cnn's christine romans is here to explain. how does this affect everybody? >> we know in the economy, many people think the free fall is over. but this shows you the house is still a very big question mark. this report shows the number of homes that it expects will be under water, the number of homeowners under water on their mortgage by the time there is a recovery. right now they say there are

cnn's christine romans is here to explain. how does this affect everybody? >> we know in the economy, many people think the free fall is over. but this shows you the house is still a very big question mark. this report shows the number of homes that it expects will be under water, the number of homeowners under water on their mortgage by the time there is a recovery. right now they say there are about 14 million homeowners are under water in their loans, that means they actually owe more on the house than it's worth. by the first quarter of 2011, they say that'll be $25 million. that'll be almost half of all mortgage holders, heidi, will owe more than it's worth. >> so it's not getting any better. >> no, and it seems to be the problem, the number of foreclosures, people are losing their jobs, and that feeds into the foreclosure crisis. the fact that home prices keep falling and just now recently shown a little glimmer of stabilization, what this report suggests is that recent sign of strength should be taken with a bit of a grain of salt, quite frankly becau

christine romans here minding your business. for credit card theft got blown away, didn't it, by the latest alleged scam. >> this is 130 million credit and debit cards breached. 130 million. this is a global -- a worldwide scheme to steal your personal financial information from the computer systems of five different companies and then disseminate, sale, who knows what happened with this information. the guy accused of this in brookl brooklyn, a miami native indicted twice for similar cases. but 130 million. the data stolen from 7-eleven. if you used a debit card at 7-eleven, heartland payment systems processes debit and credit card transactions of the big retailers so it connects you with the money, your money with them to get them paid. now, this person is sitting in jail already charged. there's a whole bunch of states that are already, you know, knocking on his door waiting to charge him as well. t.j. max, dave & busters. a whole bunch of companies whose credit card information was breached here. what makes me dra crazy is y

christine romans for us this morning.gh economic times are taking a toll on historically black colleges where many students rely on financial aid to get their education. in this money in mainstream report, sandra shows us what's happening to help keep these kids in school just in the nick of time. >> reporter: she found a perfect fit at the college. >> this place is meant for me. >> reporter: when the economy hit her and her family hard, she packed her bags ready to drop out. >> i wasn't able to get loans, neither were my parents. >> reporter: it's a familiar story at colleges across the country, but especially at historically black colleges and universities where in some cases up to 95% of students rely on financial aid to fund their education. president barack obama has moved to increase financial aid with stimulus and budget funds, but still, many black colleges expect enrollment rates to keep shrinking. as families and students struggle in the economic downturn. >> many students want to come, will they be able to affo

christine romans minding your business, she joins us.it possible for president obama to keep his campaign promise? or is that not going to happen? >> well, you can either spend less or take in more or three things or some combination of those two things. our debts, our deficits are rising so quickly. some point you have to raise that money. how do you raise that money? almost everyone i talked to said taxes have to go up at some point. you won't see them go up by a dime, well, we already are. on the state level, states are really crunched here. you're seeing all kinds of different things, taxes and fees that you pay for on a local level, state level are already going up for middle class americans. he doesn't have control over that, of course, but a lot of people say at some point you run out of ways to raise money. >> they're talking about $1 trillion for health care. >> absolutely. now, he might be able to keep the promise by saying i'm not going to raise middle class taxes for health care reform. but looking bigger picture, we are runn

let's go ahead and take a moment now to bring in our money team's christine romans to talk more about this. christine, not a surprise, certainly that this nomination has occurred today. but i would imagine one of the reasons that the president decided to do this is a matter of consistency. when we're talking about the major economic crisis that the country is going through, probably wants to stick with the same guy. >> that's absolutely right. consistency and a president who is mentioning bold persistent experimentation. you heard that in his remarks. it's interesting, bold experimentation is what fdr promised in 1932 when he told the nation he was going to try something and if it failed he'd abandon it and try something else. so the president using fdr's language there, indeed interesting because this is -- would be the second term for ben bernanke, and actually, heidi, in the beginning of this whole process back in 2007, i want you to listen to this sound bite we found for you. back in 2007, he was asked many times about the subprime crisis and the housing crisis and if it was going

our christine romans is joining us from new york with more on this. so christine, jobless claims are down a little bit. we should remind everybody this is the weekly report. >> this is the weekly report. this is the number of the people who file for unemployment benefits in the most recent week, that 570,000 people, down. and there's also a drop in the continuing jobless claims, as well, 6.133 million. whenever you have 6 million people continuing to get jobless benefits, that's a sign of a weak labor market, but week by week and day by day is any kind of a sign that there's a turn. and these numbers have turn very, very choppy, which many say is the first seen sine you need to see before things look up. >> and the fdic is going to release the quarterly update on how much money is still in the deposit insurance fund? >> in about 53 minutes, we'll get the quarterly update from the fdic, sheila bair who runs that, and how much money is available to bail these banks out and to bail you out in your money, you're insured up to $250,000 if your bank fails, r

christine romans, minding your business.at 9:00, the president will be coming out to announce he's renominating ben bernanke to the fed chair. >> i didn't think there would be news on the president's vacation. >> always news. >> i don't think bill clinton went a week in martha's vineyard without something happening? >> he still doesn't go a week without something happening. sorry, bill, mr. president. the sub prime mortgage crisis picked up steam, remember, in 2007, ben bernanke asked point blank many, many times. look, is this sub prime problem going to be something we should be concerned about in the economy. he said, no. this is what he assured us in may, 2007. listen -- >>> we do not expect significant spillovers from the sub prime market to the rest of the economy or to the financial system. >> could we put the truth-o-meter on that one? >> that's the pants on fire, i think. he was wrong, a lot of people were wrong. he succeeded a fed chairman, greenspan, hailed as a maestro for everything he did, an unrivalled period o

christine romans joins us at the business desk in new york. christine, is it done? a done deal? >> we'll know within the next 36 hours, drew, whether this thing is done for good. a lot of the dealers are already pulling out because people haven't been reimbursed yet for all the money that they're due for these clunkers deals. so, many of them are pulling out. the dealer association is telling the car dealers, look, we don't think you should extend any more of these offers because we're not convinced you're going to get paid for it if the program is ended quickly. the department of transportation says the department will be paid. what this all means is that we're nearing the end of the road for this thing. this is headed for the scrap heed pretty soon here. we know a lot of deals have already been done. some 457,000 cash for clunkers deals so far. $1.96 billion worth of claims and the d.o.t. has said about the dealers concern that they're not going to get paid back that they're going to get their money. there will be no car dealer that won't be reimbursed, but many o

and cnn's christine romans is at the business desk in new york, and, christine, homeowners may need tofor this bit of news, especially if you're like me. i didn't buy a house at the top of the market, but pretty darn near close to the top of the market so, you know -- >> i don't know if they have to sit down, because i have a feeling that many of them know this in their hearts. >> they got it already, right? >> if you're looking at your neighborhood and you see when a house sells, it's selling for less money. you see the number of foresale signs and the number of foreclosures on your block. 14 million homes were underwater according to deutsche bank. that means that the homeowner owed more to the bank than the home was even worth. now, flash -- fast-forward to when they think that things we're at the end of this housing recession. first quarter 2011 they say 25 million homes will be underwater. don, that's 48% of all mortgages. think of that. 51 million mortgages in this country, 25 million of them underwater. that's tough. that's tough stuff. and the reason is because home prices have

i'm christine romans. lfr lfr is off this week. it's make or break month for health care reform. a happens will affect thousands of americans. competing proposals and nothing set in stone. let's bring in our senior political analyst and doctor radio. david, start with you. the odds are failure are rising a little bit every day. why? >> well, christine, these last few weeks have been cruel for health care reform, because we've seen a definite falling off, a fading of some support for president obama's health care reform and a growing resistance expressed in these town hall meetings, and i think it's changing the political mind-set, the psychology of congress. it's very clear that rubbens are going republicans are going to be resistant to a big bipartisan deal than only four weeksation. it's going to be left up to the democrats increasingly, but among the democrats there's a real falling out now that's going on over important elements of the health care plan. >> most notably, the public option which was, we thought, a hallmark of this whole thing. right? a week now of this controve

ali velshi, christine romans break it down for you. i'll be back with another edition of "the newsroom" in about 60 minutes. "your money" starts right now. >>> the future of your gas prices, did speculators drive oil prices sky high, and could it happen again. >>> the stock market is on a roll. how you can cash in right now. >>> and all those burgers, fries and burritos add up. we have the real cost of all those calories. >>> get ready, it's time to talk. "your money." i'm ali velshi. >> i'm christine romans. from health care reform delays to deals to delays again. your health care still very much in limbo. >> cnn's senior congressional correspondent dana bash has been xamped out in the halls of the capitol through all of this. she joins us with an update. hi, dana. they're headed out now for summer recess. without either the house or the senate passing health care reform. let's start with the house. where do things stand? >> reporter: this is probably going to be a crude analogy, but i'll try it anyway. since it's the summertime. you

christine romans is going to join us now from new york to go over the new rules here. christine?this affects, don, millions and millions of americans. anybody with a credit card or two or three or four in your pocket or billfold, this story is for you. starting tomorrow, these new provisions and these credit card bill of rights are going into effect and some of the provisions don't get under way until february and some not until later next year and here is what some of them are. you have the right to reject a rate increase if your credit card company tells you it's raising your rate, you have the right to reject that rate increase and say i will repay my balance at the currenteralty. they have to give you 45 days note before they raise your rates and they have to mail you your bills 21 days before the due date and now they can do that 45 days before the due date. you can also start looking, as soon as your october billing period for some of these changes and how it might affect you. what the industry has been doing, they have been raising interest rates for people who have less t

christine romans as part of our cnn money team we're proud to say. and she's joining us now from new york. is this new? or sh this we're catching up to an old problem? >> this is an old problem that doesn't show any signs of abating, quite frankly. another month of foreclosure filings. and everything from the first notice in the mail that says look, you're two months past due, all the way to the end of the line. you're seeing record numbers of this. you look at the number up 7% from june in july, again and again, we see it month after month, 360,000 properties getting one form of a foreclosure notice or another, and you look at it versus last year, look at that jump, up 32%. why? because some of the states that had a moratorium on foreclosures while they waited, those moratoriums have lifted now and so they're continuing the foreclosure process. where is it focussed? same old story, nevada, california, arizona, florida, looking at nevada, rick. 1 in 56 homes in the entire state has some sort of foreclosure notice. 1 in 56. down in florida, 1 in 154.

we have christine romans minding your business.ifficulties with so many people out of work and how it relates to try to pay for health insurance. there's something you should know about cobra. >> it's available for you if you lost your job. you pay and you can stay in your company's -- your company's health insurance plan for a while. but the government, under that stimulus plan, is subsidizing 65% of your cobra fees, what it costs you to get cobra. a lot of people get laid off, they don't sign up for cobra. it's expensive. you get you're not getting a paycheck and then you need insurance. cobra enrollment has spiked, tripling in some categories. manufacturing, look at these numbers. it tells you costs is a problem for health insurance. if the government kicks in 65%, look what happens. people flocking -- manufacturing, retame, leisure. this is cobra since march. you have about 38% overall of all of the people eligible for cobra in the program. that's double what it was even at the beginning of the year. 14 million people are eligi

christine romans, cnn, new york. and google saw a spike in searches for canning recipes.cipes. a lot of people who have never done this before are now doing it. millions of people who have never gardened before are getting their hands dirty. a couple reasons, it's the green movement. people want to grow their own vegetable. it started a couple years ago. then the recession kicked in and people want to take control and also the experience with their kids. they're not going on a big vacation this summer, staying home, going to plant a garden and show their kids, you know, what you can do with your money. >> pretty cool. as you said, so much left over. you do the tomatoes, i do the cucumbers and we swap. i'd like some tomatoes. they're coming in. >> only thing i've grown is a lucky bamboo. >>> rob marciano is out in the fire line in california and has the latest on that as well as a hurricane in the pacific and something else going on in the atlantic ocean that we have to be worried about? rob has all the information coming right up. so, what's the? these are hot. we're ship

christine romans will be live with that.and how the engine is purposely ruined. all of that coming up. >>> meanwhile we'll turn to iraq and iran. a couple of americans, swiss diplomats acting on behalf of the u.s. trying to arrange a meeting with the three americans who have been arrested in iran. susan tells us they are accused of illegally hiking into the country from iraq. >> reporter: kurdish officials identified the three americans being detained as joshua fa tal and shawn bower, both appearing on internet websites, they've been staying at the hotel before setting out an a scenic hike in the mountains near ahmed awa in iraq. an unmarked natural border with northern iraq. a friend who stayed behind at the hotel because he was ill said he last heard from them friday. they called to tell them therapeutic surrounded by iranian soldiers during the hike. the mother confirms captivity but declining requests for on camera interviews. >> my husband and i are eager for the best welfare and conditions for our son, josh and for the

christine romans has the poll numbers. has it dented? i don't get these polls sometimes.t don't. and i don't trust them. we have a he had leading economist on this program cited in newspaper articles last week saying that the recession has bottomed out. i guess that a lot of people don't feel badnessly in their personal life but for most americans to believe that it hasn't been dented? help me. i don't get that at all. >> you said the magic word. you said the word trust and it sounds to me like the american people don't have a lot of trust in what they are hearing coming out of washington and what they have been told about the first troubled asset relief program. and now all of this stuff around the health care debate, i think that these numbers reflect a lack of trust overall from people still sitting there at home and looking at foreclosures and job losses and saying, how is this possible? look at the numbers and people can decide where they fall in this. a majority says stimulus had no affect on the economy or worse. currently, 57% longer term and 60% said that the sti

christine romans minding your business this morning.ws coming to car manufacturing. >> gm workers are going to go back on the job. 10,000 gm workers will see extra money in their paychecks because of extra shifts and extra work they'll be getting overtime. gm ramps up some production in response to the cash for clunkers program. this is what we know. gm will be recalling 1,350 workers back to the job, back to the line. they want to make 60,000 more cars in the third quarter, in the fourth quarter. and 10,000 workers will see some overtime. they'll see some shifts reinstated. mostly in lordstown, ohio and ontario. these are canadian workers and uaw auto workers who will see junk from cash for clunkers. in ohio, they'll see the cobalt there. ford announced they're going to make 10,000 more cars, ramp up production there so workers can get extra overtime and extra overtime. people reinstated on the line. but at the same time, edmonds.com says they think the demand for clunkers is waning. and three ways now, buyers are petering out. these a

christine romans here with the latest on this. we were talking about this on friday whether or not they were going to be able to get more money for the program because of this enormous response. and -- >> and the house approved $2 billion more late friday and the senate has to do it today, $2 billion they would take from energy stimulus already in that stimulus to apply to this program to hopefully keep it alive. and the white house says if the senate doesn't approve this, this will expire by about the middle of the week, and we know, heidi, it has been incredibly popular, even over the week, with some of the dealers associations saying hold on, wait for the money to be appropriated before you do these deals. we saw dealerships were packed, people lining up to do this, to get this done, to get their junker, you know, turned in. i want you to listen to what one cash for clunker said. >> i got $4,500 a car i paid $4,000 for four years ago, it had 220,000 miles on it. >> i never get those deals. >> well, now, chrysler this morning is

. >> every hour, christine gives us a numeral. the romans numeral.umber driving the story about your money. what's the numeral this hour? >> 305. >> how many banks have failed this year? >> no, 81 failed this year. >> the watchlist. the fdic has a watchlist. they're going to update the watchlist. it will be a quarterly report from the fdic. they're going to give us a better look at how dangerous the banking industry is right now. 305 on the problem banks list. >> she's one of the most powerful women in the world. >> number two. >> that's right. >>> thank you so much. >>> you're a vet. you come back for more, you came back from the gulf war, iraq, afghanistan. go to the mail. gave a letter from the veteran's affairs department. the system says we hear you have lou gehrig's disease which is a fatal disease. what do you do? one such vet got that letter coming up. know. no problem. ♪ mind if i take a shortcut? yeah, sure. ♪ i knew the subaru legacy was the smart choice... what i didn't expect... was the fun. the all-new subaru legacy. feel the love. or s

christine romans is here minding your business.tatus check for us when it comes to our stocks, homes, and jobs. >> the stuff that matters to us. the s&p hit the highest level since october of last year. i mean, another nine-month high here. the s&p is up 12% this year. you know, any year you would get a return on the s&p 500 of 12%, you'd say, hey, that's a good year. let's call it a day. you look at this. up 49% from march. you know, that's an incredible rally. i want to give you perspective. that's down 35% from the all-time high. it's still down a third from where it was before the crisis began. so if you're clawing back from those big losses, it's been a year that's seen gains but putting it all in perspective, many of you are still hurting and it means that people close to retirement have a couple more years they'll be working at least or trying to figure out how to make up for that money. >> it's different if you got nervous, spooked, and out. >> it sure is. >> your house is the other big thing you feel and care about. probab

let's go to christine romans live in new york. can you make that happen? >> i can make that happy, heidi. and unfortunately, we're both wearing red. i don't know what that will say about the stock market. it could take a breather very easily because it's such a big run. and some of you, you might be scratching your head saying wait a second, i'm starting to pay attention to this and the stock market is up. it is up. you're clawing back some of your losses. last year was a pretty devastating financially devastating year for millions of americans and in this spring has been a rally here that's going to claw back some of those losses. let's take a look at the s&p 500, it's going to start today above 1,000, closed there yesterday for the first time since november. now move back ward that 676, that was in march, that was a 12-year low, a 12-year low and move further to the left of your screen and you can see what a wild ride that was going to be. that bottom from 676 to 1002 is about a 40% run for the s&p 500. it was the best july since 1997. so you're putting

this week's news on "your $$$$$" with christine romans and ali velshi, and sundays. top stories next in the "cnn newsroom." have a great weekend. >>> in just one hour, the nation will have a new supreme court justice, and you are looking at a live shot of the supreme court building, pushing forward for the swearing-in ceremony of sonia sotomayor. >>> and eunice kennedy shriver in a hospital and family members are gathering. the sister of john f. kennedy, the founder of 9 special olympics. >>> also -- [ chanting ] >> disrupting town hall meetings on health care reform. organized destruction or the voice of the masses? >>> from the cnn center, this is the "cnn newsroom." is saturday, august 8th. good morning, everybody. rime betty nguyen. >> and i'm rob marciani in for t.j. holmes. >> good to have you, t.j. judge sonia sotomayor will be sworn in as the 111th justice. president obama's first choice easily sailing through the senate vote this week and cnn's elaine quijano joins us live from the white house. elaine, what are people expecting to see during the swearing-in

here with some perspective, christine romans from the cnn money team. i'm always very hesitant to say that, but some economists are saying it. >> we should be hesitant, frankly. you're right to be. because there are a lot of dangers still lurking out there. the "wall street journal" and bloomberg news of economists said. "wall street journal" surveyed 52 economists, 27 of them said it is already over, the recession is already over and the economy is growing. 11 said, look, if it's not growing right now, it will be neck month or the month after that. a majority of them think that things are moving in the right direction. bloomberg survey said that you'll see four quarters of economic growth of 2% or more. that's definitely a recovery if they are right. is the recession over? we've seen from the gdp it has been leveling off. in the "wall street journal," they're expecting 2.4% growth in the current quarter. unemployment though could still climb to 10% or higher. most economists agree that could still happen even if you see the economy starting to recover,

cnn's christine romans is joining us now from new york -- you know, what's interesting about this, you talk to a lot of people, at least i do in my circle of friends who say, you know what? finally the banks are starting to give a lot of loans out there. so this must be refined to a certain demographic, i bet, am i wrong? >> they are giving loans, rick, to people who have collateral, cash flow, perfect credit, that's the kind of situation we're in now, there's not an appetite for risk. this is a survey of senior loan officers done every quarter, and this is what they found. they found the demand for loans according to these loan officers were declining and the credit worthiness of the potential loan applicants had worsened, meaning the people who were coming to get loans, their credit worthiness had worsened from this quarter from the quarter before. the credit limits were being lowered, half of the banks surveyed said they were lowering the credit limits for the people who were doing business with them. and lending standards were tighter, meaning they were raising requirements on borr

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let's talk to christine romans, she's in new york with us. good to see you. what did he do here, ben bernanke, what worked? >> he did so many things that we didn't even know existed. $1.3 trillion of them actually deployed in the economy everything and from backing up the commercial paper market to injecting dollars into foreign central banks in the very height of the crisis to backstopping government debt from the fannie mae and freddie mac and all kind of different things that they did to try to get money into the system to prevent a collapse and many say his efforts and the efforts of other foreign central banks and stimulus and all these other things together actually prevented a collapse and they say, look, here's this depressionary expert who helped stave off a depression but others say, others say he was too slow to recognize that this was all building and burning and i want you to listen to something that he said may 17th, 2000, tony. he was asked again and again what about this subprime crisis. this doesn't feel right, this is what he said. >> we do

cnn's christine romans has more now from new york. all right, christine, so this is a pretty sudden ending to the program. >> yeah, this thing is going to run out to the scrap yard, if you will for cash for clunkers by monday. you've got about 83 hours left to do something if we haven't done it already. a lot of the analysts say a lot of the demand for this program has already been fulfilled. 457,000 deals so far according to the government, almost $2 billion in claims as of thursday. and as we said, this thing is coming to a close. the dealers, the dealers' association has been warning dealers that, look, we've got a few days left of this really until monday, they're suggesting that maybe dealers who concentrate on getting the paperwork done on deals they've already signed and make sure they get paid, because there have been some complaints that they have not been paid in the 10 days like they were supposed to by the government. and the department of transportation says they will honor everybody. but ray lahood says it's been a thril

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recovery and takes the first steps to dial back some of its rescue efforts to new york now, cnn's christine romans is at the business desk in new york and our susan lisovicz is at her post on wall street. christine, let me start with you. some analysis here on the first time jobless claims, if you would, please. >> you still have more than half a million people every week, tony, lining up for the first time for unemployment benefits. that's a lot of folks. we watched, what is it 4,000 more or 4,000 less. we agonize over this weekly number because it gives us the best sense of real time what's happening out there with the hiring and firing decisions in american companies. we know that 558,000 people filed for unemployment benefits for the very first time in the week of august 4th. we know that's up a little bit, about 4,000 from the week before. we know that the 6 million people continuing to get claims, 6.2 million people continuing to get claims, we know that that's down a little bit. some people are kind of rolling off the end of the cycle. tony, this is a labor market that is still very, very w

cnn's christine romans is in new york. that's a little happy talk music from nancy wilson there for you, christine. look, we don't want to get beyond ourselves here. these are positive numbers, but, do the numbers indicate to you, clearly, that the recovery is taking root? >> the numbers suggest that the economy is on the mend. a lot of people are calling a turn. they're calling a turning point in what has been financial devastation for the last year and a half or two years into what they say now is a stabilization and, as you pointed out, those little, those little green shoots. you know to mix the metaphors even more. there is a big yellow danger flag waving at every turn, simply because there are so many uncertainties here. the consumer is chasant and rightfully so and, in fact, the jobless situation is going to remain probable troublesome but let's take a quick look at the little things that have happened. consumer confidence was better than many expected on wall street. durable goods rose 4.9% largely because of aircra

cnn's christine romans -- huh? christine romans joins me now.all the health care work we're doing, but, boy, share this with us. >> okay, well, a majority of economists surveyed by "the wall street journal" said that the recession is already over, tony. they interviewed, 54 -- 47 -- or 52, and 47 of them responded to their is yourvy and of those 25 said the recession is already over. another 11 said it will be over this month or next month. >> we've still got negative gdp, what are they talking about? >> what about the third quarter, a lot of people think cash for clunkers, more than $100 billion government stimulus money is out the door that has to be reflected at some point, right? this is what recession looks like. you've got four quarters here, four quarters in a row, unheard of for negative economic growth and now niece economists at the "journal" their survey on average 2.4% economic growth for the third quarter is what they are expecting. another survey by bloomberg news, tony, is forecasting four quarters in a row of 2% plus of economic

but as cnn's christine romans reports, it's a new, tougher world out there. >> reporter: dinner timeberton, north carolina. >> everything's good. >> reporter: restaurant owner rob redfern. >> we did $1.2 million in 2005. it's not bad for a small town and small restaurant. >> reporter: he's got 35 employees, a crowded bar on weekends, a dependable banquet business. five years ago, he turned a century-old mule stable into this. he's confident he's got the ingredients to open another restaurant here, 35 miles north on i-95 in fayetteville. >> i'll hire 50 people in three months if i get the money. >> reporter: $150,000, to be exact. >> my issue is that stimulus money that everybody's talking about needs to flow through to small businesses like this one. i don't want a bailout. just open the door, i'll walk through it myself. >> reporter: but so far, that door is shut. we called bb&t bank, the area's biggest small business lender, and asked them why. turns out, redfern's credit score doesn't match his confidence. a spokeswoman for bb&t who recently paid back its own $3 billion bailout sa

time and you can hear much more about the impact of your news on "your $$$$$" with christine romans and ali velshi, saturday at 1:00 p.m. eastern and sundays at 3:00 right here on cnn. don't go anywhere. your top stories are next in the "cnn newsroom." have a great weekend. -- captions by vitac -- www.vitac.com >>> hello, everybody, from the cnn center in atlanta, georgia, this is cnn saturday morning for this august 1st. i'm t.j. holmes. >> and i'm brooke baldwin sitting in for betty again. it is shaping up to be a busy, busy first saturday of august. right to a developing story we've been telling you about. the central terminal in new york's laguardia airport evacuated around 6:30 this morning. all kinds of video of people heading out. why? all we know, they had detained a gentleman inside with some sort of suspicious bag. what's inside it's bag, we still don't know at this point. the good news is that all of those people who were hanging out outside of laguardia this morning are back in the airport. >> once they get back inside, they're finding the bad news, they knew would be waitin

christine romans, dr. sanjay gupta, david gergen, thank you. >>> we hope you come away with what you need to make better decisions. thank you. >> larry: tonight, what do colin powell, tennis great john mcenroe and legendary baseball manager joe torre have in common? they are all speaking out against prostate cancer, the second leading cancer killer of american men. and for very personal reasons. >> i suspected i would have it eventually. >> lo and behold, there it was, i had prostate cancer. >> larry: an hour that could save a loved one's life, or yours, next on "larry king live." good evening. a very important program tonight, and i don't want to go overboard, but it could help to possibly save your life. joe torre will be joining us later tonight. you'll be hearing individually from lots of different people. right here are our panel. assembled are michael milken, not only a prostate cancer survivor himself but the founder of the prostate cancer foundation. someone said if they ever cure it, they'll name

. >> i'm christine romans. your health care still very much in limbo. >> dana bash has been camped out in the halls of the capital through all of this. she joins us with an update. hi, dana. they're headed out now for summer recess. without either the house or the senate passing health care reform. let's start with the house. where do things stand? >> reporter: this is probably going to be a crude analogy, but i'll try it anyway. you know that game on the boardwalk whack-a-mole, that's what's going on with the house democratic leadership. because before leaving for recess, they calmed a re volt among the blue dog conservative democrats. and they made some changes to their health care bill. for example, they pared down a little bit, the simplistic way of saying it, but they pared down the government-run health care option. you know bhapd? the liberal democrats, they -- that ignited a re volt among them. so they calmed the conservatives and the liberals popped up. that's basically where things stand right now. th

>>> welcome, i'm christine romans. the future of your health care is at stake. ali velshi has been traveling on the cnn express across america talking to you about your health coverage and what you want to see in reform. ali, what are they telling you? >> reporter: and i'm here in kansas city, missouri, with the cnn express. i've been hearing a lot from people across the country. we've started in georgia, went through tennessee, kentucky, illinois, missouri, and now into kansas and then into iowa. we're finding out what people are feeling about health care. the debate, as we've seen, has been heated in town hall meetings all over the country. when we stopped in paducah, kentucky, i had a very civilized, very normal conversation with some folks about their fears and hopes for health care reform, christine. have a listen to this. >> reporter: we are hearing different things from people wherever we're going but i haven't found too many people around here who are opposed to reforming health care. >> i'm for the idea but i don't think that congress and the president

sanjay gupta, pamela gentry, and cnn business correspondent christine romans. david, some very big stacks of paper. i want to show our viewers these, which are the various house and senate proposals. david, you worked in the clinton white house. what is president obama doing differently? >> sanjay says he's read this. anderson, president obama has taken a very different approach from what president clinton did. mrs. clinton, co-captain of the team in the white house to write a bill, came up with a will that was even bigger than this and sent it to the hill. and congress essentially said, not written here, we don't like it and it fell with a thud. instead of doing that, rahm emanuel working with president obama and others, said let's have the hill write this this time. so president obama came out with a set of general principles, very vague, but general principles. and they left it to the congress to write it. >> so now we have several different plans being talked about on capitol hill? >> right. and that's been a problem for everybody, because there is no one b

zyrtec® works fast, ♪ if you stop it up >> christine romans is out today.a flight. >> we would think of all of the things we would do. >> take one for the team. i'm coming, got to get me off. >> john said he would be arrested. >> i would be in jail in a heart beat. >> i would e-mail and call everyone at cnn i know. >> i would be on every cable channel the next day as the hero who rescued everybody and took one for the team and went to jail. >> it is. you talk about the tough times for the airline industry and everything that's going on. that's the exact type of thing you don't need to see happen. >> that's the last thing that you need as a public thing -- you can't get people from a small town up to where they're trying to go. >> let's talk about what you hear for us. selling cars on ebay. lots of people do it. companies are going to do it. >> the company would be gm. large company trying to do new things, reinvent themselves, get you back in there. that's what they're doing with a website called gm.ebay.com. they're working with 225 dealers in california.

meantime, christine romans here minding your business. a very good start to the month of august with the stock market. do we hope things are on the upswing? >> july was good as well. this is a good run here. the s&p 500, this is the broadest gauge of stock market strength or weakness that is tied to your retirement money and your investments. if you look at the s&p 500, you can see it's back to november levels now. you can see that huge plunge just a catastrophic plunge that went from 12-year lows at 676 in march. since march, the s&p 500 is up 48%. it is very rare to see have strong rally in such a short a period of time. the dow and the nasdaq showing similar charts. the nasdaq is up 58% from 12-year lows hit back in march. why is this happening? because we like to say that the stock market is a leading indicator. it's looking ahead. it's looking at things like a manufacturing survey yesterday that was strong. car sales, construction spending, earnings, all of the things that are showing -- they're not showing a free fall anymore. and t

christine romans live from new york. all right, christine, is it working? >> well, this poll, the cnn -- usa today gallup poll says it isn't working are, in fact, making things worse. this is what they found in a poll of americans taken from august 6th to august 9th currently. they say the stimulus effect on the economy, majority say no effect or worse. longer term, 60% said that the stimulus would have not effect or would actually hurt the american economy. what about on personal finances right now in the very short-term? a similar ll lly pessimistic ta overall. 18% say they were better off, 68% said no effect, 13% said the stimulus is making their personal situation worse, and 1% had no opinion. now, look, $200 billion of that economic stimulus have been allocated, put to work in the economy. there's another $500 billion plus that is set to go out, as well. that's all over the next couple of years. some of this is time released, some of it is different kinds of programs, tax cuts, funneling money to the states to cover their budget shortfalls, infrastruct

cnn's christine romans is at new york's business desk. christine, who did this survey? advocacy group called pew safe credit card project, and they did this survey where they looked at the medium-low credit card late and they compared it late last year and all the way through the first part of this year. what they found was the low in july was 11.99%. so, this is the median low advertised rate, lowest advertised rate. compare that with back in december when the low was 9.99%. so, if you have noticed that the credit card interest rate has been rising for you, this study would certainly show that that is likely the case. the reason why, as you know, the banks borrow from the fed, and then they lend money and tack on interest rate points and they lend money to you in the form of credit card bills and the industry's point of view is this, half of the money that's available for us to borrow money on our credit cards comes from something called the secondary market and after the market collapsed last fall there wasn't a way -- it got much more expensive for them to borrow mon

back to the prerecession levels just yet, but stocks are rebounding from last year's crash and christine romans taking stock of the recovery. >> t.j., let's step back and assess your stock market investments. anything tied to the major stock market averages are clawing back from the crash of '08. stocks have now finished the best five months since 1938. let's look at the s&p 500. it represents the stocks of 500 different companies. it's considered the benchmark. it is now up 11% this year as of oyesterday's close. back to levels not seen since last november, you can see on this chart, a collapse all the way to 12-year lows in march and then a sharp rebound. the s&p 500, as of yesterday, up 48% from that march low. so, what does that mean for you? it means if you're still invested in the market, the stock portion of your portfolio is recovering. why? because the stock market is anticipating the economy will turn around. the economy is still very weak. but, auto sales, housing, manufacturing, construction and earnings are showing signs of stabilizing. as one economist put it, the freefall of the

christine romans is part of the cnn money team and joins us from new york. what is the latest with colonial bank? >> it's a company for whom trouble has been brewing for sometime here. and indeed yesterday a federal judge issued a ruling essentially a restraining order borrowing any asset transfers in response a bank of america lawsuit. this is what the judge said. viewing colonial breech given the fact that colonial is on the brink of collapse and suspected of criminal accounting regularities, the potential for immediate substantial injury to bank of america is clear. the part folks are zeroing in on is that colonial's on the brink of collapse. people are talking about this morning. we'll tell you a little bit about what that company does. colonial bank at a glance. it has some 355 branchs in alabama, florida, georgia, nevada, texas, some $25 billion in assets. so this is a big group. $24 billion in liabilities. it was a very aggressive lender to real estate developers in florida in particular in the mid to late 2000s. as you know that has been a problem fo

is the day we often listen in to our chief business correspondent ali velshi on cnn radio and christine romans is sitting in while ali is recuperating from driving across the country last week. >> yeah, he totally is. he needs time off because he ate all that terrible food. did you hear the kind of food ali was eating? >> i was disgusted and feeling sick just watching it. are people talking about health care on your show? that's all they're talking about. they want to know about waste in the system and personal responsibility and prevention. we've got a lot of e-mails and you've been doing some of this, too. even as we've been trying to do the myth busting on some of the more outlandish kind of claims out there, people are still e-mailing cnn viewers and others are still e-mailing. they believe what they're hearing from other people, the word of mouth, the kind of grapevine rumors and still believe in that stuff and we're still kind of going through the bill and showing people exactly where something is and where something isn't and how maybe the, their worst fears aren't going to come to frui

on the other hand, you listen to christine romans, a top economic advisor here, she said all of this is going to take time. she uses this description, talking about a lanche ship or a supertanker. you can turn the steering wheel, but it will take time for that ship to turn around. she said that the recovery is similar and everyone has to be patient. >> what's important is not where the president is in the first 100 or the second 100 days. they're going to take the view that in the economy, we inherted an awful mess. they're wapting ingwaiting to final grade is, understanding we have a lot of work to do. they didn't expect we would turn everything around, wave our magic wand, and fix every problem in 200 days. >> when the conversation comes up about these unemployment numbers, the white house again will always say that the president is never satisfied and will not be satisfied untilever american out there out of work and looking for a job can get a job, kiran. >> congress on recess today. we know lawmakers are going back home. they're trying to shore up support for health care reform.

that tension on full display when economic adviser, christine roman, was asked if there was any wiggletaxes on the middle class. >> can i go now? >> reporter: it is no laughing matter after two top officials recently left the door open on tax hikes. so romer tried to slam it shut. >> obviously, no one is talking about raising taxes. >> reporter: the second big obstacle, trying to win over at least a few republicans for bipartisan ship. that's why mr. obama hosted the gang of six senators from each party for a closed door meeting in the oval office. top white house aides are signaling if republicans do not get on board, the president will ram it through the senate without them by using reconciliation. the third big obstacle, countering republican obligations the white house is using its official website to crush dissent by asking supporters to report fishy information they come across about the health care debate. now, republican senator, john cornen is saying this is like putting together information. robert gibbs says there is not an enemies list. the white house is not going to viola