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Stocks Soar After Europe Tackles Banking Crisis; Military Service Members Sue Government; GPS Shoes for Alzheimer's Patients; Columbus Zoo Housing Exotic Animals Released from Private Property; Wife of Bernie Madoff Claims She Attempted Suicide; Political Analysts Criticizes GOP Presidential Candidates Approach to Campaigning; U.S. Embassies Purchased and Gave Away President's Memoirs

Aired October 27, 2011 - 15:00   ET

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

BROOKE BALDWIN, CNN ANCHOR: Now this.

Let's continue on, shall we? Top of the hour. I'm Brooke Baldwin.

Stocks soar, Wall Street likes what it's seeing. A major lawsuit against the government over same-sex couples. And tracking dementia patients using their shoes.

Time to play "Reporter Roulette."

And Alison Kosik, let's begin with you at the New York Stock Exchange.

Tell us about the Dow. And in doing so, talk to me about Europe.

ALISON KOSIK, CNN BUSINESS CORRESPONDENT: OK. The Dow has definitely been in rally mode all day, Brooke. Right now it's at 358 -- up 358. The Nasdaq, S&P also have been in rally mode. And for the markets overall, it's shaping up as one of the best months ever.

Now, this all happening because this European debt deal is giving investors a big shot of confidence. This is deal that Wall Street has been waiting for. These debt problems have been years in the making.

OK. So here's what this deal is going to do. It's going to do several things.

First of all, it's going to have banks write off half the value of their Greek bonds that they're holding. So it basically means Greece won't owe them as much money. And what this is going to do, it's going to free up cash so Greece can pay other bills.

It's also going to do two other things. It's going to force banks to set aside more cash, and it boosts the European bailout fund by $1 trillion. And these are essentially, Brooke, insurance measures that are meant to prepare Europe for another shock -- Brooke.

BALDWIN: We've talked so much about Greece, but I think we need to talk a little bit about Italy, because, economically speaking, it's a bit of a big fish, seven times bigger than Greece, and they have their problems as well, economic problems and political problems. What is going on in Italy?

KOSIK: And you're right about that.

Italy is swimming in its own pool of debt. It has $2.5 trillion in outstanding debt. It's one reason why Europe is boosting the bailout fund to go ahead and help other countries if they need it.

Now, Italy is trying to pass austerity measures, and it's getting down and dirty. And I want to show you this. Some fights broke out yesterday.

BALDWIN: I read about that.

KOSIK: Two Italian deputies -- yes, but the picture is actually hysterical. You have to see the picture. I hope we pull it up.

BALDWIN: We have it.

KOSIK: These deputies came to blows, literally. They were punching each other in parliament. It was like a hockey game, but they were wearing suits and ties. You know, you can't make this stuff up.

BALDWIN: Suits and ties. Remind us -- this has to do with the economy, it had to do with a plan. Remind us why we it is there we see them like this.

KOSIK: Well, they're fighting over passing these austerity measures. This means that the Italian citizens may have to face higher taxes, maybe even raising the retirement age.

This is stuff that is politically tough to swallow. These are those hot-potato issues that politicians don't want to get anywhere near, so they were duking it out, I guess. I don't think they're going to solve anything that way.

BALDWIN: I don't think so. I don't think so.

Alison Kosik, thanks for sharing the picture there and what's happening in Italy.

KOSIK: Sure.

BALDWIN: Thank you.

Also, next in "Reporter Roulette," a little more than a month after the military's "Don't Ask, Don't Tell" policy ended, eight same-sex service members, six who are active, are suing the government for their partners' benefits.

Let's go to the Pentagon and straight to Barbara Starr.

And Barbara -- specifically, why are they suing?

BARBARA STARR, CNN PENTAGON CORRESPONDENT: Well, look, Brooke, this is a critical challenge now to the Defense of Marriage Act, that longstanding federal law that states a marriage is between a man and a woman. But, certainly, as we know, especially in the U.S. military, the pressure is on to grant benefits to same-sex partners.

What are we talking about? We're talking about everything from housing benefits, medical benefits, access to recreational clubs, that sort of thing.

The U.S. military is under the rule of the Defense of Marriage Act, but there are couples now married in states, same-sex couples, where these types of unions are legally recognized. So they have filed a lawsuit against the attorney general, against the defense secretary, against the Veterans Affairs secretary, challenging the constitutionality of that law.

Now that "Don't Ask, Don't Tell" is gone, there is a real push to get equal benefits for same-sex partners, as there is for the more traditional husband and wife unions. We'll see where the lawsuit goes.

BALDWIN: Yes. Barbara Starr, thank you very much there at the Pentagon.

Next in "Reporter Roulette," Elizabeth Cohen here to talk about a new pair of sneakers that may help keep elderly patients with Alzheimer's from wandering off.

Really, sneakers?

ELIZABETH COHEN, CNN SR. MEDICAL CORRESPONDENT: Who would have thought, right? Isn't that interesting?

BALDWIN: How does this work?

COHEN: The way it works is that a GPS goes into those sneakers. And these will start going on sale next week, so that if your grandmother with Alzheimer's wanders away, you can track her.

And again, these go on sale next week. And it generates a map, kind of like you see a Google map where you get directions.

BALDWIN: Sure.

COHEN: It generates --it can tell you where she is so that you can follow her.

BALDWIN: Is this technology new?

COHEN: You know what's interesting. Shoes aren't new and GPS isn't new, but putting a little GPS in a shoe is a new idea. But there are other companies that are doing sort of similar things. For example, putting a GPS in a bracelet that is locked so they can't take it off.

That's another -- there's the map that you get that tells you where your relative has gone.

BALDWIN: You can track grandma and grandpa. COHEN: So, right there, that has a GPS in it. There's also little modules that you can put if -- someone often carries a bag. You put in it their bag and you can track them that way. So there's a couple of different ways of doing this.

BALDWIN: I guess you just have to make sure they're not taking them off.

COHEN: Right. Well, that's why the shoes -- I mean, chances are they're not going to take their shoes off. So, yes, that's true.

BALDWIN: GPS in sneakers.

COHEN: GPS in sneakers. You can find anyone. If you're worried your spouse is cheating, strap them on.

BALDWIN: Ooh. Elizabeth, thank you.

COHEN: Not as useful, I guess.

BALDWIN: No, not at all.

Thank you very much, Elizabeth Cohen, for that.

And that's your "Reporter Roulette" here.

Still ahead, CNN takes you to the exact spot where Moammar Gadhafi fell under fire and uttered his last words. But what Dan Rivers found at this bloodbath, it is stunning evidence of torture and executions. That's ahead.

Plus, should the parents who name their kid Adolf Hitler be allowed to keep custody? We're "On the Case."

And this --

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: I'm sitting here going, "I can't believe this happened."

(END VIDEO CLIP)

BALDWIN: -- a man unleashed dozens of exotic animals before killing himself. His wife wanted to take six of them, six of the surviving exotic animals, back home with her today. Now the state is stepping in and Jack Hanna has a stern message for her. He will join me live.

And a TSA agent leaves a note for a female passenger after he opens her bag and sees a sex toy. He just learned his fate.

Back in two minutes.

(COMMERCIAL BREAK)

BALDWIN: NATO in, Gadhafi out. And now NATO is getting out of Libya. Let me take you back to last March. St. Patrick's Day, in fact. That is the U.N. Security Council taking that fateful vote, allowing the North Atlantic Alliance to protect the Libyan people from their deranged ruler.

You're going to see U.S. delegate Susan Rice -- here she is -- raising her hand, decked out in St. Patty's Day green.

So, fast forward. Late this morning, the council agrees NATO's job, over. They're done.

Here is Ambassador Rice.

(BEGIN VIDEO CLIP)

SUSAN RICE, U.S. DELEGATE TO U.N.: This has been quite an extraordinary period of activity for the Security Council, as well as for the United States, NATO, and Arab partners who participated in the enforcement of Resolution 1973. And today, many months later, we have the prospect for a free and inclusive Libya.

(END VIDEO CLIP)

BALDWIN: So far, so good. Seven months done, no quagmire. But post- Gadhafi, Libya is still sorting things out. A lot of disagreement, a lot of ill will, lots of bad blood from that brief but brutal war.

A quick warning to all of you watching right now. We're taking a look now at the war's ugly conclusion, the battle of Sirte and its sobering aftermath.

Here now, CNN's Dan Rivers.

(BEGIN VIDEOTAPE)

DAN RIVERS, CNN SR. INTERNATIONAL CORRESPONDENT (voice-over): As the dust settles on the Libyan conflict, there are increasing questions about the atrocities that appear to have been perpetrated by militia loyal to the transitional government. These are just some of the bodies found around Moammar Gadhafi's convoy. Some were killed in a battle as the former dictator tried to flee, but some appear to have been executed as prisoners, contrary to the Geneva Conventions.

(on camera): Plenty of evidence around here of other bodies here, some of which Human Rights Watch claim were also executed. They say there are 95 bodies in this area, and at least 10 of them have been shot at point-blank range.

(voice-over): We witnessed this during the battle for Sirte, piles of bodies with their hands bound behind their backs, shot through the head, with no clear sense of who they were or who shot them. The bodies lay here for days without any revolutionary forces attempting to bury them.

But now Human Right Watch investigator Peter Bouckaert says he's found clear evidence some of the victims were Gadhafi officials, and he is concerned they may have been executed by revolutionary forces. This is the aftermath of a massacre at the Mahari Hotel in Sirte, 53 bodies with evidence on the walls that this hotel was occupied by revolutionary brigades before the people were killed.

PETER BOUCKAERT, HUMAN RIGHTS WATCH: We're very disappointed that the NTC still hasn't sent anybody down to Sirte to investigate, and their failure to investigate risks invoking the jurisdiction of the International Criminal Court. This is a war crime.

RIVERS: The transitional government has promised to bring those responsible to justice.

AHMED BANI, NTC MILITARY SPOKESMAN (through translator): I assure you that we will not turn a blind eye or forgive any crime that might have been committed during this conflict.

RIVERS: But the true scale of the killing in Sirte is only now becoming clear. Some 300 bodies have been found so far, with no one from the transitional government attempting to gather evidence before the bodies are removed.

Dan Rivers, CNN, Tripoli.

(END VIDEOTAPE)

BALDWIN: Coming up next, he is convicted of killing a mother and two daughters during a brutal home invasion. And as a jury is deciding his fate, his father takes the stand and testifies about his son's dark past. And what he reveals suggests this guy is both a "miracle" and "Satan" all at once -- his words.

Plus, they named their kid "Adolf Hitler." So should the parents lose custody of their son for a name?

Sunny Hostin is "On the Case." We're going to talk about that, next.

(COMMERCIAL BREAK)

BALDWIN: First, the father, then the mother. The parents of this man convicted of killing a Connecticut mother and her two young daughters in that horrific home invasion took to the witness stand today, and their testimony could mean the difference between life and death for their son.

I want to bring in Sunny Hostin. Sunny Hostin, "On the Case."

And Sunny, listening to some of the testimony, it's been pretty heavy. Tell me about it.

SUNNY HOSTIN, LEGAL CONTRIBUTOR, "IN SESSION," TRUTV: You know, it really has been.

He's painted a picture of a son who they adopted when he was 2 weeks old, and he called him a miracle, a miracle baby. But that miracle really turned into quite a devastating picture for this family. He also describes the fact that they took in foster children into their home. And one of those foster children sexually abused Joshua Komisarjevsky. And Joshua Komisarjevsky, in turn, abused his sister also.

We heard some testimony about the fact that he was involved in satanic rituals, fell in with a bad crowd, and was diagnosed as having really severe psychological issues. But rather than have him treated psychologically, with psychological drugs and testing, this family turned to religion.

We know now that the Komisarjevskys are deeply religious, devout Christians, and they instead placed him in a residential religious program. And so, certainly, we're getting a picture of a young man who was very, very troubled and apparently didn't receive, Brooke, the help that he desperately needed.

BALDWIN: Thus, this would be the defense then painting Komisarjevsky in this victim light, right? Like, victim of past life circumstances. And then, really, it was his accomplish, it was Steven Hayes who was really the bad guy.

Is that right?

HOSTIN: I think that's right. They're certainly trying to save his life. And certainly his mother and father, Ben and Jude Komisarjevsky, are testifying in an attempt to do that.

When there's a death penalty case, Brooke -- and we're in the penalty phase of this trial -- there are mitigating factors that the defense tries to bring forth to the jury. And those factors, they hope, will sway the jury away from death penalty recommendation and more towards a life in prison without the possible of parole.

Certainly mitigating factors that are considered are one's mental state, one's life circumstances. And that's why I think we're seeing so much of this playing out at trial.

BALDWIN: As you pointed out, it is life or death, really, for Komisarjevsky.

Case number two, a couple fighting to get their kids back, they claim their children were taken away because of their names. This is the couple.

Let's remind everyone they named their son, "Adolf Hitler Campbell" and their daughter "JoyceLynn Aryan Nation Campbell."

So, whatever you think about the names, Sunny, can a court really take kids away because of a name? Or there has to be something more here.

HOSTIN: Right. There always is something more, right?

The standard is, what is in the best interest of the children? And I would say that it's not in a child's best interest to be named "Adolf Hitler" or "Aryan Nation" or things of that sort. But the court found initially that there were some signs of abuse here. There was domestic violence in the home, as well as some sort of physical abuse. The parents apparently had some psychological problems, were unemployed.

And so, looking at the totality of the circumstances, the court did take these three children away from this family. And it's been about 33 months. It's been quite some time.

So, the family, of course, has all along said this is just about the odd names that we've given our children. It's a little bit more than that -- Brooke.

BALDWIN: Would it be possible down the road that these parents could ever get these kids back?

HOSTIN: Well, you know, courts certainly like for families to remain together if it's in the best interest of the children. At this point, the family is saying and the parents are saying that no abuse was found. That's still being called into question.

But if the court does make that determination, it's quite possible that this family could be reunited. They claim that the children want to come back home. So, if the court finds it's in the best interest of these children, then one day we may see some reunification.

BALDWIN: Kids named "Aryan Nation" and "Adolf Hitler." Have you ever?

HOSTIN: Who does that?

BALDWIN: Who does that?

HOSTIN: Who does that? But they did it.

BALDWIN: Sunny Hostin, they did. Thank you. Thank you today, "On the Case."

HOSTIN: Thanks.

BALDWIN: Trending today, the man convicted of pulling off what's been called the biggest Ponzi scheme in U.S. history. Now, as Bernie Madoff waits to die in prison, he and his wife are speaking out. She's talking suicide, and he's talking about why he doesn't feel remorse when it comes to his victims.

That's next.

Plus, if you're running for president, you obviously have got to have a plan to improve the country, right? Not so these days. You've got to read Gloria Borger's column. She's calling the GOP race an audition. Find out who she says is directing these Republicans.

Gloria is standing by. We're going to talk about this column with her after this.

(COMMERCIAL BREAK)

BALDWIN: Take a look at what's trending this hour.

That is Bernie and Ruth Madoff. Of course, you know he's the man who pretended to be a big-time Wall Street investment broker, but was actually running a $50 billion Ponzi scheme, the country's all-time biggest. A lot of people lost a lot of money.

Ruth is the woman who stood by her man. Ruth now says she and Bernie tried to commit suicide after his investment charade became public knowledge. She talked to CBS's "60 Minutes," saying, and I'm quoting, the haters just got to be too much to bear.

(BEGIN VIDEO CLIP)

RUTH MADOFF, WIFE OF BERNIE MADOFF: I don't know whose idea it was, but we decided to kill ourselves because it was so horrendous what was happening. We had terrible phone calls, hate mail just beyond anything. And I said I just can't go on anymore.

(END VIDEO CLIP)

BALDWIN: Ruth Madoff said that she and her husband took handfuls of sleeping pills Ambien but woke up the next morning anyway. By the way, you can of course watch that whole interview on CBS this coming Sunday.

Now, if Bernie Madoff sees it, this will be from the North Carolina prison where he is spending the next 150 years. And if you are feeling sympathy for this couple, here's what ABC's Barbara Walters says Bernie Madoff told her in a recent interview, quote "I understand why clients hate me." He said "The gravy train is over. I can live with that." He goes on "The average person thinks I robbed widows and orphans." He added "I made wealthy people wealthier." Bernie Madoff to Barbara Walters.

So here's a riddle for you. When running for the president of the United States, what come first, the plan to improve the country or catch a campaign? Think about it. CNN's chief political analyst Gloria Borger. She penned this column. Here it is. It's called "The Perry Approach - Campaign First, have Ideas Later."

Let me read the first graph. You say, quote, "Call me crazy, but I recall when presidential candidates ran for the high office because they had things to say. The notion went like this - "I have ideas that I think will be great for the country. I have thought about them, vetted them with experts, spoken about them throughout my career. I have refined them many, many times, even changed some, and now I think it's time for the presidency armed with those ideas to present to the nation." So that's your point. That's your going into this article. But there's a "but."

GLORIA BORGER, CNN CHIEF POLITICAL ANALYST: What a thought. The "but" is, whatever happened? Whatever happened to that? It sort of struck me when I was watching a recent presidential debate in which Rick Perry turned to Mitt Romney and said, you know, you've had years to come one all of your ideas. I just got into this race six weeks ago so give me some time.

And I thought to myself, you know what, it really should be the other way around that you're a presidential candidate because you have ideas that you think will be good for the country. So to me, it is ideas first, candidacy second. And what we're seeing this time for example, someone like Herman Cain who has one idea, nine-nine-nine. He is also out on a book tour when he is running. You had Rick Perry getting in late with some unformed ideas, came up with a flat tax just recently. So it seem to be oddly per verse to me the way it's working this time around.

BALDWIN: So you cite different candidates, you mention that had moment in the debate with Romney and Perry. But you also say, you also talk about how they're auditioning. Who is doing the auditioning?

BORGER: Well, the Tea Party is doing the auditioning. The Tea Party has an idea of the sort of perfect candidate. And they're sort of the theatrical directors, if you will. And then the candidates are coming in and auditioning.

And so Michele Bachmann at first, well, she played pretty well in Philly but didn't get to Broadway, right? And then Rick Perry kind of looked the part but he kind of flubbed his lines. And Cain is of course very entertaining.

So, however, there is no perfect candidate for them because, guess what, there is no perfect candidate. But what we're watching is people being vetted before our very eyes. The only one who is a known quantity of course is Mitt Romney who came up with the 59-point proposal that wasn't full of gimmicks.

BALDWIN: You're saying it's serious, boring, un-gimmicky.

BORGER: And we'll see what happens. He's a known quantity so they're not ready to put him in the lead role yet.

BALDWIN: As always, Gloria, thank you. You can read her column. Just to go CNN.com/GloriaBorger. Thank you so much.

Coming up next, developing this hour, the widow of the man who unleashed dozens of wild animals and then killed himself wants to take some of these exotic pets back. She wants the six that survived back home with her on that farm. She was supposed to take them home but the state intervened at the final, final minutes here. Coming up, we'll talk live with the coo of the Columbus zoo where these animal are being held right now.

But first, are you tired of traffic? The guy who invented roller blades is taking his latest invention to the skies, and it could be the future of commuting. Check this out.

(BEGIN VIDEO CLIP)

BALDWIN: Scott Olson is at it again. The inventor of roller blades has a new way to move people around. This is sky ride, a human powered elevated monorail.

SCOTT OLSON, INVENTOR: My ideas have all been pretty much moving with the roller blades and the roll bike, the sky ride.

BALDWIN: Sky ride capsules hang from a 12-foot track and they can travel up to 30 miles an hour. No gas required. It gets its power from you. There are two versions, one where you row and one you petal.

OLSON: The important part has been the actual drive system. What allows people to propel themselves along that track smoothly, quickly, efficiently, safely. So we can adapt to it different people's needs.

BALDWIN: For Olson and his team, they expect sky rides in the ski resorts in the near future and eventually they see it as a replacement for cars and buses in cities.

Brooke Baldwin, CNN, Atlanta.

(END VIDEO CLIP)

(COMMERCIAL BREAK)

BALDWIN: I want to take you back to the story out of Columbus, Ohio, the Columbus Zoo just about an hour or so ago. We got word that Marian Thompson will not be claiming those six exotic animals freed by her husband just last week outside of Zanesville. So the state ordered the animals to be quarantined just as Marian Thompson was expected to pick them up and take them back to her farm in Zanesville.

We're talking specifically here, six animals, a grizzly, three leopards and two primates. These six animals survived that harrowing night last Tuesday and Wednesday when law enforcement officers shot and killed dozens of animals freed by her husband Terry Thompson just before he took his own life, a tragic story all the way around here.

Joining me now on the phone, Thomas Stalf, the Columbus Zoo's COO. And Tom, it is interesting timing. The state steps in, decides to quarantine these six animals just as this woman Marian Thompson is about to pick them up. Can you tell me how the chronology of this unfolded?

TOM STALF, COO, COLUMBUS ZOO: We received fax letter around 5:15 from Marian Thompson's attorney stating that they were coming, which would be today, and picking the animals up. And I'm assuming that the department of agriculture, ever since the incident happened at Mr. Thompson's facility, were investigating any type of issues that we might be experiencing with these animals.

And so just about, I would say, a couple hours ago, we received a letter from the department of agriculture placing these animals under quarantine through the state. And this now will not allow Marian Thompson to retrieve the animals until this quarantine and investigation is over.

BALDWIN: So she knew about that ahead of time. She didn't show up to the zoo an hour ago expecting these six animals to go home, correct?

STALF: No, she did not realize. Her attorney was contacted but she apparently did not get that correspondence. So she arrived on site with the trailer and some folks to assist her in retrieving the animals. So her attorney then notified her, showed her the order. And then she requested if she could at least visit or see the animals, which the Columbus Zoo allowed that to happen today.

BALDWIN: What did she say when she saw the animals? What did she say to your people at the zoo?

STALF: She was upset at the order. But she also realizes that the Columbus Zoo, our whole role in this tragic situation was to ensure that the animals that are here are getting their best care. Our number one goal is animal care and welfare and public safety. So when this situation happened, our first goal and role was to bring the animals where it is a safe place and our professional staff could care for them.

BALDWIN: But Tom, there is no law at the moment on the books in Ohio that says someone cannot have exotic animals on their own property. Technically, these are her animals. And let me just, I know the department of agriculture, I'm looking at my e-mail from them. They said she said she is entitled to a hearing within 30 day to get her animals back. The quarantine is indefinite. Is this a way, I don't know if it is the state to buy a little time here?

That would be a question for to you ask the department of agriculture. I guarantee you that as they're here at the zoo, they're getting great care and it was, you know, talked about this morning with our staff that Marian was coming and she was removing the animals from our facility.

Obviously that concerns us and our staff because we want to make sure that the animals were getting proper care. That it is also a safe place that they're being held. But at all times, we realized that Marian was coming and we were not stopping that at all until we received the letter from the department of agriculture. And so then we informed Marian of this ruling.

BALDWIN: Well, perhaps we will follow one the department of agriculture and ask some of those questions. Tom Stalf, COO of the Columbus Zoo, Tom, thank you so much for jumping on the phone.

I do want to get this in. We've just gotten some new sound from President Obama. He's meeting with the Czech prime minister at the White House today. And as we see the Dow up just about 400 points here, there we go, 373. Just about 17 minutes away from the closing bell. The president commented on the new deal brokered late last night from Europe overnight that's giving the markets quite the boost today.

(BEGIN VIDEO CLIP)

BARACK OBAMA, (D) PRESIDENT OF THE UNITED STATES: As markets all around the world, it will help lay it the predicate for long economic growth not only in Europe but around the world. The key now is to make sure it is implemented fully and decisively. And I have great confidence in the European leadership to make that happen.

With respect to the relationship between the United States and the Czech Republic, it continues to be strong. The Czech Republic is one of our greatest allies and has provided the kind of support and cooperation on both security and non-security issues that is the mark of a true ally. As a fellow NATO member we have consistently reaffirmed our Article 5 commitment that says that an attack on any one of us is an attack on all of us.

(END VIDEO CLIP)

BALDWIN: President Obama at the White House just a short time ago. And with that, we got to go to break. We'll be right back.

(COMMERCIAL BREAK)

POPPY HARLOW, CNNMONEY.COM CORRESPONDENT: Time for the help desk, where we get answers to your financial questions. And joining me, Lynnette Khalfani Cox, the founder of the financial finance blog AsktheMoneyCoach.com, And David Novak, a certified financial planner and an adjunct professor at NYU. Guys, thanks for being here. First question to you, this is a pretty straightforward one. It comes from Agnes in Sacramento. What's the best debit card for teenagers?

DAVID NOVAK, FINANCIAL PLANNER: What I would look to do for your teenager is set up a joint bank account, checking or savings, or a custodial bank account with the child, maybe keep $500 or $1,000 in them. That way the child can't overdraw the account more than a few hundred dollars. And it shouldn't have that much impact on financial aid. This way they can build a credit history and start using a debit card for ongoing expenses.

HARLOW: And a debit card that's the best one? Or they should just look at that criteria?

NOVAK: I would look at a debit card as opposed to a credit card where you're incurring debt, a debit card is just pulling the money out of the account that you have.

HARLOW: And Lynnette, your question come from Craig in California. Craig writes that his father opened a 529 for Craig's son and gave him the power of attorney over it. But he's wondering if that account will be counted when his son applies for financial aid?

LYNNETTE KHALFANI COX, ASKTHEMONEYCOACH.COM: OK, 529 assets are counted when someone fills out a FAFSA application for college aid. The question, though, is whose name is it in, and with a 529 plan, the money rests with the donor, so the grandparent who did it or even if the father takes control. That's actually advantageous because your financial aid eligibility will only be reduced by 5.6 percent. Any aspects that are specifically in the kids' names, that will reduce your eligibility by about 20 percent. So it is actually still advantageous for the family.

HARLOW: Very good to know. And folks, if you have a question you want answered, send us an e-mail any time to CNNHelpDesk@CNN.com.

(COMMERCIAL BREAK)

BALDWIN: In a mere ten minutes from now, I know you're waiting for the man, Wolf Blitzer, to come up on "THE SITUATION ROOM" with a lot of news happening in the next two hours. And Wolf, I remember you were talking about Rick Stengel. He will be one of the guests talking about the "TIME" magazine cover and Hillary Clinton.

WOLF BLITZER, CNN HOST, "THE SITUATION ROOM": A lot of good pictures. One of the still photographers put a nice portfolio together. We'll show one of those on Hillary Clinton on her recent trip overseas. Rick Stengel, the managing editor of "TIME" magazine will be joining us.

Also, I want you to get ready because our own Brian Todd, he's got a big story coming up in "THE SITUATION ROOM" right now. A lot of people know there are Iranian diplomats serving at the United Nations. Did you know, Brooke, there were Iranians working here in Washington, D.C. as well out of the Pakistani embassy?

BALDWIN: Did not.

BLITZER: You and all of viewers are going to get a big report from Brian Todd on what's going on. Peter King, he chairman of the House Homeland Security committee and others making some very serious allegations about these Iranians who serve here in Washington. We've gone back and are checking all the information. That's coming up here in "THE SITUATION ROOM" and a lot more news, including a big, big day on Wall Street.

BALDWIN: Huge.

BLITZER: We'll have the closing numbers. Our own Erin Burnett is standing by live. She's be joining us. We got a lot of good stuff coming up as we always do.

BALDWIN: Look at that, 334 points. Big, big, big day, big rally on Wall Street. Wolf, thank you. See you in ten minutes.

Meantime, avert your eyes. Maybe not. Keep watching. Police in Ohio recently stopped a speeding car to find a female car had nary a stitch of clothing. Good thing we're blurring this. Police say she was wearing a see-through top and a thong and not a lot else. If you guessed alcohol is involved, ding, ding, ding, you are correct. The 28 year old woman was cited for DUI and other violations. This chase hit speeds of up to 128 miles per hour before this woman sans clothing finally gave up.

And $70,000, that is what your taxpayer dollars spent on books by President Obama for U.S. embassies. Did you realize this? Find out how the administration is explaining this one.

Plus, Wolf was talking Hillary Clinton. We're going to talk Chelsea Clinton, the daughter of one of America's most famous political couples. So, is she thinking about a run for Congress? Joe Johns has that in "Political Pop," next.

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BALDWIN: Let's look at tomorrow's news today. Let's fast forward, beginning with fireworks over the Statue of Liberty tomorrow night. It will be the 125th anniversary of when the statue was dedicated, and in honor of the day, 125 immigrants will become new U.S. citizens.

Also in Aruba, an American man held in an Aruban jail while police investigate the disappearance of his traveling companion, he will be in court. A court if Gary Giordano will remain in jail or be released. American Robyn Gardener of Maryland who was in Aruba with Giordano vanished August 2nd.

Also, this.

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BALDWIN: Little appetite for destruction, anyone? An announcement from hard rock giants Guns n Roses. The band kicking off its reunion tour in Orlando. But this is not a complete reunion. You're going to see Axl Rose, but you're not going to see the guitarist, Slash. So we kind of decided we're going to call this Guns N Rose.

OK $70,000 plunked down by U.S. embassies to buy President Obama's own books. We have Joe Johns here with the "Political Pop." Joe, what's the deal? Why all the reading material?

JOE JOHNS, CNN SENIOR CORRESPONDENT: First things first. I don't know that employees of U.S. embassies are so desperate for reading material that they've just got to have a copy of president Obama's book. My experience is traveling overseas to U.S. installations or whatever is depending on the kind of place you're talking about and the kind of internet access they have. First thing they want to see is a recent newspaper or magazine, just a touch of home just hold it in your hands.

But the deal here is that the embassies are actually buying these books. We're talking mostly about copies of the book "Dreams from my Father," because apparently, they want to give them to people overseas as gifts. Depending on the country you're talking about, there's some places there's a lot of curiosity about this president, a lot of fascination. And so they hand them out as gifts. It's been going on apparently since 2009.

BALDWIN: So which embassies in particular bought the books?

JOHNS: The most notable embassy, not industry, is probably in Cairo. Actually, it's been something like $40,000 on this book in 2009. Other embassies, $4,000, $5,000, a few of them. The Korean embassy was one that I found to be of note. Total, about $70,000 according to the "Washington Times" newspaper here. BALDWIN: So has the administration been aware? What do they say?

JOHNS: Yes, Jay Carney was asked about this, and there's been a lot of digging around now. A statement from him says "It's the embassy's decision themselves. They're the ones who decide what American books to buy and they make the decisions based on the interests in the country where they are. They say these are not decisions that are made in Washington, not decisions directed by Washington."

So, their point of view is it's you know, what the embassies think is a good idea to give away as a gift to one of the people they have to deal with.

BALDWIN: Before I move on to Chelsea Clinton, I am just curious. Is this just President Obama specific or are these embassies reading previous presidential books?

JOHNS: Well, that's the thing. A number of other officials have written books that have been handed out as gifts as sort of a list. And it's happened before. However, probably the big controversy is about the fact that president Obama is in office right now. Many of the other people whose books given away or whatever by embassies overseas were already out of office. And the question is, you know, whether he benefits from that by the government buying the president's book.

BALDWIN: OK, Chelsea Clinton -- rumors, rumors that she's running for office. Dispel these rumors, will you.

JOHNS: People just love this, and love to hate it, too. I was calling around on Capitol Hill today and talked to one democratic official on the house side who said this is complete catnip for the media, if you will.

But they're all shooting it down, quite frankly. The question is whether Chelsea Clinton, the daughter of Bill Clinton and Hillary Clinton, will run for Congress, specifically the office of Congresswoman Nita Lowey in New York, a longtime Democratic member of Congress from New York, very well-known and respected in Democratic circles.

And the story has been trickling out there in dribs and drabs for some time now and I think a blog picked it up and so now, everybody continues to speculate. But we're told no, Chelsea Clinton is not seeking the congressional seat of Nita Lowey hands down, and that's the end of it, they tell us, though. But I think people are going to continue to try to figure out --

BALDWIN: What is this, wishful thinking?

JOHNS: Yes, I think so. It's just sort of a no brainer. She's 31 years old. She's done a lot of stuff. What's next? Is she going to run for Congress?

BALDWIN: Joe John, who knows? We shall see. Thank you so much, "Political Pop." That's it for me. I'm Brooke Baldwin here in Atlanta. Now to Wolf Blitzer. "THE SITUATION ROOM" starts right now.

Hey, Wolf.