CNN Student News Transcript: September 26, 2008

(CNN Student News) -- September 26, 2008

Quick Guide

How Did We Get Here? - Hear how we arrived at the current state of the U.S. financial crisis.

What to Expect - Examine the performances of the White House hopefuls in recent debates.

Canine Calculus - Find out how one dog employs calculus to optimize his fetching skills.

Transcript

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

CARL AZUZ, CNN STUDENT NEWS ANCHOR: It's Friday -- awesome! -- and we're glad you're wrapping up your week with CNN Student News. From the CNN Center, I'm Carl Azuz.

First Up: Trying Times

AZUZ: First up, crisis in America's economy, as members of the House and Senate debate President Bush's bailout proposal. Yesterday, they said the negotiations were making progress. But as of Thursday evening, some lawmakers said that they are still nowhere near a deal. President Bush invited leaders from both parties to the White House yesterday, along with presidential candidates Barack Obama and John McCain. Mr. Bush said the meeting was an attempt to "move the process forward," but it ended without a deal in place. Meanwhile, protesters voiced their anger over the bailout proposal. Activist groups said that hundreds of demonstrations took place across the country yesterday.

How Did We Get Here?

AZUZ: Ok, so that's where things stand now. How in the world did we get here? Earlier, I talked with Paul LaMonica, editor at large at CNNMoney.com, about what led to this current financial crisis and how we arrived at this proposal for a $700 billion solution.

(BEGIN VIDEO CLIP)

AZUZ: Paul, the economy: What is going on with it?

PAUL LAMONICA, EDITOR-AT-LARGE, CNNMONEY.COM: Really simply put, what's happened is that since housing prices have fallen as dramatically as they have in the past year or so, a lot of people are not able to afford their mortgages anymore because they probably weren't, they were given loans that they probably shouldn't have received from banks. A lot of banks gave out loans to people who may not have qualified for loans in the past. Because so many mortgages have gone sour and people are defaulting, foreclosures have gone up. That's really hurt a lot of the nation's banks, investment banks and even some insurance companies because many of them just had big investments in these pools of loans that have gone bad.

AZUZ: Bailout. We've heard the figure $700 billion. How did they get at that number?

LAMONICA: I think it is in some respects a very rough estimate of how many, how much the cost would be to purchase the worst-performing loans that many banks are stuck with right now. A lot of people think that the number could go higher than that if the government is not able to sell these loans for a decent price. And on the flip side, some people think that the cost could be much lower because the government may actually be able to get a better price through an orderly sale process as opposed to something that's rushed, and it won't cost taxpayers as much. So that $700 billion number is really just a benchmark right now. I doubt it will cost that exact number; could be a lot higher, could be a lot lower.

(END VIDEO CLIP)

Shoutout

GEORGE RAMSAY, CNN STUDENT NEWS: Today's Shoutout goes out to Mr. Hubbard's government classes at Franklin County High School in Rocky Mount, Virginia! Which of these cities is not scheduled to host a presidential debate? You know what to do! Is it: A) Oxford, Mississippi, B) Nashville, Tennessee, C) Hempstead, New York or D) Boston, Massachusetts? You've got three seconds -- GO! Boston is the odd man out, no debate about it. That's your answer and that's your Shoutout!

What to Expect

AZUZ: Oxford was scheduled to host the first presidential debate tonight about foreign policy. But when we taped this program, things were still a little up in the air. You see, when Senator McCain suspended his campaign Wednesday, he said he wouldn't take part in the debate if Congress hadn't reached a deal on the bailout. Now, at some point, the presidential candidates will face off. And when they do, Carol Costello tells us what we might expect to see.

(BEGIN VIDEO CLIP)

CAROL COSTELLO, CNN REPORTER: As debaters, both men have certainly had a lot of practice. During the primary, McCain logged 14, Obama 22. Still, this series of three debates will be different. One major gaffe could be fatal; the race has been that close. And both men have shown they can slip up. When Barack Obama uttered this line while debating Hillary Clinton...

SEN. BARACK OBAMA, (D) PRESIDENTIAL CANDIDATE: You're likeable enough, Hillary, no doubt about it.

COSTELLO: ...He gave credence to those who feel he's condescending. And his sometimes long winded, professorial answers don't help either.

JIM VANDEHEI, POLITICO.COM: It seems a little absurd that we don't want our candidates to sound too smart. But sometimes we don't want them to sound too smart or too long winded. We actually want to, like, have an emotional connection with them.

COSTELLO: Some analysts say McCain has the opposite problem: He is sometimes slow to answer questions, which make him appear uncertain. In May of last year, when McCain was asked whether he believed in evolution...

SEN. JOHN MCCAIN, (R) PRESIDENTIAL CANDIDATE: Yes.

DEBATE MODERATOR: I'm curious, is there anybody else on the stage who does not believe in evolution?

MCCAIN: May I just add to that? I believe in evolution, but I also believe when I hike the Grand Canyon and see a sunset that the hand of God is there also.

COSTELLO: The big plus for McCain in debate: McCain's passion, foreign policy.

MCCAIN: On the subject of Osama bin Laden, he is responsible for the deaths of thousands of innocent Americans. He is now orchestrating other attacks on the United States of America.

VANDEHEI: McCain views the world through sort of right or wrong and honor or dishonor. And he is sort of at his best, and I think he's at his most authentic, when he's talking in those visceral terms.

COSTELLO: And while humor won't exactly fit into a debate during these troubled times, Obama is clearly capable of connecting in a warm, humorous way. Listen to how he responded to a question about Bill Clinton being the "first black president":

OBAMA: I have to, you know, investigate more of Bill's dancing abilities.

(END VIDEO CLIP)

Promo

AZUZ: To get the latest on tonight's scheduled debate, head to CNN.com. And when the presidential candidates do face off, our Viewing Guide will help students interpret the event. You can find that free resource at CNNStudentNews.com.

Hispanic Heritage Month Profile

(BEGIN VIDEO CLIP)

GUSTAVO GONZALEZ, CNN STUDENT NEWS: Roberto Clemente Walker was born in Carolina, Puerto Rico in 1934. He made his debut as a Major League Baseball player in 1955, becoming one of the first Latin American baseball stars in the U.S. Throughout his 18 year career, Clemente helped lead the Pittsburgh Pirates to two World Series Championships, recorded his 3,000th base hit, won four National League batting titles and earned the Most Valuable Player honor in 1966. Clemente was the first Hispanic inducted into the National Baseball Hall of Fame in 1973. His accomplishments were also recognized off the field. Like his humanitarian work after a massive earthquake hit Nicaragua in 1972. He died that year in a plane crash while attempting to deliver aid to Nicaraguan victims. Celebrating the life and achievements of Roberto Clemente, this Hispanic Heritage Month.

(END VIDEO CLIP)

Blog Report

AZUZ: Lots of good comments on our blog to tell you about today! On yesterday's report about a district going to a four-day school week to save gas money, Russell wrote, "After three days off, I would definitely start to get lazy and senoritis would be more contagious." But a class from Randolph, Nebraska has been on the four-day school week for three years. They love it, saying you get into the routine of longer days and they aren't bad at all. On the topic of classes separated by gender, Ross wrote, "It may supposedly help students learn better, but who would want a room full of guys, and no girls?" I feel your pain. But Laura thinks splitting up guys and girls is a good idea because girls like to take time at some things, whereas guys like to speed through their work. And Ashley liked the idea too, because she says there would be no boys to get class off track. Ashley, I respectfully disagree. A little distraction can be a lot of fun.

Canine Calculus

AZUZ: And finally today, a four-legged friend who uses formulas to help him fetch. Now, calculus, nasty, it can be a tough subject for anyone to master. But Tim Pennings says it comes naturally to Elvis, which is a little surprising considering Elvis is a dog! Bill Osmulski of affiliate WKOW in Madison, Wisconsin introduces us to this calculating canine.

(BEGIN VIDEO CLIP)

BILL OSMULSKI, WKOW REPORTER: Elvis's priorities are clear.

PROFESSOR TIM PENNINGS, HOPE COLLEGE: He has to find the minimum amount of time it takes him to get to the ball.

OSMULSKI: On the beach, Dr. Pennings would throw the ball into the lake. He then watched how far Elvis would run along the shore before deciding to swim for it.

PENNINGS: When he did that, it reminded me of problems I would always do in calculus, where I had a similar situation. And when I found the solution, it was exactly the same path that he took.

OSMULSKI: Leave it to a college professor to ruin a perfectly good game of fetch with something like calculus. Still, Dr. Pennings was convinced he was on to something. He started taking measurements and making calculations based on Elvis's path.

PENNINGS: When I realized how close he was coming to the optimal solution, that was quite a surprise. I wasn't expecting it to be so good.

OSMULSKI: Apparently, no one else was either. That discovery made the name Elvis famous again. You can find this Elvis in newspapers, magazines and academic journals around the world.

PENNINGS: He's a great ambassador for mathematics, and that's why it's fun to do it.

CARL ANDERSON, BELOIT COLLEGE SENIOR: It sometimes seems like a boring subject, but you have a dog like Elvis, it can really bring some light to it.

OSMULSKI: And lure unsuspecting children and college students alike.

MARISSA BERRIER, BELOIT COLLEGE FRESHMAN: I'm going to have to go and actually do my calculus now.

OSMULSKI: Elvis proves that calculus isn't always about numbers on a board.

PENNINGS: Well, obviously he's not doing the calculus in his head. He just has some innate ability to find the optimal solution.

OSMULSKI: No matter how he does it, Elvis brings hope for many calculus students.

BERRIER: If the little guy can do it, I can probably get through it.

ELVIS: (Barks)

(END VIDEO CLIP)

Goodbye

AZUZ: That mathematic mutt is the final factor in today's equation. We'll formulate a new show for you on Monday. Have a great weekend.