on our panel are rick mays, congressional editor of army times publishing company. ryan bener the pentagon reporter for the "boston globe." john barry the national security correspondent for news week and deputy chief editor. welcome to the show. let's start off with iraq. the security situation there was assumed to be improving and so u.s. forces could do an aggressive pullout and some suggested that schedule to be accelerated to be out of iraq by 2011. security situation there is a little bit rougher. brian, any chance that u.s. forces will stay there beyond 2011? >> i think there are clear signs in the last couple of weeks there are ethnic tensions, very strong ones still simmering just beneath the surface and growing concern that could come out into the open. certainly there are extremists that are trying to stoke those fires again. and certainly the u.s. military expresses concern that this could get out of hand. on the other hand they are encouraged that so far things have been relatively stable. that the shiah population have been reserved in not responding t

." >> reporter: and they will say, if they're like dwight and rick, that church integration may not always come easy, but it comes with rich rewards and improbable friendships. for "religion & ethics newsweekly," i'm lucky severson in houston. >> lawton: interfaith marriage has become commonplace in this country. but, for a long time, when it came to the wedding ceremony, many couples felt they had to pick just one religious tradition, the bride's or the groom's-- or none at all. today, brides and grooms are finding new ways to incorporate both their religions. betty rollin has our story. >> reporter: sunitha mani is an indian hindu, born in america. her mother calls her a "modern girl." even so, as she prepares for her marriage, she is going the traditional route and then some. it begins with her getting painted with henna, a process called "mehndi." sanjana, the marital makeup chief, explains. >> when it dries up and it starts flaking, it gives you that mahogany like a red burgundy color. so, in india the bridal colors are red. we usually wear red, maroon, burgundy-- so they say that the

is more suited for that type of device, and in a case like this, had there been that this may not happen. >> ricktwenty-first lineup. stick with us if you would because we're getting word from the faa in dc. molly henneberg in our washington bureau is following that for us. like a martyr you hearing to give. >> the faa is pointing us hear toward officials on the ground there. what would be happening in dc right now is the national transportation safety board and faa officials are here below some points in the team if the team hasn't left already been to have. to head up there to new york two start putting together the actual investigation of this incident. we are getting some details from an faa official. we believe in new york. jim peters. he said the plane took off from teeterboro new jersey, have been in a southerly direction en route to ocean city new jersey. the newark radio tower apparently lost radar contact with the plane. there were three people onboard the plane we are seeing some reports -- were trying to confirm ourselves -- we are seeing some reports the black box they have been reco

then -- >> apparently, he came back in may and finished the job last night, shep. shepard: on this same blog, rick, we get a sense of what may have driven him to this sort of violence. >> he was clearly a loner with a hatred of women. claimed he hadn't had a girlfriend since 1984 and hadn't had sex since 1990. he also wrote two days before the shooting the biggest problem of all is not having relationships or friends, but not being able to achieve and acquire what i desire in those or many other areas. he said he hadn't had control of his life for 30 years. shep? shepard: what do we know about the victims here, rick? >> we have some good news tonight. three of the nine women who were taken to the hospital have been released. the other women who were listed in critical condition are now in serious condition. so they are doing a bit better. also, the instructor of that class was seven months pregnant, she had just told the class this was her last time teaching for a while. she was one of those who was shot. people have left flowers in front of the gym all day for her and also the three women who die

. >> rick: the company that insured michael jackson's london concerts may not have to write a multimillion-dollar check after all if the pop star is found to have illegally possessed drugs or involved in the illicit take of drugs and the concert promoter's insurance is not required to cover the costs. school is right around the corner, but the main issue on many parents' minds isn't school supplies, it is the h1n1 virus. along with school officials, the centers for disease control are concerned with the spread of what is commonly called the swine flu, so, when will the vaccine be available? and who is at the top of the list to receive it? joining us now is dr. oker of the university of maryland medical school, dr. benocher, thanks for joining us. >> my pleasure. >> rick: almost like the health care debated as a whole is it more important to rush to get a vaccine done and administered or take our time and get it done right? >> well, you know what? it's not like a new drug where we don't have any idea what is really going on. i mean, this is a proven vaccine process, and, normally what they would d

that being said, rick's got -- he may have thrown away his career over the wrong one-night stand. the spin today is the money he gave her was not for an abortion, it was for medical insurance because that's the issue that's really resonating in this community. it's a very catholic community. thk get over infidelity, politicians, but the abortion issue is a real sticking point. there's a morals clause in rick's contract. he's going to make a statement, by the way, at the bottom of the hour just going to read a written statement, not take questions, but we'll get a little bit more of where he's coming from. but this story is not going to go away. it's the kind of story that gets bigger as opposed to smaller. >> because that's one thing when we hear this, lachlan, did he coerce her into having the abortion? any reports -- what are the reports saying about that, or did they have the conversation -- i believe the way he tells the story, rick pitino tells the story, they had a conversation at tim skyler's house, who ended up marrying the lady, right? >> oh, yeah. it's more bizarre -- "m

i thought it may be a good idea. >> rick: bob, thanks very much. great insight and we may be calling you once again in a few minutes. >> gregg: let me add, bob tour is a legend in aircraft, especially in southern california and has written books. it's always great to have him. unfortunately it's always on an occasion like this where there is a collision. midair and not survivable, said mayor bloomberg. i'm reading from the associated press which has a few more details. two bodies recovered in the water, one floating free, one in the wreckage. other bodies spotted in the debris. the crash victims as we've been mentioning included five the italian tourists and three people on board the plane and pilot on the chopper including a child on board the plane. the rescue was over almost immediately the. it became a recovery effort. three bodies apparently recovered now. at least two bodies recovered, we suspect a third. liberty tour company the operator of this sightseeing chopper -- it sounds right now as though it was the small plane that could have been r

rick: conor powell in afghanistan, thanks so much. julie: well, gitmo may the departments of defense, justice and homeland security checking out a maximum security lockup in standish, michigan, yesterday. they were looking to see if the facility could be the new prison for terror suspects. the president is the largest employer -- the prison is the largest employer in this community but it is going to close in october. joining us now on the phone is tim the news editor for the plokal paper. thank you so much for talking to us. i just got to know, how does the residents of standish feel about the possibility of terrorists moving into their neighborhood? >> well, thanks, julie. it's pretty much a 50/50 split i'd say right now. there are a lot of, like you said, people who instantly say, you know, we don't want these terrorists here, we don't want these people who committed jihad here. but there's a lot of people looking at this as a reasonable plan b because our state is also in negotiations with california and other states to take in their inmates. so while i

other rare but serious side effects may occur. rickent obama himself stepping into the health-care arena. he will be holding his own town hall meeting himself in new hampshire, at the ports mouth, new hampshire high school. supporters and opponents are gathering outside. molly is live with them. >> it has been a colorful day. we have spoken to people on both sides of these political issues. health-care reform is at the top of the agenda. joining me now is a registered nurse and president of the local nurses association. why are you out here today? >> we represent 23,000 registered nurses in the state of massachusetts. we have long believed in medicare access for everyone and that the people believing in the decision making on the health- care industry should be out of the process for people who are in need of care and certain types of procedures and surgeries. they should not be making those decisions. there needs to be reform. we believe in access for everybody. >> what are you hoping to hear today? >> i would like to hear that it wil

world tonight, revered university of louisville basketball coach rick pitino's biggest challenge right now is not on the court, but rather maylay out in court. pitino is at the center of an extortion plot involving a former lover, an extramarital affair, an abortion and alleged rape. diana avellar explains. >> reporter: celebrated college basketball coach rick pitino is fighting for his reputation. >> when you have a problem, if you tell the truth, your problem becomes part of your past. if you lie, it becomes part of your future. >> reporter: police records reveal he admitted to having sex with karen cipher in 2003. he also told them saifer told them two weeks later to tell him she was pregnant and she wanted an abortion. pitino told police he gave her $3,000. sieffer's account confirms the fact and she claims it was rape, and that he raped her a second time. prosecutors have declined to charge him because of inconsistencies in her story. >> this isn't about me anymore. that's why i will fight to the bitter end, and the truth will come out. >> reporter: seiffer came forward with her accusations only after she was arrested o

but there's a lot of thin being grouped under the rub rick of counterinsurgency that may not ke sense in a givesituation so ihink we've got a lot of exrience. but i thk afghanistan ses a lot of challenges. there, for example, you don't ve, iraq has tradion of a centralized governmentnder saddam and since. and nownd maliki's gathering powe well, you n't really have that tradition in afghanistan of a centralized government wse authority can extend throughouthe cotry. that's a masve challenge ght there. >> rose: all right. one last question alissa. first of all, you were the bureau cef inaghdad. and you were given a lot of crit for your impact on the bureau as we as your verage of that w. so what is it about you and r? you're now going to ca -- cab you will. >> well, -- kabul. >> well, i guess some pem --. >> rose: a 5 foot 4 of you. >> i guessou always wt to cover sothing where y thk it -- something's at stake. and there is nothing whe it so, i more apparent what's astake than in war. and at least from my point of view, it's alway abo civilians' lives it's a littledifferent for mike who

but there's a lot of things being grouped under the rub rick of counterinsurgency that may not make sense in a given situation so i think we've got a lot of experience. but i think afghanistan poses a lot of challenges. there, for example, you don't have, iraq has a tradition of a centralized government under saddam and since. and nownd maliki's gathering power. well, you don't really have that tradition in afghanistan of a centralized government whose authority can extend throughout the country. that's a massive challenge right there. >> rose: all right. one last question to alissa. first of all, you were the bureau chief in baghdad. and you were given a lot of credit for your impact on the bureau as well as your coverage of that war. so what is it about you and war? you're now going to ca -- cab you will. >> well, -- kabul. >> well, i guess some pem --. >> rose: all 5 foot 4 of you. >> i guess you always want to cover something where you think it -- something's at stake. and there is nothing where it's so, is more apparent what's at stake than in a war. and at least from my point of vie

and her husband, governor schwarzenegger, and her grandchildren. >> rick: a report from the florida medical examiner suggests cocaine may have played a role in the death of television pitch man billy mays. at the time of his death, in june, it was reported that he died of a heart attack and the medical examiner now says that heart disease was the primary cause of death, but that cocaine found in his system caused or contributed to his heart disease. >>> there is word three american hikers who crossed into eastern have now been transferred to tehran. david piper is live from baghdad with the latest and what can you tell us? >> reporter: well, we spoke to the iranian embassy today, the press officer there and we asked them where exactly are these three americans, and they said, quote, no, know nothing about the development but we understand they are under iranian authority, and they were arrested friday week before, and, there is a suggestion that iranian lawmakers will discuss the matter sunday, so we are watching that closely. in the past week, there have been few development and we know the iraqi foreign minister had a

. >> rick: it could be a tough start on monday when the stock market opens for a new trading week. consumer confidence taking unexpected dive on friday. the bigger story may be what it means for our larger economy. let's talk with brenda buttner host of "bulls and bears" on fox news. nice to see you. >> good to see you, rick. >> rick: what is the headline? >> the consumers are pessimistic about their own economic future. and perhaps for good reason. right now they are looking for nearly 10% unemployment. they are getting their wages cut. if we look at the stock market, we had a huge run-up since march. up 40, 50%. but from the lows, we're still down. we're still way down. plus houses aren't worth as much as they were two years ago. right now, they are not spending. consumer spending as everybody knows is the engine of the economy. it's back to school time. we saw july retail sales drop. so there is a real fear that if consumers are pessimistic that will translate to longer recession. >> rick: is there a disconnect do you think, brenda? do expermits say between -- do the experts say between the stock market that's steadily going up and what is happening wi

. >> rick: so you know and our viewers know, chris, you may not have seen it but the reports are there was a collision, between the helicopter that you did see, come down in three pieces, and a small plane that we have been talking about, on fox, a piper, pa-32, that took off from teterburo airport which is in new jersey, and the helicopter we should mention is a eurocorp, as-350 owned by a company called liberty tours and there is the >> rick: have you moved -- >> i am look into the water. >> rick: tell me what you see now. >> there is a state police boat, and new york city police boat, and dive teams that i saw coming before, and they are kind of circling around one area. and, it is happening around, like i would say around 14th street, and -- in that kind of area. and, it is seeming like, from like a -- forming a circle over here. and so, that is what i am seeing right now. >> rick: from your apartment and from the -- from where you live you are probably able to see the sight-seeing helicopters and -- >> all the time. >> and things flying around all this time and how frequently to g

>> she's wonderful and era wonderful intern. >> thank you, i've enjoyed it tremendously. >> rick, your job may annie, in terms of the last day, sports or weather and you were supposed to do weather, i'm so mad. >> she wants to do weather, also, we'll do it-- >> because weather is so much harder, dave, she chick pd out and went with sports. just read the colorful map, rick. >> i'll see you outside, rick. >> whatever we're going to weather. and let me show how the stunt is done, honey. hurricane bill is pulling off to the northeast and we are seeing the rain showers and now across areas of coastal maine and still some very bad surf today up and down the eastern seaboard and that's going to extend as you head to the south parts of florida and this cold front that's kind of pushed this storm off will be stretched across florida and anywhere to the north of that a spectacular day in store. across texas you saw a little bit of rain overnight and that's going to dry out and calm down again today, unfortunately, we desperately need the rain and further out across the west, upper level disturbances, no

and later, rick santelli, aka, the big sur, reveals what may ruin this rally, plus, behind the high-frequencyrade. first, the "word to the street." let's talk about that 1,000 level. it is a good sign, i would imagine that we held onto that level. >> huge level. you have to look at this in a couple different ways. the hedge funds tried to push and break this market's back and couldn't do it. mutual funds forced a buyout on the that level. i saw. it this morning i came in, hung funds kept telling me, i think the market's going to crack today. i didn't think so, mutuals didn't think so. it didn't. >> we were talking about this on the halftime report, pete, that you're seeing this, and this is a good sign that we've been able to hold onto this. seeing good participation in this rally. >> absolutely. the options market, 14 1/2 million contracts sold. the volume is there. everyone talks about the volume being low. no one wanted to believe the rally. take a look at the options. i think you're seeing more and more folks using the options as their vehicle to try to participate in this market rally. i

and later, rick santelli, aka, the big sur, reveals what may ruin this rally, plus, behind the high-frequency. first, the "word to the street." let's talk about that 1,000 level. it is a good sign, i would imagine that we held onto that level. >> huge level. you have to look at this in a couple different ways. the hedge funds tried to push and break this market's back and couldn't do it. mutual funds forced a buyout on the that level. >> this morning i came in, hedge funds kept telling me, i think the market's going to crack today. i didn't think so, mutuals didn't think so. it didn't. >> we were talking about this on the halftime report, pete, that you're seeing this, and this is a good sign that we've been able to hold onto this. seeing good participation in this rally. >> absolutely. the options market, 14 1/2 million contracts sold. the volume is there. everyone talks about the volume being low. no one wanted to believe the rally. take a look at the options. i think you're seeing more and more folks using the options as their vehicle to try to participate in this market rally. i'll tell y

rick is answering your questions live. it's "santelli street." we just trade on it. hi, may i help you? we're shopping for car insurance, and our friends said we should start here. good friends -- we compare our progressive direct rates, apples to apples, against other top companies, to help you get the best price. how do you do that? with a touch of this button. can i try that? [ chuckles ] wow! good luck getting your remote back. it's all right -- i love this channel. shopping less and saving more. now, that's progressive. call or click today. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> time for pops and drops. the diamonds and the dogs of the day. boeing, popped 2%. steve? >> i don't like

dollar sponsorship may have a short life. >> hey, rick, it's steve. it was a thought that we got into this first and the other countries basically followed. so, we would be the ones to pull out sooner than them. is there a thought in your world that they could help us pull out instead, if you reverse it? >> well, i think that, yes, from a growth engine standpoint, i think we're totally intertwined in this, whether it's europe, china, or the u.s. but not so much from the credit aspects of this, because i really do think that our issuance and our reverse currency status give us a very interesting combination that is unique, and it really plays to friday's employment report, and tomorrow's kind of employment report eve eve in the form of adp. because listen, viewers, there's all kinds of wild card trades here. the inverse relationship with stocks and the dollar and interest rates gives you a very unique way to trade commodities and play a weak or strong employment report friday. >> absolutely. guys, what's the trade here? i mean, if you see a weak times

tehran, they watched carefully what happened in pyongyang and may well have concluded they'd should try and cut a similar deal for themselves. >> rick: quickly, sir, would you expect, perhaps, mahmoud ahmadinejad to request either president clinton or president carter or president bush to make a trip over there, to secure the release of those hikers? >> here's the question, i think we have to ask ourselves. given the now, trip. what americans in the future are not important enough for bill clinton to go and pull out? >> rick: former ambassador to the united nations, john bolten joining us this morning, live, thank you, sir always good to hear your thoughts no thank you. >> jamie: meanwhile, everybody loves a good summer road trip, right? maybe you are hitting the road? well, two congressional members, republicans are hitting the road and it's not an ordinary summer road trip for them, oh, no, they're on a mission, there they go, but one of the trippers will be joining us, next, to tell us what is going on! >> rick: welcome, everybody topping the news now, sonia sotomayor, she's been sworn in as an associate justice of the u.s. supre

possible that the fed may leave interest rates unchanged for too long or may becoming too accommodating? time for some answers. rick santelli, the big sir, live in the pits of chicago. rick, i thought that fed was -- ben bernanke, i should say, not the fed. the man at the fed was has been a student of the great depression and that he should know, of all people, when to exit the strategy of easy money. >> he might be a great teacher at university. he's navigated some rough waters. in the end, i can't really look to mr. bernanke to pull the punch bowl away, for the party is so far extended into the wee hours of the morning, it won't be the lights going out, it will be the sun coming up. >> i got disagree with you on one point here on bernanke. the entire situation on soaking up liquidity. if you go back to his "60 minutes" interview, he said he was concerned about the political will. i will tell you this, the obama administration, he's the pilot light right now landing the plane. they are going to rip the pilot out of the chair, put their own guy in the chair. they won't allow him to soak up the liquidity. >> i compl

element >> reporter: there are growing signs the president may be forced to make concessions to keep who health care reform alive. in atlanta, i'm rick vince sent. >>> hundreds of motorcycles were out to help children. guardian angels joined together to help fight child sexual abuse. r.a.c.e. stands for race against abuse of children everywhere. and helps protect children through public awareness campaigns. >> they invited us three years ago to join in their rally, the motorcycle ride, they do fundraisers throughout the year, different events and we've joined for the past three years in the motorcycle ride. >> it included the maryland state police, veterans and hundreds of volunteers. it started at jones junction in bel air and ended at the chesapeake harley-davidson in darlington. >>> a woman lost her wedding ring in a bar and thought she would never see it again. why this woman is so happy that she stayed up to watch the 11:00 news. >>> and why one couple allowed their guests to bring more than just one date to their wedding. >>> a little on the muggy side for us this morning. it's going to get back up into the 90s this afternoon.

temperatures today may range almost to 100 degrees and relative humidity, rick, could be 6%. no help to the fire department at all. >> good stuff. both stories you did involved songs. you sang "it never rains in southern california" and i'll sing "danny boy" as a tribute to the late, great senator kennedy. >>> back to the death of senator edward kennedy, we are going to start by giving you one more look at that piece we showed you at the very beginning of this hour. we have gotten so much response from you on twitter, myspace, facebook, we are going too give you a chance to see this once again. here it is. >>> another kennedy has thrown his hat into the national political arena. edward m. or ted officially announces his campaign for the massachusetts senate seat once held by his brother, the president. the youngest of the three brothers, he will face edward j. mccormick jr. nephew of the speaker of the house in the democratic primary. there are hot times brewing on the massachusetts political scene. at the state democratic convention, edward j. mccormick, 38-year-old nephew o

rick: another story coming up. we've known it as the swine flu, but told to call it the h1n1 virus. we're hearing it maye stronger and dangerous than first predicted and it's not even flu season yet. >> jamie: no, two shots for us may be coming up and we're also going to have a live report, tracking the h1n1 virus and we'll tell you about a group of kids that ran into trouble in china because of it. xxpx my name is chef michael. and when i come home from my restaurant, i love showing bailey how special she is. yes, you are. i know exactly what you love, don't i? - [ barks ] - mmm. aromas like rotisserie chicken. and filet mignon. yeah, that's what inspired a very special dry dog food. [ woman ] introducing chef michael's canine creations. so tasty and nutritious it's hard to believe it's dry dog food. chef-inspired. dog-desired. chef michael's canine creations. >> and topping the news right now. a key house panel is voted to approve a major health care reform package and this will pave the way for a possible full house vote in september. but during the august recess, house democrat

rick and explain why he wanted to do it. >> always there for you. what you got coming up. >> we'll speak to a liberal democrat who's upset that there are rumors they may away from the government option on health care reform. we'll get his sense on what's going on. and arwa damon, rick, if you haven't seen it, has a terrific report on these suggestions that gay men in iraq are being tortured right now. what's going on? there's a lot of disturbing information just coming in to "the situation room." we'll have that for our viewers. >> best political show on television. "the situation room" with wolf blitzer. thanks, wolf. we'll look forward to it. >> thank you. >>> in india, this guy's a big bollywood star. in new jersey, just a guy who apparently looks to somebody else like a terrorist. is this a tsa profiling case or somebody trying to get publicity for themselves? i was in the grocery store when i had a heart attack. my daughter was with me. i took a bayer aspirin out of my purse and chewed it. my doctor said the bayer aspirin saved my life. please talk to your doctor about aspirin and your heart. i'm going to be grandma for a long time. it doesn't co

may. robo calls, experts say they are trying to take your money. liz crensh has more on what is behind those calls. >> hey, guys, rick morgan here.orry it has taken me so long to get back to you. >> robocallers contacts consumers with an opportunity few can ignore. >> it can cut your monthly payments in half. >> the caller is sure you need his help. >> i do see here you are only making the minimum payments on those. >> cynthia got a call like this one. >> the call says that i can lower my credit card rate. there is an urgency to it. >> snyder says she doesn't carry a balance, but after getter her robocall again and again. she decided to dig a little. >> i pressed one. and when i did that, i asked the person which account they were calling about. and when i probed further, they hung up on me. >> this is the final call before we close the file. >> this scam falls on the heels of the robo calling scam. but the ftc says, as long as there are machines that will dial consumers every day, there are schemers that will take advantage. >> if you get a call like this, it is almost certainly a scam. >> was rick morgan trying to scam us? we c

plus "fast money" heads to the pits with rick santelli and he breaks down the one thing that may reallyurt stocks this week. the other melissa and the traders are live at 5:00. bob? >> and melissa, ten minutes to go before the closing bell. dow has pared avenue of ihalf o losses. trying to make a comeback. >> the markets having their worst drop in a month. we'll put it all in perspective when we come back as the market fights its way back.can tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 anything that makes trading easier. tdd#: 1-800-345-2550 i want to be right in the middle of the action-- tdd#: 1-800-345-2550 you know-- i have to see what's going on. tdd#: 1-800-345-2550 and when i pull the trigger... tdd#: 1-800-345-2550 ...i've got to get the best price out there. tdd#: 1-800-345-2550 (announcer) try the new schwab.com tdd#: 1-800-345-2550 for yourself. tdd#: 1-800-345-2550 call 1-888-4schwab tdd#: 1-800-345-2550 or visit schwab.com/trader today. tdd#: 1-800-345-2550 'course a trade doesn't always work out my way. tdd#: 1-800-345-2550 but when it does... tdd#: 1-800-345-2550 ...man...

. >> rick santelli, on the other side of this, just to be fair and balanced, okay, the fed may not tighten again in my lifetime. you got 350 basis point curve, money supply is growing, but do you have tax hikes coming at the end of next year. lord know what is kind can of government controls we are going to have. >> how can you argue against the w? >> here is my question, isn't so much the w but can you make money now? can you make money now ahead of these oppressive tax and spending decisions coming up next year? maybe government-controlled health care? i don't know. rick, that is the key point. the next year, can you make money now? >> what you need to do is figure out the impact of the banks and the yield curve on having less money into the system. i think it is going to keep for a steep curve but for everybody. >> steep curve mean now what's it mean? important question, what's it mean for stocks? what's it mean for banks? what's it mean for the economy? >> a layup for the banks, i will have to tell you if you look at some of the earnings bysome of the biggest banks, a lot of them reall

the walk of hollywood fame. >>> we finally found a bright spot in the economy and it may be shining on your roof. and rick embroiled in an extortion scheme that includes an affair. >>> good morning! 38 minutes past hour. where have you been today? just checking up on you. let's check the morning papers. "the new york times" reports that documents released yesterday show karl rove and others in the bush white house played a key role in the firing of some u.s. attorneys. the bush administration always said that the decision was made by the justice department. rove's attorney says that rove did nothing wrong, and that the documents show that he was passing along legitimate concerns. >>> "usa today" is reporting on a renewed federal effort to find politically motivated attackers before they commit a crime. the so-called lone wolf initiative was started shortly after president obama's inauguration. >>> the "washington post" talks about how some people are hiding the fact they lost their job. so go so far as pretending to go to work every day, getting dressed, going in the car. some people feel ashamed and want

rick santelli. >>> natural gas, boy, the price may be sliding but just energy stock is up more than 60% since the stocks on cnbc.com. so, because you clikcked, we're going to look and see if you can make money down the line. joining us, jason gammel, energy research analyst. jason, why the interest in chesapeake, do you suppose? >> i think it's a couple of things. i think the natural gas co commodity has been a big underperformer in oil. i think natural gas is poiszed for a big fundamental rally in 2010. chesapeake is one of the names that has the best leverage to a big upper move in the gas prices. i think you can find that with a stock that looks cheap. trading 3 1/2 times next year's cash flow and 8 1/2 times next year's earnings. great value stock in an environment that can be strong next year fundamentally. >> why do you think natural gas itself is going to rally? they're -- apparently there's so much gas we may be running out of places to store it. >> yeah, that's right, mark. i think that's the short-term weakness is what leads to the medium-term strength. what you're doing by driving pric

buy as many video games and video game consoles as they used to and this may be a bigger trend than just the economy. >> so rick, your bottom line su wouldn't buy stocks in this sector right now? >> i didn't want to say that, but -- >> would you short them? >> well, you know, no. because i think a stock like an activision blizzard that's trading at an attractive multiple and a stock like take two interactive that's down to ten bucks after they told electronic rarts to take a hike at 26 last year, i think there's time for a little consolidation and that may help but if you're going to expect earnings and sales to help out i don't think you'll see it this year and maybe not next year. >> todd, what do you think? as an investor what would you do in this sector? >> we are cautiously optimistic on the quarter going forward. we think that these companies are attractively priced historically. and we think that this cycle's going to be significantly along so they will get the operating leverage they need for an attractive earnings story going forward. so yeah, we do think it is a sector to buy. we also note it's not a

rick. >> thanks so much. >> he may be only 11, but he's very grownup about reporting.on weaver, he was on our show around the time of the convention. he has suited up for his biggest interview yet. he got one with president obama. we'll tell you what happened. >> i wish he'd come here again. >> no chance. >> he is. >> he's big time now, mike. and then it's a story you saw first right here on "fox & friends," an american dad who is fighting to get his little boy back, his mom abducted him and took him to italy. now he's in an orphanage. he'll join us and new developments. >> the orphanage has now been closed throughout the month of august. so where is the child if he's not in the orphanage? who has him? gecko: uh, you wanted to see me sir? boss: come on in, i had some other things you can tell people about geico - great claims service and a 97% customer satisfaction rate. show people really trust us. gecko: yeah right, that makes sense. boss: trust is key when talking about geico. you gotta feel it. why don't you and i practice that with a little exercise where i fall b

you may not know that latter name, rick, but it is a huge credit card processing firm.ore to come for sure about this. >> it looks like the market is doing a little bit of a rebound today. >> a little bit of a rebound. the dow, nasdaq and s&p 500 up after a tumble of 2% yesterday. >>> fewer new homes are being built and even as demands for new homes remain sluggish there is huggnger for a now type of property, foreclosures. poppy harlow has the story from new york. what's cheaper than a foreclosure? >> that's true, rick. i will tell you some information that's not duh because i don't think you would have known that a lot of these homes are selling in a day and that's what we're seeing more and more some selling in hours. data out from foreclosure.com saying that a lot of these homes that we're seeing now are in contract less than 90 minutes rick after they hit the market and the big driver here is the pricing because the banks are getting more and more of these foreclosures on their books because when they see a home, the banks pay the property taxes and pay the mainten

we are told it may be backed up a little bit, but as soon as it gets under way, we will take you straight there. rickr health care reform seems to be growing. this is what town hall meetings looked like over the weekend -- furious crowd showing up venting their anger over the massive overhaul plans that are being debated. town hall meetings are going on right now all over the country, and some of them needed to be beefed up with security guards, and others are flat out being canceled. democrats are blaming republicans and interest groups are hoping to stage the protests. joining us is senator cornyn from texas. what do you make of these charges that republicans are behind some of the protests taking place? >> i remember when president bush was in office, code pink and moveon.org states 30 boisterous protests. -- staged pretty boisterous protest. i think these folks are respectfully but loudly proclaiming their concern and expressing their rights that are protected by the first amendment of the constitution. rick: an opinion piece this morning, the speaker of the house, writing an editorial saying tha

rick, let me just use the u.s. economy as a patient. the patient may be out of icu, out of intensive care, but the u.s. economy -- the u.s. economy and the patient is not healthy yet. and we have some signs of it even though we're expecting a rally at the open, we're still seeing signs that the u.s. economy is sick. we have continuing jobless claims dip last week to 6.2 million people is still very, very high. and new jobless claims unexpectedly rose last week. retail sales, meanwhile, unexpectedly fell last month. auto sales benefitted from cash for clunkers, but those gains were swapped by weakness at department, furniture, and electronic stores. walmart said the quarterly profit was flat, but the world's largest retailer boosted its earnings out with walmart like other retailers is tweaking its bottom line from cost cuts, not higher sales. spending is down, why? because many people, unfortunately, are still losing their homes. 360,000 households received a foreclosure notice last month, that's up 7% from a year ago. and yet another record. those are the kinds of records we don't like to talk about.

medication including tamiflu to any of these patients showing signs that they may have some serious h1n1 pneumonia. jane: thank you. rickes are slashing financial aid programs, and in some states, eliminating grants all together. it comes at a very tough time. the man for state aid is up 20% from last year. -- demand for state aid is up 20% from last year. jane: today president obama awards four recipients of the presidential medal of honor. the white house says all of the honorees are distinguished agents of change. rick: in number of town hall meetings are underway around the country. >>ç no national! rick: just an example of some of the things we have heard. we are also watching at the white houseç -- rather, some stories we are reporting on, like health care. for more, you can go to our live shots page on foxnews.com. that is where our producers and reporters are sending some of their latest material. as i said, the white house press briefing is set to begin moments from now. ( crack of bat, cheering ) not playing with the kids? not on these legs. poor leg circulation. doctor says it's p.a.d. peripheral artery dis

rick leventhal, fox news. >> two u.s. journalists freed by north korea back with loved ones at this hour. laura ling and euna lee held in the communist country since march, you may recall. but tuesday, after negotiations with kim jong ii and former president bill clinton, both freed. >> when we walked through the doors we saw standing before us, president bill clinton. we were shocked. but we knew instantly in our hearts that the nightmare of our lives was finally coming to an end. >> ling and lee were in north korea reporting for al gore's current tv. when they were accused of sneaking into the nation illegally. >> russian nuclear sub marines spotted patrolling 200 miles off the u.s. coast line. senior russian officials are blushing it off saying they are keeping the navy in shape. u.s. officials don't expect trouble but they are certainly watching the situation. >> it is the first time in, you know, roughly a decade that we have seen this kind of behavior. we obviously note it and watch it. but it is not of concern. >> however, the pentagon said the russians did not use proper channels to communicate these russian submarine drills. >> hot and semi-. that's jus

rick santelli and scott wapner is back and rest friday vacation.. bob dasani, they surprised me because it seemed that everybody sauled it may be overreserved and start getting gains, right? not now, but down the line. >> you have to read the 10-q carefully. straight street had a 10-q out this morning and takes a while to get through t. they said the reserve they had for losses on their subprime portfolio may not be sufficient. if you read it safelily, they seem to be talking about legal proceedings against them. several customers file against them and the sec is looking into enforcement about the way they managed it and went on to say the reserve they established due to the enforcement actions may not be sufficient. that's a slightly different change. bear that in mind. i know it's technical. i see the dollar up and yields down. we are trying to figure out if there is a little bit of disconnection going on. >> there definitely is a form of reallocate in terms of how the markets are pricing against each other. it's hard to ignore. you have about a nine basis points drop. this is on a week where we see a 10-year supply on wednesday. keep it in perspec

may have been doctored. anything about this video that isn't reflective of what happened? >> i know nothing about the video, ricknot going to comment on it. all i'm going to say to you is i enjoyed speaking to that young mother, i enjoyed hearing about her particular issue, and i will continue to respond to her as is needed as i do to other constituents. >> what is so hard -- you know what -- >> we had a wonderful time talking about these issues. >> i'm having a tough time understanding why it's so difficult for a gentlelady as yourself, as you've used that terminology, to just come on this show today and say, you know, i had a bad moment, i apologize. that was disrespectful. i shouldn't have done that. >> because it was not disrespectful. because i was seeking information for the very town hall that i was in. you just heard me say, if offense was taken, i wish that it had not been. no offense was intended. but i will continue to answer calls of constituents as i will continue to respond. if i can get a better answer from a wonderful concept that's put in place to help these constituents i will do so. the lady s

rick santelli. >> i don't know that we're back to normal. we're back to more of a neighborhood that's close to what may be a new normal. and i think the fact that the government and the fed have cosigned means that they're sharing their good credit with the questionable credit and all of the questions left in the credit market. but at the end of the day, toda is a big day. if he goes with more quantitative easing, does that mean he's really less independent and auditioning for the job in that regard? if he takes a stand and starts  to withdraw but sdbtd renew, does that mean he is due not to get reappointed? and all of those issues, how they affect the tenure, we might see if people on the street know what's going to be in the statement. a fascinating day. >> it gets back to the question is credit for too long. >> you still have your inflationists out there, by the way. we appreciate it, gentlemen. mr. blinder, good to see you again. on a programming note, be sure to tune into cnbc's special coverage on the fed's decision on interest rates. an all-star panel on "street signs" today at 2:00 p.m. eastern. >> okay. a pi

may even bring a little miss t the corner of your eye. also, remember this, the aftershow. today, we will replay the interview with rick scott. stay with us. i'm coming right back. ly. people notice my love for animals. my smile. my passion for teaching. my cool car. people notice i'm a good friend and a good listener. people notice that i'm a good boss. people notice my love of nature. people notice i can fix anything. (announcer) thanks to miracle-ear what people don't notice about you is your hearing aid because, look closely, our hearing aids are nearly invisible. our exclusive line of open fit products are so lightweight, so small and so natural sounding even you won't know you're wearing one. you know, most people don't know how good or bad their hearing is... they just know when they're missing things or hearing words incorrectly. miracle-ear can help. with a quick, free hearing test. miracle-ear has been helping folks for nearly 60 years. we're the number one choice in hearing aids. get your free hearing test today. it can change your hearing-- and your life-- for the better. (announcer) call now. our simple process c

may be other details, which if true i find surprising. my thoughts are with coach pitino and his family. while rick pitino's contract contains a moral clause, so far there have been no official calls for the coach tost ep down. >> so fothnir orng m's u estion of the day we ask do inrik yock pitino should step down as head coach after admitting his adultery? go to our facebook fan page and let us know what you think. >> a fatal highway accident in new york is shining a spotlight problem -- women and alcohol. a woman allegedly drove drunk, crashed her car into another vehicle killing eight people, including four children. statistics show 39% of young women now engage in binge drinking and that sup 30% since 197. here's sharyn alfonsi. >> it's friday night outside of boston. state police are looking for drunk drivers. law enforcement officers here and across the country are noticing a disturbing new trend. more and more those arrested for drunk driving are women. >> you have the right to remain silent. >> reporter: men still drink more than women and are responsible for more drunk driving cases but th

rick santelli here. we have july utilization and industrial production. all of these numbers may be skewed by different adjustments. you know about autos and things like cash for clunkers. stronger on the production side. up .5. improvement. expectations were at 68.3. if you look at 68.5 against where we were last look at 68.1, both instances, expectations in one-month history, there are improvements. so you can argue that cash for clunkers may not be economically sound and it obviously isn't the only variable here or the beginning of a variable but nonetheless, it does make numbers like this in gdp move in the direction that is to the upside. any response in the marketplace, well, we see that is -- data is putting a little bit of a bid in treasuries, nothing huge. it is putting an offer or a bigger sell in the equity markets and that, i guess, we are going to have to ponder because this data really wasn't a disappointment and just may have been looking for more. back to you. >> all right. going up, the -- the word on the street, buzz beyond. is the -- el-erian sugar high theory

just an upside somewhat prevalent in the fixed income markets and may persist through the end of the month. >> thank you very much. ricko with this week's cnbc 101. >> thank you, michelle. look at the et f101. remember the cftc is looking to adopt certain positions for the futures market. look what happened with the natural gas fund. a lot of talk about the etf community. this is the natural gas fund. they go out and buy futures here. they are designed to track natural gas prices. the problem is there is a large tracking error development. look at the last two weeks. the bottom line is the unc. the cause of this is that the underlying fund is not issuing new shares even though there is a great demand for it. they are worried about the cftc and posing the limit. that's a big issue right now. these investigations are starting to affect the world of etf and exchange trade. deutsch bank halted issuance of the double long crude oil and exchange traded notes. not clear why, but the suspicion is the similar concerns over regulatory issues. i will let you know when we get more information. >> look guard to that. hurricane bill