every count. jerry san dusk seled away in handcuffs following his conviction on multiple charges of sexual abuse. armen keteyian reports on what's next. does a pickup in new home sales in one of the most desirable locations in the country signal an upswing for the housing market? lee cow an reports from orange county, california. >> just have to act fast, i guess in this market. >> the massachusetts health care law mitt romney signed was a model for president obama's plan. jeff glor looks at how it's working six years in. and china tees up. chip reid shows us young golfers on the rise in a country where the sport was once beganned

captioning sponsored by cbs this is the "cbs evening news." >> good evening. i'm norah o'donnell. the sex abuse trial of jerry sandusky ended in a long series of guilty verdicts late last night. the former penn state assistant coach, aged 68, now faces the prospect of life in prison. chief investigative correspondent armen keteyian joins us now from bellfont, pennsylvania. armen, good evening. >> reporter: good evening, snora. it took about 20 hours of deliberations but in the end a jury of seven women and five men delivered a powerful message on behalf of what the prosecution calls 10 lost souls. jerry sandusky's first full day behind bars as a convicted pedophile came after a dramatic, chaotic. standing and staring at the jury foreman sandusky heard a drumbeat of guilty time and time again, 45 times in all, before

his bail revoked, he was escorted off to jail. outside, a large crowd erupted when the verdict was announced. pennsylvania attorney general linda kelly made clear for 10 young boys, justice had finally been served. >> this defendant, a serial child predator, who committed horrific acts upon his victims causing lifelong and life-changing consequences for all of them, has been held accountable for his crimes. >> reporter: the guilty verdict included 17 counts of the most serious charges-- involuntary deviate sexual intercourse and unlawful contact with minors. each count carries a maximum of 20 years in prison, plus 10 of endangering the welfare of a child, seven years max. and as kelly made clear in an interview with cbs news, penn state university was not without blame. >> it's hard to overlook the fact that penn state, the campus

of penn state, the physical campus of penn state, was the area where some of these assaults took place. >> reporter: lead defense attorney conceded it was the tearful testimony of the victims plus the testimony of mike mcqueary that sealed his fate. >> too much of a mountain of evidence, aming when evidence with 10 separate kays. >> reporter: he told cbs news sandusky was absolutely going to testify in his own defense, right up until the 11th hour when news broke that matt sandusky, the family's youngest adopted son had informed prosecution he, too, had been abused by sandusky as a young boy and was available to the prosecution as a final rebuttal witness. >> even though gerry and his family believed that matt was lying or they could prove it, it took the guts out of our defense. our defense was premised on

jerry testifying. >> reporter: sandusky faces life in prison. norah, he will be sentenced within the next 90 days. >> now, armen, how vulnerable is penn state where prosecutors say some of this abuse took place? >> well, the university is vulnerable. most of the abuse took place in sand dusk's basement, but there were several incidents in the football locker room showers, norah. >> and this conviction does not end the criminal case, right? >> reporter: absolutely not. there are two top-ranking penn state officials, former penn state officials who have been indicted for lying to the grand jury. also, penn state has launched its own internal investigation, headed by former f.b.i. director louie freeh, and his report is due next month. >> armen keteyian, thank you. and to conservatism 2012 now, mitt romney is in park city, utah tonight, hosting a retreat for a select group of wealthy republican donors but unlike president obama, romney is keeping his top fund raisers'

identities a secret. here's terrell brown. >> reporter: 700 republican heavy hitters have joined mitt romney in park city, utah, this weekend. the three-day session is designed to get the campaign's biggest donors up close and personal with the candidate himself. included on the list, romney's bundlers, individuals who have raised about $250,000 each. >> a bundler is a volunteer fund-raiser who fans out across the country looking for money, tapping their networks on behalf of the presidential candidates. >> reporter: sheila krumholz of the center for responsive politics says romney won't reveal who his bundlers are. there's no requirement he publish the list, but his failure to do so breaks with campaign tradition. the obama campaign posts any supporter who bundles $50,000 or more on its web site. and republican candidates george w. bush and john mccain both disclosed their bundlers. >> i think it does lead to questions of trust. what is he trying to hide?

in not providing the police of bundlers? >> reporter: romney is also leaning heavily on large individual donors who can give up to $2500 directly to his campaign. small donors giving $200 or less make up only 13% of romney's campaign donations compared to 43% for president obama. and while romney hosts this party in utah, there's another closed door meeting in san diego held by two conservative super bornes, billionaires charles and david koch. they run the political action group americans for prosperity. in a pledge to raise $400 million to help put romney in the white house. romney wasn't expected to keep pace with president obama, who broke all fund-raising records in 2008. but thanks in part to romney's personal courting of wealthy donors, last month he outraised the president by more than $18 million, norah. >> terrell brown, thank you. and we learned this week that americans bought fewer homes in may than in april.

now, since sales bottomed out in 2010, existing home sales have struggled upward. they slipped again last month by 1.5%. still, as lee cow an reports, there are some bright spots. >> reporter: something's about to happen on these weed-infested 389 achers in orange county, california, that goes against everything the nation's housing market seems to be saying. developers are about to build 2,000 brand new homes on that land. why put new homes on the market when nationwide existing home sales are in the tank? well, simple-- >> there's a need. interest rates are at historic lows, and i think people are tired of waiting. >> reporter: it's not a hard sell. orange county is one of the most desirable living locations. picky buyers who have been waiting to buy want to buy hereby a far cry from inland california suburb where's many buyers overpaid and remain underwater. but what happens in orange county doesn't stay in orange county.

and that's what has the rest of california hopeful. >> orange county does come out of the recessions faster and sooner than any other part of the nation, traditionally. >> reporter: realtor gail mart sin as busy as she was at the height of the housing boom in 2005. >> took a buyer out to see a home. by the time i got there half an hour after it was on the market, it was already sold. >> reporter: while that's good for her, there is a downside. the shortage of good homes, she says, is driving some potential buyers out of the market. >> great neighborhood, great schools. >> reporter: many are going for far above the asking price, which is squeezing buyers like morgan perry, who thought 2012 was her year to take plunge. >> everyone that i've been on the verge of "oh, i love this one" it sold so quickly. so it's definitely competitive. >> reporter: so far, she's been out-bid every time by those with deeper pockets. >> somebody, 20% down is never going to get the house over somebody with cash. and we have a tremendous amount

of cash coming in to orange county right now. >> reporter: there's no shortage of serious buyers it seems. just a shortage of something to buy, which is why that empty field may be so full of promise. lee cowan, cbs news, los angeles. >> tensions are high in egypt tonight on the eve of the announcement of the winner of last weekend's presidential election. and 16 months after the arab spring that toppled hosni mubarak, tahrir square is once again the focal point. charlie d'agata reports. >> reporter: dueling demonstrations in cairo today showed how fractured egyptian politics are. both sides are claiming victory. that's the only thing they have in common. in tahrir square, members of the muslim brotherhood marched towards the parliament that was dissolved last week. >> we are confident in god.

we are confident in our people. we are confident in ourselves. >> reporter: it was a different story across town for the rally for the former military officer. the state election commission delayed the results saying it would take long tore investigate charges of fraud, but that's fed conspiracy theories the race was being fixed for shafik, the military's choice. the muzz lum brotherhood has vowed to wage a new revolution if shafik is declared the winner. >> even though you have lots of activists threatening to go to the square, et cetera, it's nothing like what happened with mubarak. then it was in the millions. when the muslim brotherhood makes statements if shafik is elected we're not going to

accept that. >> they are far from taking to the streets and take over power. >> reporter: you can sense the excitement building in the square tonight, but, norathe fight for the presidency is just the beginning. the muslim brotherhood had a majority in parliament, were getting ready to write the constitution until nine days ago. that's when the supreme court dissolved the parliament and the generals ruled they would decide who writes the new constitution. >> coming up next on tonight's cbs evening news, tropical storm >> coming up next on tonight's cbs evening news, tropical storm storm debby forms in the gulf of mexico. but not since i learned i have... postmenopausal osteoporosis and a high risk for fracture. i want to keep acting but a broken bone could change that. so my doctor and i chose prolia® to reduce my risk of fractures. prolia® is proven to help make bones stronger.

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chances. many are evacuating workers from oil platforms in the gulf. it's a weekend of battling wildfires in the west, a mix of hot, windy, and extremely dry conditions is fueling in six states. firefighters were forced to retreat from a fire that scorched more than 118 square miles and destroyed nearly 200 homes. in utah, a fire ignited by target shooters chased more than 2500 people from their homes south of salt lake city. the spook is expected to rule next week on president obama's health care plan, a plan with an individual mandate modeled after the one already implemented in massachusetts. tonight jeff glower has the first of two reports on the plan that was put in place by mr. obama's rival for the white house. mitt romney. >> reporter: when mitt romney signed health care reform in massachusetts six years ago--

>> congratulations. ( applause ). >> reporter: his goal was simple-- >> every citizen with affordable, comprehensive health insurance. >> reporter: the key was an individual mandate requiring every citizen to get coverage or face fines. in his first presidential run, on romney defended the mandate as a personal responsibility. >> don't be free riders and pass on the cost of your health care to everybody else. >> reporter: m.i.t. economist, jonathan gruber who helped romney design the plan, said insurance companies supported it because they got more customers. in the past six years, 439,000 massachusetts residents who didn't have health insurance got it, many with government subsidies to buy it. the state went from 90% insured to 98%, the highest rate in the nation. school program director andrew herlihy enrolled inaise subsidized plan that costs $272

a month. >> i was always that guy who could dunk and was invincible, never got hurt in my life. >> reporter: until he blew out his knee playing basketball. the operation he needed cost $30,000, a cost he was spared because of insurance. >> worth its weight in gold, worth every pen tow me. >> reporter: the penalty for not enrolling can range from $19 a month to $105, depending on income. in massachusetts there is not just an individual mandate to buy insurance. there is also an employer mandate to provide it. almost 80% of employerses do. bakery owner george montillio is among those who don't. >> if we had to put health insurance into our company, that would totally make us unprofitable. >> reporter: with 30 full-time employees it would cost him $300,000 a year. instead, he chooses to pay an annual fine of $295 per employee. >> absolute mandate, that's just not right. we feel we should be able to

make our own decisions to run our business. >> reporter: hospitals, like boston's mass. general, are seeing more patients, but fewer visits to emergency rooms for routine care. garyy gotly, the c.e.o. of partners health care, which owns nine upon hospitals. >> it's too great a fear of coverage reform, and almost villifying the experience that we've had here, without really understanding how successful things have been. >> reporter: who made out the best in all this? >> right now i think the people have made out the best. >> reporter: however, in massachusetts, like the rest of the nation, health care costs continue to rise. jeff glor, cbs news, boston. >> o'donnell: and tomorrow, jeff reports on the cost of the massachusetts health care law. ahead, the growing business of microloans. that story is next.

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of delia alba's effort to pull her family out of poverty. her food stand and grocery score would never have been possible without a microloan, a relatively new kind of loan given to those below the poverty line. microloans were pioneered by muhammad yunus. his gram started the idea of giving poor people money to smart their own businesses. it became the model as grameen america. grameen lends to groups of five people in the same community starting different businesses. all five meet weekly with a loan officer to make payments. the idea is that peer pressure helps. >> we do everything the opposite of the way banks do things. >> reporter: grameen america's c.e.o. stephen vogel says that grameen is not a charity. it is capitalism at work. >> they want the borrower to come to their office. we go to our borrower. they want there to be assets and collateral. we do not need collateral. they need credit scores, we do

not. >> reporter: because collateral is not required interest rate are 15%, higher than for most small business loans. their program is work. grameen reports a default rate around 1%. >> i don't think anybody else gave them the opportunity our believed in them and trust them that they were going to take the money and make it work for hem and make it prosper for them and their family. >> reporter: the average loan is $1500, small change to a bank, a lifeline for those fighting poverty. >> o'donnell: ahead, china's elite go golf crazy, giving the game new drive. that story is next.

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>> o'donnell: finally tonight, china is teeing up to join golf's elite. this month, a 14-year-old from beijing became the youngest person to qualify for the u.s. open, and 23-year-old became the first chinese national to win a major title. but the game is not for the masses just yet. here's chip reid. >> reporter: at china's most exclusive schools, they start taking aim at that little white ball while they're still in kindergarten.

by age eight, boys and girls are playing in 18 hole tournaments while eager parents hover nearby some hoping their child will be another chinese hero like andy zhang, who at age 14 recently became the youngest golfer ever to play in the u.s. open. for years, golf was banned here in communist china. even today, critics call it green opium because it's expensive and addictive. the cost of playing in a children's tournament can top $1500 u.s. dollars, about half what a chinese factory worker makes in a year. but in a country where there are now more than a million millionaires, golf is the latest status symbol and its popularity among china's wealthy is soaring. >> the number of golf courses open-- >> american golf pro jack leer recently moved to china. >> they will work and work until it's done. >> reporter: many of his young students dream of being golf

super stars. he wants to be a world champion, just like his idol, tiger woods. 13-year-old ujo liu, who goes by leo, says he wants to play golf in college in the u.s. his concerned mother said it's good to have a hobby but at his young age his education and homework are more important, not exactly's leo's dream. >> i don't like homework but i have to do it. >> reporter: leo said he'd play golf all day if he could, but try telling that to his mom. chip reid, cbs news, beijing. >> o'donnell: and that is the cbs evening news. later on cbs "48 hours mystery." i'm norah o'donnell, cbs news in new york. good night and have a great weekend. captioning sponsored by cbs captioned by media access group at wgbh access.wgbh.org