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Syracuse University Coach Accused; Penn State Child Rape Scandal; Coaches Killed In Plane Crash; Occupy Wall Street After The Storm; Accused Of Trying To Assassinate President Obama; Sweat Lodge Sentencing; Approval Of Breast Cancer Drug Revoked; Rapper Heavy D Laid To Rest ; Video Game Sets Sales Record; Fiance Finishes Marine's Mission; Regis Philbin Last Day; Five Days Till Debt Deadline; Natalie Wood Case Re-opened; Fallen Marine's Fiance Enlists

Aired November 18, 2011 - 13:00   ET

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

SUZANNE MALVEAUX, CNN ANCHOR: Good for her. Copeland's next performance at the American Ballet Theatre will be this summer in Firin (ph), you got to catch it. She's also designing a dancewear line for curvy ballerinas.

CNN NEWSROOM continues right now with T.J. Holmes in for Randi Kaye.

T.J. HOLMES, CNN ANCHOR: Did you see here her say (INAUDIBLE.)

MALVEAUX: Hey, T.J.

HOLMES: You going to come to me with curvy ballerinas? That's how you're going to hand over the show?

MALVEAUX: You got to catch that one, you got to deal with it. How you going to turn that?

HOLMES: Always appreciate that, Suzanne. Thank you, you have a good weekend.

And we're at the top of the hour here and hello to you all. I am the aforementioned T.J. Holmes in today for Randi Kaye.

And let's start with allegations at a university but we are talking about a different university, but we're talking about a different university this time. We are talking about Syracuse. Listen to this now. Associate men's basketball coach Bernie Fine is on administrative leave while police investigate claims of child molestation that now date back to the 1980s. Two step brothers say fine touched them inappropriately when they were ball boys for Syracuse. But a 2005, investigation by the school found no corroboration, no evidence. The brothers are speaking out now, they spoke to ESPN last night.

(BEGIN VIDEO CLIP)

BOBBY DAVIS: Probably when I was in, you know, sixth grade, 11, 10 years old, and he started trying to touch me and things like that. You know, and honestly, I don't even remember if I thought that was what was supposed to happen. You know, I know I cringed up and didn't want it to happen and I was very, you know, like what's going on? You know, I was -- it was just -- I just remember being disgusted in a sense, you know, but that's when everything -- you know, when he started to touch me, you know, my private.

(END VIDEO CLIP)

HOLMES: Well, Fine denies he did anything wrong and the school's head basketball coach said Fine has his, quote, "full support."

Let's turn back to those allegations at Penn State now. We are learning more about the alleged abuse by former Penn State assistant coach Jerry Sandusky. We're learning that some of this abuse may have started decades ago. Several attorneys telling CNN they are representing more potential victims, some of them claiming the abuse dated back to the 1970s. Sandusky has denied all charges against him. Just ahead, we're go in-depth on the Penn State and how the Penn State cases are opening what some are calling floodgates on alleged scandals at other colleges and universities.

We turn to news out of another university campus. This is just tragic. This is out of Oklahoma State. They are saying they have lost two "incredible life forces." That is how they are describing the loss of the Oklahoma State women's basketball coach, Kurt Budke, and assistant coach Miranda Serna. Both of them died yesterday in a plane crash in Arkansas. They had been on a recruiting trip there. Oklahoma state president came out a little earlier and talked to reporters.

(BEGIN VIDEO CLIP)

BURNS HARGIS, PRESIDENT, OKLAHOMA STATE UNIVERSITY: It's our worst nightmare. The entire OSU family is very close, very close indeed, and to lose anyone, and especially these two individuals who were incredible life forces in our family, is worse beyond words.

(END VIDEO CLIP)

HOLMES: Now this comes after Oklahoma State just marked the 10- year anniversary of another tragic plane crash, that was back in 2001 when ten people died in that plane crash. They went down in a Colorado snowstorm. All ten of those people who died were affiliated with the Oklahoma State men's basketball program.

Let's turn now to the Occupy Wall Street movement. Well, month number three now. Starting with a bit of a lull, some might tell you, a day after raucous demonstrations, marches and clashes, also run-ins, that was on the two-month anniversary. Things pretty quiet today, no arrests overnight in lower Manhattan. Manhattan with plenty during the day, 245 -- the official count of arrests yesterday. Dozens more in cities across the country. These so-called occupiers say they represent the bottom 99 percent. A new poll shows it's more than 29. That's the percentage of Americans who say the movement shares their values. Interestingly enough, the exact same percentage say the same about the Tea Party. The man accused of firing shots at the White House is now charged with trying to assassinate President Obama. The suspect has been identified as 21-year-old Oscar Ramiro Ortega Hernandez, he's from Idaho. Federal officials says he once told friends that the president was the antichrist and that he needed to kill him. He is accused of firing shots at the White House last week and was arrested Wednesday in Pennsylvania.

Judgment day today for the man convicted in the death of three people following a sweat lodge ceremony in Arizona. Self-help expert James Arthur Ray faces up to nine years in prison at today's sentencing. A jury found him guilty of negligent homicide in June. The three victims died after taking part in a sweat lodge ceremony that was organized and led by Ray two years ago.

The Food and Drug Administration says it is revoking the approval of the drug Avastin as a breast cancer treatment. FDA commissioner saying the drug is not safe and effective for that type of cancer. The administrator also says the drug carries a risk of severe bleeding and heart failure. The drug will remain on the market as an approved treatment for certain types of colon, lung, kidney and brain cancer.

And hip-hop star, Heavy D being laid to rest today in New York. Family members and celebrities attended a private funeral in Mt. Vernon to pay tribute to the rapper who's known for hits like "The Overweight Lovers in the House" and also "Now That We Found Love." Heavy D died last in Los Angeles after collapsing outside his home. Heavy D was just 44 years old.

And a blockbuster in the video game world "Call of Duty, Modern Warfare 3," another record breaker with sales of more than $775 million in the five days following its release on November 8th. This is the third year in a row, but the latest installment of the game has set a five-day sales record and passing movies, books and other games.

Well, first it was Penn State, then the Citadel, now we're hearing about Syracuse. Well, our next guest says it's just the beginning. Also, new information about the allegations against former Penn State coach -- assistant coach Jerry Sandusky.

Also coming up, her fiance died in Afghanistan, now she is honoring his name by completing his mission. Madeline Cates, you need to hear her story. She will join us live coming up next.

But first, Regis Philbin wrapped it up today. Twenty-eight years on "Live Today," he had a look back at his time in daytime television today on this final show. In the audience today, a lot of people, long-time friends, former co-host Kathie Lee Gifford was there as well. Before the show, the Reege vowed that he would not cry, kept his word even during his final thank you. And that makes him today's "Rock Star."

(BEGIN VIDEO CLIP)

REGIS PHILBIN, HOST, "LIVE TODAY": This is the last chance I had on this -- to make it here in New York. And I came back a little bit late in my life to make it all work. I guess it was fate that it would happen this way and it did. Twenty-eight and a half years, and we've had a wonderful show and a great time.

(END VIDEO CLIP)

HOLMES: Regis says he has no plans and no place to go. Kelly Ripa will continue on with the show and she will be there on Monday sitting next to Jerry Seinfeld who will be the temporary fill-in.

(COMMERCIAL BREAK)

HOLMES: Well, for nearly two weeks now, we've been reporting about the horrific allegations of child rape by a former assistant football coach at Penn State. We're learning now that the alleged abuse by Jerry Sandusky may have started decades ago.

Also today, a new report of alleged abuse involving another big college sports program. A long-time associate basketball coach at Syracuse University is now on administrative leave. Bernie fine is accused of using ball boys for the team -- abusing ball boys for the team in the 1980s and 1990s.

Rich Lewis is a columnist at "The Sentinel" in Carlisle, Pennsylvania, and he writes that the Penn State scandal has, quote, "opened the floodgates on alleged abuse cases at colleges and universities."

Rich joins us now. Rich, thank you. We read your opinion piece, but I was just talking to you in the break, you wrote it about the Penn State scandal possibly opening the floodgates. But then as soon as you wrote it, as soon as it was posted, what happened just hours later?

RICH LEWIS, COLUMNIST, "THE SENTINAL": Well, I wrote the column on Wednesday afternoon with the information that I had available to me then, and I knew about the incident at the citadel so that added a little weight to what I had been thinking. And the column appeared in print, was published on Thursday morning and Thursday night I heard the first news reports about the incident at Syracuse which is not exactly the same kind of incident but close enough to make what I had said in the column seem even more plausible than I had feared.

HOLMES: What is it about -- I guess is it the nature, the culture of athletics? What is it about schools and these athletic programs that maybe put something in place that would allow allegations and abuses like this to take place? What is it about the culture and the campus?

LEWIS: Well, I got the idea for the column from other things that I had been reading that were suggesting that there was something unusual, maybe even unique, about the culture at Penn State. And that just didn't seem right to me. So, I stepped back and I wondered, well, what were the real underlying conditions here that allowed this to happen?

And it struck me that you basically had men in positions with great influence over children, you had institutional leaders who had great stakes in protecting the reputations of those institutions, and you had closed networks of people who all knew each other and might be reluctant, for example, to say anything negative or report anything negative about a long-time colleague. And it became very clear to me that these conditions exist at most, if not all, of the colleges and universities across the United States and not just in their sports departments.

HOLMES: And last thing to you, Rich, here. I know you weren't trying to make a prediction in your opinion piece here, but will this -- I guess the floodgates that you speak of, at Penn State now and Syracuse and what's happened at the Citadel, and people admitting that we made some mistakes and should have done more in the past, will this cause maybe some of the universities to go back and take a second look and get out ahead of the stories now so we might see the universities take it upon themselves to make sure they get this stuff and maybe go look at some allegations from years past?

LEWIS: I agree, absolutely. I can't imagine a more uncomfortable group of people than college or university presidents the days after -- the day after the Penn State story broke worrying if there perhaps had been something that they had overlooked. There are two other very powerful forces in play now. A big story like this attracts interest from reporters and reporters are now recalling perhaps rumors or reports that they had heard and looking into them in a much more aggressive way than they might have previously.

And then secondly, as many experts have testified, once a victim of sexual abuse comes forward, it encourages other victims to come forward. So, the schools are looking, the reporters are looking, and the potential victims have been encouraged to actually speak up. Those three things coming together suggest to me that we may be seeing a lot more cases in the coming weeks. It's not a prediction, because I hope that it's false. But it's a bad feeling about what might lie ahead.

HOLMES: Rich Lewis. It's an interesting read, again, from "The Sentinel" in Carlisle, an opinion piece called "Penn State Scandal Opens Floodgates." Certainly hope that's not the case. But, again, your piece proved awfully prophetic just hours after it was published.

Thank you so much for being here, Rich.

LEWIS: Thank you, T.J.

HOLMES: Also we're just getting this out of Penn State now. They've taken the interim tag off the title of now Penn State University President Rodney Erickson. Let me quote this for you. It says, "the board and the administration is focused on providing the leadership for the university that is need at this time. And President Erickson is committed to staying on for as long as needed. Under normal circumstances, a national search would be conducted over a period of time of a year or more with executive help, but this is not occurring at this time." They're saying, "Under our current situation, which is obviously unprecedented, the board has taken this unusual action to name the president who they believe will lead us forward." So, Penn State taking the interim tag off the man you have seen in a lot of the press reports, see his face on TV quite a bit as he was kind of leading, being a spokesperson while Penn State was going through this certainly a terrible time for their campus. But they have now taken the interim tag off Rodney Erickson, the new president now at Penn State University.

Well, we're at a quarter past the hour now. And that super committee, it's mission is to fix our budget woes, but why is the issue resting on the shoulders of 12 people? Why is this committee so super? Some answers for you. Stay with us.

(COMMERCIAL BREAK)

HOLMES: Well, supporters call it the last line of defense. Opponents say it would cause worse problems than it solves. It's a constitutional amendment that would force the federal government to balance its budget. Essentially not spend more than it takes in. States have to do this, but not the federal government. This has come up before, but not since 1995 has it actually been voted on by both houses of Congress. Today the House tries again.

This vote was part of the debt raising deal that also created that super committee. We'll get more on that in a second. In the '90s, the measure twice came within one Senate vote of passing, but even then three-quarters of the states would have had to ratify it. Passage less likely now.

As far as that super committee goes, two numbers loom above the rest. Five. That's the number of days remaining to come up with a plan. Also, 1.2 trillion. That's the size of the savings required. You're still a little fuzzy on what's supposed to be going on? We've got another number for you. A little super committee 101. Here's our Kate Bolduan.

(BEGIN VIDEOTAPE)

KATE BOLDUAN, CNN CONGRESSIONAL CORRESPONDENT: The super committee's formal name is the Joint Select Committee on Deficit Reduction. Classically complex in the only way that Congress can do it.

The reason it's been given the nickname of "super committee," if you will, is many believe that this committee has super powers. They basically can bypass a lot of the procedural hurdles that legislation often runs up against as it tries to make its way through the House and Senate.

The super committee was created during the debt ceiling debacle over the summer. It was created to basically do what Congress could not do during the debt ceiling negotiations, which was find bigger deficit savings in order to help the country stabilize its debt.

There are 12 members on this committee, 12 lawmakers, evenly split between the House and Senate, Democrat and Republican. They were all appointed by the leaders of each chamber. They bring a range of experience, a range of backgrounds and a range of political motivations, if you will.

The deadline is tight. The committee has until November 23rd, right before Thanksgiving, to reach agreement. It does not have to be unanimous within the committee. It has to be a majority of the members on the committee that has to reach agreement. And then it is sent to Congress to both chambers, the House and the Senate, and Congress has to vote on it by December 23rd.

The general areas of where they're focusing are in spending cuts. You know, taking a look at government programs and seeing where spending can be reduced. Taking a look at mandatory spending, if you will. That's basically entitlement programs, the big one being Medicare and where they can find savings within that. And another -- the flip side of the coin is also revenue and that can be -- that is often considered by many as the idea of tax increases. And so you can see that there is a lot of politics. These are very politically charged issues.

(END VIDEOTAPE)

HOLMES: So, what if they fail? Well, if they don't pass the plan or even if they do and Congress does not pass it, then some spending cuts will kick in automatically. Stay tuned. Again, we've got five days to go.

It was ruled accidental but now there are new questions about the drowning death of actress Natalie Wood. The case is re-opened. But will investigators find the evidence they need? A live report next.

Also, a couple torn apart by tragedy will be brought back together in spirit. Madeline Cates' fiance was killed in battle. What she's doing to honor his service. She'll explain it next. Stay with me.

(COMMERCIAL BREAK)

HOLMES: The 1981 death of actress Natalie Wood was a shock. It was a tragedy. But was it a crime? At the time investigators said, no, Wood's drowning off Catalina Island in southern California was ruled accidental.

Thirty years later, almost to the week, the L.A. County sheriff is re-opening the case based on new information that may come out in a news conference at the top of the hours. We will have that for you live right here on CNN.

But this much we do know. Wood's sister and the captain of the yacht Wood was sailing on the night she disappeared and died have long insisted the real story wasn't being told. Each point to a nasty fight between Wood and her husband, Robert Wagner, who was also on the boat, as was the actor Christopher Walken. Now Captain Dennis Davern told his story in a 2009 book and just last hour he was talking again in the CNN NEWSROOM.

(BEGIN VIDEO CLIP) DENNIS DAVERN, FMR. CAPTAIN OF THE "SPLENDOUR": Christopher and Natalie were sitting on the sofa, and within a split second, Robert Wagner picked up a wine bottle and smashed it on the coffee table and yelled out "what are you trying to do, 'blank' my wife?"

(END VIDEO CLIP)

HOLMES: All right, CNN's Kareen Wynter with me now from Los Angeles.

Kareen, why are they reopening this case? Do we really know?

KAREEN WYNTER, CNN CORRESPONDENT: Well, they have, obviously, T.J., explosive new information. As you mentioned, we're awaiting that press conference. It's going to take place behind me at the top of the hour. And so far officials haven't said exactly who this information could be coming from.

You heard from the former captain of that yacht that Natalie Wood, Robert Wagner, one of Wood's co-stars, Christopher Walken was on back in 1981, the night that she died. But again, could it have to do with these explosive new claims?

Here's what's interesting, OK. So Davern, T.J., he's come forward before to basically shed light on what happened that night. And while investigators back in 1981, T.J., they ruled this death accidental, you know, it's always been so mysterious, so suspicious, the circumstances, you know, to which Wood died. You know, she was found with bruises on her body floating in the Pacific Ocean.

And so this Dennis Davern, he's basically saying that he has a new recollection of what happened that night. He suggests that he misled investigators at first by keeping quiet on what exactly happened at Wagner's request. He also contends that Wagner -- and here's the big thing -- was, in fact, responsible for Natalie Wood death. And he said he lied to investigators about everything that happened the night Natalie Wood died.

So we're awaiting that news conference. So many questions here. You know, could this man be incriminating himself coming forward, T.J., nearly three decades later to say, hey, I'm going to set the record straight, what really happened that night.

I want to add, we're hearing from Robert Wagner. His publicist did release a statement. I want to read that to you. He's saying the actor's "family fully support the efforts of the L.A. County Sheriff's Department and trusts they will evaluate whether any new information relating to the death of Natalie Wood Wagner is valid and that it comes from a credible source or sources other than those simply trying to profit from the 30-year anniversary of her tragic death."

And as we all know, there's been a book written, there's some speculation here that someone may be trying to capitalize on this upcoming anniversary. We'll get a lot of those questions answered coming up at the top of the hour, T.J.

HOLMES: All right, Kareen Wynter there for us, thank you.

And a reminder to our viewers, that's 30 minutes away from that new information from the authorities out in L.A. on this Natalie Wood case. We'll have that for you live top of the hour.

We turn now to a story of love and sacrifice. A fallen Marine's fiance wants to finish what he started. Madeline Cates enlisted in the U.S. Marines last month, just weeks after the love of her life, Travis Nelson, was killed during his first tour in Afghanistan. Madelyn, here with me now.

Thank you for spending some time with us. And I've read everywhere that you feel like you are finishing what he started. What do you mean by that?

MADELINE CATES, FALLEN MARINE'S FIANCE (via telephone): That's correct, T.J. Basically I just have it in me right now to basically finish his mission. He started it and I'm hoping to finish it for him. I want to be able to do that for him. I feel like I would honor him in that way.

HOLMES: Now, a lot of people would tell you, he enlisted, he went to war, he sacrificed for his country. So, you know, it sounds like he did do his mission.

But what part of you feels it is not complete, that he didn't necessarily get to finish?

CATES: Well, just the fact that it was such a short time that he was over there and that he had so many like plans in the Marine Corps that he never got to do and he just got started out.

He hadn't even been in a year. So I feel like I need to do that for him. I think that he would like that.

HOLMES: You ever thought about military service for yourself before?

CATES: Oh, no, not at all.

(LAUGHTER)

CATES: Not at all, not until recently, about maybe a few months ago.

HOLMES: Now, how long after his death did this idea really come up and how long did you go back and forth debating about doing it?

CATES: Well, I started thinking about it not even a week afterwards. Like, it just popped into my head. And it kind of stuck there. I didn't really say anything for a while, but probably I want to say almost two months afterwards is when I finally went to the recruiting station and it just went from there.

HOLMES: When did you all plan to get married? CATES: He proposed March of this year. March 20 is when we got engaged. And he was supposed to be back from Afghanistan February or March time frame. There's no direct time.

But whenever he got back, we were supposed to have our wedding. We already had it all planned out. And -- but, you know...

HOLMES: Madeline, what kind of military career do you want now? Is this going to be a long-term thing or have you thought that far ahead?

CATES: I haven't thought that far in advance yet. Right now, I'm hoping to get into a media or paralegal field. If that works out, then I think it could turn into a good career, good future.

HOLMES: Madeline, it is an absolute pleasure to talk to you. I'm sorry these circumstances brought us together, but a lot of people have heard your story, and they are certainly touched by it. So sorry for your loss, but I really hope we can continue to keep up with you and check in with you as you begin his mission, as you say, but a mission of your own as well.

Thank you so much and good luck, Madeline.

CATES: Yes, sir. Thank you, T.J. Bye.

HOLMES: We're just past the bottom of the hour now. We will turn next to some politics.

And Sarah Palin, she is saying that Congress has been occupying Wall Street long before anybody ever pitched a tent. Now the government is making money off the expense of others, and it is all "Fair Game" and it is all next.

Also, we are waiting to hear from presidential candidate Mitt Romney. He's talking jobs and the economy in New Hampshire. We will bring you some of that live straight ahead.

But, first, a question for the political junkies out there, Newt Gingrich in the news for fees he earned advising Freddie Mac, but he insists he wasn't a lobbyist. So how many former senators and representatives now work as lobbyists in what is known as the shadow Congress? Would you 53, 104, 195, or a whopping 286? We will tell you in a second.

(COMMERCIAL BREAK)

HOLMES: We asked you just a moment ago how many former members of Congress now work as lobbyists? Somewhere between 53 and 286. Well, the answer is actually 195 former members of Congress now serve in the so-called shadow Congress, in many cases earning millions of dollars for their work. It breaks down to about 90 Democrats and 105 Republicans.

Now, though, Occupy movements really ought to park outside Congress, some would tell you. Studies show senators and representatives are getting rich or richer a lot faster than the average Americans. The publication "Roll Call" finds the collective work of Congress topped $2 billion in 2010. That's a 25 percent increase in just two years.

"USA Today" says there are 250 millionaires in Congress. In an op-ed piece in "The Wall Street Journal," Sarah Palin says -- and I quote -- "Politicians derive power from the authority of their office and their access to our tax dollars. And they use that power to enrich and shield themselves."

So, what do you think about that and what in the world should we do about that?

It's all "Fair Game" for Maria Cardona. She's a Democratic strategist with us from D.C. And Will Cain, columnist and Republican analyst for us in New York.

Let me start with you. Are we learning anything new here? We are starting to talk about this more, Maria, but, I mean, power, money, politics, corruption? I mean, this is par for the course, ain't it?

MARIA CARDONA, CNN CONTRIBUTOR: Well, I mean, it is certainly a story that we have seen before in Washington, but I guess I would draw the attention to two things about Sarah Palin's op-ed.

The first one is, in the very first line, she quotes Peter Schweizer, who she says is her foreign policy adviser. He's also her speechwriter. So I'm wondering if he didn't write this op-ed in an effort to sell his book.

And the second thing I would say is, it is a little laughable for Sarah Palin to be talking about millionaires and billionaires in Congress and then the rest of us -- quote, unquote -- "the rest of us."

Really, Sarah? You're not a millionaire by now with all of the speeches that you have been using, trading on the name that you have been able to gain in politics? So it is a little hypocritical. I will say that what she talks about, the issues that she talks about are certainly issues that we should all support. And I will get to that in a minute.

HOLMES: OK. Go ahead, though, Will. But, yes, Maria is attacking the messenger there, but should we pay attention to the message?

WILL CAIN, "NATIONAL REVIEW": Absolutely.

I mean, if Peter Schweizer wrote this in order to sell books, then, great, let's sell books and get this message out.

T.J., I don't think your cynicism is misplaced. Here is the deal. This story, it does not exist in a silo. It is not alone. It joins a chorus of stories this week -- and Maria has heard me harp on this -- but from the Obama administration sending e-mails for Solyndra to put off their firings until after the midterm elections, or Newt Gingrich taking money from Freddie and Fannie.

Sarah Palin has a line here, T.J., here in her article. She says, "How do politicians who arrive in D.C. as men and women of modest means leave as millionaires?"

The bigger question is, how do presumably moral people go to Washington, D.C., and lose their moral compass? What I'm telling you is don't focus on the men and the women; focus on the incentives. I will just -- I will put this in one last context.

Siegfried and Roy, remember Siegfried and Roy? I can't remember which one it was that got attacked by the tiger, but let's just say it was Siegfried, OK?

HOLMES: All right. OK.

CAIN: Siegfried gets attacked. We don't look at that story and go, man, we should have had a better tiger trainer or he should have made a few different moves. The moral of that story was don't mess with tigers.

The tiger in this story is the place where government and industry overlaps. Reduce those areas and you will have less of this ugliness. That means don't invest in the future in winning the future, green energy, all of these issues. That's how you avoid this.

HOLMES: To his point there, Maria, are these -- I guess they have moral failings. We all do. But...

CARDONA: Sure.

HOLMES: ... are these folks -- can we call them good folks if -- he just talked about morality there -- if they are gaming the system, gaming us all and I guess, frankly, some would tell you just engage in some immoral behavior?

CARDONA: Well, I think we need to be careful to paint everybody. Again this is what Peter does in this book -- to paint everybody with that broad brush.

Like I said earlier, there are issues here that we should all pay attention to, starting with -- and here's clearly something that Sarah Palin does not mention because again she clearly didn't research this. There is legislation right now on the Hill called the STOCK Act that would actually call for full disclosure, a lot more transparency, a lot more sunlight in terms of the investments that members of Congress are making.

And guess what? The vast majority of co-sponsors of that legislation are Democrats. If Sarah Palin really wants to make a dent in this issue she should pick up the phone and urge her Republican friends to support legislation like the STOCK Act.

HOLMES: Forever the good Democrat there, Maria is.

(LAUGHTER) HOLMES: Will, wrap this up for me in 15 seconds. I know you got something.

CAIN: I just want to say this is bigger than a moral issue, T.J. It is not just about these guys losing their moral way. You throw these bums out, you will get a new crop of bums in. You have got to change the incentives in the system. It is not even just about a STOCK act. It's not even just about this story. Reduce the nexus between government and industry. Otherwise, you will just have a new issue next week with new bums next week.

HOLMES: Will, well said. Maria, always good to see you.

CARDONA: Thanks, T.J.

HOLMES: Both of you have a good weekend.

Maria, I know I will see you tomorrow here on CNN Saturday morning.

CARDONA: Looking forward to it.

HOLMES: But thanks to you both.

Remember, Tuesday night, to our viewers here, CNN hosting the next Republican presidential debate co-sponsored by the Heritage Foundation and the American Enterprise Institute. Starts at 8:00 Eastern. That's November 22 right here on CNN.

And a reminder: We are expecting to hear from Mitt Romney at any moment talking about jobs and the economy. He's at a business in New Hampshire. We will bring some of that to you live when he does step out. That's straight ahead.

Also, President Obama sees a light at the end of the tunnel in Myanmar.

(BEGIN VIDEO CLIP)

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: After years of darkness, we have seen flickers of progress in these last several weeks.

(END VIDEO CLIP)

HOLMES: And to ramp up efforts to keep these flickers, President Obama sending Hillary Clinton.

(COMMERCIAL BREAK)

HOLMES: Tens of thousands of Egyptian demonstrators flooded Cairo's Tahrir Square today. They were protesting plans for a constitution that would shield the military from public oversight.

The air was filled with shouts of "Down with military rule." Egypt has been covering by a military Supreme Council since the ouster of President Hosni Mubarak in February. The protesters, dominated by Islamists, are threatening to disrupt parliamentary elections set for later this month if, if their demands are not met.

Also, Hillary Clinton set to become the first secretary of state to visit Myanmar in more than 50 years. President Obama said today that Clinton would visit the country formerly known as Burma next month. The visit comes as Myanmar's military government is showing signs of what President Obama calls flickers of progress towards democracy in recent weeks.

One example, pro-democracy leader Aung San Suu Kyi's decision to take part in future elections. She was freed last year after spending 15 years under house arrest. Secretary Clinton says she has no illusions, however, about the trip.

(BEGIN VIDEO CLIP)

HILLARY RODHAM CLINTON, U.S. SECRETARY OF STATE: Well, one of the reasons that I'm going is to test what the true intentions are and whether there is a commitment to both economic and political reform.

I have talk to Aung San Suu Kyi. The president has. We have had many interactions with her through top officials, along with others. And there certainly does seem to be an opening. Now, how real it is, how far it goes, you know, we're going to have to make sure we have a better understanding than we do right now.

(END VIDEO CLIP)

HOLMES: Well, Myanmar's military government has a long history of bloody crackdowns against pro-democracy protesters. The last one was four years ago, in which the U.N. says more than 30 people were killed.

We're about a quarter until the top of the hour. We are standing by to hear from Republican presidential candidate Mitt Romney. He will step up to the podium, going to be talking jobs and economy. He's there in New Hampshire. We will have some of that live for you straight ahead.

(COMMERCIAL BREAK)

HOLMES: Give you a check of some of the stories making headlines across the country now.

First, surveillance video out of Albuquerque, this shows two police officers beating a suspected car thief. This was back in February. They were kicking him over and over in the head. But then the video also shows the two officers chest-bumping each other and appeared to be celebrating the beating of the suspect. The police chief fired both officers and they could face charges.

In his report, one officer said he thought the suspect was armed. He was not, however, at the time, but a stolen gun was found in the trunk of the suspect's car. Also, in Nashville, a bestselling novelist swimming against the tide and opening a bookstore, an independent bookstore. Ann Patchett opened Parnassus Books at a time when many independent bookstores have closed or on the brink of going under. She took this step after a Borders and another bookstore in her hometown closed last year.

Patchett explained this morning CBS' "The Early Show" why she's making the move.

(BEGIN VIDEO CLIP)

ANN PATCHETT, PARNASSUS BOOKS: Some things really matter and I think having a book really matters. Having that sense of a community center and a place you could go the way I went to bookstores when I was growing up, I really wanted that for the people in my city.

(END VIDEO CLIP)

HOLMES: Well, Patchett calls her investment in the bookstore her gift to her hometown.

Also turning to the East Coast now, where soon you may be seeing a holiday message calling Santa and Jesus myths, yes, baby Jesus a myth. Billboards like the one you're seeing expected to go up on the New Jersey side of the Lincoln Tunnel and in parts of Florida and Ohio. The message here, that 37 million Americans know myths when they see them. And it shows images of Santa, Jesus, and the devil. The American Atheists organization says the myth campaign is meant to be thought-provoking.

Christian organization say these holiday signs are just adding to the war on Christmas.

Also in New York, more than two dozen current and former steak house waiters have been arrested for allegedly stealing people's identities. A local news station says they worked at high-end restaurants and reportedly scammed customers who used AmEx Black and other high-limit credit cards.

Investigators say the suspects used handheld scanners to skim or steal the numbers and go on major buying binges which totaled at least a million dollars, and they would allegedly sell the items they bought for cash.

Also, in Phoenix, Arizona Governor Jan Brewer's effort to remove the chair of the state's independent redistricting commission has failed. The state Supreme Court says Brewer's neglect of duty and misconduct claims were not substantiated. So, they reinstated Colleen Mathis to the board. Brewer responded by calling the decision -- quote -- "regrettable" this weekend.

Making your vote for congressional candidates count and whether where you live makes a major difference, "CNN PRESENTS" and explains in "Gerry-Rigged." That's Sunday night 8:00 Eastern right here on CNN. And as we get close to the top of the hour and get ready for Brooke Baldwin, who is standing by, we are standing by as well for Mitt Romney, running just a tad late, has an event there in New Hampshire. He's going to be talking about jobs and the economy. We will certainly bring you portions of that live. That's straight ahead.

Stick around.

(COMMERCIAL BREAK)

HOLMES: We're going to turn to some weather here in a moment.

Reminder, we are standing by for that event from Mitt Romney, waiting to hear from him in New Hampshire. When he steps to that microphone, we will certainly bring that to you live.

(WEATHER UPDATE)

HOLMES: And a reminder to our viewers, a couple of things we're keeping an eye on here at the top of the hour. You saw that box there. We're waiting for investigators out in L.A. to give us an update on the Natalie Wood case that is being reopened.

But, also, we told you we're waiting to hear from Mitt Romney. There he is, has the mike, talking about jobs just economy. Let's listen.

(JOINED IN PROGRESS)

MITT ROMNEY (R), PRESIDENTIAL CANDIDATE: ... take some questions from you, but, first, just a couple of words.

As you know, I spent my life in the private sector. Ray Wieczorek, good to have you here, member of the Executive Council. Just saw you walk in.

Any other elected officials that I have missed here, introduce yourselves.

(CROSSTALK)

UNIDENTIFIED MALE: Governor, no, no, Senator Boutin here.

ROMNEY: Thanks, Senator. Good to have you here, and Ray Wieczorek.

(APPLAUSE)

ROMNEY: I have spent my life doing what you do in the private sector.

I had the occasion of going to work after I got out of school at the ground level of a consulting business and then, over time, worked my way to a position of leadership there. And then I -- I got the chance to start a business of my own. And we started off with, I think, about 10 employees, and then grew it over time quite successfully. I learned some things about what it was like to work in the private sector. And I have had the chance to compare the private sector vs. the governmental sector.

And they are different. And, by the way, what you're doing is harder. People in the private sector have a tough job, because what you do is very unforgiving. You have to balance your budget, because, if you don't, you go out of business. You have to make ends meet. If you don't, people lose their jobs.

You have to make sure that your revenues exceed your costs. If not, you will lose your investment, your family's investment, the investment of others. Jobs, investments, and the ongoing survivability of the enterprise depend upon you balancing budgets and being successful.

In government, it's far more forgiving in some states -- perhaps not this one, right, right, Ray, Senator? No. No.

(LAUGHTER)

ROMNEY: In government, if you spend too much money, you blame it on the opposition party or you go out and raise taxes or fees, or you borrow more money.

And so you have something which has happened at the federal level, which is really astonishing. We have now accumulated, as a nation, $15 trillion in debt. It's an unthinkable number. When the president was a senator, he considered the $9 trillion of debt in the nation something that was unacceptable, unpatriotic, $9 trillion.

Now we have $15 trillion. He will add, by the end of his first term, almost as much debt as all the prior presidents combined. It is simply inexcusable for us to have this level of mounting debt year after year after year. That would not happen in the private sector. You simply can't do that. Now, there are some other differences...

(END LIVE COVERAGE OF ROMNEY)

BROOKE BALDWIN, CNN ANCHOR: All right, you have been listening to GOP front-runner Mitt Romney talking to a crowd there in Manchester, New Hampshire, speaking to a Chamber of Commerce event there. So that's what is happening now. We have got one eye on that.