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New York's New Governor; Atlanta Tornado Aftermath; Dems Discuss Future Plans for Iraq War
Aired March 17, 2008 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HENRY PAULSON, U.S. TREASURY SECRETARY: The next thing I would emphasize are Fannie Mae and Freddie Mac. These organizations are very, very important to what's going on in mortgage finance in this country. And they have played a vital role. And it's important that they continue to play a vital role and continue to raise capital.
And I would say the same thing about a number of financial institutions. So, again, the idea of getting legislation where there's strong oversight is very important. And that's been up there for a long time. And these are two tangible, very specific things, that will make a difference, that haven't been done.
Now, I had a question about -- what was it?
QUESTION: Foreign exchange, intervening?
PAULSON: Oh, intervening.
Listen, I'm not going to speculate on hypotheticals on intervention. I will just, again, say to you what you have heard me say before. We have a strong dollar policy. It's very much in our nation's interests.
Our economy has ups and downs. The long-term fundamentals -- and I'm very confident about this. When we look at our long-term fundamentals compared with other major countries around the world, we have strong long-term fundamentals. That will be reflected in our currency markets.
And so our whole focus here is on policies that are going to -- going to increase the confidence in our economy. And this is open trade, open investment, working through this capital market's turmoil in a way so that we minimize the impact on our economy.
I have got time for one more.
QUESTION: Mr. Secretary, I wonder if you can help us understand how it is that, on Friday the Fed was prepared to make a multibillion dollar line of credit available to Bear Stearns, and a day and a half later forced the sale of the company for a quarter billion dollars.
PAULSON: Well, this, again, when you look at this -- and again, I very much support the Fed's action. I was working there right beside them, helping them execute this strategy. Again, to step back, we place a high priority on the orderliness of our financial markets -- this is very, very important -- and the stability in our financial markets.
Bear Stearns had a liquidity crisis. And so, we felt it was very important that this be resolved as a way to minimize impact on our economy. And so, these actions were all consistent. And it was important that this be resolved before the markets opened in Asia on Sunday afternoon.
Now, to say something even a little bit more broadly, to me the fact that has not got the attention it deserves to get is the second action that the Fed has taken. There's been a lot of focus on Bear Stearns, but the Fed took, I believe, dramatic and very important, powerful action, to make liquidity available to the broker-dealers, to the investment banks.
And the banks have long had that source of liquidity, but to be able to make that liquidity available for a broad range of investment- grade products -- asset-backed securities, mortgage-backed securities, corporate debt agencies -- and to make that available and make that available for six months or longer, if market conditions warrant it, I think was very important.
And so, the liquidity that's there for our financial institutions is very important. And the thing that I am emphasizing as I talk in the markets is that we have capital markets that are the envy of the world, that they're competitive, that they're efficient, that they -- that we move quickly when we need to address issues, and we have financial institutions that are strong financial institutions, recognized as such around the world, that will be strong institutions for a long time to come.
And it's the job of regulators to come together during times of stress and address situations that help us protect our capital markets.
(CROSSTALK)
QUESTION: What is the definition of protect?
DON LEMON, CNN ANCHOR: All right, Treasury Secretary Henry Paulson there right out of the White House, fresh out of his meeting with the president, telling reporters, briefing reporters on what he and the president talked about and also taking some questions there.
And really a lot of concern from the reporters there -- the questioning was about the bailout of Bear Stearns and why this was done so quickly and why it had to happen. So, there you go, Paulson meeting. That's issue number one for everyone, on top of everyone's minds here.
It's 3:05 here in the East. I'm Don Lemon here in the CNN NEWSROOM.
FREDRICKA WHITFIELD, CNN CORRESPONDENT: And I'm Fredricka Whitfield, in for Kyra Phillips, on assignment.
Elaine Quijano is at the White House. And she joins us now to give us a little bit more about what we hear from Henry Paulson there.
ELAINE QUIJANO, CNN WHITE HOUSE CORRESPONDENT: Well, hello, Fredricka.
You heard it just a moment ago. One of the persistent questions surrounding what happened over the weekend is, if this White House, if President Bush is very much against the idea of bailouts, then why is the administration signing off and indicating that it stands behind this action, which essentially is designed to save Bear Stearns?
What about, as we heard one of the reporters ask, the little guys out there, the people who are right now facing the prospect of foreclosure on their own homes? What direct government assistance is there and in immediate fashion is there for those people?
Well, we heard Treasury Secretary Paulson address that, trying to say essentially that, look, I don't think anyone would necessarily look at what the shareholders of Bear Stearns are going through and see that this has somehow been a boon to them.
What was -- the second part, essentially of his answer, what was of paramount importance in his mind, in the administration's mind is that the markets worldwide remain stable. And, so, that overriding concern was their chief motivator for deciding to sign off on this action.
Now, President Bush, all day really, has been aggressively trying to calm fears about the economy. In the last few days, certainly, we saw that. Once more today, the president, he didn't wait until that afternoon session that just took place to talk about the economy.
Instead, he took the unusual step of opening up to reporters a normally closed session, policy time, they call it, with economic advisers, and the president's message today, that despite the slumping economy, his administration is on top of the situation.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: One thing is for certain. We're in challenging times. But another thing is for certain, that we have taken strong and decisive action. The Federal Reserve has moved quickly to bring order to the financial markets. Secretary Paulson has been -- is supportive of that action, as am I.
(END VIDEO CLIP)
QUIJANO: And, again, the White House strongly rejecting any notion that the action taken by the Federal Reserve over the weekend amounts to a bailout.
Officials here, as we heard just a moment ago from Secretary Paulson, insisting that the action was taken in order to minimize the disruption to financial markets -- Fredricka.
WHITFIELD: All right, Elaine Quijano at the White House, thank you so much. LEMON: Oil prices dipped today after starting at a record of almost $112 a barrel. That's the good news. The bad news, well, the gasoline prices we're seeing courtesy of CNN I-Reporters, some as high as $3.99 a gallon. You can send us your photos, even video to ireport.com.
And to see what consumers are saying, log on to CNN.com/living. Then look for the link under top living stories. The economy is issue number one.
And we will bring you all the latest financial news all this week at noon Eastern, information you need on the mortgage meltdown, on the credit crunch, and more, "ISSUE No. 1," 12:00 p.m. Eastern, only on CNN.
WHITFIELD: All right, midtown Manhattan, searchers have just pulled another body from the rubble from Saturday's crane collapse. It is the third body that they have found today and the last of the reported missing.
The crane came crashing down Saturday and destroyed a townhouse in its path. Seven people are now known dead from this accident.
(BEGIN VIDEO CLIP)
UNIDENTIFIED AUDIENCE: David! David! David! David! David!
(END VIDEO CLIP)
LEMON: Well, they are chanting "David." And amid those chants of "David" ringing through the New York State Assembly in Albany, David, as in David Paterson, sworn in today as the state's first African-American governor. He took the reins after his predecessor, Eliot Spitzer, resigned in a prostitution scandal.
Paterson pledged to bring a new day to New York.
(BEGIN VIDEO CLIP)
GOV. DAVID PATERSON (D), NEW YORK: I never expected to have the honor of serving as governor of New York State. But our Constitution demands it. This transition today is an historic message to the world that we live among the same values that we profess and that we are a government of laws and not individuals.
(END VIDEO CLIP)
LEMON: Well, Paterson also brought some welcome levity into his speech to lawmakers. He poked some fun at his colleagues and even at the fact that he is legally blind.
WHITFIELD: And now leading our Political Ticker: John McCain's latest visit to Iraq. He's there with fellow Senators Lindsey Graham and Joe Lieberman, all of whom supported the so-called surge of American troops.
McCain says the policy is helping to make Iraq safer.
(BEGIN VIDEO CLIP)
SEN. JOHN MCCAIN (R-AZ), PRESIDENTIAL CANDIDATE: I have always seen the end. How closer we are to that is significant progress, but, again, we found out last week, as you know, the casualties spiked up. Tragically, we sacrificed 12 young Americans. And, so, they are on the run, but they're not defeated. And there's large areas of this city we're in right now that the neighborhoods are safe.
(END VIDEO CLIP)
WHITFIELD: Lieberman and Graham support McCain's presidential bid.
Answering critics of the trip, well, McCain says all senators have every right to get a firsthand look at Iraq.
WHITFIELD: Hillary Clinton is renewing her pledge to pull U.S. troops out of Iraq if she wins the White House. Clinton had this to say this morning.
(BEGIN VIDEO CLIP)
SEN. HILLARY RODHAM CLINTON (D-NY), PRESIDENTIAL CANDIDATE: A well-planned withdrawal is the one and only path to a political solution, the only way to spur the Iraqis to take responsibility for their own future and to ensure that we don't bear that responsibility indefinitely, the only way to spur other countries to do their part to help secure stability in the region.
(END VIDEO CLIP)
WHITFIELD: Clinton's comments came at a foreign policy speech in Washington.
Barack Obama's longtime church blames the media for the controversy surrounding its former leader. Last week, the Reverend Jeremiah Wright came under fire after some of his sermons popped up on the Internet. Some listeners consider them racist and unpatriotic.
Obama himself called some of Wright's remarks inflammatory and appalling. But Trinity Unity Church of Christ is defending Wright. They say he, "preached a social gospel on behalf of oppressed women, children, and men in America and around the globe."
All the latest campaign news is available right at your fingertips. Just go to CNNPolitics.com, plus analysis from the best political team on television -- that and more, CNNPolitics.com.
LEMON: And, Fredricka, two days ahead of the fifth anniversary of the war in Iraq, an optimistic outlook from Vice President Dick Cheney. He arrived in Baghdad today for an unannounced visit.
Cheney says, despite setbacks, Iraq has made strides on its road to democracy. (BEGIN VIDEO CLIP)
RICHARD B. CHENEY, VICE PRESIDENT OF THE UNITED STATES: ... reflect back on those five years, I think it's been a difficult and challenging, but nonetheless successful endeavor, and that we have come a long way in five years and that it's been well worth the effort.
I think the president's made a number of very tough and difficult decisions that have been carried out by some extraordinarily capable people, such as General Petraeus and Ambassador Crocker and the hundreds of thousands of troops and diplomatic personnel that have worked with them.
(END VIDEO CLIP)
LEMON: Well, Iran is also expected to be a major issue as Cheney holds talks with Iraqi leaders. The vice president is also meeting with American troops. It's Cheney's third trip to Iraq.
WHITFIELD: Parts of Atlanta considered danger zones after a tornado rips through the city, the fallout, the clean up taking place outside our own CNN Center.
(COMMERCIAL BREAK)
LEMON: All right, let's look at these pictures. I cannot believe that is downtown Atlanta, block after block of blown-out windows, twisted metal and crumpled roofs. Safety is a major concern in the aftermath of a powerful tornado in the middle of downtown Atlanta. The historic Cabbagetown neighborhood was especially hard hit. That happened Friday night. The first tornado came there. And then it came through again, another one.
Huge old trees were ripped up by the roofs, destroying -- homes almost just old as that. Amazingly, no one was killed. And then, the next day, as I said, there were more tornadoes that swept across North Georgia. One man was killed by flying debris. A woman died when her home took a direct hit. And I believe her husband is still in the hospital. So, we're hoping he is well.
Now, as you have no doubt heard, this freak tornado that hit while Atlanta was playing host to thousands of visitors, a lot of venues are damaged, a lot of major venues. And down there among those major venues, our very own T.J. Holmes.
T.J., you're in the middle of it. We have got, what, the World Congress Center. We have got the CNN Center. What else do we have? The Georgia Dome. All those places right in the middle of all this, and there was a huge event going on.
T.J. HOLMES, CNN CORRESPONDENT: All those things. And we talk about the downtown being the heart of Atlanta. Well, the tornado hit the heart of the heart, if you will. And that's where I am right now. Some buildings, like the one behind me, no, that's not a major landmark, but that just gives you kind of an idea of the destruction of this storm, the whole side of this thing blown out. This building, you can pretty much -- everything is exposed from the inside.
Now, you mentioned a couple of those major things, the World Congress Center, the Georgia Dome, the CNN Center. Let's take a look at some video right now of the Georgia World Congress Center. This is a spot that got hit hard, and a lot of damage done.
Now, there's a problem, of course. A lot of the cleanup has to be done, but there's a business component to this as well, because the Georgia World Congress Center is a spot where so many conventions come, meetings come, brings in thousands of thousands of people.
Well, that's one thing, that the Georgia World Congress Center is going to be losing some of that business, because, right now, they're closed for the week, going to be closed on a week-to-week basis. They say they won't make a decision until Friday about when to open.
But the other business component is that the downtown hotels, they depend on all that business, people who come here for those conventions. They come here and they stay in the surrounding hotels. So, if the Georgia World Congress Center isn't open for business, so many of these hotels are going to be losing business.
Now, a couple of things that are open right now, the Georgia Aquarium. A lot of people come to town and visit that, and also the World of Coke. Those two things are still open. But, other than that, there's not much around this particular hub, the heart of -- the heart of the city, really, right now.
I'm across the street from the Centennial Park. This is a place that a lot of people, even if you haven't been to Atlanta, you will at least know Centennial Park. Try to make your way through this debris, if you will, and just kind of peek through this tree. And that's right across the street where the 1996 Olympic Park bombing happened, to give people some perspective exactly where we are.
And, again, this is the hub of downtown Atlanta. This is where everybody comes. And this is where the tornado decided to make its target. So, it is really, Don, like we said, an absolute miracle, so lucky. So many people were down here. And it could have been a whole lot worse. We have got some cleaning up to do, but we can pull out a broom and sweep the streets, but so lucky that a lot of people weren't more injured and also weren't killed in this thing -- Don.
LEMON: Yes, T.J., ripple affect, not only with that, restaurants as well, businesses. It just goes on and on and on. So, and people...
HOLMES: Yes.
LEMON: Loss of productivity because people can't come to work, the windows all blown out.
(CROSSTALK)
LEMON: Hey, thank you for your reporting on this, T.J.
HOLMES: All right.
(WEATHER UPDATE)
LEMON: The economy is issue number one for you. What does it mean for them? Our political roundtable talks dollars, cents, and votes -- coming up.
(COMMERCIAL BREAK)
WHITFIELD: OK, pretty dramatic moves in Washington in the face of a deepening credit crisis at the White House today, a series of meetings involving President Bush and the top government guardians of the economy.
(BUSINESS REPORT)
LEMON: The economy, it is issue number one for you. What does it mean for them, those three people you see right there? Our political roundtable talks dollars, cents, and votes -- coming up.
(COMMERCIAL BREAK)
LEMON: OK. Remember, "it's the economy, stupid?"
Well, pocketbook issues are driving this year's battle for the White House. We hear it from the voters, we see it in the poll and as you can see in our latest poll, it's now beating out another big issue -- Iraq, two to one
Joining us now from Chicago, CNN contributor Roland Martin, in Washington, Republican strategist Cheri Jacobus.
Thank you both for joining us.
You see it there -- the economy 42 percent, Iraq 21 percent. That's now. January -- 35 percent economy, 25 percent Iraq and so on and on. And you see where the economy starts to creep up and catch up with Iraq, from 29-28 in November, 22-28 in October and now 42 to 21 percent.
OK. Cheri Jacobus, if I'm John McCain's handler and strategist, what am I going to say, because he's running on the Republican ticket and many people view the Republican who's in the White House as playing into this whole economic crisis that we're going through.
CHERI JACOBUS, REPUBLICAN STRATEGIST: Well, John McCain has a great deal of credibility on the economy on his own. I mean he's a seasoned lawmaker, so he has an actual record to run on. And you have to remember, John McCain has been really big on making sure we're cutting out pork and government waste in Washington.
He's done that before it was popular and risking the ire -- and oftentimes getting it -- of his own Republican colleagues in the Senate, because he'll call other senators out when they're wasting the taxpayers' dollars. So he has a pretty good, solid and credible record of keeping his eye on the money in Washington and I think that voters are going to appreciate that.
ROLAND MARTIN, CNN CONTRIBUTOR, SYNDICATED COLUMNIST: Don...
LEMON: Wait. Hang on, Roland.
But real quick, if the number one issue is the economy, then why is John McCain in Iraq, Cheri?
JACOBUS: Oh, are you talking...
LEMON: Yes.
JACOBUS: Well, first of all, Iraq is still an issue. And Iraq is something that John McCain is committed to whether the voters this week and next week think it's important or not. You have to remember, these polls go up and down and voters do change their minds. And a lot of it has to do with what's going on in the economy, what's going on in the war...
LEMON: OK.
JACOBUS: ...and when the war is going well, people tend not to pay attention. That's the good news. But John McCain's commitment is there, whether other people are paying attention or not.
LEMON: OK.
JACOBUS: And I just want to make note that a recent poll -- and I can't remember if it's Zogby or Reuters -- please forgive me. But it says that...
LEMON: Hey, Cheri --
JACOBUS: ...give...
LEMON: We would love but there --
JACOBUS: ...Clinton and McCain higher marks on the economy than Obama.
LEMON: Hey, Cheri. Yes, well, we do -- we have our own polling around here, so we like to stick to it.
(LAUGHTER)
LEMON: I appreciate your point, but I want to get to Roland now.
Roland, go ahead. What were you going to say?
MARTIN: Hey, Don, the great thing about not being a Democrat or a Republican is I don't have to stick to their talking points. The reality is John McCain will be extremely weak on the economy. That is one of his weak areas. And so he's a much stronger candidate on national security, which is why I think...
LEMON: Which is why he's in Iraq today. MARTIN: Well, no. But, no, no. First of all, the Iraq trip, obviously, was already preplanned in terms of and as a part of his Senatorial duties. And so -- but here's the deal, though, Don. I don't think you can divorce the Iraq War from the economy. The reality is a significant amount of U.S. spending...
LEMON: Right. Right.
MARTIN: ...is taking place in Iraq that has an impact on the United States. Not only that, you also have an issue -- and you're going to see it unfold in several places on CNN tonight -- where you have people who are coming back from Iraq, who are veterans of the war who are finding a difficulty finding jobs in the American economy. And so I'm not going to divorce the two --
LEMON: Right.
MARTIN: But, again, this is a problem for John McCain because this is not his strength -- the economy --
LEMON: OK.
MARTIN: And we all know it.
JACOBUS: I disagree, Roland.
LEMON: OK, hey, listen.
JACOBUS: He's very strong on the economy...
LEMON: Unfortunately, that's going to have be the last --
(CROSSTALK)
LEMON: Guys, that's going to have to be the last word on this particular issue...
JACOBUS: OK.
LEMON: ...because I want to get to this issue that's been the subject of much talk -- taking up a lot of newsprint. And we're talked about the Reverend Jeremiah Wright and Barack Obama.
I know, Roland, you've been reporting on this all weekend.
I want to play some of the comments and then Barack Obama's response and then I want to talk about it.
(BEGIN VIDEO CLIP)
REVEREND JEREMIAH A. WRIGHT TRINITY UNITED CHURCH OF CHRIST: Barack knows what it means to be a black man living in a country and a culture that is controlled by rich white people. Hillary can never know that. Hillary ain't never been called a (EXPLETIVE DELETED).
SEN. BARACK OBAMA (D-IL), PRESIDENTIAL CANDIDATE: The statements that were the source of controversy from Reverend Wright were wrong and I've strongly condemned them. I think the caricature that's being painted of him is not accurate. And so part of what I'll do tomorrow is to talk a little bit about how some of these issues are perceived from within the black church community, for example, which I think views this very differently.
(END VIDEO CLIP)
LEMON: OK. So the black church views it differently. And if you listen to those words, in context or out of context, Roland, those are pretty strong, pretty harsh statements by the -- and, obviously, I'm familiar with Jeremiah Wright from Chicago Trinity. I know the whole thing. But that's -- those still are inflammatory, regardless of what the context is.
MARTIN: Yes, but the reality is, Don, as you just heard, we know this, in terms of we have heard black preachers preacher before in terms of how folks view certain comments. And so it is not, frankly, surprising.
Now, but it is important, though, when you do ask the question, how do you view it in context? The bottom line is this here --
(CROSSTALK)
LEMON: Real quick, though. Real quick. I have never heard my minister say anything like that.
MARTIN: Well --
(CROSSTALK)
MARTIN: You know what, Don?
LEMON: And if they did...
MARTIN: Don, I've traveled --
LEMON: ...I don't know if I would go to the church.
MARTIN: Don, you know -- but you know what, Don, you have a number of people who have said that for Catholics, will you leave the Catholic Church because of what the church did when it came to sexual abuse victims? And you know what? A lot of folks have stayed.
The reality is people have a relationship with the church, frankly, beyond just the pastor; also, the fellowship, in terms of the members there, as well. And so, look, that is not, frankly, the most outlandish comment I've heard coming out of the pulpit, whether from the left or the right, Republican or Democrat.
LEMON: It's not the most outlandish, but you have to admit this person is very close to Barack Obama. Barack Obama admits that this is his spiritual mentor and someone he has gotten counsel from...
MARTIN: Right. LEMON: ...over the years. And to hear those words coming out of his mouth, again, regardless of the context, Roland, it's pretty controversial...
MARTIN: But, you know what, Don?
LEMON: ...and pretty strong words.
MARTIN: Don, my pastor -- my pastor in Chicago, Reverend James Meeks, he has made some statements in the pulpit --
LEMON: And I remember covering James Meeks...
MARTIN: Not -- well, not --
LEMON: ...on those controversial statements, as well, when I was there.
JACOBUS: But Roland, you're not running for president...
MARTIN: Don, he is --
JACOBUS: ...and you don't have him on your committee.
MARTIN: Don, he is -- no, no. One second, Cheri. He has made some comments that -- will I agree with him? No.
Will I disagree with him? Yes. The comments that he has made, I certainly embrace absolutely. So the point there is you are going to hear things coming from a pastor you might disagree with. That's the reality...
JACOBUS: But the problem with this --
MARTIN: But do you judge him...
JACOBUS: But --
MARTIN: ...based upon 20 seconds or do you judge him based upon...
JACOBUS: Well, Roland, there's also a political reality...
(CROSSTALK)
LEMON: Let him finish. Let him finish, Cheri.
MARTIN: No.
LEMON: Wait. And I'll get to you. Finish, Roland.
MARTIN: Do you judge him based upon 20 seconds or 36 years? That's the real issue.
LEMON: OK.
Cheri, go ahead.
JACOBUS: Well, it's obviously more than just the 30 seconds. And we've seen a lot of tape that's far longer than 30 seconds.
The problem for Barack Obama is that he has known about this for quite some time and he gave this man a leadership position on his campaign. And he's telling us to, you know, judge him on his judgment, since he has a pretty thin record. He hasn't been on the national scene that long. His problem is...
MARTIN: Well, but you can't just (INAUDIBLE)...
JACOBUS: Let me finish, please.
What he has done is he -- when it became a political problem for him, then he came forward, just this last Friday I think it was, and started denouncing it. And he started out going on the "Huffington Post," of all places. When he released that that didn't pack enough of a wallop, then he started going on the cable networks.
So he has a political problem. He's running to be president of the United States for all people. And it seems that he's been tap dancing around this. He could have -- he could have still had this guy as his pastor and someone he admired, but he should have not put him in a leadership position on his campaign.
LEMON: And, Roland --
MARTIN: Cheri, wait a minute.
(CROSSTALK)
LEMON: Hang on. Hang on.
(CROSSTALK)
LEMON: Roland --
(CROSSTALK)
LEMON: Roland --
(CROSSTALK)
MARTIN: For John McCain...
LEMON: Roland, let me let her get her last thought in, finish and then -- go ahead.
Go ahead, Cheri.
JACOBUS: Well, no, that was it. I think that's the political reality. He waited too long to denounce this man and that's now a Barack Obama problem -- not a problem for black ministers around the country.
LEMON: And, Cheri --
MARTIN: And, Don, here's the problem...
LEMON: Cheri and --
MARTIN: Don, he's the problem you also see for John McCain.
LEMON: Yes?
MARTIN: When you have Pastor John Hagee out of San Antonio who calls the Catholic Church a white whore, then you have Pastor Rod Parsley, who calls for the destruction of Islam as a focal point of the United States...
JACOBUS: Roland, I --
MARTIN: No, no, no. Cheri, Cheri, Cheri, Cheri...
JACOBUS: You're trying...
MARTIN: ... Cheri...
JACOBUS: You're comparing apples and oranges...
MARTIN: No, no, Cheri...
JACOBUS: ...and you know it.
MARTIN: Cheri, I am making the point as somebody who is an Evangelical, whose wife was an ordained minister for 20 years, that what you have is you have pastors on both ideological sides who will make comments, who endorse candidates...
JACOBUS: I agree.
MARTIN: ...and the candidates...
JACOBUS: Obviously they do.
MARTIN: ...are put in a position where they have to denounce them...
JACOBUS: Roland, there is a big difference between...
MARTIN: When they are not running for president.
JACOBUS: ...somebody else endorsing a candidate and that candidate endorsing that person to the point where they have them sitting -- as a leadership on their campaign and there's no...
MARTIN: Did John McCain call Rob Parsley a spiritual guide for America?
JACOBUS: Roland --
MARTIN: Rod Parsley created the Patriot Pastors that elected George W. Bush.
JACOBUS: Reverend Wright has --
MARTIN: Come on, now.
JACOBUS: Reverend Wright's comments have been known to Barack Obama for well over a year. He has kept him around. And you know that John McCain has said that he does not agree with the comments of the other -- these other people that have endorsed him.
LEMON: Cheri --
JACOBUS: So I really think you're being disingenuous and you're...
MARTIN: No, you've got folks on both sides who are making inflammatory comments, Cheri.
(CROSSTALK)
LEMON: Cheri and Roland, unfortunately...
MARTIN: ...and you know it.
LEMON: Unfortunately that's going to have to be it.
But, as well, Roland -- and point well taken from both of you. But the scrutiny is different for average citizens as us. When you're running for president, it's a different scrutiny. So I understand what both of you guys are saying.
MARTIN: Of course it is. No, but I'm saying -- but people on both sides are making inflammatory comments.
LEMON: Yes.
MARTIN: We've seen this historically.
LEMON: OK.
Roland Martin, Cheri Jacobus -- obviously, Cheri, you're a little bit frustrated there. I wish we could talk more about it.
But thank you both for joining us today in the CNN NEWSROOM.
JACOBUS: Thank you.
MARTIN: Thanks, Don.
LEMON: All the latest campaign news is available at your fingertips. Just go to CNNPolitics.com. Plus analysis from the best political team on television. That and more at CNNPolitics.com.
WHITFIELD: Oh, my gosh. It's time to check the calendar. The deadlines for filing your taxes less than a month away.
Are you ready?
LEMON: No.
WHITFIELD: No.
(LAUGHTER)
LEMON: I'm not even going to lie.
WHITFIELD: All right. Well, "Right on Your Money" we've got help.
Christine Romans has some tips to help you get the biggest refund possible.
(BEGIN VIDEOTAPE)
CHRISTINE ROMANS, CNN CORRESPONDENT (voice-over): You have less than one month to file your 2007 tax return and making the right decisions now can get you a bigger check later this year.
Tax attorney Donna Cocovinis says first, make sure to choose the right filing status.
DONNA COCOVINIS, TAX ATTORNEY: You could be a head of household if you support a parent or a relative. Don't overlook that, and especially for someone who may have lost a spouse, there's something called qualifying widower or widow status. And it will give you the benefit of a lot of the joint filing brackets and deductions.
ROMANS: Also, pay attention to some commonly overlooked deductions.
COCOVINIS: One of the things is job hunting expenses -- resume preparation, the stamps, faxing fees, publications to find a job, you know, any kind of medical testing that you need to get the job.
Gambling losses, actually, against your gambling winnings, unfortunately. So you have to have won to get those losses. And legal fees to collect alimony. And, you know, unfortunately, sometimes that's the way you have to get it.
ROMANS: If you've had a major life change in the past year, consider working with an accountant.
COCOVINIS: When you have a big change in your tax position -- you've been married, have a baby or lose a dependent, get divorced, buy a house, sell a house, sell a business -- something where your tax position is changing and if you're uncomfortable doing your taxes, it's a great way of having a financial checkup.
They can show you all the deductions that you can take in the future. They'll get you the right forms, schedules and this way you can go forward knowing that you get all the deductions that you deserve.
ROMANS: Christine Romans, CNN, New York.
(END VIDEOTAPE)
(COMMERCIAL BREAK)
LEMON: And we have some developing news just into the CNN NEWSROOM.
And I'm looking from -- looking at a press release right hear from the Justice Department. And what it says essentially is that the pilot of that oil tanker that crashed into the San Francisco Bay Bridge -- remember that -- that they're going to be filing some charges against him -- criminal charges filed against him. The pilot of the oil tanker that crashed into the bridge causing that major spill charged in federal court in criminal negligence.
Again, reading now from the Department of Justice, it also says that John Cota, the pilot of the Cosco Busan, will face two criminal misdemeanors, which could result in 18 months in prison and fines totaling $115,000. Again, this is from the Justice Department -- that information that we are just getting in here.
Also, that ship -- just a little background -- spilled some 60,000 gallons of heavy fuel on November 7, resulting in the deaths of about 2,000 birds.
That story just into the CNN NEWSROOM. We'll follow it for you.
WHITFIELD: Well, decades after investigators closed the books on the Manson family murders in California, a new chapter may be written -- all thanks to Buster the police dog. During routine training more than a year ago, Buster sniffed out five potential human burial sites not far from the Manson ranch near Death Valley.
Further testing showed two likely grave sites, maybe even a third. Manson and his followers terrified the nation with a 1969 killing spree that left seven people dead, including actress Sharon Tate. It is not clear what might happen with the new discoveries. At this point, the county sheriff has not decided to dig.
Well, for the best crime coverage on the Web, check out CNN.com/crime. It's the newest effort from our friends at truTV and CNN.com. Go behind the police tape and into the courtroom like never before at CNN.com/crime.
LEMON: More now on our developing news will come in just a minute on that spill in the San Francisco Bay. Criminal charges filed against the pilot of that boat. We'll bring it to you right here in the CNN NEWSROOM.
(COMMERCIAL BREAK)
LEMON: All right, just into the CNN NEWSROOM, the pilot of that oil tanker that crashed into the San Francisco Bay Bridge back in November -- we're just learning from the Justice Department that criminal charges will be filed against that pilot. Here's what the document says. Court documents indicate John Cota, who was the pilot of the Costco Busan, will face two criminal misdemeanors, which could result in 18 months in prison and fines totaling $115,000.
Now, here's why. That ship spilled nearly 600,000 gallons of heavy fuel oil -- that was on November 7 -- resulting in the deaths of about 2,000 birds. Criminal charges for the pilot of that boat that crashed into the San Francisco Bay Bridge back in November -- Fred?
WHITFIELD: Well, if you've ever had a hankering to pain -- pan, rather, for gold or dig for gold or try to find gold with a metal detector, well, now, apparently, is the time. All that glitters may not be the real thing, but with the real thing selling for a thousand dollars an ounce, there are worse ways to spend an afternoon.
Here's CNN's Dan Simon.
(BEGIN VIDEOTAPE)
DAN SIMON, CNN CORRESPONDENT (voice-over). The Arizona desert is known for cactus, blistering heat and, for some...
(VIDEO CLIP)
SIMON: Gold. An hour-and-a-half north of Phoenix, these people are literally digging for it.
DON DUESENBERG, HUNTING FOR GOLD: Oh, everybody thinks they're going to get rich.
SIMON: Don Duesenberg is a retired construction worker who started doing this seven years ago.
DUESENBERG: Some people go play golf. They don't make any money. All they do is spend money. Well, here I get some back.
SIMON: Like times of old, they still use pans -- but metal detectors and other modern equipment make finding the gold easier.
DUESENBERG: And if everything works the way it's supposed to, that's where the gold is trapped.
SIMON (on-camera): About 70 to 80 years ago, this area was worked by professional gold miners. They found the easy stuff and the place was abandoned. But now these weekend prospectors are back, trying to find any scraps that were left behind.
(voice-over): And we mean scraps. You practically need a magnifying glass to see them in their vials. But Dave Cusack says they can add up quickly -- at least that's the plan.
DAVE CUSACK, HUNTING FOR GOLD: I'm semi-retired and I thought well, I'll either get a part-time job or something that will pay well. And I thought well, maybe looking for gold will be the same as a part- time job. So far it hasn't turned out quite that well, but I'm still hoping. I'm going to start over.
SIMON (on-camera): It seems to me you would have to have a lot of patience to do this.
DAN WARE, GOLD CLUB ORGANIZER: You've got to have a lot of patience and love to be in the outdoors.
SIMON (voice-over): Dan Ware heads up a club for local prospectors. The club secured permits to search this and other federal lands. Membership in the last couple of years has soared, from about 70 to more than 400. His treasure hunting supply shop also brings in novices trying to get in on the action.
WARE: I keep thinking where is it going to end? But everybody just keeps thinking there's more and more out there -- and there is.
SIMON: One customer thought he found the nugget of a lifetime, but it turned out to be just a worthless rock.
UNIDENTIFIED MALE: It looked like gold to me, but it's an iron tie rod.
SIMON (on-camera): Are you finding that some of your members -- some people who are doing this are actually doing this to supplement their income?
WARE: Well, they have that idea. We try to explain to them, hey, this is a hobby. If you get any gold, it's a bonus. Don't plan on making a living doing it.
SIMON: Good idea, say gold experts.
NYAL NIEMUTH, ARIZONA DEPARTMENT OF MINES & MINERALS: Go out into the hills. Go out to some of the prospector shops. See if anybody who's got an ounce in his hand.
SIMON (on-camera): It's rare?
NIEMUTH: It's rare.
SIMON (voice-over): Maybe so...
UNIDENTIFIED MALE: Well, nothing there.
SIMON: ...but it doesn't stop the dream of someday finding the mother lode.
Dan Simon, CNN, Yavapai County, Arizona.
(END VIDEO TAPE)
WHITFIELD: Wow! That definitely takes a lot of patience. That's painstaking.
LEMON: And you've never done the whole -- you do a little tour where you can actually pan, do the thing that's in that? WHITFIELD: No.
LEMON: Yes.
WHITFIELD: I've been to old gold mines before, but it didn't involve actually, you know, getting a chance to check it out and see what it was like.
LEMON: Well, the time has flown today, hasn't it?
WHITFIELD: Yes.
LEMON: I looked up and said is it really time to check in with CNN's Wolf Blitzer to see what's coming up at the top of the hour?
And it is -- hey, Wolf.
WOLF BLITZER, CNN ANCHOR: Hi, guys. Thanks very much. Lots of news coming up.
We're going to hear directly from Bill Clinton. He says if anyone was a victim of a so-called race card, it was the Clinton campaign. And he makes a surprise prediction on how the Democratic race will end up. The interview with Bill Clinton. That's coming up.
Also, John McCain sees up close the war he could inherent if elected president. He traveled to Iraq for the first time as the presumptive Republican nominee. McCain says it's not the McCain photo opportunities.
So what is he doing there? We're going there. He spoke to our John King.
And amid Afghanistan's death and despair, President Bush reportedly says something that some people find shocking -- that being on the frontlines -- and I'm quoting now -- "is romantic." What exactly does the president mean?
All that and a lot more coming up right here in "THE SITUATION ROOM" -- back to you guys.
WHITFIELD: All right. Thanks, Wolf. We look forward to that.
LEMON: Oh, yes.
WHITFIELD: Yes.
LEMON: And we're looking forward to the closing bell, right, and a wrap of all the action on Wall Street. You never know these days. Still ahead.
(COMMERCIAL BREAK)
WHITFIELD: Time for the closing bell.
LEMON: Oh, boy. Stephanie Elam standing by with a final look at the trading day -- and, Stephanie, do you have some good news for us today? Please.
STEPHANIE ELAM, CNN CORRESPONDENT: Actually, I guess I kind of do.
(STOCK MARKET REPORT)
WHITFIELD: All right, time now for "THE SITUATION ROOM" and Wolf Blitzer.
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