American Morning

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April 2nd, 2009
08:47 AM ET

Meet the bailout cop

Meet Neil Barofsky, the federal government's cop on the bailout beat. CNN's Jim Acosta reports.
Meet Neil Barofsky, the federal government's cop on the bailout beat. CNN's Jim Acosta reports.

As we're finding out at the G-20 summit, people aren't just mad at the banks in this country but all over the world. 

And part of the reason is the bailout.  People are still asking the question: Where has all of that taxpayer money gone?  

As it turns out, somebody inside the federal government is trying to get an answer to that question.


Filed under: Economy • Politics
April 2nd, 2009
07:15 AM ET

Fast Forward

Here are some of the stories that will be making news later today:

President Obama will wrap up the first day of the G-20 summit after a morning and afternoon of closed door sessions. President Obama is also sitting down with India's Prime Minister and Saudi Arabia's King Abdullah.

Indictments could be filed against former Illinois Governor Rod Blagojevich as early as today. Today is the last scheduled day the grand jury meets before the April 7th deadline for filing the indictment. Sources close to the investigation say Blagojevich's wife and campaign committee are also possible targets. Blagojevich is accused of trying to sell President Obama's former Senate seat. He denies any wrongdoing.

At 8am ET a tsunami warning will go out along the eastern seaboard after a simulated earthquake in Puerto Rico. It's the first-ever test of a tsunami warning system in the Atlantic and Gulf of Mexico. It's designed to cue coastal communities of the potential danger of huge waves caused by earthquakes

At 8:30am ET we'll hear how many more Americans have signed up for unemployment benefits. That's when the Labor Department releases its weekly report on initial jobless claims.

Centcom Commander General David Petraeus is headed to Capitol Hill today. He'll meet with the House Armed Services Committee. His focus will be new strategies for Afghanistan and Pakistan

At 10am ET the House Oversight and Government Reform Committee will be holding a hearing on the collapse and rescue of insurance giant AIG. Former AIG CEO Maurice "Hank" Greenberg is expected to testify to the committee today.

Filed under: Fast Forward
April 2nd, 2009
06:00 AM ET

What's on Tap – Thursday April 2nd, 2009

Here are the big stories and guests lined up for you today:

  • Breaking now: President Obama promising a "stern, united response" to a possible North Korea missile launch.  The President also saying that South Korea agrees.  those comments came overnight at the G-20 meeting as we received word that the North Korean rocket could be fueled up and ready to go in a matter of hours.
  • Senator John McCain Live – The president asked if Republicans had any better ideas.  His former opponent has stepped up with a budget alternative that he claims will reduce the deficit while keeping the Bush tax cuts in place.  Senator McCain will be here live with the details.
  • Building London Bridges:  High stakes economic talks are going on right now in London at the G-20.  President Obama will meet with Saudi leaders later this morning.  How will his promise to make us more energy dependent go over?
  • We also have behind the scenes details from Buckingham palace.  Now the Queen has two iPods (we all have a knock-around one by now anyway…).  Our Suzanne Malveaux is taking a look at Mrs. Obama’s reception in London… the fashion and the pat-on-the-back, seen around-the-world. 
  • Plus – the top three items you should be paying attention to at the G-20.  Why you should care.  We’re cutting through all the ceremonial stuff for the issues that matter to you and your money.  Leaders of the entire industrialized world are trying to save the world economy from collapsing.  What if they all leave with nothing but souvenirs?
  • The Bailout Cop – He’s in charge of tracking your tax dollars. Just as anti-bank rage is flaring at the G-20 summit, we sit down with Neil Barofsky.  He’s the special inspector general investigating the bailout program. He’s already launched a dozen ongoing fraud investigations into the bailout – to make sure banks are using your money to fix our problems. FULL POST

Filed under: What's On Tap
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