Here's the problem for the Texas governor after his awful fifth-place showing in Iowa, as the specter of his first defeat has come into focus: He does not really know how to lose. 

Despite a disappointing finish in the Iowa caucuses that led Rick Perry to say he was returning home to Texas to reassess his candidacy, the Texas governor surprised everyone by announcing this morning that he would stay in the race. 

In a new ad airing in Iowa just eleven days before the first-in-the-nation caucuses, decorated veterans praise Rick Perry and promote his presidential candidacy.

Gov. Rick Perry has sparked a wave of criticism, and some unanswered questions, after filing paperwork this week revealing that he is collecting both a salary and a pension from the state of Texas. Critics say there are rules designed to prevent such arrangements. Perry and his aides say its perfectly legal.