CNN Student News Transcript: April 1, 2008

(CNN Student News) -- April 1, 2008

Quick Guide

Financial Fix-up - Learn about a proposal to overhaul the U.S. financial system.

More News - Check out some of the stories making headlines around the world.

Autism - Unraveling the Mystery - Meet a family whose three sons have been diagnosed with autism.

Transcript

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

MONICA LLOYD, CNN STUDENT NEWS ANCHOR: This edition of CNN Student News is at the starting line and ready to go. No April Fools' Day pranks here; we're saving that for later on. Hi, everyone. I'm Monica Lloyd.

First Up: Financial Fix-up

LLOYD: First up, we're focusing on finances and a federal plan to help boost the country's economy. There's been a lot of news lately about financial concerns in the U.S. So, Treasury Secretary Henry Paulson has a proposal to help. Here's what we're talking about: the biggest overhaul of the country's financial system in 70 years! It's kind of like the government response to 9/11, when several agencies were merged into the Homeland Security Department. This plan would coordinate the efforts of a lot of the groups that work on monetary policy. One of the biggest changes would be more responsibility for the Federal Reserve. There's no word on when, or even if, this plan would take effect; Congress would have to work on that. But Elizabeth Manresa looks at why the government is making the proposal.

(BEGIN VIDEO CLIP)

ELIZABETH MANRESA, CNN REPORTER: The housing crisis, a weakening dollar and a shaky job market; news rattling the nerves of many Americans. Monday, Treasury Secretary Henry Paulson proposed a host of changes to the nation's financial system.

HENRY PAULSON, U.S. TREASURY SECRETARY: Government has a responsibility to make sure our financial system is regulated effectively. And in this area, we can do a better job.

MANRESA: The blueprint for financial regulatory reform would give more power to the Federal Reserve and would merge five oversight agencies into one. It's a sweeping regulatory overhaul unlike any in the U.S. since the Great Depression.

PAULSON: The bulk of these regulators' responses made sense at the time they were created. But as we look at today's financial markets, the lack of a comprehensive design is clear.

MANRESA: The overhaul is supposed to modernize the system and better protect consumers and investors. But if implemented, the plan won't immediately ease the financial pinch many consumers now feel. Some critics agree and say the plan doesn't do enough to reign in the banking industry.

PETER MOIRICI, ECONOMICS PROFESSOR, UNIVERSITY OF MARYLAND: The fact is the plan is just too light on the investment banks and commercial banks on Wall Street. They'll be able to continue to do as they please, and we'll likely have more crises in the future.

MANRESA: The administration plans to work with Congress to hammer out details of the plan. No word yet however on when, or if, the proposal could be enacted into law. In Washington, I'm Elizabeth Manresa for CNN Student News.

(END VIDEO CLIP)

Shoutout

NINETTE SOSA, CNN STUDENT NEWS: Time for the Shoutout! What U.S. president started the tradition of throwing out the first pitch on Major League Baseball's opening day? If you think you know it, shout it out! Was it: A) Benjamin Harrison, B) William Taft, C) Franklin Roosevelt or D) George W. Bush? You've got three seconds -- GO! William Taft was the first to toss out the ceremonial ball in 1910. Nearly every president since has taken part in the tradition.

More News

LLOYD: President Bush kept that streak alive this weekend, throwing out the first pitch in a new park for the Washington Nationals. His traditional toss helped the D.C. team open its new stadium on Sunday. And then it was on to Air Force One, as the president headed to Europe for the annual NATO meeting. It's taking place this week in Romania. But today, Mr. Bush is in the Ukraine for the start of his week-long trip. He's also scheduled to make stops in Croatia and Russia after attending the NATO summit.

And things are quieting down in parts of Baghdad, as clashes between Iraqi forces and militia fighters appear to have ended. According to the U.S. embassy, some of the violence spread into the area known as the Green Zone. That's where the headquarters for American officials is located. But Iraqi authorities say there have been no recent reports of fighting in the capital, and yesterday, they lifted a strict, city-wide curfew.

And the Olympic flame has found its way to China, the host country for this year's Summer Games. But no time to stop and smell the roses. The torch is on the move. A ceremony in Beijing's Tiananmen Square kicked off a 130-day relay, which might just be the longest in Olympic history. During Monday's celebration, one Chinese leader called the torch a symbol of "peace, friendship and progress." Next stop for the flame: Kazakhstan!

Fast Facts

SOSA: Time for some Fast Facts! Autism is a brain disorder. It's associated with a range of developmental issues, mainly involving communication and social interactions. Some symptoms include language delays, social difficulties and repetitive behaviors. The first signs of this disorder typically appear before age three. Although treatment has improved greatly in the past few decades, autism cannot be cured.

Autism - Unraveling the Mystery

LLOYD: More than 25,000 kids in the U.S. will be diagnosed with autism this year. That's more than the number of pediatric cases of diabetes, AIDS and cancer combined! It's part of the reason why the United Nations declared April 2nd the first ever World Autism Awareness Day. The goal is to educate people about this disorder, which is still somewhat of a medical mystery. Last October, the American Academy of Pediatrics set up new guidelines to help doctors catch early warning signs. Dr. Sanjay Gupta tells us about one family's struggle with autism.

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DR. SANJAY GUPTA, CNN SR. MEDICAL CORRESPONDENT: When Hunter, Nicholas and Zachary Gaston were born seven years ago, their parents were ecstatic. And for the first 18 months, the boys were typical toddlers. Then, something changed.

LYNN GASTON, TRIPLETS' MOTHER: It was almost as if a switch, somebody came to our house and turned the switch off. It was almost as if the first 18 months of their lives didn't happen.

GUPTA: Lynn noticed her sons were developing antisocial behavior that scared her. Hunter was licking the wall. Nick wouldn't speak. She went online and typed in their symptoms.

LYNN GASTON: No matter how many times I changed the symptoms around or left one or two off, it kept coming back up as autism.

GUPTA: But doctors at that time weren't coming to the same conclusion. Finally, when the boys were four, doctors confirmed all three had some variation of autism, a condition they were not familiar with.

LYNN GASTON: It's not like you can look up autism in the phone book. I couldn't go to the Yellow Pages and find a doctor, and didn't even know what doctor to go see.

GUPTA: The Centers for Disease Control has only been collecting data on autism since 2001, the year the Gaston triplets were born. And autism is difficult to diagnose. That's because the conditions and accompanying symptoms vary so widely.

DR. GARY GOLDSTEIN, PRESIDENT, KENNEDY KRIEGER INSTITUTE: We don't have an easy handle on it. In autism, we don't have a test, we don't have a biopsy, we don't have an image.

GUPTA: Although research points to genetic abnormalities in the development of autism, doctors still believe a trigger sets off autism in a child. It's the trigger that's the mystery.

GOLDSTEIN: It's a combination of being genetically vulnerable and then having some kind of social or toxicant exposure that tips you over.

RANDY GASTON, TRIPLETS' FATHER: There's something that's affecting all these children, and it's unfortunate that these families are left to their own device to find out what is going on.

GUPTA: The Gastons are committed to getting their sons the best medical care possible. Perhaps more importantly, showing their children unconditional love.

RANDY GASTON: The one thing he has to know for the rest of his life is that I did everything for him. That's what it comes down to. I did everything for you, buddy, right? Yes? Yeah, ok. You're a good boy. I love you.

GUPTA: Dr. Sanjay Gupta, CNN, reporting.

(END VIDEO CLIP)

Promo

LLOYD: To celebrate World Autism Awareness Day, we're going to be bringing you some special programming here on CNN Student News. You can tune in to tomorrow's program to see some reports on the disorder. And then head on over to our Web site, CNNStudentNews.com, where you can access our free curriculum resources.

Before We Go

LLOYD: And before we go today, Carl Azuz checks in with the kind of report you'll only see on April first!

(BEGIN VIDEO CLIP)

CARL AZUZ, CNN STUDENT NEWS: There's a new carrot in town, and it's got holes. Now, before you critics say, "I hate carrots and holes aren't gonna help," consider this: They'll whistle when you cook 'em! News of caroling carrots came out on this day in 2002.

A UFO landed in Britain! But this wasn't reported by just one person who saw fire in the sky. This object actually floated to the ground, witnessed by lots of people, and was actually approached by police! The date: March 31, 1989.

And you know that little national landmark called the Liberty Bell? It was bought by Taco Bell. The fast-food chain is gonna rename it the "Taco Liberty Bell" and sell Gorditas under the clapper. This news first broke on April 1, 1996.

What do these stories have in common? They're all hoaxes! It's part of that tradition called April Fools' Day, believed to have started around 1582, when the Gregorian Calendar moved New Year's Day to January 1st. It used to be at the end of March, so those who kept celebrating the New Year on April 1 were called April fools.

Anyway, the hoax about the holey carrots was an ad by a British supermarket. No word on how many people showed up asking for 'em. The UFO was actually a hot air balloon built by Sir Richard Branson, the Virgin Airways billionaire who loves a good joke. The story goes that when a policeman approached, a person in an alien costume stepped out of the balloon, scaring the daylights out of the cop! And the Taco Liberty Bell? Another ad that infuriated many Americans and led to Taco Bell donating $50,000 for the Liberty Bell's upkeep, not its purchase. But it did buy a few laughs, as do a lot of jokes this April Fools' Day. Carl Azuz, CNN Student News.

(END VIDEO CLIP)

Goodbye

LLOYD: That's the last laugh in today's show. Have a happy April Fools' Day, everyone. I'm Monica Lloyd. E-mail to a friend