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tv   CNN Newsroom  CNN  December 17, 2010 11:00am-1:00pm EST

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>> now we'll switch to the staff right here in los angeles. >> i don't know what to say to you, except to you, my audience, stin he had good-bye, how about "so long"? >> we need to reach out to maybe his kid and hire him. he's great. >> don mem lon takes over from here. thank you. live from studio 7, i'm don lemon with the big stories. north korea is threatening to attack seoul because south korea plans military drills off the
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island this weekend. north korea shelled the island three weeks ago when the south held exercises. the new threat comes as u.s. trouble shooter bill richardson visits north korea. cnn's wolf blitzer is with richardson and he will be live in "the situation room." wikileaks julian assange is in england today out on bail. he's accused in a sex crime in sweden and he calls the criminal charges a politically motivated smear campaign. >> it's very nice to be out in the sun. and monday courage yous -- we should remember this is not the beginning of the end. rather, it's merely the end of the beginning. confirming what we heard yesterday, there is something like an espionage indictment
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secretly against me in the united states. a federal judge in florida is hearing another challenge to the health care reform law today. the hearing comes days after a federal judge in virginia ruled a key plank of the law unconstitutional. that's a man dalt requiring all americans buy health insurance or pay a fine. >> it's an important part of ensuring that we can ban this practice that insurance companies have had in the past of saying that, if you have a pre-existing condition, you can't get insurance. that's something that you saw as a surgeon, i'm sure. you have patients cominging in who might need surgery and can't get insurance because they had a pre-existing condition. >> right. >> in order to do away with that, which most people want, this requirement that everyone who can afford it will ensure that they have an important piece of it. >> make sure you watch dr. sanjay gupta this weekend. it's called challenging health care. it's saturday and sunday
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mornings at 7:30 a.m. eastern. your taxes will not be going up in 2011. president obama will extend a bill extending bush era tax cuts and brianna keilar is covering that for us. dan lothian is at the white house. when do we expect him to sign it? >> reporter: that's right. it's a big victory for this president. a senior official told me they are feeling pretty good about that vote last night. the president is expected to sign that bill at 3:50 this afternoon and then make remarks. you rewind the next few days and the next week when the president and his top advise vors were expressing confidence that they could actually get a win on this particular tax cut deal, this agreement with senior leaders in the republican party. there were a lot of doubts, though, because there was so much division within the democratic party. i describe it this way. it's a football game. you look at the scoreboard now and the president has a win but
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he does come away and the team comes away with a lot of bruises because there are a lot of democrats that are unhappy because they feel that this is something that the country cannot afford and it's a temporary victory because, as you know, this extension is for only two years. during the midst of the 2012 elections or campaign season, this will have to be revisited again, don. so, yes, a victory for the white house and we'll be hearing from the president this afternoon. >> dan, stand by. brianna, after all of that plus sistering, most democrats fell in line? >> most. it's pretty interesting when you look at how many didn't. 112 house democrats voted against that -- against this tax cut extension and that's a very large number. you had an equal number of republicans and democrats in the house voting for this. and just taking a look at the leadership in the house and how they voted, speaker pelosi did
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not cast a vote. that's somewhat customary. the number two democrat, steny hoyer, even in those leadership ranks, you saw the disunity that you were seeing in the democratic caucus. >> you've been following this. remind us how this all affects us. >> bottom line, there is an extension here of the bush era tax cuts for all americans. whether they are low income, middle class, or they are wealthy. there's also a 2% reduction in the social security payroll tax which is something that folks are going to start seeing and republicans did prevail on that estate tax language that they wanted. it's lower than a lot of democrats wanted. what it says is that the inheritances will be taxed at a rate of 35% for inheritances that are $5 million or above and
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they are not going to be taxed at all. that was the big issue that really created so much disunity among democrats, don. >> brianna and dan, thanks to both of you. the deal will prevent your taxes from going up. but for many americans, it's not as good of a deal as it was this year. one prominent tax group says $50 million households will actually get a tax break. josh? >> reporter: let's talk this out. a lot of folks are seeing a headline about this. we're talking about it on cnn money and this is the basic idea right here, that 51 million households will face higher taxes. it's an important distinction here. look, people's taxes will go down because something passed at all. but compared to what is currently going on, 51 million households will be paying more. here's why. let me talk you through this. under this tax deal, the making work pay tax credit has been dropped. that's a matter of hundreds of dollars. if you look at what it has been
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this year, $800 per couple and $400 for individuals. that's going away. that tax credit is disappearing. instead, what you're getting, is social security taxes that are going down a little bit. they've been at 6.2%. they are going down to 4.2%. so basically what you've got to do is, based on how much money you make, you might be coming out a little behind under this new deal. the tax policy center, which is a nonpartisan group that tracks all of this stuff, determines that 51 million households will be facing higher taxes this year. what i've done is to help you figure out how you're impacted by all of this. there are a couple tools posted online. i've posted them for you on facebook, you can have fun there. basic information and give you an idea of how you're impacted. plus, we have this story from cnn money that does a good job of breaking down the new tax deal, where it's going, and how
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you can be hit. this is how you will shake out. after 25 years, larry king has made a lot of friends in show business. most of them, all of them drop by to say good-bye. my personal favorite is not a superstar. probably your personal favorite as well. his 10-year-old son was amazing. he did a spot on imitation of his dad, the king. larry has conducted 50,000 interviews. he's won an emmy a.pea body and in the guinness book of world records for having the longest running show for the same host and same time slot. chris morrow dropped by the set of "larry king live" just a few months ago. >> i think of him as one of the most creative, curious, insightful people and i admire him very much.
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>> to all the people that watch your show. i think you will be missed. >> larry, you're the man. you're the man. you're the man. ♪ express yourself ♪ [ female announcer ] the newest seasonal flavors are here. ♪ express yourself ♪ [ female announcer ] because coffee is like the holidays. it's better when you add your flavor. coffee-mate. from nestle. iso i taker one a day men's 50+ advantage. as a manager, my team counts on me to stay focused. it's the only complete multivitamin with ginkgo to support memory and concentration. plus it supports heart health. [ bat cracks ] that's a hit. one a day men's. [ male announcer ] you know her. we know diamonds. together we'll make her holiday. that's why only zales is the diamond store. where you can get up to $1,000 off now through sunday.
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a 77-year-old man was trying to park his toyota corolla. luckily, rescue crews dove in to help him. they pulled the man out to safety. boy, and a sign of the timeses in california. nearly two dozen demonstrators were arrested yesterday for blocking the doors to a downtown bank. they were protesting what they called unfair home foreclosures. and finally we go to portland, oregon, where firefighters were battling a blaze on a boat. the ship was lit up as part of a christmas parade but a leaky gas line created a much more dangerous light show. the five people on board were able to escape just in the nick of time. boy. a big no-no for a san francisco player. thrown out of the game after a confrontation with an ump. we'll check in with rafer to find out what happened. rafer. >> nice to see you.
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both cost the same, but only the pringles superstack can makes everything pop! ♪ hey [ male announcer ] same cost but a lot more fun. everything pops with the pringles superstack can! bad move by the 49ers defensive tackle. he was thrown out of the game after he made contact with one of the refs. rafer is here. >> the bottom line is, the point remains, you cannot have contact with a referee. they are hot about this in san francisco. let's show it to you. justin smith was being separated
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by the umpire from chris wilson, the chargers' tight end. it was enough to send the umpire over the flag, throws him out, and then san diego would go on to win this one, just barely gets in. 34-7 was the final score. smith could get fined. it remains to be seen about that, though. >> they say it's bad action. this is something that is really good. >> well, it's better news. the defensive tackle that was paralyzed on this play, playing against army back in october, bit of good news. he now has feeling in his hands. that, according to a school spokesman. he was taken off of a ventilator last month and his injury has been reclassified as an incomplete spinal cord injury. originally they thought it was a complete spinal cord injury and he's attacking his rehab with the same passion that he attacks his play on the field and got a very distinguished award given out by the football writers of
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america. let's hope that he's able to receive it there on january 23rd. >> we have a big arena where the hawks play and imagine sitting here and saying, don, can you help us out in that happened to one guy, right? >> that is an amazing story. this guy's name is tom fenton. he works as an assistant coach. they are in town and their goalie had the flu. so they needed a backup goalie. they called this guy, he's never played professional hockey. he hasn't played hockey since american international college two years ago. he never saw any action. >> ah. >> they assigned him to a one-game contract but he didn't take the call. he first screened it because he didn't recognize the number. imagine, get down to the garden, we need you. >> okay. let's talk about the -- about something else. more hockey. >> yeah.
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>> the cute teddy bear. >> the teddy bear toss. in hockey there's traditions of throwing things on the ice. there's hats, okay ta pus in detroit. but 23,000 teddy bears were thrown on to the ice. they throw these out. after all of the teddy bears were on the ice, the players scooped them up and then they are distributed to children's charities in alberta and they would go on to win the game 2-0. this is incredible. it goes on and on and on for like five minutes. there's 23 stuffed animals, 16,000 people in the arena. so more animals than people we are going to be seeing this game
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and only 50,000 feets. they are going to be turning people away. no alcohol at this event. there is a college stadium and people are going to be sober and cold. it's going to be subzero freezing temperatures. so it could potentially be a nightmare and the other thing is, the field is not heated. most stadiums have a heated field. this does not. it's a college field. they are not playing into december, at least not at home any way. their field could be hard as a rock. we could be seeing more injuries. it's going to be like a throw back to like the 60s in 1967. >> great stories. and you cheered us up. paralysis kid doing well. >> thank you, rafer. >> you bet. thousands of troops on the move. a live report on the holiday home coming.
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of course, everybody likes to be home for the holidays. that means our u.s. troops as well. they are returning from iraq and afghanistan and other forwarding operating bases all over the world. reynolds wolf is watching it from the atlanta airport. it must be warming your heart to see this. very nice, sir. >> reporter: it's incredible. absolutely. we've had about 2,000 that we're expecting today, just a handful. they come up in kind of a -- you will see them come up in twos and threes. it's been sporadic. we talk, of course, about the service members and you have to remember the families.
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we have a couple of families over here. your name is, sir? >> dave clark. >> reporter: dave and -- >> dawn. >> reporter: you just got back from overseas yourself? >> that's correct. i just got back from afghanistan about two weeks ago. >> reporter: thank you for your service. how is the adjustment? >> it's good. it's great to be back. >> reporter: a huge part of your family is there. actually, coming back today. >> yes, my son brad. he's coming in today. >> reporter: does brad have any requests from mom, what he would love to eat? >> a home cooking. >> reporter: totally understandable. also, your name is -- >> angel. >> reporter: and you spoke with your husband a short while ago? he's on the tram? >> yes. >> reporter: if you happen to see your husband, forget formal tea. how long have you guys been apart? >> ten months. >> reporter: and he was stationed in -- >> iraq. >> reporter: thanks so much for your sacrifices. and that of your husband. we've seen this scene play out.
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all eyes are pointed over here to these escalators waiting to come off. it's happy, bittersweet, most of these people -- >> it's amazing. i know exactly where you are standing. >> reporter: many of the people that happen to be here are here for just two weeks or so. >> yeah. >> reporter: it's amazing. as a matter of fact, we actually see a couple coming up right now. and it's the reunion. there you go. it's an amazing thing to see. that's what it's all about. >> do you think he'll talk to us? >> reporter: you know what, i'm going to let this one go. this is a private moment. they haven't seen each other in ten months or so. >> that's a good call. that's a good call. the cameras are enough.
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i know exactly where you're standing and it's always nice when you come up the escalator and see people there applauding. if you happen to be coming up the stairs with the service member and they applaud, the uso is always there. that's a good call, reynolds, to let them have their moment. you're right. this is what it's all about. we'll check in with you. >> reporter: we're going to see this play out. >> we have a bit of a delay there inside the airport. pardon that. you saw it live here on cnn. as he said, it's an amazing time. everyone wants to be home with their families and troops are coming back from iraq, afghanistan, and home for the holidays. new debt card rules. the federal reserve wants to cap fees that banks and credit card companies charge and the reaction on wall street has been swift and strong. stephanie elam is in new york now. hello to you. how would you new rules work here? >> well, to be clear, this is a
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fee that banks and credit card companies charge retailers. they kick in every time you swipe your debit card. one analyst says right now the average fee is somewhere between $1 and $1.30 and the fed wants to limit that to 12 cents. so it could be up to a 90-percent reduction on this. to go from 1, $1.30, that's going to be a big cut. >> this is a fee that retailers pay. will it affect shoppers, like you and me, stephanie? >> well, the fed says it probably won't translate into lower prices. however, banks are going to want to make up this lost revenue some kind of way. so they could -- they could get rid of reward programs for debit cards to push us to use credit cards or cash, don. that's one change that we could see if this were to happen. >> and you're watching wall street. what's been the reaction there? >> you take a look at visa shares. they've tumbled 13% yesterday.
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mastercard dropped 10%. wall street, they buy all the rumors. so this has big implications and could cause banks billions of dollars. let's take a quick look at our market numbers. dow off 31 points. nasdaq up by 5. 26.43. not a lot going on around here today as far as the markets are concerned, don. >> steph, what's your favorite christmas song? do you have one? >> the one by nat king cole. that's the best song of all times. >> do you find yourself humming christmas carols in the grocery aisles? the top five most searched christmas songs are -- here's number five. you hear it right there. "baby it's cold outside." number four, jingle bells,
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number three, the christmas song, and silent night and the number one most searched christmas song on yahoo! is -- the answer right after a short break.
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take a look. we left off with silent night. the number one song folks are searching online, you want to guess? it is the 12 days of christmas. they apparently can't remember what comes after three french hens, two turtle doves and a partridge in a pear tree. a popular christmas song performed by a most unusual
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band. you can sigh it's what many of you are clicking on. derek dodge is tracking what is trending. derek, take a swig at this one. >> don, we found this on liveleak. they are going to put new the holiday spirit or make you want to have a beer. take a look. ♪ >> this was up two days ago and they've had 30,000 views since then. i'm not sure why. i guess it take as lot of talent to do that. i certainly have no musical
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talent. >> it's very interesting. they are in tune and there are some ladies. i would think this is such a guy thing but everybody is taking part. very nice. derek dodge or digital producer, we'll see you a little bit here on cnn. you know, it's a professional life on the run. we'll spend a day with the cnn chase team coming up. this is america, man. home of the highway... last minute detours and spontaneous acts of freedom. ♪ we're wanderers. wayfarers. even nomads. so doesn't it just make sense that we build an electric car... that goes...far. really far. ♪
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try cortizone 10 intensive healing. the strongest itch relief medicine now has three vitamins and seven moisturizers. feel the heal. all right. here's a live look at san diego. uc san diego gets a generous gift from dr. seuss' widow. she's donated $2 million to help renovate the university house. no one has lived in it since
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2004 because of roof problems and other conditions. live pictures now of washington. the tax cut bill asks the house last night, it now goes to president obama. he's expected to sign the measure into law this afternoon. the legislation extends bush era tax breaks and unemployment payments. almost every american will see a bump in takehome pay. the bill cuts the social security payroll tax by 2%. it got find approval by midnight when a majority of the democrats gave up the fight to increase the estate tax. the debate spilled over to cnn's american morning. >> if we take a look at how the vote went down, you have nearly as many democrats in the house voting against it as those who supported it, including you. you were very vocal in your criticism of this. why could you not support this? >> well, a moment of truth was the very appropriately entitled name with the president's bipartisan debt commission. it took barely a moment before that commission report came out
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about problems of our national debt before he blew right through a trillion dollars in this side deal with senate republicans. i think you can talk about cutting taxes and that's great. we all like less taxes. but this came at an immense cost and with the ee siefficiency ofs having shoveled cash out. >> congressman, when we look at it, what is your take on this? our average americans better off today because this passed? >> well, i think that average americans -- i think about it in my area, in central tax texas. the median income for an entire year is less than what the top 1% will get in a tax cut here. that won't produce jobs but it will add an immense amount of debt with our borrowing from the chinese and others that we'll eventually have to pay.
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it's our money, it certainly is, but it's also our debt and now we have much more of it. i think if you increase the debt and you don't have a good job-producing program, that's a real problem. >> we know that the bill cost $860 billion. the 60 billion is extending unemployment benefits as well as other things. when are we going to see budget cuts that offset some of this? because right now we have the sweeteners but not necessarily the pain? >> karen, i think it's so important that we he wryize, first of all, this is the mempb taxpayers' money. yesterday what we did was extends the bush era tax cuts and you know and as you have said, this is letting taxpayers keep their money. this is money that they are not going to send to washington. now what we have seen is the democrat seen speaker pelosi do, up that spending. when she took the gavel, the federal debt was $8.5 trillion
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and now it's $13 trillion. so what we are going to do, come january 5, is reset those spending levels back to the 2008 levels and then begin a process of across the board spending reductions. covering the high stake political story, demands on the go thinking. larry shows us a day in the life of a cnn capitol hill chase crew. >> working in washington's d.c. is unique by itself. covering the hill, covering the u.s. government has its own challenges and it's a completely different kind of assignment. covering the hill is its own animal. >> it's different from other assignments because you have to be mobile and you have to be ready to move at a moment's notice. >> you should try east drive.
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>> the east bay crews are all pretty respectful. why make it harder than it has to be. we are pretty cordell. >> you're running low on tape or battery, it's not unusual for a crew from another network to help you out. >> or even fox news? >> or even fox news. >> we're turning into east drive. hopefully we can get parking this early. it's a pretty convenient spot. >> let the fun begin. >> capitol hill is more than just the dome. the senators and congressmen are only in there when they are voting. their offices are across the street in a series of six different buildings. in order to get to these buildings, there are underground tunnels. news may be breaking on the house side and you go to cover that and then a development
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happens on the senate side. you have to be able to in one shift an interview with a senator, staking out someone's office, live shots. >> mob built is the key. the crews have to be ready at the drop of a hat. >> the greatest thing in washington is that a lot of them recognize these members of congress. it's a lot of people to remember and they are up here a lot. so they know who all of the key players are. >> there are different rules that you have to play by that you don't necessarily have to worry about when you're on the street covering news. >> when you see one camera go, you've got to get that shot, too. especially when your reporter is
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heading in that direction. consequences later. >> connor here takes off running, he's a fox newschannel and we're going to take off running, too. we're going to get the same shot, even if it means bending the rules. >> the whole point is for our fut age to make it on tv. and at the end of the day, when we're -- the cables are wrapped and cameras are off, we can turn on that tv and see the material that we provided to the network on the air, we know we've done our job. >> a day in the life of a chase crew on capitol hill. into a big mix of miserable weather. the pacific coast braces for rain and snow and powerful winds. ♪
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[ male announcer ] you know her. we know diamonds. together we'll make her holiday. that's why only zales is the diamond store. where you can get up to $1,000 off now through sunday.
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here in atlanta, the deep south, you don't expect temperatures like this. >> and the original long-rang out look was that it was going to be a milder than normal winter.
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our meteorologist karen
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maginnis has been talking about the busted pipes and now the west coast has bad weather. >> getting slammed with back to back storm systems. this one is one to watch. and the next one. where we could see feet of snowfall. and winds gusting as high as 90 miles an hour. they are saying in yosemite, we could see high winds. perhaps 60 to 90 miles an hour. already the rainfall occurring around the l.a. area. this could produce mud and landslides. what i mean by that are the areases that ha areas that have had water. san francisco bay area, i want to show you real quickly, as long as we're talking about that, some of the delays. we've seen very persistent, lengthy delays. san francisco international airport, it had been, until -- for about two hours, they are saying until 9:30 eastern -- or
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pacific time, but what we're looking at is quite a bit of wet weather. we have a live picture here coming out of san francisco, kgo. they can see the storm clouds lingering on the horizon. but if you were to whip up into the sierra-nevada mountains, it looks like a couple of feet of snowfall anticipated there. this is going to be a huge system with the forecast expected for the l.a. basin. very heavy rainfall. where you see this pink shaded area, we're seeing significant snowfall. you can see that as we go to the forecast snowfall totals over the next 48 hours but not just across the sierra-nevada. not just here. but into the wasatch across northern utah. the wind river, the siskiyous and into the cascades. that's a lot of territory, don, to be talking about. pretty much every mountain chean is expecting snowfall, especially the sierra-nevada. because this system comes in,
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the next system comes in, we'll talk about that until christmas. >> welcome to winter. >> exactly. >> all right. thank you very much, karen maginnis. we have more on the cnn report, ends of privacy. with tk combinations, all under $20! like succulent lobster and wood-grilled sirloin, or new chardonnay shrimp and sirloin. ends soon at red lobster. or new chardonnay shrimp and sirloin. i'm bob kearn, president of coit cleaning services. these pictures are the history of my family and they're also the history of coit. we've been in business for 60 years and our greatest asset has always been our people. we use the plum card from american express open to purchase everything we can and with the savings from the early pay discount, we were able to invest back into our business by hiring more great people like ruben here. how can the plum card's trade terms get your business booming? booming is a new employee named ruben.
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took some foolish risks as a teenager. but i was still taking a foolish risk with my cholesterol. anyone with high cholesterol may be at increased risk of heart attack. diet and exercise weren't enough for me. i stopped kidding myself. i've been eating healthier, exercising more... and now i'm also taking lipitor. if you've been kidding yourself about high cholesterol...stop. along with diet, lipitor has been shown to lower bad cholesterol 39% to 60%. lipitor is fda approved to reduce the risk of heart attack and stroke in patients who have heart disease or risk factors for heart disease. [ female announcer ] lipitor is not for everyone, including people with liver problems and women who are nurspregnant or may become pregnant. you need simple blood tests to check for liver problems. tell your doctor if you are taking other medications or if you have any muscle pain or weakness. this may be a sign of a rare but serious side effect. let's go, boy, go! whoo-whee! if you have high cholesterol, you may be at increased risk of heart attack and stroke. don't kid yourself. talk to your doctor about your risk and about lipitor.
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you must really care about him. what? you gave him fiber. this tastes way too good to be fiber. they're delicious crunchy clusters with sweet honey and half a day's worth of fiber. you care about my fiber? not really. [ male announcer ] fiber one. each week here on cnn, dr. sanjay gupta introduces us to someone that has overcome major obstacles and then has gone on to do major things. today we learn about a teenager that is coping with life-threaten illness. >> it's 5:30 in the morning and clay is arriving at the hospital for his dialysis. >> good morning, everybody.
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>> the 16-year-old has been fighting an up hill battle with his kidneys since he was born. >> he needs a kidney transplant? >> yes, i lost 30 pounds so i could give him a kidney. >> like most moms, she wants to do everything that she can for her son but just paying for treatment is a real struggle. >> just do what i have to do for my son and i've been doing it for 16 years. i fear that -- >> what about financially? how hard has this been on your family? >> it's real hard. >> this is the physical, emotional, and financial hardship. he's 16 years old. he was about to get help from a pretty unusual source. in fact, his friend kyle over here, come on in, kyle. 14 years old. have a seat. how do you guys know each other? >> at the dialysis clinic. >> so you were right here? >> yes, for about three hours monday, wednesday, and friday.
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>> kyle cobb looks like any healthy teenager but it wasn't always the case. in 2009 kyle's kidneys failed and took months of dialysis and a new kidney to save him. what kyle never forgot was his friend. >> what made you decide after all that you had been through, that you wanted to give something back? >> i wanted to help him in any way that i can. it gives me a sense of joy, makes me think that i'm thinking outside of my life for once and just to help someone else is a blessing to me also. >> so far, kyle has raised $3100 for kiwane and his family with some help from the motorcycle club. >> you didn't get a christmas last year? >> no. >> he's going to get a christmas this year? >> yes. >> he continues his fight with kyle by his side, both agreeing that a kidney would be the best gift of all.
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>> it's important to realize how it strains them of their m imagine gee. he wasn't feeling well and it was a struggle to talk to dr. sanjay gupta. he had have to be on dialysis his whole life unless he gets a transplant. the bill ex continueditendi era tax cuts is expected to be signed this afternoon. the measure, which passed the house last night, also extends jobless benefits for 13 months. it cuts the payroll tax by 2 percentage points for a year and continue as series of other tax breaks. nasa is testing the external fuel tank on space shuttle "discovery." it's already been delayed several times. and farewell to a television icon. talk show host and so much more. larry king ended his quarter of a century run on cnn last night.
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>> when i started 25 years ago in washington, d.c., i never thought it would last this long or come to this. i don't know what to say, except to you, my audience, thank you. and instead of good-bye, how about "so long." from. the best potatoes? idaho. idaho! idaho. and how do you know you're getting idaho potatoes? well...uh... uhm... heh.. (sighs) not all potatoes come from idaho. so if you want the best, you have to do one important thing. always look for the grown in idaho seal. i knew that. i knew that.
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look for the grown in idaho seal. time to check the news out of washington, d.c. jessia yellin, part of the best political team on television, live from the political desk. hi, jessica, what's crossing right now? >> hey, don, a big bill died last night, the omnibus spending
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measure that was supposed to fund the government, harry reid had to pull it because he didn't have the votes after all. instead the senate will introduce a temporary extension of the current spending so they can keep working. this is why it all matters. this was the major bill that included $8 billion with earmarks for both republicans and democrats in it. after the last election, the republicans decided we cannot back this anymore, because they took a pledge to have no more earmarks. they are so against new government spending. major, major fight over one of the spending measures. >> looking at later today, president obama is going to sit down with some labor union leaders, remember he met with ceos earlier in the week. well, you did one side of the aisle, you have to do one more
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side of the other. and many ears will be there. then you just talked a bit about larry king and his last show. well, on that show last night, he had former president bill clinton on, and he asked bill clinton how did it happen you ended up going to the press briefing room with president obama last week to talk tax cuts? a lot of the talk in d.c. was maybe it was former president clinton's suggestion, because he does seem to like to sell the democratic positions and touk at the press. no, bill clinton said when he was in the oval office it was obama's suggestion, and he said you want to go over there and meet some reporters? clinton says he told the president he's out of practice and wasn't sure he would be good at it, and the president reassured him he would be just fine. he ended up talking for, i don't know, 40 minutes, almost an hour. >> he said it's like riding a bicycle. bill clinton said do you want he
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said, no i want you to sell it to the press. interesting moment. i liked bill maher's response, the president was a secure man to leave the podium to bill clinton. not many people would do that. >> no, not many would. there was a lot of observation about that. other people saw it differently, bill maher gave him props for it. >> jessica, thank you very much. the next political update in the next hour. for the latest, go to cnnpolitics.com.
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that's in the next hour of the cnn newsroom. what lawmakers are doing to protect your privacy, especially kids, and the push-back from internet company also. your core competency... is competency. and you rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i'm getting an upgrade. [ male announcer ] indeed, business pro. indeed. go national. go like a pro. whoa! that achy cold needs alka-seltzer plus! it rushes multiple cold fighters, plus a powerful pain reliever, wherever you need it! [ both ] ♪ oh what a relief it is! [ male announcer ] you know her. we know diamonds. together we'll make her holiday.
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you need the patch. (announcer) icy hot patches. targeted no-mess relief. icy to dull pain. hot to relax it away. pain's no match for the icy hot patch. the use of public wifi in mauls and airports, it's convenient but rusky. hackers trawl for personal information. ted rowlands sought down with a former hacker to show you how easy that is to do. >> reporter: inside terminal 5
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at the los angeles international airport, accidents of people are on that you are computer. gregory evans is a former hacker, whose resume includes two years in prison. >> we were doing almost a million, if not more, a week against some of the biggest corporations in the world. >> reporter: we sat up in a corner of the terminal, so evans could shows just how vulnerable are people. >> i will go and set up a fake wifi. one people connect to it and start surfing the internet now what i'll do is grab all their traffic. >> reporter: we launched a fake network. within minutes people started kecking to it. it showed us how a hacker can report everything that by tracking what i was doing on my laptop. >> so if they go to their bank
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which stays with the victim. >> but everything that you do, as long as you have that computer, is going to be e-mailed back to me. >> during our experiment we stumbled across what appeared to be a real hacker at work. >> so you think there could be a hacker here right snow? >> absolutely. >> reporter: t.j. hill bert is a retired fbi agent who specialized law enforcement is aware of this, and there's always the next piece. you steal the cards, you steal the information, you have to use them somewhere. that's when you start getting the real investigations going. find out who the wifi provider
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and use that. they also say change your password every now and then. another tip, turn your computer off when you're not uses it. and if you do go online using a public wifi keep in mind that someone may be watching you. >> you don't know if you're getting on a true wifi or you're connecting to a true network. you don't know if you're connecting to me or the airport. >> reporter: ted rowlands, cnn, los angeles. hello, everyone. tony is off today. it's the top of the hour in the "cnn newsroom," where anything can happen, and here are people behind the top stories. u.s. soldiers and sailors are making their ways home from family and friends are turning out to welcome them. >> if you're on a laptop right now, someone is tracking every move you make. can congress do anything to reserve your privacy? it was an amazing farewell to
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the king last night. we share some of the best moments from last night's last "larry king live." let's get started with our top story, can she? your taxes not rising. but several of the president's other priorities are still in limbo. for that we turn to our white house correspond mr. dan lothian. next moves? >> well, that's right, you know, before this one is even over, he's celebrating, but certainly focusing ahead. theant wants don't ask don't tell ratified. those are two things the president wants done, so we're told by white house, who held a gaggle of reporters that the president over the next couple days will be working the folks, pushing hard to try to get that done.
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demosat gave up the fight to increase the estate sales tax. >> you can talk about cutting taxes, and that's great, we all like less taxes, but this came at immense cost and with the efficiency of our essentially having stood at the front of the capitol and shoveled cash out. that's about as efficient and job-producing as some of the provisions in these bills are. >> the next step is to make these cuts permanent. it is what the american people are demanding, and you're going to see us do that, and you're going to see us begin to make these cuts. senate democrats have thrown in the towel on a $1.2 trillion measure. reps forced democrats to -- that gives republicans more leverage
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over spending. they'll be in charge of the senate when the primary funding bill comes up for a vote. julian assange is under house arrest today at a country estate. he's out on bail, accused of sex crimes in sweden. asang calls the charges a politically motivated smear campaign. wiki leaks has publicized hundreds of u.s. documents, some of them embarrassing. >> very nice that i'm out and among important and courageous friends. we should remember this is not the beginning of the end, rather it's merely the end of the beginning. there are reports today in the newspaper confirming what we heard yesterday, that there is something like an espionage indictment made secretly against me in the united states. >> we turn to a growing debate over the block bester is
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following these developments closely. >> there's no question this decision will come ago a disappointment to some women thinking about this medication as a treatment. sometimes a last-resort treatment for the metastatic or breast cancer treatment that had spread. after some time now, four studies came out, the fda wanted two -- does this prolong survival? and do the benefits outweigh the risks? the answer to both those questions, according to the fda seems to be no. the risk they're talking about are significant ones, heart failure, heart attacks, perforations or holes developing in the colon or the stomach as well. so, you know, that was why we're making so much about this, because when the fda tried to
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answer those questions, they got those answers back. look there was a lot of enthusiasm in 2008, so much so that this drug was given fast track, but there was a bargain that we needed to see those studies. the fda has really leaned down on the side of not recommending this medication for women with breast cancer specifically. in europe they looked at the same data and arrived at a different decision. they say in europe that you can use the medicine, but in conjunction with another medication. look, nothing happens quickly. the company is already planning an appeal. women on the medication now aren't going to immediately stop taking it, and also the medication is approved for other types of cancer, but the fda has sent a pretty strong signal here. in medicine, it's always about riskings and benefits. in this case they just don't seem to add up. don, back to you. >> thank you very much, sane
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jay. coming up they probably know more about computers than you do, so how do you protect the kids? a special report. first a random moment in 90 seconds. it's the only listerine® that gets teeth two shades whiter. and makes tooth enamel two times stronger. get dual action listerine® whitening® rinse. building whiter, stronger teeth.
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shannon travis is on the story from washington for us. shannon, so tell us, what's the plan here? >> well, don, we get excited about a lot of things around here, but this one is especially worthy of maybe a drumroll? i'll do my own. cnn is teaming up with the tea party express to host a first of its kind tea party debate. we just announced it. it's on the ticker, and viewers can check out the details. but it's going to be during the week of labor day in 2011, in tampa. tampa is important, because that's where the republican national convention will be for the 2012 presidential
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is amy kremer. she's the chairman of the tea party express, i asked her, who do you expect to see at this debate? >> i would hope we would see mitt romney and newt gingrich there, and sarah palin, and possibly mike huckabee, and there are some others out there, but obviously those are the ones conservative activists are hoping to see as contenders, and possibly underdogs. this is a huge announcement.
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it's the first of its kind, and we're pretty excited about it. >> shannon travis, thank you very much. from washington to the cnn severe weather center and my colleague here, chad myers bad weather all over. >> major in the west, and for days on end we've been focusing east of the minneapolis minneapolis weather. that's where the cold air, ice was, this is all changing now. the low is now in the west. the east will be okay, compared to what we had at would vginia beach. that does not look like a beach day. it was icy and snowing and sleet and freezing rain. you put freezing rain down on anything, which means rain that comes all the way down to the ground and then freezes when it hits the ground, there's not
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much you can do when you're driving on that. thanks for our affiliates in newport news, hampton rhodes. we push that weather off the east coast and bring this moisture surge into the west. so from san francisco right on down to sacramento, even down to l.a., this is where the weather is today. if you can get to the ski resorts around reno and tahoe, you will see feet of snow in the next couple days, and this is not -- i can't even tell you how much you'll see at the highest of high elevations. there will be almost 10 inches ofedly equivalent. between 70 and 100 inches of new snow to ski in, or get in trouble in, because there will be avalanche danger, of course, so stay on the trails. >> good advice. always happens with -- >> with big snow like this, you have to be careful. >> appreciate it, sir. every time you go on the web, they are watching. brianna keilar reports on what
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congress is trying to do to protect you and your kids from online predators. >> reporter: you know that catchy '80s song, popular before facebook, google and the enter net were around. everything we click on is tracked by online advertisers. on capitol hill, a bipartisan group of lawmakers is calling for privacy guaranteed, led by strange bedfellows, ed markey, and joe barton of texas, who's about as conservative a republican as you'll find. >> we're in an internet age, but i think the basic premise of the frontier, where you have a door and a peephole and you don't let somebody in your farm or ranch unless you know who they were, unless you want them to come into your home, i think that simple concept should apply to the internet.
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>> reporter: markie says the place to start is with kids. he's planning to introduce a bill in congress that stops online tracking of children's activities. >> when i have constituents contact you, what kind of horror stories are they telling you? >> well, people are concerned that it's the wild west with regard to children, that they don't fully understand what the impact will be on them later in life when all of this information can be gathered about them, what they did as kids, and used against them as adults. that's the real concern. >> reporter: he wants privacy guarantees for children that prevent companies from collecting certain information and a mechanism that will allow parents to delete information even after it's been collected. internet companies concerned congress will stifle their bottom line with a heavy hand are vying for a seat at the table. dave levin that will is with
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opensecrets.org. how much money are we talking about that they're spending here on capitol hill? >> computer companies, internet-related companies over the past two years have spent around $120 million annually. we fully expect in 2010 they'll spend at least that much, if not more, in terms of federal lobbying dollars. so, brianna, are these companies saying anything about their lobbying efforts? >> reporter: we reached out to a lot of the ones that create a lot of content. we asked yahoo! mike roar soft, facebook, twitter, google, to give us interviews to talk about how they lobby congress. all of them denied our request, but a lot of them said we are implementing a lot of this do not track -- these do not track devices on our own, and we're looking forward to dealing with congress on this issue, but there certainly is a bit of a tension here, don, because they're making their money off of advertising, information is a commodity, on the other hand you
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have members of congress listening to a lot of outraged americans. >> brianna keilar, thank you very much. a is that's order, 30 those mor troops. one years later, in a documentary "a soldier's story" we get unprecedented access to the soldiers fighting this war. [ female announcer ] imagine the possibilities with stelara®. for adults, stelara® helps control moderate or severe plaque psoriasis with 4 doses a year, after 2 starter doses. in a medical study, 7 out of 10 stelara® patients saw at least 75% clearer skin at 12 weeks. and 6 out of 10 patients had their plaque psoriasis rated as cleared or minimal at 12 weeks. stelara® may lower your ability to fight infections and increase your risk of infections. some serious infections require hospitalization. before starting stelara®, your doctor should test for tuberculosis.
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stelara® may increase your risk of cancer. always tell your doctor if you have any sign of infection, or have had cancer. alert your doctor of new or worsening problems including headaches, seizures, confusion and vision problems. these may be signs of a rare, potentially fatal brain condition. serious allergic reactions can occur. tell your doctor if you or anyone in your house needs or has recently received a vaccine. with 4 doses a year, after 2 starter doses, it's stelara®. you sigh the live picture there. that's a podium. they're going to make an
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announcement. there has been a settlement. u.s. officials are seeking compensation to madoff victims. they strike a deal with the estate of the investor, his name is jeffrey pickhour to re-claim bills onfor victims who were swindled. that is the exact figure. it's like $7.2 billion, but again, pickhour was invest investors there, and they're going to try to get the money back and hand that money out to other victims. it's good news for probably a lot of people who lost a whole lot of money with bernie madoff. the press conference should happen, but they're trying to negotiate some sort of deal. let's go cross-country, as they prepared for that with stories around the nation. first to miami, florida, a dramatic rescue after a
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77-year-old man drop hi car into the bay. he was trying to park his car and accelerated forward. the man is hospitalized in stable condition right now. i want you to take a look at this, this line in hawesville, kentucky. they waited outside in cold for hours and rain, to apply for 100 jobs at an aluminum plant. 300 soldiers wrapping up a year in afghanistan. you know, they are the last of 1500 soldiers to come home in what was the largest deployment for the state since world war ii. just in time for the hole days. unprecedented access to men and women on the front lines. cnn's documentary "a soldier's story" examines a war through the eye of three soldiers. we have been following them for more than a year now. jason carroll takes us on the journey.
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>> reporter: the president of the united states boards marine one. and then air force one for a transcript to westpoint, new york. >> announcer: ladies and gentlemen, the president of the united states. >> reporter: the 33-minute speech he's about to deliver will affect the lives in ever cadet in eisenhower hall. >> i have determined to send an additional 30,000 troops to afghanistan. >> reporter: along with every man and woman serves or about to serve in the united states military. >> number? >> reporter: for more than a year, cnn has followed three of these soldiers. together they sell a story of how the president's decision to expand the war in afghanistan affects the people most directly
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in harm's way. >> come on, you got it. come on, you got it. >> la trisha rose joins the army, leaving behind a 2 years old daughter with a hugs wondering how he can do it alone. >> here we go, almost done. >> reporter: sergeant randy shorter is a husband and father of two, just 32 years old, he's already a veteran of two combat tours. now he's about to return to afghanistan, to an area the military calls hell on earth. >> and what? >> safe. >> reporter: and then there's will mcclain, who weeks from tonight may find hemselves. >> jason joins us now, what is it that you're hoping to see through the eyes of these three soldiers? >> i'll tell you, don, and i
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know you've been following along, but my goal, i come from a non-military family. what i saw happening is i saw a lot of attention being drawn away from the war effort, so what i wanted to do was i wanted to find a way to get people reengaged in this war that's been going on for such a long period of time, and specifically the people who are fighting it, making it more personal. so that's how the idea for the series came about that we've been running here on cnn, and we've gotten such an overwhelming response, we decided to take what we've been putting together in a series and put it in a one-hour documentary. >> i know one of the soldiers you for theed in afghanistan, did anyone talk about the withdrawal date and what they think about july 2011? >> part of what they have to do is engage the afghan people, help to train the police and army. it's going to be a long haul.
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we saw them just a few months ago, definitely progress has been made. sort of paraphrasing in what the soldiers felt at that time, still a long ways to go in getting police and army up to speed where they did get the reins. >> jason, i'll be watching. thank you very much. this weekend you can watch "a soldier's story" saturday and sunday at 8:00 p.m. eastern only here on cnn. thousands of service men and women are on their way home right now just in time for the holidays, too. you can imagine the scenes playing out all across the country. many will past through atlanta's hartsfield-jackson airport, and that's where we find reynolds wolf. we have a weird delay here, so i'm going to let you take it over and tell us about the heartwarming scenes.
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>> what we've been seeing -- sometimes is -- they come up through the escalator, and they go past through the desk, they sign in, go through the doors n. a year they'll have about half a million people going through those doors and get a bit of taste of home, so to speak. this weekend it will be especially busy. today they're expecting 2,000, tomorrow 2,000,t 1200
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it makes me real thankful that she's doing this for not only me, but all of the kids that don't have this type of opportunity. >> julius received a scholarship from mama brown in middle school. now he's a sophomore at uc berkeley, studying biology and music with plans to become a doctor. >> to me, having the scholarship means that i have a place here in berkeley. it means that i don't have to work a full-time or part-time job. that means i can prepare myself for the future. >> he is is one of 60 students brown says she has sent to college and she plans to keep her promise to many more. >> give a child an opportunity no matter where he or she comes from, they will succeed. >> dan solomon, cnn, oakland,
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california. >> read more stories that matter to all of us, pick up the latest issue of "essence" magazine now. [ female announcer ] it's red lobster's ultimate surf and turf event. with three seafood-and-steak combinations, all under $20! like succulent lobster and wood-grilled sirloin, or new chardonnay shrimp and sirloin. ends soon at red lobster. has the biggest hotelimp deals we're offering the big deal guarantee. book a hotel with name your own price and if you can find a lower published price anywhere else we'll match it and pay you $25. book now and save up to 60% on hotels. only at priceline. i'm hugh jidette and i'm running for president. i'll say a lot of things but do i really care about this baby's future? when he's 30 years old our $13 trillion debt will be $70 trillion eventually his taxes will double just to pay the interest. i'm hugh jidette and i say let's keep borrowing and stick our kids with the tab.
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i'm don lemon in today for tony harris. breaking news as you can see there. you're looking live at new york city. there's a news conference there and it has to do with bernie madoff, and this is where a settlement, we were told just a short time ago a manhattan judge approved a settlement in the case related to the bernie madoff scandal. here's the deal. the deceased beneficiary in this madoff ponzi scheme. he agreed to pay $7.2 billion to victims of a fraudulent investments. our chief business correspondent ali velshi here. ali, this is a big deal. >> huge deal. >> and huge news for a lot of people independent. >> first of all, the news conference is going on and we have our producer there, he's sending me information. he said the speaker at the news conference said the aim is to distribute this money as fast as humanly possible. $7.2 billion. let me put this into perspective
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$20 billion was the money that was lost. there was 65 billion on paper, but $20 billion, so far $1.5 billion has been recovered. out of this one deal, $7.2 billion more, a third, more than a third of the money lost is going back. the money is in a bank already. this jeffrey pickour, wer, was the most prominent, there were ones who made and put in and unsuccessful ones who lost money. he made $7.2 million more than he put in, brilliant investor. he died. he was found dead in his swimming pool. >> his wife settled this and the trustee had said mrs. pickower is to be commended for coming forward and returning every cent she received to the truchtee and u.s. attorney and that money will go to the investors. >> we wanted to hear from the folks at the press conference. do we have it yet? we do have it. let's listen in and we'll talk about it. >> just a few minutes ago a
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manhattan federal judge approved a settlement agreement between my office represented by his widow barbara pickower. they were seeking to recover the profits that the pickowers received over the course of 35 years from bernard madoff, monies we now know were the largest ponzi scheme in all of history. >> you are listening to the u.s. attorney there. is he the first? he's the biggest of the investors so far. are there others that they're going after? >> yes. >> so there are 16,000 total gains. of that the trustee has determined 3,300 to be legitimate. that's on the claims side. on the other side, the people they're suing, 400 people are being sued but this was by far the absolute biggest. so this is is a big, big deal. now we're close to $9 billion having been received over 20 billion lost. when this first happened, people thought they'd get nothing back. so this is a big deal to a lot
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of people. >> it's a big deal. people can use the money at the right time of year. >> for those of you who weren't victims and don't care. this is a big deal for justice. this isn't a class action suit. this is the u.s. attorney and the trustee, so every dollar that is being recovered is being distributed as a said, their words, as fast as humanly possible. >> everybody will get the money back at the right time of year. all year is the right time of year. >> so great for these people. >> absolutely. ali is coming up in just about 20 minutes. he'll be leading the charge on cnn at the top of the hour and breaking the news on ali velshi. hollywood lost a heavy hitter, talking about blake edwards, the director, producer and writer behind such classics as "the pink panther" and victor victoria. he was 80 years old. do you remember the original peter sellers playing the bumbling detective? and do you know how the pink panther got his name? think about it.
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we'll have the answer for you after the break. [ male announcer ] this is lara. her morning begins with arthritis pain. that's a coffee and two pills. the afternoon tour begins with more pain and more pills. the evening guests arrive. back to sore knees. back to more pills. the day is done but hang on... her doctor recommended aleve. just 2 pills can keep arthritis pain away all day with fewer pills than tylenol. this is lara who chose 2 aleve and fewer pills for a day free of pain. and get the all day pain relief of aleve in liquid gels. with listerine® whitening plus restoring rinse. it's the only listerine® that gets teeth two shades whiter. and makes tooth enamel two times stronger. get dual action listerine® whitening® rinse. building whiter, stronger teeth.
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♪ ♪ ♪ we asked you before the break how did "the pink panther" movie get its name? that question, we asked. so here's what the answer is. do you know? it is the name of the stolen diamond inspector crusso attempts to find. it has an imperfection in it and it looks like a pink panther. today we remember the writer and director of the film, his name was blake edwards. he died this week. he was 88 years old. at long last, it is friday,
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ladies and gentlemen. the end of the week and opening night for some really big movies. are you planning on going to catch a flick tonight? our producer is here. he joins us with some of the film friday -- this is what i'm seeing. this is everywhere, every time i click on something online this advertisement is there. >> when tron came out in 1982 it was a box office flop and it turned into a cult favorite. it was about the internet before the internet existed. this sort of cyberworld. this is the reincarnation of it. "tron"legacy. the sequel is picking up 20 years later. jeff bridges is back in his old role and it's in 3d, of course, what better way to experience "tron"than in 3d. it became this cult classic, but it didn't work the first time, why do it again in. >> the technology wasn't there in 1982 to visualize it the way it needs to be visualized.
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just looking at the trailer, it looks stunning. one note about the move they has me really excited, punk is doing the music. if you're into electronic music you'll see it for that. >> the reason i'll go see this because it makes us old guys bridges. jeff bridges is an interesting choice and not a 20-year-old in the lead role. >> there is is a 27-year-old because you're a fan of cult favorites. >> they don't make a lot of holiday movies anymore. they're just not profitable. do you have favorites? is that considered a holiday movie? ? it's a family film so it's the classic "yogi bear" in the modern rendition here. dan ackroyd is playing yogi bear. guess who's playing boo-boo? >> i don't know. >> justin timberlake, at least doing the voice. this is one families will go see. >> animation has come leaps and bounds, so clear. . unbelievable. >> if you're insistent on a more romantic movie.
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you have "how do you know?" >> i've seen this all over new york city. >> i can show my favorite holiday movie that i want to show you? >> that's my favorite holiday movie. >> i didn't know what this was. >> i said derek, what happened to the yule log? >> guess what? they still play it at 9:00 a.m. christmas morning. >> we'll have a dvd of it, as a matter of fact. >> no new taxes, enjoy your movies. onking with the political news driving the discussion in the beltway and beyond next on cnn, your place for politics. oh, my gosh. oh, my gosh. ♪ [ male announcer ] you know her. we know diamonds. together we'll make her holiday. that's why only zales is the diamond store. where you can get up to $1,000 off now through sunday.
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time for a quick check of the top stories on cnn. wikileaks founder julian assange is sequestered at a suffolkest tate in england. assange calls the criminal charges a politically motivated smear campaign. a drug meant on euthanize animals has been used to execute a death row inmate in oklahoma. he was put to death using bash tol as part of a three-drug cocktail. an appeals court allowed the drug because there's a nationwide shortage in the sedative allowed in lethal injections. the government seeking compensation for the victims of bernie madoff just had a $7.2 billion settlement with the estimate of jeffrey picower. he is a deceased billionaire accused of being the beneficiary of the ponzi scheme and his wife is returning every penny he earned from those deals. no new year's tax increase. how is that for a christmas
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present for you? john king, host of "john king usa" and part of the best political team on television, of course, live from the political desk in washington with the latest. john? >> not a big signinger is money pep president obama will sign into law that deal he finally got through the house last night. it is, as you said, an extension of the bush. tax cut so nobody's tax will go up next year. a lot of people will see their tax goes down because it includes a 2% tax holiday. the president thinks it's good for the economy and a lot of people think it will be good for his re-election campaign. he will sign that this afternoon. this tax cut deal has been a huge depate. lots don't like it because it's a conserve -- if you want to learn more about the political debate. our ed rollins has a call on the political ticker. it goes through the left and the right debate upon. the american people seem to like it so maybe, just maybe it's a down payment on bipartisanship here in washington. and lastly, don. don't ask issue don't tell,
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repealing the ban in the military. many thought it wouldn't pass in the lame duck session. as it looks now it looks like it will pass the senate tomorrow, it has passed the house as a stand alone piece of legislation. the key move, four republicans have committed to vote for it. senator brown of massachusetts, collins of maine, snow of maine and murkowski of alaska. if the vote count holds, don, tomorrow the bill could pass and go to the president, a major, major change in policy. gay americans would be allowed to serve openly in the united states military. >> this will be historic. that's interesting news there. john king, thank you very much. we'll be watching you this evening and for your next political update coming up in one hour. for all of the latest political news go to cnnpolitics.com. last night was a milestone, the last episode of "larry king live." can you believe it? for it marks 25 years on cnn and 50 years in broadcasting, the fact that nobody seems to know better than his son.
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>> get in the car. i'm too old for this. i've done this for 50 years. >> that kid had me cracking up. more highlights from the king's last show after the break.
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time now for the help desk where we get answers to your financial questions. lynn set a columnist for walletpop.com. let's start in miss our we don wo writes in i invested in 250 shares of gm stock when it was $3.65 a share. since the bankruptcy do i have the chance to recover my losses in i a lot of people wondering this. >> last month it had one of the largest ipos on wall street in wall street history. unfortunately for this person they bought those shares pre-bankruptcy and they're out of luck. when a company files for bankruptcy, creditors and bondholders can get reimbursed for what they owe, but unfortunately shareholders are last in line and those shares are unfortunately worthless. one bright spot, they could probably take a tax deduction for the losses on the stock. >> they'll look into that. >> let's go on to wisconsin
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where we hear from roy who says i'm moving $300,000 from an old 401(k) to a new ira. i'm being offered a service where it will actively managed for $1,000. will i make more money with the investment company managing it? what do you think in. >> not necessarily. it depends also on the performance of the manager and the fund that you're going to be invested in. that's the key determinant about whether or not you're going to make more money. here's the bottom line. most index funds, frankly outperform a lot of actively managed funds. in this case, though, the fact that they had 300,000 in this account and they're only going to pay $1,000 for that actively managed fund. that's a really low fee. it's like a third of 1%. i don't quibble kwt fees but i don't think this person should think they're more money because it's an actively managed fund. >> they should probably keep their eyes on it as well. thank you, donna and lynette for your information as all. if you have a question you'd
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like us to answer for you, we'd be happy to do it. send us an e-mail any time at cnnhelpdesk@cnn.com. ♪ i hate suburbia and the bourgeoi-sie ♪ ♪ but i really love my bank ♪ i hate-- didn't quite catch that last bit. i said i really love my bank. right... is there a problem ? it's not really raging, man. uh, we were hoping for more raging ? well, you said write from the heart. yeah... don't do that. at ally, you'll love our online savings account. named the best of 2010 by money magazine. ally. do you love your bank ? we fill them with extraordinary craftsmanship. we fill them with amazing technology.
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and we fill them with inspired design. and now your chevy dealer wants to fill them with as much good will as we can. come see how chevy is giving more. right now, get no monthly payments till spring plus 0% apr financing and fifteen hundred dollars holiday allowance on most chevy models. see how your dealer is giving at facebook.com/chevrolet. turning online this hour, a techno doohickey to make traveling abroad a new walk in the park. it's an iphone app called word lens. point your iphone camera at a sign, a menu and other text. word lens instantly translates for you. right now the app only works with english and spanish, but more languages are on the way. here at cnn last night we marked the end of an era. the last episode of "larry king live" and here are a few highlights for you. ♪ ♪
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>> as you hang up your suspenders on your dressing room door, i speak for us all when i say we want more. more of the show that we instantly loved for 25 years, couldn't get enough of. >> you know, i've done about 7,000 interviews in my 25 years at cnn, and i've saved my best guest for last. i'm talking to me! >> bruce canon does me -- do me. >> i'm too old for this. i've done this for 50 years. >> no one has done more than you. you were my biggest competition. i hate to see you go, but a little part of me says oh, terrific. now i can get it. >> you say all you do is ask questions, but for generations of americans the answers to those questions have surprised us, they've informed us and they've opened our eyes to the world beyond our living rooms. >> thank you, larry. and thank you for all of the years. you were great. >> the today is officially in
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california larry king day. >> i will switch to the staff right here in los angeles. there you see wendy walker. ♪ ♪ ♪ ♪ the best is yet to come >> i don't know what to say except to you, my audience, thank you, and instead of good-bye how about so long. >> so long, larry. cnn tv won't be the same without you. if you are in des moines, iowa, you might want to look out for the man in a red suit. he's handing out money. ard, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare,
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