just trying to get, you know, people out of their cars as they've given through some of this higher water. this is hopping into boats. >> even though the captain says we haven't done that, the problem is the water is still rushing down rivers, rushing into rivers and creeks and streams. when the rain runs all over the place, people are driving into that water, the cars are getting washed away and then firefighters and rescue squads, rescue teams have to go get those people. don't do it. turn around.

just take your time. >> i like how he said it was fast and fierce. let us know if anything changes. 500 points down in the dow yesterday, so what's your reaction to seeing the numbers settle. >> well, it was clearly a dramatically volatile day. we opened up about 170 on the strength of a better than expected employment number. it took about 20 minutes. then we went minus.

and then we went down 200 points. and then back up over 100 points. and ended up closing up about 60 or 65. with pretty heavy volume. much more than we saw yesterday. i don't know. you know, perhaps the markets are trying to find some legs here. i don't think we're out of the woods yet, but clearly on the strength of yesterday's big selloff, perhaps we're just a little oversold technically. and i think some buyers are putting their toe in the water today. sellers aren't finished, but obviously there were some buyers. and therefore that dramatic vol tifty. >> what do you mean the market is growing some legs? what does that mean? in my speak? >> in your speak well, it's my speak for simply saying that perhaps, just perhaps some of the buyers move back into the marketplace today.

so you had more of the internal struggle if you will. unlike yesterday where there seemed to be a complete absence of buyer, down 5% on the day, just slightly over 500 points, today we certainly had some downdraft, but, you know, we didn't -- they didn't stick like it did yesterday, and so i would say the market has legs, simply means that maybe there's some biers starting to, you know, move back into the market. some meaningful buyers, not just traders. >> why is that? do you typically have more participants in the market in the summer months? i mean, why are more people, to use your phrase, sticking their big toe in the waters. why? >> because the market is down over 10% in about eight or nine trading days. and basically that would indicate the market is way oversold.

the southeasterlies wither saying you keep the cheese, just get met out of the trap. when you get into an environment where emotion is really driving the decision making when it comes to stock decisions, and it happens to be on the sell side, i think what happens is you attract bargain munters. very few stocks have escaped the selloff. >> you have a son and daughter who work with you on the floor. they don't have to come to you for advice, but in term of saving and investing, i know they have little ones, they have to think about this. people watching at home are saving and investing and looking, at least some relief that we're in the positive territory today. what's your advice?

. >> my advice is the same today as it was yesterday. life goes on. when you get dislocations like we're having now, and this does not indicate we're having a bottom. i don't know where the boomtment bos or tops are, but stocks sometimes just get cheap. and i think those people that have longer term horizons can probably use these kind of moments to maybe do a little cherry picking, if you will, or to put a little toe in the water. clearly some stocks today are a lot cheaper than they were ten trading days ago. and, you know, it's a fire sale in a sense. and as i always said yesterday, when wall street has a firesale, you know, nobody comes. the reason they don't come is because they're scared to death. >> scared of getting burned. >> well, they're scared to death. but when you feel the pain in

the pit of your stomach, what i've learned over the 50 almost 50 years i've been doing this, the right thing to do this is not push yours away from the table but perhaps to pull yourself up to the table and basically do a little prudent investing, because the dust will settle, life will go on and four months, six months, a year down the road, perhaps we'll look back at these prices and seau, you know i wish i had. you know, i wish i did. and because wishing isn't a good strategy, but there is an opportunity here if somebody has long-term horizons and have done their homework. >> after the break, we're going to take you live to the white house for the president's reaction to the latest job numbers. the report is a mixed bag. and we're also continuing to watch these images coming out of

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jobs. not great, but better than both may and june. unemployment rate is down just a smidge. now 9.1%. let's look at the president saying today we have got to do better at calling on congress to act. >> when congress gets back in september, i want to move quickly on things that will help the economy create jobs right now. extending the payroll tax credit to put $1,000 in the pocket of the average worker. extending unemployment insurance to help people get back on their feet. putting construction workers back to work rebuilding america. those are all steps we can take right now that will make a difference. standing by for us are dan lothian live at the white house, jay luke, a senior portfolio manager in san francisco, and jay powell, who's been good enough to stand by, who was treasury undersecretary for finance in the george h.w. bush administration.

dan lothian, i want stoo begto with you. do they have any other ideas how they can create jobs? >> i'll add to that list the president has ticked off. the trade deals. to be fair, these things are not insignificant. it will mean support for people who are unemployed. also, it will mean construction workers who will be able to get back to work. the point the white house is trying to make is that you have to start somewhere. is there the magic bullet? no. but this is a good place to start where perhaps you can get some bipartisan support. having said that, there is a lot of frustration out there, not only among americans, but also critics up on capitol hill saying the president has been at this now for more than to 2 1/2 years yet the economy continues to struggle. what else does the president have to offer? the white house saying there's other things they're looking at but at this point it's unclear what those other things are, brooke. >> dan, stand by. i imagine you're going to echo

what ted dpi just told me in that this is a great time to buy, considering how down the dow was around this time yesterday. what advice are you giving investors who are calling you out today. >> right, good to be back with you again today, brooke. like we were talking yesterday and reiterate what teddy was saying earlier, we think this is an excellent time for investors to start positions or adding to their best ideas. today we see the dow and the s&p 500 trading 4 times forward earnings. gdp in the 1% to 2% range going forward. unemployment definitely trending down. the corporate outlook is robust. 10% to 12% earnings growth going forward. these are good indicators for equity investors. if you have a long-term horizon, this is an excellent entry point to take advantage of sellers'

panic and add to your existing position where is you see your bex equity ideas. >> let me go to jay powell. when we left off, we were talking jobs numbers. it was, you know, semiencouraging in that it created 117,000 new jobs. this is a reality check. still 13.9 million americans unemployed. nearly half of those, 44%, are long term, meaning more than 27 weeks without work. what does that say to you in terms of the -- just the difficulties in today's job market? >> it's a very sick job market. many economists predicted it will be a long, long difficult slog to get back to a level of job creation that we need. at least two or three times greater than what we're seeing. >> dan lothian, we've been talking a lot about cutting, cutting spending, we've --

goodness, we know about deficit reduction and cuts there. a lot of people say look, the president is cutting when the government should be spending. it creates that cycle, building confidence. people buying. what about the white house taking that sflu. >> the message you hear is that there needs to be a balanced approach. cutting but also investing in technology and education. but when it comes to stim us, we heard from the president's outgoing economic adviser who said the following, quote, straight up government stimulus, warranted at a moment when the private sector is in free fall is a different moment than the economy we're in right now. essentially he's saying that private sector jobs, business growing ever so slightly, and so that's where investments need to be done. but at this point, there's no need for any kind of stimulus. >> jay loop, final question, you get it.

we were looking at blue chip stocks yesterday, all 30 on the dow down. when you say look, this may bch a great time to buy and some people have been looking at apple. it's been a little too pricey. would that be a good stock to buy? what's the best bet now if you want to put money in the market? >> apple is an excellent idea. it's not one we own in our frunds because we're focused on property and lodging second to, but that's a great long-term holding that investors can be confident is going to create a good balance sheet going forward. we like a global and operator of business and hotels. oil is down below $90. if you're doing traveling at all, if it's in north america, asia, latin america, or europe, both businesses and consumers are traveling. and now would be an excellent time to add to core lodging

positions. even really, your best ideas that are good values in any major sector that has global revenue exposure. >> okay. good advice on this friday afternoon. jay lupp, jay powell, dan lothian, gentlemen, i thank you. have a great weekend. coming up next, for thousands of faa workers, better late than never. they are getting back on the federal payroll. but the agency's funding turbulen turbulence, not over quite yet. also nasa hopes this spacecraft here will teach us a little bit more about how the solar system formed. but it will take years to get to its destination. another good thing about geico is, they've got, like, real live people working there 24/7.

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minutes ago, the president signed that bill that put thousands of furloughed workers back on the job. congress will have to take the matter up again. they wept on recess without providing funding to the agency, leaving many, many federal workers without pay, costing the goth millions of dollars in lost revenue. it was one year ago today when a mine collapsed in chile, trapping those 33 miners inside. those rescue efforts capturing the world's attention for more than two months before they were pulled oit of the ground using that special capsule. do you remember this special moment of celebration. this week, four of the miners travelled to washington, d.c. to

attend the opening of a monument in their honor at the smithsonian. typhoons in japan caused travel drupg disruptions. the storms now headed to china. land fall is expected within a couple of hours. >> nasa's spacecraft carrying juneau heading off for the fifth and largest planet from the son, jupiter. it's expected to reach its destination in five years. and make 33 orbits of jupiter during the mission. it will get a bird's eye view of the planet and is expected to pass over the north and soul poles for a closeup look of the bright aurialis.

the last encounter with jupiter was 16 years ago from galileo. rick perry says we're a nation in crisis and the possible presidential candidate asked for stations to pray for god's health. so did the faithful flock to texas? that's next. l to help your engie l to help your engie run more smoothly by helping remove deposits and cleaning up intake valves. so when you fill up at an exxon or mobil station, you can rest assured we help your engine run more smoothly while leaving behind cleaner emissions. it's how we make gasoline work harder for you. exxon and mobil.

>> jim acosta is attending governor rick perry's day of prayer event. and are people expecting government perry to announce his presidential candidacy anytime soon? >> well, you know his aids have said all along that he is expected to make some kind of an announcement at the end of the summer. we don't expect him to make that announcement here tomorrow. he is supposed to speak at this event from one organizers tell

us. was we're not sure what he's going to say, how he's going to say it. this event has generated a lot of controversy ever since rick perry called for this event, what they call the response. people say this is really tearing down the wall between church and state and part of that is because this is really a christian-only lineup of pastors that we're going to be hearing here tomorrow at reliant stadium in houston. but besides, you know, just the prayer that's going on here. they're also calling for fasting. and the reason why they say is the country is in crisis. if you go to the website for this event, the response usa.com, it says clearly they hope people will pray and fast at this event to help this country. they say there's a variety of things that are wrong, the economy, social values and mor rays. and they're hopeful that have coming together, bringing all these people together from all over the country will somehow

help the country get on the right track. >> i remember you mentioning one of the last time wes spoke about governor perry. august 16, i guess it happens tomorrow. so we'll be waiting to see if there was any announcement coming from the governor after tomorrow. jim accoosta. thank you so much. back to the flooding in charlotte, north carolina. five, six inches, rising waters, shutting down parts of three major highways, first responders are rescuing at least 16 people trapped in their cars. clearly some of these children there popping them in some of these boats from their own homes. they've evacuated at least two downtown neighborhoods here near some of the creeks that have clearly spilled out, part of a hotel roof. the water just rushing through the kreeling there. chad myers. it continues. >> it does. only because the water is still

running off. now the five and six-inch rainfall totals are people literally going to their backyard, looking at their rain gauge saying it only rained for two hours. how can it be so full? when it comes down that fast, it can't run off. plus there's always this concre concrete. plus you get trash and debris in the gutters and you can't get water to go down the drains properly. that's why we call it flash flooding. because it happens in a flash. >> that quickly. let's get the video if we still have it from the hotel. we talk to the young man who shot the video, all the water that had come crashing through the ceiling. here it is. look at this. coming through, remember he said to your point, flash flooding. flashing through the ceiling. came very quickly. just to show the tremendous force of this water. >> this scares me because the water is running through power

lines. >> the lights. >> obviously the lights are still on, the power is still on. if you're walking in that puddle, you may very well have been shocked. they were keeping all the people back. it's that dangerous when water is running and then the sheet rock falls down because it can get so wet. no longer is it dry wall. it's wet wall. it's very heavy. >> chad myers, we'll stay on the story in charlotte. things could change. from a very wet situation in charlotte, we're going to talk heat here. extreme heat is the reason for several athlete deaths this week alo alone. and experts say there will be more if parents don't demand specific changes. what you need to know, parents. coming up next . and this -- activists in syria say security forces killed as many as 15 people today alone and open fired outside a mosque during friday prayers.

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here we go, the stock market has many, many ups and downs here. volatility, the key word. a violent crackdown on protester continues. and a heat wave for high school football. let's begin with you there on the new york stock exchange. at least we're going into the week on a positive note. >> we are. and what a wild ride it was just to get there. we had pretty tame results in the end there, brooke. the blue chips have been up as much as 172 points, down as many as 244. vol it willty really the word of the day. the dow, the s&p, the nasdaq, all tumbling 6% to 8%. making it the market's worst week since the financial crisis

in late 2008. we had a better than expected jobs report. 117,000 new jobs were created. then we had news out of the europe, that's europe's version of the fed. it says it's ready to buy up italian and spanish debt. there had been worried no one would buy its bonds. we saw the market rally on that, but clearly, brooke, this is still a market on edge. get ready for next week. the volatility expected to continue, investors getting new economic reports from the health of the economy and still they're going to keep an eye on the euro zone. >> down 512 yesterday, up 60 today. i'm sure we'll be talking more. thank you very much. there's no ease on syrian's violent crackdown on anti-government protests. jill dougherty with the latest on the fighting. also the secretary's harsh words.

what is secretary clinton saying? >> in terms number one of how many people have died, it's so hard to know. there is very little information coming out. but it could be, you know, hundreds. the secretary has said that 2,000 so far, they're confident in saying, unfortunately, have died in syria, period. and she even mentioned yesterday when she talked about this, a 1-year-old child. i mean, this is affecting men, women and children. bur brooke? >> how likely is syria to follow the ambassador's request to stop the violence? >> not likely at all. nothing has worked so far. although when you mention the ambassador, he was back here in washington, remember, ambassador ford is the one who went up to that city of hama and was mobbed by syrians happy to see him. he came back to washington for

meetings and he's back again. and they're making it clear at the state department he's going to continue to talk directly to the government and warn them the violence has to stop. and then also, almost more interestingly, he's going to continue to talk to syrian citizens. they're not saying he's going on any trip soon, but they say he's going to engage and also talk about helping them in the transition, and the transition as we know, means post president assad transition. >> jill dougherty thank you so much. 9 latest there from syria. and next, let's go to george howell. i'm sure a very warm amp there? gainesville, georgia. i know right around this time of the day, it's the hottest time of the day. i don't see any guys in pads yet. where are they? >> the sfootball team is not hee

now. so far this year, there have been three heat related deaths due to the heat. so we find coaches practicing early in the morning. >> is there a cutoff temperature where coaches say okay, we're shutting this practice down? what changes should parents demand? >> right, well, it really varies. even the individual school, there's no cutoff. however, we've seen several practices. a lot of these coaches monitor what's called a wet bulb. >> i'm sorry, they monitor a what? >> it's called a wet bulb. so basically it monitors the humidity and temperature. when it gets to a certain level, a lot of coaches make a decision, no more practice, let's go inside. >> just had to clarify. i can't delve deep into my

football past. still ahead here, our team put together a unique look at the tradi trading day on wall. you have to stick around and watch this. what's in store for wolf blitzer's next two hours. medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when you call now, you'll get this free information kit... with all you need to enroll.

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it has been called the most complicated bank robbery in american history. a pizza delivery man robs into a bank and around his net sits a ticking time bomb. what happened next took the feds years to figure out. drew griffin reports, here's a preview. but first, i have to warn you, some of the images you're about to see are graphic. >> 911, what's your energy? >> yes, we have just been

robbed. >> was anyone hurt? >> no, he just walked out the door. >> august 28, 2003, erie, pennsylvan pennsylvania. within minutes of robbing a bank, ryan wells is surrounded by police, cross legged on the ground and handcuffed. under t his t-shirt is a bomb. he asks police to call his boss, then save his life. 25 minutes tick by and then the device begins to beep. in an instant, the bank robber is dead. the death of brian wells in this parking lot that day turned out to be only the beginning of the most elaborate, intricate and some say still unsolved bank robbery case the fbi has ever had.

it was a hot thursday afternoon. jane hyde was expecting to see her brother at a party that night, but she had one errand to run. a quick shopping trip on erie's peach street. but there was trouble. police had blocked the road. cops and cars everywhere. she turned around and went home. it was only later that night watching the 10:00 news she learned what that traffic was all about. >> my kids are sitting on the couch and then the story airs of there's a bank robbery and a man came into the bank with a bomb on him. >> you're recognizing your -- >> my brother sitting there with this bomb on hmm and i'm thinking okay, the police have him, they'll find out who did this to him. then as it goes on, brian exploded. the bomb went off. brian is dead.

i'm like, i can't believe this. >> it took the fbi years to sort through the evidence and decide who was responsible for the robbery and his death. did they get it right is the question? find out opportunity night 8:00 eastern. cnn presents a twisted tale. and now to the situation room with a quick preview of what's coming up for the next two hours. wolf blitzer. and first wolf, we put together this video. i want to show you this time-lapsed video of the roller coaster ride on wall street stud. stocks going up and down. they go up, they go down, they go up, they go down, quite a week, quite a week there in new york, wolf. >> i think a lot of traders were just relieved that it ended, the can relax a little bit over the weekend. they're going to be up sunday night to see what the asian markets are doing.

we're so self-oriented, we think so much of what's happening on wall street as a result of what's happening in the united states. we don't appreciate a lot of what's happening on wall street is the result of what's happening in europe or in asia. they've had some serious economic issues, but when you get countries like italy and spain, those countries are not only too big to fail, they're too big to bailout. you can bail out of glees, portugal, ireland, you can't bail out of italy or spain if you think the lehman brothers collapse a few years ago was a big deal. we have to pay more attention to it, see what's going on. i know the traders on wall street pay close attention to it.

do you want to know who's appearing 234 "the situation room" goulsby is headed back to chicago. he's an economist. we're going to be speaking with him about what's going on. did you see him on "the daily show" with jon stewart. >> no, i missed it. >> he was actually very, very funny. he had a good one-liner i'm not going to share it with you now. maybe in the course of the next two hours. we'll get a assistance of what's going on. we'll also have the latest from libya, syria, lots of news happening. >> by the way, i do have your

blog open. i think the headline would certainly pique some people's interest. cnn.com. >> two relatively easy ways that american taxpayers can save billions of dollars. is the obama administration able to do it. >> cnn.com/situation room. wolf blitzer, see you in a couple of minutes. >> a texas jury will decide whether warren jeffs will spend the rest of his life in prison with graphic recordings and a bizarre defense strategy. it did not take long for jurors to convict him of sexual assault. it moves into the sentencing phase. that's next. let me tell you about a very important phone call i made.

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when you call now, you'll get this free information kit... with all you need to enroll. put their trust in aarp medicare supplement insurance. plus you'll get this free guide to understanding medicare. the prices are competitive. i can keep my own doctor. and i don't need a referral to see a specialist. call now to get a free information kit. plus you'll get this free guide to understanding medicare. and the advantages don't end there. choose from a range of medicare supplement plans... that are all competitively priced. we have a plan for almost everyone, so you can find one that fits your needs and budget. with all medicare supplement plans, there are virtually no claim forms to fill out. plus you can keep your own doctor and hospital that accepts medicare. and best of all, these plans are... the only medicare supplement plans endorsed by aarp. when they told me these plans were endorsed by aarp... i had only one thing to say... sign me up. call the number on your screen now... and find out about an aarp medicare supplement insurance plan.

you'll get this free information kit... and guide to understanding medicare, to help you choose the plan that's right for you. as with all medicare supplement plans, you can keep your own doctor and hospital that accepts medicare, get help paying for what medicare doesn't... and save up to thousands of dollars. call this toll-free number now. >> it took a texas jury four hours to find warren jeffs guilty of raping two underage girl, but the penalty phase, the sentencing phase could take days. sunny hostin is on the case. warren jeffs wasn't even in the courtroom today. now he is the letting one of these attorneys take over for him. was he one of the seven defense attorneys he fired initially? >> that's right. he's sort of been his stand-by

counsel during the guilt phase of this. warren jeffs did lose this case. he was convicted of two counts of raping children. at this point, he's letting his stand-by counsel do what he is supposed to do and represent him to the fwes of his ability. >> can we expect this punishment phase, this sentencing phase to take longer than it would if he continued to represent himself? >> well, i think so. i think it's quite possible. the interesting thing is this is real li the important part of the trial. some of the evidence, it's really fascinating. warren jeffs was married illegally 78 times, 24 of which he was married to children under the age of 17.

apparently he presided over 67 illegal marriages, either witnessed them or presided over them. and the prosecution has evidence of over 60 instances in which he broke up families. he reasined wives to other husbands and reassigned children to other families. this is some of the evidence they're going to look at in terms how long he's going to be in prison. >> i'm picking my jaw off the floor as you mention those numbers. what ten sense cousentence coul? >> he was found glgt of aggravated assault of a child under the age of 14. he married a 12-year-old. he's looking at 5 to 99 years in prison or perhaps life in prison just for that count, the sexual assault of a child under the age of 17. he apparently also celestially married a 14-year-old. he's looking at two to 20 years. he could sfend the rest of his life in prison. that's why so it's so