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Right to Bear Arms; North Korea Releases Nuclear Secrets; Purchasing Guns on the Internet; More Violence Breaks out in Mexico; Dow Tanks

Aired June 26, 2008 - 14:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

DON LEMON, CNN ANCHOR: Hello, everyone. I'm Don Lemon, live at the CNN World Headquarters here in Atlanta.
BRIANNA KEILAR, CNN ANCHOR: And I'm Brianna Keilar.

You're in the CNN NEWSROOM.

LEMON: All right. You want to know how this Supreme Court decision on handguns affect you? We're going to explain that to you today in the CNN NEWSROOM.

You don't have to serve in a well-regulated militia to own a gun in America. Well, generations of Americans have lived by that belief, but not since the Bill of Rights was passed in 1791 has anybody known for sure what the Constitution meant. Well, not, that is, until today.

In a 5-4 decision, the Supreme Court has overturned a near total ban on handgun ownership in Washington, D.C. It is a huge day in U.S. legal history, and we've got it all covered for you right here in the CNN NEWSROOM.

CNN's Jeanne Meserve, she's in Washington. Our Josh Levs is right here at the CNN Center. He is watching gun sales over the Internet. And Brooke Baldwin (ph) at a gun shop in Smyrna, Georgia, that's been involved in a lawsuit over gun crimes in New York City.

We have all the angles covered for you today.

Well, let's start with some background on this -- behind this ruling. We want to tell you about in 1976, the District of Columbia passed one of the strictest gun laws in the nation. It pretty much barred anyone outside law enforcement from owning handguns.

City officials say it's helped reduce crime, but citizens sued for the right to keep guns at home for protection. A federal appeals court also found the ban excessive, but the district kept on fighting.

Well, the high court ruling holds gun ownership is an individual right, not reserved -- not reserved for militias, but not unlimited either. D.C. Mayor Adrian Fenty points out that the handgun ban will stay in effect for 21 days, but he is already planning for day 22.

(BEGIN VIDEO CLIP) MAYOR ADRIAN FENTY, DISTRICT OF COLUMBIA: As mayor, although I am disappointed in the court's ruling, and believe as I've said for the past year, that more handguns in the District of Columbia will only lead to more handgun violence, it is important to both respect the court's authority and then to act quickly. And today I have already directed the Metropolitan Police Department to implement an orderly process for allowing citizens to register handguns for lawful possession in their homes.

(END VIDEO CLIP)

LEMON: Well, today's ruling indicates other narrower types of gun regulations can be constitutional.

Let's tell you about what's happening in Chicago now. Chicago is the only major U.S. city with a gun ban as broad as Washington, D.C.'s. Now, here's Chicago Mayor Richard Daley's reaction.

(BEGIN VIDEO CLIP)

MAYOR RICHARD DALEY, CHICAGO: Every mayor will be outraged by this. Why should we allow more and more guns in our home? Can you see everyone having guns in their home?

You have disputes, you have people who have drug problems, alcoholic problems. And they're going to take a gun and they're going to end their life in a family dispute?

(END VIDEO CLIP)

LEMON: Chicago Mayor Richard Daley never at a loss for words. He also warned any moves to strike down Chicago's ban could mean higher taxes to pay for more police.

KEILAR: Well, if guns weren't an issue in the presidential race already, they certainly will be now. Here is where the candidates stand.

Barack Obama wants to permanently reinstate a nationwide ban on assault weapons. John McCain opposes restrictions on assault weapons and he voted against a 10-year extension of that ban.

Obama voted for a 2005 amendment that would restrict rifle ammunition designed or marketed to be armor piercing. McCain voted against it. Both men voted for a 2006 amendment banning confiscation of firearms from private citizens, especially in times of crisis or emergency.

Well, if people who couldn't buy handguns before are now in the market, the Internet is certainly one place to start. Our Josh Levs will show us how guns are bought and sold online. That's going to be at a quarter past the hour.

LEMON: Well, it's a skyline symbol of North Korea's much disputed nuclear program, and it won't be there tomorrow. The cooling tower at the Yongbyon reactor still -- still will crumble at -- to the ground, I should say. One step being taken by North Korea to ease concerns over its nuclear program.

Among the journalists looking on, CNN's chief international correspondent, Christiane Amanpour.

(BEGIN VIDEOTAPE)

CHRISTIANE AMANPOUR, CNN CHIEF INTERNATIONAL CORRESPONDENT: I'm reporting to you from North Korean television, here inside the studio, with a backdrop, a painted backdrop of Pyongyang behind me. This is a very rare occurrence, and we are invited amongst a small group of journalists from the six parties who are party to these negotiations that are aimed at disarming North Korea.

Today, North Korea handed over its long-awaited nuclear declaration to China, the chairperson of the six-party talks. They handed it over in Beijing. And as far as we know, they handed over some 60 pages, the detail of its activities at its Yongbyon plutonium nuclear reactor.

In return, in a carefully-sequenced stage of events, President Bush has announced that he is telling Congress that he is rescinding North Korea's status on the U.S. list of states that sponsor terrorism. He's also rescinding some sanctions that have been imposed on North Korea under the trading with the enemy list.

Now, in return, on Friday afternoon, North Korea time, at Yongbyon nuclear plant, North Koreans are going to implode, collapse their cooling tower, the distinctive tower that is an important feature of the nuclear reactor. Experts are saying that this, coupled with the systematic disabling of the Yongbyon nuclear plant ever since last summer, is a giant step forward in ending all the activities at Yongbyon.

Yongbyon, don't forget, is where North Korea over the years has been extracting plutonium and has been able to make several nuclear devices with that plutonium. In October of 2006, it test-fired a nuclear device.

Now, after these months of negotiations, they have finally reached the end of what's known as stage two, phase two, of these negotiations. It will take another phase before North Korea is expected to deal with its weaponization program, to hand over any plutonium that it has extracted, including those that it's turned into nuclear devices, and to then dismantle, fully dismantle, Yongbyon.

In addition, they hope to be able in the future to probe any uranium enrichment activities North Korea is suspected of having engaged in and to ask North Korea about any proliferation. In other words, exporting its nuclear knowledge, expertise and material to any third country.

I'm Christiane Amanpour, CNN, in Pyongyang, North Korea.

(END VIDEOTAPE)

KEILAR: Secretary of State Condoleezza Rice weighed in on the North Korean deal even before it was officially announced. She wrote an op-ed piece for this morning's "Wall Street Journal," and she trumpeted the deal as a major step forward while addressing the suspicions held by many in the international community.

She wrote, "What if North Korea cheats? The answer is simple. We will hold North Korea accountable. We will reimpose any applicable sanctions that we have waived -- plus add new ones. And because North Korea would be violating an agreement not only with us, but also with all of its neighbors, those countries would take appropriate measures as well."

LEMON: Well, despite international pressure to postpone tomorrow's controversial election in Zimbabwe, President Robert Mugabe is not backing down. He does say he's willing to talk with the opposition, but only after the vote. Mugabe's only opponent in tomorrow's election has withdrawn from the racing, accusing the Mugabe regime of violent repression against his supporters. Morgan Tsvangirai declared that if Mugabe goes ahead with the election, it will be too late to negotiate afterward.

KEILAR: Behind bars for the rest of his life. Neil Entwistle was sentenced this morning to two life terms without the chance for parole.

He was found guilty yesterday of killing his wife and baby daughter while living in Massachusetts two years ago. Entwistle claimed that his wife Rachel killed their baby, then herself, and he tried to cover it up to protect her honor, as he put it.

LEMON: Soft as a sponge but still holding. That's what the Army Corps of Engineers saying about a fragile levee outside Winfield, Missouri.

It's the only thing protecting about 100 homes and thousands of acres of farmland from flooding. Folks in nearby Clarksville have reinforced their wall of sandbags built last week to protect the town. So far, though, so good.

The river is expected to crest there tomorrow. And wouldn't you know, more rain is falling upstream.

(WEATHER REPORT)

LEMON: We have an update for you now on those hikers everyone was looking for in the rugged Sierra Nevada. Well, it turns out they hiked to safety and all are OK.

The nine teenagers and their two adult guides turned up at a remote store late yesterday afternoon. It's a few miles from where dozens of rescuers, volunteer mountaineers and parents were searching, and they were worried there, obviously.

The group was on a two-week outward bound adventure and was set to return tomorrow. Now, the search was launched when the hikers became separated from their senior guide.

Coming up, we'll speak with the father of one of those hikers.

KEILAR: An unexplained death near North -- pardon me, Fort Bragg, North Carolina. This is a soldier who's single and pregnant.

Also ahead, a key Supreme Court ruling regarding the Second Amendment. And we'll look at the ease of purchasing guns over the Internet.

(COMMERCIAL BREAK)

KEILAR: Back now to our top story, the biggest court ruling on guns in American history.

By the narrowest of margins, 5-4, the Supreme Court has ruled that a handgun ban in Washington, D.C., is unconstitutional. And unlike lots of other high court rulings and big-ticket legislation, this one hits members of Congress where they live -- part of the year, anyway.

Now, CNN's Kate Bolduan is gauging the reaction on Capitol Hill.

Kate, the decision really receiving some support there.

KATE BOLDUAN, CNN CORRESPONDENT: Yes, it sure is, Brianna. The reaction here has been swift, and it's really unusually atypical for Congress, cuts across party lines.

I mean, some lawmakers really applaud this decision, saying it's a triumph for Second Amendment rights. In fact, more than 300 lawmakers signed a legal brief, joined together to sign a legal brief asking the Supreme Court to do just as they did, to strike down the D.C. gun ban. And Republican Senator Kay Bailey Hutchison was one of those signatures.

(BEGIN VIDEO CLIP)

SEN. KAY BAILEY HUTCHISON (R), TEXAS: It will put in every law, in every state or local government, a clear delineation of the individual right to keep and bear arms in a person's home.

(END VIDEO CLIP)

BOLDUAN: So clearly, as you can see there, some lawmakers and many gun owners are cheering today -- Brianna.

KEILAR: Yes, but not everyone happy, by any stretch of the imagine, Kate.

BOLDUAN: No. There was also some outrage here on Capitol Hill.

Lawmakers like longtime gun control advocate Democratic Senator Dianne Feinstein, she says she fears that this ruling will have far- reaching fallout, and she says it endangers communities nationwide. Listen here.

(BEGIN VIDEO CLIP) SEN. DIANNE FEINSTEIN (D), CALIFORNIA: As a former mayor who's seen all of this, and I'm not a novice to it, I believe communities are less safe. I believe the District of Columbia is less safe. And we now have to look at where we might be able to go with new legislation.

(END VIDEO CLIP)

BOLDUAN: Some people do say they are still reading this ruling, but other than a bill that was signed into law in January that strengthened background checks for gun owners, it's really been over a decade, Brianna, since Congress has passed any significant gun control legislation.

KEILAR: Kate Bolduan for us on Capitol Hill -- thanks.

LEMON: Well, it used to be that you went into a gun store and you bought a gun, but not so much anymore. And this one is a little bit trickier. That's why we want to talk to our Josh Levs.

But first a little background here.

Gun laws are different from city to city, right, Josh?

JOSH LEVS, CNN CORRESPONDENT: Yes, sure.

LEMON: State to state, but the Internet is the Internet, and who really governs it?

Our Josh Levs joins us now to talk about that.

Josh, so what is -- what's the concern here when it comes to that, that people are just going online, upsurge in gun-buying online and what have you, where there really are no rules?

LEVS: Yes. Look, I mean, the Internet is playing into the easy availability.

This news today out of the Supreme Court is really getting a lot of Americans thinking in general about the availability of guns. So that's what we looked at here, is the Internet, and how is that playing out in terms of availability?

And you know, Don, I really like to find hard statistics that we can wrap our mind around. There aren't any here. And this in and of itself is a story. There's a reason for that, summed up very well by this quote we found from "The Albany Times Union."

Look at this quote here. It says, "The sale of guns on the Internet has increased tremendously, and federal agencies are not equipped to monitor the thousands of sales that authorities estimate take place each year."

Now, it says that in most cases the sales are legitimate, sometimes even requiring people to show up, to pick it up, and do background checks. But federal laws primarily scrutinize sales by gun dealers, and there's little regulation of secondhand sales involving many of the estimated -- get this -- 230 million guns that are privately owned. So obviously we're talking about a huge marketplace, much of which is unmonitored. And absolutely, these days you've got the Internet, which in a way can scale some of those city or state laws.

You all can learn a lot more about this at CNN.com. And while you're there, I want you to encourage you to look at two things here I think are fascinating.

First of all, this chart we're showing you here, this is where Americans stand on this issue. Look at this. Americans were asked, "Does the Constitution guarantee every person the right to own a gun?" More than two-thirds there, 67 percent, says, yes, it does. And only 30 percent said no.

One more thing I want to show you, too, Don. This is great, and it's historic in a way.

This decision today, you can actually go online to our Web site right now and hear the arguments on the different sides. Let's listen in.

(BEGIN AUDIO CLIP)

UNIDENTIFIED MALE: The Second Amendment was a direct response to concern over Article 1 Section 8 of the Constitution.

UNIDENTIFIED MALE: We have here a ban on all guns for all people in all homes at all times in the nation's capital. That, quite simply, is too broad and too sweeping under any level.

(END AUDIO CLIP)

LEVS: There you go. So anyone who wants to know what was said on the different sides, just go to CNN.com, and you're going to be able to hear the arguments on the different sides.

And that, by the way, was historic. When they start releasing audio from inside the Supreme Court, this now historic decision, historic day, you can hear the historic sound.

Don, there you go, more on all of this and Internet sales of guns at CNN.com.

LEMON: You know what I want to know, Josh -- and if you can get back to us or send me an e-mail and I'll get it on the air here -- but do you know if more guns -- I'm thinking it's probably in stores -- but if more guns are sold online or in stores?

LEVS: Right.

LEMON: And if that's, you know, how the numbers may be changing.

LEVS: I can answer that now.

LEMON: Yes, go ahead.

LEVS: I mean, because that was one of the main things I was looking for today. And one of the problems is, because it's so unmonitored, there is no trustworthy statistic giving a total. They do know that the number -- the ratio is kind of moving toward the Internet more and more.

LEMON: Right.

LEVS: But whether it's crossed over so that more overall is from the Internet than from stores themselves, we don't know. And because so much of this is underground, there's almost no way to know.

LEMON: There you go.

LEVS: There you go.

LEMON: And we will see how this -- if this changes anything at all.

Josh Levs, really appreciate that. Thank you.

LEVS: Thanks, Don.

KEILAR: She was taking on new assignments, both as a soldier and as a mom. And now her death has shocked two communities.

(BUSINESS REPORT)

(COMMERCIAL BREAK)

LEMON: Hello, everyone. I'm Don Lemon, live at the CNN world headquarters in Atlanta.

KEILAR: And I'm Brianna Keilar.

You're in the CNN NEWSROOM.

LEMON: Here are some of the stories we're working on for you today, right here in the CNN NEWSROOM.

President Bush is praising North Korea for turning over long- awaited information about its nuclear program. He has asked the State Department to remove North Korea from the U.S. list of states that support terror.

Gun control advocates are up in arms after the Supreme Court's 5- 4 ruling today overturning Washington's handgun ban. Citing the Second Amendment, the court says the D.C. ban is unconstitutional.

Tired of typing ".com" and ".org?" Well, soon there will be many more options for ending Web site addresses. An international panel has voted to relax the rules.

KEILAR: Less than 24 hours before polls open in Zimbabwe, international pressure is increasing to call off the runoff election amid reports of violence and intimidation. Meanwhile today in a surprise move, incumbent President Robert Mugabe says he may be willing to discuss a power-sharing agreement with the opposition.

Let's head down to Isha Sesay. She's at our Zimbabwe desk.

Isha, what's the latest?

ISHA SESAY, CNN CORRESPONDENT: Hi there, Brianna.

Yes, with the clock ticking down, President Mugabe now saying he may be open to negotiations. But the opposition leader, Morgan Tsvangirai, says there will be no talks if the election goes ahead.

Now, you may remember that Tsvangirai actually pulled out of this election on Sunday. The MDC leader says dozens of his supporters have been killed over the last couple of days, and tens -- last couple of weeks, I should say -- and tens of thousands displaced from their homes.

Now, the opposition party is saying -- and I want to quote directly from them -- that there will be "... a growing political genocide if this election is held." They are urging world leaders to intervene immediately.

British Prime Minister Gordon Brown and President Bush both condemning the events in Zimbabwe in recent days. In fact, the campaign of violence and intimidation that we have seen play out in Zimbabwe has attracted widespread international condemnation.

But right now we want to share with our viewers some pictures that really show the scale of the brutality that is being witnessed in Zimbabwe. I really feel we must warn you that the images you'll see are quite graphic. But we feel that you really must see them.

Now, this is new video of a family at a hospital in Zimbabwe. These are people who say they are relatives a prominent member of the opposition party. Now, they describe soldiers storming their home and beating them savagely. The daughter -- well, she was struck in the head. She doesn't know with what. And if you look closely at the son's back, it was burned with dripping plastic. That is actually a popular torture tactic there in Zimbabwe. And an X was beaten into his back, an X that resembles the X that you find on a ballot paper.

These are really, really horrible images, but the people in Zimbabwe they are contending with much more than just violence. Let's give you a snapshot of conditions on the ground -- 68 percent of Zimbabweans are living below the poverty line. Unemployment stands at more than 80 percent. The inflation rate is 164,000 percent. That is the highest in the world. And the average life expectancy is only 39 years.

There are chronic shortages of food and all basic goods.

And Brianna, to top it all off there are major reports saying that the army and the police have been deployed around the country to make sure that people vote for Mugabe and his Zanu-PF party. Back to you.

KEILAR: Isha Sesay for us at the Zimbabwe desk -- thanks.

LEMON: We have an update for you now on those hikers everyone was looking for in the rugged Sierra Nevada. Turns out they hiked to safety. All are OK. The nine teenagers and their two adult guides turned up at a remote store late yesterday afternoon just a few miles from where dozens of rescuers, volunteer mountaineers and parents were searching for them.

The group was on a two-week outward bound adventure and was set to return tomorrow. That search was launched when the hikers became separated from their senior guide.

Joining us now on the phone is the father of one of those hikers, Shelly Reid. If you remember we spoke to Mr. Reed yesterday, he and his wife. They were heading from Texas to California.

You talked to us about your concerns, Mr. Reid. And you have reached California. You have made contact with your daughter.

VOICE OF BILL REID, FATHER OF HIKER: Yes. We got to see our daughter last night. She is healthy and happy. She knew they were lost, but she had no idea of the search and rescue.

LEMON: She had no idea what was going on outside of her own little circle there, right?

REID: Right. She had assumed that they were lost because they were doing a lot of backtracking and hiking. Normally they said they would cover a territory of about four miles a day. They were actually covering about 12 miles a day.

LEMON: What do you mean assumed? No one told them in their group that they were lost?

REID: No, and rightfully so. I think the counselors were trying to protect the teenagers and not concern them, which I think was the right thing. But the counselors were lost, and they stumbled into that store, which was a great thing, because they were outside the area that they were supposed to be in. And that's why the search team wasn't finding them.

LEMON: All right. You think it's the right thing to do not to tell the teenagers? But yesterday you had some very strong words for Outward Bound. You said the wrong thing to do was not to notify you sooner.

How do you feel about that today?

REID: I feel the same way. And as I looked into it, I think Outward Bound made some mistakes. I think they're a very good organization and they need to make some corrections. But waiting four days to notify the parents, waiting four days to notify the Fresno County sheriff's search and rescue team could have been a costly mistake. Fortunately, it wasn't. LEMON: OK. If you could do -- just one word for me. How do you feel to have her back?

REID: Outstanding.

LEMON: That was one word. I thought you were going to go on.

Hey listen, we are as happy as you are, maybe. Thank you very much, Bill Reid.

REID: We're all very happy. I wanted to say one thing. Thank you for getting the word out because the people -- they found a ferry there, said, you are the missing people; we saw you on CNN. So thank you very much for your help.

LEMON: Glad we could be of help. And we're happy again that she is back safe, as well as all the other hikers.

Thank you, Mr. Reid.

REID: Have a great day.

LEMON: You too.

KEILAR: Well, no word yet on how Specialist Megan Lynn Touma died or exactly when. The autopsy is being handled by the state medical examiner's office in Chapel Hill, North Carolina.

The pregnant soldier's body was discovered earlier this week in a motel just outside of Ft. Bragg.

CNN's Randi Kaye has more.

(BEGIN VIDEOTAPE)

RANDI KAYE, CNN CORRESPONDENT: A dedicated and decorated soldier, preparing for another volunteer assignment with the army, dead inside a North Carolina hotel room. How Megan Touma died is a mystery.

(on camera): Touma's body was found over the weekend after someone reported a strong odor coming from Room 143. The 23-year-old dental specialist was seven months pregnant when she died. She had just arrived here a couple of weeks ago to be based at Ft. Bragg.

(voice-over): The army says Touma had been serving in Germany for three years. She was last seen at Ft. Bragg June 12. She had had the option of staying on base while her paperwork was processed, or pay for a hotel. She chose the hotel.

MAJ. ANGELA FUNARO, U.S. ARMY: We don't have any knowledge of any guests that she had with her -- if she had any guests at all.

KAYE: The hotel wouldn't say if Touma had visitors. Police are calling her death suspicious. They're waiting on the autopsy to know how she died. Touma's ex-husband says she told him she was going to name her son after him, even though he wasn't the father. El Sayed Touma says they were married three years. This would have been her first child.

EL SAYED TOUMA, VICTIM'S EX-HUSBAND: We had a great relationship and we remain good friends and we e-mailed each other. I still love her. I am married now and I have -- I have a wife and I have a baby on the way, but I still love Megan. I still do. And I would never stop.

KAYE: Touma's aunt told CNN she currently had a boyfriend. She met, him a fellow soldier, while serving in Germany and had moved to North Carolina to join him at Ft. Bragg. The aunt didn't know if Touma's boyfriend fathered her unborn child.

A soldier who served with Touma in Germany told CNN via e-mail, "She was very happy to be expecting her baby. She also showed me her ring and told me that she was getting married."

FUNARO: Here is a beautiful young woman. She was seven months pregnant. It's just sad, and deeply troubling.

KAYE: Ft. Bragg is providing witnesses and helping police establish a timeline. Grief doesn't wait for answers.

On her brother's MySpace page, a picture of them. His mood? Crushed. He writes, "R.I.P., rest in peace, big sis. We love you and you're in our hearts forever."

In her hometown of Cold Spring, Kentucky, shock.

CONNIE NELSON, FAMILY FRIEND: Megan Hunt (ph) was a sweet girl, kind of skipping down the road with her little long hair. Just sweet as she could be. She was a cheerleader, did well in school.

KAYE: Her success carried over to her military career. Among Touma's awards -- the Global War on Terrorism medal. She had also completed a combat life saver course, an advanced course to help her save a fellow soldier's life in the field. Not enough, it appears, to save her own.

Randi Kaye, CNN, Fayetteville, North Carolina.

(END VIDEOTAPE)

LEMON: Gun sellers had a lot riding on today's landmark Supreme Court ruling on the Second Amendment. We'll see what the outcome means for them.

(COMMERCIAL BREAK)

KEILAR: Topping our Political Ticker, Republican presidential candidate, John McCain, out on the campaign and the fundraising trail today in a key battleground state. McCain held a town hall meeting at Cincinnati's Xavier University where he talked pocketbook politics and congressional help for cash-strapped homeowners. (BEGIN VIDEO CLIP)

SEN. JOHN MCCAIN (R), PRESIDENTIAL CANDIDATE: The American dream is many things -- educate our children, have a better life. There's many things that are associated with the American dream -- live in a safer world. But one of the fundamentals is the ability of Americans to own their own home. We see that continuously eroded. So we're going to have to act, and act effectively.

(END VIDEO CLIP)

KEILAR: McCain's itinerary today includes a private meeting with area religious leaders and then a scheduled fundraiser in an upscale Cincinnati suburb.

Democratic presidential candidate, Barack Obama, campaigning for votes and financial support as well today. Obama spoke at an economic competitiveness forum at Carnegie Melon University in Pittsburgh, noting the present-day challenging and what may lie ahead if the nation does not change course.

(BEGIN VIDEO CLIP)

SEN. BARACK OBAMA (D), PRESIDENTIAL CANDIDATE: Just as we have to provide relief to Americans who are struggling, we also have to recognize that we are failing to put ourselves in a position to compete effectively in the global economy. Our country faces challenges to our leadership in this young century. Our children will grow up facing competition from their counterparts in Beijing and Bangalore. If we don't change course, there's no guarantee that the American dream will be there for my daughters, or your sons, as it was there for us.

(END VIDEO CLIP)

KEILAR: Cue up that Beatles song, "Come Together."

There we go.

The so-called Democratic dream team still not a reality when it comes to the party's presidential ticket. But tonight, Senator Hillary Clinton will join Obama as they make their first appearance together since she suspended her presidential campaign. Both doing some fundraising for one another before campaigning jointly tomorrow in Unity, New Hampshire. Our senior political correspondent, Candy Crowley, joining us next hour to talk about this unifying event.

You can check out our Political Ticker for all the latest campaign news. Just logon to CNNPolitics.com. It's your source for all things political.

LEMON: OK. We just got a bit of news coming in from Wall Street that oil prices soar to a new record high. CNNMoney.com's Poppy Harlow joins us now to run it down for us.

Poppy, tell us what this means for us. POPPY HARLOW, CNNMONEY.COM: Hi, Don.

What a last hour it's been for the market. The Dow down about 300 points right now; oil hitting a record intraday high today above $140 a barrel. This is the first time we've seen a number like this. Remember back on June 16 we were above $139. We're going to get the final close at about 3:00, so just in a little bit here. We'll bring you that number.

But what is driving this surge today?

Reports out that Libya may cut production. Also, earlier toady an OPEC official said crude could hit $170 a barrel this summer. We heard a few weeks ago, Morgan Stanley calling for $150 a barrel by July 4. Goldman Sachs going as far as calling for $200 a barrel. So really an unheard of surge in commodity prices, oil prices, right now.

We've also got a weak U.S. dollar compared to the euro and ongoing supply concerns, some concerns about supply disruption in Africa and the Middle East all at play here, Don.

LEMON: OK. So, we hear about Libya, Africa, Middle East and all of that. But this into perspective for us. What does this mean for people who are watching this right now? What should they know about this?

HARLOW: Sure. Well, when we started off of this year, beginning of '08, we were at $95.98 a barrel. So we're well above that now. We started 2007 at just above $61 a barrel. So you can see we're well above double where we were at at the start of '07. Really a historic climb today for oil. We're going to have the final numbers for you here shortly.

But of course the question I think a lot of Americans are asking out there is, what does this mean at the pump? What does this mean for their gas bill?

It usually takes about 10 days to two weeks in terms of a lag period. We've seen an easing of gas prices this week. So we'll see what we hear from AAA tomorrow morning -- Don.

LEMON: Yes. The gas prices are -- probably in 10 days if you have record high oil prices, gas prices will probably go up. And that means heating your home in the winter or what have you is going to go up as well.

Poppy Harlow, thank you very much for that.

KEILAR: Not quite Niagara Falls, but New York City hopes that it will become a tourist attraction nonetheless. The water is falling ahead in the NEWSROOM.

(COMMERCIAL BREAK)

LEMON: OK. We have a bit of developing news here. And I hate to report this. It seems like all doom and gloom when it comes to the economy. But if you're looking at the left side of me, you're looking at that, that is the Dow, down some 300 points -- I should say the right side of me -- some 300 points, Dow down. We are hearing from our folks on Wall Street that the selloff is really getting worse and it could be going south.

Also, we just reported just a short time ago, when it comes to trading of cruel oil, crude oil has reached an intraday high of $140 per barrel. That is higher than the previous record set back on June 16 of $139.89 a barrel. So I have a feeling we're going to be following this throughout the day, especially with trading day with a little bit more than an hour left to trade. We're going to see how bad or how much better things get here.

But we have some developing news when it comes to the economy. You want to stick right here.

Meantime, we're going to move on and talk about politics, Brianna.

KEILAR: Politics and the housing crisis. Every day Americans face foreclosure after falling behind on their house payments. But what happens when it is a member of Congress?

Our Kara Finnstrom reports.

(BEGIN VIDEOTAPE)

KARA FINNSTROM, CNN CORRESPONDENT: This is how it's supposed to work.

REP. NANCY PELOSI (D), HOUSE SPEAKER: Every member of Congress is responsible for living up to the highest ethical standard.

FINNSTROM: But the rest of Speaker Nancy Pelosi's message seemed aimed at one colleague in particular.

PELOSI: Many people in our country are caught in the foreclosure crisis. It wouldn't be -- members of Congress may be are as well.

FINNSTROM: Well, at least one is -- California Democratic congresswoman, Laura Richardson. She's in the middle of an ugly mortgage and financial mess. If fact, just one week ago both the House minority and majority leader asked whether their colleague should face an Ethics Committee investigation. Melanie Sloan heads the liberal watchdog group, Citizens for Responsibility and Ethics if Washington.

MELANIE SLOAN, CITIZENS FOR RESPONSIBILITY & ETHICS: Laura Richardson loaned her campaign committee $77,000 for her run for Congress. She did that at the same time she should have been paying her mortgage and her California property taxes.

FINNSTROM: Here is the back-story. Earlier this month, CNN and others reported Richardson's dizzying string of mortgage failures. The congresswoman had loaned her campaigns big money during her climb from local to national politics. At the same time, she was buying not a second, but a third house she could not afford.

CONGRESSWOMAN LAURA RICHARDSON, CALIFORNIA: I had a difficult time of being able to properly take care of all of the financial responsibilities that I had.

FINNSTROM: Lenders foreclosed on one of Richardson's houses. She repeatedly defaulted on her other two.

(on camera): Part of the response we've gotten has been -- she must have known she couldn't afford three homes. Why did she buy a third home?

RICHARDSON: I don't have a remark to that question.

FINNSTROM (voice-over): Eventually, Richardson's lender changed its mind on the foreclosure of one of her homes. And that angered the man who bought it at auction. He believes the congresswoman got preferential treatment.

As for the ethics investigation, that watchdog group says the appetite to investigate Congresswoman Richardson seems to have disappeared.

SLOAN: Although there have been members of Congress who have complained about her Laura Richardson's conduct, and have suggested that the Ethics Committee ought to look at it, nobody's actually gone to the trouble of sending a complaint over to the Ethics Committee, meaning that the Ethics Committee doesn't have to do anything.

FINNSTROM: Sloan's group filed a complaint anyway, charging the congresswoman crossed ethical lines.

And that brings us back to Steny Hoyer, the majority leader who wondered about investigating his Democratic colleague. He now appears to have done a political about-face. He's helping her with a fundraiser for her reelection bid.

REP. STENY HOYER (D), MAJORITY LEADER: That does not mean because I think questions have been raised it automatically one should assume that those allegations are true or founded. Therefore, Ms. Richardson asked me some weeks ago to sponsor a fundraiser for her, I assume with others. But in any event, I would do that for almost every one of our members and I agreed to do it that.

SLOAN: On the one hand he's saying that her conduct may be unethical. And on the other hand, he's holding a fundraiser to her help retire her campaign debt. Which means, basically, that he's helping her retire her debt to herself and helping her pay off her mortgage.

FINNSTROM: So while everyone's questions about Richardson's financial mess may continue --

HOYER: We're in a tough business. People are making attacks, allegations all the time. Again, the Ethics Committee is specifically designed to look at allegations regarding members' conduct. If this rises to that level, then I think the Ethics Committee should and will look into this matter.

FINNSTROM: At least in Washington, it's politics as usual.

Kara Finnstrom for CNN, Los Angeles.

(END VIDEOTAPE)

LEMON: From Washington now to Wall Street. Hold on to your portfolios because the Dow right now is tanking, to put it bluntly, down some 300 points with just over an hour left in the trading day. All this amid news of a record intraday high for oil trading.

We're going to be following it with our Susan Lisovicz as well as the rest of our money team right here in the CNN NEWSROOM. You don't want to miss it. A little bit more than an hour left in the trading day. This could get better, it could get a lot worse -- Brianna.

KEILAR: Don, this time we mean it. The future is here. Just take a look at this building being planned in Dubai. We're going to show you more pictures ahead.

(COMMERCIAL BREAK)

KEILAR: We've got breaking news now coming out of Mexico City. CNN's Harris Whitbeck joining us now on the phone from Mexico City.

Harris, what can you tell us?

VOICE OF HARRIS WHITBECK, CNN CORRESPONDENT: Brianna, more drug- related violence in Mexico City. Reports coming in that another high- level officer, Mexican federal police, was gunned down this morning. He was apparently having lunch with one of his bodyguards when he was gunned down by three men. The name we have is Igor Labastida Calderon. He was one of the top lieutenants to the Mexican chief -- the chief of the Mexican federal police who was gunned down last May.

There has been escalation in drug-related violence, violence that is now reaching the highest levels of the federal law enforcement officials here. The assassination today came on the same day that Mexico announced it was willing to extradite one of the chiefs of the Tijuana drug cartel, Benhamin Arellano Felix (ph), to the United States.

At this point, while there's no indication that the killing is directly related to that announcement, it is interesting that it occurred on the same day -- Brianna.

KEILAR: I'm certain that there's some speculation over that, Harris.

Can you clarify for us, because we have a report that there were two high-level Mexican federal agents gunned down. Is it just one, or is it two?

WHITBECK: Well, we've now been able to clarify that it was one high-level police officer, and the other person who was killed was his bodyguard, who was also a member of the police.

KEILAR: I see, OK. So two killed, but one a Mexican federal agent. So we should -- we're going to issue a correction here to our lower third there in just a moment. Obviously a continuation to the war on drugs there.

Harris Whitbeck joining us by the phone. Thanks for that, Harris.

And the next hour of the CNN NEWSROOM begins right now.

A shot heard around the country. The Supreme Court overturns Washington, D.C.'s ban on handguns. What the ruling may mean for your town.

LEMON: And a show of unity in Unity. Barack Obama and Hillary Clinton get ready for a display of Democratic solidarity.

But will their supporters bury the hatchet, too?

KEILAR: And a Bronx bombshell. New York City health officials want every adult in the Bronx tested for AIDS. We're going to tell you why.

Hi there, I'm Brianna Keilar live at the CNN World Headquarters in Atlanta.

LEMON: That is a very interesting story. We're also following breaking news on Wall Street as well.

I'm Don Lemon. You're live in the CNN NEWSROOM.