Obama signs order activating 'dumb' spending cuts

STORY HIGHLIGHTS

• NEW: Obama signs order that is required by law


• "We will get through this," President Obama says of the forced spending cuts


• Obama, congressional leaders fail to bridge gaps on cuts, letting them take effect


• Speaker Boehner says the House will take up a government funding measure

Washington (CNN) -- Politics trumped progress on Friday as President Barack Obama and Republican leaders traded blame for $85 billion in forced spending cuts after they failed to come up with a compromise to avert the harshest impacts.

The president signed an order required by law that set in motion the automatic, government-wide cuts.

Obama and congressional leaders from both parties met for about 45 minutes at the White House, but no agreement emerged to avert the cuts that both sides oppose.

After weeks of campaign-style events intended to inspire public outrage over the cuts, Obama sought to temper his description of their impact while making clear he thinks Republican intransigence prevented a deal to avoid the economic harm they'll cause.

"We will get through this," he told reporters. "This is not going to be an apocalypse as some people have said. It's just dumb and it's going to hurt."

Full text of Obama order

Still, a White House budget office report sent to Congress and released with Obama's order said the cuts would be "deeply destructive to national security, domestic investments, and core government functions."

The action was described in the report as "a blunt and indiscriminate instrument" that was "never intended to be implemented and does not represent a responsible way" for the country to realize deficit reduction.

OMB report to Congress

In a sign of the potential impact, the Department of Justice sent furlough notices to employees that warned they may be forced to take days off without pay in coming months.

Similar furloughs, as well as reduced services, were expected at other agencies if the cuts don't get replaced or eliminated. Military leaders have warned of impaired readiness of U.S. forces.

Shame and blame: Why Washington needs couples therapy

However, the full impact of the cuts weren't expected until April at the earliest.

The cuts amount to roughly 9% for a broad range of non-defense programs and 13% for the Pentagon over the rest of the current fiscal year, which ends on September 30.

They were included in a 2011 deal to raise the federal borrowing limit as an unacceptable outcome if Congress failed to agree on a comprehensive deficit reduction plan.

Obama's press conference on spending cuts

However, election-year politics stymied progress on such a deal, leading to the situation Friday in which both sides acknowledged being unable to prevent something neither wanted.

"There are smarter ways to cut spending," said House Speaker John Boehner, R-Ohio, after the meeting with Obama.

Boehner repeated his past assertion that the GOP-led House has offered proposals to replace the forced spending cuts while the Democratic-led Senate has not, as well as his party's opposition to any increased tax revenue to offset the forced spending cuts.

Others who also took part in the White House gathering were Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell and House Minority Leader Nancy Pelosi.

In the White House briefing room, Obama told reporters that Republicans in Congress "allowed these cuts to happen because they refuse to budge on closing a single wasteful (tax) loophole to help reduce the deficit."

"As recently as yesterday, they decided to protect special interest tax breaks for the well off and the well connected and they think that that's apparently more important than protecting our military or middle class families from the pain of these cuts," Obama said.

He was referring to a procedural vote on Thursday in which Senate Republicans blocked a Democratic proposal that called for eliminating some tax loopholes as part of a package with spending cuts.

Boehner and Republicans say the president and Democrats have yet to propose a serious plan to reduce spending, including costly entitlement programs, on a scale necessary to bring chronic federal deficits and debt under control.

Both Obama and Boehner foreshadowed the next major spending showdown - a March 27 deadline for Congress to authorize funding to keep the government running for the rest of the fiscal year.

4 myths about the spending cuts

Boehner told reporters that the House will take up a measure next week to authorize federal funding beyond that deadline.

"The president and leaders agreed legislation should be enacted this month to prevent a government shutdown while we continue to work on a solution to replace the" forced spending cuts, said a statement by Boehner's office.

Although the funding measure is unconnected to the spending cuts, Obama indicated he was open to a broader agreement that would resolve both issues.

"I do know that there are Republicans in Congress who privately, at least, say that they would rather close tax loopholes then let these cuts go through," said Obama in response to questions from reporters.

"... In the coming days and the coming weeks, I'm going to keeping on reaching out to them -- both individually and as groups of senators or members of the House -- and say to them, 'Let's fix this, not just for a month or two, but for years to come,' because the greatest nation on Earth does not conduct its business in month-to-month increments or by careening from crisis to crisis," Obama said.

Spending cuts: When they'll really bite

CNN's Dana Bash, Deirdre Walsh, Ted Barrett and Terry Frieden contributed to this report.

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Fla. man presumed dead after sinkhole opens under his bed

SEFFNER, Fla. A man was missing and feared dead early Friday after a large sinkhole opened under the bedroom of a house near Tampa.

Jeff Bush is presumed dead after a sinkhole opened under his bed.

/

CBS

His brother says Jeff Bush screamed for help before he disappeared.

The 36-year-old man's brother, Jeremy Bush, told rescue crews he heard a loud crash around 11 p.m. Thursday, then heard his brother screaming for help.

"When he got there, there was no bedroom left," Hillsborough County Fire Rescue spokeswoman Jessica Damico said. "There was no furniture. All he saw was a piece of the mattress sticking up."

Jeremy Bush called 911 and frantically tried to help his brother Jeff. He said he jumped into the hole and dirt was quickly up to his neck.

"The floor was still giving in and the dirt was still going down, but I didn't care. I wanted to save my brother," Jeremy said. "But I just couldn't do nothing."

An arriving deputy pulled Jeremy Bush from the still-collapsing house.

28 Photos

Sinkholes

"I reached down and was able to actually able to get him by his hand and pull him out of the hole," Hillsborough County Sheriff's Deputy Douglas Duvall said. "The hole was collapsing. At that time, we left the house."

Engineers worked to determine the size of the sinkhole. At the surface, officials estimated it was about 30 feet across. Below the surface, officials believed it was 100 feet wide.

"The entire house is on the sinkhole," Damico said.

Hillsborough County Fire Chief Ron Rogers told a news briefing that extra-sensitive listening devices and cameras were inserted into the sinkhole. "They did not detect any signs of life," he said.

By early Friday, Hillsborough County Fire Rescue officials determined the home had become too unstable to continue rescue efforts.

Neighbors on both sides of the home have been evacuated.

Sinkholes are common in seaside Florida, whose underlying limestone and dolomite can be worn away by water and chemicals, then collapse.

Engineers condemned the house, reports CBS Tampa affiliate WTSP.

From the outside of the small, sky blue house, nothing appeared wrong. There wear no cracks and the only sign something was amiss was the yellow caution tape circling the house.

Hillsborough County Sheriff's Office spokesman Larry McKinnon said authorities asked sinkhole and engineering experts, and they were using equipment to see if the ground can support the weight of heavy machinery needed for the recovery effort.

Jeremy Bush stood in a neighbor's yard across the street from the house Friday and recounted the harrowing collapse.

"He was screaming my name. I could swear I heard him hollering my name to help him," he said of his brother Jeff.

Jeremy Bush's wife and his 2-year-old daughter were also inside the house. "She keeps asking where her Uncle Jeff is," he said. "I lost everything. I work so hard to support my wife and kid and I lost everything."

Janell Wheeler told the Tampa Bay Times newspaper she was inside the house with four other adults and a child when the sinkhole opened.

"It sounded like a car hit my house," she said.

The rest of the family went to a hotel but she stayed behind, sleeping in her car.

"I just want my nephew," she said through tears.

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Obama Signs Order to Begin Sequester Cuts

President Obama and congressional leaders today failed to reach a breakthrough to avert a sweeping package of automatic spending cuts, setting into motion $85 billion of across-the-board belt-tightening that neither had wanted to see.

President Obama officially initiated the cuts with an order to agencies Friday evening.

He had met for just over an hour at the White House Friday morning with Republican leaders House Speaker John Boehner and Senate Minority Leader Mitch McConnell and his Democratic allies, House Minority Leader Nancy Pelosi, Senate Majority Leader Harry Reid and Vice President Joe Biden.

But the parties emerged from their first face-to-face meeting of the year resigned to see the cuts take hold at midnight.

"This is not a win for anybody," Obama lamented in a statement to reporters after the meeting. "This is a loss for the American people."

READ MORE: 6 Questions (and Answers) About the Sequester

Officials have said the spending reductions immediately take effect Saturday but that the pain from reduced government services and furloughs of tens of thousands of federal employees would be felt gradually in the weeks ahead.

Sequestration Deadline: Obama Meets With Leaders Watch Video

Sequester Countdown: The Reality of Budget Cuts Watch Video

Federal agencies, including Homeland Security, the Pentagon, Internal Revenue Service and the Department of Education, have all prepared to notify employees that they will have to take one unpaid day off per week through the end of the year.

The staffing trims could slow many government services, including airport screenings, air traffic control, and law enforcement investigations and prosecutions. Spending on education programs and health services for low-income families will also get clipped.

"It is absolutely true that this is not going to precipitate the crisis" that would have been caused by the so-called fiscal cliff, Obama said. "But people are going to be hurt. The economy will not grow as quickly as it would have. Unemployment will not go down as quickly as it would have. And there are lives behind that. And it's real."

The sticking point in the debate over the automatic cuts -- known as sequester -- has remained the same between the parties for more than a year since the cuts were first proposed: whether to include more new tax revenue in a broad deficit reduction plan.

The White House insists there must be higher tax revenue, through elimination of tax loopholes and deductions that benefit wealthier Americans and corporations. Republicans seek an approach of spending cuts only, with an emphasis on entitlement programs. It's a deep divide that both sides have proven unable to bridge.

"This discussion about revenue, in my view, is over," Boehner told reporters after the meeting. "It's about taking on the spending problem here in Washington."

Boehner: No New Taxes to Avert Sequester

Boehner says any elimination of tax loopholes or deductions should be part of a broader tax code overhaul aimed at lowering rates overall, not to offset spending cuts in the sequester.

Obama countered today that he's willing to "take on the problem where it exists, on entitlements, and do some things that my own party doesn't like."

But he says Republicans must be willing to eliminate some tax loopholes as part of a deal.

"They refuse to budge on closing a single wasteful loophole to help reduce the deficit," Obama said. "We can and must replace these cuts with a more balanced approach that asks something from everybody."

Can anything more be done by either side to reach a middle ground?

The president today claimed he's done all he can. "I am not a dictator, I'm the president," Obama said.

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Why Syria war is everybody's problem

Syrians search for survivors and bodies after the Syrian regime attacked the city of Aleppo with missiles on February 23.

STORY HIGHLIGHTS

• Frida Ghitis: We are standing by as Syria rips itself apart, thinking it's not our problem


• Beyond the tragedy in human terms, she says, the war damages global stability


• Ghitis: Syria getting more and more radical, jeopardizing forces of democracy


• Ghitis: Peace counts on moderates, whom we must back with diplomacy, training arms

Editor's note: Frida Ghitis is a world affairs columnist for The Miami Herald and World Politics Review. A former CNN producer and correspondent, she is the author of "The End of Revolution: A Changing World in the Age of Live Television." Follow her on Twitter: @FridaGColumns

(CNN) -- Last week, a huge explosion rocked the Syrian capital of Damascus, killing more than 50 people and injuring hundreds. The victims of the blast in a busy downtown street were mostly civilians, including schoolchildren. Each side in the Syrian civil war blamed the other.

In the northern city of Aleppo, about 58 people -- 36 of them children -- died in a missile attack last week. Washington condemned the regime of Bashar al-Assad; the world looked at the awful images and moved on.

Syria is ripping itself to pieces. The extent of human suffering is beyond comprehension. That alone should be reason enough to encourage a determined effort to bring this conflict to a quick resolution. But if humanitarian reasons were not enough, the international community -- including the U.S. and its allies -- should weigh the potential implications of allowing this calamity to continue.

Frida Ghitis

We've all heard the argument: It's not our problem. We're not the world's policeman. We would only make it worse.

This is not a plea to send American or European troops to fight in this conflict. Nobody wants that.

But before we allow this mostly hands-off approach to continue, we would do well to consider the potential toll of continuing with a failed policy, one that has focused in vain over the past two years searching for a diplomatic solution.

U. S. Secretary of State John Kerry has just announced that the U.S. will provide an additional $60 million in non-lethal assistance to the opposition. He has hinted that President Obama, after rejecting suggestions from the CIA and previous Secretary of State Hillary Clinton to arm Syrian rebels, might be ready to change course. And not a day too soon.

The war is taking longer than anyone expected. The longer it lasts, the more Syria is radicalized and the region is destabilized.

If you think the Syrian war is the concern of Syrians alone, think about other countries that have torn themselves apart over a long time. Consider Lebanon, Afghanistan or Somalia; each with unique circumstances, but with one thing in common: Their wars created enormous suffering at home, and the destructiveness eventually spilled beyond their borders. All of those wars triggered lengthy, costly refugee crises. They all spawned international terrorism and eventually direct international -- including U.S. -- intervention.

The uprising against al-Assad started two years ago in the spirit of what was then referred to -- without a hint of irony -- as the Arab Spring. Young Syrians marched, chanting for freedom and democracy. The ideals of equality, rule of law and human rights wafted in the air.

Al-Assad responded to peaceful protests with gunfire. Syrians started dying by the hundreds each day. Gradually the nonviolent protesters started fighting back. Members of the Syrian army started defecting.

The opposition's Free Syrian Army came together. Factions within the Syrian opposition took up arms and the political contest became a brutal civil war. The death toll has climbed to as many as 90,000, according to Kerry. About 2 million people have left their homes, and the killing continues with no end in sight.

In fairness to Washington, Europe and the rest of the international community, there were never easy choices in this war. Opposition leaders bickered, and their clashing views scared away would-be supporters. Western nations rejected the idea of arming the opposition, saying Syria already has too many weapons. They were also concerned about who would control the weaponry, including an existing arsenal of chemical and biological weapons, after al-Assad's fall.

These are all legitimate concerns. But inaction is producing the worst possible outcome.

The moderates, whose views most closely align with the West, are losing out to the better-armed Islamists and, especially, to the extremists. Moderates are losing the ideological debate and the battle for the future character of a Syria after al-Assad.

Radical Islamist groups have taken the lead. Young people are losing faith in moderation, lured by disciplined, devout extremists. Reporters on the ground have seen young democracy advocates turn into fervent supporters of dangerous groups such as the Nusra Front, which has scored impressive victories.

The U.S. State Department recently listed the Nusra Front, which has close ties to al Qaeda in Iraq and a strong anti-Western ideology, as a terrorist organization.

Meantime, countries bordering Syria are experiencing repercussions. And these are likely to become more dangerous.

Jordan, an important American ally, is struggling with a flood of refugees, as many as 10,000 each week since the start of the year. The government estimates 380,000 Syrians are in Jordan, a country whose government is under pressure from its own restive population and still dealing with huge refugee populations from other wars.

Turkey is also burdened with hundreds of thousands of refugees and occasional Syrian fire. Israel has warned about chemical weapons transfers from al-Assad to Hezbollah in Lebanon and may have already fired on a Syrian convoy attempting the move.

Lebanon, always perched precariously on the edge of crisis, lives with growing fears that Syria's war will enter its borders. Despite denials, there is evidence that Lebanon's Hezbollah, a close ally of al-Assad and of Iran, has joined the fighting on the side of the Syrian president. The Free Syrian Army has threatened to attack Hezbollah in Lebanon if it doesn't leave Syria.

The possible outcomes in Syria include the emergence of a failed state, stirring unrest throughout the region. If al-Assad wins, Syria will become an even more repressive country.

Al-Assad's survival would fortify Iran and Hezbollah and other anti-Western forces. If the extremists inside the opposition win, Syria could see factional fighting for many years, followed by anti-democratic, anti-Western policies.

The only good outcome is victory for the opposition's moderate forces. They may not be easy to identify with complete certainty. But to the extent that it is possible, these forces need Western support.

They need training, funding, careful arming and strong political and diplomatic backing. The people of Syria should know that support for human rights, democracy and pluralism will lead toward a peaceful, prosperous future.

Democratic nations should not avert their eyes from the killings in Syria which are, after all, a warning to the world.

Follow us on Twitter @CNNOpinion.

Join us on Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Frida Ghitis.

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Shark fin-hungry China drives "chaotic" fishing in Indonesia

BENOA, Indonesia: Dozens of weary Indonesian fishermen sail into a busy port on the resort island of Bali celebrating their lucrative and controversial haul that is destined to end up at Chinese banquets.

The fishermen show off about 100 shark fins, already sliced off the carcasses, that are ready to be sold to middle-men and then most likely onwards to mainland China or cities around the world with big Chinese populations.

"We don't only look for sharks -- we mainly catch tuna and marlin -- but finding sharks is a good bonus. Their fins are worth a lot and the meat is easy to sell locally," said 33-year-old Warsito, who goes by one name.

Fishermen around Bali sell shark fins fresh off the boat for between US$15 and US$50, helping to satiate an ancient but fast-growing Chinese appetite for soup in which it is the main ingredient.

Shark fin soup was once a delicacy for China's elite, but shark populations have been decimated around the world as the country's 1.3 billion people have grown wealthier and incorporated it into their festivities.

While the Chinese government has banned shark fin soup from state banquets, and some five-star restaurants in Hong Kong and Singapore have dropped it from their menus, a burgeoning middle class in China continues to stoke demand.

Humans kill about 100 million sharks each year, mostly for their fins, according to the UN Food and Agriculture Organisation (FAO), and conservationists are warning that dozens of species are under threat.

Ninety percent of the world's sharks have disappeared over the past 100 years, mostly because of overfishing in countries such as Indonesia, the FAO said.

Conservationists also point out that "finning" -- slicing the valuable fins from live sharks -- is simply inhumane, as the rest of the animal is typically dumped back into the ocean where it bleeds slowly to death.

How to save the shark will be a top concern at the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) that begins in Bangkok, Thailand, on Sunday.

World authorities will look at restricting trade of certain shark species.

Restrictions would apply to manta rays and five shark species -- the porbeagle, scalloped hammerhead, great hammerhead, smooth hammerhead and oceanic whitetip -- and must be approved by two-thirds of member states.

However, experts say laws to restrict trade will mean little unless there are total bans on fishing, with greater efforts needed to control unregulated fisheries.

Indonesia is particularly important because it is the world's biggest fisher and exporter of sharks, with thousands of small-time fishermen such as those in Bali able to operate with impunity.

Management of the Indonesian industry has been "total chaos", Conservation International Indonesia marine programme director Tiene Gunawan said, with no national restrictions on the trade.

In 2010, the Indonesian government designed a national plan of action to better manage the shark fishing industry, but it has so far issued no regulations.

Rampant shark fishing has already affected ecosystems in Indonesian waters, Gunawan said, including the world-famous diving spot Raja Amapat in the region of Papua.

However recent efforts by the provincial authorities there -- emanating from a recognition that there is greater economic benefit in maintaining shark populations -- could be a model for the future.

After authorities in Raja Ampat noticed a surge in boats carrying hundreds of shark fins but no carcasses, the local government banned shark fishing in 2010.

Last week the ban was made into law, creating the country's only shark and manta ray sanctuary. It is also the first in the Coral Triangle, a massive region in Southeast Asia known as the "Amazon of the ocean".

"What they realised, and our studies support this, is that the value of a dead shark is much lower than if we keep it alive for tourism," Gunawan said.

-AFP/fl

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Man charged in slaying of Miss. mayoral candidate

Updated 8:13 PM ET

JACKSON, Miss. A 22-year-old man was charged with murder Thursday in the death of a mayoral candidate in the Mississippi Delta.

The Coahoma County Sheriff's Department said in a news release that Lawrence Reed of Shelby was charged in the death of Marco McMillian. McMillian, 34, was a candidate for mayor of Clarksdale and was well-known in the community and beyond.

An investigation began Tuesday when a man crashed McMillian's SUV into another car on U.S. Highway 49 near the Coahoma and Tallahatchie county lines. The candidate wasn't in the car.

McMillian's body was found near the Mississippi River levee Wednesday morning between Sherard and Rena Lara, Coahoma County Coroner Scotty Meredith has said.

The body was sent for an autopsy, and the cause of death hasn't been made public.

"There's a lot of people upset about it," said Dennis Thomas, 33, who works at Abe's Barbeque.

"Why would somebody want to do something like that to somebody of that caliber? He was a highly respected person in town," Thomas said.

The Gay & Lesbian Victory Fund and Institute tweeted:

The sheriff's department has not released a possible motive for the crime.

Campaign spokesman Jarod Keith has said McMillian's campaign was noteworthy because he may have been the first openly gay man to be a viable candidate for public office in Mississippi.

McMillian, who was black, had forged ties while serving for four years as international executive director of the historically black Phi Beta Sigma Fraternity Inc. Photos on McMillian's website and Facebook page show him with a younger Barack Obama, former President Bill Clinton and with U.S. Rep. John Lewis, a Georgia Democrat.

McMillian was CEO of MWM & Associates, described on its website as a consulting firm for nonprofit organizations. In addition to his role at the fraternity from 2007 to 2011, McMillian had previously worked to raise funds as executive assistant to the president at Alabama A&M University and as assistant to the vice president at Jackson State University, according to his campaign.

A statement from the fraternity said he had secured the first federal contract to raise awareness about the impact of HIV and AIDS on communities of color. It noted that Ebony Magazine had recognized him in 2004 as one of the nation's "30 up-and-coming African Americans" under age 30.

Supporters say McMillian — a 1997 graduate of Clarksdale High School who graduated magna cum laude from Jackson State and held a master's degree from St. Mary's University in Minnesota in philanthropy and development — had big ideas for Clarksdale, a town of about 17,800 people.

The town is well known to blues fans as the home of the crossroads, where Robert Johnson is said to have sold his soul to the devil for skills with a guitar. Academy Award-winning actor and Mississippi native Morgan Freeman is part owner of the Ground Zero Blues Club in town. Clarksdale also is hounded by the poverty typical of the Mississippi Delta.

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Arias Recounts Each Moment of Stabbing, Slashing

Accused murderer Jodi Arias was forced to recount today each detail of how she killed her ex-boyfriend, Travis Alexander, including re-enacting how he allegedly tackled her when she shot him, leaving her crying in her hands on the witness stand.

During hours of dramatic cross-examination by prosecutor Juan Martinez, Arias bawled as he asked her about stabbing, slashing and shooting Alexander on June 4, 2008.

"You would acknowledge that Mr. Alexander was stabbed, and that the stabbing was with the knife, and it was after the shooting according to you, right?" Martinez said in rapid succession.

"Yes, I don't remember," Arias said, covering her face with her hands.

"Do you acknowledge the stab wounds, and we can count them together, were to the back of the head and the torso?" Martinez said, flashing a photo of Alexander's bloodied body onto the courtroom projector. " Do you want to take a look at the photo?"

Arias, burying her face in her hands and shutting her eyes on the stand, mumbled, "No."

Alexander's sisters, seated in the front row of the gallery, also looked away, crying.

Arias, 32, is accused of killing Alexander on June 4, 2008 out of jealousy. He was stabbed 27 times, his throat was slashed and he was shot in the head twice.

Arias claims she killed in self-defense after Alexander had become increasingly violent with her. She could face the death penalty if convicted.

Martinez also forced Arias to demonstrate in court today how she claims Alexander lunged at her "like a linebacker," causing her to fire the gun at him. The pair argued over how exactly Alexander was positioned, and Martinez pushed her to explain what she meant.

"He lunges at me like a linebacker," Arias said.

"Like a linebacker, what does that mean?" Martinez asked.

Jodi Arias Under Attack in Third Day of Cross-Examination Watch Video

Jodi Arias, Prosecutor Butt Heads in Cross-Examination Watch Video

Jodi Arias Maintains She 'Felt Like a Prostitute' Watch Video

"He was low. It was almost like he dove," she said, and trying to explain it further, added, "He was like a linebacker is the only way I can describe it unless I get up to act it out which I'd rather not do."

Catching Up on the Trial? Check Out ABC News' Jodi Arias Trial Coverage

Timeline of the Jodi Arias Trial

"Go ahead and do it," Martinez said. "Just stand. Go ahead."

Judge Sherry Stephens initially cleared the court as Arias demonstrated and then Martinez had her do it again after the jury and spectators were allowed back into the courtroom.

Standing and moving away from the witness box, Arias bent at the waist and spread out her arms and meekly made a slight lunging motion.

According to her testimony, Arias fired the gun as Alexander rushed at her, tackling her to the ground. She said she does not remember how she stabbed or slashed him.

It was a day of dramatics and anger as the prosecution pressed Arias on the details of the killing, with Martinez ending the afternoon of questioning by accusing Arias of lying throughout her direct testimony.

At one point Arias dissolved into tears, unable to answer pointed questions when shown a photo of Alexander's body lying crumpled in the bottom of the stall shower.

After a short pause, Martinez asked dryly, "Were you crying when you were shooting him?"

"I don't remember," Arias moaned.

"Were you crying when you stabbed him?" he said. "How about when you slashed his throat?"

"I don't remember, I don't know."

Martinez pressed on, "You're the one that did this right? And lied about all this right?"

"Yes."

"So then take a look at it," he barked.

Arias did not answer Martinez's question, crying into her hands instead. The judge, after a moment, called for the lunch recess to take a break from the testimony. Arias' attorney walked over and consoled her, telling her to "take a moment."

Until that moment, Arias had given vague answers to Martinez as he asked about the hours leading up to the murder. Arias, 32, has testified that she drove to Alexander's house on June 4, 2008, for a sexual liaison, that she had sex with Alexander and the pair took nude photos before an explosive confrontation ended with her killing him. She claims she doesn't remember stabbing Alexander, but insists it was in self-defense.

Martinez questioned her claims, asking exactly what they argued about and who encouraged whom to take the nude photos. He pointed out that Arias told Detective Esteban Flores of the Mesa police department that she had to convince Alexander to take the nude photos in the shower, but that she testified on the stand that Alexander had wanted them.

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Election puts Italy on financial high-wire

Prime Minister Silvio Berlusconi delivers a speech during a campaign rally in Rome on January 25, 2013.

STORY HIGHLIGHTS

• Brilliant minds are still trying to figure out the financial impact of Italy's election


• The lack of certainty is seen as a negative for Italy -- and the eurozone


• Instability could reignite the eurozone crisis


• But it depends on what deal will be done, and how the markets will respond

Editor's note: Louise Cooper is a financial blogger and commentator who regularly appears on television, radio and in print. She started her career at Goldman Sachs as a European equity institutional sales person and then become a financial and business journalist. She now writes CooperCity.

London (CNN) -- Brilliant minds across the financial world are still trying to work out the implications of the Italian election result.

For the time being, the best answer is that it is probably too soon to tell. After Tuesday's falls, a little stability has returned to markets, possibly because everyone is still trying to work out what to think.

Credit ratings agency Moody's has warned the election result is negative for Italy -- and also negative for other indebted eurozone states. It fears political uncertainty will continue and warns of a "deterioration in the country's economic prospects or difficulties in implementing reform," the agency said.

For the rest of the eurozone, the result risks "reigniting the euro debt crisis." Madrid must be looking to Italy with trepidation. If investors decide that Italy is looking risky again and back off from buying its debt, then Spain will be drawn into the firing line too.

Can the anti-Berlusconi save Italy?

Louise Cooper, of Cooper City

Standard & Poor's stated that Italy's rating was not immediately affected by the election but I think the key part of that sentence is "not immediately."

At the same time Herman Van Rompuy's tweets give an indication of the view from Brussels: "We must respect the outcome of democratic elections in Italy," his feed noted.

Really? That's a first. The democratically elected Silvio Berlusconi was forced out when he failed to follow through with austerity after the European Central Bank helped Italy by buying its debt in autumn 2011.

"It is now up to Italian political leaders to assume responsibility, compromise and form a stable government," Van Rompuy tweeted.

Did he see the results? The newcomer and anti-establishment comedian Beppe Grillo refuses to do a deal and yet he is the natural kingmaker, polling at 25%.

"Nor for Italy is there a real alternative to continuing fiscal consolidations and reforms," he continued.

Economically yes, but the Italian electorate disagree. And for the time being, Italy has a democracy (of sorts).

Finally: "I am confident that Italy will remain a stable member of the eurozone."

He hopes...

The key to whether the crisis reignites is whether investors begin to back away from lending to Italy. If so, this will be the big test of the ECB's resolve to save the euro.

Read more: Euro crisis coverage

The key thing to look at is Italian bonds, because if borrowing costs rise from 4.8% for 10-year money currently to nearer 6%, then Italy will start to find it too expensive to borrow.

The trillion euro question is if the ECB will step in to help even if it cannot get the reforms and austerity it demands (because of the political situation). That is the crux of the matter. And there will be many in the city today pondering that question.

Clearly in financial markets, taking on a central bank is a dangerous thing to do. Soros may have broken the Bank of England on Black Wednesday 1992, making billions by forcing sterling out of the EMU, but that was a long time ago.

Italy avoids panic at bond auction

What we have learnt from this crisis is not to "fight the Fed" (or the ECB). Last summer, the ECB's chief Mario Draghi put a line in the sand with his "whatever it takes" (to save the euro) speech.

But as part of that commitment he stressed time and time again that any new help from the ECB comes with conditions attached. And those conditions are what have proven so unpalatable to the Italians -- austerity and reform.

So we have two implacable objects hurtling towards each other. The political mess of Italy and the electorate's dislike of austerity and reform (incumbent technocrat Mario Monti only polled 10%).

So what happens next? The status quo can continue if Italian borrowing costs do not rise from here and therefore Italy does not need ECB help.

If markets continue to believe in Draghi and Brussels that the euro is "irreversible," then investors will continue to lend to Italy. Yes, markets will be jittery and fearful, but Italy will eventually sort itself out politically.

The big advantage for Italy is although it has a lot of debt, it is not creating debt quickly (like Greece, Spain or even the UK). And as I said yesterday on my CooperCity blog, the positive outcome from all this could be that Brussels backs off from austerity, which would be a good thing.

However, the basic rule of finance is that high risk comes with high return. Soros took a huge gamble against the British central bank but it reportedly made him a billionaire overnight.

There must be a few hedge funders looking at the Italian situation with similar greed in their eyes. If he wants to save the euro, it is time for Mario Draghi to put the fear of God back into such hearts.

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Yvonne Lim: Making time for love

SINGAPORE: Her eyes glistened with tears when Singapore actress Yvonne Lim spoke about her character Liu Xixi in the upcoming drama "Marry Me", during a recent media event.

In the show, Liu, a successful gynecologist, winds up getting dumped by her boyfriend of 20 years, after she spent too much time on her career and neglected their relationship.

Lim revealed that she became emotional as her character's painful experiences in "Marry Me" reminded her of own.

"I have all these experiences before."

"I spend so much of my time on my work that I end up spending very little time dealing with matters of the heart," said Lim, explaining that she once broke up with a guy over the same issue.

"I remember I was very emotional when I read the script."

"I know how this character feels, why she struggles with her feelings, and why she is in pain, but keeps it bottled up inside."

Lim expressed that Liu is a character many women can identify with, because what happens to her in the show is something that also occurs in real life.

"She is so dedicated to her work that she forgot about her love life and kind of took it for granted.

"I've seen that happen to my girl friends. I have seen that happen to other people. I've heard stories like that before."

"When things drag on for too long, it (the relationship) gets stagnant. That's when things happen," said Lim earnestly.

Still, Lim said she prefers to take her time to slowly get to know someone instead of rushing things, and said she believes in "letting nature take its course".

"You have to find the right partner who is willing to be with you.

"If it happens, it happens. If not, that's the way it is," said Lim with a smile.

"I don't think about it much, though there is still this part of me that hopes for a fairytale ending."

"Marry Me", which also stars Koh Ya Hui and Jesseca Liu, airs every Wednesday, Thursday and Friday, 8pm on Channel U.

-CNA/ha

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