American Morning
Kennedy Space Center Behind the Scenes
CNN's John Zarrella reports
An exclusive look at what it takes to get a space shuttle ready for flight.
Before Space Shuttle Discovery heads into space, everything down to the thermal tiles will be inspected. We have a behind the scenes look at Kennedy Space Center as Discovery is processed, post-landing, being prepared for its next flight.
Minding Your Business
What a rally! From a 12-year low to the best surge of the year for stocks Tuesday. But what happens next? We looked at the charts and found five rallies this year before Tuesday of 200 points or more. Each time, the Dow fell the next day. Two of those times, falling by triple digits. What that tells us, is this market has had a hard time holding onto those gains.
But some chart-watchers say the selling has been so relentless over the past three weeks, the market is ready for a true “bear-market rally.” But make no mistake: any true recovery in stocks doesn’t happen until the banking system gets fixed, confidence returns and lending frees up. We are not there yet.
Gunman's Killing Spree
Police have identified the gunman who they say went on a killing spree in southern Alabama yesterday. They say Michael McLendon murdered 10 people including his own mother, his grandparents, an aunt and uncle, along with a sheriff deputy's wife and child.
There are crime scenes spread out across two small Alabama towns this morning. Their mayors, Wynnton Melton of Geneva and Clay King of Samson joined us live.
Stopping 'Soft-Target' Attacks
The images shocked the world. November's brazen, commando-style attack on hotels and cafes in Mumbai, India. When the smoke cleared nearly 180 people were dead, and the job of fighting terrorism had changed forever. But, could it happen here? New York City Police Commissioner, Ray Kelly, is testifying before the House Subcommittee on Homeland Security later today looking at lessons learned from Mumbai.
The hearing will explore the groups involved in the 2008 Mumbai attacks, the threats they pose to the U.S., ways to protect domestic, critical infrastructure from attacks, and the support and involvement of the Department of Homeland Security to improve private sector security. Commissioner Kelly joined us to talk about the lessons learned.
Democrats Getting Nervous
I spent part of yesterday on Capitol Hill talking to two Democrats about how some in the party are getting nervous about the Obama Administration’s plans for the economy. Congresswoman Carol Shea-Porter from New Hampshire passed along the message she gave directly to Treasury Secretary Tim Geithner: “Hurry. Please hurry. Because people are waiting and they are hurting and they need the help now." She says she was simply relaying the message she’s getting from constituents at town meetings back in her home district.
House Speaker Nancy Pelosi urged Democrats to stay on message. Her message: confidence. But she also acknowledged what top economists have told her, another stimulus package may be necessary. Some budget hawks in her own party don’t like the sound of that. North Dakota’s Earl Pomeroy told me, “I think if we were to have a vote on a stimulus package, it would probably fail.”
Madoff To Plead Guilty
CNN's Allan Chernoff reports
Bernard Madoff intends to plead guilty at a hearing tomorrow. But, he's not cutting a deal with prosecutors and not agreeing to cooperate with government investigators. The government is investigating to determine who else may face charges.
Madoff won't be sentenced right away. Judge Denny Chin says it could be several months before a sentencing hearing is held that will likely sent Madoff to prison for the rest of his life. Until then, he remains under house-arrest in his luxurious New York apartment.
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