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Navy Seal Cleared; Changing Wall Street's Rules

Aired April 22, 2010 - 10:00   ET

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

KYRA PHILLIPS, CNN ANCHOR: And we are going to start with war games in the Persian Gulf, right on Iraq's doorstep and the U.S. is just a spectator. Actually, these are games for Iran, just Iran. They're showing off some new military hardware in the oil lane. In particular, something being described as a super fast speed boat armed to the teeth.

A search in the Gulf of Mexico. Here are new i-report pictures of what we're talking about. An oil rig exploded and it's still on fire. 11 people are missing. The Coast Guard is out there in full force. More than 100 rig workers survived and they just arrived back onshore just a few hours ago greeted by their relieved families.

President Obama right now headed to the heart of the nation's financial district and he's going to be in Manhattan, around Wall Street for some finger-pointing. The nation's chief executive wants financial reform. You can bet CNN will be there as well.

We're going to take a quick break. More from the CNN NEWSROOM straight ahead.

(COMMERCIAL BREAK)

PHILLIPS: A shocking moment in the Iraqi war. Four American contractors killed on the streets of Baghdad and then strung up for the entire world to see. A public lynching, plastered on the front page of newspapers. We're not going to show it again. It's far too painful and it took more than five years for the military to actually track down a prime suspect, a mastermind.

His capture and possibly over zealous interrogation led to courts martial for three Navy Seals. The first one, Petty Officer First Class Julio Huertas, on trial for watching it all happen, cleared this morning. He demanded a military trial, no easy discharge and wanted to clear his name.

CNN's Mohammed Jamjoom live in Baghdad for us this morning. So Mohammed the pictures actually show this guy that was interrogated, right? How bad was it? Because he claims one thing and the Navy Seals claim another.

MOHAMMED JAMJOOM, CNN CORRESPONDENT: Kyra, as you said yesterday, fairly early on in the trial the accuser here, the detainee, Ahmed Abed, the alleged mastermind of the killings in Fallujah in 2004, he took the stand. He took the stand for about an hour. He testified to abuse far more extensive than had been alleged before. He said not only was he punched in the stomach, he was beaten on the shoulder, beaten on the back and repeatedly kicked, then punched in the stomach that he bled profusely.

We did see pictures that were provided to us by court officers. What we saw was there was definitely a gash in the inside of his right lip and that's something that everybody testified to and that wasn't contradictory in any way in what others testified to, but it didn't appear to be bruising of any other kind. Now some people said that could be because bruises don't appear until 30 to 40 hours after the fact.

Nonetheless, the pictures that were shown at least two sets of pictures that were shown to the jurors there, made up of six Navy members showed that he did not have extensive bruising. Kyra.

PHILLIPS: Well, like we said, this one Navy Seal has been cleared. Now there's two more on trial, right?

JAMJOOM: That's right. Two more on trial, two more court martial to go. Now these court martials could have happened in the U.S. or could have happened in Iraq. The reason, two of them are happening in Iraq is because the defendants want to be able to face the accuser in court. The government of Iraq will not allow the detainee to travel outside of Iraq to go to the states to provide testimony.

That's why Petty Officer Huertas decided to come here to have his court-martial here and also Petty Officer Keith will have his court- martial here. Petty Officer McCabe has decided to have testimony done here to take a vie deposition of the accuser but not to have his court martial here. His court martial will be in Norfolk, Virginia on May 6th.

Nonetheless, this is a case that has really galvanized the military. There's been a lot of stuff online, there are facebook pages and hundreds of thousands of people saying it is very odd that this is going on. They don't understand why these troops have been charged with these crimes. Kyra.

PHILLIPS: And we can never forget those pictures of seeing our guys brutally murdered and then hanging there on the bridge. I'll never forget that, that picture on the front page of the "New York Times" and bottom line, whether this guy that was in court saying that he was interrogated and beaten up, we still don't know for sure if he was the one that orchestrated those killings and the hangings of those dead bodies. We're still looking for who did it for sure, correct?

JAMJOOM: Absolutely. As you said, this was a turning point in the war here that showed how fierce the insurgency was. You saw those pictures and it shocked the world and it shocked American officials and it really started the offense that happened in Fallujah in late 2004. It was really the turning point that caused that, but again, there are still a lot of questions.

Here in Iraq you see a lot of the people that are responsible for attacks such as these against Americans, other contractors, other soldiers, it takes a while to find them but there are a lot of cells throughout the country, a lot of suspected terrorist cells and it takes a lot of digging, a lot of chasing for the troops here to be able to locate these people.

Now, Ahmed Abed, yesterday, when he was on the stand. He testified for about an hour. He was wearing a yellow jump suit. He was cuffed. He said he had nothing to do with this. He is a family man. He said actually he provided intel to American troops and to Iraqi security officials in order to help them capture terrorists. Nonetheless, he is charged with these crimes. He is going to have a court proceeding in Iraq but they're still on the hunt for more people that are behind this attack. Kyra.

PHILLIPS: This story we'll definitely follow. Mohammed Jamjoom, thanks so much.

The other story that we're following as we're waiting for the president to speak live in about a little less than two hours. He is almost certainly going to say that the need for reform is painfully obvious to most Americans and we're talking about Wall Street reform.

October 2008, the white-knuckled ride on Wall Street turning to panic. How can we forget? In less than two weeks, stocks plunged more than 22 percent. Americans saw their life savings shrivel. Well, maybe not all Americans, certainly not executives of insurance giant, AIG. Remember this? They lived it up at this posh luxury resort less than a week after taxpayers shelled out $85 billion to keep their company afloat.

We've also footed the bill for all of the banks that have gambled and lost and lost big. Yep, you and I paying for all those risky bets and shaky loans. Last year, 140 banks failed. This year we're on track for even more to go belly up. So the big question, how do we avoid a replay of these nightmares that many of us are still living? We don't want to bog you down with all of the technicalities.

We just want to get to the bottom line. What would these reforms mean to you and your wallet? Chief business correspondent Ali Velshi joining us once again, we'll try to break it down in simple terms. The president steps up to the mike at 11:55 Eastern time, and he's going to say I want reform and this is what I want to do. What does it mean to you and me, bottom line?

ALI VELSHI, CNN, CHIEF BUSINESS CORRESPONDENT: He's addressing Wall Street. He's going to be addressing his remarks to corporate America. This is about fairness, right? You, me, our viewers. They all feel that the recessions come and go, the one we went through would have come any anyway, but might it have been as severe if there were few more people, few more participants in the financial process who were following rules?

Well, here's the thing. The rules haven't been updated in a long time. In fact, the only update to financial regulations since the Great Depression had been changes that have made it easier or have taken rules away, not added rules and the other thing is that there's a real sense that there isn't enough enforcement of the rules that are on the books.

So what the president is going to say is that business can succeed. Nobody wants to get in the way of business because we invest in businesses, we work for businesses, we profit from them, they create jobs, but there needs to be some fairness, some transparency, some sense that you do want to take risks, but those risks have to be managed. They have to be understood and if you are taking too big a risk, somebody needs to be able to say, some regulator needs to be able to say, "can we look at that and see what you're doing and what you're up to?" Obviously, there's some opposition to that.

PHILLIPS: But what has given, you know, members of Wall Street, the power to even say you can't do that because they're the ones that hosed Americans in the first place. Why should we trust them?

VELSHI: There's no moral authority there.

PHILLIPS: No.

VELSHI: There's no moral authority for them to say that.

PHILLIPS: No ethics, no moral authority.

VELSHI: But their argument is that you don't know our business the way we do. Sure, things went wrong, but we have the innovation to come up with new and inventive ideas to make money and you won't understand them. So your general impression is don't try that because we don't know what that's going to do down the line.

PHILLIPS: Not if you have the right people looking over the ideas.

VELSHI: And that is something - there are a lot of those people who have been attracted to this administration and if you beef up the regulatory bodies then maybe you'll get the accountants and the lawyers who normally go out to private practice and they'll say I like this.

I want to be the Elliott Ness of this administration or I want to keep business honest. Well, guess what? I'm an accountant and a lawyer and I'm pro-business. I want to make sure that there's a level playing field and their business has a great reputation for creating jobs and creating wealth, not stealing wealth and eliminating jobs.

So I think you're right. You can get the right people into regulation, but not in a Washington where for 15 years there's been a culture of deregulation. A culture of get out of the way and let business do anything they want. Business can succeed with rules.

PHILLIPS: Cultural crooks, too. Bottom line.

VELSHI: There have been crooks. No question.

PHILLIPS: Robbers of the American people.

VELSHI: All right. Ali, thanks. We'll be talking to you, obviously more and we'll be following the president's speech live.

Still ahead, one investor's story, half her investments lost, her retirement totally snatched away and she says that's when her trust was really betrayed by Wall Street. Her story later in the NEWSROOM.

RNC chair Michael Steele taking the party to task. During a speech at Paul University, he said that people need to embrace and work with the tea party followers, but here's where the headline comes from. Steele also said he doesn't know why African-Americans would vote Republican. He said "The Republican Party had a hand in forming the NAACP and yet we've mistreated that relationship. People don't walk away from their parties. Their parties walk away from them."

That wasn't all. He criticized the party for their so-called southern strategy, courting white male voters in the south. He said it blew up in their face when "bubba voted for Bill Clinton."

Racial profiling or good police work? That's the basic debate in Arizona over controversial new immigration bill. The protest caravan on the way to Phoenix from L.A. illustrating how the local issue is fanning flames across the country. CNN's Casey Wian has more.

(BEGIN VIDEOTAPE)

CASEY WIAN, CNN CORRESPONDENT (voice-over): The battle over immigration law enforcement in Arizona is now being waged on the streets of Los Angeles.

UNIDENTIFIED MALE: May the energy of your earth created without borders for all rise within us and give new life to our struggle.

WIAN: By an Illinois congressman who calls it profiling.

REP. LUIS GUTIERREZ (D), ILLINOIS: Look at my face. Listen to my voice. I'd probably get picked up in Arizona and questioned. Is that what we want in America?

WIAN: But Arizona sheriffs who travel to Washington, D.C., say it's exactly what they need.

SHERIFF PAUL BABEUA, PINAL COUNTY, ARIZONA: I'm telling you that most sheriffs, I wouldn't dare to speak for anybody else, but most of us in law enforcement welcome this legislation.

WIAN: That legislation allows, even encourages, local law enforcement officers in Arizona to check the immigration status of anyone they have a reasonable suspicion is in the country illegally. It also makes lacking proper papers a state crime and allows citizens to sue state officials who don't comply. Arizona state Senator Russell Pearce, a former sheriff's deputy sponsored the law.

RUSSELL PEARCE, AUTHOR OF IMMIGRATION LAW: we'll take the handcuffs off of law enforcement and we'll put them on the bad guy. The illegal is not a race, it's a crime.

WIAN: Opponents say bill number 1070 which awaits Governor Han Brewer's signature will lead to racial profiling of all Latinos in Arizona.

JORGE MARIO CABRERA, COALITION FOR HUMANE IMMIGRANTS RIGHTS: We are very concerned that 1070 will signify the end of the Latino community in Arizona, and I'm not kidding about this.

WIAN: But the law explicitly prohibits profiling. We read it to this protest leader in Los Angeles who was unmoved.

(on camera): A law enforcement official or agency may not solely consider race, color or national origin in implementing the requirements of this sub section -

(CROSSTALK)

RABBI JASON VAN LEEEUWEN, CLERGY & LAITY UNITED FOR ECONOMIC JUSTICE: But they may consider it, they may not solely consider it, but they may consider it which means in practice they can claim there are other factors involved.

CABRERA: This law is not only vague enough to create rogue police officers detaining people just because of the color of their skin, but it is also directly impacting thousands and thousands of families.

WIAN (voice-over): The law has clearly divided law enforcement officials and residents both in and out of Arizona. They do agree that federal courts will likely have to decide if it's constitutional.

(on camera): Arizona's governor has until midnight Friday to sign the bill, veto it or do nothing. She does nothing, the bill becomes law.

Casey Wian, CNN, Los Angeles.

(END VIDEOTAPE)

PHILLIPS: It looks like snow, doesn't it? It's not, though. It's actually marble and pea-sized hail piled up to four inches deep in the Denver area. Storms swirled across parts of Colorado and more severe weather is expected today.

Good thing they still have those snow trucks out, Rob.

ROB MARCIANO, AMS METEOROLOGIST: They probably have them gassed up still from the snow, actually it's snowing in the mountains, getting word that there are still a couple of resorts that are open. The basin had five inches of snow last night. So my friends our there are debating whether or not they should go to work in five inches in late April. That's power day.

All right. All from this storm, so we got the high plains seeing hail that looks like snow and the higher elevations of the mountains seeing snow that looks like snow as well. And it's all moving towards the east, slowly, but surely, kind of spinning around this low that center really over the Great Basin, even some thunder storms and showers across parts of California in the past couple of days and some still spiraling around the back side of this thing.

The Sierra Nevada seeing snow as well. But out ahead of it, that's where the atmospheric energy is trying to formulate some thunderstorms that have been severe this morning. Just north of Wichita, this cell has had a history of producing some hail and some gusty winds that is no longer severe but nonetheless is moving across the state at about 25 to 30 miles an hour.

The entire system will be slowly moving across the entire southeastern third of the U.S. here over the next day or two, right through Saturday, actually right through Sunday, it will move into the Delmarva and that will produce some thunderstorms as well. But the red area, you see there, especially on Saturday from northern Alabama and through parts of Tennessee and Kentucky and that's where you're most concerned for seeing some severe weather.

As far as travel goes today, we had some problems earlier with fog, across D.C., Baltimore and Philly. That fog, for the most part since has lifted and Dallas in the Fort Worth area will see some afternoon thunderstorms so that will create some problems. Also thunderstorms in Denver eastward and maybe some delays there and we don't anticipate multi-hour delays and all flights are resuming across parts of Europe. So travel has become a little bit easier, finally.

PHILLIPS: That's good to hear. Thanks, Rob.

Out of rehab, finally. Not talking about party animal starlets or sexually active golfers, but the cutest little reptiles on the planet. Marine biologists have given three green sea turtles their freedom. They've been in rehab for months, found as injured and weak little babies on the beach and now Hutchison, Squirt and Zain are back in the wild doing what sea turtles do. Good luck, guys. Beware of barracudas bearing gifts.

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(COMMERCIAL BREAK)

PHILLIPS: President Obama headed for New York this morning. He's going to be around Wall Street to talk about the need for financial reform. We're going to bring you the president's speech live. That's about 11:55 Eastern time today.

A desperate search in the Gulf of Mexico. Here's new i-report pictures that were given to us. An oil rig exploding and still on fire. 11 people missing. The Coast Guard is out there in full force. More than 100 people, believe it or not, survived this and they just arrived back onshore a few hours ago and they were greeted by their very relieved families.

War games in the Persian Gulf right on Iraq's doorstep and the U.S. is just a spectator. Actually these are games for Iran, just Iran. They're showing off some new military hardware in the oil lane. In particular, something being described as a super fast speed boat armed to the teeth. So you remember the '60s, turn on, tune in, drop out. Psychedelic drugs aren't just for hippies anymore. Doctors now say those drugs could be good medicine.

(COMMERCIAL BREAK)

PHILLIPS: All right. Remember the '60s? Turn on, tune in, drop out? Well, psychedelic drugs aren't just for hippies anymore. As CNN's Dan Simon reports doctors now say those drugs could be good medicine.

(BEGIN VIDEOTAPE)

DAN SIMON, CNN CORRESPONDENT (voice-over): They're the drugs once associated with hippies in the 1960s, LSD, hallucinogenic mushroom, once feared as a one way ticket to insanity. Now being discussed as real medicine to treat real problems.

RICK DOBLIN, PSYCHEDELIC DRUG EXPERT: Well, I am a firm believer. I've seen it work in many people.

SIMON: Rick Doblin imagines a day when patients will be able to go to their doctor's offices for their doses of LSD or ecstasy pills.

DOBLIN: I think eventually there will be psychedelic clinics regulated by the FDA with people who are especially trained to administer the psychedelics and people will come to them for medical purposes or for rites of passage in their life or personal growth.

SIMON: Doblin comes with credentials and he's got a Ph.D. from Harvard in public policy and has spent years studying psychedelics.

(on camera): Proving that there's a conviction for practically everything, researchers from around the world have come to San Jose, California to talk about psychedelic drugs. Here at the Holiday Inn, they're sharing stories about those drugs and their hope that one day they will become a regular part of medicine.

(voice-over): Here at the conference, we found Sara Huntley who said she was abused emotionally and physically as a child.

SARA HUNTLEY, USED MDMA: It made me feel worthless, most of the time and that I was a burden to that member of my family and that I wasn't really worth that burden.

SIMON: She says the abuse stripped her of self-confidence and then as a 17-year-old high school student she started taking the drug ecstasy, scientifically known as MDMA.

(on camera): MDMA or ecstasy, you see right here was developed in the early 20th century as a possible appetite suppressant. Of course, people use it for its hallucinogenic effects. Users say it can heighten their senses and lower their inhibitions.

(voice-over): Now 23, Sara says MDMA helped get her life back.

HUNTLEY: Using MDMA helped ease my sense of fear and defensiveness.

UNIDENTIFIED MALE: They talk about being happy.

SIMON: Psychiatrist Michael Mithoefer never examined Sara but believes psychedelics hold tremendous promise. Through a study approved by the Food and Drug Administration, he's been administrating MDMA to patients with post traumatic stress disorder.

(on camera): As a doctor, what makes you think that psychedelics can be helpful?

DR. MICHAEL MITHOEFER, ADMINISTERS MDMA: We know the treatment of PTSD involves revisiting the trauma in a therapeutic session. So our idea is that MDMA may bring people in a kind of an optimal zone of arousal where they can connect with their feelings, but they aren't going to be overwhelmed by fear.

SIMON: For advocates, the key is matching the drug with the problem. Silosidem found in certain mushrooms might be used to treat anxiety related to terminal illness, the same for LSD.

DOBLIN: It can vary according to what issues they're working with and how much denial they have but we would like psychiatrists and psychotherapist have access to a whole tool chest of psychedelics that they can use at appropriate times.

SIMON: But some doctors question whether psychedelics are ever appropriate. Stanford psychiatrist David Spiegel says there's no scientific literature yet to back up any positive claims.

DR. DAVID SPIEGEL, STANFORD UNIVERSITY: The key issue in the treatment of this disorder is teaching people how to access their memories and feelings about the trauma in a controlled way. And psychedelics are anything, but a controlled experience.

SIMON: For now, that's the mainstream medical consensus.

UNIDENTIFIED MALE: Maybe if you get your MDMA -

SIMON: But supporters here hope that over time, psychedelics will be seen less as a bad trip and more as legitimate medicine.

(END VIDEOTAPE)

PHILLIPS: That brings us to this morning's blog question. Should psychedelic drugs be used as legitimate medicine? Tell us what you think. We want to know what you think. Go to my blog, cnn.com/kyra and post your thoughts.

If you own stocks, you know the feeling. Wall Street tanks and your investment shrivels. One investor says her heart wrenching losses were only the beginning of her ordeal. Her story, straight ahead.

(COMMERCIAL BREAK) PHILLIPS: Democrats and Republicans still reporting progress on a bill aimed at reforming Wall Street, and a Senate committee approved related legislation yesterday. Tough new limits on Wall Street's ability to trade those controversial and risky derivatives.

The senators weren't the only ones there. Who else? Lobbyists. The financial sector has spent $455 million on lobbyists to protect the billions of dollars they have at stake. Senior congressional correspondent Dana Bash takes us on the inside.

(BEGIN VIDEOTAPE)

DANA BASH, CNN SENIOR CONGRESSIONAL CORRESPONDENT (voice-over): Who's waiting in this long line to get into a key Senate committee meeting on financial reform? A lot of lobbyists. The reason for the line is inside this room, senators are working on details of legislation that would for the first time establish oversight on the financial derivatives market. We're talking about hundreds of trillions of dollars in deals, the kind that led to the panic that helped cause the near collapse of the financial industry.

SEN. BLANCHE LINCOLN (D), ARKANSAS: Within a decade, this market exploded to $600 trillion in notional value. We must bring transparency and accountability to these markets.

BASH: In the back of the room you see the committee, and what they're doing is poring over this legislation, line by line, and that's why you have this, lobbyists. They are here watching very carefully. And the lobbyists here represent some of the big banks on Wall Street, who reap billions of dollars in profits from this mostly unregulated derivatives trading, but it's not just them.

There are also lobbyists here representing farmers, manufacturers, and businesses, who want to preserve their bottom line. They say that bottom line is helped by derivatives trading. That's why this lobbyist, representing an agribusiness is here. You want to make sure that they don't go too far.

JON HIKSON, LOBBYIST: We need a balanced bill that adds transparency and does a lot of the good things but, again, still allows U.S. manufacturers to be competitive.

BASH: You're a lobbyist.

DOROTHY COLEMAN, LOBBYIST: I am.

BASH: Lobbyists as you know maybe don't have the best reputation in this country and certainly at a time when people are pretty angry at Washington. What do you want people to know about your job as a lobbyist?

COLEMAN: Well, I think were first of all, I'm an advocate for manufacturing and my efforts really are trying to educate members of Congress and their staff on the impact of legislation on the manufacturing sector. BASH: And what about the lobbyists from Wall Street banks and big financial firms, concerned about new regulation? Well, we found several, but they didn't want to talk to us on the record, until we tried this approach.

I'm Dana Bash with CNN. How are you? He's a Washington lobbyist. Who does he represent? Any big banks?

JAKE SEHER, LOBBYIST: No.

BASH: Any financial firms at all?

SHRER: Several financial firms. We're mostly following this development. This is a very important issue here. And it has great implications for any number of institutions, not just on Wall Street but across the country.

BASH (voice-over): An official representing big Wall Street banks later admitted to CNN they're pushing back hard on several provisions in the bill that would make it harder to reap their billions in profits on derivatives trading.

But more and more, it looks like Wall Street has an uphill fight.

The committee approved legislation limiting Wall Street's ability to make those controversial trades, and it was even bipartisan. Republican Charles Grassley voted yes, too.

Dana Bash, CNN, Capitol Hill.

(END VIDEOTAPE)

PHILLIPS: Here's one investor's story. She saved money, invested it, and watched it evaporate as Wall Street tanked. Sound familiar? But ailing Kristal says the real injustice was when she reached out for help and found out her trust was betrayed.

Now this retired lawyer is racing the clock and her dwindling savings to scuttle her retirement and find a job.

Aleen, let's start right there. How has the financial meltdown changed your life?

ALENE KRISTAL, FORMER ATTORNEY, WALL STREET VICTIM: Well, I lost close 40 percent of my retirement savings in the meltdown in fall of 2008. And in October of that year, I saw Chase Bank's full-page advertisement in "The New York Times," suggesting that customers, home equity loan customers like myself, apply for loan modifications to help them out.

After five frustrating months of phone calls being bounced from department to department, multiple document submissions, and actual advice to default on my payments in order to qualify for assistance, I was told I wasn't going to get any. Their reasoning? I was retired, unemployed, and I had defaulted on one of my payments. Kyra, it was like I fell down the rabbit hole. PHILLIPS: Yes, and I think a lot of people feel that way. And I see that you put your thoughts together. I know this was sort of a nerve-racking experience to have to come on and talk about this, you know, kind of stuff. It never sits well.

But do me a favor, you know, get rid of those notes for a second and talk to me like a girlfriend and tell me, when you started to see your money dwindling, you know? Were you angry? Were you screaming at Wall Street? Did you want to see, you know, these executives, you know, get socked in the face? Tell me how outraged you were as you watched them live a really nice life and basically take your money and flush it down the toilet.

KRISTAL: Frankly, Kyra, I was livid. If I could have without consequence gone and whacked them all on the head with a golf club, I would have done so.

(LAUGHTER)

PHILLIPS: I think a lot of people feel that way, Alene.

KRISTAL: And the fact of the matter is that not only did they behave this way, but they showed absolutely no remorse. And that caused me to be even more outraged. I've lost a lot of nights' sleep over this, and I see my financial future looking a whole lot more dim than it did when, you know, before 2008. I was doing fine.

PHILLIPS: So let me ask you this, Alene. The president is get being ready to give this big reform on Wall Street speech at 11:55 Eastern time. My guess is you'll be listening. What is it you want to hear? Will he be able to say anything to make you feel better?

KRISTAL: Well, he can say a few things. He can say that the Financial Reform Act is definitely going to pass and really change the face of the financial markets as we know it. And within that bill, I hope he will say that there will be a clampdown on the trading of derivatives.

I don't expect him to say they're going to repeal the Glass- Steagall Act, but I would be in favor of that. I know Senator Brown has put forth an amendment to limit the size of big banks so that they can't fail or prevent us from suffering from their failure. So, I would like to hear all of that.

I'd also like to hear him address something they know is not in the bill, which enrages me and probably most people in this country more than anything else, and that's the issue of executive compensation. Here I am, sitting a responsible citizen, doing all the right things, and people who are unbelievably greedy sat around and --

PHILLIPS: Took advantage of that.

KRISTAL: -- watched their companies -- they not only -- they made it happen and they profited from it while their companies went bankrupt, for which we gave them money in the form of T.A.R.P. funds. To me this is -- this just defies logic. PHILLIPS: Well -- It does defy logic. And there are so many people out there that feel exactly the way you do, and they are hoping to get something, some sort of -- I guess faith restored in the system once the president make his speech.

KRISTAL: Right.

PHILLIPS: Let me ask you a question, Alene. This is Thursday, and usually we do our "30-Second Pitches" on Thursdays. We bring in folks that are looking for work. They've got 30 seconds to give their spiel.

Would you be open to doing that right now? Because I know you're looking for work. I know you're struggling. I know you're completely stressed out about your dwindling savings and what happened to you because of the Wall Street nightmare. How about I give you 30 seconds, and you give a pitch? We'll put your email up. What do you think? Are you up for that?

KRISTAL: Absolutely.

PHILLIPS: OK. Let's do it. Let's go ahead and do it. And I'll let you know when your 30 seconds are up, if you're still going. We'll wing it here, get your e-mail up and Alene Kristal. Let's go for it. Start when you're ready.

KRISTAL: Hi. I'm a retired lawyer. I also have an MBA and a masters degree in psychology. I have extensive experience in research and writing, in regulatory interpretation and electronic discovery. I've also worked as a consultant to a Fortune 500 company marketing division, and I've been a psychotherapist. So, I've done a lot of different things in my lifetime.

I'm looking for a job that will take advantage and capitalize on the talents that I have. I'm a very hard worker, I'm a good team player --

(BELL RINGS)

KRISTAL: -- and I'm a fast learner. Hire me!

(LAUGHTER)

PHILLIPS: There you go, and I'm with you. Hire Alene, and I'll going to reiterate that e-mail ask8 - the letter 8 -- @verizon.net. Alene Kristal, you know, it breaks my heart to hear your story, but this is exactly how we want to put things in perspective as the president gets ready to give this speech on Wall Street reform.

You keep us updated. We'll make you're on my blog and we'll be pushing hard for someone to reach out and get you hired.

KRISTAL: I appreciate the opportunity.

PHILLIPS: Well, it was an absolute pleasure, Alene. Thank you so much. KRISTAL: You're welcome.

PHILLIPS: And once again, you know Alene will be watching and so will we. We're going ot have live coverage of President Obama's speech on Wall Street reform, now scheduled at 11:55 Eastern, 8:55 pacific. Stay right there.

(COMMERCIAL BREAK)

PHILLIPS: Just in. Home sales up more than expected last month. The National Association of Realtors says sales of previously occupied homes rose 6.8 percent to 5.35 million. The uptick reflects those federal tax credits for buyers, but the real test of how the market is won't come until after the tax credits expire at end of the month. The March numbers halt a three-month decline.

Steve Jobs, you really, really need to put Virginia Campbell in an Apple commercial. She's 99 years old and loves her new iPad. It's the first computer she's ever had in her long life. Heck, she remembers when people were talking about the new-fangeled radio thing. She just leapfrogged into the 21st century. The iPad's really opened her eyes. Take a listen.

(BEGIN VIDEO CLIP)

VIRGINIA CAMPBELL, 99-YEAR-OLD IPAD OWNER: It's opened the world. It's just great because before that I couldn't -- I couldn't barely see to read.

(END VIDEO CLIP)

PHILLIPS: Well, here's the deal. Virginia has glaucoma, and her new gadget's made it easier for her to read. She sailed through two books already. She can also write a lot easier with the keypad. Never too late to get with the times. The video for learning to use it has gotten about 40,000 views on YouTube right now.

(MUSIC PLAYING)

(COMMERCIAL BREAK)

PHILLIPS: His mom wanted him to have a better life. She died while trying to do it, and that's when Elian Gonzalez became world famous for an international custody dispute. Then came the dramatic snatch. Federal agents launched a pre-dawn raid in Miami's Little Havana neighborhood.

I'll sure never forget it. Miles O'Brien and I were working that day ten years ago.

(BEGIN VIDEO CLIP)

ANNOUNCER: This is CNN breaking news.

PHILLIPS: And good morning, everyone. We have breaking news for you this morning. I'm Kyra Phillips here in Atlanta. MILES O'BRIEN, FORMER CNN ANCHOR: And I'm Miles O'Brien. Some breaking news related to the Elian Gonzalez case, the five-month saga of the 6-year-old boy from Cuba takes a dramatic turn. About an hour ago, in the Little Havana section in Miami, about four or five minivans swooped down on the modest home of Lazaro Gonzalez, approximately two dozen federal agents with them. They used a battering ram to gain access to the home, shortly thereafter carried Elian Gonzalez, the 6-year-old boy --carried into the white van you see there.

(END VIDEO CLIP)

PHILLIPS: Now, that little boy you see in the arms of that agent, is 16 years old and not surprising, attending a Cuban military academy. No custody battle. No TV crews and no raids from the bedroom. CNN's Shasta Darlington reports.

(BEGIN VIDEOTAPE)

SHASTA DARLINGTON, CNN CORRESPONDENT (voice-over): You probably remember the face. Elian Gonzalez, the Cuban rafter boy at the heart of a politically charged custody battle.

He's not so little anymore. Elian, now 16, attends a Cuban military academy. He joined the Union of Communist Youth, vowing to follow the example of Fidel and Raul Castro.

Elian was just 5 when a smuggler's boat headed to the United States flipped over and killed his mother. He was found clinging to an inner tube and handed over to relatives in South Florida.

Fidel Castro himself led the battle to bring Elian back. Little Elian will return to his homeland, his family, his land and his school, he said. Ten years ago, the raid on his relatives' home in Miami led to Rlian's return to Cuba and his father. Once home, they had front-row seats in Castro's rallies.

Sometimes, Elian took the stage. It's been five years since I returned with my dad, he said, and it was possible because of my family, the Cuban people and Commander Fidel.

The aging president often attended the boy's birthday. Since Castro was sidelined by illness, Elian has disappeared from view.

We went to his hometown of Cardenas in search of news.

A plaque denoucing what many here call "the Miami mafia." It marks the modest house where Elian once lived. His grandmother answers the door.

Now he's a man, she says. A little man. He is studying, he's integrated. He has a normal life, the way he wants it.

She says he gets top grades and still has time for girlfriends. Elian and his father have moved far from prying eyes. In town, a museum touts Cuba's moral victory with a statue of a young, defiant Elian, photos, posters and a giant middle finger flipped at Cuba's enemies to the north.

(on camera): Friends and relatives say Elian Gonzalez has largely put the past behind him, but with monuments like this museum as reminders, it's hard to know if he'll ever be able to lead a normal life and what kind of future he'll play in Cuba.

Shasta Darlington, CNN, Cardenas, Cuba.

(END VIDEOTAPE)

PHILLIPS: On this Earth Day, at least one parent is wondering what on earth was the school thinking when it let a famous felon come talk to the kids. The principal's response? Priceless.

(COMMERCIAL BREAK)

PHILLIPS: Well, a degree from a prestigious Georgetown University sounds like a slam dunk when it comes to landing a job, right? Well, not so much for our "30-Second Pitch" guest today. Miai Tucker is a recent grad of the paralegal studies program. She also has a bachelors in criminology. She's been looking for a job for more than a year, but still no luck.

She joins us now from Los Angeles, and we'll try to help her with that. Maia, why do you think it's so tough? What do you think the biggest challenge has been for you?

MAIA TUCKER, JOB SEEKER: I think at this point, everyone is looking for a job due to the recession. It's very challenging. There are more and more people that do have an education, so it's like you're up in the running for the same type of job and thousands of people are applying to the same job, so -- it's just --

PHILLIPS: What would be your dream job?

TUCKER: You know, I don't have a specific title, but I would like to help people in, you know travel and just get my voice heard and, you know, basically working with people, working with kids.

PHILLIPS: Well, gosh, that's a wide spectrum. We can help you with that. So, let's get down to it. What's your family situation? Are you living off your savings? Do you have a family support? What's the personal side here?

TUCKER: Right now I am getting unemployment so that's -- it's something, but it's not what, you know it's not good enough, basically.

PHILLIPS: Got it.

TUCKER: But it's something.

PHILLIPS: It's just you?

TUCKER: Yes. It's just me.

PHILLIPS: OK. Got it. So, we have to find you a good job and a good man. Double whammy.

TUCKER: Yes! There you go.

(LAUGHTER)

PHILLIPS: See, I knew that would get her excited. Folks, we'll do a 30-second pitch/dating service. Look at this beautiful, smart woman here.

TUCKER: Exactly!

PHILLIPS: All right. Here we go. We're going to start the clock. We've got 30 seconds, and are you all set?

TUCKER: I'm all ready.

PHILLIPS: Okay. Maia Tucker, take it away.

TUCKER: Hello, my name is Maia Tucker. I'm a recent graduate from Georgetown University's paralegal studies program. I am a legal professional looking for an opportunity anywhere in the United States, it doesn't matter.

I am a very hardworking individual. I take my work very seriously. I am a multitasker. I am capable of doing anything I put my mind to. So hire me, I'm ready to work immediately, and I'm ready to go. I'm ready to start right now.

PHILLIPS: Move anywhere? Will you move anywhere?

TUCKER: Yes, definitely! I'm open to anything.

PHILLIPS: OK. There we go. Maia Tucker. Everybody pay attention. Maia, keep us updated and tell us what happens okay?

TUCKER: I definitely will.

PHILLIPS: All right. Her e-mail right there underneath.

TUCKER: Thank you.

PHILLIPS: You bet. My pleasure.

And if you're out of work and want to sell yourself to prospective employers, just like Maia there, let us know. Send us a resume and letter to 30secondpitch@CNN.com. Also, if you want to hire our 30-Second Pitchers, go to our blog, CNN.com/kyra. You'll see Maia's pitch, also her e-mail. All of the information will be there.

We're back in just a moment.

(COMMERCIAL BREAK)

PHILLIPS: OK. President Obama is in New York pushing for the broadest financial overhaul since the 1930s. That push coming in a speech just about 60 minutes from now, and our senior White House correspondent is there. We'll ask him if the president's proposals will prevent another crisis.

And a six-game suspension for Pittsburgh Dteelers quarterback Ben Roethlisberger, but can he get two games back for good behavior? Apparently, maybe. The NFL punished two-time Super Bowl champ in the wake of sexual assault accusations. He wasn't charged, but they decided it was bad enough. It violated the league's personal conduct policy and pretty much all good sense. Many reports say that the Steelers are trying to trade Roethlisberger before tonight's NFL draft.

It's a pretty safe bet that Ben Roethlisberger isn't laughing about his suspension, but of course, Jay Leno is.

(BEGIN VIDEO CLIP)

JAY LENO, HOST, "THE TONIGHT SHOW": The black cloud is still pretty big. Not as big as the black cloud over Ben Roethlisberger, but still.

(LAUGHTER)

LENO: Did you hear about that? Because of his actions there, the Pittsburgh Steelers' quarterback Ben Roethlisberger received a six-game suspension from the NFL. Six games. That's big, yes.

I guess for violating the league's personal conduct policy. Did you know the NFL had a personal conduct policy?

(LAUGHTER)

LENO: Did anybody mention this to the Cincinnati Bengals? Are they aware of this? Good thing he didn't kill anybody, he could have gotten a ten-game suspension.

(LAUGHTER)

(END VIDEO CLIP)

PHILLIPS: Now the very well-behaved Tony Harris steps in -

TONY HARRIS, CNN ANCHOR: Whoo!

PHILLIPS: -- to pick it up from here. He's not causing any trouble.

HARRIS: Oh, yes, I will. Oh, yes, I will. I will try to avoid getting suspended, but short of that, anything goes. Have a great day, Kyra.

PHILLIPS: Thanks, Tony.