good america, just little while ago president obama signed his financial overhaul bill tha the law. its package of measures th will protect consumers while giving the government being too big to fai >> with one signature he changed financial regulaons in three areas. first for consumers a financial overhaul would keep them with outrageous credicard fees. >> if you have applied for a credit card a steend loan or mortgaged, you kw the feeling of signing your name to pages of

barely understandable fine print. what often happens as a result that many americans e caught by hidden fees and penalties. >> for the big banks, president says the overhaul is the most sweeping since the great depression. he says it forces lenders to be transparent and accountable to they can't bri the economy to its knees. >> this reform will help foster innovation, not hamper. it's designed to make sure that everybody fauls follows the same rumors, it's on quality, not on tricksnd traps. >> it attacks abuses in the meort industryhat led to the subprime mortgage crisis. >> we'll make sure the contracts are simpler, putting an end to hidden penalties and fees in complex mortgages. >> the bill moves quickly through the housebut it took the defection of three republicans to pass it through

the senate. republican leaders call it overkill and already they want it repealed. >> i think the financial reform bill is ill conceived. i think it's going to maintaining credit harder for american peopl to get, clearly harder for businesses to get. >> one victory chalked up and another one waing. they helped break a filibuster to ensure millions of unemployment benefits for millions of americs. the bill wod restore benefits to near five million people whose 26 weeks of unemployment benefits ran out in june. republicans say it's too much to add to the deficit. >> applied materials announced it will lay up to 500 people as part a of restructuring plan the company says it will focus more on solar and advanced

energy. restructuring pl is expected to cut expenses by $100 million. >> in other news, critics of oakland's histor vote to put large scale marijua operations federal government may take notice a not like what they see and it's suppliers that could be hurt. terry mcsweey is here to explain. >> we cameown to the law offices dean johnson to ask him how the laws play out. he says tre may be celebration in the east bay right now, at any time the federal government could step in and start handing out ten-year prison sentence to those large pot growers. >> the idea of huge football sized marijua fields has some bay area pele and government excited but legal analyst dean johnson the federal government could put an end to the expansion of marijuana growing operations.

>> for example we fod a large grow in oakland, snag exceeded thousand plants, that would involve a ten-yr mandatory minimum sentence and the penalties could go up from there dependinon the facts. >> johnson say local attorneys have bee advised not to spend time o money to marijuana prosecution bu that could change quickly and painfully. >> if it becomes to egregious the fedel authorities might decide it's time to get int the marijuana osecution business. people thought they were opening legitimate businesses, may find themselves in prison. >> they have the green light in oakland but they wonder if they match the quality of the smaer growers. >> it would a lot of dierence, the difference between a fine wine and a bottle of mad dog 2020. >> some say what is under

consideration would ruin the industry in that city. but supporters say it's an industry not only taxing but regulate. >> can we have social proble, public fires and home invasions that stem from this unregulated cultivation. >> all that debate may be moot. if the federal government decides to step in and the u.s. supre court ruled five years ago that local and sta laws are changing. federal law is still federal law. the suspect involved a gun battle with chp on interstate 580 is expected to enter a plea to attempted murder charges in court in the next coue of hours. meantime, police say theyheir confrontation with byron will qams may have prevented a bigger problem and they know who he was targetin >> this morning, byron williams

has yet to take the stand and enter a ea. a sheriff's deputy to me they still have to interview him and try to of before the judge as quickly as possible. he has medical issues. those e the gunshot wounds he suffered during the mass shootout. >> you can hear some of the shots from the intense 12 minute gun battle that took place between chp officers early sunday morning on 580 in oakland. the suspect byron williams has told investigators he hoped to start a receiver lies by traveling to san francisco and killing people of importance at the aclu and tides foundatio that promotes social justice. they initially pulled him over for speeding. one officer saw him reach for a gun. he told investigats he made a decisi he would not be

arrested a was willing to shoot and kill officers. >> we are so glad we're not planning a memorial service today. our officers exercised very good judgment, good skills and relied on their training. we are going to trust the outcome to our judicial system. >> he is facing four counts of attempted murder and felon in possession of a firear as a two strike felon she is charged with possession of weapons and ammunition and body armor. he could face life in prison. he was wearing the armor which is what protected him. he could even fa federal charges. right now the f.b.i. is investigating. in hayward, chp officers had to use a taser to subdue a man

that ran across the 88 freeway this morni. it happened around 6:45 north of whipple road. here is a look from sky 7. one vehicle overturned into a ditch but no serious injuries. a person in one of the cars tried to run away after the crash and w shot with a tase after he ran across the northbound lan. it slowed the morning commute for more than an hour. >> governor swarzenegger pick on state supreme cou could make history. >> and another side to the story why the on obama administration is rethinking it's decision to force an agriculture employee to resign. >> and california

a white house official says president obama supports the agriculture department decion to reinstate an employee fired earlier this week what was thought to be a racist remark posted on the ternet. that ander quick snippets from a speech from shirley sherrod with a accidentally posted on a tea party acvist. here is the problem, the words had been taken out of context.

sherrod was taken about an incident that took place 24 years ago that transformed her perspective on race and a complete speech proves that. >> she needs her job back. i give her job back in a minute. >> after first reporting her firing, naacp is campaigning to have her reinstated. sherrod says she is not sure she wants r old job back. >> how will i be treated once i'm ba there. i have would to be reassured on that. >> the conservative blogger that posted it getting sherrod fired was neve his intent. he merely wanted to show that people in the audience was applaudi when she talked about her perception of the white farmer. >> governor swzenegger nominate the first philippine

woman to appellate court. she is the next chief justice. she would give the state preme court a female majority for the first time in its history. 50-year-old sacramento native is a graduate of u.c. davis school ofaw and a republican. if approved by voters in november, she would replace ron george. >> they are threatening to shut down efforts to bp well. thad allen the weather could force crews to abandon the watch over the experiment tell that has been bottling up the well. scientists have be examining cameras for days trying to determine if that cap is displacing pressure and causing leaks under ground. >> n.t.s.b. is investigating an incident that left 30 peoe injured after severe turbulence

hit a jetliner. the flight originated out of dulles near washinon, d.c. and was heed to los angeles. it was diverted to denver where it landed safely last night. many of e injured were treated for minor injuries and released from the hospital. >> the plane dropped properly, 20, 30 feet. i saw two people hit the ceiling. girl in front of me two rose, i saw her hit the ceiling come back down. >> airline officis say it's a grim reminder of the importanc of seat belts. this picture shows the damage done, slammed against the wall of the plane. >> ouch. >> kristine hanson is in for mike nicco. >> on a overst and look at the overcast, will we see theun

today? >> still ahead, it's commiserate bizarre journey. >> and new fallout as questions continue to grow for the safety of the popular diabetes drug avandia.

thieves the left arm mannequin of lefty o'doul, the arm ripped off was returned to the restaurt yesterday delivered in in a big box addressed from iowa and snapots of the arms that ventur across the u.s. >> it was their gnome, they traveled from place t place and put it to different places. took it to washington, c. all thesdifferent things. >> it contained a letter fr the arm's perspective declaring des moines, iowa was the sister city, many adventures the arm had.

>> at muggy i would think but interesting thing, we need to hear the rest of the story, we have to read it. >> it's still overcast, south beach and high defition and you can see the overcast. drizzle this morning and it's really been chilly in the city, look at san jose, a little bit of sshine, finall almost all of the y area was shrouded in cloud cover and extended into the north bay, sonoma county and into the central valley, through fairfield. not quite to vacaville but pretty impressive. look how temperatures are warming where there is some sun. 65 in fairfield and concord. 59 degrees in santa rosa with

continued cloud cover. the overcast will remain there at the coast throughout much of the day, chilly readings. late morning burnoff we're starting to see that now. cooler temperures as a result of is that marine layer and another reason to tohow you in a moment. this is e satellit image that shows not only the fog but we're seeing a cool weath pane. we've seen that all winter continuing to drop dn. they have just enough energy, we could see a few sprinkles around the pacific northwest. we'll be on drier north site of that and west side morrow. conditions will improve. for today, still very comfortable, central valley 80s and 104 in palm springs. lake tahoe, 83 degrees. plenty of sunshine east bay locations, 78 in dubl. 80 in livermore and 64 in oakland, cloudy most of the day.

67 union city. we've seen the sun in san jose and forecast high of 76. cold along the coast, mid 50s. downtown san francisco topping out in the low 60's maybe even upper 50s. north bay looks like a pretty day. sonoma and napa seeg a little bit of sunshine. here is theeven-day outlook, we'rgoing to return to a little bit warmer temperures, that would be nice. still fog in the ovnight, cloud cover and sunshine with summer like weather will perst all the way through the weekend. re news right now. federa health officials say a current study of the controversl pill avandia needs to stop enrolling paents. it appea to increase heart risks but they also recommending leaving the dr on the market for now.

fda is deciding what action to take. >> fais back is going to court to fight a new york's man claim that he should own 84% of the steoshl networking site. he clai that the founder, mark signed a contract seven years ago when zutterberg was an freshm trying to expand his year book. he gave him thousand dollars and he would hold half the business. contract between the two men were for an unrelated project. >> diane sawyer will anchor a special edition from stanford. world news there from stanford right at 5:30. >> up next, talk about trading up. >> a california teenager who >> a california teenager who started off

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cookies? boy: sure! te your friends hi for me. ♪ [ fema announcer ] high speed internet from at&t. toda at 3:00 sawrom the bay, they involve no cooking. join us at 3:00. show wi stream live on vie from the bay.com. >> today at 4:00, oprah goes to the biggest state fair in america. then at 5:00, some od news on california's economic frt as the state sees the smallest numb of foreclosures inhree years. 7 on your side michael finney

has his eye on best deals on prescription eyewear. >> finally, listen to this a 17-year-olsouthern california boy can call himself a master of barter system. he his name is steven ortiz, he had an old cell phone and traded up to porsche. he uses craigslist. he traded to a better phone that he traded for a i-pod plus. the good bikes and then laptops. >> forerunner for a golf cart and it may not belong here then more valuable dirt bike and then a series of cars ending with a '75 bron can he. >> the bronco gothim that porsche since older bronco is considered collecties.

>> i want to find the guy who traded the porsche for the bronco. i want to make a trade with you too, buddy. >> he is only 17. >> and how about the temperatures, a little warmer temperatures coming up tomorrow but very overcast throughout much of the bay area today. from allf us here, thank