tv Jansing and Co. MSNBC August 11, 2011 7:00am-8:00am PDT
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first half hour of trading today. we have seen an upswing. but 113 points doesn't begin to make up for what we have lost. yesterday it was down 519 points and that was the fourth triple digit swing in just the past five days. cnbc's melissa francis is here now, the question was raised on the front page of the "new york times," and a lot of people are asking, are we in for a repeat of the 2008 market meltdown? so what's the feeling on wall street? >> you said we were only up 114 points, but in any case we are positive so far that because initial jobless claims are down which is unexpected. but the question is are we in for another situation like we were in 2008. jamie diamond says it's no calamity here, it's not the same situation, the "new york times" article was talking about, there
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was some similarities, it was about debt last time. last time it was about consumer debt, this time it's about government debt. but it's not the same most people think on wall street. because there aren't the same hidden problems behind the scenes that could lead to a domino effect, like we saw last time. that said, fear really is in the driver's seat on wall street. you definitely see that and i think the question of the day today is about european banks and it's about does germany have the political will to backstop the european system. >> we'll continue to watch that throughout the day. so if you're one of those millions of people wondering what the heck should i do with my retirement money, we're here to help you. personal finance expert lynette cox is the founder of "ask t askthemoneycoach.com. wall street is down 16%. so if i want to stuff my money
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underneath a mattress for retirement, what do you think? >> everybody needs to be in the market to some extent, because we have all got to worry about inflation, so even if you did nothing, put all your money in cash or cds, you would be losing ground and you don't want that. >> so what can we do as much as humanly possible to fireproof our portfolios. >> you should look at your asset allocation month model, that's just a fancy little wall street saying to mix your investments in terms of stocks, bonds, cash and other things. don't fret over individual stocks or individual components of your portfolio because 90% of your portfolio's performance is actually determined by the mix, the asset allocation you have. so that's a good start. >> so at what point do you, x
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number of years from retirement do you need to pull back. >> people are saying i can't stand that advice, just sit tight, don't do anything, don't panic, they are panicking, they're six years away from retirement. if you're five years or less from retirement, you should be tweaking the asset -- you can't stomach this kind of volatility and no matter what age you are, i think this advice is good. if you can't sleep at night because of the investments you're holding, if it's practically giving you an ulcer. you should sell those particular investments that are driving you crazy, it's not worth it if you can't sleep at night, you're in the wrong investments. >> i was watching cnbc this morning to see where the price of gold was. a lot of people were wishing, a lot of people were saying oh,
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it's too high should i get in. did we all miss the boat? or are there still some places to get in? >> to be honest, chris, i don't -- >> showers into florida, someone was twittering me on i can't there's uncertainty about the housing market, even about currency, about the dollar, possibly losing it's status at the world's sort of reserve currency. all of this means that people are looking to potential safer place and what that perceive to be stores of value and gold is one of them. >> lynettlynette cox, thank you
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coming on. that so-called supercommittee of lawmakers with the task of reducing the deficit by $1.5 trillion. nine of the 12 have been named including pennsylvania's pat toomey. >> the guiding principles for me are going to be meaningful debt reduction that's pro growth. i think there should be a lot of opportunity for common ground. >> i'm joined by billionaire businessman robert johnson, the founder and chairman of rlj companies. good to have you back. you're not just a successful businessman, you're also a former washington lobbyist so you know a little bit about both sides of this equation. do you believe in the supercommittee? >> those who don't learn from history are doomed to repeat it and i'm afraid that not many people on the administration side or the congress side has
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learned anything from the pass, the punted on the bowls-simpson committee and you can't put people with 12 different stripes in a room to look at our problem. that's not a solution to 10% or 9.5% unemployment. 20% of the black community, we have got to have some real serious discussions about how to get the economy moving. >> let's talk about one of those because i think every republican member that's been named to this commission is on the record as opposing tax increases. can we do what needs to be done without that? >> we can do what needs to be done if we tackle both problems, entitlements, medicare, medicaid to some extent, defense spending and at the same time have real serious tax reform where you can close loopholes, lower the tax rate, create business incentives to get people spending began.
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for example, the money that's offshore, suppose the government allowed that money to come in from off shore provided that companies use a portion of that money to invest in small and minority businesses in urban markets around the country. you could see companies create funds to direct those dollars in return for a significant or some reduction of the fact effect of bringing that money back into the united states. somebody's got to start thinking outside the box, rather than relying on basically accusations against the other side to score points with the voters. >> there is a little bit of good news, the jobs report is better than expected, the president will be talking about jobs and the economy today. what would you like to hear him say? >> i would like to hear the president talk about the fact that you've got probably, to be honest, chris, 20% unemployment in the african-american community. and rising tides lift all boats
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only if you're in the boat. unfortunately, a lot of the african-americans are not in the boat. and the president needs to have a conference on how you can get more african-americans fully employed in this country. for example, minority businesses and there are thousands of them, more than likely will hire 80% of their employees will be from the minority community where the businesses are located. so perhaps the president should think about spurring investment in minority businesses because they're going to hire minority workers. we see what's happening in london and i'm not excusing thuggery and criminality and the behavior of some of these looters, but the point is, what's happening in london has the potential of happening here if we don't address -- >> you believe that what's happening there could happen 50er. >> chris, we have had riots in the united states, you got to go back to '67 in detroit and newark and chicago and l.a. and it comes when people feel that
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there is no hope, there's no opportunity. you hold a job fair, you have thousands of people lining up to go to work. and nobody's really providing real job solutions or even talking about real job solutions. so i'm not advocates, i certainly hope it won't happen here, but clearly if somebody's out of work for, you know, three years, four years, no place to turn, what are they going to do? they can protest, people can be agitated and then some thugs take over and you got a problem. >> we will be looking to see what the president has to say in michigan later today. robert johnson, always a pleasure, thank you, sir. you might remember charla nash, she was mauled by per friend's chimp. she has had a full face transplant.
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an end to a cross country man hunt, the two brothers and sister are behind bars in colorado after that shoot-out with police that left the sister with a gunshot wound to the leg. all three were on the run after allegedly shooting at a cop in florida and robbing a bank in georgia. good morning, miguel, how did all this go down? >> good morning to you, it certainly was a dramatic shoot-out on the interstate not far from where we're standing. all three of those siblings are in this county jail. they have a list of charges that certainly will grow. a caravan into jail for a family of fugitives who spent eight days on the lam, the end of the road for the dougherty gang. >> we proceeded at a high rate of speed, obviously you have got
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some individuals who have been identified as very dangerous. >> reporter: with officers tailing lee grace dougherty and lee and ryan. officers ahead used so-called spike strips to flatten the trio's tires sending their white sedan crashing into a rail. >> we heard gunshots and sirens and we came running out to look and we see the cops have guns drawn. >> lee grace was armed with a handgun and when she didn't drop the weapon, she was shot in the leg. one of the brothers was quickly tackled by police, the other was captured a short distance away by nearby workers. >> i told him, hey, there's nowhere to go, just give up now, and he proceeded to just ignore us and that's when we decided to take him down. >> reporter: police say for the 20-something siblings it was the second high speed gun blazing
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chase in eight days. >> fired several more shots at me. >> reporter: the crime spree began in florida when officers tried to pull over the trio for speeding. >> i have a flat tire, i can't go anywhere fire. >> reporter: police say just five hours later, the dougherty gang robbed a bank. with their faces plastered on billboards from florida to texas, the outlaws made it all the way to colorado. tuesday, police say they bought camping gear at this store then tried to buy ammunition at walmart. following tips, the police tailed the doughertys on to the state. >> as far as a nationwide manhunt goes, this thing went just like they're supposed to. >> reporter: three of the fbi's most wanted now captured. police say a fugitive family's cross country mayhem is finally over. the dougherty gang faces serious
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charges in at least three states. florida, georgia and of course here in colorado. the legal process begins here because this is where they were arrested. they could be in court as early as this afternoon. another deadly day for americans in afghanistan. five service members were killed in an ied attack about 20 miles west of kandahar. 51 foreign service members have been killed so far just this month. and coast guard crews rescued two marines after their fighter jet crashed into the pacific ocean, both are in stable condition. hundreds of suspects have been rounded up in that massive crackdown on the violent protesters that have gripped the uk for four days. among them an 11-year-old girl and a dog aughter of a milliona businessman. a visibly angry prime minister david cameron issued a warning. >> so the lawless minority, the criminals who have taken what
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huge protests over collective bargaining paralyzed the state for weeks, you'll recall, democrats pledging to recall the governor in 2012. there could be a throwdown of a different kind in iowa between mitt romney's family and ron paul's family. who is better on the baseball field? listen to this dare.
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>> we have a challenge for the romney family. we have five kids in your family and 30 some odd grandkids, we have a baseball bat and a plastic ball and we challenge them on the lawn at ames on saturday to a baseball game. well, last night president obama hosted a traditional ramadan dinner at the white house with the ten-year anniversary of 9/11 just weeks away, he also recognized the muslim survivors of that attack. she's rolling her bus tour into the hawkeye state this weekend, just in time for the ames straw poll. she says she was invited but it's not clear who did the asking. michael steele, the former chair of the rnc and an msnbc political analyst and mark, i loved your tweet today, quote to paraphrase from godfather 2,
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just when we thought she was out, she keeps pulling us back in. now we hear she's going to iowa? >> well, it's actually been one of the biggest stories during this entire campaign season so far, that the outsiders, people who aren't condition dats yet keep stealing the spotlight. she kicks off her bus tour tomorrow and of course rick perry who's going to be in new hampshire and south carolina and in iowa on sunday. these people are -- >> it's like get in or get out, let us have a chance. do you agree with that? >> i do agree, and i think it sucked a little bit of the air out of the basis of excitement for these candidates overall.
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it's not just the sarah palins, it's the rick perrys, it's all those who have been on the outside with those pushing and egging them to get in. >> he's getting in and he's getting in on saturday of all days. timing is everything in politics, i guess, but the reality is, for the folks who have been in this thing for seven, eight, nine months, in some cases over a year, it's a little bit frustrating, i'm sure. and that's why i have always said you have got to clearly define yourself and push your cause, don't be timid in this thing because other things will define your campaign for you if you don't define it yourself. i think you have seen that happen with some of these candidates so far. >> mark in years past, we have sort of -- we followed the straw poll but we never paid a whole lot of attention. there seems to be more focus on it this time, maybe because the field is so big, maybe because a lot of republicans sense an opportunity, because the numbers of barack obama, but could this
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straw poll indeed make or break some of these candidacies? >> well, chris, it's important to note that the straw poll overall has never been a predictor of what's going to get the republican conversation. it's been winnowing process. >> the movies, the plays, he's got it all going for him. michael, i'm sure you saw the headlines yesterday in politico, ames is the gop's grim reaper, the death star. sit a media tool or is it really -- does it serve the purpose mark says it does? the reality of it is the state party is going to raise goo gobs of cash, and that's a technical
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term for this weekend. they're going to raise a lot of money, there's a lot of activism on that level of it. mitt romney is not even participating in the central poll, there are strategies that people are going to employ here, yes, it is important to a point. you've got candidates like a tim pawlenty like if you came in third or fourth, it still has running juice into the caucus into february. so this doesn't necessarily serve as the grim reaper or the death knell for you if you don't want it to. there's no reason for them to get out because you don't know who else is going to get before then. we want to let you know that on saturday, msnbc will have the best political coverage from iowa, andrea is going to be there, chuck todd is going to be there. i'll be reporting from here. so who will survive? will anybody drop out? well the people of iowa will decide and we'll cover it all
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for you at the place for politics. speaking of judging people, the "today" show surveyed 26,000 moms and found that nearly 90% of them judge other moms. you name it, they judge them on breast feeding, on brats, on overweight kids. nine out of ten moms are judging other moms. you can check out the survey at today.com. ♪ ♪ ♪
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>> good morning, chris. >> what do you think about this app, is it kind of a no brainer? >> i really think it's a no-brainer. every parent out there should get one of these, get a picture, get the other information, it's just a simple piece of -- it's like your insurance policy, it's something that you hope you'll never use, but it's easy to update, it's easy to send off, it's really a no-brainer and the fbi have done a great job in putting this together and they have worked with the american football coach's association on child id for a number of years and i think this is just a wonderful application, every parent should have. when you think of the value of this, you think of an amber alert going out or in many states they have an endangered missing person advisory. and in both situations, this is a great tool to be able to send directly to law enforcement, so that child or that person can be identified as quickly as possible. >> and i know that we talk about
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this whenever we have a case like this, but let's re-emphasize it, how important is speed in the minutes and hours after someone is abducted? >> you know, there is no question that the quicker this information can get out, the quicker the child can be found and identified. and time is of the essence, when a child is abducted, within those first few hours is the greatest possibility of a child being killed. having that information, getting it out as quickly as possible, you know, every person out there with a child should grab this application, upload it, be prepared. there's no -- there's nothing more important than being able to get it out there as quickly as possible. also i would encourage you to check with your state to see if they have an active amber alert and in case the criteria isn't met on the amber alert that they
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have an endangered missing person advisory, that's kind of the safety net under the amber alert in case the criteria is not there. the morning elizabeth was abducted, we wanted to get our picture out as quickly as possible. this is a very simple, very private piece of information that you can send directly to law enforcement. it's a no-brainer, i would say, everyone grab it and do it. >> does every time you hear one of these stories, does it kick you in the gut a little bit, ed, does it bring stuff back to you? >> it re-emphasizes to me how we have to be more vigilant, not only in having something like this id, but also in preparing our children. you know that i am a very large proponent of rad kids, i think there isn't enough we can do to prepare our children to be able to say no and to know what to do
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and the children to know what their options and choices are because, you know, in many cases you hear of these kids freezing, once the child's taken into a car, boy, the possibility of recovering that child goes down significantly. so, you know, parents, please go to rad kids.org, get this fbi application, and be prepared. our children are too important, they're 100% of our future and we need to do everything we possibly can to keep them safe and to help them be prepared not scared. >> ed smart, always good to see you, it's been great seeing elizabeth out there talking, living such a great full life. good for your family, by, what a wonderful strong family you have and thanks so much for continuing this work. >> we felt very blessed and we want every one of these children to come home and we appreciate to see the support of the community and all of those that are helping this family. >> thank you so much.
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ed smart, good to see you. >> thank you. it might just be one of the biggest medical breakthroughs in the fight against cancer. details next. hair and mascara, a lethal combo. i'm jon haber of alto music. my business is all about getting music into people's hands. and the plum card from american express open helps me do that. you name it, i can buy it. and the savings that we get from the early pay discount has given us money to reinvest back into our business and help quadruple our floor space. how can the plum card's trade terms get your business booming? booming is putting more music in more people's hands. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people
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welcome back to jansing and company. i'm meteorologist mike seidel in atlanta checking out the forecast. for a lot of us the heat and humidity have broken for a few days, but not down south, 93 in atlanta, tallahassee 95. it's the same old story, dallas again, today is 41 in a row, the record is 42. but we have a front coming through. today we'll certainly get up to 100. but as this front comes closer, there will be some clouds and some showers. the question is do we have enough clouds to keep that temperature at 99 or below and next week it's another string of triple digit days in texas. by the way the new drought
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number came out today, the exceptional category, that's the worst category of all shot up another 5%. there's that front with storms. little rock a nice break there, but the beautiful weather, chicago to new york, your high also touch somewhere between about 80 and 85, a nice turn around overall. meanwhile the tropics heating up as expected here in mid-august. we have got a couple of disturbances we are watching way out in the atlantic, a low here and another surface low, both of these are heading towards the islands but it will take at least a week or so before they have any impact on the lower 48. chris, i'm heading to dallas to partake in the record on saturday. my fear is i get off the plane tomorrow and the temperature is only 99 and the record doesn't get broken. >> i'm useded to you being out in the extreme climate. mike seidel. good luck to you. an experimental treatment for leukemia has had
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extraordinary results for the three patients who received it. doctors removed white blood cells, genetically engineered them to make them kill the cancer cells and then returned them to the patients. two of the three are now con sir free. >> the results exceeded our expectations quite a bit. our entire team is really excited. and as well, the patients are excited. >> i'm now in a position of full health, no cancer in my system. >> money is now pouring in to expand the research. a memphis school principal was found dead in one of her school's classrooms. although a motive and cause have not yet been release beased by authorities, a 17-year-old male student has been taken into custody. for the first time since a chimpanzee attacked her in 2008,
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charla nash can eat and smell again. she tells nbc news she still feels weak but is getting stronger little by little and doctors say there's no timeline for her to regain full function. who is the most hated person in america? find out when we go down to the wire in 20. well, if you have been nervously following the stock market the past couple of days, you may be asking yourself now what? take a look at where we are right now, we were up a little bit at the beginning of this hour, now the dow up 202. cnbc's mandy drury is here with what's moving your money. what's behind this little bit of a rally. >> let's just say so far so good, we're currently up by 200 points on the dow as you mentioned. we had a couple of good economic pieces of news this morning that's helping to restore a little bit of battered sentiment right now. for example, we got fewer americans joining turn employment line last week, and the number of people filing for
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those unemployment benefits fell below the 400,000 mark. for the first time in four months. that's kind of significant because it may be a sign that the job market is slowly improving after quite a slump. also we saw mortgage rates hitting record lows in the week ending august 11. the fixed rate mortgages fell to 4.3%. low rates haven't really helped the housing market in any significant manner, but hopefully there will be more people applying for a loan as those rates come down. just to give you a quick look at what is driving the rally this morning. we have got tech stocks leading the market higher, partly due to cisco. >> can we talk about something
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very important, shoes? >> this is kind of a blow to louie vitt tan because it's so well known for these red soled shoes. it did have a trademark for these red soles from the u.s. patent and trademark office in 2008 and they did file suit. but the judge said you know what? in the fashion industry color serves as an ornamental function and is vital to competition. >> in making the grade today, a new york city nonprofit organization says it's never too early to learn how to handle
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money because only 13 states require students to take a financial literacy course in high school and more than 60% of high school teachers consider themselves unqualified to teach financial education standards. sabrina lam is the director of the world of money and niles is a 13-year-old student taking part in the world of money program. >> tell me how this all came about. why did you start this? >> in 1995, i was in attendance of a financial -- what if children were receiving this same kind of information? i started doing research for myself to see what was available for children in a new york city region. and saw there was nothing. and so six months later, i created the world of money.org institute for children that started in the summer of 2006. >> so you have all these kids
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now like nils, who are doing it, daunte, so daunte, why did you get it in what are you learning? >> i got it in because my parents were like you need to learn about money. you need to -- >> did you have any money? >> i had money, yes, as a matter of fact i do, i have couple of hundred dollars saved up. >> how did you do that? >> simple just saved and, well, my mom says i have to donate to give back to the community. >> we love your mom. so what are you learning about what to do with that money? >> well, let me start with what we learned because how we learned was relearned how money works, how it flows through our system so we learned about commodities, bonds, annuities, stocks and other great stuff. and so what i'm learning to do is i'm learning how to apply it. ms. lam taught me to save myself first. so whatever i get, i save 10% for myself for something that i
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need and give it to something that i want. >> wow, unbelievable. i said only half jokingly i need to get in your course and you said adults actually do want to get in the world of money course, is that right? >> actually there are thousands of workshops, financial workshops for adults around the country, but i think there's a lack of seeking spirit of a slight intimidation to the subject. we kind of reach the parents at world of money.org through the children because once a year we have a parents financial workshop and it's a forum, it's an all-day forum and we really encourage parents to look at this as a generational issue that if their children are not taught at a very young age and we start at the age of 7, chris, start at the age of 7 in terms of how to have a healthy relationship with money, this will affect generations to come. this is an urgent issue, and our
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children must learn all aspects of money, from fico scores, how to read a contract, how to stay away from financial scams, they also learn chinese, mandarin chinese because they need to learn how to speak at least basically to 4 billion people around the world. >> it sounds like an empowering program. good luck with the program. >> thank you. >> be sure to watch a stronger america, making the grade with msnbc's tamron hall and jeff johnson airing sunday at 12:00 eastern time, 9:00 a.m. pacific right here on msnbc. russian president vladimir putin, the modern day renaissance man. he put on the scuba gear to explore an ancient flooded city. he discovered a 6th century urn
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while in the presence of the media. you may remember this video of president putin riding a horse shirtless and who can forget putin's republican days of "blueberry hill." what's up, smart? oh, just booked a summer vaycay. ooo. sounds pricey? nah, with the hotels.com summer sale, you can find awesome deals for places nearby. interesting... wow, i'm blown away. you look great. hotels.com summer sale, save up to 30%. and get a free kindle. hotels.com. be smart. book smart.
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is now honey nut cheerios! yup, america's favorite. so we're celebrating the honey sweetness, crunchy oats and... hey! don't forget me!! honey nut cheerios. make it your favorite too! fast food nutrition labeling is helping some customers cut calories. researchers compared fast food purchases before and after a new law requiring changes in new
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york city to post calorie information on menu. on average customers consumed fewer calories than those who didn't see or use the calorie labeling. i'm veronica de la cruz filling in for thomas roberts. american doom and gloom -- can america's leaders reverse this vote of no confidence? plus we'll talk to a woman who's fighting back against the banks getting 10,000 signatures to stop her foreclosure. and a guy who has bought a cup of starbucks on him. we'll see you at the top of the hour. chris? we have been hearing a lot about bipartisanship and working together in washington, but a lot of people believe the system is broken. 78% are dissatisfied with how the system works.
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she is now president of the wood row wilson center for international center for scholars. you start by talking about the good old days when kennedy was nominated and you think the partisanship divide really started with newt gingrich in the '90s. what happened? >> the recent divide did. i really tell my story in that piece. i was a kid at the 1960 democratic convention in los angeles where i grew up and i saw the nomination of john kennedy and that's what inspired me to be in congress and 32 years later i ran and was elected in the so-called year of the woman. but looking back on those years and looking back on my time as a senate aid in the '70s, i think the present slide started in the late '80s. and there were two events, one was the invention of the negative ad, and the other one was the very contentious hearings to confirm robert
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bourque to the supreme court. he was never confirmed. and somehow the gloves came off and first our politics became very partisan and then after 1994 when newt gingrich was elected to speaker of the house and the majority changed after many, many decades, governance became politicized and it's just gone onhill everybody since. >> and you make a three point sort of fix it suggestion including that the president needs to build a relationship with congress, congress needs to become more competitive, and the middle has to become more militant. do you really believe those things can happen? >> yes, i do. i was in the middle in congress, i won a very large victory last november by 25 points which i'm quite proud of. i left congress this -- early this year because of this amazing opportunity to work in a place that's bipartisan and combined scholarship and policy. but after nine terms in congress, i saw how frustrated, because i was frustrated, the
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middle of congress is in both parties. very good people serve there and my suggestion in the piece is that president obama should reach for what i call the frustrated core, the middle of congress which is many, many members and build personal relationships with them. he was in the senate, but only for a couple of years. so he doesn't come with the kind of background that lbj had in terms of working with many members. that was one point. my other point was, districts should be competitive. if you have to -- and my third point is the middle of the country, which is very frustrated, that's poll numbers you're talking about should become militant, demand that the rewards go to the people in the middle who are trying to solve the problems and extremes in either party be marginalized. >> people can read about it in "newsweek" magazine. today's tweetd of the day comes from jerry seinfeld who's coining a new word. comedy is just complaining in an
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lady liberty and the most hated person in the whole country is casey amount. one poll shows he has a 94% dislike rating. and spencer pratt from the hills and octomom, nadya suleman number three. the guy evicted from this house must have really hated his landlord, because he left behind snakes, scorpions and taran chulas. you probably would rather see this guy, check out this deer running through backyards in australia, he's trying to dodge animal control officers who have tranquilizers, he even stopped traffic for a while.
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the statue of liberty is closing. just for a year. lady liberty is getting an internal makeover to make her safer for tourists and visitors. $27 million price tag, the renovation starts in october. do people really hate rebecca black's song "friday" that much? reports of her being homeschooled because of harassment and bullying. these trucks are lined up. mud running and truck popping are part of it. yes, it's the red neck olympics. that takes us down to the wire. i'm chris jansing, thank you for watching.
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