la doll shea la dolce vita, the good life.talians, forbidden from putting in more than 48 hours a week. entitled to four weeks paid vacation, although most get six weeks. a full six months of maternity leave. and workers retire with a full state pension at 56 or after 35 years of work, whichever comes first. the result? italy's economy hasn't grown. they've borrowed too much. now no one thinks they can pay it back. so, the party's over? >> the party is more than over. it's been over for a long time, and if they don't move soon, there will be nothing left to party with. >> reporter: if you thought the debt crisis in greece was scary, consider this. greece is the world's 32nd largest economy. italy, the 7th. greece sees just $305 billion in economic activity each year. italy? $2 trillion. too big for a bailout. so, when greece's economy shook, we felt tremors. but if the boot falls, it would be seismic. >> italy's the third biggest bond market in the world. so, they just can't be ignored. so, you can see why investors around the

which brings us back to that dolce vita. young italians may not be living it, but many seem oblivious to the fact that it's up to them to build the country's economic future. what has been taken for granted in italy for so many years, a kind of family bargain may have to be called off as the euro crisis takes a swipe at both young and old in italy. paula newton, cnn, rome. >>> it's hard to imagine spending years getting a higher education, but yet the jobs just aren't there. well, the stock markets also remain volatile. inflation is raising its ugly head, and housing prices are still pretty depressed. so where can you find double-digit gains? wealthy investors have artful ways to increase their balance sheets. we'll explain after the break. >>> the call for a referendum in gres came out of the blue, sent markets in a tailspin straight into the red. it's another reminder about how much uncertainty there is in the marketplace and how news driven many of the conventional investment vehicles are right now. that has some wealthy

have you seen this ad for dolce and gabana? his torso alone is so sexy, that it is rejecting his shirt. ( laughter ) sexiest man alive should be like the supreme court-- once you are picked, you are sexiest for life. look at nick nolte. he was 1992's sexiest man, and look at him now. still sexy. ( laughter ) ( applause ) read the constitution, "people" magazine. until such time as mr. mcconaughey wants to step down, he is the beefcake in chief. and you are not to stain your cover with this misshabben homunculous. somebody had to say it. information, like all americans, i have pinned my hopes and dreams on the 12 members of the super congress. kerry, murray,-- i don't have to name them. we all grew up with the action figures. the origin story of the super congress is well known. it was created last summer because of a freak rift in the debt ceiling continuum. the president wanted to raise the debt ceiling. the house refused to do that without budget cuts, and the u.s. came perlsly close to defaulting until at the last minute bot

. >> in italy, it comes due for la dolce vita. and the fall of a legendary football coach. >> joe paterno is no longer the head football coach effective immediately. captioned by the national captioning institute --www.ncicap.org-- >> i think it is fair to say that debating is not rick perry's strong suit. i don't think i'm being a role here. at wednesday night passed a republican debate in michigan, he said he would eliminate three departments -- >> commerce, education, and what's the third one there? >> five. >> ok. commerce, education, and that -- >> epa? >> there you go. >> seriously? is epa the one you are talking about? >> no, sir. we were talking about the agencies of government -- >> you cannot name the third one? >> no, he could not name it. it was the department of energy, and one of the centerpieces of his campaign. those of a certain age can sympathize with gov. perry -- i do. but i wonder if this is it for rick perry, charles. >> he went on a one-day tour, including letterman, to make light of it, which takes the stin

fighting in parliament and all of us paying the bill for la dolce vita. >>> big blunder. the first nationwide emergency warning ends up playing lady gaga? >>> getting it right. boom earls searching for romance by the billions. >>> and gabby's story. never before seen pictures of congresswoman gabby giffords and her family. >>> good evening. tonight, there is a ferocious debate under way about the exit of a titan who has stood at the top of sports for 45 years. the pressure mounting even at this hour against penn state football coach joe paterno. he said today he will retire, because of the allegations that one of his top coaches sexually abused eight young boys. but tonight, everyone is taking sides on what he asked in return, to coach four more games. so, what is owed the alleged victims and the man who, for 45 years, stood for all that was good in college football? and this is the image he would like us to remember. paterno at the height of his glory, on the shoulders of a triumphant team. abc's dan harris begins with the developments at this hour. dan? >> reporter: hi,

dolce & gabana have super sized stars.osed to $5,900. keep a great pair of long trousers and keeps your, lengthens your legs. >> how do you ajoyed overdoing it. this is perfect on her. use accessories to pop it. you have all of your prints, mix and match with great accessories. i love the sequins with the stars. >> ladies, come on back out. you all look so fantastic. thank you so much. really appreciate it. i was looking for mary, our last model, thanks a lot. >> beautiful. you all look great. rachael, thank you very much. >>> up next one dish but four meals, making slow roasted pork in "today's kitchen." first this is today on nbc. ♪ >>> this morning in "today's kitchen step-by-step ♪ s-l-ooo-w roasted pork. "my family table: a passionate plea for home cooking." this cookbook came out of a conversation you had with your wife. >> i knew you were going to bring that up. >> yes. >> gentlemen out there, please never do this but i made the mistake of questioning my wife one day. >> what a fool you are. what are you feeding my

extra virgin olive oil, salt and pepper, drisled over the top, put the radicchio on top and gorgonzola dolcegreens, olive oil, garlic and a little ripilo solato. >> jason, delicious, thank you so much. >> thank you so much. >>> just ahead kathie lee and hoda welcoming a new member of the joy fit club who dropped a whopping 135 pounds. >> coming up after your local news and weather. bye, guys. [ male announcer ] are you paying more and more for cable and enjoying it less and less? stop paying for second best. upgrade to verizon fios and get tv, internet and phone for our best price online -- just $79.99 a month for two years with a 2 year agreement. it's an amazing holiday deal. but don't wait. it's only available for a limited time. so go to verizon.com/superoffer to sign up. act now and we'll add a special bonus -- $300 back. fios delivers the best picture quality, plus america's fastest, most consistent most reliable internet. spend the holidays saving money. switch to fios and get our best price online -- just $79.99 a month for two years with a 2 year agreement when you order online. sav

dolce & gabana have super sized stars.th the stars. >> ladies, come on back out. you all look so fantastic. thank you so much. really appreciate it. i was looking for mary, our last model, thanks a lot. >> beautiful. you all look great. rachael, thank you very much. >>> up next one dish but four meals, making slow roasted pork in "today's kitchen." first this is today ♪ >>> this morning in "today's kitchen step-by-step ♪ s-l-ooo-w roasted pork. "my family table: a passionate plea for home cooking." this cookbook came out of a conversation you had with your wife. >> i knew you were going to bring that up. >> yes. >> gentlemen out there, please never do this but i made the mistake of questioning my wife one day. >> what a fool you are. what are you feeding my children? she turned it on me and said if you paid half as much attention to feeding your kids as do you to feeding the customers, we could write a whole book. so that's the genesis of the whole thing. >> that's what happened. we start off with slow roepsed por roasted

extra virgin olive oil, salt and pepper, drisled over the top, put the radicchio on top and gorgonzola dolce5 pounds. >> coming up after your local news >>> we're following breaking news at 9:57. the washington capitals coach bruce boudreau was fired this morning. he's being replaced by caps former captain dale hunter. hunter will make his debut behind the bench tomorrow when the capitals host the st. louis blues at the verizon center. >>> we've got clouds above us out there right now. and rain on the way? let's find out from tom kierein. >> good morning, barbara. that will probably not arrive until around dawn tomorrow. between now and then a lot of clouds. we'll climb from the upper 60s to near 70. tomorrow cooler with occasional showers from the morning into the evening. stephanie, how is late morning traffic? >> still sluggish out there, tom. 66 inside the beltway. about 19 miles an hour as you do the crawl trieding to head towards the district this morning. a little volume by the legion bridge and slow approaching the dulles connector road. folks traveling onto the 14th street bridge, l

extra virgin olive oil, salt and pepper, drisled over the top, put the radicchio on top and gorgonzola dolceg 135 pounds. >> coming up after >>> good morning. it's 9:56. i'm marla tellez. santa clara county will open three homeless shelters today to provide emergency beds during the cold winter months. the shelters in gilroy, sunnyvale and san jose will provide 355 beds each night for the next four months. beds are allocated on a first come, first serve bases. more than a third of those who use the beds during winter are chronically homeless, meaning they've been homeless more than a year. 2011 survey found there are more than 7,000 homeless people in santa clara county. >>> oakland is putting the freeze on new pawn shops to curb crimes. oakland lawmakers saw many secondhand dealers want to get cash for stolen gold. they're putting a moratorium on pawn shops to give them enough time to tighten rules and regulations. city leaders say the most affected area is the fruitvale district which has seen a spike in robberies this year. >>> very foggy start to your workweek. meteorologist christina lo