all of us. we discuss what needs to be done with the president and we will continue to talk about these in greater detail. iraq was also another area of discussion for us on regional issues. transparent elections in iraq and the participation of -- ensuring the participation of all groups in the elections are both very important in iraq. with everyone's participation, we would like to see a peaceful period in iraq and this is what both we and the united states would like to see. with respect to the middle east peace process, we discussed with the president this important issue, which is very important for regional peace. one was taking humanitarian aid to gaza, american citizens and

turkish citizen were killed and we are working on compensation for those who lost their lives. and the visits i will pay to gaza will contribute to the peace in gaza and to unity in palestine in my opinion. the turkish republic of northern cyprus is always in favor of -- in cyprus we believe there is a lot of opportunity to reach an agreement on the cyprus issue. and this is an area which we continue to focus on. we have also discussed iran, afghanistan, and all of these issues. and we have also briefly touched -- >> welcome to power lunch. we are listening right flnow to the white house joint news conference. as soon as the question and answer session begins we will go back to that. but i am joined by my colleagues

and partners. and john, i would like to start with you, if i could. i know that the president said that both he and the turkish prescribe agree that assad has to go, but was there anything in the language that indicated a ratcheting up of plans, perhaps, to take some action to get assad out of syria? >> if it was it was very knew answ -- nuanseed. something they want to see brought to a close as soon as possible. but i didn't hear anything to suggest that the president was getting ready to give the prescribe what he wants in terms of a much more aggressive u.s. role. you did hear the president having addressed yesterday all three of the controversies facing him. the ap phone records, the

benghazi and the irs. he put pressure on congress. >> forgive me for interrupting. we're going to go back now and listen to the q&a session. >> when they did, do you think you should have learned about it before you learned about it from news reporters as you said last friday? and also are you opposed to there being a special council appointed to lead the justice department investigation. and mr. prime minister, what is the status on efforts to norm allize relations with israel and do you still plan to go to gaza? >> with respect to the irs, i spoke to this yesterday. my main concern is fixing a problem. we began that process yesterday by asking and accepting the resignation of the acting director there. we will be putting in new

leadership that will be able to make sure that following up on the ig audit, that we gather up all the facts and hold accountable those who have taken these outrageous actions. it is just simply unacceptable for there to even be a hint of partisanship or ideology when it comes to the application of our tax plaulaws. why don't we get a couple of marines. they're going to look good next to us. i have got a change of suits but i don't know about our prime minister. there we go. that's good. you guys, i'm sorry. but, let me -- let me make sure that i answer your specific question. i can assure you that i

certainly did not know anything about the ig report before the ig report had been leaked through press -- through the press. typically the ig reports are not supposed to be widely distributed or shared. they tend to be a process that everybody is trying to protect the integrity of. but what i'm absolutely certain of is that the actions that were described in that ig report are unacceptable. in addition to making sure that we have got a new acting director there, we are also going to make sure that we gather up the facts and hold accountable and responsible anybody who was involved in this. we're going to make sure that we identify any structural or management issues to prevent something like this from happening again we're going to

make sure that we are accepting all of the recommendations the ig has in the report and i'm looking forward to working with congress to fully vugt what happened, make sure that it doesn't happen again and also look at some of the laws that create a bunch of ambiguity where the irs might not be clear about what exactly they need to be doing and doing it right so that the american people have confidence that the tax laws are being applied fairly and evenly. in terms of the white house and reporting, i think that you have gotten that information from many others. i promise you the minute i found

out about it that my main focus is making sure that we get the thing fixed. i think it's going to be sufficient for us to be working with congress. they have got a whole bunch of committees. we have got igs already there. it is now going be recommending an investigation. attorney general holder also announced a criminal investigation of what happened. between those investigations i think we will be able to figure out exactly what happened, who was involved, what went wrong, and we're going to be able to implement steps to fix it. i understand that behave gwe han thaegs has enormous potential power that is involved in everybody's lives. that's part of the reason why it's been treated as a

quasi-independent institution. but that is also why we have got to make sure it is doing its job scrupulously and without a hint of bias or a hint that somehow they are favoring one group over another. as i said yesterday, i am outraged in part by this because i am a public figure. if a future administration is starting to use the tax laws to favor one party over another or one political view over another, obviously we're all vulnerable. it doesn't matter if you're a democrat or a republican, you should be equally outraged at even the prospect. that the government may not be acting with the complete neutrality that we would expect.

i think we will be able to fix it. we will keep on going until it's finished. >> tro . >> we have been listening into president obama answering reporter's questions concerning the irs scandal. john harwood, tyler, john, handicap what we heard from the president? >> we just heard that he doesn't think we need a special prosecutors. republicans have in the next phase of their response have called for a special prosecutor to look into what happened the

president said that the jcriminl investigation that the justice department has started, that we don't need that. certainly past administrations when they have appointed special councils or prosecutors have often found them a burden later on because they extend for a very long time. >> do you expect that people on the gop side who have been raising those concerns and calling for a special council or a special prosecutor will cease and desist on that? >> i absolutely don't think they will cease and desist but the president is try fog say that by all the actions i have taken including firing the active irs commissioner and his boss is gone, having been appointed, served a five-year term and left office. i think the president drew that

line there and i would not expect him to waiver. >> the turkish prescribe has been asked about syria and the use of chemical weapons. the president in the past has said that that would be the red line, the line in the sand. then we had some indication that perhaps small scale chemical weapons had been used in syria. it will be interesting to see how the president responds to this question and whether or not he is any clearer about how far that line has been crossed. let's listen to the president. >> our militaries are constantly sharing information. we have seen evidence of the use of chemical weapons inside of syria. it is important for us to make sure that we're able to get more

specific information about what exactly is happening here. we know that tens of thousands of people are being killed with artillery and mortars. by ids. to prompt strong international action. i spoke about the humanitarian efforts. to strengthen the so that it is representative of all the people inside of syria. the steps that we need to take to strengthen the capacity. the opposition on the ground fighting to protect themselves from the assad regime and that we continue to try to mobilize the entire international community to put more and more pressure on assad, so that he recognizes that he is no longer

legitimate and that he needs to go and we are able to move to a political transition in which the institutions inside of syria are still functioning but we have a representative multiethnic and multi-religious body that can bring about democracy and peace inside of syria. i have said the use of chemical weapons are something that the civilized war has recognized should be out of use. and as we gather more evidence and work together, my intention is to make sure that we are presenting everything that we know to the international community as an additional reason and mechanism for the international community to put

all the pressure that they can on the assad regime. there are a whole range of options that the united states is already engaged in, and i preserve the options of taking additional steps both diplomatic and military, because those chemical weapons inside of syria also threaten our security over the long term as well as our aliali -- allies, friends and neighbors. this is an international problem and will continue to work with all the various parties including turkey to find a solution that brings peace to syria, stabilizes the region and the chemical weapons. but it's not going to be something that the united states does by itself. and i don't think anybody in the region including the prime minister would think that u.s.

unilateral actions in and of themselves would bring a better outcome inside of syria. jeff mason? >> thank you, mr. president. i would like to ask you about the justice department. do you believe that the seizure of phone records from ap this week was an overreach? more broadly, how do you feel about comparisons by some of your critics of this week's scandals to those that happened under the nixon administration? >> i will let you guys engage in those comparisons. you can go ahead and read the history, i think, and draw your own conclusions. my concern is making sure if there is a problem in the government, that we fix it. that's my responsibility. and that's what we're going to do. that's true with respect to the

irs and making sure that they apply the laws the way they were intended. that's true with respect to the security of our diplomats, which is why we're going to need to work with congress to make sure there is adequate funding for what is necessary out there. with respect to the department of justice, i'm not going to comment on a specific and pending case. but i will -- i can talk broadly about the balance that we have to strike. you know, leaks related to national security can put people at risk. they can put men and women in uniform that i have sent into the battlefield at risk. they can put some of our intelligence officers who are in various dangerous situations that are easily compromised at

risk. u.s. national security is dependent on those folks being able to operate with confidence that folks back home have their backs so they're not just left out there high and dry. and potentially put in even more danger than they may already be. and so, i make no apologies and i don't think the american people would expect me as commander in chief not to be concerned about information that might compromise their missions or might get them killed. the flip side of it is we're living in a democracy where a free press, free expression and the open flow of information helps hold me accountable, helps hold our government accountable and helps our democracy function. and you know, the whole reason i got involved in politics is

because i believe so deeply in that democracy and that process. so, you know, the whole goal of this media shield law that was worked on and largely endorsed like folks from the washington post editorial page and by prosecutors was finding a way to strike that balance appropriately. and to the extent that this case, which we still don't know all the details of, to the extent that this case has prompted renewed interest about how do we strike that balance properly, then i think now is the time for us to go ahead and revisit that legislation. i think that's a worthy conversation to have. i think that's important. i also think it's important to recognize that, you know, when

we express concern about leaks at a time that i have still got 60,000 plus troops in afghanistan and i have got a whole bunch of intelligence officers around the world who are in risky situations in outposts. in some cases it is as dangerous as the outpost in benghazi, that part of my job is to make sure we are protecting what they do. while still accommodating for the need for information. so -- or the need for the public to be informed. >> i wanted to ask you, sir, if the united states does not step up its involvement in syria -- >> we're going to break away as a question is posed to the prescribe of turkey and bring back john harwood and sue .

the question about subpoenaing of phone records was a very nuanced one, where he was trying deliberately to strike a very careful balance between the need to plug leaks on the one hand and therefore protect american personnel in sensitive positions and at the same time be respectful of the first amendment and the role of the press in holding the government accountab accountable. he wasn't really backing away or condemning the idea that these phone records were subpoenaed. >> he absolutely wasn't. i talked in the last couple days with senior administration officials who said he wanted to look for an opportunity not to talk about the specific case involving the ap because the president doesn't want to talk about an ongoing case but to address his philosophy. you had a response to all of those people out there including

some in our business who say this is chilling and creepy and harmful to the first amendment. he cast it in the cloak of i'm protecting our fighting men and women against the risk that they will be killed because of some leak tips off our enemies. so he cast it in the most favorable light also so that he was also someone who valued politics and got into politics because he valued the diversity of voices and wanted to speak up himself. trying to indicate that he shares that balance but as you said, he wasn't backing away or distancing himself from that specific case or from holder. i don't think he has addressed does he have full confidence in holder. i would expect him to say yes i do. >> he did just say that. he absolutely did. i was going to ask you that question but the president did just address it. let's listen into the president again. >> the question is how and when. is there a rough timetable?

will we be talking about the sirrisi syr syrian tragedy at this time? >> before you departure you stated that you had expectations from this visit and that you have some expectations. what is your general observation about this visit? >> we would have preferred assad go two years ago. last year, six months ago, two months ago. assad lost legitimacy bhwhen he started firing on his own people and killing his own people who were initially protesting peacefully for a greater voice in their country's affairs.

obviously that has escalated during the course of time. so, the answer is the sooner the better. in terms of the question how, i think we have already discussed that. there is no magic formula for dealing with an extraordinarily violent and difficult situation like syria's. if there was, i think the prime minister and i would have already acted on it and it would already be finished. instead we have to apply steady international pressure, strengthen the opposition. i do think that the prospect of talks in geneva involving the russians and representatives about a serious political transition that all the parties can buy into may yield results, but in the meantime, we're going to continue to make sure that

we're helping the opposition and obviously dealing with the humanitarian situation and we will do so in close consultation with turkey, which is obviously deeply invested in this and with whom we have got an outstanding relationship with. >> all right. let me ask john harwood to step into the conversation once again. john, this is the second time that the president when asked about syria, may even be the third time has indicated it is an international problem. he is looking for help from our allies. he just mentioned the russians, yet russia has been very reluctant to lend a hand in this situation and u.s. russian relations are not the warmest kind. how does the president convince the russians to come to the table in geneva and work to strengthen the opposition or pressure assad? >> i don't know how possible that is. they have been trying. i think fundamentally what you

have been seeing happen in front of us is a president trying to buy time. he set a red line. clearly he did not want to be very forward leaning on getting the u.s. involved in syria but at a time when he was getting some flak from that from conservatives, he said well, if they do cross this line, then that's going to be a game changer. we think that has happened but the president is now facing up to what caused him to be reluctant in the first place. this is a very controversial decision. the american people are tired after having been through iraq and afghanistan. the president is trying to figure out ways to string it out. he first said when the red line was crossed and evidence was that syria had used chemical weapons. he said we need to gather more of the facts. he is also saying well, we're gathering facts but we can't do

this unilaterally. we need international support. another means of delaying some sort of response. and the challenge, the problem for him in foreign policy is if you declare a red line has been crossed and then it gets crossed, you have got to do something so american credibility is on the line. >> i think you used the operative word there and that is multinational response to whatever the facts turn out to be in this. and that was the word that he kept using. it would not be a unilateral response in syria on the part of the united states. let me try to string together not just syria but the variety of other scandals. it has not been a good week for this white house. >> not by a long shot. >> this is starting to feel like a very pivotal moment in the second term of barack obama as president. is his second term really at stake here in how these variety of issues including syria play out? >> as the president -- the

president is leaving now, i should point out. maybe you can't see that. >> no, i can't see that. i'm glad you told me. tyler, i think we have to be careful into taking any particular bad moment, bad day, bad week and being too definitive about what it means for the rest of his agenda. he has still got an immigration bill which is making progress on the hill. democrats and republicans working together. still has the possibility for a budget deal. he is working his administration to implement the health care law. the economy is getting somewhat better. having said that, though, the longer a president is in office, the more controversies you accumulate and have to respond to. what they decided to do after the ig report came out on the irs early in the week, they decided to take a big swing at all of the problems and try to respond forcefully across the board and the president has got to hope that they can pivot and get back to the elements on his agenda including the economy and

job creation. >> as always, you're a trooper. thank you so much. when we come back on power lunch, not only are we watching the markets, the president may want to put that scandal behind him but there is a big hearing about the irs scandal tomorrow. we will talk to two congress people from both sides of the aisle. they will be taking part in the questioning. we will find out what they want to know when power lunch comes back. s we used to live with a bear.

[growl] we'd always have to go everywhere with it. get in the front. we drive. it was so embarrasing that we just wanted to say, well, go away. shoo bear. but we can't really tell bears what to do. moooooommmmmm!!! then one day, it was just gone. mom! [announcer] you are how you sleep. tempur-pedic.

s. >> there is only one day left in the week. congress people from both sides of the aisle are really demanding answers and a major hearing is set for tomorrow. we have two members of that committee who will be asking the questions and looking for answers tomorrow. you're a former nurse and you're a doctor. we have got the medical side covers here, by the way. ladies first. you just heard some of what the president said, i'm sure.

he uses the phrase repeatedly that he is outraged. are you satisfied with what he has said so far and more importantly by what he has been doing? >> i'm not satisfied. i'm not satisfied until we get all of the answers to all of the questions. i want to know and will be asking this tomorrow in our hearing about what happened, when it happened, who knew it, what action was taken and what have they put into place to make sure that this does not happen again. >> how about you? are you satisfied with the responses? has the administration done everything that you would ask it to do to restore confidence in the irs? >> the biggest obstacle to the administration and congress dealing with this is the 24/7 news cycle that demands that people put stuff up before they know what the real facts are. everyone is looking for a rope in a tree before they know what the real facts are.

there were 3400 applications that came in for tax exempt status. and the usual burden was one quarter of that. so the man who was at the top made some mistakes. it's pretty clear he made some mistakes in how he tried to evaluate those. but there is no proof that anything bad was done or that anybody was denied constitutional rights. i think the hear something very important. so we can hear exactly what happened and exactly what was done and we can decide if there is anything nefarious being done. i remain to be convinced because i think the people at the irs are good dedicated public servants. >> but you have to say based on the facts, but that these allegations are disturbing on the face of it.

that political that is disturbing for america. >> there is obviously concern and we were moving forward. we scheduled a hearing. we were prepared to do that. you now look at what information what was leaked out was a doctored phone message. and that's clearly changes the whole thing about what went on in benghazi. i think it's always we wait and gather the evidence. >> a little short on time. in this particular case. he said basically in case you didn't hear, the criminal investigations that you didn't

hear. what congress is doing, he thinks we have. >> let me go back to the statement that we just don't know. >> there is a lot of digging yet to be done. just so that we can tell the american public we have done everything that we can do to show you that we uncover what was going on this is very important to get the american trust back. already the american people don't trust the irs and this

certainly didn't help them. we're going to do whatever we need to do. what a lot of folks don't know . >> we can tell the bureaucrats that the american people are not going to misuse information. >> you have called for putting a hole on that until we get to the bottom of this irs matter. thank you very much for your time today. we will be watching tomorrow. we appreciate you coming by. sue? >> to the corporate side of things.

>> right now intel is up about a quarter of a%. last trade, $24 and 26 cents. >> wall street knows you very well. you're an important face for intel. are you sticking around for the foreseeable future? >> good to be here. the short answer is yes. i was absolutely honored to be part of the selection process. >> articulated a broad, big strategy to the board as part of the process and that eventually

we will hear more about that first. have you heard that strategy yet? >> i think you saw today the emphasis of where they are heading. >> have you personally heard? >> brian and renae and i have had deep conversations and i wouldn't think of it as an event but an emphasis on where we are taking the company. >> can you clarify the type of customer you might be working with? i have heard in the past, not competitors but i heard today that customers, the higher end folks who can take advantage of

intel's technology and keep gross margins in that percentage range. are both of those accurate? >> you didn't hear a change there. what we have seen is that manufacturing leadership is extending over the rest of the industry. we can do products that are higher performance than anybody else. that has allowed us to have stronger positions. we can bring in customers that don't compete with us and we can manufacture for them. >> who competes with you. i am wondering about somebody like apple. >> i'm not going to talk specifically about customers. i think altera is a great

example. we want to get paid for the technology. they can have a product line that starts to extend over what their competitors can do so they can get paid in the marketplace by increasing the performance and power efficiency of their product line. they are one of the largest consumers out there. >> stas requesty, thank you for being with us. >> wi let's get the trading action here. we have a modest gain.

new homes, housing data was lousy. the philadelphia fed was lousy. ever since the retail report on friday, the economic data has not been very good. this is what i call an indeterminant marker. slightly more risk on with tech energy. that is still largely the case. this is not a particularly strong read on what the stock market has been doing in the last few days. the big names that have been moving, the big sub sectors are split a little bit today. the banks and defense have been big market leaders. biotech and housing stocks have been a little bit on the downside. here is what has been moving. i think it is very interesting. the bond market is making a come back.

we have seen bonds make a come back in the last coup lt days. >> we were talking about 2% on the yield and we dropped on that data. thanks. appreciate it very much. >> the ten year yield moving to the downside a little bit. >> as they should be. a funny thing happened on the way to 2%. we didn't quite get there. if you look at the two-day chart you can clearly see we were making a beeline for it yesterday and you can see on the right side of that chart, 8:30 eastern, figured prominently. a the dollar index is coming off of a breach from 84. yes, it has been that long since

we had any test in the dollar index of 84. the big debate is, is it a dollar friendly or european unfriendly. last two charts when interest rates go up whether it's investment rate, or hyg, the high yield etf, they both retrench in a fairly aggressive fashion. back to you. gineering technology, computer information systems, networking and communications management -- the things that our students need to know in the world today. our country needs more college grads to help fill all the open technology jobs. to help meet that need, here at devry university, we're offering $4 million dollars in tech scholarships for qualified new students.

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>> in today's yahoo! finance question of the day, would you rather buy google at 900 bucks or so or apple in the $400 range? 14% said google, 40% said apple, and 46% say neither. let's see what is coming up on

street

>> people briefed on the two conversations say the discussion centered around the unions goals and the proxy fight and if there was a potential to reach a compromise. it was asked that they were unavailable for comment and it's unclear right now what if anything the conversations or compromise could yield. goldman sachs reached a compromise on a similar proposal. that was months ago.

one person familiar with the matter said a compromise at this point appeared impossible. in the meantime the bank has launched a charm offensive across corporate america and any support it can drum up up in the coming days will be crucial. >> and we will be watching. thank you very much. we will take a quick break here on power lunch and get the sun block and the beach towels ready. the power house is heading down south to beautiful florida. find out what your money can buy in miami, coming up next. it's a. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives.

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>> nancy, let's go to the first one. asking 449. tell me where it is and why you like it. >> well, it's in behar boay har islands, a mile from the beach. a very quiet neighborhood. it has -- --

>> yes, yes, yes. it's a tropical modern. it has got all the art deco-details that we love. it's a two-story. it has three bedrooms up, one down. it has impact windows, which is important. and heated pool. a guest house for the northern visitors. and you can walk to 41st street, all the dining. schools, walter parks. it's a wonderful -- >> man that looks nice. with a guest house for my extended family. keep that one for me. don't tell anybody about that. >> okay. let's go to number three. the power house of the week. a beautiful penthouse. 9601 colins avenue.

5.99. this is a show piece. >> sit a sexy miami white hot kind of apartment. it's a penthouse. it has got 360 degree views. >> oh, man. >> it is completely gutted, all redone. the finest of finishes. it has more style. you can't believe it. plus you're across the street from the world famous bell harbor shops, which have it all. >> that is a beautiful piece. lovely properties here. look at that. oh, man, i'm out of here. new jersey, i love you baby, but no way. i'm coming down to visit you. nancy, thank you very much. sue? >> thank you. >> i'm going with you, ty. i'm going with you. all right. it doesn't get much better than that. and a deer crashes through a bus windshield. we'll tell you what the outcome was when we come back. poor little thing. oh know.

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title for the french club and for madrid, the los angeles gal laxcy and of course manchester united. the 38-year-old beckham says now is the right time to finish my career, playing at the highest level. i got to tell you, he will be missed. he was wonderful to watch. >> we will still see him in his calvins. how about a deer in the windshield. a bus driver was traveling down the road when a deer -- oh my goodness sakes. it happened in johnstown. the deer, oh my goodness. open the door. open the door for the deer. that's terrible. the driver immediately stopped the bus and opened the door and the door walked out. didn't even have to pay a fare for that. >> poor little thing. >> that's great. >> happy ending. good job by the driver there to stop that bus. >> can you even imagine? can you imagine having something

like that come through your windshield? >> that was really something. >> nice driving. >> we will see how we finish on the day. that will do it for power lunch on a thursday. >> street signs is on deck and they begin right now. we will see you tomorrow. >> guess you could say that deer was bam! bi. that was terrible. raise your hand if you're getting nervous. it is down a day but can anything stop google from hitting 1,000 bucks a share? we will list the single best bank stocks for you. restaurants, waffle tacos a