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April 19th, 2010
01:12 PM ET

Volcano, travel updates


Air travelers stranded by the volcano may be rescued by British Royal Navy ships, says Prime Minister Gordon Brown.

CNN

Here are the latest highlights regarding problems for air travel caused by the volcanic eruption in Iceland.

Ongoing:

- The British Royal Navy will send ships to help bring home travelers who have been stranded by the restrictions on British airspace because of a cloud of volcanic ash, Prime Minister Gordon Brown announced Monday.

- European Commission President Jose Manuel Barroso ordered formation of a group to study the impact of the volcanic ash cloud on the European economy and the air travel industry.

- Airports have lost close to 136 million euros ($184 million) so far, said Olivier Jankovec, director general of Airports Council International (ACI) Europe, a group that represents airports. More than 6.8 million passengers have been affected, he said.

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Filed under: Environmental issues • Travel
April 19th, 2010
12:39 PM ET

Does Goldman case help Chris Dodd?

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/02/10/art.getty.chris.dodd.jpg caption="The Goldman case could help pass Sen. Chris Dodd's financial reform plan."]

Colin Barr
Fortune

Could the civil fraud case against Goldman Sachs be the break regulatory reformers have been looking for?

At first blush, the idea seems far-fetched. Republicans in the Senate have steadfastly opposed Democratic plans to rein in the big banks. Bankers' deep pocketbooks give them enormous pull in Washington, and public outrage over financial industry wrongdoing has been blunted by the hair-pulling detail of reform proposals.

The Goldman case could help pass Sen. Chris Dodd's financial reform plan. Yet some observers say the Goldman (GS, Fortune 500) case could swing the balance against the too-big-to-fail banks. It exposes the games Wall Street was playing while the housing boom inflated and then collapsed - with devastating consequences on jobs, incomes and communities.

"This will strengthen the hand of the Democrats in pushing reform," said Douglas Elliott, an economic studies fellow at the Brookings Institute in Washington.

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Filed under: Economy • Wall St.
April 19th, 2010
12:31 PM ET

Goldman's liability could reach $700 million

[cnn-photo-caption image=http://i.cdn.turner.com/money/.element/img/1.0/sections/mag/fortune/mostadmired/2010/snapshots/goldman_sachs_ny_building.jc.jpg caption="Goldman Sachs could be forced to pay out $706.5 million over the next few years."]

Ben Rooney
CNN Money

Goldman Sachs could face a liability of more than $700 million as a result of charges it misled investors, according to a recent research report.

Brad Hintz, senior analyst at Bernstein Research, estimates that the charges could cost Goldman a total of $706.5 million, or $1.20 per share, over the next few years.

The Securities and Exchange Commission announced Friday it is suing Goldman for failure to disclose conflicts in a 2007 sale of a so-called collateralized debt obligation (CDO). Investors in the CDO, known as Abacus 2007-AC1, ultimately lost $1 billion.

In addition to the SEC case, many investors in Abacus are expected to file related claims against Goldman Sachs.

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Filed under: Economy • Wall St.
April 19th, 2010
12:04 PM ET

Video: Ash causing more than travel woes

Gary Tuchman | BIO
AC360° Correspondent



Filed under: Environmental issues • Gary Tuchman
April 19th, 2010
11:55 AM ET
April 19th, 2010
11:40 AM ET

Mom vanishes while shopping

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[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/04/20/art.vert.crime.tiffany.new.jpg caption="Tiffany Tehan went shopping on Saturday morning and has been missing ever since." width=292 height=320]

Gabriel Falcon
AC360° Writer

A woman who went shopping Saturday morning never returned home and has been classified as missing, authorities in Ohio said.

Tiffany Tehan, 31, disappeared after telling family and friends she was going to several garage sales, according to the Xenia Police. The Ford Explorer she was driving was found abandoned and with a flat tire early Sunday near a skate park in nearby Kettering, Ohio, police said.

“Her being gone is totally out of character by everybody’s account,” Capt. Scott Anger of the Xenia Police told CNN. “These are unusual circumstances and we do have some concerns for her safety.”

Authorities have classified the investigation as suspicious and won’t rule out the possibility that Tehan, a mother of a 1-year-old child, is in danger.

“Right now family and friends have concerns that there could be some type of foul play,” Capt. Anger said, “because nobody has any other explanation.

FULL POST


Filed under: Crime & Punishment • Gabe Falcon
April 19th, 2010
11:32 AM ET

Video: Kevorkian doesn't deny playing God

Anderson Cooper | BIO
AC360° Anchor


Filed under: Anderson Cooper • Ethics
April 19th, 2010
11:24 AM ET
April 19th, 2010
11:13 AM ET

Morning Buzz: Oklahoma City conspiracy theory?

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/POLITICS/06/22/terror.guns/art.gun.afp.gi.jpg caption="Today, gun rights advocates will protest in Washington, D.C. and Virginia."]

Clare O'Connor
AC360° Intern

Fifteen years ago today, Timothy McVeigh set off explosives in front of the Alfred P. Murrah Federal Building in downtown Oklahoma City. The bombing killed 168 people – the most deadly act of homegrown terrorism in the United States. Today, many argue the threat of domestic terrorism has reemerged, with militias speaking out against the government. Tonight we look at the legacy of Oklahoma City, including the conspiracy theorists that believe the government itself was behind the bombing.

In 1995, State Representative Charles Key was the city’s most visible proponent of a theory that federal agents knew in advance that the Murrah building was going to be bombed. His conspiracy theory offended so many people that he was voted out of office. But he reclaimed his seat in 2006 and feels there are unanswered questions about the bombing. What is making him suspicious? Don’t miss Kate Bolduan’s report tonight.

We’re also following today’s rally in Washington, D.C., where gun rights advocates will gather for the Second Amendment March. These advocates say they want to remind lawmakers of their right to bear arms. This Washington group says that won’t be carrying guns to the rally, but a few miles away at Gravelly Point, VA, another group plans to demonstrate with its weapons out in the open. Several prominent members of the militia movement are expected to speak at the “open carry” event. We’ll take a look at both rallies tonight.

Across all 50 states today, groups of protesters will gather at state capitols to deliver the Articles of Freedom to elected officials. They say their goal is to remind leaders to follow the Constitution, and that they’re not taking sides politically. We’ll take you to two of the biggest planned events, in Albany and Austin.

We’ll also give you the latest on Iceland’s disruptive volcano. Eyjafjallajökull and its thick clouds of ash have caused chaos for air travelers all week. Flights in Europe remain grounded, although test flights indicate the worst may be over. Now, some airlines are asking the European Union for compensation for the billions of dollars they’ve lost. What do you think? Is that fair?

And we’re also reporting on President Obama’s fundraising trip to California, where he will campaign on behalf of Senator Barbara Boxer’s re-election. She expects to face her toughest race since first being elected in 1992. California has one of the highest unemployment rates in the country, and three Republicans are vying to fight Boxer for her seat. The three-term Senator hopes Obama’s presence will help convince Democrats to head to the polls.

What else are you following? Let us know and see you at 10 p.m. ET.


Filed under: President Barack Obama • Terrorism • The Buzz
April 19th, 2010
10:51 AM ET

Tea Party protests are a good thing

Roland S. Martin
CNN Political Analyst

An angry bunch of Americans has taken to the streets to protest government spending and the direction of the nation, and judging by the massive media coverage, it's as if we have been invaded by a foreign entity, marching on state capitals and Washington ready to lead a coup d'état against our elected officials.

The rise of the Tea Party is being chronicled as a threat to democracy, or a grassroots collective unlike anything we have seen in many years.

As Public Enemy wisely put it with their hit song in 1988, "Don't Believe the Hype!"

First, let's deal with the Tea Party haters. Please, shut up.

How can any liberal, progressive, moderate or conservative be mad about a group of Americans taking to the streets to protest the actions of the country? What they are engaged in is constitutional. The freedom to assemble, march, walk, scream and yell is right there in the document we all abide by.

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Filed under: Roland S. Martin • Tea Party
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